The Investor
08 Sep 2026, 17:27
First Citizens Bank Expands U.S. Footprint With Acquisition of 138 BMO Branches
First Citizens Bank has completed the conversion of 138 branches acquired from BMO Bank, significantly expanding its presence across the Midwest, Great Plains and western United States.
The transaction, completed on September 4, included approximately $5 billion in deposits and $650 million in loans. Associated customer accounts have now transitioned to First Citizens’ banking platforms.
Following the expansion, First Citizens has more than $225 billion in assets and operates over 600 branches and offices nationwide, ranking among the 20 largest U.S. banks. The acquired locations extend its footprint into markets including North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma and Idaho, as well as parts of Minnesota, Oregon and Illinois.
First Citizens said customers at the acquired branches will continue working with their existing local banking teams while gaining access to the broader products, resources and specialized services available across the bank.
The acquisition represents another step in First Citizens’ expansion strategy, combining organic growth with targeted acquisitions to broaden its geographic reach and deposit base.
The bank also announced several regional leadership appointments and plans to invest approximately $1 million in charitable initiatives across existing and newly acquired markets during 2026 and 2027.
The addition of roughly $5 billion in deposits provides First Citizens with a larger funding base while extending its distribution network into several new regional markets.
First Citizens Bank has completed the conversion of 138 branches acquired from BMO Bank, significantly expanding its presence across the Midwest, Great Plains and western United States.
The transaction, completed on September 4, included approximately $5 billion in deposits and $650 million in loans. Associated customer accounts have now transitioned to First Citizens’ banking platforms.
Following the expansion, First Citizens has more than $225 billion in assets and operates over 600 branches and offices nationwide, ranking among the 20 largest U.S. banks. The acquired locations extend its footprint into markets including North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma and Idaho, as well as parts of Minnesota, Oregon and Illinois.
First Citizens said customers at the acquired branches will continue working with their existing local banking teams while gaining access to the broader products, resources and specialized services available across the bank.
The acquisition represents another step in First Citizens’ expansion strategy, combining organic growth with targeted acquisitions to broaden its geographic reach and deposit base.
The bank also announced several regional leadership appointments and plans to invest approximately $1 million in charitable initiatives across existing and newly acquired markets during 2026 and 2027.
The addition of roughly $5 billion in deposits provides First Citizens with a larger funding base while extending its distribution network into several new regional markets.
