VersaBank Subsidiary DRT Cyber Achieves SOC2 Type 1 Certification
Ticker: VBNK · Form: 6-K · Filed: Nov 25, 2024 · CIK: 1690639
| Field | Detail |
|---|---|
| Company | Versabank (VBNK) |
| Form Type | 6-K |
| Filed Date | Nov 25, 2024 |
| Risk Level | low |
| Pages | 1 |
| Reading Time | 1 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: certification, cybersecurity, subsidiary
TL;DR
VersaBank's DRT Cyber just got SOC2 Type 1 certified, boosting security creds.
AI Summary
On November 25, 2024, VersaBank announced that its subsidiary, DRT Cyber, has achieved SOC2 Type 1 certification. This certification validates DRT Cyber's commitment to robust security and data protection practices, enhancing its value proposition to customers.
Why It Matters
This certification demonstrates DRT Cyber's adherence to high security standards, which is crucial for building trust and securing business in the cybersecurity sector.
Risk Assessment
Risk Level: low — The filing is a routine announcement of a subsidiary's certification, with no immediate financial or operational risks indicated.
Key Players & Entities
- VersaBank (company) — Registrant
- DRT Cyber (company) — VersaBank Subsidiary
- November 25, 2024 (date) — Date of Press Release
- SOC2 Type 1 (certification) — Certification achieved by DRT Cyber
FAQ
What is the significance of the SOC2 Type 1 certification for DRT Cyber?
The SOC2 Type 1 certification validates DRT Cyber's robust security and data protection practices, strengthening its customer value proposition.
Which subsidiary of VersaBank achieved this certification?
VersaBank's subsidiary, DRT Cyber, achieved the SOC2 Type 1 certification.
When was the press release announcing this certification issued?
The press release was issued on November 25, 2024.
What type of report is this filing?
This filing is a Form 6-K, a Report of Foreign Private Issuer.
What is VersaBank's primary business as indicated by its SIC code?
VersaBank's Standard Industrial Classification (SIC) code is 6029, indicating it is in the 'Commercial Banks, NEC' industry.
Filing Stats: 318 words · 1 min read · ~1 pages · Grade level 13.7 · Accepted 2024-11-25 13:32:49
Filing Documents
- a6-kxsoc2completionnovembe.htm (6-K) — 13KB
- soc2completiondbg.htm (EX-99.1) — 5KB
- soc2completiondbg001.jpg (GRAPHIC) — 207KB
- soc2completiondbg002.jpg (GRAPHIC) — 129KB
- 0001690639-24-000057.txt ( ) — 483KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. VERSABANK Date November 25, 2024 By s Brent T. Hodge Name Brent T. Hodge Title SVP, General Counsel Corporate Secretary EXHIBIT INDEX Exhibit No. Description 99.1 Press Release dated November 25 , 2024 titled VersaBank Subsidiary DRT Cyber Strengthens Customer Value Proposition with Robust SOC2 Type 1 Certification .