Form 8-K

8-K — FIRST COMMONWEALTH FINANCIAL CORP /PA/

Accession: 0000712537-26-000018

Filed: 2026-04-28

Period: 2026-04-28

CIK: 0000712537

SIC: 6021 (NATIONAL COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — fcf-20260428.htm (Primary)

EX-99.1 — EX-99.1 PRESS RELEASE (fcf-ex991_20260428x8k.htm)

GRAPHIC (fcfimagea01.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K — FORM 8-K

8-K (Primary)

Filename: fcf-20260428.htm · Sequence: 1

fcf-20260428

falseFIRST COMMONWEALTH FINANCIAL CORP /PA/25-14285282026FY000071253700007125372026-04-282026-04-28

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 28, 2026

First Commonwealth Financial Corporation

(Exact name of registrant as specified in its charter)

Pennsylvania 001-11138 25-1428528

(State or other jurisdiction

of incorporation) (Commission File Number) (IRS Employer

Identification No.)

601 Philadelphia Street

Indiana, PA 15701

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (724) 349-7220

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, $1.00 par value FCF New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On April 28, 2026, First Commonwealth Financial Corporation (the “Company”) issued a press release announcing financial results for the three month period ended March 31, 2026. A copy of this press release and the related earnings tables are furnished as Exhibit 99.1 to this report and incorporated herein by reference.

Item 7.01 Regulation FD Disclosure

On April 28, 2026, the Company announced a cash dividend of $0.14 per share of the Company’s common stock. The dividend declaration is included in the press release announcing financial results for the three month period ended March 31, 2026. A copy of this press release is furnished as Exhibit 99.1 to this report and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

Exhibits

99.1

Press Release announcing First Quarter 2026 Financial Results, Increases Quarterly Dividend

104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: April 28, 2026

FIRST COMMONWEALTH FINANCIAL CORPORATION

By: /s/ James R. Reske

Name: James R. Reske

Title: Executive Vice President, Chief Financial Officer and Treasurer

EX-99.1 — EX-99.1 PRESS RELEASE

EX-99.1

Filename: fcf-ex991_20260428x8k.htm · Sequence: 2

Document

Exhibit 99.1

FOR IMMEDIATE RELEASE

First Commonwealth Announces First Quarter 2026 Earnings; Increases Quarterly Dividend

Indiana, PA, April 28, 2026 - First Commonwealth Financial Corporation (NYSE: FCF) today announced financial results for the first quarter of 2026.

Financial Summary

(dollars in thousands, For the Three Months Ended

except per share data) March 31, December 31, March 31,

2026 2025 2025

Reported Results

Net income $ 37,548 $ 44,876 $ 32,696

Diluted earnings per share $ 0.37 $ 0.43 $ 0.32

Return on average assets 1.25 % 1.46 % 1.14 %

Return on average equity 9.75 % 11.49 % 9.28 %

Operating Results (non-GAAP)(1)

Core net income $ 37,459 $ 44,658 $ 32,779

Core diluted earnings per share $ 0.37 $ 0.43 $ 0.32

Core pre-tax pre-provision net revenue $ 57,854 $ 63,166 $ 46,879

Provision expense $ 10,733 $ 7,005 $ 5,736

Net charge-offs $ 8,161 $ 11,272 $ 3,098

Reserve build/(release)(2)

$ 3,415 $ (3,837) $ 1,025

Core return on average assets (ROAA) 1.24 % 1.45 % 1.14 %

Core pre-tax pre-provision ROAA 1.92 % 2.05 % 1.63 %

Return on average tangible common equity 13.47 % 15.90 % 13.02 %

Core return on average tangible common equity 13.44 % 15.83 % 13.05 %

Core efficiency ratio 55.43 % 52.84 % 59.08 %

Net interest margin (FTE) 3.92 % 3.98 % 3.62 %

(1)Core operating results are a non-GAAP measure used by management to measure performance in operating the business that management believes enhances investors' ability to better understand the underlying business performance and trends related to core business activities. A full reconciliation of non-GAAP financial measures may be found at the end of the financial statements which accompany this release.

(2)Reserve build/(release) represents the net change in the Company's allowance for credit losses (ACL) from the prior period.

First Quarter 2026 Highlights

Financial results

•GAAP Net income of $37.5 million and diluted earnings per share totaled $0.37, a decrease of $7.3 million, or $0.06 per share from the prior quarter and an increase of $4.9 million, or $0.05 per share from first quarter of 2025.

◦Core pre-tax pre-provision net revenue (PPNR)(1) totaled $57.9 million, a decrease of $5.3 million from the prior quarter and an increase of $11.0 million from the first quarter of 2025. The decrease from the prior quarter was primarily as a result of a $4.2 million decrease in net interest income (FTE)

•End of period loans (excluding loans held for sale) decreased $74.2 million, or 3.2% annualized from the previous quarter

◦Loans held for sale decreased $239.8 million from the previous quarter due primarily to the sale of a $225.4 million Commercial portfolio during the quarter that had been moved to held for sale at year end as previously disclosed

•Average deposits increased $67.1 million, or 2.7% annualized from the previous quarter

◦End of period deposits increased $158.9 million, or 6.3% annualized from the previous quarter

•The loan-to-deposit ratio decreased 447 basis points to 90.9% in the first quarter of 2026

•Net interest income (FTE) of $109.3 million decreased $4.2 million from the previous quarter and increased $13.5 million from the first quarter of 2025

•Noninterest income (excluding security gains of $0.2 million in 1Q26 and $0.4 million in 4Q25) of $24.4 million increased $0.1 million from the previous quarter and increased $1.9 million from the first quarter of 2025

•Noninterest expense (excluding merger-related expense of $0.1 million in 1Q26 and $0.2 million in 4Q25 and $0.1 million in 1Q25) of $75.5 million increased $1.2 million from the previous quarter and increased $4.3 million from the first quarter of 2025

•Tangible book value per share increased $0.12, or 4.3% annualized from the previous quarter

◦AOCI as a percentage of tangible common equity increased 30 basis points to 5.90% in the first quarter of 2026

Profitability

•The net interest margin of 3.92% decreased 6 basis points compared to the prior quarter and increased 30 basis points from the first quarter of 2025

•The core efficiency ratio(1) increased 259 basis points to 55.43% compared to the prior quarter and decreased 365 basis points from the first quarter of 2025

•Core ROAA decreased 21 basis points to 1.24% compared to the prior quarter and increased 10 basis points from the first quarter of 2025

•Core pre-tax pre-provision ROAA(1) decreased 13 basis points to 1.92% compared to the prior quarter and increased 29 basis points from the first quarter of 2025

Strong capital positions

•On April 28, 2026, the Board of Directors authorized a 3.7% increase in the quarterly cash dividend to shareholders

•The Bank-level Total Capital Ratio was 13.8% at March 31, 2026, which represents $376.3 million in excess capital above the regulatory “well capitalized” requirement of 10.0%

•A total of 1,284,457 shares at a weighted average price of $17.67 were repurchased during the first quarter of 2026 under the Company’s previously authorized share repurchase programs. The remaining repurchase capacity under the current program was $18.4 million as of March 31, 2026

Asset quality

•The total provision for credit losses was $10.7 million, an increase of $3.7 million from the previous quarter primarily due to a $4.2 million increase in reserves for individually analyzed commercial credits

•Reserve build/(release)(2) was $3.4 million, which resulted in reserves to total loans of 1.37%, which is an increase of 5 basis points from the previous quarter

•Nonperforming loans of $92.3 million increased $0.6 million from the previous quarter

•Subsequent to March 31, 2026, two individually analyzed nonaccrual commercial credits with an outstanding balance of $5.6 million with associated reserves of $3.3 million were sold or paid off

•Net charge-offs on loans totaled $8.2 million, a decrease of $3.1 million from the prior quarter

◦Net charge-offs as a percentage of average loans outstanding (annualized) was 0.35% in the first quarter of 2025, a decrease of 11 basis points from the previous quarter

“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 Chief Executive Officer. “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.”

Earnings

Net income for the first quarter of 2026 was $37.5 million, or $0.37 per share, compared to $44.9 million, or $0.43 per share in the fourth quarter of 2025 and $32.7 million, or $0.32 per share for the first quarter of 2025.

Net Interest Income and Net Interest Margin

Net interest income (FTE) of $109.3 million decreased $4.2 million from the previous quarter and increased $13.5 million from the prior year quarter. The decrease from the prior quarter was primarily due to a $2.6 million decrease due to less days in the quarter, a $170.1 million decrease in average loans and compression of the net interest margin (NIM).

The NIM for the first quarter of 2026 was 3.92% as compared to 3.98% in the prior quarter and 3.62% in the year ago quarter. The decrease from the prior quarter was primarily due to a nine basis point decrease in the yield on earning assets that was only partially offset by a 5 basis point decrease in the cost of funds.

Total average deposits grew $67.1 million in the first quarter of 2026 as compared to the previous quarter. Average interest-bearing demand and savings deposits grew $91.2 million and average total time deposits increased $13.6 million from the prior quarter. The increase in interest bearing deposits was partially offset by a $37.7 million decrease in average noninterest-bearing deposits.

End of period deposits increased $158.9 million, or 6.3% annualized from the previous quarter, including a $161.0 million increase in savings deposits and a $40.0 million increase in interest-bearing demand deposits, which together offset a $39.5 million decrease in time deposits and a $2.6 million decrease in noninterest-bearing demand deposits.

Asset Quality

Provision for credit losses totaled $10.7 million in the first quarter of 2026 as compared to $7.0 million in the previous quarter. The increase from the previous quarter was primarily driven by a $4.2 million increase in reserves for individually analyzed commercial credits due to $9.6 million of reserves for three commercial credits that were moved to nonaccrual during the quarter.

The allowance for credit losses (ACL) as a percentage of end-of-period loans was 1.37% in the first quarter, which was an increase of 5 basis points from the previous quarter.

At March 31, 2026, nonperforming loans totaled $92.3 million as compared to $91.8 million in the prior quarter and $59.4 million in the first quarter of 2025.

Subsequent to March 31, 2026, two individually analyzed nonaccrual commercial credits with an outstanding balance of $5.6 million with associated reserves of $3.3 million were sold or paid off. This resulted in an additional chargeoff of $0.1 million in April 2026.

Nonperforming loans represented 0.98% of total loans as of March 31, 2026, as compared to 0.94% and 0.65% for the periods ended December 31, 2025, and March 31, 2025, respectively.

At March 31, 2026, criticized loans totaled $284.6 million, an increase of $17.5 million from the previous quarter.

During the first quarter of 2026, net charge-offs were $8.2 million, compared to $11.3 million in the prior quarter and $3.1 million in the first quarter of 2025.

Net charge-offs were 0.35%, 0.46% and 0.14% of average loans (annualized) for the periods ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively.

Noninterest Income and Noninterest Expense

Noninterest income (excluding security gains of $0.2 million in 1Q26 and $0.4 million in 4Q25) of $24.4 million increased $0.1 million from the previous quarter and increased $1.9 million from the first quarter of 2025

The $0.1 million increase from the previous quarter was primarily driven by a $0.4 million increase in insurance and retail brokerage revenue and a $0.3 million increase in gain on sale of mortgage loans, which was partially offset by $0.3 million decrease in card-related interchange income and a $0.3 million decrease in service charges on deposit accounts due to seasonally lower transaction volume and the number of days in the quarter.

Noninterest expense (excluding merger-related expense of $0.1 million in 1Q26 and $0.2 million in 4Q25 and $0.1 million in 1Q25) of $75.5 million increased $1.2 million from the previous quarter and increased $4.3 million from the first quarter of 2025. The $1.2 million increase from the previous quarter was primarily the result of a $0.8 million increase in Pennsylvania shares tax expense due to a tax reimbursement in the previous quarter, a $0.6 million increase in salaries and benefits, a $0.6 million increase in occupancy expense due to a $0.6 million increase in snow removal expense and a $0.3 million increase in the loss on sale or writedown of assets due to a $0.5 million prepayment penalty on the early extinguishment of FHLB borrowings. Partially offsetting these increases was a $0.4 million decrease in other professional fees and a $0.3 million decrease in other operating expenses due to a $0.3 million decrease in travel expenses.

The core efficiency ratio was 55.43% during the first quarter of 2026 as compared to 52.84% in the previous quarter and 59.08% in the first quarter of 2025.

Full time equivalent staff was 1,592, 1,567 and 1,538 at March 31, 2026, December 31, 2025 and March 31, 2025, respectively.

Dividends and Capital

First Commonwealth Financial Corporation declared a common stock quarterly dividend of $0.14 per share, which represents a 3.7% increase from the previous quarter. The cash dividend is payable on May 22, 2026 to shareholders of record as of May 8, 2026. This dividend represents a 3.0% projected annual yield utilizing the April 27, 2026 closing market price of $18.64.

First Commonwealth’s capital ratios for Total, Tier I, Leverage and Common Equity Tier I at March 31, 2026 were 14.9%, 13.2%, 10.9% and 12.5% respectively. First Commonwealth’s current capital levels exceed the fully phased-in Basel III capital requirements issued by U.S. bank regulators.

Conference Call

First Commonwealth will host a quarterly conference call to discuss its financial results for the first quarter of 2026 on Wednesday, April 29, 2026 at 2:00 PM (ET). The call can be accessed by dialing (toll free) 1-888-330-3181 conference ID # 4651379 or through the company’s web page, http://www.fcbanking.com/InvestorRelations. A replay of the call will be available approximately one hour following the conclusion of the conference by dialing 1-800-770-2030 and entering the conference ID # 4651379. A link to the webcast replay will also be accessible on the company’s web.

About First Commonwealth Financial Corporation

First Commonwealth Financial Corporation (NYSE: FCF), headquartered in Indiana, Pennsylvania, is a financial services company with 126 community banking offices in 30 counties throughout western and central Pennsylvania and throughout Ohio, as well as commercial lending operations in Pittsburgh and Harrisburg, Pennsylvania, and Canton, Cleveland, Columbus and Cincinnati, Ohio. The company also operates mortgage offices in Wexford, Pennsylvania, as well as Hudson and Lewis Center, Ohio. First Commonwealth provides a full range of commercial banking, consumer banking, mortgage, equipment finance, wealth management and insurance products and services through its subsidiaries First Commonwealth Bank and First Commonwealth Insurance Agency. For more information about First Commonwealth or to open an account today, please visit www.fcbanking.com.

Forward-Looking Statements

Certain statements contained in this release that are not historical facts may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, notwithstanding that such statements are not specifically identified as such. In addition, certain statements may be contained in our future filings with the Securities and Exchange Commission, in press releases, and in oral and written statements made by us or with our approval that are not statements of historical fact and constitute “forward-looking statements” as well. These statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of words such as “may,” “will,” “should,” “could,” “would,” “plan,” “believe,” “expect,” “anticipate,” “intend,” “estimate” or words of similar meaning. These forward-looking statements are subject to significant risks, assumptions and uncertainties, and could be affected by many factors, including, but not limited to: (1) volatility and disruption in national and international financial markets; (2) the effects of and changes in trade and monetary and fiscal policies and laws, including the interest rate policies of the Federal Reserve Board; (3) inflation, interest rate, commodity price, securities market and monetary fluctuations; (4) the effect of changes in laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) with which First Commonwealth or its customers must comply; (5) the soundness of other financial institutions; (6) political instability; (7) impairment of First Commonwealth’s goodwill or other intangible assets; (8) acts of God or of war or terrorism; (9) the timely development and acceptance of new products and services and perceived overall value of these products and services by users; (10) changes in consumer spending, borrowings and savings habits; (11) changes in the financial performance and/or condition of First Commonwealth’s borrowers; (12) technological changes; (13) acquisitions and integration of acquired businesses; (14) First Commonwealth’s ability to attract and retain qualified employees; (15) changes in the competitive environment in First Commonwealth’s markets and among banking organizations and other financial service providers; (16) the ability to increase market share and control expenses; (17) the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board and other accounting standard setters; (18) the reliability of First Commonwealth’s vendors, internal control systems or information systems; (19) the costs and effects of legal and regulatory developments, the resolution of legal proceedings or regulatory or other governmental inquiries, the results of regulatory examinations or reviews and the ability to obtain required regulatory approvals; and (20) other risks and uncertainties described in this report and in the other reports that we file with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K.

In light of these risks, uncertainties and assumptions, you should not place undue reliance on any forward-looking statements in this release. We undertake no obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Media Relations:

Ron Wahl

Communications and Media Relations

Phone: 724-463-6806

E-mail: RWahl@fcbanking.com

Investor Relations:

Ryan M. Thomas

Vice President / Finance and Investor Relations

Phone: 724-463-1690

E-mail: RThomas1@fcbanking.com

FIRST COMMONWEALTH FINANCIAL CORPORATION

CONSOLIDATED FINANCIAL DATA

Unaudited

(dollars in thousands, except per share data)

For the Three Months Ended

March 31, December 31, March 31,

2026 2025 2025

SUMMARY RESULTS OF OPERATIONS

Net interest income $ 108,974 $ 113,201 $ 95,522

Provision for credit losses 10,733 7,005 5,736

Noninterest income 24,587 24,716 22,502

Noninterest expense 75,595 74,476 71,250

Net income 37,548 44,876 32,696

Core net income (5)

37,459 44,658 32,779

Earnings per common share (diluted) $ 0.37 $ 0.43 $ 0.32

Core earnings per common share (diluted) (6)

$ 0.37 $ 0.43 $ 0.32

KEY FINANCIAL RATIOS

Return on average assets 1.25 % 1.46 % 1.14 %

Core return on average assets (7)

1.24 % 1.45 % 1.14 %

Return on average assets, pre-provision, pre-tax 1.92 % 2.06 % 1.62 %

Core return on average assets, pre-provision, pre-tax 1.92 % 2.05 % 1.63 %

Return on average shareholders' equity 9.75 % 11.49 % 9.28 %

Return on average tangible common equity (8)

13.47 % 15.90 % 13.02 %

Core return on average tangible common equity (9)

13.44 % 15.83 % 13.05 %

Core efficiency ratio (2)(10)

55.43 % 52.84 % 59.08 %

Net interest margin (FTE) (1)

3.92 % 3.98 % 3.62 %

Book value per common share $ 15.27 $ 15.11 $ 14.20

Tangible book value per common share (11)

11.34 11.22 10.44

Market value per common share 17.58 16.86 15.54

Cash dividends declared per common share 0.135 0.135 0.130

ASSET QUALITY RATIOS

Nonperforming loans and leases as a percent of end-of-period loans and leases(3)

0.98 % 0.94 % 0.65 %

Nonperforming assets as a percent of total assets (3)

0.77 % 0.77 % 0.52 %

Net charge-offs as a percent of average loans and leases (annualized) (4)

0.35 % 0.46 % 0.14 %

Allowance for credit losses as a percent of nonperforming loans and leases (4)

141.70 % 137.07 % 201.89 %

Allowance for credit losses as a percent of end-of-period loans and leases (4)

1.37 % 1.32 % 1.32 %

CAPITAL RATIOS

Shareholders' equity as a percent of total assets 12.7 % 12.6 % 12.3 %

Tangible common equity as a percent of tangible assets (12)

9.7 % 9.7 % 9.3 %

Leverage Ratio 10.9 % 10.9 % 10.7 %

Risk Based Capital - Tier I 13.2 % 12.7 % 12.9 %

Risk Based Capital - Total 14.9 % 14.5 % 14.7 %

Common Equity - Tier I 12.5 % 12.1 % 12.2 %

FIRST COMMONWEALTH FINANCIAL CORPORATION

CONSOLIDATED FINANCIAL DATA

Unaudited

(dollars in thousands, except per share data)

For the Three Months Ended

March 31, December 31, March 31,

2026 2025 2025

INCOME STATEMENT

Interest income $ 157,218 $ 163,925 $ 147,128

Interest expense 48,244 50,724 51,606

Net Interest Income 108,974 113,201 95,522

Provision for credit losses 10,733 7,005 5,736

Net Interest Income after Provision for Credit Losses 98,241 106,196 89,786

Net securities gains (losses) 229 425 (5,142)

Gain on sale of VISA — — 5,146

Trust income 3,408 3,379 3,022

Service charges on deposit accounts 5,530 5,828 5,438

Insurance and retail brokerage commissions 3,267 2,886 3,170

Income from bank owned life insurance 1,796 1,725 1,502

Gain on sale of mortgage loans 2,215 1,941 1,387

Gain on sale of other loans and assets 2,182 2,198 1,388

Card-related interchange income 3,661 3,974 3,654

Derivative mark-to-market (6) 25 (153)

Swap fee income 122 26 835

Other income 2,183 2,309 2,255

Total Noninterest Income 24,587 24,716 22,502

Salaries and employee benefits 42,874 42,265 40,415

Net occupancy 5,565 4,981 5,729

Furniture and equipment 4,823 4,994 4,193

Data processing 4,183 4,197 3,817

Pennsylvania shares tax 1,330 483 1,337

Advertising and promotion 1,671 1,687 1,372

Intangible amortization 1,364 1,494 1,131

Other professional fees and services 1,106 1,526 1,620

FDIC insurance 1,589 1,535 1,379

Litigation and operational losses 857 1,080 793

Loss on sale or write-down of assets 567 281 215

Merger and acquisition 117 150 109

Other operating expenses 9,549 9,803 9,140

Total Noninterest Expense 75,595 74,476 71,250

Income before Income Taxes 47,233 56,436 41,038

Income tax provision 9,685 11,560 8,342

Net Income $ 37,548 $ 44,876 $ 32,696

Shares Outstanding at End of Period 101,679,621 102,840,771 101,927,219

Average Shares Outstanding Assuming Dilution 102,394,488 103,643,551 101,859,825

FIRST COMMONWEALTH FINANCIAL CORPORATION

CONSOLIDATED FINANCIAL DATA

Unaudited

(dollars in thousands)

March 31, December 31, March 31,

2026 2025 2025

BALANCE SHEET (Period End)

Assets

Cash and due from banks $ 118,134 $ 103,280 $ 118,792

Interest-bearing bank deposits 224,806 77,082 22,566

Securities available for sale, at fair value 1,071,345 1,052,489 1,186,438

Securities held to maturity, at amortized cost 577,286 519,422 519,029

Loans held for sale 31,638 271,452 41,587

Loans and leases 9,433,825 9,508,039 9,093,140

Allowance for credit losses (129,183) (125,768) (119,931)

Net loans and leases 9,304,642 9,382,271 8,973,209

Goodwill and other intangibles 399,233 400,229 382,514

Other assets 535,488 536,811 542,263

Total Assets $ 12,262,572 $ 12,343,036 $ 11,786,398

Liabilities and Shareholders' Equity

Noninterest-bearing demand deposits $ 2,370,132 $ 2,372,771 $ 2,273,858

Interest-bearing demand deposits (a)

1,835,503 1,795,513 1,835,568

Savings deposits (a)

4,402,789 4,241,762 4,029,705

Time deposits 1,801,469 1,840,923 1,722,526

Total interest-bearing deposits 8,039,761 7,878,198 7,587,799

Total deposits 10,409,893 10,250,969 9,861,657

Short-term borrowings 22,858 147,966 77,515

Long-term borrowings 132,069 261,742 262,679

Total borrowings 154,927 409,708 340,194

Other liabilities 145,055 127,983 137,496

Shareholders' equity 1,552,697 1,554,376 1,447,051

Total Liabilities and Shareholders' Equity $ 12,262,572 $ 12,343,036 $ 11,786,398

(a) Deposits on the above balance sheet for March 31, 2025 reflect a reclassification to interest-bearing deposits from savings deposits in order to remove the impact of an internal sweep program related to regulatory reserve requirements. The internal sweep program was terminated in the second quarter of 2025, therefore prior periods are now shown without the reclassification.

FIRST COMMONWEALTH FINANCIAL CORPORATION

CONSOLIDATED FINANCIAL DATA

Unaudited

(dollars in thousands)

For the Three Months Ended

March 31, Yield/ December 31, Yield/ March 31, Yield/

2026 Rate 2025 Rate 2025 Rate

NET INTEREST MARGIN

Assets

Loans and leases (FTE)(1)(3)

$ 9,566,302 6.03 % $ 9,736,392 6.12 % $ 9,068,872 5.92 %

Interest bearing bank deposits 207,792 3.84 % 48,542 4.48 % 76,836 4.72 %

Securities (FTE)(1)

1,529,772 3.55 % 1,525,296 3.52 % 1,600,047 3.58 %

Total Interest-Earning Assets (FTE) (1)

11,303,866 5.65 % 11,310,230 5.76 % 10,745,755 5.57 %

Noninterest-earning assets 920,940 919,649 934,933

Total Assets $ 12,224,806 $ 12,229,879 $ 11,680,688

Liabilities and Shareholders' Equity

Interest-bearing demand and savings deposits $ 6,145,197 1.95 % $ 6,054,039 2.00 % $ 5,769,898 2.13 %

Time deposits 1,820,411 3.55 % 1,806,856 3.65 % 1,763,492 4.07 %

Short-term borrowings 31,766 2.16 % 55,098 2.64 % 50,725 2.88 %

Long-term borrowings 208,363 5.11 % 261,872 4.92 % 262,809 5.00 %

Total Interest-Bearing Liabilities 8,205,737 2.38 % 8,177,865 2.46 % 7,846,924 2.67 %

Noninterest-bearing deposits 2,339,160 2,376,821 2,252,794

Other liabilities 117,667 125,496 151,957

Shareholders' equity 1,562,242 1,549,697 1,429,013

Total Noninterest-Bearing Funding Sources 4,019,069 4,052,014 3,833,764

Total Liabilities and Shareholders' Equity $ 12,224,806 $ 12,229,879 $ 11,680,688

Net Interest Margin (FTE) (annualized)(1)

3.92 % 3.98 % 3.62 %

FIRST COMMONWEALTH FINANCIAL CORPORATION

CONSOLIDATED FINANCIAL DATA

Unaudited

(dollars in thousands)

March 31, December 31, March 31,

2026 2025 2025

Loan and Lease Portfolio Detail

Commercial Loan and Lease Portfolio:

Commercial, financial, agricultural and other $ 1,315,171 $ 1,351,724 $ 1,276,420

Commercial real estate 3,148,767 3,182,109 3,158,440

Equipment finance loans and leases 746,723 693,265 485,782

Real estate construction 404,394 415,536 478,833

Total Commercial 5,615,055 5,642,634 5,399,475

Consumer Loan Portfolio:

Closed-end mortgages 1,814,512 1,830,470 1,826,760

Home equity lines of credit 537,089 529,815 488,411

Real estate construction 31,843 47,250 9,869

Total Real Estate - Consumer 2,383,444 2,407,535 2,325,040

Auto & RV loans 1,367,360 1,387,195 1,296,567

Direct installment 22,451 23,057 24,962

Personal lines of credit 43,751 45,785 45,079

Student loans 1,764 1,833 2,017

Total Other Consumer 1,435,326 1,457,870 1,368,625

Total Consumer Portfolio 3,818,770 3,865,405 3,693,665

Total Portfolio Loans and Leases 9,433,825 9,508,039 9,093,140

Loans held for sale - individual 31,638 46,071 41,587

Loans held for sale - portfolio — 225,381 —

Total Loans and Leases $ 9,465,463 $ 9,779,491 $ 9,134,727

March 31, December 31, March 31,

2026 2025 2025

ASSET QUALITY DETAIL

Nonperforming Loans and Leases:

Loans and leases on nonaccrual basis $ 50,260 $ 51,151 $ 37,520

Loans and leases on a nonaccrual basis - with government guarantees 27,028 30,325 13,016

Loans held for sale on a nonaccrual basis 1,149 — —

Loans and leases on a nonaccrual basis - acquired 12,844 9,393 8,211

Loans and leases on a nonaccrual basis - acquired with government guarantees 1,032 887 658

Total Nonperforming Loans and Leases $ 92,313 $ 91,756 $ 59,405

Other real estate owned ("OREO") 221 990 1,270

Repossessions ("Repos") 1,328 1,744 621

Total Nonperforming Assets $ 93,862 $ 94,490 $ 61,296

Loans past due in excess of 90 days and still accruing 2,927 1,288 1,156

Classified loans and leases 136,897 139,378 88,929

Criticized loans and leases 284,628 267,164 190,510

Nonperforming assets as a percentage of total loans and leases, plus OREO and Repos (4)

0.99 % 0.99 % 0.67 %

Allowance for credit losses $ 129,183 $ 125,768 $ 119,931

FIRST COMMONWEALTH FINANCIAL CORPORATION

CONSOLIDATED FINANCIAL DATA

Unaudited

(dollars in thousands)

For the Three Months Ended

March 31, December 31, March 31,

2026 2025 2025

Net Charge-offs (Recoveries):

Commercial, financial, agricultural and other $ 3,608 $ 7,152 $ 329

Real estate construction 326 465 —

Commercial real estate 2,268 2,039 1,308

Residential real estate 119 362 (29)

Loans to individuals 1,840 1,254 1,490

Net Charge-offs $ 8,161 $ 11,272 $ 3,098

Net charge-offs as a percentage of average loans and leases outstanding (annualized) (4)

0.35 % 0.46 % 0.14 %

Provision for credit losses as a percentage of net charge-offs 131.52 % 62.15 % 185.15 %

Provision for credit losses $ 10,733 $ 7,005 $ 5,736

DEFINITIONS AND RECONCILIATION OF NON-GAAP MEASURES

Note: Management believes that it is standard practice in the banking industry to present these non-GAAP measures. These measures provide useful information to management and investors by allowing them to make peer comparisons.

(1) Net interest income has been computed on a fully taxable equivalent basis ("FTE") using the federal income tax statutory rate of 21%.

(2) Core efficiency ratio excludes from total revenue the impact of derivative mark-to-market and excludes from "total noninterest expense" the amortization of intangibles and any other unusual items deemed by management to not be related to normal operations, such as merger, acquisition and severance costs.

(3) Includes held for sale loans.

(4) Excludes held for sale loans.

For the Three Months Ended

March 31, December 31, March 31,

2026 2025 2025

Interest income $ 157,218 $ 163,925 $ 147,128

Adjustment to fully taxable equivalent basis (1)

361 355 335

Interest income adjusted to fully taxable equivalent basis (non-GAAP) 157,579 164,280 147,463

Interest expense 48,244 50,724 51,606

Net interest income, (FTE) (1)

$ 109,335 $ 113,556 $ 95,857

FIRST COMMONWEALTH FINANCIAL CORPORATION

CONSOLIDATED FINANCIAL DATA

Unaudited

(dollars in thousands, except per share data)

DEFINITIONS AND RECONCILIATION OF NON-GAAP MEASURES

For the Three Months Ended

March 31, December 31, March 31,

2026 2025 2025

Net Income $ 37,548 $ 44,876 $ 32,696

Intangible amortization 1,364 1,494 1,131

Tax benefit of amortization of intangibles (286) (314) (238)

Net Income, adjusted for tax affected amortization of intangibles $ 38,626 $ 46,056 $ 33,589

Average Tangible Equity:

Total shareholders' equity $ 1,562,242 $ 1,549,697 $ 1,429,013

Less: intangible assets 399,668 400,638 382,919

Tangible Equity 1,162,574 1,149,059 1,046,094

Less: preferred stock — — —

Tangible Common Equity $ 1,162,574 $ 1,149,059 $ 1,046,094

(8)Return on Average Tangible Common Equity

13.47 % 15.90 % 13.02 %

For the Three Months Ended

March 31, December 31, March 31,

2026 2025 2025

Core Net Income:

Total Net Income $ 37,548 $ 44,876 $ 32,696

Net securites gains (229) (425) (4)

Tax benefit of net securities gains 48 89 1

Merger and acquisition related expenses 117 150 109

Tax benefit of merger and acquisition related expenses (25) (32) (23)

(5) Core net income

$ 37,459 $ 44,658 $ 32,779

Average Shares Outstanding Assuming Dilution 102,394,488 103,643,551 101,859,825

(6) Core Earnings per common share (diluted)

$ 0.37 $ 0.43 $ 0.32

Intangible amortization 1,364 1,494 1,131

Tax benefit of amortization of intangibles (286) (314) (238)

Core Net Income, adjusted for tax affected amortization of intangibles $ 38,537 $ 45,838 $ 33,672

(9) Core Return on Average Tangible Common Equity

13.44 % 15.83 % 13.05 %

FIRST COMMONWEALTH FINANCIAL CORPORATION

CONSOLIDATED FINANCIAL DATA

Unaudited

(dollars in thousands, except per share data)

DEFINITIONS AND RECONCILIATION OF NON-GAAP MEASURES

For the Three Months Ended

March 31, December 31, March 31,

2026 2025 2025

Core Return on Average Assets:

Total Net Income $ 37,548 $ 44,876 $ 32,696

Total Average Assets 12,224,806 12,229,879 11,680,688

Return on Average Assets 1.25 % 1.46 % 1.14 %

Core Net Income (5)

$ 37,459 $ 44,658 $ 32,779

Total Average Assets 12,224,806 12,229,879 11,680,688

(7) Core Return on Average Assets

1.24 % 1.45 % 1.14 %

For the Three Months Ended

March 31, December 31, March 31,

2026 2025 2025

Core Efficiency Ratio:

Total Noninterest Expense $ 75,595 $ 74,476 $ 71,250

Adjustments to Noninterest Expense:

Intangible amortization 1,364 1,494 1,131

Merger and acquisition related 117 150 109

Noninterest Expense - Core $ 74,114 $ 72,832 $ 70,010

Net interest income, (FTE) $ 109,335 $ 113,556 $ 95,857

Total noninterest income 24,587 24,716 22,502

Net securities gains (229) (425) (4)

Total Revenue 133,693 137,847 118,355

Adjustments to Revenue:

Derivative mark-to-market (6) 25 (153)

Total Revenue - Core $ 133,699 $ 137,822 $ 118,508

(10)Core Efficiency Ratio

55.43 % 52.84 % 59.08 %

FIRST COMMONWEALTH FINANCIAL CORPORATION

CONSOLIDATED FINANCIAL DATA

Unaudited

(dollars in thousands)

DEFINITIONS AND RECONCILIATION OF NON-GAAP MEASURES

March 31, December 31, March 31,

2026 2025 2025

Tangible Equity:

Total shareholders' equity $ 1,552,697 $ 1,554,376 $ 1,447,051

Less: intangible assets 399,233 400,229 382,514

Tangible Equity 1,153,464 1,154,147 1,064,537

Less: preferred stock — — —

Tangible Common Equity $ 1,153,464 $ 1,154,147 $ 1,064,537

Tangible Assets:

Total assets $ 12,262,572 $ 12,343,036 $ 11,786,398

Less: intangible assets 399,233 400,229 382,514

Tangible Assets $ 11,863,339 $ 11,942,807 $ 11,403,884

(12)Tangible Common Equity as a percentage of Tangible Assets

9.72 % 9.66 % 9.33 %

Shares Outstanding at End of Period 101,679,621 102,840,771 101,927,219

(11)Tangible Book Value Per Common Share

$ 11.34 $ 11.22 $ 10.44

For the Three Months Ended

March 31, December 31, March 31,

2026 2025 2025

Pre-tax pre-provision net revenue:

Net interest income $ 108,974 $ 113,201 $ 95,522

Noninterest income 24,587 24,716 22,502

Noninterest expense 75,595 74,476 71,250

Pre-tax pre-provision net revenue $ 57,966 $ 63,441 $ 46,774

Net securites gains $ (229) $ (425) $ (4)

Merger and acquisition related expenses 117 150 109

Core pre-tax pre-provision net revenue $ 57,854 $ 63,166 $ 46,879

Net charge-offs $ 8,161 $ 11,272 $ 3,098

GRAPHIC

Filename: fcfimagea01.jpg · Sequence: 7

Binary file (34385 bytes)

Download fcfimagea01.jpg

XML — IDEA: XBRL DOCUMENT

XML

Filename: R1.htm · Sequence: 9

v3.26.1

Document and Entity Information Document and Entity Information

Apr. 28, 2026

Document Information [Line Items]

Entity Incorporation, State or Country Code

Amendment Flag

false

Entity Registrant Name

FIRST COMMONWEALTH FINANCIAL CORP /PA/

Document Fiscal Year Focus

2026

Entity Address, State or Province

Entity File Number

001-11138

Entity Tax Identification Number

25-1428528

Document Type

8-K

Entity Address, Address Line One

601 Philadelphia Street

Entity Address, City or Town

Indiana,

Entity Address, Postal Zip Code

15701

Document Period End Date

Apr. 28, 2026

City Area Code

724

Local Phone Number

349-7220

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Entity Emerging Growth Company

false

Document Fiscal Period Focus

Entity Central Index Key

0000712537

Title of 12(b) Security

Common Stock, $1.00 par value

Trading Symbol

FCF

Security Exchange Name

NYSE

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Fiscal period values are FY, Q1, Q2, and Q3. 1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.

+ References

No definition available.

+ Details

Name:

dei_DocumentFiscalPeriodFocus

Namespace Prefix:

dei_

Data Type:

dei:fiscalPeriodItemType

Balance Type:

Period Type:

duration

- Definition

This is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.

+ References

No definition available.

+ Details

Name:

dei_DocumentFiscalYearFocus

Namespace Prefix:

dei_

Data Type:

xbrli:gYearItemType

Balance Type:

Period Type:

duration

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:

dei_DocumentInformationLineItems

Namespace Prefix:

dei_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration

- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration