Scotiabank will buy commercial bank Maple Financial Holdings and its subsidiary, MapleMark Bank, for an undisclosed sum, the Toronto-based lender said Friday.
The purchase “further supports our strategic focus within the North American corridor,” Travis Machen, who leads capital markets for Scotiabank, said in a prepared statement.
Machen, who serves on the Financial Sector Advisory Council of the Federal Reserve Bank of Dallas, called MapleMark a “well-run bank.” MapleMark counted just over $1 billion in assets and $826 million in deposits as of March, according to FDIC data. The bank has operations in Dallas, as well as Tulsa, Oklahoma…