BMO Bank National Association

Headquarters

320 S Canal St
Chicago, IL 60606
See all branch locations →

ACH 07102566

Phone 888 340 2265

Notable Rates APY Vs.Others
Savings N.A. 5.55% →
1-Year CD N.A. 5.41% →
2-Year CD N.A. 5.25% →
5-Year CD N.A. 4.55% →
30-Year Mortgage 6.89% 4.91% →
15-Year Mortgage 6.60% 4.39% →
HELOC 4.74% 0.99% →

2024 Overview

General Bank Information

BMO Bank National Association is an FDIC insured institution located in Chicago, IL. It was founded in 1947 and has approximately $265.66 billion in assets. Customers can open an account at one of its 630 branches.

FDIC Insured Yes
FDIC Certificate # 16571
Date Established 1947
Assets $ 265.66 billion
Loans $ 146.14 billion
Deposits $ 206.60 billion
Capital $ 33.01 billion
 

For a more detailed analysis of BMO Bank National Association's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - May 23, 2024

Your Current Location: Virginia, VA 20146

Online Only Savings Rates of BMO Alto, a division of Bank of Montreal Harris

Online Savings Rates APY MIN MAX
Online Savings
5.10% $0 - Learn More

Online Only CD Rates of Bank of Montreal Harris

Online CD Rates APY MIN MAX
1 Year Add-on CD
2.00% $1,000 - Learn More
2-Year CD
1.50% $5,000 - Learn More

Online Only CD Rates of BMO Alto, a division of Bank of Montreal Harris

Online CD Rates APY MIN MAX
6 Month CD
5.15% $0 - Learn More
1-year CD
5.05% $0 - Learn More
24 Month CD
4.65% $0 - Learn More
3 Year CD
4.50% $0 - Learn More
4-Year CD
4.50% $0 - Learn More
5-Year CD
4.50% $0 - Learn More
Checking Rates APY MIN FEE
Smart Money™ Account 0.00% $0 $5.00 Learn MoreShow Less
Smart Advantage™ Account 0.00% $0 $0.00 Learn MoreShow Less
Premier™ Account 0.00% $25,000 $30.00 Learn MoreShow Less

Bank Offers

BMO Harris Drops Money Market Rate to 1.85% APY
Feb 20, 2020

Bank of Montreal Harris has been aggressively trying to move into the US online banking system with offers that are available only in certain states.    That rate offered by BMO has been lowered now from 1.95% APY to 1.85%.


Bank Online Offers

BMO Alto Lowers Most CD Rates
Dec 6, 2023

BMO lowered its 5-year, 4-year and 3-year CD rates today.   The rates had been 5.25%, 5.20% and 5.10% and are now 4.90%, 4.90% and 5%, respectively.

 


BMO Alto Lowers Its CD Rates Again
Feb 20, 2024

BMO Alto lowered its 1-year CD from 5.30 to 5.15% APY this morning.

BMO offered outstanding CD rates in December.  Now, two months later they are no longer rate competitive.



Loan Rates - May 23, 2024

Your Current Location: Virginia, VA 20146

Auto Loan Rates APR Rate Monthly Payment
5 Year 5.55% 5.55% $478.11
Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

BMO Bank National Association branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


BMO Bank National Association Locations



Climate Policy and Initiatives


BMO is aggressively courting renewable energy providers with its transition energy practice.

Updated April 3, 2024


Climate Score: D

BMO financing of fossil fuels continues to rise. It is one of the largest financier of the Canadian oil sands, investing billions of dollars into production of one of the earth's most climate-damaging fuel sources. While BMO boosts of its renewable energy lending, it is not believed to be a lender to any major US wind or solar projects.


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Financial Details

BMO Bank National Association Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of BMO Bank National Association. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
BMO Bank National Association U.S. Bank Average
4.1% 3.96%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of December 31, 2024, BMO Bank National Association had $1,437,889,000 in non-current loans and $8,747,000 in owned real estate. To cover these potential losses it had $33,014,288,000 in equity and $2,239,109,000 in loans loss reserves. That gives it a Texas Ratio of 4.1%.

Return on Equity
BMO Bank National Association U.S. Bank Average
1.41% 12.20%

BMO Bank National Association has a Return on Equity of 1.41% versus the BestCashCow average of 12.20%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
BMO Bank National Association U.S. Bank Average
12.43% 10.76%

BMO Bank National Association has a Capitalization of 12.43% versus the BestCashCow average of 10.76. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

BMO Bank National Association Balance Sheet Analysis

As of December 31, 2023, BMO Bank National Association had assets of $265,657,813,000, loans of $146,136,136,000, and deposits of $206,601,880,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

December 31, 2024
ASSETS
Cash & Balances due from depository institutions $ 27.88 billion
Interest-bearing balances $ 24.66 billion
Total securities $ 63.23 billion
Federal funds sold and reverse repurchase $ 148.09 million
Net loans and leases $ 146.14 billion
Loan loss allowance $ 2.24 billion
Trading account assets $ 141.40 million
Bank premises and fixed assets N.A.
Other real estate owned $ 8.75 million
Goodwill and other intangibles $ 13.28 billion
All other assets $ 7.02 billion
     Total Assets $ 232.64 billion
LIABILITIES
Total deposits $ 206.60 billion
      Interest-bearing deposits $ 158.42 billion
      Deposits held in domestic offices $ 206.60 billion
      % insured (estimated) 51.73%
Federal funds purchased and repurchase agreements $ 1,807.01 million
Trading liabilities $ 376.79 million
Other borrowed funds $ 11.31 billion
Subordinated debt $ 500.00 million
All other liabilities $ 2.27 billion
      Total Liabilities $ 232.64 billion
      Shareholders’ Equity $ 33.01 billion

Summary Income Statement

December 31, 2024
INCOME AND EXPENSES
Total Interest Income $ 12.80 billion
Total Interest Expense $ 5.22 billion
Net interest income $ 7.58 billion
Provision for loan and lease losses $ 1,452.23 million
Total non interest income $ 1,222.39 million
Total non interest expense $ 6.86 billion
Pre-tax Net Operating Income $ 1,103.99 million

Bank Loan Profile?

The top three loan types in BMO Bank National Association’s loan portfolio are Commercial and Industrial Loans, 1-4 Family Residential Loans, and Commercial Real Estate.

Compared to other banks in Illinois, BMO Bank National Association has a significantly higher percent of Credit Card Loans, Commercial and Industrial Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 6.12
Multifamily
Mortgages
0.72
Credit Card Loans 0.28
Consumer Auto Loans 3.76
Small Business Loans 1.75
Construction and Development Loans 2.13
Commercial Real Estate 6.09
Commercial and Industrial Loans 24.87
Farm Loans 0.23

Customer Reviews for BMO Bank National Association


  • January 29, 2024

    Tried to enter information on line to open a 5 year CD, multiple time and wasn't accepted. Talked to a live person who was of no help at all. My credit score is over 800 and I have plenty of money in other institutions, forget you.......

  • September 3, 2023

    CDs 12 Month Rates

    I do not recommend this bank! I want a cd at 5%, and they have all kinds of legal hurdles to jump through to put the CD in a living trust for my children if anything happens to me. It is documented, but they requested all kinds of documents. So, I went with my local credit union offering the same interest rate, with a whole lot less hassle and they easily accepted my living trust for my children! I refuse to work with a bank that isn't user friendly, especially if I have the money to invest in a CD! BMO doesn't deserve my business!

  • March 13, 2023 |

    CDs 12 Month Rates

    This rate is phony - check the bank website: 0.05% for 1 yr CD !!!

  • December 20, 2022 |

    CDs 60 Month Rates

    Excellent customer service. Professional, informative and courteous.

  • December 5, 2022 |

    BMO is a very large bank with many customers and branches. I have been with it ever since it acquired a local bank in 2011 with whom I had accounts. I think that the biggest thing to take from the reviews is that they are small in number. People that are satisfied are unlikely to write reviews. If there are only 3 negative ones attributed to a bank of this scale, collectively that forms a positive review. As regards my experience with this bank, I find it at least comparable to other large banks of its size and likely a bit better than average.


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