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# PNC Financial Services Agrees to Acquire Colorado's FirstBank for USD 4.1 Billion
- URL: https://www.theglobalbanker.com/pnc-financial-services-agrees-acquire-firstbank-colorado-4-1-billion/
- Published: 2025-09-08T14:54:00.000Z
- Updated: 2026-10-02T14:10:09.000Z
- Description: PNC Financial Services has agreed to buy FirstBank Holding Company for USD 4.1 billion.
- Author: TGB Editorial Team
- Tags: M&A, Americas, #archive

PNC Financial Services Group has announced an agreement to acquire FirstBank Holding Company, the parent of Lakewood, Colorado-based FirstBank, in a transaction valued at approximately USD 4.1 billion. The deal, announced on 8 September 2025, will be funded through a combination of PNC stock and USD 1.2 billion in cash, and has been approved by the boards of both companies.

FirstBank holds USD 26.8 billion in assets and operates 95 branches across Colorado and Arizona.

#### COLORADO AND ARIZONA FOOTPRINT

PNC already operated in Colorado and Arizona. FirstBank's network more than triples PNC's Colorado branch count to 120 and lifts its Arizona footprint to more than 70 branches.

PNC said it plans to retain all of FirstBank's branches and customer-facing branch teams, with FirstBank CEO Kevin Classen becoming PNC's Colorado regional president; the branches will take the PNC Bank name once customers are converted to PNC's platform.

#### TERMS AND REGULATORY PATH

The USD 4.1 billion price tag consists of newly issued PNC common stock and USD 1.2 billion in cash. Both boards have approved the terms, and holders of about 45.7% of FirstBank shares have committed to vote in favour.

The transaction remains subject to customary regulatory clearances, including approval from federal banking regulators, and a vote by FirstBank's shareholders. PNC said it expects the transaction to close in early 2026.

PNC's previous major acquisition was the 2021 purchase of BBVA USA, which added roughly USD 100 billion in assets.