News Releases

WHITBY, ONTARIO--(Marketwire - May 28, 2012) -

Editors Note: There is a photo associated with this press release.

BMO Bank of Montreal today announced the reopening of its new Whitby Mall full-service banking branch in Whitby at 1615 Dundas Street East - only a short distance from the previous location.

The new open-concept branch offers customers extended banking hours six days a week. The larger branch is designed to provide a great banking experience through a variety of financial services and conveniences, including:

• Services provided in six languages;
• Access to commercial account and deposit services;
• Two in branch ATMs and one drive-thru ATM; and
• Barrier-free access.

"We are excited to be opening our doors to our new location adjacent to Whitby Mall," said Nancy Comeau, Branch Manager, BMO Bank of Montreal. "With the spring home buying season underway, we encourage new and existing members of the community to come in and speak with our team about their home financing needs. BMO offers a new 10-year mortgage with a maximum 25-year amortization, which is modeled after our award-winning 5-year maximum 25-year amortization mortgage."

Ms. Comeau added that choosing a shorter amortization allows Canadians to build equity sooner and save on interest costs. For example, on a $400,000 mortgage at a 5 per cent interest rate, moving from a 30-year to a 25-year amortization can save upwards of $70,000 in interest over the life of the mortgage.

"The Greater Toronto Area is the heart of the Canadian economy, and continues to see strong demographic trends," said Robert Kavcic, Economist, BMO Capital Markets. "Whitby is no exception, with the population expanding by nearly 10 per cent in the past five years - well above the national average."

Beginning May 28^th, hours of operation at BMO's Whitby Mall branch will be extended to:

• 9:00 a.m. to 6:00 p.m. Monday to Wednesday;
• 9:00 a.m. to 8:00 p.m. Thursday and Friday; and
• 9:00 a.m. to 4:00 p.m. Saturday

The Whitby Mall grand opening celebration will take place on June 23^rd 2012.

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $525 billion as at April 30, 2012, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.

To view the photo associated with this press release, please visit the following link: http://www.marketwire.com/library/20120528-BMO-Whitby.jpg.