Jamie Dimon's Protege Unveils $4 Billion FirstBank Deal In Bid To Build Trillion-Dollar Banking Giant - PNC Financial Services Gr (NYSE:PNC)

Jamie Dimon's Protege Unveils $4 Billion FirstBank Deal In Bid To Build Trillion-Dollar Banking Giant - PNC Financial Services Gr (NYSE:PNC)

The PNC Financial Services Group Inc. (NYSE:PNC) CEO Bill Demchak announced a $4 billion acquisition of Colorado-based FirstBank on Monday, marking a strategic push toward his ambitious goal of creating a trillion-dollar banking giant. The deal positions PNC closer to joining the elite club of too-big-to-fail banks alongside JPMorgan Chase & Co. (NYSE:JPM) and Bank of America Corp. (NYSE:BAC), according to a Wall Street Journal report. Check out…

PNC to acquire FirstBank for $4.1 billion, expanding Colorado presence

PNC's acquisition of FirstBank will make Colorado one of PNC's top markets nationwide, according to the financial institution.

PNC CEO: ‘We just effectively bought Colorado’

If PNC finds another acquisition target like FirstBank, “we’d probably do it,” CEO Bill Demchak said Tuesday, adding, “the path to growth is long and curious, and unpredictable.”

PNC CEO would be 'shocked' if a big bank went up for sale

Bill Demchak said at an industry conference that PNC effectively "bought Colorado" with its recently announced plan to acquire the $27 billion-asset FirstBank.