The PNC Financial Services Group announced it has completed its acquisition of FirstBank Holding Company and its banking subsidiary, FirstBank, after receiving all required regulatory approvals and satisfying customary closing conditions. The transaction expands PNC’s presence in Colorado and Arizona, which the bank described as high-growth markets aligned with its broader expansion strategy.
With the legal close complete, PNC said it will begin integrating FirstBank into its national platform, with customer conversions expected this summer. Until the conversion, FirstBank customers will continue to use their existing branches, websites, mobile apps, and relationship teams, and PNC said it will provide information to customers ahead of the conversion.
As part of the closing mechanics, PNC said FirstBank Holding Company’s Series B preferred stock that was outstanding immediately before the legal close automatically converted into a newly created series of PNC preferred stock designated Series X. PNC’s board declared a quarterly cash dividend on the Series X preferred stock for shareholders of record as of the close of business on Jan. 15, 2026, in the amount of $18.13 per preferred share, payable on Jan. 29, 2026.
FirstBank is headquartered in Lakewood, Colorado, and PNC said the acquisition adds meaningful scale in key growth markets. FirstBank shareholders with questions were directed to contact information agent Georgeson.
KEY QUOTES:
“Today’s legal close is more than a milestone, it’s the beginning of a partnership built on shared values and a vision for growth. By combining FirstBank’s strong local relationships with PNC’s national capabilities, we’re poised to deliver even greater opportunities for our customers and communities.”
William S. Demchak, Chairman and Chief Executive Officer, PNC
“Joining PNC marks an exciting new chapter for FirstBank, our employees and the communities we serve. We are proud of our legacy and grateful for the trust our customers have placed in us. With PNC, we gain the scale and resources to expand what we offer, while staying committed to local service and community impact. Our teams are working together to ensure a seamless transition and to deliver the same award-winning experience our customers have come to expect.”
Kevin Classen, Chief Executive Officer, FirstBank
