The Bank of Montreal says it's selling 138 of its branches in the United States to First-Citizens Bank & Trust Co. and opening 150 others. Photo by THE CANADIAN PRESS/Jonathan Hayward

The Bank of Montreal says it’s selling 138 of its branches in the United States to First-Citizens Bank & Trust Co. and will open 150 others as it looks to optimize its branch network.

The branches being sold are mainly in North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma and Idaho, as well as select branches in Minnesota, one branch in Oregon and one branch in Illinois.

BMO plans to open 150 new branches over the next five years with the aim of improving its presence in U.S. markets where it has “opportunity to achieve critical mass” and further boost its business, it said. The

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