PNC Financial secures $4.1B FirstBank acquisition after regulatory approvals
PNC Financial Services Group has secured all necessary approvals to acquire FirstBank Holding. The deal, valued at roughly $4.1 billion, marks a major step forward for the company. Regulators have now given the green light for the transaction to proceed.
The approvals came from three key bodies: the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Colorado Division of Banking. Their decisions clear the way for PNC to finalise the purchase.
With regulatory hurdles now overcome, the $4.1 billion acquisition moves closer to completion. The deal will officially conclude in early January, pending any final administrative steps. PNC will then integrate FirstBank Holding into its operations.
