BMO Harris Bank, a subsidiary of BMO Financial Group (NYSE, TSX: BMO), is a bank headquartered in Chicago that primarily serves the Midwestern United States and Arizona & Florida. BMO Harris's parent company, BMO Financial (also known as the Bank of Montreal) is the is the 26th largest financial institution in the United States with over $110 billion in assets; the bank itself is the 16th largest US commercial bank. BMO Harris Bank offers mortgage loans, CDs, savings accounts, auto loans, and other financial institutions to consumers in eight states.
The history of BMO Harris dates back to 1882, when Norman Wait Harris created a bond brokerage called NW Harris & Co. in Chicago. Harris Trust & Savings was formed in 1907, which became Harris Bankcorp in 1972 after a merger with Chicago National Bank. The Bank of Montreal purchased Harris Bankcorp in 1984. Harris has grown through a combination of organic growth and strategic acquisitions, which include State Bank of St. Charles, and Villa Park Trust and Savings Bank. In 2005, Harris Trust and Savings Bank became BMO Harris. Today, the bank operates 600 banking branches and nearly 1,300 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Arizona, and Florida.
BMO Harris provides the communities that it serves with a full sampling of financial products. On the personal banking side, this includes certificates of deposit, traditional savings and checking products, and retirement accounts. On the lending side, BMO Harris offers home equity loans and mortgages. The bank's website does an excellent job breaking down various mortgage options for consumers, and BMO Harris offers a variety of affordable mortgage programs to consumers.
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