What is the total value of the PNC acquisition of FirstBank?

The total transaction value for PNC's acquisition of FirstBank is $4.1 billion.

When will PNC finalize the acquisition of FirstBank?

PNC expects to finalize the acquisition of FirstBank by January 5, 2026.

Which states will PNC expand into with the FirstBank acquisition?

PNC's acquisition of FirstBank will expand its presence in Colorado and Arizona.

Home / Business and Economy / PNC Seals FirstBank Deal: $4.1B Acquisition Approved

PNC Seals FirstBank Deal: $4.1B Acquisition Approved

15 Dec

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Summary

PNC's acquisition of FirstBank has received all required regulatory approvals.
The total transaction value for the FirstBank acquisition is $4.1 billion.
PNC's acquisition is set to finalize by January 5, 2026.

PNC Seals FirstBank Deal: $4.1B Acquisition Approved

PNC Financial Services Group has announced the receipt of all necessary regulatory approvals to finalize its acquisition of FirstBank Holding Company and its subsidiary, FirstBank. This milestone clears the path for PNC to integrate FirstBank's operations, including treasury management, payments, and digital banking services, into its national network. The transaction is slated for completion by January 5, 2026.

The approved acquisition represents a substantial $4.1 billion deal, comprising approximately 13.9 million shares of PNC common stock and $1.2 billion in cash. FirstBank, a privately held bank based in Lakewood, Colorado, holds assets totaling $26.8 billion as of June 30, 2025, and operates 95 branches across Colorado and Arizona.

This strategic move is expected to significantly broaden PNC's footprint in the Rocky Mountain region and the Southwest, enhancing its service offerings to customers in Colorado and Arizona. Following the full conversion of customer accounts, anticipated in mid-2026, PNC aims to leverage FirstBank's established presence to expand its coast-to-coast franchise.