#United States #Pittsburgh #FirstBank #PNC Financial Services #banking acquisition

PNC Financial Services Completes Its FirstBank Acquisition

On January 5, 2026, PNC Financial Services Group, Inc. (NYSE: PNC) announced the completion of its acquisition of FirstBank Holding Company, which also includes the integrated banking services provided by FirstBank itself. This significant milestone not only reflects PNC’s strategic intent for growth but also enhances its operational footprint in emerging markets across Colorado and Arizona.

William S. Demchak, the chairman and CEO of PNC, expressed that this closing represents more than just a corporate merger; it symbolizes a joint venture driven by shared values and aspirations for expansion. The partnership aims to harmonize FirstBank's robust local ties with PNC's expansive national capabilities. Such synergy is expected to further amplify the range of services and opportunities available to their customers and the surrounding communities.

As PNC embarks on integrating FirstBank into its national operations, customers will experience continued service through their existing platforms. PNC has committed to maintaining the current branch operations, digital interfaces, and customer support teams of FirstBank until the planned conversion process, which is scheduled for summer 2026. This strategy ensures a seamless transition, with advance notifications to FirstBank customers about upcoming changes.

Kevin Classen, CEO of FirstBank, emphasized the significance of joining PNC as a transformative phase for FirstBank. It not only enhances service capabilities but also magnifies their potential for local impact thanks to shared resources. Both firms are diligently working together to create a smooth transition, aiming to preserve the high-quality experience that clients have come to expect from FirstBank.

In connection with the merger, the Series B preferred stock of FirstBank will automatically convert into a new preferred stock series, designated as Series X, under PNC. The Board of PNC declared a quarterly cash dividend of $18.13 per preferred share for the Series X stock, payable to shareholders registered by January 15, 2026, with payments distributed on January 29, 2026.

For FirstBank shareholders seeking clarification, they are encouraged to reach out to Georgeson, the information agent, through a toll-free line. This acquisition not only strengthens PNC’s presence in critical growth regions but also reaffirms its dedication to building robust community ties throughout the United States.

PNC Financial Services Group, Inc. stands as a leading diversified financial institution within America, focusing on creating strong relationships with customers while providing a wide array of banking services. These services include personal and business banking, an extensive range of lending products, corporate financial solutions, and specialized asset and wealth management services. For those interested in learning more, PNC invites everyone to visit their official website at www.pnc.com.

This acquisition highlights a strategic move within the financial services landscape, merging local strength with national capability to better serve its clientele. As PNC pursues this new chapter, stakeholders will be kept informed on any developments, ensuring transparency and trust in their growing network. The potential growth and impact of this merger will likely reverberate across its service areas for years to come.