In September 2025, PNC Financial Services Group, Inc. announced its latest move to expand nationally with a USD 4.1 billion acquisition of Colorado-based FirstBank Holding Company. The deal, expected to close in early 2026, will add USD 26.8 billion in assets and 95 new branches to PNC’s network, effectively tripling its presence in Colorado.

The acquisition aligns with PNC’s broader strategy to transform from a superregional bank into a truly national player. Headquartered in Pittsburgh and holding USD 559 billion in assets, PNC has pursued a coast-to-coast expansion plan that combines both organic growth and targeted acquisitions. Over the past several years, the bank has committed USD 1.5 billion to branch openings and renovations across high-growth U.S. markets, signaling its determination to strengthen physical presence while enhancing customer reach.

FirstBank, privately held and headquartered in Lakewood, Colorado, serves about 700,000 customers across Colorado and Arizona. With a focus on commercial and retail banking, FirstBank has long been known for its community-based model, anchored by local leadership in regional markets. This approach mirrors PNC’s philosophy of combining the reach of a large institution with the personal touch of community banking. PNC emphasized that it intends to honor FirstBank’s legacy while enhancing offerings for customers by bringing in its full suite of digital, commercial, and consumer banking services.

The deal significantly enhances PNC’s footprint in the western United States. In Colorado, PNC will expand to 120 branches statewide, commanding a 20% retail deposit share and 14% branch share in Denver, making the city one of PNC’s largest hubs for both consumer and commercial banking. In Arizona, PNC will gain 13 FirstBank branches, bringing its total to nearly 70 locations statewide, further cementing its position in the fast-growing Southwest region.

This acquisition follows PNC’s USD 11.6 billion purchase of BBVA USA in 2021, a transformative deal that broadened its presence across the Sunbelt. Since then, PNC has steadily invested in physical expansion, particularly in Denver and Phoenix—two markets it had long identified as priorities. With the FirstBank deal, Colorado will become one of PNC’s top markets, while Arizona emerges as a key growth engine.

PNC’s track record in both new and acquired markets has been marked by double-digit revenue growth over the past decade, supported by investments in marketing, branch expansion, and technology. The addition of FirstBank not only adds scale but also strengthens PNC’s competitive positioning, making it the largest retail bank in Denver and expanding its national reach to nearly USD 575 billion in assets. With the FirstBank acquisition, PNC continues to accelerate its path toward becoming a leading coast-to-coast U.S. bank, combining scale, technology, and local expertise to deliver value to customers and communities alike.