Bank of Montreal to open over 130 new California locations

Core Viewpoint - Bank of Montreal (BMO) is expanding its presence in the U.S. by opening over 130 new financial centers in California and about 15 in Arizona over the next five years, following the sale of several branches last year [1][2]. Group 1: Expansion Strategy - BMO plans to open 150 new branches in the U.S. over the next five years, focusing primarily on California due to stronger client engagement and growth prospects [2]. - The bank's expansion includes three new financial centers in Greater Los Angeles, two in the Bay Area, and two in San Diego by 2026, which will create hundreds of jobs and enhance access to in-person banking services [4]. Group 2: Recent Acquisitions - In 2023, BMO acquired BNP Paribas' U.S. unit, Bank of the West, for $16.3 billion, gaining access to nearly 2 million customers and about 500 retail branches across the Midwest and Western U.S. [3]. Group 3: Market Performance - BMO's shares have increased by over 7% in 2026, outperforming its larger peer, Royal Bank of Canada [5].