GlobeNewswire·Jul 28, 2026, 5:00 PM ET

First Commonwealth Announces Second Quarter 2026 Earnings; Declares Quarterly Dividend and Announces Additional Share Repurchase Authorization

FCF

First Commonwealth Financial Corporation reported second quarter 2026 net income of $44.6 million, or $0.44 per diluted share, an increase from $37.5 million ($0.37 per share) in the first quarter of 2026.
Core net income for the quarter was $44.4 million, or $0.44 per share, representing a $7.0 million increase from the prior quarter.
Core pre-tax pre-provision net revenue totaled $65.0 million, up $7.1 million from the previous quarter.
Net interest income on a fully taxable equivalent basis reached $112.8 million, while the net interest margin expanded to 4.01%.
Noninterest income was $26.7 million, excluding securities gains, driven by gains on sub debt redemption, BOLI income, and interchange fees.
Noninterest expense decreased to $74.1 million, excluding merger-related costs, resulting in a core efficiency ratio of 52.24%.
Total loans increased by $46.5 million to $9.5 billion, while the loan-to-deposit ratio rose to 92.7%.
Average deposits grew by $52.3 million, though end-of-period deposits decreased by $149.8 million due to time deposit maturities.
Net charge-offs increased to $11.4 million, primarily due to the resolution of six commercial credits, while nonperforming loans decreased to $81.6 million.
The allowance for credit losses stood at $127.4 million, or 1.35% of end-of-period loans.
The company repurchased 645,695 shares for $12.0 million in the quarter and announced an additional $75.0 million share repurchase authorization on July 28, 2026.
First Commonwealth declared a quarterly dividend of $0.14 per share, a 3.7% increase from the prior year quarter, payable on August 21, 2026.
The Bank's Total Capital Ratio was 14.0%, exceeding regulatory requirements by $393.8 million.
First Commonwealth Bank was named to TIME Magazine's 2026 America's Best Companies list.