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First Citizens Bank acquires BMO branches
PRIVATESep 06, 2026•2 days ago
Acquiring Company
First Citizens Bank
Acquired Company
BMO Financial Group
New YorkTorontoFinancial ServicesFinanceFintechLendingBankingProfessional ServicesFinancial Services
Description
First Citizens Bank has acquired 138 branches from BMO Financial Group across 11 states. Customers reported issues accessing their accounts, which were transitioned to First Citizens. BMO informed customers that their accounts would be converted starting Friday, with access expected after Labor Day. Many customers expressed concern over the abrupt account changes and lack of access to their funds.
Company Information
Company
First Citizens Bank
Location
New York, United States
About
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Founded in 1898 and headquartered in Raleigh, N.C., First Citizens is the largest family-controlled bank in the United States, providing a unique legacy of strength, stability and long-term thinking that has spanned generations. We offer an array of general banking services including a network of 500-plus branches in 22 states; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $100 billion in assets. Discover more at firstcitizens.com.
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Predictive Intelligence
Strategic
ML-powered predictions for First Citizens Bank's next move
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed
Frequently asked
Who acquired BMO Financial Group?
BMO Financial Group was acquired by First Citizens Bank, based in New York. The deal was reported on September 6, 2026. First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. First Citizens Bank is privately held and operates in Financial Services.
When did First Citizens Bank acquire BMO Financial Group?
First Citizens Bank's acquisition of BMO Financial Group was reported on September 6, 2026. First Citizens Bank has acquired 138 branches from BMO Financial Group across 11 states. Customers reported issues accessing their accounts, which were transitioned to First Citizens. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does BMO Financial Group do?
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. It is privately held, operating in Professional Services, and is based in Toronto.
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New York
TorontoFinancial ServicesFinanceFintechLendingBankingProfessional ServicesFinancial Services