https://www.highinterestsaving.....arch-2026/

https://mywfcu.ca/personal/inv.....t-special/

They have a branch here in Kingston, so that will make it easier if I decide to investigate further.

COIN said
Am I reading this correctly?

EQ is funding the purchase of PC entirely with debt?  

Actually, it doesn't look like there is any debt issuance at all, it is mainly equity in EQB:

EQB will acquire PC Financial for 1.15x book value at closing, excluding excess capital above a 13% CET1 ratio, for consideration estimated at $800 million, subject to adjustment pursuant to the terms of the Transaction Agreement. The consideration will be satisfied by the issuance to one or more subsidiaries of Loblaw of 7.2 million common shares of EQB, representing approximately 16% of EQB's issued and outstanding common shares as at the date hereof on a pro-forma basis, and the remainder in cash. In addition, prior to the closing of the transaction and subject to regulatory approval, Loblaw will release and receive approximately $500 million of excess capital and other value from PC Bank, for estimated total value of $1.3 billion to Loblaw. Pursuant to and subject to the terms of the Transaction Agreement, Loblaw will own a minimum of 17% of EQB's issued and outstanding common shares on closing of the Acquisition. Closing is expected to occur within calendar 2026, subject to customary closing conditions and regulatory approvals.

They are issuing a bunch of new EQB stock, and will pay whatever cash is necessary to top that up to the set price (that 1.15x book value of PCF at closing). Loblaws also gets to keep about $500 million of "excess capital" from PCF, above regulatory minimums. At the current price of $112.70, 7.2 million shares would actually be about $811 million, so there may not be any cash shipped over from EQB, depending on the share price at closing and however they calculate the PCF book value. It was $86.85 before the deal was announced, jumped to $98 that day, and has been as high as $126 briefly before retreating a bit.

Aside from that $500M in retained cash, Loblaw will wind up with around a 17% stake in EQB - they have to hold that for 4 years, and are prohibited from going over a 25% stake.

COIN said
Am I reading this correctly?

EQ is funding the purchase of PC entirely with debt?  

Isn't that a common practice, no different than folks using funds from their line of credit to invest? Just another form of leverage with the associated risks.

EQ is funding the purchase of PC entirely with debt?

COIN said

What will Equitable do with $300mm?  

December 3, 2025 - EQB Inc. (the parent company of EQ Bank) has entered into a definitive agreement to acquire President's Choice Financial (PC Financial) from Loblaw Companies Limited for $800 million.

Clients can self-serve. No paperwork. No cheques (unless they want to). Everything is client-name and not in nominee.

I wont be giving up on this. It already received validation from FI'S and Dealers. Its live soon.

Your biggest obstacle is trying to get past the convenience of the FundSERV platform that investment and mutual fund dealers use to serve mutual funds and Investment Savings Accounts to their clients and, to a lesser extent, the convenience of the HISA ETFs. Difficult to get both the dealer member firms and, by extension, their clients to use yet another platform.

Since it's not in production yet, my best advice would be just to abandon the idea. You'll thank me in 5 years.

Cheers,
Doug

Over the past 6 years I’ve spoken with major brokers, financial institutions, and software vendors to better understand the GIC landscape. Over the last year, I built a platform that connects clients directly with financial institutions (either advisor-led or self-directed).

The goal is simple: create a place where clients can renew or move GICs between institutions without the usual friction of transfers, paperwork, and starting new applications every time.

I’d really appreciate the community’s thoughts:

1️⃣ General reactions to this idea
2️⃣ Would any serious GIC investors be open to seeing a demo and sharing user feedback? (Its not in production yet)
3️⃣ What are the biggest pain points you’re currently facing with GIC investing or renewals?

Thanks in advance — I’m here to listen and learn

Chadwick Westlake is actually CEO of EQB Inc. and Equitable Bank, not EQ Bank. EQ Bank is just their online channel.

According to their Investor Fact Sheet (Q4 2025), most of their deposits don't even come through EQ Bank:

28% EQ Bank
 6% Credit Unions
13% Wholesale Funding
54% Brokered Deposits & Others

Interesting article ➡️ https://www.bnnbloomberg.ca/bu.....hold-name/

Dean

dell15454 said
Time to outlaw Property Controls the supermarkets have been using to stifle competition.  

I doubt that would do much of anything for food prices. I suspect the losers would be landlords since their Major Tenant lease values will be reduced and potentially their long term Major Tenants moving elsewhere only to be replaced by shorter term leases after incurring major reno costs.