M&I Bank Bought By BMO
Canadian Bank BMO Financial Group said it has agreed to buy Marshall & Ilsley (M&I) Bank for $4.1 billion in stock in an effort to expand its North American business.
BMO, which was founded as Bank of Montreal back in 1817, operates banks in the U.S. under the Harris Bank name.
This is BMO’s second big purchase of a bank with Wisconsin ties in the past year. In April, BMO bought the assets of Amcore Bank of Rockford, Ill. with the help of the Federal Deposit Insurance Corporation (FDIC). They then rebranded branches in Wisconsin under the Harris name.
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