📈 Price History

Ratio Health

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— Good

— Average

— Poor

By Category

📊 Sector Averages

About

First Commonwealth Financial Corporation, a financial holding company, provides various consumer and commercial banking products and services in the United States. The company’s consumer services include internet, mobile, and telephone banking; an automated teller machine network; personal checking accounts, interest-earning checking accounts, savings and health savings accounts, insured money market accounts, debit cards, investment certificates, fixed and variable rate certificates of deposit, mortgage loans, secured and unsecured installment loans, construction and real estate loans, safe deposit facilities, credit cards, credit lines with overdraft checking protection, and IRA accounts. The company also provides commercial banking services comprising commercial lending and leasing, business checking accounts, online account management services, payroll direct deposits, commercial cash management services, and repurchase agreements, as well as ACH origination services. In addition, the company offers various trust and asset management services; auto, home, and business insurance, as well as term life insurance products; and annuities, mutual funds, and stock and bond brokerage services through a broker-dealer and insurance brokers. Further, it provides commercial real estate, residential real estate, real estate construction loans, and loans to individuals, as well as commercial, financial, agricultural, and other loans. The company was founded in 1934 and is headquartered in Indiana, Pennsylvania.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding FCF

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	215.6K	$3.8M	0.01%	Mar 2026
Steve Cohen Point72 Asset Management	124.7K	$2.2M	0.00%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Mixed ↓ Deteriorating 4 quarters analysed

Q2 2025

Confident Specific

Management repeatedly uses positive language like 'generally pleased', 'robust', 'strong quarter', and provides precise numbers (e.g., 21 bps NIM expansion, $0.38 core EPS beating consensus). Guidance is detailed with specific ranges for NII and NIM.

Q3 2025

Confident Specific

Management used specific figures like 'ROA improved to 1.34%', 'NIM expanded 9 bps to 3.92%', and 'core pre-tax pre-provision ROA grew 10 bps to 2.05%'. They openly discussed the dealer floor plan fraud and provided granular detail on charge-offs and reserves, showing transparency.

Q4 2025

Confident Specific

Management used precise figures (core EPS $0.43, NIM 3.98%, core ROA 1.45%) and provided explicit forward guidance (NIM ending 2026 at ~4%, cost growth ~3%), with no hedging or defensive language.

Q1 2026 latest

Mixed

Management acknowledged missing consensus EPS ($0.37 vs $0.40) and described NPLs as 'stubbornly high' at 0.98%, but simultaneously highlighted deposit growth (6.3% annualized), a strengthened balance sheet, and upwardly revised NIM guidance to low 4% by Q4. The tone balanced realism about credit issues with optimism on margin expansion and capital returns.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is slightly weaker after this call due to the EPS miss and persistent credit headwinds (NPLs at 0.98%), but the upward NIM guidance and strong deposit franchise provide offsetting positives. The key change is management's increased confidence in margin expansion from lower deposit costs and swap expirations, but this depends on executing deposit rate reductions without losing core customers. Credit costs remain uncertain given specific reserves and elevated payoffs. Next quarter, watch for actual loan growth inflection, charge-off resolution progress, and deposit beta improvements to validate the NIM trajectory. Capital return is robust, but organic revenue generation needs to accelerate to support the growth story.

AI-generated concall tone analysis · Updated 2026-06-09 · Not investment advice

🎙 Management Tone Mixed ↓ Deteriorating 4 quarters Full tone analysis in Intelligence →

📊 MIXED Net income $37.5M; EPS $0.37; NIM 3.92%; CET1 12.5%

Revenue & Profitability

Net income of $37.5 million, earnings per share of $0.37 (below consensus $0.40). Net interest income was $109.3 million, down $4.2 million linked quarter. Net interest margin was 3.92%. Non-interest expense totaled $75.5 million, up $1.2 million. Provision for loan losses was $10.7 million. CET1 ratio improved to 12.5%. Tangible book value per share grew to $11.34. Deposits grew 6.3% annualized. Share repurchases of $22.7 million at $17.67 per share.

Outlook

Management expects net interest margin to expand to the low 4% range by Q4 2026, benefiting from fewer rate cuts and a maturing swap portfolio. They anticipate one Fed rate cut in late summer. Loan payoffs may slow as rates stabilize. Consumer credit trends improved, with delinquency declining. However, elevated gas prices and inflation are monitored. The bank plans to reduce deposit costs given the low loan-to-deposit ratio of 91%.

Growth Drivers

Key growth drivers include equipment finance (room to run another year), small business and business banking with newly added bankers, and HELOC/HELOAN strength. Geographic tailwinds from chip manufacturing and power plant build-outs in Ohio and Pennsylvania are boosting pipelines. Residential mortgage and SBA origination volumes are strong. The Centric acquisition is driving deposit growth.

Balance Sheet & CapEx

Not discussed in this earnings call.

Margins

Net interest margin was 3.92% and is expected to rise 3-5 basis points per quarter, reaching the low 4% range by Q4. Non-interest expense guidance is $74-$76 million per quarter. Fee income is expected to be $24-$25 million per quarter. The efficiency ratio was 55.4%, with a goal to improve operating leverage.

Key Risks

Risks include elevated non-performing loans (0.98% of loans) driven by three larger credits with $9.6 million in specific reserves. Office loan maturities are being actively managed. Potential headwinds from inflation and energy prices could impact consumer credit. Loan payoffs were unusually high ($630 million), but are expected to slow. No systemic stress was observed.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-07-29

Core EPS rose to $0.44 with improved NIM and strong loan and deposit growth. Fee income and tangible book value increased, while credit quality showed modest improvement. Deposit competition is intensifying, but guidance for loan growth and NIM remains positive for the second half of 2026.

Q1 2026 Q1 2026 2026-04-29

Net income for Q1 2026 was $37.5 million, with NIM at 3.92% and strong deposit growth. Loan payoffs were elevated, but guidance for mid-single-digit loan growth and NIM expansion above 4% by year-end remains. Nearly all capital generation was returned to shareholders.

Q4 2025 Q4 2025 2026-01-28

Core EPS and net interest margin exceeded expectations in Q4 2025, with strong loan and deposit growth, disciplined expense management, and continued share repurchases. NIM is expected to dip slightly in early 2026 before improving, while loan growth and capital strength remain robust.

Q3 2025 Q3 2025 2025-10-29

Third quarter results showed strong loan and deposit growth, improved NIM, and resilient fee income, with asset quality stabilizing after isolated credit events. Guidance calls for mid-single-digit loan growth, short-term NIM pressure, and continued focus on deposit mix and efficiency.

Q2 2025 Q2 2025 2025-07-30

Core EPS rose to $0.38, beating estimates, with strong NIM expansion and robust loan and deposit growth. Non-performing loans increased due to a single large credit and an acquisition, but overall credit quality remains solid. NIM is expected to expand further by year-end.

📊 Analysis Methodology

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