VersaBank, formerly Pacific & Western Bank of Canada (the Bank,) is a Canada-based chartered bank, which operates using an electronic branchless model. It sources deposits, consumer loans, commercial loans and leases electronically. The Bank also makes residential development and commercial mortgages as its sources through a network of brokers and direct contact with its lending staff. It operates through Banking segment. The Bank provides financing in the form of commercial and consumer loans, and lease receivables sourced through the Bank's bulk purchase program. It also finances real estate developers in Southwestern Ontario and provides consumer lending through its private label credit card program. Its loan portfolio includes residential multi-family mortgages, commercial and consumer loans and leases, commercial mortgages, government financings and credit card receivables. Its commercial and consumer loans, and leases consist of commercial loans to investment grade corporations.