First Commonwealth Finalizes Conversion of Cincinnati’s Former CenterBank

Rhea-AI Summary

First Commonwealth Bank (NYSE: FCF) has successfully completed the systems conversion and rebranding of CenterBank in Cincinnati, Ohio, following the legal closing of the acquisition on April 30, 2025. The acquisition includes $348.4 million in total assets, three branch locations, a loan production office, and a mortgage center. The transaction strengthens First Commonwealth's Cincinnati presence with a 65% business-focused customer base. As part of the integration, two Milford branch offices will consolidate into one location, and 25 former CenterBank employees have transitioned to First Commonwealth. Amy McFarland will continue leading as Regional President for Cincinnati, maintaining the bank's commitment to customer-focused, commercially oriented business operations in this strategic market.

Positive

• Acquisition adds significant assets worth $348.4 million to First Commonwealth's portfolio
• Strategic expansion in Cincinnati market with three branch locations, loan production office, and mortgage center
• Strong commercial focus with 65% business-oriented customer base
• Operational efficiency through consolidation of two Milford branch offices
• Successful retention of 25 CenterBank employees ensuring business continuity

Negative

• Potential short-term integration costs and operational adjustments
• Reduction in physical presence through branch consolidation may affect some customers

INDIANA, Pa., June 09, 2025 (GLOBE NEWSWIRE) -- First Commonwealth Bank, a subsidiary of First Commonwealth Financial Corporation (NYSE: FCF), completed its systems conversion and rebranding of the former CenterBank in Cincinnati, Ohio, over the weekend of June 6-8. 

Legal closing of the CenterBank acquisition was completed on April 30, 2025 and included $348.4 million in total assets, three branch locations, a loan production office, and a mortgage center. This transaction significantly increases First Commonwealth’s Cincinnati franchise and supports its commercially focused growth strategy by adding a customer base that is 65 percent business. As part of the integration, two separate Milford branch offices of the banks will consolidate into one office at 744 State Route 28, Milford, Ohio. Twenty-five former CenterBank employees have also transitioned into roles at First Commonwealth.

“I’m excited to welcome our new employees and our new personal and business banking customers to First Commonwealth Bank,” said T. Michael Price, President and CEO of First Commonwealth Financial Corporation.  “We have known the CenterBank team for a long time and believe its customer-focused, commercially oriented business model strongly aligns with our culture and enhances our existing Cincinnati growth plans in this highly attractive market.”

Amy McFarland, Regional President for Cincinnati, will continue as First Commonwealth’s lead executive in the market.

Customers with questions are encouraged to call First Commonwealth’s Engagement Center at (800) 711-BANK (2265), visit https://www.fcbanking.com/welcome/, email welcome@fcbanking.com, or visit their local community office.

About First Commonwealth Financial Corporation

First Commonwealth Financial Corporation (NYSE: FCF), headquartered in Indiana, Pennsylvania, is a community bank committed to its mission of improving the financial lives of its neighbors and their businesses. First Commonwealth operates 127 branches throughout Pennsylvania and Ohio and also has business banking centers in Pittsburgh and Harrisburg, Pennsylvania; and Cleveland, Canton, Cincinnati and Columbus, Ohio. First Commonwealth, through subsidiaries First Commonwealth Bank and First Commonwealth Insurance Agency, provides a full range of commercial and retail banking services, including mortgage, wealth management and insurance solutions, along with equipment financing and SBA and indirect lending. For more information about First Commonwealth or to open an account today, please visit www.fcbanking.com.

CONTACT:

Ron Wahl,
Communications/Media Relations Specialist
(724) 463-6806
RWahl@fcbanking.com

FAQ

What is the total asset value of First Commonwealth's CenterBank acquisition?

The CenterBank acquisition includes $348.4 million in total assets.

How many CenterBank employees joined First Commonwealth Bank after the acquisition?

Twenty-five former CenterBank employees have transitioned into roles at First Commonwealth Bank.

When did First Commonwealth Bank (FCF) complete the legal closing of CenterBank acquisition?

The legal closing of the CenterBank acquisition was completed on April 30, 2025.

Who is leading First Commonwealth's Cincinnati operations after the CenterBank acquisition?

Amy McFarland continues as First Commonwealth's Regional President for Cincinnati.

What percentage of CenterBank's customer base is business-focused?

65 percent of CenterBank's customer base is business-focused.

What changes are happening to the Milford branch locations after the acquisition?

Two separate Milford branch offices will consolidate into one office at 744 State Route 28, Milford, Ohio.