Institution profile · Domestic bank (Schedule I)
Fairstone Bank
RenamedFairstone Bank of CanadaCDIC
Fairstone Bank of Canada, formerly Duo Bank of Canada, is a Schedule I bank focused on consumer and commercial lending. It combined with Home Trust in 2025 and is acquiring Laurentian Bank.
Profile facts checked October 30, 2026
Mitey files the Fairstone Bank index card: 44 OBSI banking cases.
What is Fairstone Bank?
Fairstone Bank is domestic bank, owned by Smith Financial Corporation holds a majority voting interest (since January 8, 2025), regulated by OSFI at the federal level. Eligible deposits are CDIC-insured to $100,000 per category. It doesn’t list personal accounts in FCAC’s Account Comparison Tool, so this page covers its official status, deposit protection, ownership and dated facts.
Formerly Duo Bank of Canada; renamed Fairstone Bank of Canada on June 20, 2022. Is acquiring Laurentian Bank (scheduled to close November 1, 2026; no closing announcement seen as of that date).
At a glance
- Legal name
- Fairstone Bank of Canada
- Type
- Domestic bank (Schedule I)
- Owner / parent
- Smith Financial Corporation holds a majority voting interest (since January 8, 2025)
- Head office
- Toronto, ON
- Regulator
- Office of the Superintendent of Financial Institutions (OSFI) for safety and soundness; Financial Consumer Agency of Canada (FCAC) for consumer protection
- OBSI banking cases
- 44 opened in fiscal 2025 (Nov 1, 2024 – Oct 31, 2025)
- Website
- www.fairstonebank.ca
Is my money safe at Fairstone Bank?
CDIC member.
Worked example — a household with four deposits at two CDIC members
| Deposit | Amount | Protected | Not protected |
|---|---|---|---|
| Member A: Own name | $130,000 | $100,000 | $30,000 |
| Member A: TFSA | $45,000 | $45,000 | $0 |
| Member A: Joint (You + partner) | $80,000 | $80,000 | $0 |
| Member B: Own name | $60,000 | $60,000 | $0 |
Total $315,000; protected $285,000; not protected $30,000. Try your own deposits in the deposit safety tool.
Names CDIC lists for this member: Fairstone Bank.
Fairstone Bank doesn’t list personal chequing or savings accounts in FCAC’s Account Comparison Tool (retrieved November 1, 2026), so we can’t price its accounts here. Check its own fee disclosures.
Is Fairstone Bank on the official lists?
| Legal entity | OSFI list | CDIC member |
|---|---|---|
| Fairstone Bank of Canada | OSFI — Schedule I domestic bank | Yes |
What else should you know about Fairstone Bank?
- Duo Bank of Canada rebranded to Fairstone Bank of Canada on June 20, 2022, after its January 2021 acquisition of Fairstone Financial Holdings.Source: newswire.ca
- Closed its combination with Home Trust Company on January 8, 2025.Source: newswire.ca
- Acquiring all common shares of Laurentian Bank of Canada; closing scheduled for November 1, 2026.Source: nbc.ca
Fees for this institution aren’t in FCAC’s tool. Ask for its fee schedule and put the numbers into the account-fee calculator.
How many Fairstone Bank complaints reached the ombudsman?
OBSI, the ombudsman for banking, opened 44 banking cases about Fairstone Bank of Canada in fiscal 2025 (Nov 1, 2024 – Oct 31, 2025), closed 32, and resolved 19 to the complainant’s satisfaction. Across all banks and credit unions, OBSI opened 5,438 banking cases that year (+113% on the year before) and 25% of closed cases ended with money paid.
Counts aren’t adjusted for size, so bigger banks have more cases. A complaint reaches OBSI only after the bank’s own process (up to 56 days). Source: OBSI Annual Report 2025, released March 13, 2026. How to complain.
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