PNC Set to Acquire FirstBank
The acquisition strengthens PNC’s strategy to grow its presence nationally
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- Written by Banking Exchange staff
PNC Financial Services will acquire FirstBank for $4.1 billion in early 2026, a move designed to accelerate its expansion and bring the regional bank closer to a coast-to-coast presence.
The acquisition adds FirstBank’s $26.8 billion in assets and 95 branches across Colorado and Arizona to PNC’s network. FirstBank holds a leading position in Colorado and a significant footprint in Arizona, providing both commercial and retail banking services.
Combining the two banks will significantly strengthen PNC’s presence in these fast-growing markets and align with its broader strategy of scaling through organic growth and strategic acquisitions. Colorado will become one of PNC’s top markets, with the branch network more than tripling to 120 locations.
In Denver specifically, PNC will become the top bank for retail deposit share (20%) and branch share (14%), making the city a major hub for its commercial and business banking operations.
The acquisition will also expand PNC’s branch network in Arizona to over 70 locations, adding 13 FirstBank branches. Building on FirstBank’s established local relationships, PNC intends to further grow its corporate and private banking franchises in both states.
William Demchak, chairman and CEO of PNC, said: "FirstBank is the standout branch banking franchise in Colorado and Arizona, with a proud legacy built over generations by its founders, management, and employees.
"Its deep retail deposit base, unrivaled branch network in Colorado, growing presence in Arizona, and trusted community relationships make it an ideal partner for PNC."
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