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 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.
First Commonwealth Financial Corporation (NYSE: FCF) announced a conference call to discuss its Second Quarter 2020 financial results on July 29, 2020, at 2:00 p.m. ET. The call will be led by President and CEO T. Michael Price, along with other executives. A press release detailing the financial results will be issued after market close on July 28, 2020. Investors can access the call via phone or a live webcast on the company's Investor Relations webpage. Participants can submit questions via email beginning at 9:00 a.m. on the day of the call.