What does the sale of Laurentian Bank mean for customers?

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National Bank will be taking over Laurentian Bank's retail loans and deposits. Natasha Macmillan, Ratehub.ca's everyday banking expert, says acquiring banks typically aim to minimize disruptions.

Laurentian Bank’s LB-T retail customers are poised to move to National Bank NA-T , the latest in a wave of consolidation in the banking industry.

In a split-sale agreement, National Bank will take over Laurentian’s retail loans and deposits as well as the small-business segment while Fairstone Bank of Canada acquires the commercial operations.

Laurentian Bank to be sold to Fairstone, National Bank

National Bank will see its customer base expand as it takes on Laurentian’s $10.9-billion in retail loans and deposits and $1.4-billion in small- and medium-enterprise loans and deposi