Laurentian Bank expects to close deal with Fairstone and National Bank on Nov. 1

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Laurentian Bank expects to complete its sale to Fairstone Bank and transfer its retail and small- and medium-sized banking portfolios to National Bank on Nov. 1. Regulators have already approved the deal, and Laurentian says the remaining conditions are the final steps before closing. Fairstone will acquire Laurentian Bank and its commercial operations for $1.9 billion. National Bank will take over the retail and SME banking portfolios. The companies plan to coordinate the transition to minimize disruption for customers.

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