Tony Webster
In a joint press statement from the firms, PNC will finance the transaction through cash and stock, allowing FirstBank shareholders the choice of their payment method. Overall, PNC will provide 13.9 million of its shares and $1.2 billion for the transaction.
FirstBank offers commercial and retail banking services in Arizona and Colorado, holding assets of $26.8 billion as of June 30, 2025. FirstBank has a total of 95 locations.
“The purchase of FirstBank, which operates in rapidly expanding markets, will enhance PNC's status as one of the top banks in the United States,” the press announcement stated. PNC ranks as the eighth-largest bank in the U.S. by assets.
The directors of both financial firms have sanctioned the agreement, and the involved parties intend to finalize it in early 2026.
source: reuters.com
FirstBank offers commercial and retail banking services in Arizona and Colorado, holding assets of $26.8 billion as of June 30, 2025. FirstBank has a total of 95 locations.
“The purchase of FirstBank, which operates in rapidly expanding markets, will enhance PNC's status as one of the top banks in the United States,” the press announcement stated. PNC ranks as the eighth-largest bank in the U.S. by assets.
The directors of both financial firms have sanctioned the agreement, and the involved parties intend to finalize it in early 2026.
source: reuters.com