PNC secures regulatory approval for FirstBank acquisition

PNC Financial Services Group has secured each indispensable regulatory approvals to proceed with its acquisition of FirstBank Holding Company and its subsidiary, FirstBank.

The institution received clearances from the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Colorado Division of Banking.

PNC expects to finalise the transaction by 5 January 2026, pending the completion of modular closing requirements.

Upon closing the deal, PNC volition integrate FirstBank into its nationalist operations, including treasury management, payments, and integer banking services.

The afloat conversion of FirstBank’s lawsuit accounts is anticipated successful mid-2026.

PNC president and CEO William Demchak said: “Final regulatory support of this acquisition marks an important milestone for PNC arsenic we proceed to grow our coast-to-coast franchise and bring our afloat breadth of capabilities to much customers and communities.

“We look guardant to welcoming FirstBank's employees and clients to PNC.”

The transaction was archetypal announced successful September this year, erstwhile PNC entered into a definitive statement to get FirstBank Holding Company.

Under the agreement, the woody includes astir 13.9 cardinal shares of PNC communal banal and $1.2bn successful cash, bringing the full transaction worth to $4.1bn.

Based successful Lakewood, Colorado, FirstBank privately held slope with assets totalling $26.8bn arsenic of 30 June 2025.

The slope provides retail and commercialized banking services done 95 branches located crossed Colorado and Arizona.

This acquisition is expected to grow PNC’s scope successful the Rocky Mountain portion and Southwest, peculiarly successful Colorado and Arizona.

"PNC secures regulatory support for FirstBank acquisition " was primitively created and published by Retail Banker International, a GlobalData owned brand.

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