First Citizens Bank & Trust is acquiring 138 branches in the Midwest, Great Plains and West regions from BMO Bank N.A.
Specifically, the acquired branches are located in North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma and Idaho, as well as select branches in western Minnesota. There is also one branch in eastern Oregon and one branch in southern Illinois.
First Citizens, based in Raleigh, N.C., will assume approximately $5.7 billion in deposit liabilities and acquire approximately $1.1 billion in loans.
“We are enthusiastic about this opportunity to expand into new markets and offer our client-centered approach in even more regions,” First Citizens Bank Chairman and CEO Frank Holding, Jr. said. “This deposit franchise is solid, and we look forward to serving individuals and business clients in these areas. Additionally, the net deposit position is expected to enable us to further enhance our liquidity position and provide additional flexibility to support our strategic initiatives.”
First Citizens Bank offers an array of general banking services with a network of branches and offices nationwide.
“We look forward to welcoming new associates and clients as we continue to grow our branch network,” Hope Holding Bryant, vice chairwoman and head of First Citizens’ General Bank, said. “Today’s announcement underscores our commitment to bringing high-touch service, banking products and deep sector expertise to clients and communities nationwide. Together with our new associates, we will remain dedicated to our clients, associates and communities in which we serve.”
BMO Bank customers should continue to bank as they normally do, using their existing checks, cards, branches and online account access until the transaction closes in mid-2026.