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BMO Selling 138 U.S. Branches to First Citizens Bank, Plans 150 New Branches
The sale involves US$5.7 billion in deposits and US$1.1 billion in loans as BMO shifts focus to growth markets, planning 150 new branches mainly in California.
- On Oct. 16, 2025, BMO Financial Group signed a deal to sell 138 U.S. branches to First-Citizens Bank & Trust Co. to optimize its branch network.
- After buying Bank of the West in 2023, BMO shifted focus by selling branches across 11 states, including North Dakota and western Minnesota, to reshape its U.S. Midwest presence.
- First-Citizens Bank & Trust Co. will assume about US$5.7-billion in deposits and purchase US$1.1-billion in loans, doubling its U.S. branch network to more than 1,000 locations.
- Regulatory approvals are required and the deal is expected to close in mid-2026, with BMO expecting a C$117 million tax charge and a C$104 million goodwill charge on closing.
- Aron Levine, BMO's U.S. president, said the bank will open 150 new branches over five years, largely in California, targeting growth in retail, commercial and wealth management.
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BMO Financial Group signed an agreement to sell 138 BMO branches in the United States to First Citizens Bank & Trust Company as part of an optimization plan for its branch network.
·Montreal, Canada
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BMO selling 138 U.S. branches to First Citizens Bank, plans 150 new branches
TORONTO — BMO Financial Group has signed a deal to sell 138 BMO branches in the U.S. to First-Citizens Bank & Trust Co. as part of a plan to optimize its branch network. The branches being sold are in North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma, and Idaho, as well as select locations […]
·Toronto, Canada
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Total News Sources16
Leaning Left4Leaning Right2Center4Last UpdatedBias Distribution40% Left, 40% Center
Bias Distribution
- 40% of the sources lean Left, 40% of the sources are Center
40% Center
L 40%
C 40%
R 20%
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