The transaction concludes a strategic effort by BMO to streamline its U.S. financial center network. By shedding these locations, the bank aims to redeploy resources toward regions demonstrating stronger client engagement and long-term expansion potential. The affected branches are primarily located across the Midwest and Pacific Northwest, covering territories from Idaho to Missouri.
BMO Divests 138 U.S. Branches to First Citizens Bank
BMO Financial Group has finalized the sale of 138 retail branches to First-Citizens Bank & Trust Company, marking a significant recalibration of its American footprint. The divestiture spans eleven states, including North Dakota, Kansas, and Oregon, as the Toronto-based lender moves to concentrate capital in higher-growth markets.
BMO, currently the eighth-largest bank in North America with $1.5 trillion in assets, maintains that this shift aligns with its broader objective of integrating digital and human-led banking services. The bank continues to operate its remaining network while focusing on its core growth pillars across the United States and Canada.
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