01—Abstract
Summary
Summary of the 8-K filed September 8, 2026. Cited figures are marked; the original filing is the authoritative source.
First Citizens BancShares (FCNCA) disclosed in this Form 8-K, filed September 8, 2026, that its banking subsidiary, First-Citizens Bank & Trust Company, completed the acquisition of 138 branches from BMO Bank N.A.
The branches are located across the Midwest, Great Plains and West, and the transaction became effective September 4, 2026. Per the attached press release, the bank assumed approximately $5 billiona in deposits and $650 million in loans as part of the deal. The acquisition expands First Citizens' retail and commercial footprint into states including North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma, Idaho, western Minnesota, eastern Oregon and southern Illinois.
The bank states it now has more than 600 branches and offices nationwide and more than $225 billionb in total assets. The filing does not disclose purchase price, goodwill, capital impact, or expected earnings contribution, so investors should look to subsequent filings and earnings disclosures for those details. For investors, the deal is a deposit-led growth move with modest loan balances relative to the deposit base.
The transaction is largely a deposit franchise acquisition, and the stated $1 millionc community investment is immaterial to financial results. The 8-K itself is informational and contains no new guidance or financial statements.
02—Key points
Key Highlights
- Completed acquisition of 138 branches from BMO Bank N.A., effective September 4, 2026, across the Midwest, Great Plains and West
- Assumed approximately $5 billion in deposits and approximately $650 million in loans as part of the branch acquisition
- Post-transaction, the bank reports more than 600 branches and offices nationwide and more than $225 billion in total assets
- Expands presence into new or expanded markets including North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma, Idaho, western Minnesota, eastern Oregon and southern Illinois
- Appointed regional leaders to cover the Heartland, Northeast Region and St. Louis, Community in the West, Kansas and Missouri, and Omaha
- Committed approximately $1 million in community investment across 2026 and 2027, which is immaterial to financial results
- The filing does not disclose purchase price, goodwill, capital impact or expected earnings contribution
03—Questions
Frequently Asked Questions
What did First Citizens acquire and when did the deal close?
First-Citizens Bank & Trust Company, the wholly owned banking subsidiary of First Citizens BancShares, acquired 138 branches from BMO Bank N.A. The transaction was effective September 4, 2026, and the bank announced the completed conversion on September 8, 2026.
How large is the acquired business in terms of deposits and loans?
According to the press release, the bank assumed approximately $5 billion in deposits and $650 million in loans. The loan figure is small relative to the deposit base, which indicates the transaction is primarily a deposit acquisition.
Which geographic markets does the acquisition add?
The branches span the Midwest, Great Plains and West. The bank cites North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma, Idaho, western Minnesota, eastern Oregon and southern Illinois as part of its expanded network.
Does this filing disclose the purchase price or financial impact of the deal?
No. The 8-K and attached press release do not disclose the purchase price, goodwill, capital effects, or expected earnings contribution. Investors should review future quarterly reports and earnings calls for these details.
Does the filing include any change to guidance or new financial results?
No. The filing is an informational disclosure under Item 8.01 (Other Events) and does not include new financial statements or updated guidance.
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