Bank / Credit Union

BMO receives approval to purchase Bank of the West

January 18, 2023

BMO Financial Group has received regulatory approval to acquire Bank of the West from BNP Paribas. With the acquisition, BMO will receive 1.8 million customers with access to more than 1,000 U.S. branches and 42,000 fee-free ATMs, according to a press release.

BMO will also bring on the more than 9,300 Bank of the West employees. It plans to combine the bank's systems in September 2023.

"We've been providing banking services to BMO customers for over 200 years, helping them make real financial progress, expand their businesses and drive economic growth. We look forward to working with communities across our expanded U.S. footprint to help drive meaningful change at the local level through a strong combination of financial and community-driven investment," David Casper, U.S. CEO, BMO Financial Group, said in the release.