First Commonwealth Announces Third Quarter 2025 Earnings; Declares Quarterly Dividend
First Commonwealth (NYSE: FCF) reported Q3 2025 GAAP net income of $41.3M or $0.39 diluted EPS and core net income of $41.2M ($0.39 core EPS).
Key drivers: net interest income $111.5M, net interest margin 3.92% (up 36 bps YoY), core PPNR $62.9M, and average deposits up $102.7M. Capital remained strong with Total capital 14.4% and $348.9M excess above 10% well-capitalized threshold. The board declared a quarterly dividend of $0.135 per share payable Nov 21, 2025; share repurchases totaled 625,483 shares in Q3.
First Commonwealth (NYSE: FCF) ha riportato l’utile netto GAAP del 3Q 2025 di 41,3 milioni di dollari o 0,39 dollari per azione diluita e l’utile netto adjusted di 41,2 milioni di dollari (0,39 EPS adjusted).
I principali driver: fatturato da interessi netti di 111,5 milioni di dollari, margine di interesse netto 3,92% (in salita di 36 punti base su base annua), core PPNR di 62,9 milioni, e depositi medi in aumento di 102,7 milioni. Il capitale si è mantenuto solido con un capitale totale al 14,4% e 348,9 milioni di dollari di avanzo oltre la soglia ben capitalizzata del 10%. Il cda ha dichiarato un dividendo trimestrale di 0,135 USD per azione, pagabile il 21 novembre 2025; i riacquisti azionari hanno totalizzato 625.483 azioni nel trimestre.
First Commonwealth (NYSE: FCF) reportó beneficio GAAP del 3T 2025 de $41.3M o $0.39 por acción diluida y beneficio neto principal de $41.2M ($0.39 EPS principal).
Factores clave: ingreso neto por intereses de $111.5M, margen de interés neto 3.92% (↑ 36 pb interanual), core PPNR $62.9M, y depósitos promedios suben $102.7M. El capital siguió siendo sólido con un capital total del 14.4% y $348.9M por encima del umbral de 10% bien capitalizado. La junta declaró un dividendo trimestral de $0.135 por acción pagadero el 21 de noviembre de 2025; las recompras de acciones totalizaron 625,483 acciones en el 3T.
First Commonwealth (NYSE: FCF)가 2025년 3분기 GAAP 순이익 4130만 달러 또는 희석 EPS 0.39달러를 보고했고 핵심 순이익 4120만 달러 (핵심 EPS 0.39)도 발표했습니다.
주요 동력: 순이자수익 1억 1150만 달러, 순이자마진 3.92% (전년동기 대비 36bp 상승), 핵심 PPNR 6290만 달러, 평균 예금이 1억 2790만 달러 증가. 자본은 여전히 탄탄했고 총자본은 14.4%이며 10% 웰-캐피탈라이즈드 임계치를 초과하는 초과자본이 3억 4890만 달러였습니다. 이사회는 2025년 11월 21일 지급될 주당 배당금 0.135달러를 선언했고 3분기에 주식매입은 총 62만 5483주였습니다.
First Commonwealth (NYSE: FCF) a publié un bénéfice GAAP T3 2025 de 41,3 M$ ou 0,39 $ par action diluée et un résultat net ajusté de 41,2 M$ (0,39 $ par action ajusté).
Principaux moteurs : produit net des intérêts de 111,5 M$, marge d'intérêt nette 3,92% (en hausse de 36 pb sur un an), core PPNR 62,9 M$, et les dépôts moyens en hausse de 102,7 M$. Le capital est resté solide avec un capital total de 14,4% et un excédent de 348,9 M$ au-dessus du seuil de 10% bien capitalisé. Le conseil a déclaré un dividende trimestriel de 0,135 $ par action, payable le 21 novembre 2025; les rachats d’actions se sont élevés à 625 483 actions au T3.
First Commonwealth (NYSE: FCF) meldete den GAAP-Nettoertrag im Q3 2025 von 41,3 Mio. USD oder 0,39 USD verdünnte EPS und das Kernergebnis von 41,2 Mio. USD (0,39 Kerneps).
Wesentliche Treiber: Zinserträge in Höhe von 111,5 Mio. USD, Nettomarge 3,92% (plus 36 Basispunkte gegenüber Vorjahr), Kern-PPNR 62,9 Mio. USD und durchschnittliche Einlagen um 102,7 Mio. USD gestiegen. Das Kapital blieb stark mit einer Gesamtkapitalquote von 14,4% und einem Überschuss von 348,9 Mio. USD über der gut kapitalisierten Schwelle von 10%. Der Vorstand kündigte eine Quartalsdividende von 0,135 USD pro Aktie an, zahlbar am 21. November 2025; Aktienrückkäufe beliefen sich im Q3 auf 625.483 Aktien.
First Commonwealth (NYSE: FCF) أبلغت عن صافي الدخل وفق GAAP للربع الثالث 2025 قدره 41.3 مليون دولار أو 0.39 دولار للسهم المخفف وصافي الدخل الأساسي 41.2 مليون دولار (0.39 دولار للسهم الأساسي).
العوامل الأساسية: دخل الفوائد الصافية 111.5 مليون دولار، هامش الفائدة الصافي 3.92% (ارتفاع بمقدار 36 نقطة أساس على أساس سنوي)، core PPNR 62.9 مليون دولار، وارتفاع المتوسط للودائع بمقدار 102.7 مليون دولار. ظل رأس المال قويًا مع رأس مال إجمالي بنسبة 14.4% و328.9 مليون دولار فائض فوق عتبة 10% المؤهلة جيدًا. أعلنت المجلس عن توزيع ربع سنوي قدره 0.135 دولار للسهم، يُدفع في 21 نوفمبر 2025؛ وبلغ إجمالي إعادة شراء الأسهم 625,483 سهماً في الربع الثالث.
First Commonwealth (NYSE: FCF) 报告 2025 年第三季度 GAAP 净利润为 4130 万美元，摊薄每股收益为 0.39 美元，核心净利润为 4120 万美元（核心每股收益 0.39 美元）。
关键驱动因素：净利息收入 1.115 亿美元，净利差 3.92%（同比上升 36 个基点），核心 PPNR 6290 万美元，平均存款增加 1.027 亿美元。资本仍然强劲，总资本率为 14.4%，超出 10% well-capitalized 门槛的余额为 3.489 亿美元。董事会宣布季度股息为 0.135 美元/股，于 2025 年 11 月 21 日支付；第三季度股票回购总计 625,483 股。
- GAAP net income of $41.3M (Q3 2025)
- Core net income of $41.2M (Q3 2025)
- Net interest margin expanded to 3.92%
- Core PPNR of $62.9M
- Total capital ratio 14.4% (well capitalized)
- Declared quarterly dividend $0.135 per share
- 625,483 shares repurchased in Q3; $20.7M remaining
- Net charge-offs rose to $12.2M in Q3 2025
- Provision expense increased to $11.3M in Q3 2025
- Reserve release/(build) swing of $(3.4)M reported
Insights
Solid quarter: earnings, margins, capital and a raised dividend offset higher charge-offs and loan marks.
First Commonwealth delivered
The quarter shows clear strengths: margin expansion, improved efficiency (core efficiency ratio
Watchpoints over the next 1–4 quarters: stabilization or reversal of net charge-offs and any ACL adjustments, core PPNR trends versus expense levels, and execution of share repurchase capacity (
INDIANA, Pa., Oct. 28, 2025 (GLOBE NEWSWIRE) -- First Commonwealth Financial Corporation (NYSE: FCF) today announced financial results for the third quarter of 2025.
Financial Summary
| (dollars in thousands, | For the Three Months Ended | For the Nine Months Ended | |||||||||||||||||
| except per share data) | September 30, | June 30, | September 30, | September 30, | September 30, | ||||||||||||||
| 2025 | 2025 | 2024 | 2025 | 2024 | |||||||||||||||
| Reported Results | |||||||||||||||||||
| Net income | $ | 41,328 | $ | 33,402 | $ | 32,086 | $ | 107,426 | $ | 106,723 | |||||||||
| Diluted earnings per share | $ | 0.39 | $ | 0.32 | $ | 0.31 | $ | 1.04 | $ | 1.04 | |||||||||
| Return on average assets | 1.34 | % | 1.11 | % | 1.08 | % | 1.20 | % | 1.22 | % | |||||||||
| Return on average equity | 10.71 | % | 8.97 | % | 9.19 | % | 9.67 | % | 10.54 | % | |||||||||
| Operating Results (non-GAAP)(1) | |||||||||||||||||||
| Core net income | $ | 41,166 | $ | 39,496 | $ | 31,933 | $ | 113,442 | $ | 106,642 | |||||||||
| Core diluted earnings per share | $ | 0.39 | $ | 0.38 | $ | 0.31 | $ | 1.10 | $ | 1.04 | |||||||||
| Core pre-tax pre-provision net revenue | $ | 62,942 | $ | 58,677 | $ | 50,949 | $ | 168,498 | $ | 156,163 | |||||||||
| Provision expense | $ | 11,327 | $ | 8,898 | $ | 10,615 | $ | 25,961 | $ | 22,680 | |||||||||
| Provision for credit losses - acquisition day 1 non-PCD | $ | — | $ | 3,759 | $ | — | $ | 3,759 | $ | — | |||||||||
| Net charge-offs | $ | 12,247 | $ | 2,758 | $ | 8,785 | $ | 18,103 | $ | 17,489 | |||||||||
| Reserve build/(release)(2) | $ | (3,361 | ) | $ | 13,035 | $ | 2,458 | $ | 10,699 | $ | 8,394 | ||||||||
| Core return on average assets (ROAA) | 1.34 | % | 1.31 | % | 1.08 | % | 1.26 | % | 1.22 | % | |||||||||
| Core pre-tax pre-provision ROAA | 2.05 | % | 1.95 | % | 1.72 | % | 1.88 | % | 1.79 | % | |||||||||
| Return on average tangible common equity | 14.96 | % | 12.59 | % | 13.09 | % | 13.55 | % | 15.13 | % | |||||||||
| Core return on average tangible common equity | 14.90 | % | 14.82 | % | 13.02 | % | 14.29 | % | 15.12 | % | |||||||||
| Core efficiency ratio | 52.30 | % | 54.06 | % | 56.66 | % | 54.98 | % | 55.12 | % | |||||||||
| Net interest margin (FTE) | 3.92 | % | 3.83 | % | 3.56 | % | 3.79 | % | 3.55 | % | |||||||||
(1) 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) Reserve build/(release) represents the net change in the Company's allowance for credit losses (ACL) from the prior period.
Third Quarter 2025 Highlights
Financial results
- GAAP net income of
$41.3 million and diluted earnings per share of$0.39 represented an increase of$7.9 million from the prior quarter and an increase of$9.2 million , or$0.08 per share, from the third quarter of 2024.- Core net income of
$41.2 million and core earnings per share of$0.39 represented an increase of$1.7 million , or$0.01 per share, from the prior quarter and an increase of$9.2 million , or$0.08 per share, from the third quarter of 2024. - Core pre-tax pre-provision net revenue (PPNR)(1) totaled
$62.9 million , an increase of$4.3 million from the previous quarter and an increase of$12.0 million from the third quarter of 2024.
- Core net income of
- Net interest income (FTE) of
$111.5 million increased$4.9 million from the previous quarter and increased$14.6 million from the third quarter of 2024. - Noninterest income (excluding securities gains and losses) of
$24.5 million decreased$0.3 million from the previous quarter and was unchanged from the prior year quarter. - Noninterest expense (excluding merger-related expense) of
$72.7 million increased$0.4 million from the previous quarter and$2.6 million from the prior year quarter. - Average deposits increased
$102.7 million , or4.0% annualized, compared to the prior quarter.- End of period deposits increased
$126.8 million , or5.0% annualized, compared to the prior quarter.
- End of period deposits increased
- Total loans increased
$137.0 million , or5.7% annualized, from the previous quarter. - The loan-to-deposit ratio increased to
95.3% at the end of the third quarter of 2025 as compared to95.1% at the end of the previous quarter. - Total shareholder’s equity increased
$24.1 million from the previous quarter due to a$17.2 million increase in retained earnings (net of$10.5 million in share repurchases) and a$6.9 million improvement in accumulated other comprehensive income (AOCI).- Tangible book value per share increased
$0.31 , or11.6% annualized, from the previous quarter. - AOCI as a percentage of tangible common equity was
6.1% in the third quarter of 2025 as compared to6.8% 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’s Best Banks for 2025
Profitability
- The core efficiency ratio of
52.3% improved 176 basis points from the previous quarter. - Return on average assets (ROA) increased 23 basis points to
1.34% compared to the previous quarter.- Core return on average assets increased 3 basis points to
1.34% compared to the previous quarter.
- Core return on average assets increased 3 basis points to
- Core pre-tax pre-provision ROA for the quarter ended September 30, 2025 was
2.05% , up from1.95% in the prior quarter. - Net interest margin expanded to
3.92% , up 9 basis points from the prior quarter and 36 basis points from the third quarter of 2024.- An 8 basis point improvement in the cost of funds contributed 9 basis points of the increase to the net interest margin from prior quarter
- Purchase accounting accretion contributed 6 basis points to the net interest margin in the third quarter as compared to 10 basis points in the prior quarter.
- The expiration of
$25 million in macro swaps on August 25th contributed two basis points to the increase in the net interest margin from prior quarter
- Total security gains were
$0.4 million during the third quarter of 2025
Asset quality
- The provision for credit losses was
$11.3 million , an increase of$2.4 million compared to the previous quarter (excluding acquisition Day-1 non-PCD provision for CenterGroup) - The allowance for credit losses as a percentage of period-end loans was
1.34% , a decrease of five basis points from the previous quarter - Total criticized loans decreased
$6.7 million from the previous quarter- Total nonperforming loans of
$88.7 million decreased$10.8 million from the previous quarter, driven by a decreased balance of$15.9 million for 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
$12.2 million , an increase of$9.5 million from the previous quarter, primarily due to a$5.5 million chargeoff for the aforementioned floorplan relationship, as well as a$2.8 million chargeoff associated with the sale of five recently acquired loans from Center Group that collectively carried a$2.6 million loan mark- Net charge-offs as a percentage of average loans (annualized) was
0.51% in the third quarter of 2025 as compared to0.12% 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 September 30, 2025, which represents$348.9 million in excess capital above the regulatory “well capitalized” 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 625,483 shares repurchased during the third quarter of 2025. The remaining capacity under the currently authorized program was
$20.7 million as of September 30, 2025.
“Our third quarter results reflect continued momentum across our core banking operations,” stated T. Michael Price, President and Chief Executive Officer. “We delivered strong net interest income growth, maintained disciplined expense management, and improved asset quality metrics. These results demonstrate our commitment to building long-term value for our shareholders and supporting the financial well-being of our customers and communities.”
Earnings
GAAP net income for the third quarter of 2025 was
Core net income for the third quarter of 2025 was
Net Interest Income and Net Interest Margin
Net interest income (FTE) of
The net interest margin for the third quarter of 2025 was
Total average deposits grew
Total average loans grew
Asset Quality
Provision expense in the third quarter of 2025 totaled
The allowance for credit losses as a percentage of end-of-period loans in the third quarter of 2025 was
At September 30, 2025, nonperforming loans totaled
Nonperforming loans represented
During the third 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 quarter-over-quarter change was driven by a
Total security gains were
Noninterest expense (excluding merger-related expense) of
The core efficiency ratio was
Full time equivalent staff was 1,548 at September 30, 2025, 1,562 at June 30, 2025, and 1,500 at September 30, 2024.
Dividends and Capital
First Commonwealth Financial Corporation declared a common stock quarterly dividend of
First Commonwealth’s capital ratios for Total, Tier I, Leverage and Common Equity Tier I at September 30, 2025 were
Conference Call
First Commonwealth will host a quarterly conference call to discuss its financial results for the third quarter of 2025 on Wednesday, October 29, 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’s 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’s 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 “forward-looking statements” 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 “Exchange Act”), 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 “forward-looking statements” 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 “may,” “will,” “should,” “could,” “would,” “plan,” “believe,” “expect,” “anticipate,” “intend,” “estimate” 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’s 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’s borrowers; (12) technological changes; (13) acquisitions and integration of acquired businesses; (14) First Commonwealth’s ability to attract and retain qualified employees; (15) changes in the competitive environment in First Commonwealth’s 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’s 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: RWahl@fcbanking.com
Investor Relations:
Ryan M. Thomas
Vice President / FP&A and Investor Relations
Phone: 724-463-1690
E-mail: RThomas1@fcbanking.com
| FIRST COMMONWEALTH FINANCIAL CORPORATION | |||||||||||||||||||
| CONSOLIDATED FINANCIAL DATA | |||||||||||||||||||
| Unaudited | |||||||||||||||||||
| (dollars in thousands, except per share data) | |||||||||||||||||||
| For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||||
| September 30, | June 30, | September 30, | September 30, | September 30, | |||||||||||||||
| 2025 | 2025 | 2024 | 2025 | 2024 | |||||||||||||||
| SUMMARY RESULTS OF OPERATIONS | |||||||||||||||||||
| Net interest income | $ | 111,123 | $ | 106,241 | $ | 96,515 | $ | 312,886 | $ | 283,811 | |||||||||
| Provision for credit losses | 11,327 | 8,898 | 10,615 | 25,961 | 22,680 | ||||||||||||||
| Provision for credit losses — acquisition day 1 non-PCD | — | 3,759 | — | 3,759 | — | ||||||||||||||
| Noninterest income | 24,857 | 24,749 | 24,698 | 72,108 | 73,896 | ||||||||||||||
| Noninterest expense | 72,834 | 76,268 | 70,070 | 220,352 | 201,441 | ||||||||||||||
| Net income | 41,328 | 33,402 | 32,086 | 107,426 | 106,723 | ||||||||||||||
| Core net income(5) | 41,166 | 39,496 | 31,933 | 113,442 | 106,642 | ||||||||||||||
| Earnings per common share (diluted) | $ | 0.39 | $ | 0.32 | $ | 0.31 | $ | 1.04 | $ | 1.04 | |||||||||
| Core earnings per common share (diluted)(6) | $ | 0.39 | $ | 0.38 | $ | 0.31 | $ | 1.10 | $ | 1.04 | |||||||||
| KEY FINANCIAL RATIOS | |||||||||||||||||||
| Return on average assets | 1.34 | % | 1.11 | % | 1.08 | % | 1.20 | % | 1.22 | % | |||||||||
| Core return on average assets(7) | 1.34 | % | 1.31 | % | 1.08 | % | 1.26 | % | 1.22 | % | |||||||||
| Return on average assets, pre-provision, pre-tax | 2.05 | % | 1.81 | % | 1.73 | % | 1.83 | % | 1.79 | % | |||||||||
| Core return on average assets, pre-provision, pre-tax | 2.05 | % | 1.95 | % | 1.72 | % | 1.88 | % | 1.79 | % | |||||||||
| Return on average shareholders' equity | 10.71 | % | 8.97 | % | 9.19 | % | 9.67 | % | 10.54 | % | |||||||||
| Return on average tangible common equity(8) | 14.96 | % | 12.59 | % | 13.09 | % | 13.55 | % | 15.13 | % | |||||||||
| Core return on average tangible common equity(9) | 14.90 | % | 14.82 | % | 13.02 | % | 14.29 | % | 15.12 | % | |||||||||
| Core efficiency ratio(2)(10) | 52.30 | % | 54.06 | % | 56.66 | % | 54.98 | % | 55.12 | % | |||||||||
| Net interest margin (FTE)(1) | 3.92 | % | 3.83 | % | 3.56 | % | 3.79 | % | 3.55 | % | |||||||||
| Book value per common share | $ | 14.78 | $ | 14.47 | $ | 13.79 | |||||||||||||
| Tangible book value per common share(11) | 10.94 | 10.63 | 10.03 | ||||||||||||||||
| Market value per common share | 17.05 | 16.23 | 17.15 | ||||||||||||||||
| Cash dividends declared per common share | 0.135 | 0.135 | 0.130 | 0.400 | 0.385 | ||||||||||||||
| ASSET QUALITY RATIOS | |||||||||||||||||||
| Nonperforming loans and leases as a percent of end-of-period loans and leases(3) | 0.91 | % | 1.04 | % | 0.83 | % | |||||||||||||
| Nonperforming assets as a percent of total assets(3) | 0.74 | % | 0.83 | % | 0.64 | % | |||||||||||||
| Net charge-offs as a percent of average loans and leases (annualized)(4) | 0.51 | % | 0.12 | % | 0.39 | % | |||||||||||||
| Allowance for credit losses as a percent of nonperforming loans and leases(4) | 148.04 | % | 133.62 | % | 168.77 | % | |||||||||||||
| Allowance for credit losses as a percent of end-of-period loans and leases(4) | 1.34 | % | 1.39 | % | 1.41 | % | |||||||||||||
| CAPITAL RATIOS | |||||||||||||||||||
| Shareholders' equity as a percent of total assets | 12.5 | % | 12.4 | % | 11.8 | % | |||||||||||||
| Tangible common equity as a percent of tangible assets(12) | 9.6 | % | 9.4 | % | 8.8 | % | |||||||||||||
| Leverage Ratio | 10.8 | % | 10.7 | % | 10.3 | % | |||||||||||||
| Risk Based Capital - Tier I | 12.7 | % | 12.7 | % | 12.7 | % | |||||||||||||
| Risk Based Capital - Total | 14.4 | % | 14.4 | % | 14.5 | % | |||||||||||||
| Common Equity - Tier I | 12.0 | % | 12.0 | % | 12.0 | % | |||||||||||||
| FIRST COMMONWEALTH FINANCIAL CORPORATION | ||||||||||||||
| CONSOLIDATED FINANCIAL DATA | ||||||||||||||
| Unaudited | ||||||||||||||
| (dollars in thousands, except per share data) | ||||||||||||||
| For the Three Months Ended | For the Nine Months Ended | |||||||||||||
| September 30, | June 30, | September 30, | September 30, | September 30, | ||||||||||
| 2025 | 2025 | 2024 | 2025 | 2024 | ||||||||||
| INCOME STATEMENT | ||||||||||||||
| Interest income | $ | 162,709 | $ | 158,926 | $ | 154,323 | $ | 468,763 | $ | 450,467 | ||||
| Interest expense | 51,586 | 52,685 | 57,808 | 155,877 | 166,656 | |||||||||
| Net Interest Income | 111,123 | 106,241 | 96,515 | 312,886 | 283,811 | |||||||||
| Provision for credit losses | 11,327 | 8,898 | 10,615 | 25,961 | 22,680 | |||||||||
| Provision for credit losses - acquisition day 1 non-PCD | — | 3,759 | — | 3,759 | — | |||||||||
| Net Interest Income after Provision for Credit Losses | 99,796 | 93,584 | 85,900 | 283,166 | 261,131 | |||||||||
| Net securities gains (losses) | 369 | — | 88 | (4,773 | ) | (5,447 | ) | |||||||
| Gain on sale of VISA | — | — | 106 | 5,146 | 5,664 | |||||||||
| Trust income | 3,477 | 3,029 | 3,242 | 9,528 | 8,790 | |||||||||
| Service charges on deposit accounts | 5,913 | 5,595 | 5,840 | 16,946 | 16,769 | |||||||||
| Insurance and retail brokerage commissions | 3,499 | 3,097 | 3,087 | 9,766 | 8,892 | |||||||||
| Income from bank owned life insurance | 1,712 | 1,938 | 2,278 | 5,152 | 4,943 | |||||||||
| Gain on sale of mortgage loans | 2,132 | 1,836 | 1,151 | 5,355 | 4,150 | |||||||||
| Gain on sale of other loans and assets | 1,085 | 2,217 | 2,576 | 4,690 | 6,035 | |||||||||
| Card-related interchange income | 3,985 | 3,998 | 4,137 | 11,637 | 17,964 | |||||||||
| Derivative mark-to-market | 2 | — | (153 | ) | (151 | ) | (141 | ) | ||||||
| Swap fee income | 243 | 439 | 88 | 1,517 | 88 | |||||||||
| Other income | 2,440 | 2,600 | 2,258 | 7,295 | 6,189 | |||||||||
| Total Noninterest Income | 24,857 | 24,749 | 24,698 | 72,108 | 73,896 | |||||||||
| Salaries and employee benefits | 40,717 | 40,584 | 38,618 | 121,716 | 111,262 | |||||||||
| Net occupancy | 5,110 | 4,894 | 4,858 | 15,733 | 15,014 | |||||||||
| Furniture and equipment | 4,427 | 4,547 | 4,335 | 13,167 | 13,093 | |||||||||
| Data processing | 4,260 | 4,085 | 3,879 | 12,162 | 11,543 | |||||||||
| Pennsylvania shares tax | 1,337 | 1,338 | 1,126 | 4,012 | 3,454 | |||||||||
| Advertising and promotion | 1,931 | 1,457 | 1,960 | 4,760 | 4,177 | |||||||||
| Intangible amortization | 1,567 | 1,311 | 1,223 | 4,009 | 3,656 | |||||||||
| Other professional fees and services | 1,843 | 1,903 | 1,448 | 5,366 | 3,976 | |||||||||
| FDIC insurance | 1,653 | 1,550 | 1,638 | 4,582 | 4,537 | |||||||||
| Litigation and operational losses | 582 | 470 | 2,181 | 1,845 | 3,672 | |||||||||
| Loss on sale or write-down of assets | 87 | 71 | 132 | 373 | 352 | |||||||||
| Loss on early redemption of subordinated debt | — | — | — | — | 369 | |||||||||
| Merger and acquisition | 165 | 3,955 | — | 4,229 | 114 | |||||||||
| Other operating expenses | 9,155 | 10,103 | 8,672 | 28,398 | 26,222 | |||||||||
| Total Noninterest Expense | 72,834 | 76,268 | 70,070 | 220,352 | 201,441 | |||||||||
| Income before Income Taxes | 51,819 | 42,065 | 40,528 | 134,922 | 133,586 | |||||||||
| Income tax provision | 10,491 | 8,663 | 8,442 | 27,496 | 26,863 | |||||||||
| Net Income | $ | 41,328 | $ | 33,402 | $ | 32,086 | $ | 107,426 | $ | 106,723 | ||||
| Shares Outstanding at End of Period | 104,293,298 | 104,925,587 | 102,237,941 | 104,293,298 | 102,237,941 | |||||||||
| Average Shares Outstanding Assuming Dilution | 104,754,917 | 103,928,428 | 102,418,964 | 103,509,902 | 102,293,213 | |||||||||
| FIRST COMMONWEALTH FINANCIAL CORPORATION | |||||||||||
| CONSOLIDATED FINANCIAL DATA | |||||||||||
| Unaudited | |||||||||||
| (dollars in thousands) | |||||||||||
| September 30, | June 30, | September 30, | |||||||||
| 2025 | 2025 | 2024 | |||||||||
| BALANCE SHEET (Period End) | |||||||||||
| Assets | |||||||||||
| Cash and due from banks | $ | 117,241 | $ | 121,052 | $ | 126,598 | |||||
| Interest-bearing bank deposits | 44,170 | 39,114 | 455,711 | ||||||||
| Securities available for sale, at fair value | 1,100,437 | 1,153,323 | 1,165,392 | ||||||||
| Securities held to maturity, at amortized cost | 479,915 | 498,043 | 430,425 | ||||||||
| Loans held for sale | 62,566 | 42,993 | 46,785 | ||||||||
| Loans and leases | 9,688,288 | 9,570,815 | 8,965,500 | ||||||||
| Allowance for credit losses | (129,605 | ) | (132,966 | ) | (126,112 | ) | |||||
| Net loans and leases | 9,558,683 | 9,437,849 | 8,839,388 | ||||||||
| Goodwill and other intangibles | 400,851 | 402,558 | 384,172 | ||||||||
| Other assets | 546,513 | 542,215 | 534,728 | ||||||||
| Total Assets | $ | 12,310,376 | $ | 12,237,147 | $ | 11,983,199 | |||||
| Liabilities and Shareholders' Equity | |||||||||||
| Noninterest-bearing demand deposits | $ | 2,420,235 | $ | 2,326,836 | $ | 2,463,971 | |||||
| Interest-bearing demand deposits(a) | 1,904,381 | 1,885,953 | 1,970,519 | ||||||||
| Savings deposits(a) | 4,103,904 | 4,132,508 | 3,654,354 | ||||||||
| Time deposits | 1,802,820 | 1,759,285 | 1,656,708 | ||||||||
| Total interest-bearing deposits | 7,811,105 | 7,777,746 | 7,281,581 | ||||||||
| Total deposits | 10,231,340 | 10,104,582 | 9,745,552 | ||||||||
| Short-term borrowings | 149,557 | 225,874 | 538,828 | ||||||||
| Long-term borrowings | 262,057 | 262,369 | 136,285 | ||||||||
| Total borrowings | 411,614 | 488,243 | 675,113 | ||||||||
| Other liabilities | 125,585 | 126,555 | 152,918 | ||||||||
| Shareholders' equity | 1,541,837 | 1,517,767 | 1,409,616 | ||||||||
| Total Liabilities and Shareholders' Equity | $ | 12,310,376 | $ | 12,237,147 | $ | 11,983,199 | |||||
(a) Deposits on the above balance sheet for periods prior to June 30, 2025 reflect a reclassification to interest-bearing deposits from savings deposits in order to remove the impact of an internal sweep program related to regulatory reserve requirements. The internal sweep program was terminated in the second quarter of 2025, therefore prior periods are now shown without the reclassification.
| FIRST COMMONWEALTH FINANCIAL CORPORATION | |||||||||||||||||||||
| CONSOLIDATED FINANCIAL DATA | |||||||||||||||||||||
| Unaudited | |||||||||||||||||||||
| (dollars in thousands) | |||||||||||||||||||||
| For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||||||
| September 30, | Yield/ | June 30, | Yield/ | September 30, | Yield/ | September 30, | Yield/ | September 30, | Yield/ | ||||||||||||
| 2025 | Rate | 2025 | Rate | 2024 | Rate | 2025 | Rate | 2024 | Rate | ||||||||||||
| NET INTEREST MARGIN | |||||||||||||||||||||
| Assets | |||||||||||||||||||||
| Loans and leases (FTE)(1)(3) | $ | 9,653,118 | 6.08 | % | $ | 9,430,284 | 6.09 | % | $ | 9,004,808 | 6.09 | % | $ | 9,386,232 | 6.04 | % | $ | 9,006,908 | 6.03 | % | |
| Interest bearing bank deposits | 40,159 | 4.85 | % | 59,614 | 4.85 | % | 278,006 | 5.49 | % | 58,735 | 4.79 | % | 199,887 | 5.55 | % | ||||||
| Securities (FTE)(1) | 1,597,369 | 3.60 | % | 1,666,988 | 3.67 | % | 1,542,792 | 3.34 | % | 1,621,458 | 3.62 | % | 1,508,604 | 3.21 | % | ||||||
| Total Interest-Earning Assets (FTE)(1) | 11,290,646 | 5.73 | % | 11,156,886 | 5.73 | % | 10,825,606 | 5.68 | % | 11,066,425 | 5.68 | % | 10,715,399 | 5.63 | % | ||||||
| Noninterest-earning assets | 919,357 | 939,441 | 950,926 | 931,187 | 949,389 | ||||||||||||||||
| Total Assets | $ | 12,210,003 | $ | 12,096,327 | $ | 11,776,532 | $ | 11,997,612 | $ | 11,664,788 | |||||||||||
| Liabilities and Shareholders' Equity | |||||||||||||||||||||
| Interest-bearing demand and savings deposits | $ | 6,064,450 | 2.03 | % | $ | 5,998,326 | 2.09 | % | $ | 5,657,796 | 2.27 | % | $ | 5,945,303 | 2.08 | % | $ | 5,613,986 | 2.19 | % | |
| Time deposits | 1,734,804 | 3.66 | % | 1,747,881 | 3.82 | % | 1,575,975 | 4.40 | % | 1,748,621 | 3.85 | % | 1,489,476 | 4.33 | % | ||||||
| Short-term borrowings | 128,548 | 3.89 | % | 146,503 | 4.12 | % | 541,010 | 4.62 | % | 108,877 | 3.84 | % | 560,743 | 4.62 | % | ||||||
| Long-term borrowings | 262,186 | 4.97 | % | 262,633 | 4.98 | % | 136,408 | 5.44 | % | 262,540 | 4.98 | % | 164,553 | 5.59 | % | ||||||
| Total Interest-Bearing Liabilities | 8,189,988 | 2.50 | % | 8,155,343 | 2.59 | % | 7,911,189 | 2.91 | % | 8,065,341 | 2.58 | % | 7,828,758 | 2.84 | % | ||||||
| Noninterest-bearing deposits | 2,366,509 | 2,316,854 | 2,286,482 | 2,312,469 | 2,299,650 | ||||||||||||||||
| Other liabilities | 122,896 | 131,218 | 189,571 | 135,251 | 183,255 | ||||||||||||||||
| Shareholders' equity | 1,530,610 | 1,492,912 | 1,389,290 | 1,484,551 | 1,353,125 | ||||||||||||||||
| Total Noninterest-Bearing Funding Sources | 4,020,015 | 3,940,984 | 3,865,343 | 3,932,271 | 3,836,030 | ||||||||||||||||
| Total Liabilities and Shareholders' Equity | $ | 12,210,003 | $ | 12,096,327 | $ | 11,776,532 | $ | 11,997,612 | $ | 11,664,788 | |||||||||||
| Net Interest Margin (FTE) (annualized)(1) | 3.92 | % | 3.83 | % | 3.56 | % | 3.79 | % | 3.55 | % | |||||||||||
| FIRST COMMONWEALTH FINANCIAL CORPORATION | |||||||||
| CONSOLIDATED FINANCIAL DATA | |||||||||
| Unaudited | |||||||||
| (dollars in thousands) | |||||||||
| September 30, | June 30, | September 30, | |||||||
| 2025 | 2025 | 2024 | |||||||
| Loan and Lease Portfolio Detail | |||||||||
| Commercial Loan and Lease Portfolio: | |||||||||
| Commercial, financial, agricultural and other | $ | 1,374,627 | $ | 1,381,523 | $ | 1,263,008 | |||
| Commercial real estate | 3,408,801 | 3,366,267 | 3,069,438 | ||||||
| Equipment finance loans and leases | 634,398 | 573,810 | 366,527 | ||||||
| Real estate construction | 403,548 | 424,437 | 522,548 | ||||||
| Total Commercial | 5,821,374 | 5,746,037 | 5,221,521 | ||||||
| Consumer Loan Portfolio: | |||||||||
| Closed-end mortgages | 1,858,471 | 1,879,468 | 1,878,980 | ||||||
| Home equity lines of credit | 524,254 | 510,807 | 495,396 | ||||||
| Real estate construction | 41,894 | 23,715 | 18,227 | ||||||
| Total Real Estate - Consumer | 2,424,619 | 2,413,990 | 2,392,603 | ||||||
| Auto & RV loans | 1,370,551 | 1,339,660 | 1,275,765 | ||||||
| Direct installment | 24,115 | 24,659 | 26,425 | ||||||
| Personal lines of credit | 45,657 | 44,475 | 47,076 | ||||||
| Student loans | 1,972 | 1,994 | 2,110 | ||||||
| Total Other Consumer | 1,442,295 | 1,410,788 | 1,351,376 | ||||||
| Total Consumer Portfolio | 3,866,914 | 3,824,778 | 3,743,979 | ||||||
| Total Portfolio Loans and Leases | 9,688,288 | 9,570,815 | 8,965,500 | ||||||
| Loans held for sale | 62,566 | 42,993 | 46,785 | ||||||
| Total Loans and Leases | $ | 9,750,854 | $ | 9,613,808 | $ | 9,012,285 | |||
| September 30, | June 30, | September 30, | |||||||
| 2025 | 2025 | 2024 | |||||||
| ASSET QUALITY DETAIL | |||||||||
| Nonperforming Loans and Leases: | |||||||||
| Loans and leases on nonaccrual basis | $ | 76,622 | $ | 83,180 | $ | 50,929 | |||
| Loans on nonaccrual basis - acquisition | 10,925 | 16,327 | 23,794 | ||||||
| Loans held for sale on a nonaccrual basis | 1,138 | — | — | ||||||
| Total Nonperforming Loans and Leases | $ | 88,685 | $ | 99,507 | $ | 74,723 | |||
| Other real estate owned ("OREO") | 853 | 1,049 | 669 | ||||||
| Repossessions ("Repos") | 1,503 | 945 | 1,188 | ||||||
| Total Nonperforming Assets | $ | 91,041 | $ | 101,501 | $ | 76,580 | |||
| Loans past due in excess of 90 days and still accruing | 2,117 | 1,297 | 1,191 | ||||||
| Classified loans and leases | 124,902 | 130,020 | 114,751 | ||||||
| Criticized loans and leases | 248,214 | 254,902 | 241,962 | ||||||
| Nonperforming assets as a percentage of total loans and leases, plus OREO and Repos(4) | 0.94 | % | 1.06 | % | 0.85 | % | |||
| Allowance for credit losses | $ | 129,605 | $ | 132,966 | $ | 126,112 | |||
| FIRST COMMONWEALTH FINANCIAL CORPORATION | ||||||||||||||||
| CONSOLIDATED FINANCIAL DATA | ||||||||||||||||
| Unaudited | ||||||||||||||||
| (dollars in thousands) | ||||||||||||||||
| For the Three Months Ended | For the Nine Months Ended | |||||||||||||||
| September 30, | June 30, | September 30, | September 30, | September 30, | ||||||||||||
| 2025 | 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net Charge-offs (Recoveries): | ||||||||||||||||
| Commercial, financial, agricultural and other | $ | 6,927 | $ | 726 | $ | 5,870 | $ | 7,982 | $ | 10,597 | ||||||
| Real estate construction | 829 | — | — | 829 | 29 | |||||||||||
| Commercial real estate | 3,011 | 613 | 1,381 | 4,932 | 1,881 | |||||||||||
| Residential real estate | 106 | 72 | 55 | 149 | 140 | |||||||||||
| Loans to individuals | 1,374 | 1,347 | 1,479 | 4,211 | 4,842 | |||||||||||
| Net Charge-offs | $ | 12,247 | $ | 2,758 | $ | 8,785 | $ | 18,103 | $ | 17,489 | ||||||
| Net charge-offs as a percentage of average loans and leases outstanding (annualized)(4) | 0.51 | % | 0.12 | % | 0.39 | % | 0.26 | % | 0.26 | % | ||||||
| Provision for credit losses as a percentage of net charge-offs | 92.49 | % | 322.63 | % | 120.83 | % | 143.41 | % | 129.68 | % | ||||||
| Provision for credit losses | $ | 11,327 | $ | 8,898 | $ | 10,615 | $ | 25,961 | $ | 22,680 | ||||||
| DEFINITIONS AND RECONCILIATION OF NON-GAAP MEASURES | |||||||||||
| 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. | |||||||||||
| (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. | |||||||||||
| (4) Excludes held for sale loans. | |||||||||||
| For the Three Months Ended | For the Nine Months Ended | ||||||||||
| September 30, | June 30, | September 30, | September 30, | September 30, | |||||||
| 2025 | 2025 | 2024 | 2025 | 2024 | |||||||
| Interest income | $ | 162,709 | $ | 158,926 | $ | 154,323 | $ | 468,763 | $ | 450,467 | |
| Adjustment to fully taxable equivalent basis (1) | 351 | 341 | 342 | 1,027 | 994 | ||||||
| Interest income adjusted to fully taxable equivalent basis (non-GAAP) | 163,060 | 159,267 | 154,665 | 469,790 | 451,461 | ||||||
| Interest expense | 51,586 | 52,685 | 57,808 | 155,877 | 166,656 | ||||||
| Net interest income, (FTE) (1) | $ | 111,474 | $ | 106,582 | $ | 96,857 | $ | 313,913 | $ | 284,805 | |
| FIRST COMMONWEALTH FINANCIAL CORPORATION | ||||||||||||||||
| CONSOLIDATED FINANCIAL DATA | ||||||||||||||||
| Unaudited | ||||||||||||||||
| (dollars in thousands, except per share data) | ||||||||||||||||
| DEFINITIONS AND RECONCILIATION OF NON-GAAP MEASURES | ||||||||||||||||
| For the Three Months Ended | For the Nine Months Ended | |||||||||||||||
| September 30, | June 30, | September 30, | September 30, | September 30, | ||||||||||||
| 2025 | 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net Income | $ | 41,328 | $ | 33,402 | $ | 32,086 | $ | 107,426 | $ | 106,723 | ||||||
| Intangible amortization | 1,567 | 1,311 | 1,223 | 4,009 | 3,656 | |||||||||||
| Tax benefit of amortization of intangibles | (329 | ) | (275 | ) | (257 | ) | (842 | ) | (768 | ) | ||||||
| Net Income, adjusted for tax affected amortization of intangibles | $ | 42,566 | $ | 34,438 | $ | 33,052 | $ | 110,593 | $ | 109,611 | ||||||
| Average Tangible Equity: | ||||||||||||||||
| Total shareholders' equity | $ | 1,530,610 | $ | 1,492,912 | $ | 1,389,290 | $ | 1,484,551 | $ | 1,353,125 | ||||||
| Less: intangible assets | 401,825 | 395,772 | 384,404 | 393,574 | 385,255 | |||||||||||
| Tangible Equity | 1,128,785 | 1,097,140 | 1,004,886 | 1,090,977 | 967,870 | |||||||||||
| Less: preferred stock | — | — | — | — | — | |||||||||||
| Tangible Common Equity | $ | 1,128,785 | $ | 1,097,140 | $ | 1,004,886 | $ | 1,090,977 | $ | 967,870 | ||||||
| (8)Return on Average Tangible Common Equity | 14.96 | % | 12.59 | % | 13.09 | % | 13.55 | % | 15.13 | % | ||||||
| For the Three Months Ended | For the Nine Months Ended | |||||||||||||||
| September 30, | June 30, | September 30, | September 30, | September 30, | ||||||||||||
| 2025 | 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Core Net Income: | ||||||||||||||||
| Total Net Income | $ | 41,328 | $ | 33,402 | $ | 32,086 | $ | 107,426 | $ | 106,723 | ||||||
| Net securites gains | (369 | ) | — | (194 | ) | (373 | ) | (217 | ) | |||||||
| Tax benefit of net securities gains | 77 | — | 41 | 78 | 46 | |||||||||||
| Merger and acquisition related expenses | 165 | 3,955 | — | 4,229 | 114 | |||||||||||
| Tax benefit of merger and acquisition related expenses | (35 | ) | (831 | ) | — | (888 | ) | (24 | ) | |||||||
| Provision for credit losses - acquisition day 1 non-PCD | — | 3,759 | — | 3,759 | — | |||||||||||
| Tax benefit of provision for credit losses - acquisition day 1 non-PCD | — | (789 | ) | — | (789 | ) | — | |||||||||
| (5)Core net income | $ | 41,166 | $ | 39,496 | $ | 31,933 | $ | 113,442 | $ | 106,642 | ||||||
| Average Shares Outstanding Assuming Dilution | 104,754,917 | 103,928,428 | 102,418,964 | 103,509,902 | 102,293,213 | |||||||||||
| (6)Core Earnings per common share (diluted) | $ | 0.39 | $ | 0.38 | $ | 0.31 | $ | 1.10 | $ | 1.04 | ||||||
| Intangible amortization | 1,567 | 1,311 | 1,223 | 4,009 | 3,656 | |||||||||||
| Tax benefit of amortization of intangibles | (329 | ) | (275 | ) | (257 | ) | (842 | ) | (768 | ) | ||||||
| Core Net Income, adjusted for tax affected amortization of intangibles | $ | 42,404 | $ | 40,532 | $ | 32,899 | $ | 116,609 | $ | 109,530 | ||||||
| (9)Core Return on Average Tangible Common Equity | 14.90 | % | 14.82 | % | 13.02 | % | 14.29 | % | 15.12 | % | ||||||
| FIRST COMMONWEALTH FINANCIAL CORPORATION | ||||||||||||||||
| CONSOLIDATED FINANCIAL DATA | ||||||||||||||||
| Unaudited | ||||||||||||||||
| (dollars in thousands, except per share data) | ||||||||||||||||
| DEFINITIONS AND RECONCILIATION OF NON-GAAP MEASURES | ||||||||||||||||
| For the Three Months Ended | For the Nine Months Ended | |||||||||||||||
| September 30, | June 30, | September 30, | September 30, | September 30, | ||||||||||||
| 2025 | 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Core Return on Average Assets: | ||||||||||||||||
| Total Net Income | $ | 41,328 | $ | 33,402 | $ | 32,086 | $ | 107,426 | $ | 106,723 | ||||||
| Total Average Assets | 12,210,003 | 12,096,327 | 11,776,532 | 11,997,612 | 11,664,788 | |||||||||||
| Return on Average Assets | 1.34 | % | 1.11 | % | 1.08 | % | 1.20 | % | 1.22 | % | ||||||
| Core Net Income(5) | $ | 41,166 | $ | 39,496 | $ | 31,933 | $ | 113,442 | $ | 106,642 | ||||||
| Total Average Assets | 12,210,003 | 12,096,327 | 11,776,532 | 11,997,612 | 11,664,788 | |||||||||||
| (7)Core Return on Average Assets | 1.34 | % | 1.31 | % | 1.08 | % | 1.26 | % | 1.22 | % | ||||||
| For the Three Months Ended | For the Nine Months Ended | |||||||||||||||
| September 30, | June 30, | September 30, | September 30, | September 30, | ||||||||||||
| 2025 | 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Core Efficiency Ratio: | ||||||||||||||||
| Total Noninterest Expense | $ | 72,834 | $ | 76,268 | $ | 70,070 | $ | 220,352 | $ | 201,441 | ||||||
| Adjustments to Noninterest Expense: | ||||||||||||||||
| Intangible amortization | 1,567 | 1,311 | 1,223 | 4,009 | 3,656 | |||||||||||
| Merger and acquisition related | 165 | 3,955 | — | 4,229 | 114 | |||||||||||
| Noninterest Expense - Core | $ | 71,102 | $ | 71,002 | $ | 68,847 | $ | 212,114 | $ | 197,671 | ||||||
| Net interest income, (FTE) | $ | 111,474 | $ | 106,582 | $ | 96,857 | $ | 313,913 | $ | 284,805 | ||||||
| Total noninterest income | 24,857 | 24,749 | 24,698 | 72,108 | 73,896 | |||||||||||
| Net securites gains | (369 | ) | — | (194 | ) | (373 | ) | (217 | ) | |||||||
| Total Revenue | 135,962 | 131,331 | 121,361 | 385,648 | 358,484 | |||||||||||
| Adjustments to Revenue: | ||||||||||||||||
| Derivative mark-to-market | 2 | — | (153 | ) | (151 | ) | (141 | ) | ||||||||
| Total Revenue - Core | $ | 135,960 | $ | 131,331 | $ | 121,514 | $ | 385,799 | $ | 358,625 | ||||||
| (10)Core Efficiency Ratio | 52.30 | % | 54.06 | % | 56.66 | % | 54.98 | % | 55.12 | % | ||||||
| FIRST COMMONWEALTH FINANCIAL CORPORATION | |||||||||
| CONSOLIDATED FINANCIAL DATA | |||||||||
| Unaudited | |||||||||
| (dollars in thousands) | |||||||||
| DEFINITIONS AND RECONCILIATION OF NON-GAAP MEASURES | |||||||||
| September 30, | June 30, | September 30, | |||||||
| 2025 | 2025 | 2024 | |||||||
| Tangible Equity: | |||||||||
| Total shareholders' equity | $ | 1,541,837 | $ | 1,517,767 | $ | 1,409,616 | |||
| Less: intangible assets | 400,851 | 402,558 | 384,172 | ||||||
| Tangible Equity | 1,140,986 | 1,115,209 | 1,025,444 | ||||||
| Less: preferred stock | — | — | — | ||||||
| Tangible Common Equity | $ | 1,140,986 | $ | 1,115,209 | $ | 1,025,444 | |||
| Tangible Assets: | |||||||||
| Total assets | $ | 12,310,376 | $ | 12,237,147 | $ | 11,983,199 | |||
| Less: intangible assets | 400,851 | 402,558 | 384,172 | ||||||
| Tangible Assets | $ | 11,909,525 | $ | 11,834,589 | $ | 11,599,027 | |||
| (12)Tangible Common Equity as a percentage of Tangible Assets | 9.58 | % | 9.42 | % | 8.84 | % | |||
| Shares Outstanding at End of Period | 104,293,298 | 104,925,587 | 102,237,941 | ||||||
| (11)Tangible Book Value Per Common Share | $ | 10.94 | $ | 10.63 | $ | 10.03 | |||
| For the Three Months Ended | For the Nine Months Ended | ||||||||||||||
| September 30, | June 30, | September 30, | September 30, | September 30, | |||||||||||
| 2025 | 2025 | 2024 | 2025 | 2024 | |||||||||||
| Pre-tax pre-provision net revenue: | |||||||||||||||
| Net interest income | $ | 111,123 | $ | 106,241 | $ | 96,515 | $ | 312,886 | $ | 283,811 | |||||
| Noninterest income | 24,857 | 24,749 | 24,698 | 72,108 | 73,896 | ||||||||||
| Noninterest expense | 72,834 | 76,268 | 70,070 | 220,352 | 201,441 | ||||||||||
| Pre-tax pre-provision net revenue | $ | 63,146 | $ | 54,722 | $ | 51,143 | $ | 164,642 | $ | 156,266 | |||||
| Net securites gains | $ | (369 | ) | $ | — | $ | (194 | ) | $ | (373 | ) | $ | (217 | ) | |
| Merger and acquisition related expenses | 165 | 3,955 | — | 4,229 | 114 | ||||||||||
| Core pre-tax pre-provision net revenue | $ | 62,942 | $ | 58,677 | $ | 50,949 | $ | 168,498 | $ | 156,163 | |||||
| Net charge-offs | $ | 12,247 | $ | 2,758 | $ | 8,785 | $ | 18,103 | $ | 17,489 | |||||
FAQ
What were First Commonwealth (FCF) Q3 2025 earnings per share and net income?
How did First Commonwealth's net interest margin (NIM) change in Q3 2025?
What dividend did First Commonwealth (FCF) declare in October 2025 and when is it payable?
How strong is First Commonwealth's capital position at September 30, 2025?
Did First Commonwealth repurchase shares in Q3 2025 and what capacity remains?
What drove the increase in net charge-offs for FCF in Q3 2025?
