Federal Reserve Approves Bank of Nova Scotia Acquisition of Maple Financial

The Federal Reserve Board announced on October 29, 2026, that it approved an application by The Bank of Nova Scotia to become a bank holding company. Federal Reserve News and Mirage News both reported that the Toronto, Canada-based bank will acquire Maple Financial Holdings, Inc., which is based in Dallas, Texas. [1][8]

Through the acquisition of Maple Financial Holdings, The Bank of Nova Scotia will indirectly acquire MapleMark Bank, located in Tulsa, Oklahoma. Federal Reserve News detailed that the approval allows the Canadian lender to expand its regulatory footprint into the United States banking market. [1]

The Board of Governors of the Federal Reserve System serves as the primary governing body for the United States central banking system. It oversees the regional Federal Reserve Banks and manages federal regulatory approvals for domestic and international banking entities. [13]

The approval comes alongside broader actions by the United States central bank. KMMO, ABC7 Chicago, and thecanadianpressnews.ca all reported that the Federal Reserve recently held interest rates unchanged amid ongoing inflation concerns. [2][3][9]