First Commonwealth Financial Corporation

11/06/2026 | Press release | Distributed by Public on 11/06/2026 16:07

Quarterly Report for Quarter Ending September 30, 2026 (Form 10-Q)

Management's Discussion and Analysis of Financial Condition and Results of Operations (Continued)
FIRST COMMONWEALTH FINANCIAL CORPORATION AND SUBSIDIARIES
tier I risk-based capital as set forth in the table below:
Actual Minimum Capital Required Required to be Considered Well Capitalized
Capital
Amount 		Ratio Capital
Amount 		Ratio Capital
Amount 		Ratio
(dollars in thousands)
Total Capital to Risk Weighted Assets
First Commonwealth Financial Corporation $ 1,436,124 14.32 % $ 1,052,779 10.50 % $ 1,002,646 10.00 %
First Commonwealth Bank 1,329,425 13.29 1,050,306 10.50 1,000,291 10.00
Tier I Capital to Risk Weighted Assets
First Commonwealth Financial Corporation $ 1,261,071 12.58 % $ 852,249 8.50 % $ 802,117 8.00 %
First Commonwealth Bank 1,154,663 11.54 850,248 8.50 800,233 8.00
Tier I Capital to Average Assets
First Commonwealth Financial Corporation $ 1,261,071 10.61 % $ 475,574 4.00 % $ 594,468 5.00 %
First Commonwealth Bank 1,154,663 9.73 474,475 4.00 593,094 5.00
Common Equity Tier I to Risk Weighted Assets
First Commonwealth Financial Corporation $ 1,191,071 11.88 % $ 701,853 7.00 % $ 651,720 6.50 %
First Commonwealth Bank 1,154,663 11.54 700,204 7.00 650,189 6.50
On October 27, 2026, First Commonwealth Financial Corporation declared a quarterly dividend of $0.14 per share payable on November 20, 2026 to shareholders of record as of November 6, 2026. The timing and amount of future dividends are at the discretion of First Commonwealth's Board of Directors based upon, among other factors, capital levels, asset quality, liquidity and current and projected earnings.
On October 27, 2026, the Company announced that its Board of Directors authorized an additional $25.0 million share
repurchase program of the Company's common stock. Under the program, management is authorized to repurchase shares
through Rule 10b5-1 plans, open market purchases, privately negotiated transactions, block purchases or otherwise in a
manner that is intended to comply with applicable federal securities laws, including Rule 10b-18 of the Securities Exchange
Act of 1934. The Company may suspend or discontinue the program at any time.
New Accounting Pronouncements
In November 2024, Accounting Standards Update 2024-03 ("ASU 2024-03"), "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures" (Subtopic 220-40) was issued. ASU 2024-03 requires disaggregated disclosure of income statement expenses for public business entities. ASU 2024-03 requires new financial statement disclosures in tabular format, disaggregating information about prescribed categories underlying any relevant income statement expense caption. The prescribed categories include, among other things, employee compensation, depreciation, and intangible asset amortization. Additionally, entities must disclose the total amount of selling expenses and, in annual reporting periods, an entity's definition of selling expenses. ASU 2024-03 will be effective, on a prospective basis, for annual reporting periods beginning after Dec. 15, 2026, and interim periods beginning after Dec. 15, 2027, though early adoption and retrospective application is permitted. ASU 2024-03 is not expected to have a significant impact on our financial conditions or results of operations.
In September 2025, Accounting Standard Update 2025-06 ("ASU 2025-06"), "Intangibles - Goodwill and Other - Internal-Use Software" (Subtopic 350-40) was issued. ASU 2025-06 simplifies the accounting for internal-use software by removing project development stages and introducing a new capitalization threshold. Under the revised standard, software development costs are capitalized when management authorizes and commits funding for the project and it is probable the software will be completed and used as intended. ASU 2025-06 is effective for annual periods beginning after Dec. 15, 2027 and is not expected to have a significant impact on our financial conditions or results of operations.
In November 2025, Accounting Standard Update 2025-08 ("ASU 2025-08"), "Financial Instruments - Credit Losses" (Topic 326) was issued. ASU 2025-08 expands the scope of acquired financial assets subject to the gross up approach formerly applicable only to purchased credit-deteriorated ("PCD") assets, to include acquired non-PCD loans that meet certain criteria, now referred to as "purchased seasoned loans" (PSLs). Under this model, an allowance for expected credit losses is recognized at acquisition, offsetting the loan's amortized cost basis, thereby eliminating the day-one credit-loss expense previously required for non-PCD assets. PSLs are defined as non-PCD loans acquired either (i) through a business combination, or (ii) purchased more than 90 days after origination when the acquirer was not involved in origination. ASU 2025-08 will be effective on a prospective basis for loans acquired on or after the adoption date, for interim and annual reporting periods
First Commonwealth Financial Corporation published this content on November 06, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on November 06, 2026 at 22:08 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]