National Bank, Laurentian Deal: Your Questions, Answered

After nearly 180 years of operation, Laurentian Bank of Canada is being sold in two parts.

On December 2, 2025, Laurentian Bank announced a split deal with National Bank of Canada and Fairstone Bank worth about $1.9 billion in cash.

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In an additional document about the acquisition, Laurentian said it would need “massive investments” to maintain its position in Canada's banking system. Tougher regulatory standards and rising expectations from customers and shareholders would still make it hard to compete on its own.

The agreements still need shareholder and regulatory approvals, and are expected to close by late 2026.

If you’re a Laurentian customer, here’s what the acquisition could mean for your everyday banking.

Who gets what?

Here’s how the pieces of the National Bank — Fairstone — Laurentian deal are divided:

National Bank, one of Canada’s Big Six banks, will buy Laurentian’s retail and small-and-medium-sized enterprise (SME) banking portfolio, along with its syndication loan portfolio. This move will allow NBC to expand its presence in Quebec and across Canada.

Fairstone Bank will deepen its roots in Quebec by integrating its own commercial lending operations with Laurentian’s commercial specializations. This combined business includes commercial inventory and equipment financing, real estate lending, intermediary services and capital market activities.

After closing, Laurentian Bank will keep its brand and headquarters in Montreal, but will become a wholly owned subsidiary of Fairstone.

Laurentian Bank plans to become a specialty commercial bank and exit the personal and SME banking market. In other words, the bank wants to carry on its legacy while focusing on serving commercial clients and delivering value to shareholders.

"This announcement is aligned with the acceleration of Laurentian Bank's commercial specializations, as announced in our 2024 Strategic Plan," said Éric Provost, President and CEO of Laurentian Bank, in a press release announcing the acquisition.

Didn’t the National Bank of Canada just buy another bank?

Yes, National Bank completed its acquisition of Canadian Western Bank (CWB) on February 3, 2025, in an all-stock deal of over $5 billion.

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Buying multiple financial institutions within a few years is rare, but not unusual for large Canadian banks.

For instance, the Bank of Montreal (BMO) has been busy too, completing an acquisition of Bank of the West in February 2023

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and Burgundy Asset Management in November 2025.

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With the CWB and now the Laurentian transaction, National Bank says it’s doubling down on its domestic growth strategy.

"Leveraging our strong presence in Québec, this transaction aligns with our domestic growth strategy and is a natural fit," Laurent Ferreira, President and CEO of National Bank, said in the press release announcing the Laurentian acquisition.

That's the big-picture story behind the headlines. Now let’s look at what it means for your own accounts.

I bank with Laurentian Bank. Will I automatically be a National Bank customer?

Eventually, yes — if you’re a personal or business banking customer, your accounts are expected to move to National Bank once the deal closes.

For now though, there will be no change to your existing agreements, products and services with Laurentian.

The deal between the two banks is expected to close by the end of next year. As the transition gets closer, Laurentian Bank will send a notice in the mail explaining how your accounts will move to National Bank and what you may need to do.

How will this affect my fees, interest rates and benefits

Once the transition is complete, your current services and deposits will likely be moved to the closest comparable products at National Bank. That means your banking fees, perks and interest rates could look different, depending on your new agreement.

Whether you benefit from the National Bank’s larger branch and ATM network, and its digital banking platforms will depend on where you live and how you like to bank. In general, though, you’ll have more ways to manage and grow your money with a wider range of everyday banking, borrowing and investing options.

Will my branch close or change its name?

For now, branches and ATMs aren’t affected. You can continue your day-to-day banking as usual while the acquisition goes through the approval process.

However, once the deal is done and your retail accounts move to National Bank, Laurentian’s branches will close rather than be rebranded.

You will receive advance notice with instructions on how to start using National Bank branches, ATMs and online services.

Is my money safe?

Yes. Laurentian Bank and National Bank are both Canada Deposit Insurance Corporation (CDIC) members.

Money held within the eligible accounts and investments is generally insured up to $100,000 per category coverage, per bank. That means, this protection continues even if your eligible deposits transition from Laurentian to National Bank as part of this deal.

If you use Laurentian Visa credit cards, you’ll continue to receive Visa’s Zero Liability protection against unauthorized transactions, as long as you meet the card’s conditions.

What should I do now?

At this early stage, you don’t need to take any action. Your bank will let you know well in advance if you need to do anything about your accounts.

In the meantime, these steps can help you stay informed and protected: