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BMO Completes Sale of 138 U.S. Branches to First Citizens Bank
First Citizens Bank assumes about US$5.7 billion in deposits and US$1.1 billion in loans under the previously announced deal.
- On Friday, September 4, BMO Financial Group completed the sale of 138 branches in the United States to First-Citizens Bank & Trust Co., optimizing its U.S. network strategy.
- The sale was initially announced in October of last year alongside plans to open 150 new branches over five years, with growth focused on California but not limited to that state.
- Under the deal's terms, First Citizens Bank assumes approximately US$5.7 billion in deposits and purchases about US$1.1 billion in loans from the divested branches.
- The divested branches span North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma, and Idaho, alongside select locations in Minnesota, Oregon, and Illinois.
- BMO, North America's eighth-largest bank with $1.5 trillion in assets, plans to open seven branches this year in Greater Los Angeles, the Bay Area, and San Diego.
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BMO Completes Sale of 138 U.S. Branches to First Citizens Bank - CanadianSME Small Business Magazine
BMO Financial Group (TSX: BMO) (NYSE: BMO) today announced the completion of the sale of 138 branches to First-Citizens Bank & Trust Company (“First Citizens Bank”). As previously announced, the branches are in North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma, and Idaho, as well as select branches in Minnesota, Oregon, and Illinois. The transaction supports BMO’s strategy to optimize its U.S. financial center network and…
MONTREAL and CHICAGO, Sept. 4, 2026 /CNW/ -- BMO Financial Group (TSX: BMO) (NYSE: BMO) today announced the conclusion of the sale of
·Montreal, Canada
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Total News Sources45
Leaning Left11Leaning Right2Center20Last UpdatedBias Distribution61% Center
Bias Distribution
- 61% of the sources are Center
61% Center
L 33%
C 61%
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