Bank of Montreal (BMO) is reportedly weighing the sale of several U.S. branches, particularly in Wyoming and the Dakotas, as it continues to streamline its network after acquiring Bank of the West in 2023. According to The Wall Street Journal, the bank has already launched a sales process, which could involve selling locations individually or in clusters, with deposits and loans packaged into deals. Sources emphasized, however, that the plans remain preliminary and could be adjusted or even scrapped.  

The move comes less than two years after BMO completed its $16.3 billion acquisition of Bank of the West from BNP Paribas, a deal that added roughly 500 branches to BMO’s U.S. footprint and expanded its total to about 1,000. The acquisition gave BMO entry into California, 1.8 million new customers, and broadened its commercial and wealth management presence across high-growth U.S. markets.  

Branch consolidation following a major acquisition is not unusual, the report noted, as banks often prune overlapping or less profitable locations to improve efficiency. At the same time, BMO has been opening new branches and upgrading existing ones, underscoring its strategy to concentrate on markets with stronger growth opportunities.