PNC Bank bought FirstBank Holding Co., and with it, an increase in branches across Arizona and Colorado. PNC will grow its presence in Arizona to more than 70 branches by adding FirstBank’s existing locations. The combination will propel Colorado to one of PNC’s top markets nationwide, more than tripling PNC’s branch network in the state to 120. PNC will become No. 1 in Denver in both retail deposit share — 20% — and branch share of 14%.
PNC opened its first retail branch in Arizona in 2021 after closing its massive of BBVA USA, which made it one of the largest banks in the nation. PNC plans to retain all of FirstBank’s branches and employees.
The Phoenix Business Journal reports PNC Bank is the eighth-largest bank in the Phoenix area, ranked by local market deposits. As of June 30, PNC Bank had $2.6 billion in local market deposits and 39 branches in operation throughout Maricopa County.
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