First Commonwealth Financial Stock Price, News & Analysis

First Commonwealth Financial Corporation (NYSE: FCF) reported strong financial results for Q1 2021, with net income of $39.8 million and diluted EPS of $0.41, marking substantial increases from both the previous quarter and year. Key highlights include a 27 basis point rise in pre-tax pre-provision ROAA to 2.00%, boosted net interest income of $69.8 million, and a significant 4.5% increase in the quarterly dividend. The company also reported improved asset quality with reduced nonperforming loans and net charge-offs.

First Commonwealth Financial Corporation (NYSE: FCF) will host a conference call on April 28, 2021, at 2:00 p.m. ET to discuss its Q1 2021 financial results. The call will feature key executives including CEO T. Michael Price and CFO James R. Reske. A press release with detailed earnings will be issued prior to the call on April 27, 2021. Participants can join via phone or webcast, with a replay available afterward. The company operates 119 banking offices across Pennsylvania and Ohio, offering a range of financial services.

First Commonwealth Financial Corporation (NYSE: FCF) announced that David S. Dahlmann will step down as Chair of the Board on April 27, 2021, after serving since 2005. Jon L. Gorney, an independent director since 2013, will succeed him. Dahlmann expressed gratitude for his tenure, highlighting the board's strength in governance. Gorney, with extensive banking experience, believes in continuing to deliver shareholder value. CEO T. Michael Price credited Dahlmann for inspiring independent governance and emphasized Gorney’s tech background as pivotal for future banking strategies.

First Commonwealth Financial Corporation (NYSE: FCF) reported a net income of $25.7 million for Q4 2020, yielding $0.27 diluted earnings per share, unchanged from Q4 2019 but up from $0.20 in Q3 2020. Full-year net income fell to $73.4 million from $105.3 million in 2019. Core pre-tax pre-provision net revenue decreased to $40.4 million, down $0.8 million from Q3. The company declared a quarterly dividend of $0.11 per share, with a yield of 3.5%. Despite challenges, FCF maintained strong capital ratios and a new $25 million share repurchase program.

First Commonwealth Financial Corporation (NYSE: FCF) will hold a conference call on January 27, 2021, at 2:00 p.m. ET to discuss its financial results for the fourth quarter and full year ended December 31, 2020. The call will feature executives including CEO T. Michael Price and CFO James R. Reske. A press release detailing the Fourth Quarter and Full Year 2020 financial results will be issued after market close on January 26, 2021. The conference can be accessed live via phone or webcast, with a replay available thereafter.

First Commonwealth Bank has launched its "Share the Warmth" holiday campaign with a $100,000 donation to Dollar Energy Fund, supporting families struggling to pay utility bills this winter. This initiative, bolstered by matching funds from partner energy companies, aims to help over 550 households in Ohio and Pennsylvania. Dollar Energy Fund, established in 1983, administers hardship programs across 14 states, ensuring that 100% of donations provide direct utility assistance. Additionally, First Commonwealth Bank plans to donate $25,000 to human service agencies in Ohio, extending its community support.

First Commonwealth Financial Corporation (NYSE: FCF) reported a net income of $19.2 million for Q3 2020, down from $23.9 million in Q2 2020. The diluted EPS dropped to $0.20, a decrease of $0.04 per share. Core net income remained stable at $23.8 million, with a core EPS of $0.24. The provision for loan losses increased by $4.4 million to $11.2 million. Net interest income was flat at $66.7 million, while noninterest income rose to $26.8 million, boosted by strong mortgage volume. The company declared a quarterly dividend of $0.11 per share, with a 4.9% projected annual yield.

First Commonwealth Financial Corporation (NYSE: FCF) will host a conference call on October 28, 2020, at 2:00 PM ET to discuss its Q3 2020 financial results. The earnings press release will be issued after market close on October 27, 2020. The call will feature key executives including CEO T. Michael Price and CFO James R. Reske. Interested parties can access the call via phone or through the company's investor relations webpage. The call will also be available for replay after the event.

First Commonwealth Financial Corporation (NYSE: FCF) reported a strong second quarter in 2020 with a net income of $23.9 million or $0.24 per share, up from $4.7 million in Q1 2020. The provision for loan losses dropped from $30.9 million to $6.9 million, while pre-tax pre-provision net revenue was $36.1 million. Total loans increased by $612.8 million, largely due to the SBA Paycheck Protection Program. Average deposits surged by 44.8% annualized. The company announced a quarterly dividend of $0.11 per share, reflecting strong capital ratios exceeding regulatory requirements.