Updated: December 02, 2025 at 7:38AM EST
Published: December 02, 2025 at 7:13AM EST
MONTREAL — Fairstone Bank of Canada has agreed to acquire Laurentian Bank of Canada for $1.9 billion in cash.
As part of the deal, Laurentian Bank will sell its retail and small-and-medium-sized business banking portfolios and syndicated loan portfolio to National Bank of Canada.
Laurentian Bank chief executive Eric Provost says joining forces with Fairstone will allow the bank to grow its specialized commercial business, while maintaining its brand identity and head office in Montreal.
Under the National Bank agreement, Laurentian Bank’s branches and employees will not be transferred to National Bank.
Fairstone Bank will pay $40.50 per Laurentian Bank share in cash, while the amount National Bank will pay will be based on outstanding balances at closing.
The Fairstone deal is subject to approval by a two-thirds majority vote by Laurentian Bank shareholders.
This report by The Canadian Press was first published Dec. 2, 2025
