Business
Scotiabank to Acquire MapleMark Bank to Support Strategic Growth in Global Banking and Markets Business
Scotiabank to Acquire MapleMark Bank to Support Strategic Growth in Global Banking and Markets
About this update from Bank Of Nova Scotia
[{"type":"text","content":"TORONTO, May 29, 2026 /PRNewswire/ - Scotiabank (BNS: TO) today announced that it has entered into a definitive agreement to acquire Maple Financial Holdings, Inc. (parent company to MapleMark Bank). MapleMark Bank is a U.S. commercial bank with operations primarily in Dallas, Texas.\"Our acquisition of MapleMark Bank allows Scotiabank to offer FDIC deposit insurance to our clients, which is important for our Mortgage Capital Markets business and our deposit growth strategy. MapleMark Bank is a well-run bank primarily operating in Dallas, Texas and further supports our strategic focus within the North American corridor,\" said Travis Machen, CEO and Group Head, Global Banking and Markets, Scotiabank.The transaction is subject to customary closing conditions and receipt of regulatory approvals and is not expected to have a material impact on Scotiabank's earnings or CET1 ratio.About ScotiabankScotiabank's vision is to be our clients' most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: \"for every future,\" we help our clients, their families and their communities achieve success through a broad range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.5 trillion (as at April 30, 2026), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on X @Scotiabank.ADDITIONAL INFORMATION ABOUT THE TRANSACTION AND WHERE TO FIND ITIn connection with the transaction, The Bank of Nova Scotia (BNS) intends to file a registration statement on Form F-4 with the SEC. The registration statement will constitute a prospectus of BNS. The definitive prospectus will be sent to the shareholders of Maple Financial Holdings, Inc. (Maple). In addition, shareholders of Maple will receive an information statement / proxy and other relevant materials in connection with the proposed transaction in accordance with applicable state law. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT ON FORM F-4 AND PROSPECTUS INCLUDED WI...