BMO Financial Group Finalizes the Sale of 138 Branches to First Citizens Bank

BMO Financial Group Completes Sale of 138 U.S. Branches

In a significant strategic move, BMO Financial Group has finalized the sale of 138 branches to First Citizens Bank & Trust Company. This transaction, unveiled on September 4, 2026, marks a pivotal shift as BMO undertakes to enhance its operational efficiency across the U.S. financial sector.

The branches involved in this sale are located across several states, including North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma, and Idaho, with additional branches in parts of Minnesota, Oregon, and Illinois. This widespread geographical presence emphasizes BMO's decision to restructure its footprint in the United States.

This divestiture is part of BMO's broader strategy to concentrate resources on regions that show strong customer engagement and promising growth opportunities. By reallocating capital, BMO aims to position itself in high-potential markets, thereby driving sustainability and long-term profitability.

BMO Financial Group, as the eighth largest bank in North America, boasts total assets amounting to $1.5 trillion as of late July 2026. With a rich legacy of over 200 years in banking, BMO provides an assortment of financial services ranging from personal banking to commercial investments and wealth management. This transaction exemplifies the bank's commitment to adapt and innovate in response to the evolving dynamics of the financial sector.

Besides optimizing its branch network, BMO is keen on leveraging technology and integration of artificial intelligence to enhance customer experiences. Their innovative approach aims to personalize client interactions, streamline operations, and support business growth capacities in a responsible manner.

BMO Financial Group continues to commit to its purpose of 'Boldly Growing the Good' in business and life, striving to create a positive impact in the communities it serves. This sale not only strengthens BMO's financial standing but also underscores its dedication to fostering an economy that thrives on sustainable practices and community support.

In conclusion, the completion of this transaction marks a significant milestone in BMO’s ongoing efforts to strategically align its resources with its operational goals. As BMO shifts focus towards more lucrative markets, stakeholders are keenly observing how these changes will unfold in the broader narrative of the financial industry.

With the sale now complete, both BMO and First Citizens Bank will move forward, harnessing new opportunities within their respective strategic frameworks as they continue to shape the future of banking in their markets.