FCF News & Events

Reports Q1 revenue $133.69M, consensus $134.32M. Reports Q1 tangible book value per share $11.34. Reports Q1 CET1 capital ratio 12.5%. Reports Q1 net charge-offs .35%. "Despite some credit headwinds, we were pleased to see our capital and liquidity strengthen during the quarter, supported by a strong net interest margin, and stable seasonally-adjusted fee income," said T. Michael Price, president and CEO. "Organic loan growth was muted, reflecting elevated payoffs, but overall origination and credit trends remain well-managed. Looking ahead, we are confident in our positioning across our core businesses, and expect continued momentum as we progress through the year."

First Commonwealth declared a common stock quarterly dividend of 14c per share, which represents a 3.7% increase from the previous quarter. The cash dividend is payable on May 22 to shareholders of record as of May 8. This dividend represents a 3% projected annual yield utilizing the April 27 closing market price of $18.64.

First Commonwealth announced Ryan Gorney has been appointed executive VP and chief information officer, effective April 27. Gorney is replacing Norm Montgomery, First Commonwealth's long-time business integration group leader, who is retiring May 1. Gorney will report to T. Michael Price, president and CEO of First Commonwealth Financial Corporation, and will serve as a member of the company's executive leadership team. He most recently served as Chief Information Officer of Primis Bank.