Scotiabank's MapleMark deal adds FDIC insurance for its US mortgage capital markets business
The Bank of Nova Scotia has agreed to acquire Maple Financial Holdings Inc., the parent company of Dallas-based MapleMark Bank, in a deal that extends the Canadian bank's growing push into the United States mortgage capital markets.
Scotiabank, one of North America's largest lenders with approximately $1.5 trillion in assets as at April 30, 2026, confirmed the transaction on May 29, 2026. Financial terms were not disclosed.
The deal is subject to customary closing conditions and regulatory approvals, and Scotiabank said it does not expect a material impact on its earnings or common equity tier 1 (CET1) capital ratio.
MapleMark Bank is a US commercial bank operating primarily in Dallas, Texas, and is a subsidiary of Maple Financial Holdings Inc., a privately held company.
The acquisition gives Scotiabank direct access to Federal Deposit Insurance Corporation (FDIC)-backed deposits, a structural advantage it previously lacked in the US market and one that is central to attracting institutional clients in the mortgage space.
"Our acquisition of MapleMark Bank allows Scotiabank to offer FDIC deposit insurance to our clients, which is important for our Mortgage Capital Markets business and our deposit growth strategy," said Travis Machen, CEO and group head of global banking and markets at Scotiabank.
"MapleMark Bank is a well-run bank primarily operating in Dallas, Texas and further supports our strategic focus within the North American corridor."
Targeting a gap in the warehouse market
The move deepens Scotiabank's presence in US mortgage warehouse finance, a segment that provides short-term, secured liquidity to independent mortgage banks (IMBs) before their loans are sold or securitised in the secondary market.
The bank began building this business in August 2024, when it hired a seven-person team from JPMorgan Chase, led by industry veteran Thanh Roettele, to establish a Texas-based warehouse lending operation.
As part of Scotiabank's North American strategy, it has been directing 90% of its incremental capital toward priority North American markets since late 2023.
Scotiabank's arrival as an FDIC-insured participant positions it as a credible alternative funding source for IMBs at a moment when several traditional warehouse lenders have exited the space.
Flagstar Bancorp withdrew from warehouse lending in May 2024, and Dallas-based Comerica Bank has also pulled back.
Part of a broader North American pivot
The MapleMark acquisition follows a series of capital redeployment decisions that have reshaped Scotiabank's international profile.
In 2025, the bank divested banking operations in Colombia, Costa Rica, and Panama, transferring those assets to Banco Davivienda SA in exchange for a 20% equity stake in the combined entity.
It also completed a $2.8 billion strategic minority investment in Cleveland-based KeyCorp, securing a 14.9% pro forma common equity stake in the US regional lender.
The MapleMark announcement came days after Scotiabank beat analyst expectations in its Q2 2026 earnings, with capital markets, wealth management, and its Canadian banking units all posting stronger results.
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