Laurentian Bank of Canada, a financial institution with roots dating back to 1846, is set to close its banking services on Friday afternoon. The bank announced that services such as LBCDirect, its mobile app, debit cards, branches, and ATMs will cease operations at 4 p.m. However, customers can continue using their Laurentian Bank Visa credit cards without interruption.
The closure marks the end of an era for the Montreal-based bank, which was split up and sold in late 2025. Fairstone Bank of Canada acquired its commercial operations for $1.9 billion, while National Bank purchased the retail and small business segment for roughly book value. The Laurentian name will persist as part of Fairstone, with the commercial segment's head office remaining in Montreal and CEO Éric Provost continuing in his role.
Laurentian's 57 branches will not be transferred to National Bank, and employees will have the option to apply for open roles at the bank. The bank completed its transactions with National Bank and Fairstone Bank on November 1, 2026, delisting its common shares from the Toronto Stock Exchange on November 3, 2026.
The bank's origins trace back to May 26, 1846, when it was founded as the Montreal City and District Savings Bank by Ignace Bourget and a group of 15 Montrealers. After its first year, the bank had 500 clients and $117,400 in assets.