Equitable Bank acquires Concentra Bank | Page 3 | EQ Bank | Discussion forum

The acquisition was approved by regulators last month:

Equitable Bank obtains Minister of Finance approval…

… No further regulatory or shareholder approvals are required in connection with the Acquisition.

The Acquisition is expected to be completed in Q4, potentially as early as November 1^st, subject to the satisfaction or waiver of the remaining conditions of closing. …

RetirEd said
When Coast Capital switched from BC Credit Union insurance (at the time "unlimited") to CDIC ($100K), we were told the same story about grandfathering in unexpired deposits to the previous (higher) limit (or, rather) no limit, with maturing money becoming subject to the newer limits.
RetirEd  

yeah think thats standard practice. So someone who purchase a new Concentra GIC before the official closing can enjoy combined $200k CDIC limit until the new Concentra GIC matures.