Yes, Martin Luther King Jr. Day is one of 11 federal holidays recognized in the United States. Most grocery stores will hold normal hours on Martin Luther King Jr. Day. Most banks will be closed on Martin Luther King Jr. Day, since it is a federal holiday and the Federal Reserve will be closed.

Many public institutions will close for Martin Luther King Jr. Day Monday, while some private businesses will remain open. Here's what to know.

Martin Luther King Jr. Day is observed in the United States on the third Monday of January. This year coincides with the inauguration of President-elect Donald Trump. Here is what to know about what businesses and services will remain open and which ones will take the day off.