Bank of Montreal (BMO) completed the sale of 138 U.S. branches to First-Citizens Bank & Trust Company. The transaction officially closed on September 4, 2026. These divested locations span the Midwest, Great Plains, and Western United States, including North Dakota, Kansas, Missouri, and Wyoming.
First Citizens assumed approximately $5.7 billion in deposits through the deal. The bank also acquired roughly $1.1 billion in loans. BMO originally announced the terms of this agreement in October 2025.
The divestiture aligns with BMO's strategy to optimize its American branch network. The bank will redeploy resources toward markets with higher long-term growth potential. BMO is currently planning to open new branches in other regions, such as California.