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BMO Harris Bank, N.A. is an American
bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...
based in
Chicago, Illinois (''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = Country , subdivision_name ...
. It is a member of the
Federal Reserve System The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after ...
and operates branches in the states of
Illinois Illinois ( ) is a state in the Midwestern United States. Its largest metropolitan areas include the Chicago metropolitan area, and the Metro East section, of Greater St. Louis. Other smaller metropolitan areas include, Peoria and Rock ...
,
Indiana Indiana () is a U.S. state in the Midwestern United States. It is the 38th-largest by area and the 17th-most populous of the 50 States. Its capital and largest city is Indianapolis. Indiana was admitted to the United States as the 19th ...
,
Arizona Arizona ( ; nv, Hoozdo Hahoodzo ; ood, Alĭ ṣonak ) is a state in the Southwestern United States. It is the 6th largest and the 14th most populous of the 50 states. Its capital and largest city is Phoenix. Arizona is part of the Fou ...
,
Missouri Missouri is a state in the Midwestern region of the United States. Ranking 21st in land area, it is bordered by eight states (tied for the most with Tennessee): Iowa to the north, Illinois, Kentucky and Tennessee to the east, Arkansas t ...
,
Minnesota Minnesota () is a state in the upper midwestern region of the United States. It is the 12th largest U.S. state in area and the 22nd most populous, with over 5.75 million residents. Minnesota is home to western prairies, now given over t ...
,
Kansas Kansas () is a U.S. state, state in the Midwestern United States, Midwestern United States. Its Capital city, capital is Topeka, Kansas, Topeka, and its largest city is Wichita, Kansas, Wichita. Kansas is a landlocked state bordered by Nebras ...
,
Florida Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, and ...
,
Wisconsin Wisconsin () is a state in the upper Midwestern United States. Wisconsin is the 25th-largest state by total area and the 20th-most populous. It is bordered by Minnesota to the west, Iowa to the southwest, Illinois to the south, Lake M ...
, and
California California is a state in the Western United States, located along the Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the most populous U.S. state and the 3rd largest by area. It is also the m ...
. BMO Harris Bank has over 600 branches and 1,300 ATMs and employs 14,500 staff in the United States. BMO Harris Bank is one of the largest banks in the United States. The bank is an independent subsidiary of the multinational
investment bank Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing i ...
and
financial services Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, ...
company
Bank of Montreal The Bank of Montreal (BMO; french: Banque de Montréal, link=no) is a Canadian multinational investment bank and financial services company. The bank was founded in Montreal, Quebec, in 1817 as Montreal Bank; while its head office remains in ...
, commonly known as "BMO" (pronounced ), which owns BMO Harris Bank through the
holding company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...
BMO Financial Corporation (formerly Bankmont Financial Corporation, then Harris Financial Corporation). Harris Bank traced its history to 1882 in Chicago, and became an acquired subsidiary of Bank of Montreal in 1984.


History

In 1882, Norman Wait Harris established N.W. Harris & Co., a Chicago-based municipal bond broker and the forerunner of Harris Bank. Harris Trust and Savings Bank was established 1907. It merged with Chicago National Bank in 1960 and was restructured as Harris Bank, N.A. in 1972.
Bank of Montreal The Bank of Montreal (BMO; french: Banque de Montréal, link=no) is a Canadian multinational investment bank and financial services company. The bank was founded in Montreal, Quebec, in 1817 as Montreal Bank; while its head office remains in ...
(later known as BMO Financial Group) acquired Harris in 1984. The bank grew rapidly through a series of acquisitions beginning with the First National Bank of Barrington in 1985, State Bank of St. Charles and First National Bank of Batavia in 1988 and Libertyville Federal Savings Bank and Loan and Frankfort Bancshares in 1990. Harris Bankcorp and
Suburban Bancorp Suburban Bancorp, Inc. was a publicly traded multibank holding company headquartered in suburban Chicago. It was founded by Gerald F. Fitzgerald, father of former U.S. Senator Peter Fitzgerald, and majority owned by the Fitzgerald family. Bank o ...
combined under the Harris name in 1994 and two years later, the company acquired 54 Chicago area branches from Household Bank. In 1999, the direct brokerage firm Burke, Christensen & Lewis merged with Harris Investors Direct to form Harris InvestorLine. The company's further acquisitions include Freeman Welwood in 2000; Village Bank of
Naples Naples (; it, Napoli ; nap, Napule ), from grc, Νεάπολις, Neápolis, lit=new city. is the regional capital of Campania and the third-largest city of Italy, after Rome and Milan, with a population of 909,048 within the city's adm ...
, and Century Bank (Arizona) and First National Bank of Joliet in 2001; Northwestern Trust and Investors Advisory Company (
Seattle Seattle ( ) is a seaport city on the West Coast of the United States. It is the seat of King County, Washington. With a 2020 population of 737,015, it is the largest city in both the state of Washington and the Pacific Northwest region o ...
) in 2002. Also in 2002, InvestorLine combined with CSFBdirect to form Harrisdirect and Harris acquired online client accounts of
Morgan Stanley Morgan Stanley is an American multinational investment management and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in more than 41 countries and more than 75,000 employees, the fir ...
Individual Investor Group and myCFO. The following year, it purchased Sullivan, Bruyette Speros & Blayney Incorporated, followed by Lakeland Community Bank in Round Lake, and Villa Park Trust and Savings Bank in 2005. BMO continued its acquisitions in 2007 with First National Bank & Trust, (
Kokomo, Indiana Kokomo ( ) is a city in Indiana and the county seat of Howard County, Indiana, United States. It is the principal city of the Kokomo, Indiana Metropolitan Statistical Area, which includes all of Howard County, the Kokomo-Peru CSA, which include ...
) followed by Ozaukee Bank, ( Cedarburg, Wisconsin) and Merchant and Manufacturers Bankcorp Inc., (
New Berlin, Wisconsin New Berlin () is a city located along the Milwaukee /Waukesha County Border in the U.S. State of Wisconsin. The population was 40,451 at the 2020 census, making it the third-largest community in Waukesha County after the cities of Waukesha ...
) in 2008 and Amcore Bank N.A. (
Rockford, Illinois Rockford is a city in Winnebago County, Illinois, located in the far northern part of the state. Situated on the banks of the Rock River, Rockford is the county seat of Winnebago County (a small portion of the city is located in Ogle County). ...
) on April 23, 2010. On December 17, 2010, Bank of Montreal agreed to purchase
Milwaukee Milwaukee ( ), officially the City of Milwaukee, is both the most populous and most densely populated city in the U.S. state of Wisconsin and the county seat of Milwaukee County. With a population of 577,222 at the 2020 census, Milwaukee i ...
-based Marshall & Ilsley Corporation in an all-stock transaction valued at about US$4.1 billion. Marshall & Ilsley and Harris Bankcorp were both rebranded as BMO Harris. The company restructured as BMO Bankcorp July 5, 2011. In December 2015, the company completed its acquisition of General Electric Capital Corp.'s transportation finance business. BMO was the bank with the second-most deposits in Chicago by June 2018, with 11.5% market share. Also that month, its BMO Harris division was operating in eight states in the US. In December 2021, Bank of Montreal agreed to purchase
Bank of the West Bank of the West is an American financial institution headquartered in San Francisco, California, United States. It is a subsidiary of the French international banking group BNP Paribas and has more than 600 branches and offices in the Midwes ...
with the intent on merging it with BMO Harris Bank, which would at least double BMO's U.S. presence.


Operations

BMO Harris Bank is one of the largest banks in the Midwest with over 600 branches and approximately 1,300 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Arizona, Florida and California. It is the second-largest Chicago-area bank based on market share, behind
JPMorgan Chase JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. As of 2022, JPMorgan Chase is the largest bank in the United States, t ...
, and the second largest US subsidiary of a Canadian bank after
TD Bank, N.A. TD Bank, N.A. is an American national bank and the United States subsidiary of the multinational TD Bank Group. It operates primarily across the East Coast, in fifteen U.S. states and Washington, D.C. TD Bank is the seventh-largest U.S. bank b ...
(owned by the
Toronto-Dominion Bank Toronto-Dominion Bank (french: links=no, Banque Toronto-Dominion), doing business as TD Bank Group (french: links=no, Groupe Banque TD), is a Canadian multinational banking and financial services corporation headquartered in Toronto, Ontario. T ...
). BMO Harris Bank, N.A. is the issuer of the
Diners Club A diner is a small, inexpensive restaurant found across the United States, as well as in Canada and parts of Western Europe. Diners offer a wide range of foods, mostly American cuisine, a casual atmosphere, and, characteristically, a com ...
cards in United States.


Headquarters

BMO Harris is headquartered in a complex of three buildings in Chicago's
Loop Loop or LOOP may refer to: Brands and enterprises * Loop (mobile), a Bulgarian virtual network operator and co-founder of Loop Live * Loop, clothing, a company founded by Carlos Vasquez in the 1990s and worn by Digable Planets * Loop Mobile, an ...
neighborhood. The original 21-story building was constructed in 1910 at 119 West Monroe Street. The entrance to the building is flanked by two
bas-relief Relief is a sculptural method in which the sculpted pieces are bonded to a solid background of the same material. The term '' relief'' is from the Latin verb ''relevo'', to raise. To create a sculpture in relief is to give the impression that th ...
sculptures of lions, which inspired various iterations of the bank's logo until 2011, along with the bank's
mascot A mascot is any human, animal, or object thought to bring luck, or anything used to represent a group with a common public identity, such as a school, professional sports team, society, military unit, or brand name. Mascots are also used as ...
character, Hubert the Lion. In 1960, a 23-story structure was added to the east with the address of 111 West Monroe. In 1974, a second 38-story tower was added to the west with the address of 115 South LaSalle Street. Both additions were designed by the firm of Skidmore, Owings and Merrill and are in the
modern Modern may refer to: History *Modern history ** Early Modern period ** Late Modern period *** 18th century *** 19th century *** 20th century ** Contemporary history * Moderns, a faction of Freemasonry that existed in the 18th century Philosophy ...
style. The bank uses the address of the 1960 building. In December 2018, the bank announced it would move its headquarters to 14 floors of a 50-story office tower adjacent to
Chicago Union Station Chicago Union Station is an intercity and commuter rail terminal located in the Near West Side neighborhood of Chicago, Illinois. The station is Amtrak's flagship station in the Midwest. While serving long-distance passenger trains, it is also ...
. The bank expects the new BMO Tower to be ready in 2022. Additionally, notable BMO Harris buildings are located in
Milwaukee Milwaukee ( ), officially the City of Milwaukee, is both the most populous and most densely populated city in the U.S. state of Wisconsin and the county seat of Milwaukee County. With a population of 577,222 at the 2020 census, Milwaukee i ...
( BMO Harris Financial Center), at 770 North Water Street, and
Indianapolis Indianapolis (), colloquially known as Indy, is the state capital and most populous city of the U.S. state of Indiana and the seat of Marion County. According to the U.S. Census Bureau, the consolidated population of Indianapolis and Marion ...
(
BMO Plaza BMO Plaza, formerly the M&I Plaza, is a high-rise office building located at 135 North Pennsylvania Street in Indianapolis, Indiana. It was completed in 1988 and is currently the sixth-tallest building in the city, at with 28 stories. It is pri ...
). In 2017, the bank began construction of a 25-story ''BMO Tower'' at North Water and East Wells, adjacent to its current Milwaukee headquarters. The bank expects to occupy of the building beginning in December 2019. In August 2017, the BMO Harris sold the 20-story structure it currently occupies to real estate firm Irgens who plans to remodel and lease it.


Naming rights and sponsorships

BMO Harris Bank owns corporate
naming rights Naming rights are a financial transaction and form of advertising or memorialization whereby a corporation, person, or other entity purchases the right to name a facility, object, location, program, or event, typically for a defined period of ...
to the following: * BMO Center in
Rockford, Illinois Rockford is a city in Winnebago County, Illinois, located in the far northern part of the state. Situated on the banks of the Rock River, Rockford is the county seat of Winnebago County (a small portion of the city is located in Ogle County). ...
*BMO Harris Pavilion at
Summerfest Summerfest is an annual music festival held in downtown Milwaukee, Wisconsin. First held in 1968, Summerfest is located at Henry Maier Festival Park, adjacent to Lake Michigan and Milwaukee's central business district. Summerfest attracts app ...
in
Milwaukee Milwaukee ( ), officially the City of Milwaukee, is both the most populous and most densely populated city in the U.S. state of Wisconsin and the county seat of Milwaukee County. With a population of 577,222 at the 2020 census, Milwaukee i ...
– Official Sponsor of Summerfest. BMO Harris Bank is a sponsor of: *
Chicago Bulls The Chicago Bulls are an American professional basketball team based in Chicago. The Bulls compete in the National Basketball Association (NBA) as a member of the league's Eastern Conference Central Division. The team was founded on January ...
– Official bank of the Chicago Bulls. *
Chicago Blackhawks The Chicago Blackhawks (spelled Black Hawks until 1986, and known colloquially as the Hawks) are a professional ice hockey team based in Chicago. The Blackhawks compete in the National Hockey League (NHL) as a member of the Central Divisio ...
– Official bank of the Chicago Blackhawks. *
Chicago White Sox The Chicago White Sox are an American professional baseball team based in Chicago. The White Sox compete in Major League Baseball (MLB) as a member club of the American League (AL) Central division. The team is owned by Jerry Reinsdorf, and ...
– Official partner of the Chicago White Sox. *
Milwaukee Bucks The Milwaukee Bucks are an American professional basketball team based in Milwaukee. The Bucks compete in the National Basketball Association (NBA) as a member of the league's Eastern Conference Central Division. The team was founded in 196 ...
– Official bank of the Milwaukee Bucks. *
Minnesota Wild The Minnesota Wild are a professional ice hockey team based in Saint Paul, Minnesota. The Wild competes in the National Hockey League (NHL) as a member of the Central Division in the Western Conference and play their home games at the Xcel Ener ...
– Official partner of the Minnesota Wild. * Wisconsin Badgers Athletics – Official partner of the UW-Madison Badgers. *
Rockford IceHogs The Rockford IceHogs are a professional ice hockey team based in Rockford, Illinois. They are members of the American Hockey League (AHL), having begun play in the League starting in the 2007–08 season. The team plays their home games at the ...
of the AHL, the
Chicago Blackhawks The Chicago Blackhawks (spelled Black Hawks until 1986, and known colloquially as the Hawks) are a professional ice hockey team based in Chicago. The Blackhawks compete in the National Hockey League (NHL) as a member of the Central Divisio ...
affiliate – Official bank of the Rockford IceHogs.


See also

* Harris, Hall & Co., securities affiliate established in 1934, following passage of the
Glass Steagall Act Glass is a non-crystalline, often transparent, amorphous solid that has widespread practical, technological, and decorative use in, for example, window panes, tableware, and optics. Glass is most often formed by rapid cooling ( quenching) ...
and acquired by Dean Witter & Co. in 1953 * Harris, Forbes & Co., securities affiliate established in 1911 and acquired by Chase Manhattan Bank in 1930


References


External links

* {{Bank of Montreal Banks based in Illinois
Harris Bank BMO Harris Bank, N.A. is an American bank based in Chicago, Illinois. It is a member of the Federal Reserve System and operates branches in the states of Illinois, Indiana, Arizona, Missouri, Minnesota, Kansas, Florida, Wisconsin, and Californ ...
Banks based in Chicago American subsidiaries of foreign companies Banks established in 1882 1882 establishments in Illinois 1984 mergers and acquisitions