PNC Financial has finalized its $4.1 billion purchase of FirstBank Holding Company, including its banking subsidiary, adding more than 160 branches across Colorado and Arizona. Regulatory approvals and customary closing conditions were satisfied by January 5, 2026, enabling PNC to integrate FirstBank’s local teams and systems into its national platform. Customer conversion to PNC’s digital and branch network is slated for summer 2026, with comprehensive outreach planned to ensure a seamless transition for approximately 300,000 acquired households and businesses. FirstBank’s Series B preferred stock automatically converted into PNC’s new Series X preferred stock, with a quarterly dividend of $18.13 per share declared for payment on January 29, 2026.

PNC Bank, National Association will redeem on January 15, 2026, all outstanding senior floating-rate bank notes due January 15, 2027, totaling $500 million, as well as all 4.775 percent senior fixed-rate/floating-rate notes due the same date, totaling $1.25 billion. Each issue will be redeemed at 100 percent of face value plus accrued interest, with interest ceasing to accrue on the redemption date. Payments will be processed through the Depository Trust Company, reducing PNC’s outstanding long-term funding obligations by $1.75 billion and streamlining its balance-sheet maturity profile.

The PNC board declared a quarterly cash dividend of $1.70 per common share, payable on February 5, 2026, to shareholders of record as of January 20, 2026. In addition to the $18.13 per-share dividend on Series X preferred shares, PNC confirmed dividends on its Series A, Series G and other preferred series, underpinning a targeted payout ratio that remains below 30 percent of fourth-quarter net income. This distribution strategy supports the bank’s commitment to returning capital to investors while preserving excess capacity for further strategic investments.