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**PNC Bank Expands Footprint in Arizona and Colorado with FirstBank Acquisition**
PNC Bank has acquired FirstBank Holding Co., significantly expanding its branch network across Arizona and Colorado. The acquisition will increase PNC’s presence in Arizona to more than 70 branches, incorporating FirstBank’s existing locations in the state.
In Colorado, the deal positions PNC as a major player in the market, more than tripling its number of branches there to 120. As a result, Colorado will become one of PNC’s top markets nationwide. In Denver specifically, PNC will hold the No. 1 position in both retail deposit share (20%) and branch share (14%).
This strategic move builds on PNC’s previous expansion efforts, including the 2021 opening of its first retail branch in Arizona following its acquisition of BBVA USA, which positioned PNC among the nation’s largest banks.
PNC has committed to retaining all of FirstBank’s branches and employees as part of the transition.
According to the Phoenix Business Journal, PNC Bank is currently the eighth-largest bank in the Phoenix metro area based on local market deposits. As of June 30, the bank held $2.6 billion in local deposits and operated 39 branches throughout Maricopa County.
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