PNC Financial completes acquisition of FirstBank

PNC Financial (PNC) announced that it has completed its acquisition of FirstBank Holding Company, including its banking subsidiary, FirstBank, following receipt of all required regulatory approvals and satisfaction of customary closing conditions. “The transaction further advances PNC’s strategic growth strategy and expands the bank’s presence across high-growth communities in Colorado and Arizona… With legal close now complete, PNC will begin the process of integrating FirstBank into its national platform. Customer conversion is expected to occur this summer. Until then, FirstBank customers will continue to be served through their current branches, websites, mobile apps and relationship teams. PNC will provide comprehensive information to FirstBank customers prior to the conversion,” the company stated. “Today’s legal close is more than a milestone, it’s the beginning of a partnership built on shared values and a vision for growth. By combining FirstBank’s strong local relationships with PNC’s national capabilities, we’re poised to deliver even greater opportunities for our customers and communities,” said William Demchak, chairman and CEO of PNC.