BMO completes sale of 138 U.S. branches to First Citizens Bank

BMO Financial Group has completed the sale of 138 branches to First Citizens Bank & Trust Company. The acquired branches are located across several U.S. states, including North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma, and Idaho, as well as select locations in Minnesota, Oregon, and Illinois.

BMO stated the transaction is part of a strategy to optimize its U.S. financial center network and redeploy capital toward markets with higher client engagement and long-term growth potential.

Separately, BMO insider Deland Kamanga sold 9,064 shares of the company's stock on September 2nd at an average price of C$237.65, totaling approximately C$2,154,059.