Laurentian Bank of Canada reported a net loss of $20.5 million in its first quarter as it was hit by costs related to its shift to become a specialty commercial bank and exit its retail and small and medium business banking business.
The Montreal-based bank announced a plan in December that will see its commercial operations go to Fairstone Bank of Canada in a $1.9-billion deal while National Bank will acquire the retail and small business segment for roughly book value.
Under the terms, the more than 175-year-old Laurentian Bank name will live on as part of Fairstone with the head office of the commercial segment to remain in Montreal.
Laurentian said Friday its loss amounted to 58 cents per diluted share for the quarter ended Jan. 31 compared with a profit of $38.6 million or 76 cents per share a year earlier.
Revenue totalled $251.6 million, up from $249.6 million in the same quarter last year.
On an adjusted basis, Laurentian says it earned 65 cents per diluted share in its latest quarter, down from an adjusted profit of 78 cents per diluted share a year earlier.
This report by The Canadian Press was first published Feb. 27, 2026.
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