Investment Executive
By James Langton

Parent company amalgamating with bank subsidiary following strategic review

London, Ont.-based PWC Capital Inc. and its subsidiary Versa Bancorp have agreed to merge in order to position the bank for future growth. The combined entity will continue to be named Versa Bancorp.

Versa Bancorp, formerly Pacific & Western Bank of Canada, operates a “branchless” electronic bank, and provides residential and commercial mortgages both through brokers and its own lending staff.