The Federal Reserve Board on Thursday announced its approval of an application by The Bank of Nova Scotia, of Toronto, Canada, to become a bank holding company.
Under the approved application, the bank would acquire Maple Financial Holdings, Inc., of Dallas, Texas, and thereby indirectly acquire MapleMark Bank, of Tulsa, Oklahoma, the board said. A bank holding company is a company that controls a bank.
The board set the announcement for release at 4:30 p.m. EDT on Oct. 29, 2026. The announcement is accompanied by an order. The release does not describe the order’s findings, any conditions on the approval, or a date when the approval takes effect.
The board did not say what The Bank of Nova Scotia would pay, when the acquisitions would be completed, or how Maple Financial Holdings and MapleMark Bank would operate afterward. The announcement includes no statements from the companies.