PNC · 10-Q · 2026Q3 · Full report

Acquisition / Partnership / Divestiture

PNC FINANCIAL SERVICES GROUP, INC. · 2026-11-03 · Importance 47 · Surprise 60

PNC acquired FirstBank Holding Company on January 5, 2026, for $4.2 billion of cash and PNC common stock consideration to common and Series A preferred shareholders, plus $0.1 billion of consideration to Series B preferred shareholders through an exchange into newly created PNC Series X preferred stock. In June 2026, PNC converted approximately 780,000 customers, more than 1,620 employees and 95 branches across Colorado and Arizona, merging FirstBank into PNC Bank. FirstBank contributed to PNC’s nine-month revenue and expense comparisons, with the filing citing acquired operations, loans, deposits and $245 million of integration expenses in the period.

Key facts

• PNC acquired FirstBank Holding Company on January 5, 2026, for $4.2 billion of consideration to its common and Series A preferred shareholders and $0.1 billion of consideration to Series B preferred shareholders. source
• In June 2026, PNC converted approximately 780,000 customers, more than 1,620 employees and 95 branches across Colorado and Arizona, merging FirstBank into PNC Bank. source
• PNC's results for the second and third quarters of 2026 include the full quarter benefit of FirstBank. source