Scotiabank signed a definitive agreement to acquire Maple Financial Holdings, Inc., the parent of Dallas-based MapleMark Bank.
The acquisition provides Scotiabank with a U.S. banking license. This allows the firm to offer FDIC-insured deposits to its clients.
The deal supports Scotiabank’s Global Banking and Markets business and its Mortgage Capital Markets division. It aligns with a broader strategy to grow deposits within the North American corridor.
Financial terms of the transaction remain undisclosed. The deal is subject to regulatory approvals. It is not expected to materially impact Scotiabank’s earnings or capital ratios.