BMO Harris Bank is headquartered in Chicago and is the 2nd largest bank in the state of Illinois. It is also the 25th largest bank in the nation. It was established in 1947 and as of March of 2016, it had grown to 12,439 employees at 641 locations. BMO Harris Bank has an A+ health rating.
Overall, BMO Harris is a good bank, with a strong and stable parent company, BMO. However, I feel their products are less competitive then their American counterparts. Many of their products seem more..."international" where everything has a charge or fee. Perhaps we are too use to getting everything for free?
I was a longtime customer of M&I before Harris BMO takeover. Since BMO, they take "service fees" out of my checking account every month. Each time they admit it is an error but they keep on doing it. If I didn't frequently check on my account, Harris BMO would get away with ripping me off each month. I am looking for another bank which is too bad because I am known to the staff at my local branch and really like them.
BMO Harris acquired the bank I had all my accounts with for 30 plus years-M&I Bank. I was all in with M&I and had all my checking, savings, mortgage, line of credit, credit card, online banking, bill pay and brokerage accounts with them. Of course, all of this stuff moved to BMO Harris when they acquired M&I.
The first thing BMO Harris did was kick me out of Private Banking. Some idiot VP just sent me a letter and said I needed to work with branch personnel moving forward. Next, they called me and said they wanted to close my line of credit account because I was not using it enough.
The online services (online banking, bill pay) were terrible compared to the services I had previously.
At this point, I have closed all my accounts with these clowns and have moved everything to Wells Fargo. I found it absolutely astounding that as I moved all my money and closed all the accounts, no one from BMO Harris ever called me to see if there was a problem.
The morons from BMO (Bank of Montreal) are used to having a monopoly like they do up in Canada. And they don't have a flipping clue what customer friendly means. I find it ironic that the Bank's byline is "We're here to help". What a crock!!!
|FDIC Certificate #||16571|
|Return on Assets - YTD||0.56%|
|Return on Equity - YTD||3.72%|
|Annual Interest Income||$713.2MM|
|Assets and Liabilities|
|Assets||Q1 2016vs Q1 2015||$104.4B$96.89B|
|Loans||Q1 2016vs Q1 2015||$65.26B$53.87B|
|Deposits||Q1 2016vs Q1 2015||$81.71B$75.88B|
|Equity Capital||Q1 2016vs Q1 2015||$15.79B$15.29B|
|Loan Loss Allowance||Q1 2016vs Q1 2015||$683.4MM$754.8MM|
|Unbacked Noncurrent Loans||Q1 2016vs Q1 2015||$822.0MM$1.05B|
|Real Estate Owned||Q1 2016vs Q1 2015||$86.6MM$70.6MM|
Rates for BMO Harris Bank are currently being reviewed.