Welcome to our dedicated page for First Commonwealth Financial news (Ticker: FCF), a resource for investors and traders seeking the latest updates and insights on First Commonwealth Financial stock.
First Commonwealth Financial Corporation reports recurring developments tied to its regional banking and financial services operations in Pennsylvania and Ohio. The company provides commercial banking, consumer banking, mortgage, equipment finance, wealth management and insurance products through First Commonwealth Bank and First Commonwealth Insurance Agency.
News about FCF commonly covers quarterly earnings, net interest income and margin trends, credit quality, provision expense, regulatory capital, dividends and common stock repurchase authorizations. Company updates also include leadership appointments, board composition, technology and digital strategy responsibilities, and other governance matters connected to its bank holding company structure.
First Commonwealth Financial (NYSE: FCF) reported Q3 2024 financial results with net income of $32.1 million ($0.31 per share), down from $37.1 million ($0.36 per share) in Q2 2024 and $39.2 million ($0.38 per share) in Q3 2023. The quarter saw net interest income of $96.9 million, a $1.5 million increase from previous quarter. Average deposits grew by $76.4 million (3.2% annualized), while total loans decreased by $33.4 million. The company declared a quarterly dividend of $0.13 per share, representing a 4.0% increase from Q3 2023.
First Commonwealth Financial (NYSE: FCF) has announced its upcoming Third Quarter 2024 Earnings Conference Call, scheduled for Wednesday, October 30, 2024, at 2:00 p.m. Eastern Time. The call will be hosted by T. Michael Price, President and CEO, alongside other executive officers. The company will release its Q3 2024 financial results after market close on Tuesday, October 29, 2024.
Interested parties can access the conference call via live webcast or phone. The webcast will be available on First Commonwealth's Investor Relations webpage, while phone access is available through toll-free and international numbers. A replay of the call will be accessible approximately one hour after its conclusion. Participants can submit questions via email starting at 9:00 a.m. Eastern Time on the day of the call until its conclusion.
First Commonwealth Financial (NYSE: FCF) reported second quarter 2024 earnings with net income of $37.1 million and diluted earnings per share of $0.36. This represents a slight decrease from the previous quarter and a more significant decline from Q2 2023. Key highlights include:
- Net interest margin improved to 3.57%, up 5 basis points from Q1 2024
- Average deposits increased by $199.9 million, or 8.7% annualized
- Total loans grew by $13.9 million, driven by equipment finance loans
- Core efficiency ratio improved to 53.6%
- Provision for credit losses increased to $7.8 million
- Nonperforming loans rose to $57.1 million, partly due to acquired loans
The bank maintained strong capital ratios and declared a quarterly dividend of $0.13 per share, representing a 4.0% increase from the previous year.
First Commonwealth Financial (NYSE: FCF) will host a conference call on July 24, 2024, at 2:00 p.m. Eastern Time to discuss its financial results for the second quarter ended June 30, 2024. The call, led by CEO T. Michael Price, will be joined by CFO James R. Reske, CRO Jane Grebenc, and Chief Credit Officer Brian G. Karrip. The press release detailing the earnings will be issued after market close on July 23, 2024.
The conference call will be available via webcast on the company's Investor Relations webpage or by phone. A replay will be accessible using the provided phone numbers and access codes. For questions, participants can email investorrelations@fcbanking.com starting at 9:00 a.m. on July 24, 2024.
The Federal Home Loan Bank of Pittsburgh (FHLBank) has announced the recipients of its 2024 Annual Member Awards. The Diversity, Equity, and Inclusion Membership Award was given to CNB Bank for their comprehensive DEI initiatives, including programs supporting veterans, women business owners, and underbanked populations. CNB Bank also has robust internal DEI programming.
The Pillars of the Community Awards were granted to First Commonwealth Bank and Wayne Bank. First Commonwealth Bank has supported 40 affordable housing projects since 2017 and assisted 100 first-time homebuyers in 2023. Wayne Bank has funded 21 projects through the Home4Good program and supports commercial rental developments and small businesses.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.