DENVER — PNC Bank plans to close 18 branch locations in Colorado and Arizona following its acquisition and conversion of FirstBank, although none of the closures will involve former FirstBank branches, according to 9News.
The planned closures were disclosed in filings with the Office of the Comptroller of the Currency, 9News reported.
Alex Overstrom, PNC’s executive vice president and head of retail banking, told the Pittsburgh Business Times that the affected locations are all legacy PNC branches.
“We’re not closing a single FirstBank branch. That’s really important. We’ve been quite vocal about that,” Overstrom said.
Had Been Largest Bank With Colorado HQ
Pittsburgh-based PNC completed its $4.1 billion acquisition of FirstBank in January after receiving all required regulatory approvals. FirstBank had been the largest privately held bank headquartered in Colorado.
The latest announcement follows other changes stemming from the merger. In April, PNC said it would lay off more than 700 employees at the company’s West Colfax Building in Lakewood.
As the CU Daily reported here, in the wake of an announcement by PNC Financial Services that it planned to lay off nearly 1,000 employees following its acquisition of FirstBank, the state’s credit unions and the GoWest Credit Union Association launched a virtual job resource center and resume bank aimed at connecting displaced FirstBank employees with career opportunities across the credit union system.
Challenges for Some Customers
According to 9News, the transition has also created challenges for some customers. Last month, former FirstBank customers reported long lines at branches, extended telephone wait times and difficulties resolving account issues related to the conversion. Customers also described exhausted employees working through problems associated with the systems integration.
