Scotiabank has entered into a definitive agreement to acquire Maple Financial Holdings Inc., a deal that will support its U.S. mortgage capital markets business, the bank announced Friday. Financial terms were not disclosed.
Maple Financial is the parent company of MapleMark Bank, a U.S. commercial bank with operations primarily in Dallas.
“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,” Travis Machen, CEO and group head of global banking and markets at Scotiabank, said in a statement.
“MapleMark Bank is a well-run bank primarily operating in Dallas, Texas and further supports our strategic focus within the North American corridor.”
The transaction is subject to customary closing conditions and regulatory approvals. Scotiabank said it does not expect the deal to have a material impact on its earnings or common equity tier 1 (CET1) capital ratio.
The deal follows Scotiabank’s recent buildout of a U.S. mortgage capital markets platform. In August 2024, the bank hired a team of seven JPMorgan Chase executives in Texas, including industry veteran Thanh Roettele, to lead a new mortgage warehouse finance business.
JPMorgan, however, has remained the largest mortgage warehouse lender in the U.S, according to Inside Mortgage Finance. Its volume was at $30.9 billion at the end of 2025, followed by Bank of America at $19.5 billion and Atlas SP Partners at $11 billion.
By recruiting that team and now adding a U.S. bank insured by the Federal Deposit Insurance Corp., Scotiabank is positioning itself as a new funding source for independent mortgage banks (IMBs) at a time when some traditional warehouse lenders have exited the space.
The market — a key source of short-term, secured liquidity for IMBs — has been reshaped by the regional bank turmoil of two years ago and subsequent capital pressures. Flagstar Bancorp, for example, exited warehouse lending in May 2024, while Dallas-based Comerica Bank has also pulled back from the business.
Scotiabank, which operates as the Bank of Nova Scotia, has been emphasizing a North American corridor strategy focused on the U.S., Canada and Mexico. In 2024, the bank also announced a $2.8 billion strategic minority investment in Cleveland-based KeyCorp, representing a 14.9% pro forma common stock stake at a fixed price of $17.17 per share.
With assets of approximately $1.5 trillion as of April 30, Scotiabank trades on the Toronto Stock Exchange and New York Stock Exchange under the ticker BNS.
This article was written by Flávia Furlan Nunes and generated with the assistance of HousingWire Automation. It was reviewed by a HousingWire editor before publication.
