Home / Business and Economy / PNC Bank Expands West with $4.1B Acquisition of FirstBank
PNC Bank Expands West with $4.1B Acquisition of FirstBank
8 Sep
Summary
- PNC Bank to acquire smaller peer FirstBank in $4.1 billion deal
- Acquisition will increase PNC's presence in Colorado and Arizona
- Deal marks first regional bank merger since Trump-era deregulation
On September 8, 2025, PNC Bank, one of the largest regional banks in the United States, announced that it will acquire smaller peer FirstBank in a $4.1 billion cash and stock transaction. The deal, which has been approved by the boards of both banks, is expected to close in early 2026.
The acquisition will significantly increase PNC's presence in the western United States, adding FirstBank's "deep retail deposit base, unrivalled branch network in Colorado, growing presence in Arizona, and trusted community relationships." According to PNC's chair and CEO William Demchak, the deal makes FirstBank an "ideal partner" for the Pittsburgh-based bank.
The merger marks the first major regional bank consolidation since the election of former US President Donald Trump, whose administration ushered in a period of deregulation in the banking industry. Industry analysts believe this transaction could pave the way for further mergers and acquisitions among regional lenders as they seek to compete with national banking giants.
