PNC Financial Services Group PNC -1.43%decrease; red down pointing triangle has agreed to buy a Colorado-based bank in a $4.1 billion deal intended to advance its national ambitions by extending its presence in the West. Already one of the largest banks in the U.S., Pittsburgh-based PNC wants to better position itself as a coast-to-coast lender with enough scale to compete against larger rivals. The deal to buy privately held FirstBank Holding accelerates that ambition, PNC Chief Executive Bill Demchak said in an interview. The cash-and-stock deal would bring PNC closer in size to rivals such as U.S. Bancorp and Capital One Financial, with its total assets set to rise to just under $600 billion. PNC said it would retain FirstBank’s nearly 100 branches in Colorado and Arizona, with some $27 billion in assets. What is your take on PNC financial services Group acquisition ?
