Laurentian Bank sale to Fairstone and National Bank receives final approval

Laurentian Bank of Canada has received final regulatory approvals to proceed with a split acquisition by Fairstone Bank of Canada and National Bank of Canada. The transaction is expected to close on November 1, 2026.

Under the terms of the agreement, Fairstone Bank will acquire all outstanding Laurentian common shares for C$40.50 each, a deal valued at approximately C$1.9 billion in cash. This acquisition includes Laurentian’s commercial bank and lending capabilities.

National Bank will take over Laurentian’s retail and small- and medium-sized enterprise (SME) banking portfolios. As of July 31, 2026, these portfolios held approximately C$3.6 billion in loans and C$7.5 billion in deposits. The migration of these products and services to National Bank is scheduled to occur by late 2026.

The deal received necessary sign-offs from the Canadian Investment Regulatory Organization, securities regulators, the federal minister of finance, the Office of the Superintendent of Financial Institutions, and the Competition Bureau.