false2025-01-31Q10000927971--10-31Net of income tax (provision) of $(148) million, $(82) million, $(729) million for the three months ended.Net of income tax (recovery) of $(129) million, $(118) million, $(147) million for the three months ended.Net of income tax (provision) recovery of $(8) million, $21 million, $35 million for the three months ended.Net of income tax (provision) recovery of $34 million, $(16) million, $163 million for the three months ended.Net of income tax (provision) recovery of $208 million, $47 million, $(126) million for the three months ended.Net of income tax provision of $2 million, $7 million, $2 million for the three months ended.Amounts are net of ACL of $4 million ($4 million as at October 31, 2024).Changes in unrealized gains (losses) on Trading and FVTPL securities still held on January 31, 2025 and January 31, 2024 are included in earnings for the period.Interest expense for liabilities carried at fair value is $720 million for the three months ended January 31, 2025 ($529 million for the three months ended January 31, 2024). Interest expense for liabilities carried at amortized cost is $10,505 million for the three months ended January 31, 2025 ($10,604 million for the three months ended January 31, 2024).Other liabilities include certain investment contract liabilities and segregated fund liabilities in our insurance business, as well as certain securitization and structured entities’ liabilities measured at FVTPL.Foreign exchange translation on assets and liabilities held by foreign operations is included in other comprehensive income, net foreign operations.Other assets include precious metals, segregated fund assets and investment properties in our insurance business, carbon credits, certain receivables and other items measured at fair value.Includes dividends paid on securities sold but not yet purchased.In computing diluted earnings per share, we excluded average stock options outstanding of 482,948 with a weighted-average exercise price of $153.89 for the three months ended January 31, 2025 (2,991,066 with a weighted-average exercise price of $132.29 for the three months ended January 31, 2024), as the average share price for the periods did not exceed the exercise price.Gains are net of (losses) on hedge contracts.Trading securities include interests of $28,120 million as at January 31, 2025 ($21,485 million as at October 31, 2024) in Collateralized Mortgage Obligations (CMO). We receive CMO in return for our sales of Mortgage Backed Securities (MBS) to certain structured vehicles that we do not consolidate. When we subsequently sell these CMO to third parties, but do not transfer substantially all risks and rewards of ownership to the third-party investor, or we maintain an interest in the sold instrument, we retain these CMO on our Consolidated Balance Sheet. Refer to Note 7 of our annual consolidated financial statements for the year ended October 31, 2024 for further discussion on these vehicles.Amounts are net of ACL of $3 million ($3 million as at October 31, 2024).Net of income tax (provision) recovery of $(45) million, $55 million, $(99) million for the three months ended.Net of income tax (provision) recovery of $4 million, $1 million, $(3) million for the three months ended.The low and high input values represent the lowest and highest actual level of inputs used to value a group of financial instruments in a particular product category. These input ranges do not reflect the level of input uncertainty, but are affected by the specific underlying instruments within each product category. The input ranges will therefore vary from period to period based on the characteristics of the underlying instruments held at each balance sheet date.Deposits include structured note liabilities, money market and metals deposits designated at FVTPL and certain embedded options related to structured deposits carried at amortized cost.These amounts are either supported by insured mortgages or issued by U.S. agencies and government-sponsored enterprises. NHA refers to the National Housing Act. 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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
 
For the month of: February, 2025
  
Commission File Number: 001-13354
BANK OF MONTREAL
(Name of Registrant)
 
100 King Street West  
1 First Canadian Place   129 rue Saint-Jacques
Toronto, Ontario   Montreal, Quebec
Canada, M5X 1A1   Canada, H2Y 1L6
 
(Executive Offices)
 
 
(Head Office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form
20-F
   Form
40-F 
 
 
INCORPORATION BY REFERENCE
The information contained in this Form 6-K and any exhibits hereto shall be deemed filed with the Securities and Exchange Commission (“SEC”) solely for purposes of incorporation by reference into and as part of the following registration statements of the registrant on file with and declared effective by the SEC:
 
1.
Registration Statement – Form F-3 – File No. 333-214934
 
2.
Registration Statement – Form F-3 – File No. 333-264388
 
3.
Registration Statement – Form S-8 – File No. 333-191591
 
4.
Registration Statement – Form S-8 – File No. 333-180968
 
5.
Registration Statement – Form S-8 – File No. 333-177579
 
6.
Registration Statement – Form S-8 – File No. 333-177568
 
7.
Registration Statement – Form S-8 – File No. 333-176479
 
8.
Registration Statement – Form S-8 – File No. 333-175413
 
9.
Registration Statement – Form S-8 – File No. 333-175412
 
10.
Registration Statement – Form S-8 – File No. 333-113096
 
11.
Registration Statement – Form S-8 – File No. 333-14260
 
12.
Registration Statement – Form S-8 – File No. 33-92112
 
13.
Registration Statement – Form S-8 – File No. 333-207739
 
14.
Registration Statement – Form S-8 – File No. 333-237522
 
15.
Registration Statement – Form S-8 – File No. 333-276007
 
 
 

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
    BANK OF MONTREAL
    By:  
/s/ Tayfun Tuzun
    Name:   Tayfun Tuzun
    Title:   Chief Financial Officer
Date
: February 25, 2025
    By:  
/s/ Paul V. Noble
    Name:   Paul V. Noble
    Title:   Corporate Secretary

EXHIBIT INDEX
 
Exhibit
Description of Exhibit
99.1
First Quarter 2025 Management’s Discussion and Analysis of Results of Operations and Financial Condition
99.2
First Quarter 2025 Consolidated Financial Statements
99.3
First Quarter 2025 Consolidated Capitalization of Bank of Montreal
101.
Interactive Data File (formatted as Inline XBRL)
104.
Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)