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BMO has completed the sale of 138 branches to First-Citizens Bank, involving approximately $5.7 billion in deposit liabilities and $1.1 billion in loans.
BMO Financial Group has completed the sale of 138 branches in North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma, and Idaho, as well as parts of Minnesota, Oregon, and Illinois, to First-Citizens Bank & Trust Company. BMO stated that the sale is part of its plan to optimize its U.S. financial center network and reallocate capital and resources towards markets with high customer engagement and long-term growth prospects.
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