PNC Bank to Buy Colorado Based FirstBank in $4.1B Deal

PNC Financial said Monday that it plans to buy Colorado-based FirstBank for $4.1 billion, giving PNC a substantial presence in the Colorado banking market as well as Arizona.

Based in Lakewood, Colorado., FirstBank, which is also branded as 1stBank, is a midsized bank that operates 120 retail branches with $26.7 billion in assets. The bank is privately held, but the banks disclosed that the stockholders of FirstBank who collectively own 45.7% of the shares have already voted in favor of the merger.

Read more at AP News