PNC Bank has informed federal regulators that it plans to shutter 14 branch locations in Colorado and four in Arizona, one of the last steps in completing its $4.1 billion acquisition of FirstBank.
The filings made with the Office of the Comptroller of the Currency were , five days after the Pittsburgh-based bank rebranded 95 FirstBank locations in Colorado and Arizona.
PNC Bank entered the Colorado market in June 2021 as part of its $11.6 billion acquisition of BBVA Compass. Many of the locations closing are within a mile of newly absorbed FirstBank locations.
The branch closures are expected to take place on Sept. 25, said Chandra Brin, a PNC Bank regional spokeswoman.
In the northern and western suburbs, two Arvada branches at 8008 Yarrow St. and 6450 Indiana St. are marked for closure, alongside locations at 15580 E. 104th Ave. in Commerce City and 303 S. Saulsbury St. in Lakewood’s Belmar district.
On the south side, closures are scheduled at the Park Meadows branch at 9001 Kimmer Drive in Lone Tree, two Centennial locations at 8100 E. Arapahoe Road and 20299 E. Smoky Hill Road, and one in Parker at 11239 S. Pikes Peak Drive.
Outside of Denver, PNC Bank will close a branch at 2805 Dublin Blvd. in Colorado Springs, one at 2640 E. Harmony Road in Fort Collins, and one at 3501 W. 12th St. in Greeley.
Alexander Overstrom, PNC executive vice president and head of retail banking, that employees at the closing branches will have the opportunity to work at other nearby locations.
He said that PNC Bank has about a 90% success rate in transferring employees at closing branches.
PNC Bank informed the Colorado Department of Labor and Employment in April that it would eliminate up to 777 jobs, primarily on the operations side, starting on June 30.
Last week, the bank said it was able to place more than 250 of those workers, many with technology backgrounds, in new positions within the company.
PNC Bank converted the FirstBank locations across the weekend of June 20th in what executives described as a successful rebranding
But as customers struggled to access their new accounts, activate new cards and avoid missed payments with vendors.
