VERSABANK REPORTS STRONG SECOND QUARTER RESULTS: STRONG US SRP GROWTH DRIVES 27% YEAR-OVER-YEAR INCREASE IN REVENUE AND NET INTEREST INCOME, 45% YEAR-OVER-YEAR GROWTH IN ADJUSTED (CORE) NET INCOME

All amounts are unaudited and in Canadian dollars and are based on financial statements prepared in compliance with International Accounting Standard 34 Interim Financial Reporting, unless otherwise noted. Our second quarter 2026 ("Q2 2026") unaudited Interim Consolidated Financial Statements for the period ended April 30, 2026 and Management's Discussion and Analysis ("MD&A"), are available online at www.versabank.com/investor-relations , SEDAR at www.sedarplus.ca and EDGAR at www.sec.gov/edgar . Supplementary Financial Information will also be available on our website at www.versabank.com/investor-relations . LONDON, ON , June 3, 2026 /CNW/ - VersaBank (or the "Bank") (TSX: VBNK (NASDAQ: VBNK ), a North American leader in business-to-business digital banking, as well as technology solutions for cybersecurity, today reported its results for the second quarter ended April 30, 2026. All figures are in Canadian dollars unless otherwise stated. NOTE REGARDING SECOND QUARTER FISCAL 2026 FINANCIAL RESULTS VersaBank's financial results for the second quarter of fiscal 2026 reflect non-core non-interest expenses in the amount of $6.7 million. The non-core non-interest expenses included $4.5 million related to the project costs associated with the Reorganization (see Reorganization note below). Subsequent to the end of the second quarter, the Bank publicly filed a Form S-4 registration statement (the "Registration Statement") with the U.S. Securities and Exchange Commission (the "SEC") in connection with the Reorganization. The Reorganization is intended to enhance shareholder value, mitigate risk and reduce corporate costs over the long term. The Bank expects that the anticipated benefits of the Reorganization will exceed the associated investment however, these expected benefits are subject to various assumptions and uncertainties. As of the end of the second quarter of