BMO sells 138 branches to First Citizens Bank
News provided byBMO Financial Group · 1 min read
BMO Financial Group has completed the sale of 138 branches to First Citizens Bank, a significant move in its strategy to optimize its U.S. financial center network.
The branches, located in North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma, and Idaho, as well as select locations in Minnesota, Oregon, and Illinois, were sold as part of BMO's efforts to redeploy capital and resources to markets with strong client engagement and long-term growth potential.
"This transaction supports our strategy to focus on areas that align with our long-term growth plans," said David Waddell, President and CEO of BMO Financial Group. "We are committed to ensuring our clients continue to receive the highest quality of service and support in the markets where we remain."
BMO Financial Group, the eighth largest bank in North America by assets, has a total asset base of $1.5 trillion as of July 31, 2026. With a history spanning over 200 years, the bank provides a wide range of financial services, including personal and commercial banking, wealth management, global markets, and investment banking.
"We are constantly innovating to better serve our clients and communities," stated Waddell. "This transaction allows us to focus on markets where we can make the greatest impact."
The sale of these branches is part of BMO's ongoing efforts to streamline its operations and enhance client engagement. "We are confident that First Citizens Bank will provide the best possible service to our former clients in these markets," added Waddell.
BMO Financial Group remains committed to driving positive change and making progress for a thriving economy, sustainable future, and stronger communities. The bank continues to innovate, leveraging human, digital, and artificial intelligence to personalize client experiences, augment teams, and automate its business responsibly.
With this strategic move, BMO Financial Group aims to further strengthen its presence in markets where it can provide the most value to its clients.