07:25 AM EDT, 10/16/2025 (MT Newswires) -- First Citizens BancShares (FCNCA) said Thursday its First-Citizens Bank unit agreed to acquire 138 Bank of Montreal (BMO) NA branches in North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma, and Idaho, plus select locations in western Minnesota and single branches in eastern Oregon and southern Illinois.

It will assume about $5.7 billion in deposits and acquire roughly $1.1 billion in loans as part of the transaction, the company said.

Separately, BMO said it plans to open about 150 new branches over five years, with a California-centric focus to deepen presence in priority markets.

BMO expects to record a goodwill charge of about $75 million in Q4 and a tax expense of around $85 million at closing, it said.

The deal needs regulatory approvals and other conditions and is slated to close in mid-2026, the bank said.