On May 29, 2026, The Bank of Nova Scotia ("Scotiabank") announced that it had entered into a definitive agreement to acquire 100 percent of Maple Financial Holdings, Inc., the parent company of MapleMark Bank, a U.S. commercial bank with operations primarily in Dallas, Texas and with offices in Tulsa, Oklahoma. MapleMark Bank reported approximately US$1 billion in total assets and US$826 million in deposits as at March 31, 2026 (per FDIC data).

The acquisition is structured as a tuck-in U.S. bank holding company purchase by Scotiabank's Global Banking and Markets business. According to Scotiabank, the acquisition will allow Scotiabank to offer Federal Deposit Insurance Corporation deposit insurance to its clients, supporting Scotiabank's U.S. Mortgage Capital Markets business and broader U.S. deposit growth strategy, as well as Scotiabank's strategic focus within the North American corridor. The acquisition follows the May 2026 opening of Scotiabank's new regional hub in Dallas at Victory Commons One.

The transaction is subject to customary closing conditions and receipt of regulatory approvals, including U.S. federal banking approvals from the Office of the Comptroller of the Currency, the Federal Reserve and the FDIC, and Canadian approvals from the Office of the Superintendent of Financial Institutions and the Minister of Finance. A timeline for closing was not made public. Scotiabank does not expect the transaction to have a material impact on its earnings or Common Equity Tier 1 ratio. Financial terms were not disclosed.