BMO moving ahead with U.S. branch expansion in California

The Bank of Montreal in Toronto's Financial District. THE CANADIAN PRESS/Aaron Vincent Elkaim

Bank of Montreal says it’s moving ahead with plans to open more than 130 bank branches in California and 15 in Arizona over the next five years as it looks to expand into growing communities in the western United States.

The move comes after the bank announced in October it was selling 138 branches in states like North Dakota, Wyoming, Kansas and Oklahoma, saying at the time it planned to focus on markets with the greatest potential for long-term growth.

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BMO significantly expanded its U.S. presence after it took over Bank of the West for US$16.3 billion in 2023.

The new branches in California will build on the more than 220 financial centres it already has in the state.

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BMO says it plans to open seven branches this year in Greater Los Angeles, the Bay Area and San Diego with details to come on other locations, while it will focus expansion plans in Arizona in the Phoenix and Tucson markets over the next few years.

Several of Canada’s biggest banks have been pushing for further U.S. expansion to take advantage of the much larger market, including RBC which operates the Los Angeles-based City National bank.

This report by The Canadian Press was first published March 17, 2026.