PNC Completes Acquisition of FirstBank

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(PNC) finalized its acquisition of FirstBank Holding Company, enhancing its footprint in high-growth markets of Colorado and Arizona. The merger involved the conversion of FirstBank's Series B preferred stock into PNC's Series X Preferred Stock. PNC announced a quarterly dividend of $18.13 per share for the new preferred stock, payable on January 29, 2026, to shareholders of record as of January 15, 2026. The acquisition is part of PNC's strategic growth plan and is expected to be completed with a customer conversion process starting this summer.

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About PNC Financial Services Group, Inc.

PNC Financial Services Group, Inc. is a diversified financial services institution that delivers comprehensive banking and financial solutions across the United States. Renowned for its broad range of services, PNC offers personal banking, mortgage and loan products, as well as wealth management and institutional banking solutions. It serves individual consumers, small businesses, and corporations, providing tailored services to meet various financial needs. PNC is distinguished by its regional community banking model, fostering strong local connections while offering the capabilities of a large financial organization. The company plays a crucial role in the financial market by facilitating capital flow and supporting economic growth through its lending and financial advisory services. As one of the largest banks in the United States, PNC continues to expand its footprint and enhance customer satisfaction through technology-driven innovations and strategic growth initiatives.