Phoenix, Arizona, November 22, 2025
Regional banks are expanding their footprint in Arizona, significantly influenced by increased merger and acquisition activity. Key developments include Enterprise Bank & Trust’s acquisition of several branches from First Interstate Bank, PNC Financial Services’ acquisition of FirstBank, and OneAZ Credit Union’s expansion into Southern Arizona. These moves promise to reshape the local banking landscape, enhancing competition and customer services. Regulatory changes by the FDIC have further encouraged consolidation in the sector, signaling a transformative period for Arizona’s banking environment.
Regional Banks Accelerate Arizona Expansion Amid Surge in Merger Activity
Phoenix, Arizona – Regional banks are significantly expanding their presence in Arizona, driven by a surge in merger and acquisition (M&A) activity. This trend is reshaping the state’s banking landscape, with several key developments in recent months.
Enterprise Bank & Trust’s Acquisition of First Interstate Bank Branches
In April 2025, Enterprise Bank & Trust announced the acquisition of twelve branches from First Interstate Bank, comprising ten locations in Arizona and two in Kansas. This move is set to enhance Enterprise’s market presence in Arizona, bringing its total to twelve full-service branches with approximately $1.3 billion in deposits. The transaction is expected to close by early fourth quarter of 2025, subject to regulatory approval and customary closing conditions.
PNC Financial Services’ $4.1 Billion Acquisition of FirstBank
In September 2025, PNC Financial Services Group, Inc. entered into a definitive agreement to acquire FirstBank Holding Company in a cash-and-stock transaction valued at approximately $4.1 billion. This acquisition aims to strengthen PNC’s presence in the high-growth markets of Colorado and Arizona. FirstBank, with $26.8 billion in assets as of June 30, 2025, operates 95 branches, including a growing presence in Arizona. The deal is expected to close in early 2026.
OneAZ Credit Union’s Expansion into Southern Arizona
In October 2024, OneAZ Credit Union expanded its footprint by acquiring 1st Bank Yuma, adding five branches in Yuma, San Luis, and Nogales to its network. This acquisition increased OneAZ’s total assets to over $4 billion, serving more than 220,000 members throughout Arizona. The move significantly bolstered OneAZ’s presence in Southern Arizona.
Regulatory Environment Facilitating Consolidation
The Federal Deposit Insurance Corporation (FDIC) has played a pivotal role in facilitating these mergers by rescinding its 2024 merger policy in May 2025 and reverting to its 1998 framework. This shift has reduced regulatory friction, encouraging smaller banks to pursue mergers and acquisitions. Additionally, the Office of the Comptroller of the Currency (OCC) has streamlined its merger review process, further supporting consolidation efforts.
Implications for Arizona’s Banking Sector
The accelerated expansion of regional banks in Arizona is expected to lead to increased competition, enhanced service offerings, and improved access to financial resources for consumers and businesses. As these institutions integrate their operations, customers may experience changes in branch locations, service protocols, and product offerings. It is advisable for clients to stay informed about these developments to make well-informed banking decisions.
About the Author
This article is based on information available up to November 22, 2025. For the most current updates, readers are encouraged to consult official press releases and financial news outlets.
Frequently Asked Questions (FAQ)
What is the significance of Enterprise Bank & Trust’s acquisition of First Interstate Bank branches in Arizona?
Enterprise Bank & Trust’s acquisition of twelve branches from First Interstate Bank, including ten in Arizona, is set to enhance its market presence in the state, bringing its total to twelve full-service branches with approximately $1.3 billion in deposits. The transaction is expected to close by early fourth quarter of 2025, subject to regulatory approval and customary closing conditions.
How does PNC Financial Services’ acquisition of FirstBank impact Arizona?
PNC Financial Services Group, Inc. entered into a definitive agreement to acquire FirstBank Holding Company in a cash-and-stock transaction valued at approximately $4.1 billion. This acquisition aims to strengthen PNC’s presence in the high-growth markets of Colorado and Arizona. FirstBank, with $26.8 billion in assets as of June 30, 2025, operates 95 branches, including a growing presence in Arizona. The deal is expected to close in early 2026.
What was the impact of OneAZ Credit Union’s acquisition of 1st Bank Yuma?
In October 2024, OneAZ Credit Union expanded its footprint by acquiring 1st Bank Yuma, adding five branches in Yuma, San Luis, and Nogales to its network. This acquisition increased OneAZ’s total assets to over $4 billion, serving more than 220,000 members throughout Arizona. The move significantly bolstered OneAZ’s presence in Southern Arizona.
How has the FDIC’s policy change affected bank mergers in Arizona?
The Federal Deposit Insurance Corporation (FDIC) played a pivotal role in facilitating these mergers by rescinding its 2024 merger policy in May 2025 and reverting to its 1998 framework. This shift reduced regulatory friction, encouraging smaller banks to pursue mergers and acquisitions. Additionally, the Office of the Comptroller of the Currency (OCC) streamlined its merger review process, further supporting consolidation efforts.
Key Features of Regional Banks’ Expansion in Arizona
| Feature | Description |
|---|---|
| Enterprise Bank & Trust’s Acquisition | Acquired twelve branches from First Interstate Bank, including ten in Arizona, enhancing its market presence with approximately $1.3 billion in deposits. |
| PNC Financial Services’ Acquisition | Entered into a $4.1 billion cash-and-stock agreement to acquire FirstBank Holding Company, aiming to strengthen presence in Colorado and Arizona. |
| OneAZ Credit Union’s Expansion | Acquired 1st Bank Yuma, adding five branches in Southern Arizona, increasing total assets to over $4 billion. |
| FDIC’s Policy Change | Rescinded 2024 merger policy in May 2025, reverting to 1998 framework, reducing regulatory friction and encouraging bank mergers. |
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Author: STAFF HERE PHOENIX WRITER
The PHOENIX STAFF WRITER represents the experienced team at HEREPhoenix.com, your go-to source for actionable local news and information in Phoenix, Maricopa County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Waste Management Phoenix Open, Cactus League Spring Training, and Arizona State Fair. Our coverage extends to key organizations like the Greater Phoenix Chamber of Commerce and Visit Phoenix, plus leading businesses in technology and healthcare that power the local economy such as Intel and Banner Health. As part of the broader HERE network, including HERETucson.com, we provide comprehensive, credible insights into Arizona's dynamic landscape.
