BMO Plans Selling U.S. Branches Holding $6B Deposits

Bank of Montreal (BMO) is considering selling some of its U.S. branches that hold about $6 billion in deposits as part of a strategic effort to optimize its American operations. The potential sale may include loans and could involve branches in markets like Wyoming and the Dakotas, which do not align with BMO's long-term strategy. This move follows BMO's recent $16 billion acquisition of Bank of the West, which significantly expanded its U.S. footprint. Despite the potential divestitures, BMO continues to invest in other regions by opening new branches and renovating existing ones, reflecting a broader industry trend of reducing physical locations amid a shift to digital banking. Financial data shows BMO is a major North American bank with strong market capitalization and profitability, though there are some concerns about leverage and valuation. The branch sale plan highlights the bank's efforts to streamline operations and adapt to changing market conditions while maintaining a significant presence in the U.S.