PNC has received all required regulatory approvals to complete its previously announced acquisition of FirstBank Holding Company and its banking subsidiary, FirstBank.
Approvals were granted by the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Colorado Division of Banking, clearing the final regulatory hurdle for the transaction.
The acquisition is expected to close on or around January 5, 2026, subject to customary closing conditions. Following completion, PNC plans to integrate FirstBank into its national banking platform, with full customer conversion anticipated by mid-2026. The transaction supports PNC’s long-term strategy of geographic expansion and scale across key growth markets in the US.
Strategic and financial context of the transaction
PNC is among the largest diversified financial services institutions in the US, reporting approximately USD 560 billion in assets as of 2024. The bank serves millions of consumer and business customers across retail banking, corporate and institutional banking, wealth management, and asset management. PNC operates in more than 30 states and the District of Columbia, with a strong focus on technology-enabled banking services, including digital payments, treasury management, and lending platforms.
FirstBank is one of the largest privately held banks in the US. It operates more than 100 branches across Colorado, Arizona, California, and other Western markets. Publicly available estimates place FirstBank’s total assets at over USD 30 billion, with a strong commercial and small-business lending portfolio. The acquisition increases PNC’s scale in the Rocky Mountain region and the Southwest, two areas that have experienced above-average population and business growth over the past decade.
Following closing, PNC will begin operational integration, including the rollout of its digital banking infrastructure and treasury management services to FirstBank customers. The acquisition is expected to strengthen PNC’s competitive position while expanding access to a broader range of financial products for customers in the Western United States.
