BMO Financial Group

BMO Financial Group
BMO Bank of Montreal

BMO Bank of Montreal

March 26, 2013 09:00 ET

BMO Builds in the Hammer: Increases Investment with New Branch in Historic Neighbourhood

New branch represents a $1.3 million investment in the community

- BMO offering support to local businesses by making $10 billion available

- Forecasts 15,000 new jobs over the next five years

- Most local businesses have a renewed sense of optimism

HAMILTON, ONTARIO--(Marketwire - March 26, 2013) - BMO Bank of Montreal today announced the opening of a new branch in one of Hamilton's historic neighbourhoods.

The newly relocated James & Barton branch to the James & Colbourne location represents an investment of $1.3 million into the vibrant and growing city of Hamilton. It offers customers extended banking hours and is designed to provide a great banking experience through a variety of financial services and conveniences, including:

  • Services provided in three different languages;
  • Access to commercial account and deposit services - including a 24 hour depository for small business after-hours use;
  • An ATM; and
  • Barrier-free access.

"Most local businesses we talk to have a renewed sense of optimism, and a desire to pursue growth plans that are at the very heart of the transformation that is taking place across the region," said Rick Jaques, Vice President, South Central Ontario. "I strongly believe that BMO's commitment to make $10 billion in credit available for businesses can make a big difference to companies investing in Hamilton."

"We welcome BMO's expansion in Hamilton and their contribution to the bright economic future of our city. Hamilton and the surrounding region boasts a healthy housing market, increasing population and an overall economy that's building momentum and opportunities that will keep our city and our country strong and growing," said Bob Bratina, Mayor, City of Hamilton.

BMO Economics forecasts that 15,000 new jobs will be created in Hamilton over the next five years. "Hamilton's labour market has been relatively steady, with the jobless rate sitting below 6 per cent in February, more than a full percentage point below the national average," said Robert Kavcic, Senior Economist, BMO Capital Markets.

Mr. Kavcic added that housing affordability remains relatively attractive, with prices averaging slightly more than four times the estimated median family income. He also noted that non-residential construction will get a boost from the upcoming 2015 Pan-Am Games, including the building of a $146 million stadium.

In celebration of the branch opening, customers who open an account with the Kids Discounted Program and deposit $25 between March 25 and April 30 will receive another $25 courtesy of BMO.

The new branch's extended hours of operation are:

  • 9 a.m. to 5 p.m. Monday to Thursday;
  • 9 a.m. to 8 p.m. Friday; and
  • 9 a.m. to 4 p.m. Saturday.

About BMO Bank of Montreal in Hamilton

BMO Bank of Montreal was founded in 1817 and has been serving the Hamilton community since 1843. BMO supports leading education, health-care, cultural and not-for-profit institutions in the Hamilton area through donations and sponsorships, including McMaster University, Art Gallery of Hamilton, Good Shepherd Centre Hamilton, St Joseph's Health Centre Foundation, United Way of Burlington & Greater Hamilton, Ronald McDonald House Hamilton, Mohawk College, the Living Rock Organization for Teens, Lunch programs for Kids, and Vasco Da Gama Soccer Club.

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 $542 billion as at January 31, 2013, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.

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