NEW YORK (AP) — PNC Financial said Monday that it plans to buy Colorado-based FirstBank for $4.1 billion, giving PNC a substantial presence in the Colorado banking market as well as Arizona.

Based in Lakewood, Colorado., FirstBank, which is typically branded as 1stBank, is a midsized bank that operates 120 retail branches with roughly $26 billion in assets. The bank is privately held, but the banks disclosed that the stockholders of FirstBank who collectively own 45.7% of the shares have already voted in favor of the merger.

PNC has been on an acquisition streak in the last few years to made the Pennsylvania-based bank one of the biggest players in retail banking in the country. PNC bought the U.S. operations of Spanish bank BBVA shortly after the pandemic.

The FirstBank acquisition wil

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