Financial Data and Key Metrics Changes - For Q3 2023, the company reported core net income of $39.6 million, translating to $0.39 earnings per share, with a return on assets (ROA) of 1.38% and an efficiency ratio of 53.4% [24] - Total loans grew by approximately $102 million in the quarter, representing a 4.6% annualized growth rate [16] - End-of-period deposits increased by $94.8 million or 4.2% annualized in Q3, closely matching loan growth [26] - The net interest margin (NIM) compressed by nine basis points quarter-to-quarter to 3.76% [39] Business Line Data and Key Metrics Changes - Commercial Banking and Equipment Finance were the primary categories driving loan growth [16] - New loans were originated at an average rate of 7.43% in Q3, up from 7.01% in Q2 and 6.61% in Q1 [30] - Fee income remained relatively unchanged from the previous quarter, with expectations for stability in the upcoming quarter [45] Market Data and Key Metrics Changes - Average deposits increased by 2.1% from the previous quarter, with strong contributions from Central Ohio and Community PA [41] - The loan-to-deposit ratio rose slightly from 96.4% to 96.7% during the quarter [41] Company Strategy and Development Direction - The company aims to grow deposits to fund loan growth, focusing on core relationship growth rather than relying solely on special rates [109] - Management is committed to maintaining a strong deposit base while navigating the challenges of rising deposit costs [108][110] - The company is exploring M&A opportunities, particularly with smaller rural depositories, to supplement organic growth [161][162] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of the NIM, projecting it to hold up in 2024 despite potential fluctuations in depositor behavior [65] - The company anticipates continued expense pressures in 2024 but is focused on managing costs effectively [31] - Management noted that while delinquencies are rising in certain consumer categories, the overall credit quality remains stable [146] Other Important Information - The tangible book value per share increased from $8.24 to $8.35, reflecting retained earnings growth [46] - The company repurchased approximately 260,000 shares in Q3 at a weighted average price of $12.36 [66] Q&A Session Summary Question: Guidance on margin and NIM projections - Management indicated that if the Fed funds rate ends around 4% next year, the NIM is expected to expand initially and then stabilize [48][65] Question: Incremental spread on loan and deposit books - The company confirmed that the incremental spread is supportive of margin stability, with new loan yields around 7.43% and marginal cost of funds between 4% and 5% [75] Question: Credit quality and delinquencies - Management acknowledged rising delinquencies in certain sectors but expressed confidence in their underwriting standards and overall portfolio quality [140][146] Question: Deposit growth strategy - The focus remains on growing deposits through core relationships rather than relying heavily on special rates, with a strong retention rate on CDs [110][107] Question: M&A activity and market position - There is increased interest in M&A conversations, particularly with smaller banks, as the company seeks to leverage its strong market position [161][162]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-11138 First Commonwealth Financial Corporation (Exact name of registrant as specified in its charter) Pennsylvania 25-1428528 (State or othe ...

圈 Commonwealth。 園CFIRST Commonwealth statements can be identified by the fact that they do not relate strictly to historical or current facts and often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate" or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could" or "may." Such statements are based on assumptions and involve risks and uncertainties, many of which are beyond our control. Factors that could cause actual results, perf ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission ...

圈 Commonwealth。 m nonwealth. Commonwealth FORWARD-LOOKING STATEMENTS 1Q 2023 Earnings Release Webcast Presentation (1) Please refer to the appendix for a reconciliation of non-GAAP measures (2) Represents excess capital above the bank-level Tier 1 Capital regulatory "well capitalized" requirement of 8.0% NET INTEREST INCOME AND NET INTEREST MARGIN 5 (2) Please refer to the appendix for a reconciliation of non-GAAP measures Net interest margin of 4.01% increased 2bps from LQ and 82bps YoY − Cost of funds wer ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file Number 001-11138 FIRST COMMONWEALTH FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) | PENNSYLVANIA | | 25-14285 ...

First Commonwealth Financial Corporation (NYSE:FCF) Q4 2022 Earnings Conference Call January 25, 2023 2:00 PM ET Company Participants Ryan Thomas - Vice President, Finance and IR Mike Price - President and CEO Jim Reske - Chief Financial Officer Jane Grebenc - Bank President and CRO Brian Karrip - Chief Credit Officer Conference Call Participants Daniel Tamayo - Raymond James Frank Schiraldi - Piper Sandler Karl Shepard - RBC Capital Markets Michael Perito - KBW Manuel Navas - D.A. Davidson Daniel Cardenas ...

圈 Commonwealth。 4Q 2022 Earnings Release Webcast Presentation January 25, 2022 FORWARD-LOOKING STATEMENTS 4Q 2022 Earnings Release Webcast Presentation (1) Please refer to the appendix for a reconciliation of non-GAAP measures (2) Represents excess capital above the bank-level Tier 1 Capital regulatory "well capitalized" requirement of 8.0% NET INTEREST INCOME AND NET INTEREST MARGIN − Cost of funds were 0.39% during the Approximately $3.8 billion, or 50%, of the $7.6 billion loan portfolio is variable − Av ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-11138 | --- | --- | --- | |---------------------------------------------------|-------------------------------------------------------- ...

First Commonwealth Financial Corporation (NYSE:FCF) Q3 2022 Earnings Conference Call October 26, 2022 2:00 PM ET Company Participants Ryan Thomas - Vice President, Finance & Investor Relations Mike Price - President & Chief Executive Officer Jim Reske - Chief Financial Officer Conference Call Participants Frank Schiraldi - Piper Sandler Daniel Tamayo - Raymond James Michael Perito - KBW Matthew Breese - Stephens Operator Good afternoon. My name is Chris, and I'll be your conference operator today. At this t ...