OAKVILLE, ON, Oct. 28, 2013 /CNW/ - Canadian First Financial Group Inc.
("Canadian First") announced today that the acquisition of MonCana
Capital Corporation, the parent of MonCana Bank of Canada ("MonCana
Bank"), was completed on Friday, October 25, 2013. The enhanced
Canadian First organization provides consumers and distribution
partners the strength, security and stability they expect from a
Schedule I Bank and a member of Canada Deposit Insurance Corporation.
Since 2011, MonCana Bank has originated over $1-billion of residential
mortgages and currently has a deposit base of $136-million.
"This acquisition marks another milestone in the creation of a new type
of financial organization that will deliver one-stop shopping
convenience for retail banking, wealth management and insurance
products and services," said Peter Vukanovich, president and CEO,
Canadian First. "We have significantly advanced our growth plan by
aligning MonCana Bank's expertise, infrastructure and relationships
with Canadian First's network of top-producing financial services
professionals. We are also delighted to welcome more than 7,000
MonCana Bank customers to Canadian First."
About Canadian First Financial
Canadian First Financial partners with top financial service
professionals by promoting community based owner-managed financial
centres. Our mission is to change the way Canadians think about
banking. We believe that Canadians deserve the best advice and the
choice of dealing with their trusted mortgage, wealth management or
insurance professional for all of their banking and financial needs. We
are committed to empowering our network of financial services
professionals with the ability to do more for their customers while
creating a more valuable and sustainable business for themselves.
Canadian First has assembled an accomplished and distinguished
leadership team and board of directors with extensive financial
services and technology experience.
For more information about our people and our vision, please visit our
website at http://www.canadianfirst.com.
Note to Editors: This news release contains forward-looking statements that relate to
Canadian First's current expectations and view of future events.
SOURCE: Canadian First Financial Holdings Limited
For further information:
Shawna Rossi, StrategyCorp, 416-864-7112 x2251
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