07:59 AM EDT, 03/24/2026 (MT Newswires) -- VersaBank ( VBNK ) on Tuesday said it agreed to sell certain assets associated with its only bank branch in Holdingford, Minnesota to Stearns Bank National Association. No financial details were given.

The company said that the Holdingford sale has been approved by the Office of the Comptroller of the Currency (OCC). The Holdingford sale, it added, will have de minimis impact on the company's tangible book value and is expected to result in a one-time, non-cash intangible asset write-off of about $1.7 million in the second quarter of fiscal 2026.

VersaBank ( VBNK ) said the deal, which is anticipated to close in Q2 of fiscal 2026, is expected to have de minimis financial implications for the company beyond the contribution to efficiency.

Shares of the company closed up 2.4% to $18.88 on Monday on the Toronto Stock Exchange.