Why this Colorado bank merger could transform Vail’s economy

When PNC announced its agreement to acquire FirstBank on September 8, the news sparked plenty of coffee shop conversations from Breckenridge to Vail. Folks who know FirstBank as a homegrown partner in everything from affordable housing to small business lending asked me: What happens to the community bank that’s been here for decades?

As someone who has lived and worked in the mountains for more than 20 years and seen firsthand how strong communities are built through trust, collaboration, and a deep commitment to helping our neighbors thrive, I want to be clear: this isn’t about losing what makes FirstBank special. It’s about building on it. 

Once the acquisition receives the necessary approvals, Colorado’s mountain towns won’t just have access to more products and services; they’ll have a stronger partner invested in their continued growth, from Main Street businesses to local nonprofits that keep our communities vibrant. Here’s how:

FirstBank already serves more than 9,000 business and nonprofit clients across the mountain region; relationships that will likely deepen under PNC’s expanded platform.

Locally, business and visitor capacity are both growing. Eagle County Regional Airport recorded an all-time high of 289,867 enplanements in 2024, signaling rising year-round travel and business activity. At the same time, Summit County lodging data heading into the 2025-26 ski season is pacing ahead of last year, underscoring strong retail and hospitality momentum. Vail’s Economic Development office also reports healthy event-driven foot traffic heading into winter, another encouraging sign for local commerce.

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2. Local Expertise Meets National Strength

According to American Banker, PNC ranks among the top five U.S. banks by commercial and industrial (C&I) loan volume. That expertise complements FirstBank’s local leadership, whose teams understand the nuances of mountain economies, seasonality, and community needs.

Our customers will continue to work with the same local teams they know and trust. These are people who live and work here, and who will be supported by the reach and resources of a top-tier national institution.

PNC has committed to retaining all of FirstBank’s customer-facing teams and all Market Presidents, and several of our senior leaders have agreed to executive roles at PNC post-conversion, including FirstBank CEO Kevin Classen, COO Kelly Kaminskas, Chief Banking Officer Adam Sands, and Chief Credit Officer John Markovich, to name a few. 

3. More Capital, More Possibility

With PNC’s balance sheet behind it, locally owned or headquartered businesses may be able to access larger loans and specialized services. PNC’s Corporate & Institutional division already serves two-thirds of Fortune 500 companies, proof of its lending capacity. For our community, that could mean bigger ideas backed by stronger financial resources for developers modernizing resort properties, contractors expanding into year-round service operations, or small retailers taking advantage of record visitation.

Labor markets across Eagle and Summit counties remain exceptionally tight, with unemployment hovering near long-term lows. That tightness reflects strong underlying demand for services and talent, which is an encouraging backdrop for local business investment.

4. A Boost for Commercial Real Estate Growth

PNC has committed to expanding its Commercial Real Estate (CRE) lending portfolio across Colorado, opening the door for more development and investment in key growth areas. From business owners seeking their first storefront to developers building in our mountain towns, access to capital might be more attainable.

FirstBank currently supports more than $378 million in CRE loans across Summit and Eagle County, and that portfolio is poised to expand under PNC.

5. Strengthening Our Nonprofit & Community Sector

FirstBank has long been synonymous with community giving, from Colorado Gives Day, which has raised over $500 million for local nonprofits, to countless grassroots initiatives. I’ve worked at FirstBank for over 20 years, and can personally attest that our community giving commitment is impressive. Outside of financial contributions, many of our officers serve on multiple nonprofit boards, and our Volunteer Time Off  (VTO) policy offers over 45,000 paid hours for employees to volunteer each year. But here’s the thing: PNC has committed to continuing and building on that legacy. 

• Colorado Gives Day will continue under PNC’s sponsorship.
• Nonprofit partnerships are expected to remain intact and supported.
• Education and equity investments will expand through PNC Grow Up Great®, a $500 million initiative supporting early childhood education and more than 1.2 million hours of employee volunteerism.

For our communities, this means sustained support for housing, education, and conservation, the pillars that keep this region thriving.

About Nick Brinkman:
Nick Brinkman serves as FirstBank’s Mountain Market President, overseeing operations and lending across Summit and Eagle Counties, including Vail, Breckenridge, Eagle, and Silverthorne. Following the conversion with PNC, he will remain on as a PNC Market Executive, continuing his long-standing commitment to supporting local businesses, nonprofits, and the mountain communities he calls home.