First Commonwealth Announces Second Quarter 2025 Earnings; Declares Quarterly Dividend
First Commonwealth Financial (NYSE:FCF) reported Q2 2025 financial results with GAAP net income of $33.4 million ($0.32 per share) and core net income of $39.5 million ($0.38 per share). The bank demonstrated strong performance with a net interest margin expansion to 3.83%, up 21 basis points from the previous quarter.
Key highlights include total loan growth of 8.1% annualized, deposit growth of 3.8% annualized, and an improved core efficiency ratio of 54.1%. The bank's asset quality metrics showed some pressure with nonperforming loans increasing to $99.5 million, primarily due to a commercial floorplan relationship. The Board approved a 3.7% increase in quarterly dividend and authorized an additional $25 million share repurchase program.
First Commonwealth Financial (NYSE:FCF) ha comunicato i risultati finanziari del secondo trimestre 2025 con un utile netto GAAP di 33,4 milioni di dollari (0,32 dollari per azione) e un utile netto core di 39,5 milioni di dollari (0,38 dollari per azione). La banca ha mostrato una solida performance con un margine di interesse netto aumentato al 3,83%, in crescita di 21 punti base rispetto al trimestre precedente.
I punti salienti includono una crescita annualizzata totale dei prestiti dell'8,1%, una crescita annualizzata dei depositi del 3,8% e un miglioramento del rapporto di efficienza core al 54,1%. Gli indicatori di qualit脿 degli attivi hanno mostrato qualche pressione con i prestiti non performanti saliti a 99,5 milioni di dollari, principalmente a causa di una relazione commerciale nel settore floorplan. Il Consiglio ha approvato un aumento del dividendo trimestrale del 3,7% e autorizzato un programma di riacquisto azionario aggiuntivo da 25 milioni di dollari.
First Commonwealth Financial (NYSE:FCF) report贸 resultados financieros del segundo trimestre de 2025 con un ingreso neto GAAP de 33.4 millones de d贸lares (0.32 d贸lares por acci贸n) y un ingreso neto core de 39.5 millones de d贸lares (0.38 d贸lares por acci贸n). El banco mostr贸 un desempe帽o s贸lido con una expansi贸n del margen de inter茅s neto al 3.83%, aumentando 21 puntos b谩sicos respecto al trimestre anterior.
Los aspectos destacados incluyen un crecimiento anualizado total de pr茅stamos del 8.1%, un crecimiento anualizado de dep贸sitos del 3.8% y una mejora en la relaci贸n de eficiencia core al 54.1%. Los indicadores de calidad de activos mostraron cierta presi贸n con pr茅stamos no productivos que aumentaron a 99.5 millones de d贸lares, principalmente debido a una relaci贸n comercial en floorplan. La Junta aprob贸 un aumento del dividendo trimestral del 3.7% y autoriz贸 un programa adicional de recompra de acciones por 25 millones de d贸lares.
First Commonwealth Financial (NYSE:FCF)電� 2025雲� 2攵勱赴 鞛 鞁れ爜鞚� 氚滍憸頃橂┌ GAAP 靾滌澊鞚� 3,340毵� 雼煬(欤茧嫻 0.32雼煬)鞕� 頃奠嫭 靾滌澊鞚� 3,950毵� 雼煬(欤茧嫻 0.38雼煬)毳� 旮半頄堨姷雼堧嫟. 鞚�頄夓潃 靾滌澊鞛愲歆勳澊 3.83%搿� 頇曤寑霅橃柎 鞝� 攵勱赴 雽�牍� 21 氩犾澊鞁滌姢 韽澑韸� 靸侅姽頃橂姅 臧曤牓頃� 靹标臣毳� 氤挫榾鞀惦媹雼�.
欤检殧 雮挫毄鞙茧電� 鞐办湪 旮办 齑� 雽�於� 靹膘灔毳� 8.1%, 鞐办湪 旮办 鞓堦笀 靹膘灔毳� 3.8%, 攴鸽Μ瓿� 臧滌劆霅� 頃奠嫭 須湪靹� 牍勳湪 54.1%臧� 韽暔霅╇媹雼�. 鞛愳偘 瓯挫爠靹� 歆�響滊姅 靸侅梾鞖� 頂岆鞏错攲霝� 甏�瓿勲 鞚疙暣 攵�鞁� 雽�於滌澊 9,950毵� 雼煬搿� 歃濌皜頃橂┌ 鞚茧秬 鞎曤皶鞚� 氚涭晿鞀惦媹雼�. 鞚挫偓須岆姅 攵勱赴 氚半嫻旮堨潉 3.7% 鞚胳儊頃橁碃 於旉皜搿� 2,500毵� 雼煬 攴滊鞚� 鞛愳偓欤� 毵れ瀰 頂勲攴鸽灗鞚� 鞀轨澑頄堨姷雼堧嫟.
First Commonwealth Financial (NYSE:FCF) a annonc茅 ses r茅sultats financiers du deuxi猫me trimestre 2025 avec un r茅sultat net GAAP de 33,4 millions de dollars (0,32 dollar par action) et un r茅sultat net core de 39,5 millions de dollars (0,38 dollar par action). La banque a affich茅 une solide performance avec une marge nette d'int茅r锚t en hausse 脿 3,83%, soit une augmentation de 21 points de base par rapport au trimestre pr茅c茅dent.
Les points cl茅s incluent une croissance annualis茅e totale des pr锚ts de 8,1%, une croissance annualis茅e des d茅p么ts de 3,8% et une am茅lioration du ratio d'efficacit茅 core 脿 54,1%. Les indicateurs de qualit茅 des actifs ont montr茅 une certaine pression avec une augmentation des pr锚ts non performants 脿 99,5 millions de dollars, principalement due 脿 une relation commerciale floorplan. Le conseil d'administration a approuv茅 une augmentation de 3,7% du dividende trimestriel et a autoris茅 un programme de rachat d'actions suppl茅mentaire de 25 millions de dollars.
First Commonwealth Financial (NYSE:FCF) meldete die Finanzergebnisse f眉r das zweite Quartal 2025 mit einem GAAP-Nettogewinn von 33,4 Millionen US-Dollar (0,32 US-Dollar pro Aktie) und einem Core-Nettogewinn von 39,5 Millionen US-Dollar (0,38 US-Dollar pro Aktie). Die Bank zeigte eine starke Leistung mit einer Ausweitung der Nettozinsmarge auf 3,83%, was einem Anstieg von 21 Basispunkten gegen眉ber dem Vorquartal entspricht.
Wichtige Highlights sind ein j盲hrliches Wachstum der Gesamtkredite von 8,1%, ein j盲hrliches Wachstum der Einlagen von 3,8% und eine verbesserte Kern-Effizienzquote von 54,1%. Die Kennzahlen zur Verm枚gensqualit盲t zeigten Druck, da notleidende Kredite auf 99,5 Millionen US-Dollar anstiegen, haupts盲chlich aufgrund einer gewerblichen Floorplan-Beziehung. Der Vorstand genehmigte eine 3,7%ige Erh枚hung der Quartalsdividende und autorisierte ein zus盲tzliches Aktienr眉ckkaufprogramm im Wert von 25 Millionen US-Dollar.
- Net interest margin expanded significantly to 3.83%, up 21 basis points from previous quarter
- Strong loan growth of 8.1% annualized in Q2 2025
- Core efficiency ratio improved by 501 basis points to 54.1%
- Board authorized new $25 million share repurchase program and increased dividend by 3.7%
- Core pre-tax pre-provision net revenue increased by $11.8 million from previous quarter
- Nonperforming loans increased significantly to $99.5 million from $59.4 million in previous quarter
- GAAP net income decreased by $3.7 million year-over-year
- End of period deposits decreased by $35.1 million (1.4% annualized)
- Provision for credit losses increased to $8.9 million from $5.7 million in previous quarter
Insights
FCF posted solid Q2 with expanding NIM, strong loan growth, but rising nonperforming loans from a commercial floorplan relationship.
First Commonwealth reported
The standout positive this quarter was net interest margin (NIM) expansion to
Loan growth was robust at
However, asset quality showed concerning deterioration. Nonperforming loans jumped significantly to
The efficiency ratio improved dramatically to
The Board approved both a
INDIANA, Pa., July 29, 2025 (GLOBE NEWSWIRE) -- First Commonwealth Financial Corporation (NYSE: FCF) today announced financial results for the second quarter of 2025.
Financial Summary
| (dollars in thousands, | For the Three Months Ended | 听 | For the Six Months Ended | ||||||||||||||||
| except per share data) | June 30, | 听 | March 31, | 听 | June 30, | 听 | June 30, | 听 | June 30, | ||||||||||
| 听 | 听 | 2025 | 听 | 听 | 听 | 2025 | 听 | 听 | 听 | 2024 | 听 | 听 | 听 | 2025 | 听 | 听 | 听 | 2024 | 听 |
| Reported Results | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Net income | $ | 33,402 | 听 | 听 | $ | 32,696 | 听 | 听 | $ | 37,088 | 听 | 听 | $ | 66,098 | 听 | 听 | $ | 74,637 | 听 |
| Diluted earnings per share | $ | 0.32 | 听 | 听 | $ | 0.32 | 听 | 听 | $ | 0.36 | 听 | 听 | $ | 0.64 | 听 | 听 | $ | 0.73 | 听 |
| Return on average assets | 听 | 1.11 | % | 听 | 听 | 1.14 | % | 听 | 听 | 1.28 | % | 听 | 听 | 1.12 | % | 听 | 听 | 1.29 | % |
| Return on average equity | 听 | 8.97 | % | 听 | 听 | 9.28 | % | 听 | 听 | 11.10 | % | 听 | 听 | 9.12 | % | 听 | 听 | 11.24 | % |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Operating Results (non-GAAP)(1) | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Core net income | $ | 39,496 | 听 | 听 | $ | 32,779 | 听 | 听 | $ | 37,070 | 听 | 听 | $ | 72,276 | 听 | 听 | $ | 74,709 | 听 |
| Core diluted earnings per share | $ | 0.38 | 听 | 听 | $ | 0.32 | 听 | 听 | $ | 0.36 | 听 | 听 | $ | 0.70 | 听 | 听 | $ | 0.73 | 听 |
| Core pre-tax pre-provision net revenue | $ | 58,677 | 听 | 听 | $ | 46,879 | 听 | 听 | $ | 54,381 | 听 | 听 | $ | 105,556 | 听 | 听 | $ | 105,214 | 听 |
| Provision expense | $ | 8,898 | 听 | 听 | $ | 5,736 | 听 | 听 | $ | 7,827 | 听 | 听 | $ | 14,634 | 听 | 听 | $ | 12,065 | 听 |
| Provision for credit losses - acquisition day 1 non-PCD | $ | 3,759 | 听 | 听 | $ | 鈥� | 听 | 听 | $ | 鈥� | 听 | 听 | $ | 3,759 | 听 | 听 | $ | 鈥� | 听 |
| Net charge-offs | $ | 2,758 | 听 | 听 | $ | 3,098 | 听 | 听 | $ | 4,402 | 听 | 听 | $ | 5,856 | 听 | 听 | $ | 8,704 | 听 |
| Reserve build/(release)(2) | $ | 13,035 | 听 | 听 | $ | 1,025 | 听 | 听 | $ | 4,556 | 听 | 听 | $ | 14,060 | 听 | 听 | $ | 5,936 | 听 |
| Core return on average assets (ROAA) | 听 | 1.31 | % | 听 | 听 | 1.14 | % | 听 | 听 | 1.27 | % | 听 | 听 | 1.23 | % | 听 | 听 | 1.29 | % |
| Core pre-tax pre-provision ROAA | 听 | 1.95 | % | 听 | 听 | 1.63 | % | 听 | 听 | 1.87 | % | 听 | 听 | 1.79 | % | 听 | 听 | 1.82 | % |
| Return on average tangible common equity | 听 | 12.59 | % | 听 | 听 | 13.02 | % | 听 | 听 | 15.94 | % | 听 | 听 | 12.80 | % | 听 | 听 | 16.22 | % |
| Core return on average tangible common equity | 听 | 14.82 | % | 听 | 听 | 13.05 | % | 听 | 听 | 15.93 | % | 听 | 听 | 13.96 | % | 听 | 听 | 16.24 | % |
| Core efficiency ratio | 听 | 54.06 | % | 听 | 听 | 59.08 | % | 听 | 听 | 53.63 | % | 听 | 听 | 56.44 | % | 听 | 听 | 54.33 | % |
| Net interest margin (FTE) | 听 | 3.83 | % | 听 | 听 | 3.62 | % | 听 | 听 | 3.57 | % | 听 | 听 | 3.73 | % | 听 | 听 | 3.55 | % |
(1)听听听Core operating results are a non-GAAP measure used by management to measure performance in operating the business that management believes enhances investors' ability to better understand the underlying business performance and trends related to core business activities. A full reconciliation of non-GAAP financial measures may be found at the end of the financial statements which accompany this release.
(2)听听听Reserve build/(release) represents the net change in the Company's allowance for credit losses (ACL) from the prior period.听听听听听听听听
Second Quarter 2025 Highlights
Financial results
- GAAP Net income of
$33.4 million and diluted earnings per share of$0.32 represented an increase of$0.7 million from the prior quarter and a decrease of$3.7 million , or$0.04 per share, from the second quarter of 2024- Core net income(1) of
$39.5 million and core earnings per share of$0.38 represented an increase of$6.7 million , or$0.06 per share from the prior quarter and an increase of$2.4 million or$0.02 per share, from the second quarter of 2024 - Core pre-tax pre-provision net revenue (PPNR)(1) totaled
$58.7 million , an increase of$11.8 million from the previous quarter and an increase of$4.3 million from the second quarter of 2024
- Core net income(1) of
- Net interest income (FTE) of
$106.6 million increased$10.7 million from the previous quarter and increased$11.3 million from the second quarter of 2024 - Noninterest income (excluding securities gains and losses) of
$24.7 million increased$2.3 million from the previous quarter and decreased$0.4 from the second quarter of 2024. The decrease from the prior year was due to lower card-related interchange income as a result of the full implementation of the Durbin amendment - Noninterest expense (excluding merger-related expense) of
$72.3 million increased$1.2 million from the previous quarter - Average deposits (excluding acquired balances) increased
$91.6 million , or3.8% annualized, compared to the prior quarter- End of period deposits (excluding acquired balances) decreased
$35.1 million , or1.4% annualized, compared to the prior quarter
- End of period deposits (excluding acquired balances) decreased
- Total loans (excluding acquired balances) increased
$183.7 million , or8.1% annualized, from the previous quarter - The loan-to-deposit ratio increased to
95.1% at the end of the second quarter of 2025 as compared to92.6% at the end of the previous quarter - Total shareholder鈥檚 equity increased
$70.7 million from the previous quarter due to$45.9 million in equity issued for the CenterGroup acquisition, a$19.5 million increase in retained earnings and$5.0 million improvement in accumulated other comprehensive income (AOCI).- Tangible book value per share increased
$0.19 , or7.3% annualized, from the previous quarter - AOCI as a percentage of tangible common equity was
6.8% in the second quarter of 2025 as compared to7.6% in the previous quarter
- Tangible book value per share increased
- First Commonwealth Bank (the Bank) has been recognized for the fourth consecutive year by Forbes as one of the World鈥檚 Best Banks for 2025
Profitability
- The core efficiency ratio(1) of
54.1% improved 501 basis points from the previous quarter - The return on average assets (ROA) decreased three basis points to
1.11% compared to previous quarter- The core return on average assets(1) increased 17 basis points to
1.31% compared to the previous quarter
- The core return on average assets(1) increased 17 basis points to
- Core pre-tax pre-provision ROA(1) for the quarter ended June 30, 2025 increased 32 basis points to
1.95% as compared to1.63% in the prior quarter and1.87% in the second quarter of 2024 - The net interest margin of
3.83% increased 21 basis points compared to the prior quarter and increased 26 basis points as compared to the second quarter of 2024- The acquisition of CenterBank contributed four basis points of the increase from the prior quarter due to the accretion of purchase accounting marks
- The expiration of
$150 million in macro swaps on May 1st contributed three basis points to the increase from prior quarter - Higher yields on new loan volume contributed nine basis points of the increase from prior quarter
- A five basis point improvement in the cost of funds contributed five basis points of the increase from prior quarter
- There were no material security gains during the quarter
Asset quality
- The provision for credit losses (excluding acquisition Day-1 non-PCD provision for CenterGroup) was
$8.9 million , an increase of$3.2 million compared to the previous quarter - The allowance for credit losses as a percentage of period-end loans was
1.39% , an increase of seven basis points from the previous quarter - Total criticized loans increased
$64.4 million from the previous quarter- Total nonperforming loans of
$99.5 million increased$40.1 million from the previous quarter driven by an individual commercial floorplan relationship that was transferred to nonaccrual status during the second quarter of 2025
- Total nonperforming loans of
- Net charge-offs on loans totaled
$2.8 million , a decrease of$0.3 million from the previous quarter- Net charge-offs as a percentage of average loans (annualized) was
0.12% in the second quarter of 2025 as compared to0.14% in the previous quarter
- Net charge-offs as a percentage of average loans (annualized) was
Strong capital and liquidity positions
- The Bank-level Total Capital ratio was
13.4% at June 30, 2025, which represents$338.5 million in excess capital above the regulatory 鈥渨ell capitalized鈥� requirement of10.0% - On April 28, 2025, the Board of Directors authorized a
3.7% increase in the quarterly cash dividend to shareholders - There were 32,844 shares repurchased during the second quarter of 2025. The remaining capacity under the current program was
$6.2 million as of June 30, 2025. On July 29, 2025, the Board of Directors authorized an additional$25 million share repurchase program.
鈥淲e are pleased to report a strong second quarter, marked by significant net interest margin expansion, robust loan growth, and the successful completion of the CenterBank acquisition,鈥� stated T. Michael Price, President and Chief Executive Officer. 鈥淥ur focus on organic growth and strategic acquisitions continues to position First Commonwealth for sustained success, delivering value to our shareholders and communities.鈥�
Earnings
GAAP net income for the second quarter of 2025 was
Core net income for the second quarter of 2025 was
Net Interest Income and Net Interest Margin
Net interest income (FTE) of
The net interest margin for the second quarter of 2025 was
Total average deposits (excluding acquired deposits) grew
Total average loans (excluding acquired loans) grew
Asset Quality
Provision (excluding acquisition Day-1 non-PCD provision for CenterGroup) expense in the second quarter of 2025 totaled
The allowance for credit losses as a percentage of end-of-period loans in the second quarter of 2025 was
At June 30, 2025, nonperforming loans totaled
Nonperforming loans represented
During the second quarter of 2025, net charge-offs were
Net charge-offs as a percentage of average loans (annualized) were
Noninterest Income and Noninterest Expense
Noninterest income (excluding securities gains and losses) totaled
The
There were no material security gains during the quarter.
Noninterest expense (excluding merger-related expense) of
The core efficiency ratio was
Full time equivalent staff was 1,562 at June 30, 2025, 1,538 at March 31, 2025, and 1,472 at June 30, 2024.
Dividends and Capital
First Commonwealth Financial Corporation declared a common stock quarterly dividend of
On July 29, 2025, the Board of Directors authorized an additional
First Commonwealth鈥檚 capital ratios for Total, Tier I, Leverage and Common Equity Tier I at June 30, 2025 were
Conference Call
First Commonwealth will host a quarterly conference call to discuss its financial results for the second quarter of 2025 on Wednesday, July 30, 2025 at 2:00 PM (ET). The call can be accessed by dialing (toll free) 1-888-330-3181 conference ID # 4651379 or through the Company鈥檚 web page, http://www.fcbanking.com/InvestorRelations. A replay of the call will be available approximately one hour following the conclusion of the conference by dialing 1-800-770-2030 and entering the conference ID # 4651379. A link to the webcast replay will also be accessible on the Company鈥檚 webpage for 30 days.
About First Commonwealth Financial Corporation
First Commonwealth Financial Corporation (NYSE: FCF), headquartered in Indiana, Pennsylvania, is a financial services Company with 127 community banking offices in 30 counties throughout western and central Pennsylvania and throughout Ohio, as well as commercial lending operations in Pittsburgh and Harrisburg, Pennsylvania, and Canton, Cleveland, Columbus and Cincinnati, Ohio. The Company also operates mortgage offices in Wexford, Pennsylvania, as well as Hudson and Lewis Center, Ohio. First Commonwealth provides a full range of commercial banking, consumer banking, mortgage, equipment finance, wealth management and insurance products and services through its subsidiaries First Commonwealth Bank and First Commonwealth Insurance Agency. For more information about First Commonwealth or to open an account today, please visit www.fcbanking.com.
Forward-Looking Statements
Certain statements contained in this release that are not historical facts may constitute 鈥渇orward-looking statements鈥� within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the 鈥淓xchange Act鈥�), and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, notwithstanding that such statements are not specifically identified as such. In addition, certain statements may be contained in our future filings with the Securities and Exchange Commission, in press releases, and in oral and written statements made by us or with our approval that are not statements of historical fact and constitute 鈥渇orward-looking statements鈥� as well. These statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of words such as 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渟hould,鈥� 鈥渃ould,鈥� 鈥渨ould,鈥� 鈥減lan,鈥� 鈥渂elieve,鈥� 鈥渆xpect,鈥� 鈥渁nticipate,鈥� 鈥渋ntend,鈥� 鈥渆stimate鈥� or words of similar meaning. These forward-looking statements are subject to significant risks, assumptions and uncertainties, and could be affected by many factors, including, but not limited to: (1) volatility and disruption in national and international financial markets; (2) the effects of and changes in trade and monetary and fiscal policies and laws, including the interest rate policies of the Federal Reserve Board; (3) inflation, interest rate, commodity price, securities market and monetary fluctuations; (4) the effect of changes in laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) with which First Commonwealth or its customers must comply; (5) the soundness of other financial institutions; (6) political instability; (7) impairment of First Commonwealth鈥檚 goodwill or other intangible assets; (8) acts of God or of war or terrorism; (9) the timely development and acceptance of new products and services and perceived overall value of these products and services by users; (10) changes in consumer spending, borrowings and savings habits; (11) changes in the financial performance and/or condition of First Commonwealth鈥檚 borrowers; (12) technological changes; (13) acquisitions and integration of acquired businesses; (14) First Commonwealth鈥檚 ability to attract and retain qualified employees; (15) changes in the competitive environment in First Commonwealth鈥檚 markets and among banking organizations and other financial service providers; (16) the ability to increase market share and control expenses; (17) the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board and other accounting standard setters; (18) the reliability of First Commonwealth鈥檚 vendors, internal control systems or information systems; (19) the costs and effects of legal and regulatory developments, the resolution of legal proceedings or regulatory or other governmental inquiries, the results of regulatory examinations or reviews and the ability to obtain required regulatory approvals; and (20) other risks and uncertainties described in this report and in the other reports that we file with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K.
In light of these risks, uncertainties and assumptions, you should not place undue reliance on any forward-looking statements in this release. We undertake no obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media Relations:
Ron Wahl
Communications and Media Relations
Phone: 724-463-6806
E-mail: 听
Investor Relations:
Ryan M. Thomas
Vice President / Finance and Investor Relations
Phone: 724-463-1690
E-mail: 听
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| FIRST COMMONWEALTH FINANCIAL CORPORATION | 听 | 听 | 听 | 听 | 听 | 听 | |||||||||||||
| CONSOLIDATED FINANCIAL DATA | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Unaudited | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| (dollars in thousands, except per share data) | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| 听 | For the Three Months Ended | 听 | For the Six Months Ended | ||||||||||||||||
| 听 | June 30, | 听 | March 31, | 听 | June 30, | 听 | June 30, | 听 | June 30, | ||||||||||
| 听 | 听 | 2025 | 听 | 听 | 听 | 2025 | 听 | 听 | 听 | 2024 | 听 | 听 | 听 | 2025 | 听 | 听 | 听 | 2024 | 听 |
| SUMMARY RESULTS OF OPERATIONS | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Net interest income | $ | 106,241 | 听 | 听 | $ | 95,522 | 听 | 听 | $ | 94,992 | 听 | 听 | $ | 201,763 | 听 | 听 | $ | 187,296 | 听 |
| Provision for credit losses | 听 | 8,898 | 听 | 听 | 听 | 5,736 | 听 | 听 | 听 | 7,827 | 听 | 听 | 听 | 14,634 | 听 | 听 | 听 | 12,065 | 听 |
| Provision for credit losses 鈥� acquisition day 1 non-PCD | 听 | 3,759 | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 3,759 | 听 | 听 | 听 | 鈥� | 听 |
| Noninterest income | 听 | 24,749 | 听 | 听 | 听 | 22,502 | 听 | 听 | 听 | 25,210 | 听 | 听 | 听 | 47,251 | 听 | 听 | 听 | 49,198 | 听 |
| Noninterest expense | 听 | 76,268 | 听 | 听 | 听 | 71,250 | 听 | 听 | 听 | 65,798 | 听 | 听 | 听 | 147,518 | 听 | 听 | 听 | 131,371 | 听 |
| Net income | 听 | 33,402 | 听 | 听 | 听 | 32,696 | 听 | 听 | 听 | 37,088 | 听 | 听 | 听 | 66,098 | 听 | 听 | 听 | 74,637 | 听 |
| Core net income(5) | 听 | 39,496 | 听 | 听 | 听 | 32,779 | 听 | 听 | 听 | 37,070 | 听 | 听 | 听 | 72,276 | 听 | 听 | 听 | 74,709 | 听 |
| Earnings per common share (diluted) | $ | 0.32 | 听 | 听 | $ | 0.32 | 听 | 听 | $ | 0.36 | 听 | 听 | $ | 0.64 | 听 | 听 | $ | 0.73 | 听 |
| Core earnings per common share (diluted)(6) | $ | 0.38 | 听 | 听 | $ | 0.32 | 听 | 听 | $ | 0.36 | 听 | 听 | $ | 0.70 | 听 | 听 | $ | 0.73 | 听 |
| KEY FINANCIAL RATIOS | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Return on average assets | 听 | 1.11 | % | 听 | 听 | 1.14 | % | 听 | 听 | 1.28 | % | 听 | 听 | 1.12 | % | 听 | 听 | 1.29 | % |
| Core return on average assets(7) | 听 | 1.31 | % | 听 | 听 | 1.14 | % | 听 | 听 | 1.27 | % | 听 | 听 | 1.23 | % | 听 | 听 | 1.29 | % |
| Return on average assets, pre-provision, pre-tax | 听 | 1.81 | % | 听 | 听 | 1.62 | % | 听 | 听 | 1.87 | % | 听 | 听 | 1.72 | % | 听 | 听 | 1.82 | % |
| Core return on average assets, pre-provision, pre-tax | 听 | 1.95 | % | 听 | 听 | 1.63 | % | 听 | 听 | 1.87 | % | 听 | 听 | 1.79 | % | 听 | 听 | 1.82 | % |
| Return on average shareholders' equity | 听 | 8.97 | % | 听 | 听 | 9.28 | % | 听 | 听 | 11.10 | % | 听 | 听 | 9.12 | % | 听 | 听 | 11.24 | % |
| Return on average tangible common equity(8) | 听 | 12.59 | % | 听 | 听 | 13.02 | % | 听 | 听 | 15.94 | % | 听 | 听 | 12.80 | % | 听 | 听 | 16.22 | % |
| Core return on average tangible common equity(9) | 听 | 14.82 | % | 听 | 听 | 13.05 | % | 听 | 听 | 15.93 | % | 听 | 听 | 13.96 | % | 听 | 听 | 16.24 | % |
| Core efficiency ratio(2)(10) | 听 | 54.06 | % | 听 | 听 | 59.08 | % | 听 | 听 | 53.63 | % | 听 | 听 | 56.44 | % | 听 | 听 | 54.33 | % |
| Net interest margin (FTE)(1) | 听 | 3.83 | % | 听 | 听 | 3.62 | % | 听 | 听 | 3.57 | % | 听 | 听 | 3.73 | % | 听 | 听 | 3.55 | % |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Book value per common share | $ | 14.47 | 听 | 听 | $ | 14.20 | 听 | 听 | $ | 13.32 | 听 | 听 | 听 | 听 | 听 | ||||
| Tangible book value per common share(11) | 听 | 10.63 | 听 | 听 | 听 | 10.44 | 听 | 听 | 听 | 9.56 | 听 | 听 | 听 | 听 | 听 | ||||
| Market value per common share | 听 | 16.23 | 听 | 听 | 听 | 15.54 | 听 | 听 | 听 | 13.81 | 听 | 听 | 听 | 听 | 听 | ||||
| Cash dividends declared per common share | 听 | 0.135 | 听 | 听 | 听 | 0.130 | 听 | 听 | 听 | 0.130 | 听 | 听 | 听 | 0.265 | 听 | 听 | 听 | 0.255 | 听 |
| ASSET QUALITY RATIOS | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Nonperforming loans and leases as a percent of end-of-period loans and leases(3) | 听 | 1.04 | % | 听 | 听 | 0.65 | % | 听 | 听 | 0.63 | % | 听 | 听 | 听 | 听 | ||||
| Nonperforming assets as a percent of total assets(3) | 听 | 0.83 | % | 听 | 听 | 0.52 | % | 听 | 听 | 0.51 | % | 听 | 听 | 听 | 听 | ||||
| Net charge-offs as a percent of average loans and leases (annualized)(4) | 听 | 0.12 | % | 听 | 听 | 0.14 | % | 听 | 听 | 0.20 | % | 听 | 听 | 听 | 听 | ||||
| Allowance for credit losses as a percent of nonperforming loans and leases(4) | 听 | 133.62 | % | 听 | 听 | 201.89 | % | 听 | 听 | 216.48 | % | 听 | 听 | 听 | 听 | ||||
| Allowance for credit losses as a percent of end-of-period loans and leases(4) | 听 | 1.39 | % | 听 | 听 | 1.32 | % | 听 | 听 | 1.37 | % | 听 | 听 | 听 | 听 | ||||
| CAPITAL RATIOS | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Shareholders' equity as a percent of total assets | 听 | 12.4 | % | 听 | 听 | 12.3 | % | 听 | 听 | 11.7 | % | 听 | 听 | 听 | 听 | ||||
| Tangible common equity as a percent of tangible assets(12) | 听 | 9.4 | % | 听 | 听 | 9.3 | % | 听 | 听 | 8.7 | % | 听 | 听 | 听 | 听 | ||||
| Leverage Ratio | 听 | 10.7 | % | 听 | 听 | 10.7 | % | 听 | 听 | 10.2 | % | 听 | 听 | 听 | 听 | ||||
| Risk Based Capital - Tier I | 听 | 12.7 | % | 听 | 听 | 12.9 | % | 听 | 听 | 12.5 | % | 听 | 听 | 听 | 听 | ||||
| Risk Based Capital - Total | 听 | 14.4 | % | 听 | 听 | 14.7 | % | 听 | 听 | 14.2 | % | 听 | 听 | 听 | 听 | ||||
| Common Equity - Tier I | 听 | 12.0 | % | 听 | 听 | 12.2 | % | 听 | 听 | 11.7 | % | 听 | 听 | 听 | 听 | ||||
| FIRST COMMONWEALTH FINANCIAL CORPORATION | 听 | 听 | 听 | 听 | |||||||||||
| CONSOLIDATED FINANCIAL DATA | 听 | 听 | 听 | 听 | 听 | 听 | |||||||||
| Unaudited | 听 | 听 | 听 | 听 | 听 | 听 | |||||||||
| (dollars in thousands, except per share data) | 听 | 听 | 听 | 听 | 听 | 听 | |||||||||
| 听 | For the Three Months Ended | 听 | For the Six Months Ended | ||||||||||||
| 听 | June 30, | March 31, | June 30, | 听 | June 30, | June 30, | |||||||||
| 听 | 听 | 2025 | 听 | 2025 | 听 | 听 | 2024 | 听 | 听 | 听 | 2025 | 听 | 听 | 2024 | 听 |
| INCOME STATEMENT | 听 | 听 | 听 | 听 | 听 | 听 | |||||||||
| Interest income | $ | 158,926 | $ | 147,128 | 听 | $ | 150,682 | 听 | 听 | $ | 306,054 | 听 | $ | 296,144 | 听 |
| Interest expense | 听 | 52,685 | 听 | 51,606 | 听 | 听 | 55,690 | 听 | 听 | 听 | 104,291 | 听 | 听 | 108,848 | 听 |
| Net Interest Income | 听 | 106,241 | 听 | 95,522 | 听 | 听 | 94,992 | 听 | 听 | 听 | 201,763 | 听 | 听 | 187,296 | 听 |
| Provision for credit losses | 听 | 8,898 | 听 | 5,736 | 听 | 听 | 7,827 | 听 | 听 | 听 | 14,634 | 听 | 听 | 12,065 | 听 |
| Provision for credit losses - acquisition day 1 non-PCD | 听 | 3,759 | 听 | 鈥� | 听 | 听 | 鈥� | 听 | 听 | 听 | 3,759 | 听 | 听 | 鈥� | 听 |
| Net Interest Income after Provision for Credit Losses | 听 | 93,584 | 听 | 89,786 | 听 | 听 | 87,165 | 听 | 听 | 听 | 183,370 | 听 | 听 | 175,231 | 听 |
| Net securities losses | 听 | 鈥� | 听 | (5,142 | ) | 听 | (5,535 | ) | 听 | 听 | (5,142 | ) | 听 | (5,535 | ) |
| Gain on sale of VISA | 听 | 鈥� | 听 | 5,146 | 听 | 听 | 5,558 | 听 | 听 | 听 | 5,146 | 听 | 听 | 5,558 | 听 |
| Trust income | 听 | 3,029 | 听 | 3,022 | 听 | 听 | 2,821 | 听 | 听 | 听 | 6,051 | 听 | 听 | 5,548 | 听 |
| Service charges on deposit accounts | 听 | 5,595 | 听 | 5,438 | 听 | 听 | 5,546 | 听 | 听 | 听 | 11,033 | 听 | 听 | 10,929 | 听 |
| Insurance and retail brokerage commissions | 听 | 3,097 | 听 | 3,170 | 听 | 听 | 3,154 | 听 | 听 | 听 | 6,267 | 听 | 听 | 5,805 | 听 |
| Income from bank owned life insurance | 听 | 1,938 | 听 | 1,502 | 听 | 听 | 1,371 | 听 | 听 | 听 | 3,440 | 听 | 听 | 2,665 | 听 |
| Gain on sale of mortgage loans | 听 | 1,836 | 听 | 1,387 | 听 | 听 | 1,671 | 听 | 听 | 听 | 3,223 | 听 | 听 | 2,999 | 听 |
| Gain on sale of other loans and assets | 听 | 2,217 | 听 | 1,388 | 听 | 听 | 1,408 | 听 | 听 | 听 | 3,605 | 听 | 听 | 3,459 | 听 |
| Card-related interchange income | 听 | 3,998 | 听 | 3,654 | 听 | 听 | 7,137 | 听 | 听 | 听 | 7,652 | 听 | 听 | 13,827 | 听 |
| Derivative mark-to-market | 听 | 鈥� | 听 | (153 | ) | 听 | 鈥� | 听 | 听 | 听 | (153 | ) | 听 | 12 | 听 |
| Swap fee income | 听 | 439 | 听 | 835 | 听 | 听 | 鈥� | 听 | 听 | 听 | 1,274 | 听 | 听 | 鈥� | 听 |
| Other income | 听 | 2,600 | 听 | 2,255 | 听 | 听 | 2,079 | 听 | 听 | 听 | 4,855 | 听 | 听 | 3,931 | 听 |
| Total Noninterest Income | 听 | 24,749 | 听 | 22,502 | 听 | 听 | 25,210 | 听 | 听 | 听 | 47,251 | 听 | 听 | 49,198 | 听 |
| Salaries and employee benefits | 听 | 40,584 | 听 | 40,415 | 听 | 听 | 37,320 | 听 | 听 | 听 | 80,999 | 听 | 听 | 72,644 | 听 |
| Net occupancy | 听 | 4,894 | 听 | 5,729 | 听 | 听 | 4,822 | 听 | 听 | 听 | 10,623 | 听 | 听 | 10,156 | 听 |
| Furniture and equipment | 听 | 4,547 | 听 | 4,193 | 听 | 听 | 4,278 | 听 | 听 | 听 | 8,740 | 听 | 听 | 8,758 | 听 |
| Data processing | 听 | 4,085 | 听 | 3,817 | 听 | 听 | 3,840 | 听 | 听 | 听 | 7,902 | 听 | 听 | 7,664 | 听 |
| Pennsylvania shares tax | 听 | 1,338 | 听 | 1,337 | 听 | 听 | 1,126 | 听 | 听 | 听 | 2,675 | 听 | 听 | 2,328 | 听 |
| Advertising and promotion | 听 | 1,457 | 听 | 1,372 | 听 | 听 | 898 | 听 | 听 | 听 | 2,829 | 听 | 听 | 2,217 | 听 |
| Intangible amortization | 听 | 1,311 | 听 | 1,131 | 听 | 听 | 1,169 | 听 | 听 | 听 | 2,442 | 听 | 听 | 2,433 | 听 |
| Other professional fees and services | 听 | 1,903 | 听 | 1,620 | 听 | 听 | 1,286 | 听 | 听 | 听 | 3,523 | 听 | 听 | 2,528 | 听 |
| FDIC insurance | 听 | 1,550 | 听 | 1,379 | 听 | 听 | 1,286 | 听 | 听 | 听 | 2,929 | 听 | 听 | 2,899 | 听 |
| Litigation and operational losses | 听 | 470 | 听 | 793 | 听 | 听 | 494 | 听 | 听 | 听 | 1,263 | 听 | 听 | 1,491 | 听 |
| Loss on sale or write-down of assets | 听 | 71 | 听 | 215 | 听 | 听 | 77 | 听 | 听 | 听 | 286 | 听 | 听 | 220 | 听 |
| Loss on early redemption of subordinated debt | 听 | 鈥� | 听 | 鈥� | 听 | 听 | 369 | 听 | 听 | 听 | 鈥� | 听 | 听 | 369 | 听 |
| Merger and acquisition | 听 | 3,955 | 听 | 109 | 听 | 听 | 鈥� | 听 | 听 | 听 | 4,064 | 听 | 听 | 114 | 听 |
| Other operating expenses | 听 | 10,103 | 听 | 9,140 | 听 | 听 | 8,833 | 听 | 听 | 听 | 19,243 | 听 | 听 | 17,550 | 听 |
| Total Noninterest Expense | 听 | 76,268 | 听 | 71,250 | 听 | 听 | 65,798 | 听 | 听 | 听 | 147,518 | 听 | 听 | 131,371 | 听 |
| Income before Income Taxes | 听 | 42,065 | 听 | 41,038 | 听 | 听 | 46,577 | 听 | 听 | 听 | 83,103 | 听 | 听 | 93,058 | 听 |
| Income tax provision | 听 | 8,663 | 听 | 8,342 | 听 | 听 | 9,489 | 听 | 听 | 听 | 17,005 | 听 | 听 | 18,421 | 听 |
| Net Income | $ | 33,402 | $ | 32,696 | 听 | $ | 37,088 | 听 | 听 | $ | 66,098 | 听 | $ | 74,637 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||||||
| Shares Outstanding at End of Period | 听 | 104,925,587 | 听 | 101,927,219 | 听 | 听 | 102,297,847 | 听 | 听 | 听 | 104,925,587 | 听 | 听 | 102,297,847 | 听 |
| Average Shares Outstanding Assuming Dilution | 听 | 103,928,428 | 听 | 101,859,825 | 听 | 听 | 102,287,598 | 听 | 听 | 听 | 102,886,345 | 听 | 听 | 102,238,489 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||||||
| FIRST COMMONWEALTH FINANCIAL CORPORATION | 听 | 听 | 听 | ||||||||
| CONSOLIDATED FINANCIAL DATA | 听 | 听 | 听 | 听 | 听 | ||||||
| Unaudited | 听 | 听 | 听 | 听 | 听 | ||||||
| (dollars in thousands) | 听 | 听 | 听 | 听 | 听 | ||||||
| 听 | 听 | 听 | 听 | 听 | 听 | ||||||
| 听 | June 30, | 听 | March 31, | 听 | June 30, | ||||||
| 听 | 听 | 2025 | 听 | 听 | 听 | 2025 | 听 | 听 | 听 | 2024 | 听 |
| BALANCE SHEET (Period End) | 听 | 听 | 听 | 听 | 听 | ||||||
| Assets | 听 | 听 | 听 | 听 | 听 | ||||||
| Cash and due from banks | $ | 121,052 | 听 | 听 | $ | 118,792 | 听 | 听 | $ | 109,907 | 听 |
| Interest-bearing bank deposits | 听 | 39,114 | 听 | 听 | 听 | 22,566 | 听 | 听 | 听 | 78,386 | 听 |
| Securities available for sale, at fair value | 听 | 1,153,323 | 听 | 听 | 听 | 1,186,438 | 听 | 听 | 听 | 1,101,154 | 听 |
| Securities held to maturity, at amortized cost | 听 | 498,043 | 听 | 听 | 听 | 519,029 | 听 | 听 | 听 | 453,820 | 听 |
| Loans held for sale | 听 | 42,993 | 听 | 听 | 听 | 41,587 | 听 | 听 | 听 | 50,769 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | ||||||
| Loans and leases | 听 | 9,570,815 | 听 | 听 | 听 | 9,093,140 | 听 | 听 | 听 | 8,994,890 | 听 |
| Allowance for credit losses | 听 | (132,966 | ) | 听 | 听 | (119,931 | ) | 听 | 听 | (123,654 | ) |
| Net loans and leases | 听 | 9,437,849 | 听 | 听 | 听 | 8,973,209 | 听 | 听 | 听 | 8,871,236 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | ||||||
| Goodwill and other intangibles | 听 | 402,558 | 听 | 听 | 听 | 382,514 | 听 | 听 | 听 | 384,854 | 听 |
| Other assets | 听 | 542,215 | 听 | 听 | 听 | 542,263 | 听 | 听 | 听 | 576,747 | 听 |
| Total Assets | $ | 12,237,147 | 听 | 听 | $ | 11,786,398 | 听 | 听 | $ | 11,626,873 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | ||||||
| Liabilities and Shareholders' Equity | 听 | 听 | 听 | 听 | 听 | ||||||
| Noninterest-bearing demand deposits | $ | 2,326,836 | 听 | 听 | $ | 2,273,858 | 听 | 听 | $ | 2,304,830 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | ||||||
| Interest-bearing demand deposits | 听 | 1,885,953 | 听 | 听 | 听 | 1,835,568 | 听 | 听 | 听 | 1,865,478 | 听 |
| Savings deposits | 听 | 4,132,508 | 听 | 听 | 听 | 4,029,705 | 听 | 听 | 听 | 3,710,117 | 听 |
| Time deposits | 听 | 1,759,285 | 听 | 听 | 听 | 1,722,526 | 听 | 听 | 听 | 1,528,496 | 听 |
| Total interest-bearing deposits | 听 | 7,777,746 | 听 | 听 | 听 | 7,587,799 | 听 | 听 | 听 | 7,104,091 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | ||||||
| Total deposits | 听 | 10,104,582 | 听 | 听 | 听 | 9,861,657 | 听 | 听 | 听 | 9,408,921 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | ||||||
| Short-term borrowings | 听 | 225,874 | 听 | 听 | 听 | 77,515 | 听 | 听 | 听 | 537,613 | 听 |
| Long-term borrowings | 听 | 262,369 | 听 | 听 | 听 | 262,679 | 听 | 听 | 听 | 136,581 | 听 |
| Total borrowings | 听 | 488,243 | 听 | 听 | 听 | 340,194 | 听 | 听 | 听 | 674,194 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | ||||||
| Other liabilities | 听 | 126,555 | 听 | 听 | 听 | 137,496 | 听 | 听 | 听 | 181,253 | 听 |
| Shareholders' equity | 听 | 1,517,767 | 听 | 听 | 听 | 1,447,051 | 听 | 听 | 听 | 1,362,505 | 听 |
| Total Liabilities and Shareholders' Equity | $ | 12,237,147 | 听 | 听 | $ | 11,786,398 | 听 | 听 | $ | 11,626,873 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| FIRST COMMONWEALTH FINANCIAL CORPORATION |
| CONSOLIDATED FINANCIAL DATA |
| Unaudited |
| (dollars in thousands) |
| 听 | For the Three Months Ended | 听 | For the Six Months Ended | ||||||||||||||||||
| 听 | June 30, | Yield/ | March 31, | Yield/ | June 30, | Yield/ | 听 | June 30, | Yield/ | June 30, | Yield/ | ||||||||||
| 听 | 听 | 2025 | Rate | 听 | 2025 | Rate | 听 | 2024 | Rate | 听 | 听 | 2025 | Rate | 听 | 2024 | Rate | |||||
| NET INTEREST MARGIN | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Assets | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Loans and leases (FTE)(1)(3) | $ | 9,430,284 | 6.09 | % | $ | 9,068,872 | 5.92 | % | $ | 9,017,288 | 6.06 | % | 听 | $ | 9,250,577 | 6.01 | % | $ | 9,007,969 | 6.01 | % |
| Interest bearing bank deposits | 听 | 59,614 | 4.85 | % | 听 | 76,836 | 4.72 | % | 听 | 208,360 | 5.58 | % | 听 | 听 | 68,177 | 4.78 | % | 听 | 160,398 | 5.80 | % |
| Securities (FTE)(1) | 听 | 1,666,988 | 3.67 | % | 听 | 1,600,047 | 3.58 | % | 听 | 1,510,409 | 3.23 | % | 听 | 听 | 1,633,703 | 3.63 | % | 听 | 1,491,322 | 3.14 | % |
| Total Interest-Earning Assets (FTE)(1) | 听 | 11,156,886 | 5.73 | % | 听 | 10,745,755 | 5.57 | % | 听 | 10,736,057 | 5.66 | % | 听 | 听 | 10,952,457 | 5.65 | % | 听 | 10,659,689 | 5.60 | % |
| Noninterest-earning assets | 听 | 939,441 | 听 | 听 | 934,933 | 听 | 听 | 959,103 | 听 | 听 | 听 | 937,199 | 听 | 听 | 948,612 | 听 | |||||
| Total Assets | $ | 12,096,327 | 听 | $ | 11,680,688 | 听 | $ | 11,695,160 | 听 | 听 | $ | 11,889,656 | 听 | $ | 11,608,301 | 听 | |||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Liabilities and Shareholders' Equity | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Interest-bearing demand and savings deposits | $ | 5,998,326 | 2.09 | % | $ | 5,769,898 | 2.13 | % | $ | 5,629,028 | 2.20 | % | 听 | $ | 5,884,743 | 2.11 | % | $ | 5,591,841 | 2.16 | % |
| Time deposits | 听 | 1,747,881 | 3.82 | % | 听 | 1,763,492 | 4.07 | % | 听 | 1,504,544 | 4.35 | % | 听 | 听 | 1,755,643 | 3.94 | % | 听 | 1,445,752 | 4.28 | % |
| Short-term borrowings | 听 | 146,503 | 4.12 | % | 听 | 50,725 | 2.88 | % | 听 | 545,551 | 4.67 | % | 听 | 听 | 98,879 | 3.81 | % | 听 | 570,717 | 4.62 | % |
| Long-term borrowings | 听 | 262,633 | 4.98 | % | 听 | 262,809 | 5.00 | % | 听 | 170,963 | 5.52 | % | 听 | 听 | 262,720 | 4.99 | % | 听 | 178,780 | 5.65 | % |
| Total Interest-Bearing Liabilities | 听 | 8,155,343 | 2.59 | % | 听 | 7,846,924 | 2.67 | % | 听 | 7,850,086 | 2.85 | % | 听 | 听 | 8,001,985 | 2.63 | % | 听 | 7,787,090 | 2.81 | % |
| Noninterest-bearing deposits | 听 | 2,316,854 | 听 | 听 | 2,252,794 | 听 | 听 | 2,310,274 | 听 | 听 | 听 | 2,285,001 | 听 | 听 | 2,306,306 | 听 | |||||
| Other liabilities | 听 | 131,218 | 听 | 听 | 151,957 | 听 | 听 | 190,440 | 听 | 听 | 听 | 141,531 | 听 | 听 | 180,062 | 听 | |||||
| Shareholders' equity | 听 | 1,492,912 | 听 | 听 | 1,429,013 | 听 | 听 | 1,344,360 | 听 | 听 | 听 | 1,461,139 | 听 | 听 | 1,334,843 | 听 | |||||
| Total Noninterest-Bearing Funding Sources | 听 | 3,940,984 | 听 | 听 | 3,833,764 | 听 | 听 | 3,845,074 | 听 | 听 | 听 | 3,887,671 | 听 | 听 | 3,821,211 | 听 | |||||
| Total Liabilities and Shareholders' Equity | $ | 12,096,327 | 听 | $ | 11,680,688 | 听 | $ | 11,695,160 | 听 | 听 | $ | 11,889,656 | 听 | $ | 11,608,301 | 听 | |||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Net Interest Margin (FTE) (annualized)(1) | 听 | 3.83 | % | 听 | 3.62 | % | 听 | 3.57 | % | 听 | 听 | 3.73 | % | 听 | 3.55 | % | |||||
| FIRST COMMONWEALTH FINANCIAL CORPORATION | 听 | ||||||||
| CONSOLIDATED FINANCIAL DATA | 听 | 听 | 听 | ||||||
| Unaudited | 听 | 听 | 听 | ||||||
| (dollars in thousands) | 听 | 听 | 听 | ||||||
| 听 | June 30, | March 31, | June 30, | ||||||
| 听 | 听 | 2025 | 听 | 听 | 2025 | 听 | 听 | 2024 | 听 |
| Loan and Lease Portfolio Detail | 听 | 听 | 听 | ||||||
| Commercial Loan and Lease Portfolio: | 听 | 听 | 听 | ||||||
| Commercial, financial, agricultural and other | $ | 1,381,523 | 听 | $ | 1,276,420 | 听 | $ | 1,312,816 | 听 |
| Commercial real estate | 听 | 3,366,267 | 听 | 听 | 3,158,440 | 听 | 听 | 3,077,013 | 听 |
| Equipment finance loans and leases | 听 | 573,810 | 听 | 听 | 485,782 | 听 | 听 | 316,700 | 听 |
| AG真人官方 estate construction | 听 | 424,437 | 听 | 听 | 478,833 | 听 | 听 | 523,595 | 听 |
| Total Commercial | 听 | 5,746,037 | 听 | 听 | 5,399,475 | 听 | 听 | 5,230,124 | 听 |
| 听 | 听 | 听 | 听 | ||||||
| Consumer Loan Portfolio: | 听 | 听 | 听 | ||||||
| Closed-end mortgages | 听 | 1,879,468 | 听 | 听 | 1,826,760 | 听 | 听 | 1,902,173 | 听 |
| Home equity lines of credit | 听 | 510,807 | 听 | 听 | 488,411 | 听 | 听 | 492,133 | 听 |
| AG真人官方 estate construction | 听 | 23,715 | 听 | 听 | 9,869 | 听 | 听 | 24,460 | 听 |
| Total AG真人官方 Estate - Consumer | 听 | 2,413,990 | 听 | 听 | 2,325,040 | 听 | 听 | 2,418,766 | 听 |
| 听 | 听 | 听 | 听 | ||||||
| Auto & RV loans | 听 | 1,339,660 | 听 | 听 | 1,296,567 | 听 | 听 | 1,270,044 | 听 |
| Direct installment | 听 | 24,659 | 听 | 听 | 24,962 | 听 | 听 | 26,807 | 听 |
| Personal lines of credit | 听 | 44,475 | 听 | 听 | 45,079 | 听 | 听 | 46,932 | 听 |
| Student loans | 听 | 1,994 | 听 | 听 | 2,017 | 听 | 听 | 2,217 | 听 |
| Total Other Consumer | 听 | 1,410,788 | 听 | 听 | 1,368,625 | 听 | 听 | 1,346,000 | 听 |
| Total Consumer Portfolio | 听 | 3,824,778 | 听 | 听 | 3,693,665 | 听 | 听 | 3,764,766 | 听 |
| Total Portfolio Loans and Leases | 听 | 9,570,815 | 听 | 听 | 9,093,140 | 听 | 听 | 8,994,890 | 听 |
| Loans held for sale | 听 | 42,993 | 听 | 听 | 41,587 | 听 | 听 | 50,769 | 听 |
| Total Loans and Leases | $ | 9,613,808 | 听 | $ | 9,134,727 | 听 | $ | 9,045,659 | 听 |
| 听 | 听 | 听 | 听 | ||||||
| 听 | 听 | 听 | 听 | ||||||
| 听 | June 30, | March 31, | June 30, | ||||||
| 听 | 听 | 2025 | 听 | 听 | 2025 | 听 | 听 | 2024 | 听 |
| ASSET QUALITY DETAIL | 听 | 听 | 听 | ||||||
| Nonperforming Loans and Leases: | 听 | 听 | 听 | ||||||
| Loans and leases on nonaccrual basis | $ | 83,180 | 听 | $ | 50,536 | 听 | $ | 31,443 | 听 |
| Loans on nonaccrual basis - acquisition | 听 | 16,327 | 听 | 听 | 8,869 | 听 | 听 | 25,676 | 听 |
| Total Nonperforming Loans and Leases | $ | 99,507 | 听 | $ | 59,405 | 听 | $ | 57,119 | 听 |
| Other real estate owned ("OREO") | 听 | 1,049 | 听 | 听 | 1,270 | 听 | 听 | 484 | 听 |
| Repossessions ("Repos") | 听 | 945 | 听 | 听 | 621 | 听 | 听 | 1,456 | 听 |
| Total Nonperforming Assets | $ | 101,501 | 听 | $ | 61,296 | 听 | $ | 59,059 | 听 |
| Loans past due in excess of 90 days and still accruing | 听 | 1,297 | 听 | 听 | 1,156 | 听 | 听 | 1,753 | 听 |
| Classified loans and leases | 听 | 130,020 | 听 | 听 | 88,929 | 听 | 听 | 103,111 | 听 |
| Criticized loans and leases | 听 | 254,902 | 听 | 听 | 190,510 | 听 | 听 | 241,611 | 听 |
| 听 | 听 | 听 | 听 | ||||||
| Nonperforming assets as a percentage of total loans and leases, plus OREO and Repos(4) | 听 | 1.06 | % | 听 | 0.67 | % | 听 | 0.66 | % |
| Allowance for credit losses | $ | 132,966 | 听 | $ | 119,931 | 听 | $ | 123,654 | 听 |
| 听 | |||||||||
| FIRST COMMONWEALTH FINANCIAL CORPORATION |
| CONSOLIDATED FINANCIAL DATA |
| Unaudited |
| (dollars in thousands) |
| 听 | For the Three Months Ended | 听 | For the Six Months Ended | |||||||||||||
| 听 | June 30, | March 31, | June 30, | 听 | June 30, | June 30, | ||||||||||
| 听 | 听 | 2025 | 听 | 听 | 2025 | 听 | 听 | 2024 | 听 | 听 | 听 | 2025 | 听 | 听 | 2024 | 听 |
| Net Charge-offs (Recoveries): | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Commercial, financial, agricultural and other | $ | 726 | 听 | $ | 329 | 听 | $ | 2,485 | 听 | 听 | $ | 1,055 | 听 | $ | 4,727 | 听 |
| AG真人官方 estate construction | 听 | 鈥� | 听 | 听 | 鈥� | 听 | 听 | 35 | 听 | 听 | 听 | 鈥� | 听 | 听 | 29 | 听 |
| Commercial real estate | 听 | 613 | 听 | 听 | 1,308 | 听 | 听 | 331 | 听 | 听 | 听 | 1,921 | 听 | 听 | 500 | 听 |
| Residential real estate | 听 | 72 | 听 | 听 | (29 | ) | 听 | 64 | 听 | 听 | 听 | 43 | 听 | 听 | 85 | 听 |
| Loans to individuals | 听 | 1,347 | 听 | 听 | 1,490 | 听 | 听 | 1,487 | 听 | 听 | 听 | 2,837 | 听 | 听 | 3,363 | 听 |
| Net Charge-offs | $ | 2,758 | 听 | $ | 3,098 | 听 | $ | 4,402 | 听 | 听 | $ | 5,856 | 听 | $ | 8,704 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Net charge-offs as a percentage of average loans and leases outstanding (annualized)(4) | 听 | 0.12 | % | 听 | 0.14 | % | 听 | 0.20 | % | 听 | 听 | 0.13 | % | 听 | 0.19 | % |
| Provision for credit losses as a percentage of net charge-offs | 听 | 322.63 | % | 听 | 185.15 | % | 听 | 177.81 | % | 听 | 听 | 249.90 | % | 听 | 138.61 | % |
| Provision for credit losses | $ | 8,898 | 听 | $ | 5,736 | 听 | $ | 7,827 | 听 | 听 | $ | 14,634 | 听 | $ | 12,065 | 听 |
| DEFINITIONS AND RECONCILIATION OF NON-GAAP MEASURES | 听 | 听 | 听 | ||||||||
| Note: Management believes that it is standard practice in the banking industry to present these non-GAAP measures. These measures provide useful information to management and investors by allowing them to make peer comparisons. | |||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||
| (1)Net interest income has been computed on a fully taxable equivalent basis ("FTE") using the federal income tax statutory rate of | |||||||||||
| (2)Core efficiency ratio excludes from total revenue the impact of derivative mark-to-market and excludes from "total noninterest expense" the amortization of intangibles and any other unusual items deemed by management to not be related to normal operations, such as merger, acquisition and severance costs. | |||||||||||
| (3)Includes held for sale loans. | 听 | 听 | |||||||||
| (4)Excludes held for sale loans. | 听 | 听 | |||||||||
| 听 | For the Three Months Ended | 听 | For the Six Months Ended | ||||||||
| 听 | June 30, | March 31, | June 30, | 听 | June 30, | June 30, | |||||
| 听 | 听 | 2025 | 听 | 2025 | 听 | 2024 | 听 | 听 | 2025 | 听 | 2024 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||
| Interest income | $ | 158,926 | $ | 147,128 | $ | 150,682 | 听 | $ | 306,054 | $ | 296,144 |
| Adjustment to fully taxable equivalent basis(1) | 听 | 341 | 听 | 335 | 听 | 329 | 听 | 听 | 676 | 听 | 652 |
| Interest income adjusted to fully taxable equivalent basis (non-GAAP) | 听 | 159,267 | 听 | 147,463 | 听 | 151,011 | 听 | 听 | 306,730 | 听 | 296,796 |
| Interest expense | 听 | 52,685 | 听 | 51,606 | 听 | 55,690 | 听 | 听 | 104,291 | 听 | 108,848 |
| Net interest income, (FTE)(1) | $ | 106,582 | $ | 95,857 | $ | 95,321 | 听 | $ | 202,439 | $ | 187,948 |
| FIRST COMMONWEALTH FINANCIAL CORPORATION |
| CONSOLIDATED FINANCIAL DATA |
| Unaudited |
| (dollars in thousands, except per share data) |
| DEFINITIONS AND RECONCILIATION OF NON-GAAP MEASURES | 听 | 听 | 听 | |||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| 听 | For the Three Months Ended | 听 | For the Six Months Ended | |||||||||||||
| 听 | June 30, | March 31, | June 30, | 听 | June 30, | June 30, | ||||||||||
| 听 | 听 | 2025 | 听 | 听 | 2025 | 听 | 听 | 2024 | 听 | 听 | 听 | 2025 | 听 | 听 | 2024 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Net Income | $ | 33,402 | 听 | $ | 32,696 | 听 | $ | 37,088 | 听 | 听 | $ | 66,098 | 听 | $ | 74,637 | 听 |
| Intangible amortization | 听 | 1,311 | 听 | 听 | 1,131 | 听 | 听 | 1,169 | 听 | 听 | 听 | 2,442 | 听 | 听 | 2,433 | 听 |
| Tax benefit of amortization of intangibles | 听 | (275 | ) | 听 | (238 | ) | 听 | (245 | ) | 听 | 听 | (513 | ) | 听 | (511 | ) |
| Net Income, adjusted for tax affected amortization of intangibles | $ | 34,438 | 听 | $ | 33,589 | 听 | $ | 38,012 | 听 | 听 | $ | 68,027 | 听 | $ | 76,559 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Average Tangible Equity: | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Total shareholders' equity | $ | 1,492,912 | 听 | $ | 1,429,013 | 听 | $ | 1,344,360 | 听 | 听 | $ | 1,461,139 | 听 | $ | 1,334,843 | 听 |
| Less: intangible assets | 听 | 395,772 | 听 | 听 | 382,919 | 听 | 听 | 385,332 | 听 | 听 | 听 | 389,381 | 听 | 听 | 385,686 | 听 |
| Tangible Equity | 听 | 1,097,140 | 听 | 听 | 1,046,094 | 听 | 听 | 959,028 | 听 | 听 | 听 | 1,071,758 | 听 | 听 | 949,157 | 听 |
| Less: preferred stock | 听 | 鈥� | 听 | 听 | 鈥� | 听 | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 | 听 | 鈥� | 听 |
| Tangible Common Equity | $ | 1,097,140 | 听 | $ | 1,046,094 | 听 | $ | 959,028 | 听 | 听 | $ | 1,071,758 | 听 | $ | 949,157 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| (8)Return on Average Tangible Common Equity | 听 | 12.59 | % | 听 | 13.02 | % | 听 | 15.94 | % | 听 | 听 | 12.80 | % | 听 | 16.22 | % |
| 听 | For the Three Months Ended | 听 | For the Six Months Ended | |||||||||||||
| 听 | June 30, | March 31, | June 30, | 听 | June 30, | June 30, | ||||||||||
| 听 | 听 | 2025 | 听 | 听 | 2025 | 听 | 听 | 2024 | 听 | 听 | 听 | 2025 | 听 | 听 | 2024 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Core Net Income: | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Total Net Income | $ | 33,402 | 听 | $ | 32,696 | 听 | $ | 37,088 | 听 | 听 | $ | 66,098 | 听 | $ | 74,637 | 听 |
| Net securities gains | 听 | 鈥� | 听 | 听 | (4 | ) | 听 | (23 | ) | 听 | 听 | (4 | ) | 听 | (23 | ) |
| Tax benefit of net securities gains | 听 | 鈥� | 听 | 听 | 1 | 听 | 听 | 5 | 听 | 听 | 听 | 1 | 听 | 听 | 5 | 听 |
| Merger and acquisition related expenses | 听 | 3,955 | 听 | 听 | 109 | 听 | 听 | 鈥� | 听 | 听 | 听 | 4,064 | 听 | 听 | 114 | 听 |
| Tax benefit of merger and acquisition related expenses | 听 | (831 | ) | 听 | (23 | ) | 听 | 鈥� | 听 | 听 | 听 | (853 | ) | 听 | (24 | ) |
| Provision for credit losses - acquisition day 1 non-PCD | 听 | 3,759 | 听 | 听 | 鈥� | 听 | 听 | 鈥� | 听 | 听 | 听 | 3,759 | 听 | 听 | 鈥� | 听 |
| Tax benefit of provision for credit losses - acquisition day 1 non-PCD | 听 | (789 | ) | 听 | 鈥� | 听 | 听 | 鈥� | 听 | 听 | 听 | (789 | ) | 听 | 鈥� | 听 |
| (5)Core net income | $ | 39,496 | 听 | $ | 32,779 | 听 | $ | 37,070 | 听 | 听 | $ | 72,276 | 听 | $ | 74,709 | 听 |
| Average Shares Outstanding Assuming Dilution | 听 | 103,928,428 | 听 | 听 | 101,859,825 | 听 | 听 | 102,287,598 | 听 | 听 | 听 | 102,886,345 | 听 | 听 | 102,238,489 | 听 |
| (6)Core Earnings per common share (diluted) | $ | 0.38 | 听 | $ | 0.32 | 听 | $ | 0.36 | 听 | 听 | $ | 0.70 | 听 | $ | 0.73 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Intangible amortization | 听 | 1,311 | 听 | 听 | 1,131 | 听 | 听 | 1,169 | 听 | 听 | 听 | 2,442 | 听 | 听 | 2,433 | 听 |
| Tax benefit of amortization of intangibles | 听 | (275 | ) | 听 | (238 | ) | 听 | (245 | ) | 听 | 听 | (513 | ) | 听 | (511 | ) |
| Core Net Income, adjusted for tax affected amortization of intangibles | $ | 40,532 | 听 | $ | 33,672 | 听 | $ | 37,994 | 听 | 听 | $ | 74,205 | 听 | $ | 76,631 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| (9)Core Return on Average Tangible Common Equity | 听 | 14.82 | % | 听 | 13.05 | % | 听 | 15.93 | % | 听 | 听 | 13.96 | % | 听 | 16.24 | % |
| FIRST COMMONWEALTH FINANCIAL CORPORATION |
| CONSOLIDATED FINANCIAL DATA |
| Unaudited |
| (dollars in thousands, except per share data) |
| DEFINITIONS AND RECONCILIATION OF NON-GAAP MEASURES | 听 | 听 | 听 | 听 | 听 | |||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| 听 | For the Three Months Ended | 听 | For the Six Months Ended | |||||||||||||
| 听 | June 30, | March 31, | June 30, | 听 | June 30, | June 30, | ||||||||||
| 听 | 听 | 2025 | 听 | 听 | 2025 | 听 | 听 | 2024 | 听 | 听 | 听 | 2025 | 听 | 听 | 2024 | 听 |
| Core Return on Average Assets: | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Total Net Income | $ | 33,402 | 听 | $ | 32,696 | 听 | $ | 37,088 | 听 | 听 | $ | 66,098 | 听 | $ | 74,637 | 听 |
| Total Average Assets | 听 | 12,096,327 | 听 | 听 | 11,680,688 | 听 | 听 | 11,695,160 | 听 | 听 | 听 | 11,889,656 | 听 | 听 | 11,608,301 | 听 |
| Return on Average Assets | 听 | 1.11 | % | 听 | 1.14 | % | 听 | 1.28 | % | 听 | 听 | 1.12 | % | 听 | 1.29 | % |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Core Net Income(5) | $ | 39,496 | 听 | $ | 32,779 | 听 | $ | 37,070 | 听 | 听 | $ | 72,276 | 听 | $ | 74,709 | 听 |
| Total Average Assets | 听 | 12,096,327 | 听 | 听 | 11,680,688 | 听 | 听 | 11,695,160 | 听 | 听 | 听 | 11,889,656 | 听 | 听 | 11,608,301 | 听 |
| (7)Core Return on Average Assets | 听 | 1.31 | % | 听 | 1.14 | % | 听 | 1.27 | % | 听 | 听 | 1.23 | % | 听 | 1.29 | % |
| 听 | For the Three Months Ended | 听 | For the Six Months Ended | |||||||||||||
| 听 | June 30, | March 31, | June 30, | 听 | June 30, | June 30, | ||||||||||
| 听 | 听 | 2025 | 听 | 听 | 2025 | 听 | 听 | 2024 | 听 | 听 | 听 | 2025 | 听 | 听 | 2024 | 听 |
| Core Efficiency Ratio: | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Total Noninterest Expense | $ | 76,268 | 听 | $ | 71,250 | 听 | $ | 65,798 | 听 | 听 | $ | 147,518 | 听 | $ | 131,371 | 听 |
| Adjustments to Noninterest Expense: | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Intangible amortization | 听 | 1,311 | 听 | 听 | 1,131 | 听 | 听 | 1,169 | 听 | 听 | 听 | 2,442 | 听 | 听 | 2,433 | 听 |
| Merger and acquisition related | 听 | 3,955 | 听 | 听 | 109 | 听 | 听 | 鈥� | 听 | 听 | 听 | 4,064 | 听 | 听 | 114 | 听 |
| Noninterest Expense - Core | $ | 71,002 | 听 | $ | 70,010 | 听 | $ | 64,629 | 听 | 听 | $ | 141,012 | 听 | $ | 128,824 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Net interest income, (FTE) | $ | 106,582 | 听 | $ | 95,857 | 听 | $ | 95,321 | 听 | 听 | $ | 202,439 | 听 | $ | 187,948 | 听 |
| Total noninterest income | 听 | 24,749 | 听 | 听 | 22,502 | 听 | 听 | 25,210 | 听 | 听 | 听 | 47,251 | 听 | 听 | 49,198 | 听 |
| Net securities gains | 听 | 鈥� | 听 | 听 | (4 | ) | 听 | (23 | ) | 听 | 听 | (4 | ) | 听 | (23 | ) |
| Total Revenue | 听 | 131,331 | 听 | 听 | 118,355 | 听 | 听 | 120,508 | 听 | 听 | 听 | 249,686 | 听 | 听 | 237,123 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Adjustments to Revenue: | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| Derivative mark-to-market | 听 | 鈥� | 听 | 听 | (153 | ) | 听 | 鈥� | 听 | 听 | 听 | (153 | ) | 听 | 12 | 听 |
| Total Revenue - Core | $ | 131,331 | 听 | $ | 118,508 | 听 | $ | 120,508 | 听 | 听 | $ | 249,839 | 听 | $ | 237,111 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||
| (10)Core Efficiency Ratio | 听 | 54.06 | % | 听 | 59.08 | % | 听 | 53.63 | % | 听 | 听 | 56.44 | % | 听 | 54.33 | % |
| FIRST COMMONWEALTH FINANCIAL CORPORATION |
| CONSOLIDATED FINANCIAL DATA |
| Unaudited |
| (dollars in thousands) |
| DEFINITIONS AND RECONCILIATION OF NON-GAAP MEASURES | 听 | 听 | |||||||
| 听 | 听 | 听 | 听 | ||||||
| 听 | June 30, | March 31, | June 30, | ||||||
| 听 | 听 | 2025 | 听 | 听 | 2025 | 听 | 听 | 2024 | 听 |
| Tangible Equity: | 听 | 听 | 听 | ||||||
| Total shareholders' equity | $ | 1,517,767 | 听 | $ | 1,447,051 | 听 | $ | 1,362,505 | 听 |
| Less: intangible assets | 听 | 402,558 | 听 | 听 | 382,514 | 听 | 听 | 384,854 | 听 |
| Tangible Equity | 听 | 1,115,209 | 听 | 听 | 1,064,537 | 听 | 听 | 977,651 | 听 |
| Less: preferred stock | 听 | 鈥� | 听 | 听 | 鈥� | 听 | 听 | 鈥� | 听 |
| Tangible Common Equity | $ | 1,115,209 | 听 | $ | 1,064,537 | 听 | $ | 977,651 | 听 |
| 听 | 听 | 听 | 听 | ||||||
| Tangible Assets: | 听 | 听 | 听 | ||||||
| Total assets | $ | 12,237,147 | 听 | $ | 11,786,398 | 听 | $ | 11,626,873 | 听 |
| Less: intangible assets | 听 | 402,558 | 听 | 听 | 382,514 | 听 | 听 | 384,854 | 听 |
| Tangible Assets | $ | 11,834,589 | 听 | $ | 11,403,884 | 听 | $ | 11,242,019 | 听 |
| 听 | 听 | 听 | 听 | ||||||
| (12)Tangible Common Equity as a percentage of Tangible Assets | 听 | 9.42 | % | 听 | 9.33 | % | 听 | 8.70 | % |
| 听 | 听 | 听 | 听 | ||||||
| Shares Outstanding at End of Period | 听 | 104,925,587 | 听 | 听 | 101,927,219 | 听 | 听 | 102,297,847 | 听 |
| (11)Tangible Book Value Per Common Share | $ | 10.63 | 听 | $ | 10.44 | 听 | $ | 9.56 | 听 |
| 听 | For the Three Months Ended | 听 | For the Six Months Ended | ||||||||||||
| 听 | June 30, | March 31, | June 30, | 听 | June 30, | June 30, | |||||||||
| 听 | 听 | 2025 | 听 | 2025 | 听 | 听 | 2024 | 听 | 听 | 听 | 2025 | 听 | 听 | 2024 | 听 |
| Pre-tax pre-provision net revenue: | 听 | 听 | 听 | 听 | 听 | 听 | |||||||||
| Net interest income | $ | 106,241 | $ | 95,522 | 听 | $ | 94,992 | 听 | 听 | $ | 201,763 | 听 | $ | 187,296 | 听 |
| Noninterest income | 听 | 24,749 | 听 | 22,502 | 听 | 听 | 25,210 | 听 | 听 | 听 | 47,251 | 听 | 听 | 49,198 | 听 |
| Noninterest expense | 听 | 76,268 | 听 | 71,250 | 听 | 听 | 65,798 | 听 | 听 | 听 | 147,518 | 听 | 听 | 131,371 | 听 |
| Pre-tax pre-provision net revenue | $ | 54,722 | $ | 46,774 | 听 | $ | 54,404 | 听 | 听 | $ | 101,496 | 听 | $ | 105,123 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||||||
| Net securities gains | $ | 鈥� | $ | (4 | ) | $ | (23 | ) | 听 | $ | (4 | ) | $ | (23 | ) |
| Merger and acquisition related expenses | 听 | 3,955 | 听 | 109 | 听 | 听 | 鈥� | 听 | 听 | 听 | 4,064 | 听 | 听 | 114 | 听 |
| Core pre-tax pre-provision net revenue | $ | 58,677 | $ | 46,879 | 听 | $ | 54,381 | 听 | 听 | $ | 105,556 | 听 | $ | 105,214 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||||||
| Net charge-offs | $ | 2,758 | $ | 3,098 | 听 | $ | 4,402 | 听 | 听 | $ | 5,856 | 听 | $ | 8,704 | 听 |
FAQ
What were First Commonwealth's (FCF) earnings per share in Q2 2025?
How much did First Commonwealth's (FCF) net interest margin increase in Q2 2025?
What is First Commonwealth's (FCF) new dividend amount for Q2 2025?
How much did First Commonwealth's (FCF) loan portfolio grow in Q2 2025?
What is First Commonwealth's (FCF) asset quality status in Q2 2025?
