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Feb 1, 2023 · BMO Financial Group announced it has acquired Bank of the West from BNP Paribas, expanding its banking presence in key U.S. markets. The transaction is expected to create the 8th largest bank in North America by assets and provide customers with a broader range of products and services.
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Bank of the West was a U.S. bank founded in 1874 and owned by BNP Paribas until 2023. It merged into BMO Bank, N.A. in September 2023, after acquiring several other banks and branches over the years.
Feb 1, 2023 · BMO Financial Group announced it has acquired Bank of the West from BNP Paribas, expanding its U.S. presence and customer base. The transaction is expected to close in early September 2023, after which BMO will provide Bank of the West customers with key information about the conversion of their accounts.
Dec 20, 2021 · BMO announces the signing of a definitive agreement to buy Bank of the West, a U.S. bank with assets of US$105 billion, for US$16.3 billion. The acquisition will expand BMO's presence in key U.S. markets, including California, and enhance its commercial and wealth banking capabilities.
Dec 20, 2021 · BNP Paribas has agreed to sell its US retail and commercial banking activities through Bank of the West to BMO Financial Group for a cash consideration of 16.3 billion US dollars. The transaction is expected to close in 2022 and will generate a capital gain and a share buy-back for BNP Paribas.
Dec 20, 2021 · BMO Financial Group announced a strategic acquisition of Bank of the West, a U.S. bank with assets of approximately C$135 billion, to expand its presence in key markets and commercial banking. The transaction is expected to be accretive to BMO's earnings and returns, and to close in the first half of 2022.
