BMO Finalizes Sale of 138 U.S. Branches to First Citizens Bank

The transaction encompasses a broad geographic footprint, spanning locations in North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma, and Idaho. Additionally, select branches in Minnesota, Oregon, and Illinois were included in the transfer. By shedding these assets, BMO aims to refine its U.S. financial center network and reallocate resources toward areas where the bank identifies stronger client engagement.

This move aligns with the institution's broader strategy to streamline operations under its current leadership. As of July 31, 2026, BMO reported total assets of $1.5 trillion, maintaining its position as the eighth-largest bank in North America. The deal allows the bank to pivot its focus toward integrated digital and human banking services while moving away from a traditional, geographically dispersed branch model in these specific markets.