PNC completes acquisition of FirstBank; issues Series X preferred, declares $18.13 dividend

PNC FINANCIAL SERVICES GROUP, INC.

PNC completed acquisition of FirstBank Holding Co. on Jan 5, 2026, after receiving all regulatory approvals.
FirstBank Series B preferred stock automatically converted into PNC Series X preferred stock (7.250% fixed-rate reset, non-cumulative).
PNC declared a quarterly cash dividend of $18.13 per Series X preferred share; record Jan 15, 2026, payable Jan 29, 2026.
Customer conversion expected in summer 2026; FirstBank customers continue with current channels until then.
Acquisition expands PNC's presence in Colorado and Arizona, adding scale in high-growth markets.

Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

PNC FINANCIAL SERVICES GROUP, INC. issued 115,200 shares of preferred stock to former holders of 7.250% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B, par value $1,000 per share, of FirstBank.

Security: preferred stock
Shares: 115,200 shares
Purchaser: former holders of 7.250% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B, par value $1,000 per share, of FirstBank

Exact text from the filing

At the effective time of the First Step Merger, PNC issued 115,200 shares of PNC Series X Preferred Stock to former holders of 7.250% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B, par value $1,000 per share, of FirstBank

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

PNC FINANCIAL SERVICES GROUP, INC.: Established a new series of preferred stock, Series X, via a Statement filed with the Secretary of State of Pennsylvania, effective upon merger closing (effective 2026-01-05).

Change: charter amendment
Effective: 2026-01-05

Exact text from the filing

PNC filed a Statement with the Secretary of State of the Commonwealth of Pennsylvania establishing PNC Series X Preferred Stock consisting of 200,000 authorized shares.

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PNC FINANCIAL SERVICES GROUP, INC. filing history →

Source: SEC EDGAR

accession 0000713676-26-000003

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