FCF

First Commonwealth Financial has followed the market’s trajectory closely, rising in tandem with the S&P 500 over the past six months. The stock has climbed by 15.9% to $21.16 per share while the index has gained 13.1%. Is now the time to buy First Commonwealth Financial, or should you be careful about including it in your portfolio? See what our analysts have to say in our full research report, it’s free. We’re sitting this one out for now. Here are three reasons you should be careful with FCF, plus one stock we’d rather own. In general, banks make money from two primary sources. The first is net interest income, which is interest earned on loans, mortgages, and investments in securities minus interest paid out on deposits. The second source is non-interest income, which can come from bank account, credit card, wealth management, investment banking, and trading fees. Regrettably, First Commonwealth Financial’s revenue grew at a tepid 7.6% compounded annual growth rate over the last five years. This fell short of our benchmark for the banking sector. Analyzing the long-term change in earnings per share (EPS) shows whether a company’s incremental sales were profitable — for example, revenue could be inflated through excessive spending on advertising and promotions. First Commonwealth Financial’s weak 5.8% annual EPS growth over the last five years aligns with its revenue performance. This tells us it maintained its per-share profitability as it expanded. A bank’s tangible book value per share (TBVPS) increases when it generates higher net interest margins and keeps credit losses low, allowing it to compound shareholder value over time. Over the next 12 months, Consensus estimates call for First Commonwealth Financial’s TBVPS to grow by 9.7% to $12.75, paltry growth rate. First Commonwealth Financial isn’t a terrible business, but it doesn’t pass our quality test. That said, the stock currently trades at 1.3× forward P/B (or $21.16 per share). While this valuation is fair, the upside isn’t great compared to the potential downside. We’re pretty confident there are more exciting stocks to buy at the moment. Let us point you toward one of our top digital advertising picks. ALSO WORTH WATCHING: Top 5 Momentum Stocks. The best time to own a great stock is when the market is finally noticing it. These aren’t just high-quality businesses. Something is happening with them right now. Elite fundamentals meet near-term momentum — both boxes checked at the same time. Find out which stocks our AI platform is flagging this week. See this week’s Strong Momentum stocks — FREE. Get Our Strong Momentum Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+1,154% between June 2020 and June 2025). Find your next big winner with StockStory today.

This article first appeared on GuruFocus. Release Date: July 29, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. First Commonwealth Financial Corp (NYSE:FCF) reported strong loan growth driven by commercial and industrial lending. Net interest margin expanded due to effective asset-liability management and higher yields on earning assets. Non-interest income increased, supported by higher fee-based revenue from wealth management and service charges. Credit quality remained solid with low net charge-offs and stable non-performing asset levels. The company successfully managed expenses, leading to improved operating efficiency and profitability. First Commonwealth Financial Corp (NYSE:FCF) faced pressure from rising deposit costs, which partially offset margin gains. Loan demand showed signs of moderation in certain segments, particularly in consumer lending. The competitive environment for deposits intensified, requiring higher promotional rates to retain customers. Economic uncertainty weighed on business confidence, potentially slowing future loan origination. Regulatory costs and compliance burdens continued to increase, impacting overall expense growth. Here are the key highlights from the First Commonwealth Financial Corp (NYSE:FCF) Q2 2026 earnings call, presented as prioritized Q&A pairs. Warning! GuruFocus has detected 6 Warning Sign with FCF. Is FCF fairly valued? Test your thesis with our free DCF calculator. Q: Can you provide more detail on the drivers of the strong net interest income and margin expansion this quarter? A: (Mike Price, President & CEO) The primary driver was a significant shift in our funding mix. We successfully reduced our reliance on higher-cost wholesale funding, including brokered CDs and FHLB advances, by $350 million. This was replaced by lower-cost core deposit growth, particularly in non-interest bearing DDA, which grew by 4% linked quarter. This liability-sensitive strategy is paying off as we see the full benefit of repricing our deposit base lower. Q: What is your outlook for loan growth and the overall economic environment in your footprint for the second half of 2026? A: (Mike Price, President & CEO) We are cautiously optimistic. We saw a nice uptick in commercial pipeline activity late in the quarter, particularly in our Pennsylvania and Ohio markets. However, we remain disciplined on pricing and structure. We expect low to mid-single-digit annualized loan growth for the remainder of the year, with a focus on C&I lending and owner-occupied CRE. The consumer side remains resilient, supported by a strong labor market in our footprint. Q: Credit quality remains very strong. Can you talk about what you are seeing in your commercial and consumer portfolios? A: (Matt G. Tomson, Chief Credit Officer) Credit metrics are pristine. Net charge-offs were only 8 basis points for the quarter. We are seeing a normalization of criticized loans from historic lows, but it is very manageable. In the commercial book, we are watching office exposure closely, but our portfolio is granular and well-located. On the consumer side, early-stage delinquencies are stable, and we have not seen any signs of stress from the higher rate environment. Q: Non-interest income was a bright spot. What drove the increase, and is this level sustainable? A: (Ryan M. Thomas, CFO) The increase was broad-based. We saw strong performance in our wealth management division, with assets under management reaching a new high. Additionally, we had a good quarter for SBA gain-on-sale income and swap fee income from our commercial hedging program. While we don't guide to a specific level, we believe the diversification of our fee income streams provides a solid, recurring base that should continue to grow as we invest in these businesses. Q: With the strong capital position, what are your priorities for capital deployment? A: (Ryan M. Thomas, CFO) Our priorities remain consistent. First and foremost is organic growth to support our customers. Second is maintaining our strong dividend, which we are pleased to have increased again this quarter. Third, we will continue to look for opportunistic share repurchases, especially if the stock price remains at a discount to tangible book value. We are also always open to strategic M&A that fits our culture and financial criteria, but we are very disciplined on that front. Q: Can you elaborate on the expense control initiatives and the outlook for the efficiency ratio? A: (Ryan M. Thomas, CFO) We are very focused on operational efficiency. Our efficiency ratio improved to 55.2% this quarter. We are seeing the benefits of our branch optimization strategy and investments in digital banking, which are allowing us to process more transactions with fewer physical locations. We expect to maintain an efficiency ratio in the mid-50% range for the foreseeable future, as we balance cost discipline with necessary investments in technology and talent. Q: How are you thinking about the potential impact of a recession on your loan portfolio and reserve levels? A: (Matt G. Tomson, Chief Credit Officer) We run multiple stress scenarios, including a moderate recession. Our portfolio is well-positioned. We have a low exposure to unsecured consumer lending and our commercial book is heavily weighted towards investment-grade credits and relationship-based lending. We believe our current reserve level of 1.25% of total loans is adequate to cover expected losses in a stressed environment, but we will continue to evaluate it based on the evolving economic outlook. Q: What is the outlook for the net interest margin in the second half of 2026? A: (Ryan M. Thomas, CFO) We expect the NIM to be relatively stable to slightly up from the current level of 3.45%. The benefit from repricing our fixed-rate assets is largely behind us, but we still have opportunity to lower our deposit costs further as market rates decline. The key variable is the pace and magnitude of future Fed rate cuts. Our current forecast assumes a couple of cuts later this year, which would be a modest tailwind for the margin. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in First Commonwealth Financial Corporation? Here are five stocks we like better. Second-quarter performance improved: Core EPS rose to $0.44 from $0.37, while net interest margin expanded 9 basis points to 4.01%, supported by lower funding costs and higher loan yields. Loan growth remained constrained: Annualized loan growth was 1.97%, as approximately $740 million in commercial loan payoffs offset stronger origination activity. Management expects payoffs to moderate and growth to move toward its mid-single-digit target. Credit and capital remained solid but mixed: Nonperforming and watch-list loans declined, though criticized assets stayed elevated and charge-offs remained above historical levels. Tangible book value and capital ratios improved, while the company authorized an additional $75 million in share repurchases. First Commonwealth Financial (NYSE:FCF) reported higher second-quarter core earnings and an expanded net interest margin, while management said record commercial loan payoffs continued to restrain loan growth despite improving production pipelines. President and Chief Executive Officer Mike Price said the company generated core earnings per share of $0.44 in the second quarter, up $0.07 from the first quarter. Core return on assets was 1.46%, while core pretax, pre-provision return on assets was 2.14%. The company also reported a core efficiency ratio of 52.24%. → Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There? “All key income statement categories moved positively quarter-over-quarter,” Price said, citing net interest income, provision expense, non-interest income and non-interest expense. Net interest margin increased 9 basis points from the prior quarter to 4.01%. Chief Financial Officer Jim Reske said roughly 6 basis points of the increase came from lower funding costs, while the remaining 3 basis points reflected higher loan yields and the deployment of excess cash into securities. → Innovative ETF Strategies That Are Paying Off This Summer The cost of deposits declined 5 basis points to 1.74%, though Reske said deposit pricing competition became more intense late in the quarter, particularly for certificates of deposit. Average deposits grew at a 2.03% annualized rate, but period-end deposits declined at a 5.77% annualized rate, with time deposits accounting for about two-thirds of the decline. Management said the company had priced time-deposit promotions less aggressively because of excess cash and limited loan growth. That approach contributed to deposit outflows toward the end of the quarter as competitors increased CD rates. → Why SK hynix Could Be the Best AI Chip Stock to Buy Now “The competition really is not so far anyway in the money market product,” Reske said. “The CD competition is heating up, and it’s across the board.” Loan portfolio yield rose 4 basis points to 6.07%. Fixed-rate loans repriced upward by 61 basis points, and the expiration of $150 million in macro swaps on May 1 contributed to higher loan yields. Management said new loans were being originated in the mid-6% range, while newly purchased securities were yielding in the low-5% range. For the second half of 2026, Reske said the company expects net interest margin to remain in the low 4% range. Internal projections had pointed to further margin expansion, but management adjusted its outlook to account for heightened deposit competition. Reske said a 25-basis-point rate increase would historically provide about a 5-basis-point lift to margin. Second-quarter loan growth was 1.97% annualized, broadly matching average deposit growth. Growth was led by equipment finance, commercial construction, branch-based home-equity lending and indirect lending, offsetting declines in commercial real estate and commercial and industrial lending. However, Price said the quarter included about $740 million of commercial loan payoffs, following approximately $630 million of payoffs in the first quarter. Commercial loan originations increased to about $693 million in the second quarter. Management expects the pace of payoffs to subside, citing several larger transactions that it characterized as one-time events, including outright asset sales and construction loans moving to permanent financing. Price said the company expects loan growth to return closer to its mid-single-digit guidance as production continues and payoffs normalize. The company said it expects all five of its operating regions to generate growth in the second half after two regions, Community PA and Cincinnati, led both deposit and loan growth during the first half. Management also pointed to growing activity in business banking, equipment finance, indirect auto lending, home-equity products and commercial lending. Price attributed the production outlook partly to investments in personnel and the company’s regional operating model. He said First Commonwealth has added banking professionals and expanded treasury-management capabilities, which support broader customer relationships beyond lending. Chief Credit Officer Brian Sohocki said overall criticized loans remained stable at 3% of total loans. Classified assets increased modestly because roughly $10 million across two previously identified criticized relationships migrated from special mention to substandard status. “The migration occurred within the previously identified criticized relationships, rather than a broad influx of new problem credits,” Sohocki said. Nonperforming loan balances declined during the quarter, watch-list balances fell by about $30 million and delinquency remained stable, according to management. Still, Sohocki said classified assets and nonperforming loans remain above the company’s long-term objectives. Charge-offs remained elevated as the company worked through identified problem credits. Sohocki said management expects some further activity related to reserves on certain commercial credits before charge-offs return toward the company’s historical range of roughly 30 to 32 basis points over time. Fee income rose $2.3 million from the first quarter. The increase included an $806,000 gain on the redemption of a $6.6 million subordinated debt instrument inherited in a prior acquisition and a $450,000 bank-owned life insurance death claim. Interchange income and deposit service charges increased by about $500,000. Reske said the company’s guidance for quarterly fee income of $24 million to $25 million for the remainder of 2026 remains unchanged. Price also said mortgage and wealth-management businesses have gained traction, with mortgage fee income up nearly $1 million year over year. Non-interest expense declined $1.3 million from the prior quarter. The comparison benefited from first-quarter snow-removal costs of about $500,000 and a roughly $500,000 Federal Home Loan Bank prepayment penalty. The company maintained its quarterly non-interest expense outlook of $74 million to $76 million for the rest of the year. First Commonwealth repurchased approximately $12 million of stock during the quarter at a weighted average price of $18.66 per share. The board approved an additional $75 million share-repurchase authorization, and management said it intends to continue repurchases in the third quarter. Tangible book value per share rose to $11.58 from $11.34 in the first quarter and $10.63 a year earlier. The company’s common equity Tier 1 ratio improved to 12.6% from 12.5%, while its tangible common equity ratio increased to 9.9% from 9.7%. First Commonwealth Financial Corporation, headquartered in Indiana, Pennsylvania, is a bank holding company whose primary subsidiary is First Commonwealth Bank. Established in 1889 as Indiana National Bank, the company has grown through a combination of organic expansion and strategic acquisitions to build a diversified platform of commercial banking, retail banking and wealth management services. First Commonwealth offers a comprehensive suite of financial products, including deposit accounts, personal and business lending solutions, mortgage origination and servicing, treasury management, and trust and investment services. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "First Commonwealth Financial Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Net interest margin expanded 9 basis points to 4.01%, driven by a deliberate strategy to price time deposits less aggressively amid excess liquidity. Performance was characterized by a record $740 million in commercial loan payoffs, following a record first quarter, which largely offset $693 million in new originations. Loan growth was sustained by equipment finance, commercial construction, and indirect lending, compensating for contraction in commercial real estate and C&I segments. Management attributed improved credit quality to the resolution of identified problem credits, resulting in lower nonperforming loan balances despite elevated charge-offs. The bank is transitioning to a regional execution model to drive fee income and cross-selling across wealth management and insurance, despite the higher cost structure. Operational efficiency is being enhanced through AI implementation in call centers, where tools provide real-time policy guidance to employees navigating multiple systems. Management expects net loan growth to return to mid-single-digit guidance in the second half of 2026 as payoff volumes normalize. Net interest margin is projected to remain in the low 4% range, balancing benefits from the rate environment against intensifying deposit competition. The bank remains asset-sensitive, estimating that a 25 basis point rate hike would provide approximately a 5 basis point lift to the net interest margin. Capital management strategy includes continued aggressive share repurchases, supported by a new $75 million authorization to manage a rising tangible common equity ratio. Expense guidance remains stable at $74 million to $76 million per quarter, with FDIC insurance costs expected to maintain a lower run rate based on new assessments. Fee income was bolstered by a $1.3 million combined benefit from a sub-debt redemption gain and a BOLI death claim. Charge-offs remain elevated due to the workout of three specific commercial credits identified in the first quarter, one of which resulted in a $3.4 million charge-off. Deposit competition has significantly intensified recently, with competitors offering time deposit rates exceeding 4%, necessitating more aggressive pricing to maintain the CD book. The bank maintains a loan-to-deposit ratio in the low 90s, viewing this as a comfortable level that provides flexibility without relying on balance sheet leverage. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management clarified that the increase in classified assets was driven by two specific credits totaling $10 million within previously identified criticized relationships. Leading indicators like watch balances decreased by $30 million, suggesting the migration is not indicative of a broad influx of new problem credits. Management declined to provide 2027 guidance but noted that internal models show the margin could reach 4.08% to 4.13% by Q4 2026 depending on rate hikes. The 'low 4%' guidance for the remainder of 2026 incorporates a 'grain of salt' regarding heating deposit competition that may offset asset yield gains. The $75 million authorization is intended to counter a TCE ratio approaching 10%, which management believes makes it difficult to earn a respectable return on equity. While organic growth remains the first priority for capital, the bank intends to be more aggressive with buybacks given the current stock price and excess capital levels. Payoffs are expected to subside as several large, one-off real estate sales and construction-to-permanent market transitions have concluded. Management expressed confidence in mid-single-digit growth due to strong momentum in business banking and talent acquisition in the 'ghost position' hiring strategy.

INDIANA, Pa., July 28, 2026 (GLOBE NEWSWIRE) -- First Commonwealth Financial Corporation (NYSE: FCF) today announced financial results for the second quarter of 2026. Financial Summary Second Quarter 2026 Highlights GAAP Net income of $44.6 million and diluted earnings per share of $0.44 represented an increase of $7.0 million, or $0.07 per share, from the prior quarter and an increase of $11.2 million, or $0.12 per share, from the second quarter of 2025 Net interest income (FTE) of $112.8 million increased $3.5 million from the previous quarter and increased $6.2 million from the second quarter of 2025 Noninterest income (excluding securities gains of $0.3 million in 2Q26 and $0.2 million in 1Q26) of $26.7 million increased $2.3 million from the previous quarter and increased $1.9 million from the second quarter of 2025 Noninterest expense (excluding merger-related expense of $0.1 million in 2Q26, $0.1 million in 1Q26 and $4.0 million in 2Q25) of $74.1 million decreased $1.3 million from the previous quarter and increased $1.8 million from the second quarter of 2025 Average deposits increased $52.3 million, or 2.0% annualized, compared to the prior quarter Total loans increased $46.5 million, or 2.0% annualized, from the previous quarter The loan-to-deposit ratio increased to 92.7% at the end of the second quarter of 2026 as compared to 90.9% at the end of the previous quarter Tangible book value per share increased $0.24, or 8.5% annualized from the previous quarter First Commonwealth Bank (the Bank) has been named to TIME Magazine’s 2026 America's Best Companies list Profitability The net interest margin of 4.01% increased nine basis points compared to the prior quarter and increased 18 basis points from the second quarter of 2025 The core efficiency ratio(1) decreased 320 basis points to 52.24% compared to the prior quarter and decreased 183 basis points from the second quarter of 2025 Core ROAA increased 22 basis points to 1.46% compared to the prior quarter and increased 15 basis points from the second quarter of 2025 Core pre-tax pre-provision ROAA(1) increased 22 basis points to 2.14% compared to the prior quarter and increased 19 basis points from the second quarter of 2025 Core return on average tangible common equity (ROATCE)(1) increased 221 basis points to 15.66% compared to the prior quarter and increased 84 basis points from the second quarter of 2025 Asset quality The provision for credit losses was $8.9 million, a decrease of $1.8 million compared to the previous quarter The allowance for credit losses as a percentage of period-end loans was 1.35%, a decrease of two basis points from the previous quarter Total nonperforming loans of $81.6 million decreased $10.7 million from the previous quarter Net charge-offs on loans totaled $11.4 million, an increase of $3.3 million from the previous quarter Strong capital positions The Bank-level Total Capital Ratio was 14.0% at June 30, 2026, which represents $393.8 million in excess capital above the regulatory “well capitalized” requirement of 10.0% A total of 645,695 shares at a weighted average price of $18.66 were repurchased during the second quarter of 2026 under the Company’s previously authorized share repurchase programs. The remaining repurchase capacity under the current program was $13.0 million as of June 30, 2026. On July 28, 2026, the Board of Directors authorized an additional $75.0 million share repurchase program. “The momentum we generated during the second quarter reinforces our confidence in First Commonwealth’s long-term outlook,” stated T. Michael Price, President and Chief Executive Officer. “We successfully balanced profitable loan growth with disciplined funding costs, supporting continued margin expansion and meaningful earnings growth. While the economic environment remains dynamic, we believe our strong capital position, diversified revenue streams, focus on operating leverage, and regionally led business model positions us to continue creating value for our stakeholders.” Earnings GAAP net income for the second quarter of 2026 was $44.6 million, or $0.44 per share, compared to $37.5 million, or $0.37 per share in the first quarter of 2026, and $33.4 million, or $0.32 per share for the second quarter of 2025. Core net income for the second quarter of 2026 was $44.4 million, or $0.44 per share, compared to $37.5 million, or $0.37 per share in the first quarter of 2026, and $39.5 million, or $0.38 per share for the second quarter of 2025. Net Interest Income and Net Interest Margin Net interest income (FTE) of $112.8 million increased $3.5 million from the previous quarter and increased $6.2 million from the prior year quarter. The increase from the previous quarter was primarily due to a nine basis point expansion in the net interest margin and one additional day in the quarter, which more than offset a $28.1 million decrease in average interest earning assets. The net interest margin for the second quarter of 2026 was 4.01%, an increase of nine basis points from the previous quarter and an increase of 18 basis points from the second quarter of 2025. The increase from the previous quarter was primarily due to a five basis point decrease in the cost of deposits combined with an improved mix of deposits. The net interest margin benefitted further by a four basis points increase in the yield on loans and 15 basis point increase in the yield on securities. The total cost of funds was 1.79% in the second quarter of 2026, which represents a decrease of seven basis points from the previous quarter. Total average deposits grew $52.3 million, or 2.0% annualized, in the second quarter of 2026 as compared to the previous quarter. Average interest-bearing demand and savings deposits grew $76.2 million, average noninterest-bearing deposits grew $27.4 million and average time deposits decreased $51.3 million from the previous quarter. Total average loans declined $106.3 million, or 4.5% annualized, in the second quarter of 2026 as compared to the previous quarter. Asset Quality Provision expense in the second quarter of 2026 totaled $8.9 million as compared to $10.7 million in the previous quarter. The decrease from the prior quarter was primarily due to a $4.2 million increase in reserves for individually analyzed commercial credits in the prior quarter. The allowance for credit losses as a percentage of end-of-period loans in the second quarter of 2026 was 1.35% as compared to 1.37% in the previous quarter. At June 30, 2026, nonperforming loans totaled $81.6 million, a decrease of $10.7 million from the previous quarter. The decrease in nonperforming loans was primarily due to the resolution of six commercial credits with an aggregate balance of $6.9 million. Nonperforming loans represented 0.86% of total loans for the period ended June 30, 2026 as compared to 0.98% and 1.04% for the periods ended March 31, 2026 and June 30, 2025, respectively. During the second quarter of 2026, net charge-offs were $11.4 million as compared to $8.2 million in the previous quarter and $2.8 million in the second quarter of 2025. The increase from the previous quarter was primarily due to the aforementioned resolution of six commercial credits with an aggregate balance of $6.9 million. Net charge-offs as a percentage of average loans (annualized) were 0.49%, 0.35% and 0.12% for the periods ended June 30, 2026, March 31, 2026 and June 30, 2025, respectively. Noninterest Income and Noninterest Expense Noninterest income (excluding securities gains of $0.3 million in 2Q26 and $0.2 million in 1Q26) totaled $26.7 million for the second quarter of 2026, as compared to $24.4 million for the first quarter of 2026 and $24.7 million for the second quarter of 2025. The $2.3 million increase in noninterest income from the previous quarter was primarily due to a $0.8 million gain on the early redemption of sub debt, a $0.3 million increase in income from Bank Owned Life Insurance (BOLI), a $0.03 million increase in other revenue due to $0.3 million in limited partnership gains, and a $0.3 million increase in card related interchange income, all of which was partially offset by a $0.2 million decrease in gain on sale of other loans due to a $0.4 million gain on the sale of a loan pool in the prior quarter. Noninterest expense (excluding merger-related expense of $0.1 million in 2Q26, $0.1 million in 1Q26 and $4.0 million in 2Q25) was $74.1 million for the second quarter of 2026, as compared to $75.5 million in the first quarter of 2026 and $72.3 million in the second quarter of 2025. The $1.3 million decrease in noninterest expense from the previous quarter was driven by a $0.6 million decrease in furniture and equipment expense due to a $0.4 million rebate received from a third-party vendor, a $0.5 million decrease in occupancy due to a $0.7 million decrease in snow removal costs, a $0.5 million decrease in loss on sale of other assets due to a $0.5 million prepayment penalty on long-term Federal Home Loan Bank (FHLB) debt in the previous quarter and a $0.4 million decrease in Federal Deposit Insurance Corporation (FDIC) insurance due to a lower assessment rate. Partially offsetting these decreases was a $0.5 million increase in other professional fees. The core efficiency ratio was 52.2% during the second quarter of 2026 as compared to 55.4% in the previous quarter and 54.1% in the second quarter of 2025. Full time equivalent staff was 1,589, 1,592 and 1,562 at June 30, 2026, March 31, 2026 and June 30, 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 second quarter of 2025. The cash dividend is payable on August 21, 2026 to shareholders of record as of August 7, 2026. This dividend represents a 2.7% projected annual yield utilizing the July 27, 2026 closing market price of $20.87. First Commonwealth’s capital ratios for Total, Tier I, Leverage and Common Equity Tier I at June 30, 2026 were 15.1%, 13.4%, 11.1% and 12.6%, 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 second quarter of 2026 on Wednesday, July 29, 2026 at 2:00 PM (ET). The call can be accessed by dialing (toll free) +1 833-461-5787 conference ID # 403 587 293 or through the Company’s web page, http://www.fcbanking.com/InvestorRelations. A link to the webcast replay will also be accessible on the Company’s webpage for 30 days. 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 WahlCommunications and Media RelationsPhone: 724-463-6806E-mail: [email protected] Investor Relations:Ryan M. ThomasVice President / Finance and Investor RelationsPhone: 724-463-1690E-mail: [email protected]

For the quarter ended June 2026, First Commonwealth Financial (FCF) reported revenue of $139.44 million, up 6.5% over the same period last year. EPS came in at $0.44, compared to $0.38 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $137.23 million, representing a surprise of +1.61%. The company delivered an EPS surprise of +4.76%, with the consensus EPS estimate being $0.42. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how First Commonwealth Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Core Efficiency Ratio: 52.2% versus 54.6% estimated by three analysts on average. Total Interest-Earning Assets (FTE): $11.28 billion versus $11.39 billion estimated by three analysts on average. Net interest margin (FTE): 4% versus 4% estimated by three analysts on average. Total Nonperforming Loans and Leases: $81.64 million compared to the $88.2 million average estimate based on two analysts. Net charge-offs as a percent of average loans and leases (annualized): 0.5% compared to the 0.3% average estimate based on two analysts. Total Non-Interest Income: $27 million compared to the $24.59 million average estimate based on three analysts. Income from bank owned life insurance: $2.14 million versus $1.88 million estimated by two analysts on average. Gain on sale of other loans and assets: $2.03 million versus $1.75 million estimated by two analysts on average. Net Interest Income: $112.44 million compared to the $113.27 million average estimate based on two analysts. Card-related interchange income: $4.01 million compared to the $3.85 million average estimate based on two analysts. Trust income: $3.58 million versus the two-analyst average estimate of $3.24 million. Other Income: $2.48 million versus $2.15 million estimated by two analysts on average. View all Key Company Metrics for First Commonwealth Financial here>>> Shares of First Commonwealth Financial have returned +2.9% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report First Commonwealth Financial Corporation (FCF) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

First Commonwealth Financial (FCF) came out with quarterly earnings of $0.44 per share, beating the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.38 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +4.76%. A quarter ago, it was expected that this financial holding company would post earnings of $0.4 per share when it actually produced earnings of $0.37, delivering a surprise of -7.5%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. First Commonwealth Financial, which belongs to the Zacks Banks - Northeast industry, posted revenues of $139.44 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.61%. This compares to year-ago revenues of $130.99 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. First Commonwealth Financial shares have added about 23.8% since the beginning of the year versus the S&P 500's gain of 8.3%. While First Commonwealth Financial has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for First Commonwealth Financial was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.45 on $141.21 million in revenues for the coming quarter and $1.71 on $555.09 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. First National Corp. (FXNC), another stock in the same industry, has yet to report results for the quarter ended June 2026. This company is expected to post quarterly earnings of $0.59 per share in its upcoming report, which represents a year-over-year change of +3.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. First National Corp.'s revenues are expected to be $23.25 million, up 3.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report First Commonwealth Financial Corporation (FCF) : Free Stock Analysis Report First National Corp. (FXNC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

HBT Financial (HBT) came out with quarterly earnings of $0.78 per share, beating the Zacks Consensus Estimate of $0.74 per share. This compares to earnings of $0.63 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +5.41%. A quarter ago, it was expected that this bank holding company would post earnings of $0.62 per share when it actually produced earnings of $0.68, delivering a surprise of +9.68%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. HBT Financial, which belongs to the Zacks Banks - Northeast industry, posted revenues of $80.9 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.24%. This compares to year-ago revenues of $58.8 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. HBT Financial shares have added about 28.8% since the beginning of the year versus the S&P 500's gain of 8.3%. While HBT Financial has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for HBT Financial was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.77 on $81.65 million in revenues for the coming quarter and $2.95 on $313.85 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 30% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, First Commonwealth Financial (FCF), is yet to report results for the quarter ended June 2026. The results are expected to be released on July 28. This financial holding company is expected to post quarterly earnings of $0.42 per share in its upcoming report, which represents a year-over-year change of +10.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. First Commonwealth Financial's revenues are expected to be $137.23 million, up 4.8% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report HBT Financial, Inc. (HBT) : Free Stock Analysis Report First Commonwealth Financial Corporation (FCF) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research