17 Wis. banks to close as result of M&I sale

8 branches of Harris Bank set to close are in Milwaukee

Wisconsin will see 17 banks close in connection with BMO Financial Group’s acquisition of M&I Bank.

The Milwaukee Journal-Sentinel reported Friday that all but one of the Wisconsin locations to close are branches of Harris Bank, which BMO owns.

One M&I branch in Reedsburg is also closing.

In all, 24 banks in four states are closing with about 130 jobs eliminated in the process.

BMO spokesman Jim Kappel said the company will try to place employees in open positions within the company.

Eight of the branches set for closing are in the Milwaukee area. Others to close are three in Madison, and banks in La Crosse, Cecil, Sauk City, Sheboygan Falls, West Salem and Reedsburg.

Toronto-based BMO acquired Milwaukee’s M&I last year for $4.1 billion. At the time it was the largest bank based in Wisconsin.