First Citizens completes integration of 138 branches acquired from BMO

First Citizens Bank ($FCNCA) confirmed the successful conversion of 138 branches acquired from BMO Bank ($BMO), with the associated customer accounts now transferred to its banking platforms. The transaction brought approximately $5 billion in deposits and $650 million in loans, expanding First Citizens’ presence across the Midwest, Great Plains and western United States. The acquired network spans 11 states.

Following the conversion, First Citizens serves customers through more than 600 branches and offices nationwide and has more than $225 billion in assets. The bank said incoming customers would continue working with their local banking teams while gaining access to its wider services. This update confirms operational completion of a previously announced branch purchase; it is not a new acquisition of BMO Financial Group itself.

Sources:

• First Citizens — completion announcement filed with the SEC