First Citizens Bank Acquires 138 BMO Branches, Adds $5 Billion in Deposits
First Citizens Bank (NASDAQ:FCNCA) has completed the acquisition of 138 branches from BMO Bank, significantly expanding its presence across the Midwest, Great Plains, and West. The deal adds approximately $5 billion in deposits and $650 million in loans to First Citizens' balance sheet, increasing its total assets beyond $225 billion and bringing its branch count above 600 nationwide. The integration of client accounts onto First Citizens platforms marks a key milestone following the September 4 acquisition. The bank has retained local teams serving these clients while appointing regional executives to manage operations in newly acquired markets. Management also plans to invest around $1 million across expanded communities during 2026 and 2027. The transaction is notable for its deposit-heavy nature, which could provide First Citizens with more funding than lending assets at conversion. While the bank has not provided specific financial forecasts or cost synergies from this acquisition, investors are likely to monitor how effectively it leverages these new markets through commercial lending and wealth management services.
Tickers: $FCNCA
Topics: acquisitions banking expansion