FirstBank Holding Company, the parent company of FirstBank, has agreed to be acquired by PNC Financial Services Group in a cash and stock deal that implies a transaction value of $4.1 billion.
Headquartered in Lakewood, Colorado, FirstBank has $26.8 billion in assets and operates 95 branches that provide commercial and retail banking services across Colorado and Arizona. The acquisition will reinforce PNC’s position as a leading coast-to-coast national bank in the United States.
Upon completion of the transaction, PNC will more than triple its branch network in Colorado to 120 branches and grow PNC’s presence in Arizona to more than 70 branches.
The S&C team advising FirstBank Holding Company includes Mitch Eitel, Jared Fishman, Ashray Gautam and Cooper Siegel. Heather Coleman, Rebecca Rabinowitz and Lauren Appel are advising on executive compensation matters. David Spitzer, Gregg Rader and Jackson Mariotti are advising on tax matters. Mehdi Ansari and Grace Son are advising on intellectual property matters.