BMO Financial Group (TSX, NYSE: BMO) announced today that BMO’s Chicago-based U.S. subsidiary, Harris Bank, has completed the acquisition of New Lenox State Bank (NLSB). The purchase price was US$228.5 million and the acquisition was announced February 4, 2004.
Headquartered in New Lenox, Illinois, NLSB has eight full-service branches.
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified financial services organization. With total assets of $266 billion as at January 31, 2004 and 34,000 employees, BMO provides a broad range of retail banking, wealth management and investment banking products and solutions. BMO Financial Group serves clients across Canada and in the United States through its Canadian retail arm BMO Bank of Montreal; Chicago-based Harris Bank, a major U.S. mid-west financial services organization which also has wealth management offices across the United States; BMO Nesbitt Burns, one of Canada's leading full-service investment firms; and Harris Nesbitt, its U.S. investment and corporate banking operation.
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