National CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


National  + Finance  | 
Bank of the West branch Gillette Wyoming

BMO Financial to Acquire Bank of the West for $16.3B

BNP Paribas will sell its Bank of the West unit to BMO Financial Group for US$16.3 billion in cash, the two companies announced Monday. Expected to close in 2022, the sale will mark BNP Paribas’ exit from U.S. retail and commercial banking, including an active commercial real estate platform. 

On closing, the acquisition will bring nearly 1.8 million customers to BMO and will further extend its banking presence through 514 additional branches and commercial and wealth offices in key U.S. growth markets. Approximately 70% of Bank of the West’s deposits are in California. 

“With the strength of our performance and our integrated North American foundation, we have never been better positioned to take this next step in our growth strategy and to deliver for the new customers and colleagues we look forward to welcoming to BMO,” said BMO’s CEO, Darryl White. “This acquisition will add meaningful scale, expansion in attractive markets, and capabilities that will enable us to drive greater growth, returns and efficiencies.” 

For its part, BNP Paribas said it benefits from a long-term presence in the U.S., notably a strong corporate & institutional banking franchise. The sale won’t affect these businesses, the company said. 

Pictured: A Bank of the West branch in Gillette, WY. Photo credit: Wikipedia.


Inside The Story

BMO FinancialBNP Paribas

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Step 1: Select Education
  • ◦Sale/Acquisition
New call-to-action