First Commonwealth Financial Stock Price, News & Analysis

First Commonwealth Financial reported Q1 2025 financial results with net income of $32.7 million and diluted earnings per share of $0.32. This represents a decrease from both the previous quarter ($35.8 million) and Q1 2024 ($37.5 million).

Key highlights include:

• Loan growth of 4.4% annualized, driven by $121.4 million increase in commercial loans
• Deposit growth of 7.7% annualized, with $214.8 million increase in savings deposits
• Net interest margin improved to 3.62%, up 8 basis points from previous quarter
• Board approved 3.9% increase in quarterly dividend to $0.135 per share

The company received all approvals for its acquisition of CenterGroup Financial, expected to complete on April 30, 2025. Asset quality remained stable with nonperforming loans at $59.4 million (0.65% of total loans) and net charge-offs decreasing to $3.1 million. The efficiency ratio increased to 59.08%, while maintaining strong capital positions with a Bank-level Total Capital Ratio of 13.6%.

First Commonwealth Financial (NYSE: FCF) has scheduled its First Quarter 2025 earnings conference call for Wednesday, April 30, 2025, at 2:00 p.m. Eastern Time. The call will feature key executives including T. Michael Price (President and CEO), James R. Reske (CFO), Jane Grebenc (Chief Revenue Officer), and Brian J. Sohocki (Chief Credit Officer).

The company will release its Q1 2025 financial results before market opens on Tuesday, April 29, 2025. Investors can access the call through a live webcast at fcbanking.com/investorrelations or via phone at 1-888-330-3181 (U.S. toll-free) or 1-646-960-0699 (international). Questions can be submitted via email to investorrelations@fcbanking.com starting at 9:00 a.m. ET on the day of the call.

First Commonwealth Financial (NYSE: FCF) has secured all necessary regulatory approvals for its planned merger with CenterGroup Financial, Inc. (CGFI). The approvals include clearance from the Federal Deposit Insurance for merging CenterBank into First Commonwealth Bank, and approval from the Pennsylvania Department of Banking and Securities for both holding company and subsidiary bank mergers.

The Federal Reserve Bank of Cleveland has granted First Commonwealth a waiver of merger application requirements. The merger completion now awaits CGFI shareholder approval and is expected to conclude in the second quarter of 2025.

First Commonwealth Financial (NYSE: FCF) reported fourth quarter 2024 net income of $35.8 million, or $0.35 per diluted share, compared to $32.1 million ($0.31/share) in Q3 2024 and $44.8 million ($0.44/share) in Q4 2023.

Key Q4 2024 highlights include: average deposits increased $207.1 million (8.7% annualized), total loans grew $23.5 million (1.0% annualized), and net interest margin was 3.54%. The core efficiency ratio improved to 56.07%. Net charge-offs were $13.7 million, with nonperforming loans at $61.5 million (0.68% of total loans).

For full-year 2024, the company reported net income of $142.6 million ($1.39/share) compared to $157.1 million ($1.54/share) in 2023. The company declared a quarterly dividend of $0.13 per share, representing a 4.0% increase from Q4 2023.

First Commonwealth Financial (NYSE: FCF) has announced its upcoming Fourth Quarter and Full-Year 2024 earnings conference call, scheduled for Wednesday, January 29, 2025, at 2:00 p.m. Eastern Time. The call will be led by President and CEO T. Michael Price, alongside Executive VP and CFO James R. Reske, Executive VP and Chief Revenue Officer Jane Grebenc, and Executive VP and Chief Credit Officer Brian J. Sohocki.

The company will release its Q4 2024 financial results after market close on Tuesday, January 28, 2025. Investors can access the call through a live webcast at fcbanking.com/investorrelations or by phone. Questions can be submitted via email starting at 9:00 a.m. Eastern Time on the day of the call.

First Commonwealth Financial (NYSE: FCF) has announced an all-stock acquisition of CenterGroup Financial for approximately $54.6 million. The merger will significantly expand First Commonwealth's presence in Cincinnati, adding $348.4 million in total assets, 3 branch locations, a loan production office, and a mortgage office.

Under the agreement, CenterGroup shareholders will receive 6.10 shares of First Commonwealth common stock for each CenterGroup share. The merger, expected to complete in first half of 2025, will enhance First Commonwealth's commercial focus in Cincinnati, incorporating CenterGroup's 65% business-oriented customer base.

The transaction is projected to be 2% accretive to First Commonwealth's earnings in 2025 and 3% accretive in 2026 once cost savings are fully implemented. Tangible book value dilution is expected to be less than 2%.

First Commonwealth Bank has announced the promotion of Linda Metzmaier to Executive Vice President/Chief Risk Officer, effective January 1, 2025. This move is part of a strategic realignment separating the bank's legal and risk functions. Metzmaier, who joined the bank as Chief Compliance Officer in 2011, will oversee fair lending, bank secrecy, model risk management, compliance, information security, fraud and security, and third party and business continuity.

Matthew Tomb, who has served as both Chief Risk Officer and General Counsel since 2010, will focus solely on his role as Chief Legal Officer/General Counsel. The reorganization aims to allow for dedicated prioritization of each function and position the organization for future strategic changes.

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.