Overview

• First Citizens will assume about $5.7 billion in deposits and purchase roughly $1.1 billion in loans under the branch sale, with no purchase price disclosed.
• The locations span 11 states concentrated in the Midwest and Great Plains, including the Dakotas, Wyoming, Nebraska, Kansas, Missouri, Oklahoma and Idaho, plus parts of Minnesota, Oregon and Illinois.
• The transaction requires regulatory approvals and other customary conditions and is slated to close in mid-2026.
• BMO will book an estimated $104 million goodwill charge in the fourth quarter and expects about a $117 million tax charge at closing, and it says the CET1 impact is not material.
• The 138 branches represent roughly 13.7% of BMO’s U.S. network, and First Citizens says the added deposits will bolster liquidity and reduce its loan-to-deposit ratio.