Bank of Montreal (BMO) announced plans to open more than 130 new financial centers in California and about 15 in Arizona over the next five years, a move that will increase its California footprint by more than 50% and expand its U.S. presence in high‑growth West Coast markets.
The expansion follows BMO’s sale of 138 branches to First Citizens Bank & Trust, announced in October 2025 and expected to close by mid‑2026, and builds on the 2023 acquisition of Bank of the West for $16.3 billion, which gave BMO a strong foothold in the U.S. banking landscape.
BMO is positioning the new centers as modern financial advice hubs that emphasize in‑person, advice‑led banking. The strategy targets high‑growth communities in California and Arizona and is expected to create hundreds of jobs over the five‑year period, reinforcing the bank’s commitment to a balanced digital‑and‑physical service model.
Aron Levine, president of BMO U.S., said: "These financial centers provide our clients more opportunity to meet face‑to‑face with our teams to discuss their goals for their business and personal financial lives, build trusted relationships, and receive personalized guidance that helps them make real financial progress."
The announcement signals BMO’s broader U.S. growth strategy, leveraging its recent acquisitions and divestitures to focus on wealth management and mortgage services in the West Coast, and underscores the bank’s confidence in the region’s continued expansion.
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