PNC Bank Completes Acquisition of FirstBank
In a recent move, PNC Bank finalized its acquisition of FirstBank, officially completing the transition of FirstBank customers to PNC accounts on June 22. The acquisition, valued at approximately $4.1 billion, brings PNC an additional 780,000 customers, over 1,600 employees, and around 100 branches, primarily located in Colorado and Arizona. However, this shift hasn’t been entirely smooth. Residents in Summit County have expressed their frustrations on social media about various issues with the transition, including lengthy lines at the Breckenridge branch.
One former Summit County local, Steve Immer, who happened to be in Breckenridge, decided to step into the bank to assist a friend who was unable to access his PNC account online. Immer described the scene as chaotic, noting, “There was a long line that snaked through the building.”
The Breckenridge FirstBank, now rebranded to PNC, was one of two locations in Summit County. The other branch in Frisco has closed, with some contention arising over plans for a new 24-hour McDonald’s there, which the future owners have since said they don’t want.
Jessica Lewis, a Leadville resident, shared her own troubles with the transition. After opening a business account with FirstBank in 2023, she found herself unable to use her debit card for gas during a busy moment. “When it didn’t work the first time, I panicked,” she recounted. Lewis assumed the difficulties stemmed from the recent PNC acquisition, especially after her card failed again the following day. By Monday, she was still unable to access her online account, and her attempts to reset her password were met with frustration as it didn’t recognize her longtime username.
On Monday morning, Lewis expressed disbelief upon seeing others online voice similar complaints about the transition: “I really wonder why this isn’t seamless for some large companies. You’ve got to be kidding. This isn’t your first rodeo. Why are you having so many problems?” Although she hasn’t called PNC or visited a branch yet, she plans to seek help in person during a work trip to Summit County later this week.
Social media reactions have been mixed, with some former FirstBank customers echoing similar concerns about accessing their accounts post-transition. Meanwhile, a few customers noted that their experiences were seamless. A PNC spokeswoman has yet to comment on the transition challenges.
In a previous article, Nick Brinkman, PNC’s Mountain Regional Executive, mentioned that the conversion aims to enhance resources for local borrowers and increase support for commercial real estate loans and nonprofits.
