Toronto-based Scotiabank has agreed to acquire Maple Financial Holdings, the parent company of US commercial lender MapleMark Bank, for an undisclosed amount.
The acquisition comes as Scotiabank aims to strengthen its global banking and markets business and expand its deposit capabilities in the US, according to an announcement.
Scotiabank announced that it had entered into a definitive agreement to acquire MapleMark Bank, a U.S. commercial bank with operations primarily in Dallas, Texas. Financial terms of the transaction were not disclosed.
Scotiabank said the acquisition would allow it to offer Federal Deposit Insurance Corporation (FDIC) deposit insurance to clients, supporting its Mortgage Capital Markets business and broader deposit growth strategy in the United States.
“Our acquisition of MapleMark Bank allows Scotiabank to offer FDIC deposit insurance to our clients, which is important for our Mortgage Capital Markets business and our deposit growth strategy,” Travis Machen, chief executive officer and group head of Global Banking and Markets at Scotiabank, said in a statement.
Machen described MapleMark as a “well-run bank” operating primarily in Dallas and said the transaction supports Scotiabank’s strategic focus within the North American corridor.
The deal comes as large North American financial institutions continue to seek growth opportunities in the U.S. banking market, where access to insured deposits can provide funding advantages and support capital markets activities.
Scotiabank said the transaction remains subject to customary closing conditions and regulatory approvals. The bank added that the acquisition is not expected to have a material impact on its earnings or Common Equity Tier 1 (CET1) capital ratio.
The lender, one of North America’s largest banks by assets, reported approximately C$1.5 trillion ($1.1 trillion) in assets as of April 30, 2026.