Scotiabank to acquire U.S. MapleMark Bank, expanding FDIC-insured deposits and U.S. presence.

Scotiabank has agreed to acquire Maple Financial Holdings, the parent company of MapleMark Bank, a U.S. commercial bank based in Dallas, Texas. This acquisition will enable Scotiabank to offer FDIC deposit insurance to its clients, supporting its Mortgage Capital Markets business and deposit growth strategy. The deal is subject to regulatory approvals and is not expected to significantly impact Scotiabank's earnings or capital ratios. This move strengthens Scotiabank's strategic focus within the North American corridor.