BMO Completes Sale of 138 Branches to First-Citizens Bank

BMO Financial Group has completed the sale of 138 branch locations to First-Citizens Bank & Trust Company.

The branches included in the transaction are located across North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma, and Idaho, along with selected branches in Minnesota, Oregon, and Illinois.

The deal was first announced in October of last year. Under the terms, First-Citizens Bank assumed approximately $5.7 billion in deposit liabilities and acquired roughly $1.1 billion in loans.

At the time of the initial announcement, BMO stated it “welcomes the opportunity to work with new associates and clients in the regions.”

BMO described the divestment as part of a broader effort to realign its U.S. branch network and redirect capital toward markets with stronger client engagement and longer-term growth potential.

Earlier this year, BMO revealed plans to open more than 130 new sites across California and approximately 15 in Arizona, representing a more than 50% increase in its California footprint as part of a multi-year strategy focused on Western U.S. growth markets.

BMO Financial Group said it is the eighth-largest bank in North America by assets, with total assets of $1.5 trillion as of 31 July 2026, and has operated for more than 200 years, offering personal and commercial banking, wealth management, global markets, and investment banking services across Canada, the U.S., and selected international markets.

First-Citizens Bank provides general banking services through branches and offices nationwide, in addition to commercial banking, leasing, and other financial services.

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