The bank said it will open 150 new branches in the U.S. over five years, especially in the Golden State. (The Logic)
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The bank said it will open 150 new branches in the U.S. over five years, especially in the Golden State. (The Logic)
Talking point: BMO has entered into a definitive agreement with North Carolina’s First Citizens Bank, which will assume US$5.7 billion in deposits and buy about US$1.1 billion in loans. The value of the deal was not disclosed, but First Citizens will acquire branches mostly in the Midwest and Western regions. The deal allows it to “focus on markets with the greatest potential for long-term growth,” Aron Levine, BMO U.S. president, said in a statement. Levine joined the bank this summer, leaving the Bank of America after more than three decades. His appointment was part of a broader executive shuffle as the bank looks to increase its U.S. presence.
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