PNC to acquire FirstBank for $4.1B; adds 95 branches in Colorado and Arizona

PNC FINANCIAL SERVICES GROUP, INC.

Deal valued at $4.1B: ~13.9M PNC shares + $1.2B cash; FirstBank has $26.8B assets.
FirstBank operates 95 branches in Colorado and Arizona; PNC to become #1 in Denver retail deposit share (20%).
Expected to close early 2026; shareholders holding ~45.7% of FirstBank shares support transaction.
FirstBank CEO Kevin Classen to become PNC Colorado Regional President and Mountain Territory Executive.
PNC will retain all FirstBank branches and customer-facing branch teams.

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