First Commonwealth Financial Stock Price, News & Analysis

First Commonwealth Financial Corporation (NYSE: FCF) reported first-quarter 2023 financial results, revealing a net income of $30.2 million and diluted earnings per share of $0.30. This reflects a decrease of $5.5 million from the previous quarter. The quarter included $19.2 million of merger-related expenses from the acquisition of Centric Financial Corporation, contributing to notable items impacting credit loss provisions. Core net income rose to $45.4 million, bolstered by an increase in net interest margin to 4.01% and average interest-earning assets totaling $8.1 billion. Total loans grew by $64.8 million, while average deposits increased by $713.4 million. The company declared a 4.2% increase in quarterly dividends to shareholders, reflecting ongoing capital strength.

First Commonwealth Financial Corporation (NYSE: FCF) will host an earnings conference call on April 26, 2023, at 2:00 p.m. ET to discuss Q1 2023 financial results. The call will feature key executives, including President T. Michael Price and CFO James R. Reske. A press release detailing the financial results will be available before market open on April 25, 2023. Investors can access the call via phone or live webcast on the company's investor relations page. Afterwards, the presentation will be archived online for 30 days, enabling a playback option for those unable to attend the live event.

First Commonwealth, headquartered in Indiana, PA, operates community banking offices across Pennsylvania and Ohio, providing a variety of financial services.

First Commonwealth Financial Corporation (NYSE: FCF) has successfully completed its acquisition of Centric Financial Corporation (OTCPink: CFCX) as of February 1, 2023. This strategic merger aims to enhance First Commonwealth's presence in key Pennsylvania markets, including Harrisburg and Lancaster. Customers of Centric Bank will gain access to First Commonwealth's extensive network of 55,000 surcharge-free ATMs and 126 retail branches. Additionally, they will enjoy enhanced financial services, from personal loans to mobile banking. Former Centric CEO Patricia A. Husic has joined First Commonwealth's board, signaling leadership continuity.

First Commonwealth Financial Corporation (NYSE: FCF) reported strong financial results for Q4 and full year 2022, with net income reaching $35.7 million and a diluted EPS of $0.38, marking increases from the previous quarter and year. Total loans surged by $291.3 million (15.7% annualized) and net interest income rose to $88.3 million. The company declared a $0.12 per share dividend, payable on February 17, 2023. However, noninterest income decreased by $1.6 million and average deposits dropped by $75.2 million. The firm maintained a robust capital position, with Tier 1 Capital ratio at 11.3%. Core ROAA improved to 1.51% compared to the previous quarter.

First Commonwealth Financial Corporation (NYSE: FCF) will host a Fourth Quarter 2022 earnings conference call on January 25, 2023, at 2:00 p.m. ET. The call will feature executives including CEO T. Michael Price and CFO James R. Reske. A press release with financial results will be published after market close on January 24, 2023. Investors can listen live via phone or webcast. The Fourth Quarter earnings report will be accessible from the company's Investor Relations webpage.

First Commonwealth Financial Corporation (NYSE: FCF) announced it has received all necessary regulatory approvals to proceed with the merger of Centric Financial Corporation and Centric Bank into First Commonwealth. The Federal Deposit Insurance Corporation and the Pennsylvania Department of Banking and Securities have granted required approvals. The completion of this merger is pending the approval of Centric's shareholders and is anticipated in Q1 2023. The merger is expected to enhance market presence and operational efficiency for First Commonwealth.

First Commonwealth Financial Corporation (NYSE: FCF) reported a net income of $34.0 million for Q3 2022, achieving a diluted earnings per share of $0.36, consistent with Q3 2021. Core net income reached $34.4 million, with a 10.3% increase in core revenue compared to the previous quarter. Total loans increased 13.3% annualized, driven by commercial real estate and consumer loans. However, average deposits fell 4.8% annualized. The company announced the acquisition of Centric Financial Corporation.

First Commonwealth Financial Corporation (NYSE: FCF) will hold a conference call on October 26, 2022, at 2:00 p.m. ET to discuss its financial results for Q3 2022. The call will be led by CEO T. Michael Price, along with key executives. The earnings press release will be available after market close on October 25, 2022. Participants can join via phone or internet. This call is critical for investors looking to assess the company's performance and insights into future guidance.

First Commonwealth Financial Corporation (NYSE: FCF) and Centric Financial Corporation (OTCPink: CFCX) have announced a definitive Agreement and Plan of Merger, valued at approximately $144 million or $16.20 per share, to merge Centric into First Commonwealth. The merger is expected to enhance First Commonwealth's market position, contributing $1.0 billion in assets and expanding into key regions. Upon completion, Centric’s CEO, Patti Husic, will join First Commonwealth's board. The merger is projected to be accretive to earnings by 5% in 2023 and 7% in 2024.