M&A Deal Summary

PNC Acquires FirstBank

On September 8, 2025, PNC acquired financial services company FirstBank for 4.1B USD

Acquisition Highlights
  • This is PNC’s 13th transaction in the Financial Services sector.
  • This is PNC’s 4th largest (disclosed) transaction.
  • This is PNC’s 19th transaction in the United States.
  • This is PNC’s 1st transaction in Colorado.

M&A Deal Summary

Date 2025-09-08
Target FirstBank
Sector Financial Services
Buyer(s) PNC
Deal Type Add-on Acquisition
Deal Value 4.1B USD
Advisor(s) Morgan Stanley
Goldman Sachs (Financial)
Sullivan & Cromwell (Legal)

Target

FirstBank

Lakewood, Colorado, United States
FirstBank provides commercial and retail banking services across Colorado and Arizona. It operates 95 branches, with a leading position in Colorado and a substantial presence in Arizona. FirstBankis based in Lakewood, Colorado.

Search 215,058 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 1

Buyer

PNC

Pittsburgh, Pennsylvania, United States

Category Company
Founded 1852
Sector Financial Services
Employees53,686
Revenue 20.8B USD (2024)
DESCRIPTION
PNC's corporate headquarters in downtown Pittsburgh, Pennsylvania.
PNC's corporate headquarters in downtown Pittsburgh, Pennsylvania.

PNC is a diversified financial services organizations providing consumer and business banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services. PNC was formed in 1922 and is based in Pittsburgh, Pennsylvania. PNC was founded in 1852 and is based in Pittsburgh, Pennsylvania.


DEAL STATS #
Overall 19 of 19
Sector: Financial Services M&A 13 of 13
Type: Add-on Acquisition M&A Deals 16 of 16
State: Colorado M&A 1 of 1
Country: United States M&A 19 of 19
Year: 2025 M&A 2 of 2
Size (of disclosed) 4 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-05-20 Aqueduct Capital Group

New York, New York, United States

Aqueduct Capital Group is a placement agent focused on raising capital for private equity, private credit, and real asset managers through its broad access to sophisticated, global pools of capital. Aqueduct Capital Group was founded in 2003 and is based in New York, New York.

Buy -