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

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

No permission to create posts
sp_Feed Topic RSS sp_TopicIcon
Equitable Bank acquires Concentra Bank
October 10, 2022
5:05 pm
Norman1
Member
Members
Forum Posts: 6623
Member Since:
April 6, 2013
sp_UserOfflineSmall Offline

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 1st, subject to the satisfaction or waiver of the remaining conditions of closing. …

October 11, 2022
2:13 am
RetirEd
Member
Members
Forum Posts: 951
Member Since:
November 18, 2017
sp_UserOfflineSmall Offline

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

RetirEd

October 11, 2022
5:21 am
savemoresaveoften
Member
Members
Forum Posts: 2646
Member Since:
March 30, 2017
sp_UserOfflineSmall Offline

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.

No permission to create posts

Please write your comments in the forum.