07:44 AM EDT, 03/24/2026 (MT Newswires) -- VersaBank ( VBNK ) said Tuesday it has agreed to sell certain assets linked to its only branch in Holdingford, Minnesota, to Stearns Bank.

Financial details of the deal weren't provided.

The Office of the Comptroller of the Currency has approved the sale, the company said.

VersaBank ( VBNK ) said the transaction is expected to have minimal impact on its tangible book value but will trigger a one-time, non-cash intangible asset write-off of about $1.7 million in Q2.

The sale, expected to close in Q2, would have a minimal financial effect while improving operational efficiency, it added.