FirstBank Demonstrates Robust Financial Performance While Entering Strategic Partnership with PNC

FirstBank, one of the nation’s largest independently held financial institutions with a commitment to community-focused banking, has disclosed its latest quarterly results alongside announcing a significant acquisition agreement. The transaction with PNC, a major diversified U.S. financial services provider, is expected to complete in early 2026, pending regulatory clearance and standard closing procedures.

Financial Results Reflect Strong Operational Execution

The bank’s Q3 2025 performance underscores its solid fiscal standing heading into the final quarter of the year. FirstBank reported net income of $216.4 million, representing a substantial 37 percent year-over-year expansion compared to $157.65 million during the same period in 2024. This growth reflects the bank’s disciplined financial management and operational efficiency.

At quarter-end September 30, 2025, FirstBank’s balance sheet revealed:

• Total assets reached $26.7 billion
• Deposit base grew to $23.2 billion
• Net loans stood at $16 billion

These metrics demonstrate the institution’s continued expansion and market strength despite a dynamic competitive landscape.

Strategic Partnership Positioning for Future Growth

The announced acquisition by PNC represents a transformative milestone for FirstBank. Kevin Classen, FirstBank’s Chief Executive Officer, emphasized the strategic rationale: “For decades, FirstBank has been proud to serve Colorado and Arizona with a strong community focus, deep customer relationships and dedicated commitment to our employees. In PNC, we have found a partner that not only values this legacy but is committed to building on it. Their scale, technology and breadth of financial services will allow us to offer even more to our customers, while ensuring that our employees and communities continue to thrive.”

Following the systems conversion process, Classen will transition to PNC’s Colorado Regional President and Mountain Territory Executive role, overseeing Arizona and Utah operations. PNC has provided assurances regarding continuity, committing to preserve FirstBank’s branch network, maintain existing local branch leadership, and retain all customer-facing positions across retail locations.

Community Commitment Remains Central to Mission

FirstBank continues advancing critical community initiatives despite the ongoing acquisition process. The bank remains the principal corporate partner for Colorado Gives Day, scheduled for December 9, supporting the annual charitable movement that has generated over $500 million for regional nonprofits since its 2010 launch.

Additionally, FirstBank recently hosted its annual celebration recognizing Hispanic Heritage Month, organizing the FirstBank Fiestas across Colorado and Arizona. These bilingual community events combined culturally reflective dining experiences and entertainment programming, reinforcing the institution’s dedication to inclusive local engagement.

About FirstBank

FirstBank commenced operations in 1963 and has evolved into a leading digital banking innovator and top-performing independent financial institution in the United States. The bank provides comprehensive financial solutions spanning consumer deposit products, home equity and mortgage offerings, investment property financing, and a full suite of commercial banking services including business credit facilities, commercial real estate lending, and treasury management solutions.

The institution’s philanthropic footprint is particularly distinctive—since 2000, FirstBank has distributed over $100 million to charitable causes while contributing thousands of volunteer hours. A significant portion of FirstBank’s equity ownership resides with management and employees through an Employee Stock Ownership Program, aligning workforce interests with institutional success.

FirstBank operates as an FDIC member institution and maintains industry recognition as a top corporate philanthropist. Additional information is available through the bank’s official website. For media inquiries, contact the communications team through official channels.