Laurentian Bank of Canada is accelerating its 2024 strategic plan with a major restructuring that will see it exit retail and SME banking, refocus as a specialty commercial lender and be acquired by Fairstone Bank of Canada.

Under a definitive agreement announced this week, Fairstone will acquire all issued and outstanding common shares of Laurentian for $40.50 in cash per share, representing a premium of about 20 percent to Laurentian’s $33.76 closing price on December 1, 2025. The offer values the bank at roughly $1.9 billion in cash.

The Fairstone takeover is contingent on a separate transaction under which National Bank of Canada will first acquire Laurentian’s retail and SME banking portfolios and related assets and liabilities. Those include retail loans and deposits of approximate

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