Mississaugas Invest $15 Million in Indigenous Bank
The First Nation becomes one of First Nations Bank of Canada's largest shareholders as the bank completes a $50 million capital raise.
Updated on Nov. 4, 2026 in Financial Services
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The Mississaugas of the Credit First Nation has invested $15 million in First Nations Bank of Canada, taking an ownership stake of about 10 per cent. The investment completes a $50 million capital raise for the bank.
Why it matters
The investment is intended to expand the bank's lending capacity for Indigenous and non-Indigenous clients. It also positions the Mississaugas of the Credit First Nation as one of the bank's largest shareholders.
The $15 million investment represents about 10 per cent ownership within a $50 million capital raise. The bank manages more than $1.6 billion in assets across 22 branches and service centres, while its trust subsidiary FNB Trust holds $5.57 billion under administration.
The players
First Nations Bank of Canada
The only Indigenous-owned chartered bank in Canada, owned by 117 First Nations and Indigenous communities.
Mississaugas of the Credit First Nation
An Ontario First Nation that is now one of the largest shareholders of First Nations Bank of Canada.
Bill Lomax
President and CEO of First Nations Bank of Canada, who announced the investment.
The details
Bill Lomax, president and CEO of First Nations Bank of Canada, announced the investment at the Canadian Club in Toronto on Wednesday. The bank, the only Indigenous-owned chartered bank in Canada, offers commercial and personal banking services including loans, mortgages and investments.
Timeline
Wednesday, November 4, 2026: Lomax announces the investment at the Canadian Club in Toronto.
Financial Services Landscape
First Nations Bank of Canada remains the only Indigenous-owned chartered bank in the country, and this capital raise strengthens its position against the national banks that dominate Canadian lending. The investment deepens Indigenous ownership of a federally chartered institution serving Indigenous and non-Indigenous customers alike.
Customers of First Nations Bank of Canada may see expanded lending capacity for loans and mortgages as the new capital is put to use. Account holders at the bank's 22 branches and service centres will be served by an institution with a broader ownership base.
The takeaway
Ownership of Canadian banks is broadening as Indigenous communities take larger stakes in institutions serving their economic development. Readers with banking needs can compare lending and mortgage options across providers as capital in the sector grows.
Further reading
For more on the sector, see Financial Services coverage across Canadian banking.
Source note: This article includes information reported by Delta Optimist.
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