Business
Federal Reserve approves Bank of Nova Scotia to become bank holding company
The Bank of Nova Scotia will acquire Maple Financial Holdings and MapleMark Bank in the U.S.
Federalreserve / Public domain, via Wikimedia Commons
The Federal Reserve Board announced approval for The Bank of Nova Scotia, based in Toronto, Canada, to become a bank holding company.
This approval allows the Bank of Nova Scotia to acquire Maple Financial Holdings, Inc., located in Dallas, Texas.
Through this acquisition, the Bank of Nova Scotia will indirectly acquire MapleMark Bank, which is based in Tulsa, Oklahoma.
The Federal Reserve Board is responsible for maintaining a safe and stable monetary and financial system in the United States, and this approval is part of its regulatory role.
Sources
We read public reporting and official data, confirm what we can, and write our own story. See something wrong? Request a correction.
Comments
No comments yet.
Sign in to comment