BMO Sells 138 Branches With Plan to Boost Presence in California

Bank of Montreal agreed to sell 138 branches in 11 states to First-Citizens Bank & Trust Co. with plans to open 150 others with an emphasis on California.

“We’re sharpening our focus on markets with the greatest potential for long-term growth,” Aron Levine, President of BMO U.S., said in a statement Thursday. “This reallocation allows us to deepen client relationships and deliver the full power of BMO to our clients.”