First Citizens Bank Completes Branch Acquisition, Expanding Presence Across the Midwest, Great Plains and West

First Citizens BancShares (FCNCA) completed the acquisition of 138 BMO Bank branches across 11 states, with expected deposits of $5.3B and loans of $700M. The deal may lower funding costs and expand market presence, but deposit retention and loan deployment are key risks. FCNCA held $151.03B in loans and $32.19B in borrowings as of June 2026.

First Citizens Bank completed the acquisition of 138 branches from BMO Bank, expanding its presence in the Midwest, Great Plains, and West. The bank assumed $5 billion in deposits and $650 million in loans, bringing its total assets to over $225 billion. First Citizens appointed regional leaders and committed $1 million to community investments.

First Citizens BancShares said it repaid $8.5 billion to the FDIC to reduce debt tied to its Silicon Valley Bank acquisition. It paid $2.5 billion on an FDIC purchase money note in Q2 and another $1 billion in July, with planned monthly payments of $500 million to $1 billion. The bank reported Q2 net interest income of $1.66 billion and net income of $672 million.

First Citizens BancShares (Nasdaq: FCNCA) reported Q2 2026 net income of $672 million, up from $534 million in Q1 2026. Adjusted net income rose to $691 million. Net interest income increased to $1.66 billion and NIM was 3.10%. The bank also agreed to acquire 138 BMO branches, expecting $5.3B deposits and $700M loans by Q3 2026.

FIRST CITIZENS BANCSHARES INC /DE/ (FCNCA) filed an SEC Form 8-K — Results of Operations and Financial Condition. EX-99.3 4 ex_993financialsupplement-.htm EX-99.3 Document Financial Supplement First Citizens BancShares, Inc. June 30, 2026 Summary Financial Data and Metrics Three Months Ended Increase (Decrease) From LQ (4) Six Months Ended Increase (Decrease) From PYTD dollars in millions, e

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