Laurentian Bank expects to close deal with Fairstone and National Bank on Nov. 1

A Laurentian Bank sign is seen in Montreal, Friday, Aug. 30, 2024. Laurentian Bank of Canada says it had a net income of $37.5 million in the third quarter, up from a profit of $34.1 million in the same quarter last year. THE CANADIAN PRESS/Christinne Muschi

MONTREAL — Laurentian Bank of Canada says it expects to close its deal to be acquired by Fairstone Bank of Canada and have National Bank takeover its retail and small- and medium-sized banking portfolios on Nov. 1.

The bank announced the date, which is still subject to conditions, after the Canadian Investment Regulatory Organization and the relevant securities regulators approved the deal.

Laurentian says the sign off was the final key regulatory approval needed to complete the transaction.

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The federal minister of finance, the Office of the Superintendent of Financial Institutions and the Competition Bureau approved the deal earlier this year.

Under the agreement announced last year, Fairstone is buying Laurentian Bank and its commercial operations for $1.9 billion, while its retail and small- and medium-sized banking portfolios are being acquired by National Bank.

The bank says Fairstone Bank, National Bank and it will work closely together to ensure a smooth transition for customers.

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This report by The Canadian Press was first published Aug. 31, 2026.