The federal minister of finance, the Office of the Superintendent of Financial Institutions (OSFI), and the Competition Bureau cleared the deal earlier this year.
Laurentian Bank’s capital markets subsidiaries move to Fairstone alongside commercial real estate financing, Northpoint Commercial Finance, and B2B Bank, the bank states on its transaction information page.
National Bank picks up roughly $3.4bn in underlying mutual funds, together with retail loans and deposits of about $3.3bn and $7.6bn and SME loans and deposits of about $0.8bn and $0.6bn, all measured as at July 31, 2025, per the December 2, 2025 announcement issued by Laurentian Bank and National Bank.
Fairstone is paying $40.50 per share in cash, a premium of about 20 percent to Laurentian’s closing price of $33.76 on December 1, 2025, valuing the bank at roughly $1.9bn.
That same announcement confirms Laurentian will keep its brand identity and Montreal head office, with Éric Provost staying on as chief executive.