Reported 1 day ago
PNC Financial Services Group has agreed to acquire Colorado-based FirstBank for $4.1 billion, significantly increasing its branch presence in Colorado and enhancing its retail deposit share in Denver. Expected to finalize in 2026, this acquisition reflects a trend of consolidation in the U.S. banking sector as regional banks like PNC seek to compete with larger rivals. CEO William Demchak emphasizes the importance of growth through strategic acquisitions to evolve PNC from a regional player to a national brand.
Source: YAHOO