BMO Finalizes Sale of 138 Branches to First Citizens Bank
Bank of Montreal (BMO) has finalized the sale of 138 branch locations in multiple U.S. states, including North Dakota, South Dakota, Wyoming, and others, to First-Citizens Bank & Trust Company. The transaction includes $5.7 billion in deposit liabilities and approximately $1.1 billion in loans. This move aligns with BMO's strategy to optimize its U.S. financial center network by focusing on markets where it sees stronger client engagement and long-term growth potential. Earlier this year, BMO announced plans to expand significantly in California and Arizona, aiming to increase its presence in the Western United States due to population and economic growth trends. As of July 31, 2026, BMO reported total assets exceeding $1.5 trillion, positioning it as one of North America's largest banks by asset size.
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