FCF
First Commonwealth Financial Corporation17.12
-0.16-0.93%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
FY Q3 '25
Q&A adds credit, NIM, deposit color
Q&A largely reaffirmed the scripted story of NIM expansion and credit stabilization but delivered granular color on the dealer floor plan fraud winding down to $16 million with no further Q4 provision expected. Management detailed deposit repricing successes—CD retention near 80%, money markets slashed from 83% to 49% above 3% yields—while guiding NIM to ~3.9% in 2026 amid rate cuts. Loan growth stays mid-single digits, liquidity-constrained despite healthy CRE payoffs and equipment finance momentum for a few quarters. Competition eroded yields 25 basis points yearly, hitting metros hardest. NPLs will keep falling. Investors will eye deposit mix shifts and M&A pipeline for scale.
Key Stats
Market Cap
1.79BP/E (TTM)
12.32Basic EPS (TTM)
1.39Dividend Yield
0.03%Recent Filings
8-K
New $25M buyback authorized
First Commonwealth Financial's board authorized a fresh $25.0 million share repurchase program on December 1, 2025, right after wrapping up the prior $25.0 million buyback—1,560,477 shares at $16.02 weighted average. Shares can be repurchased via 10b5-1 plans, open market, or blocks, compliant with Rule 10b-18. Program is flexible. Repurchases signal confidence.
10-Q
Q3 FY2025 results
First Commonwealth Financial Corporation posted solid Q3 FY2025 results, with net income climbing 29% year-over-year to $41.3 million, or $0.39 diluted EPS, fueled by a 15% surge in net interest income to $111.1 million (derived) as loan yields held steady at 6.08% while deposit costs eased 41 basis points to 2.50%. The Center acquisition closed in April 2025 for $46.2 million in stock plus $1 cash, adding $14.5 million in goodwill and $5.4 million in core deposit intangibles amortized over an estimated life, bolstering the Ohio footprint with three branches and $292.6 million in loans. Provision for credit losses rose 7% to $11.3 million amid a $16 million dealer floorplan nonaccrual, yet the allowance covers 148% of nonperformers. Deposits swelled 5% to $10.2 billion, with $149.6 million in short-term borrowings and $262.1 million in long-term debt against $161.4 million in cash; free cash flow isn't disclosed in the 10-Q. Non-GAAP metrics aren't disclosed. Regulatory pressures on interchange fees loom as assets top $10 billion.
8-K
Board adds cybersecurity expert
First Commonwealth Financial Corporation expanded its board from 12 to 13 members by appointing Joseph V. DiVito Jr. as a director effective November 1, 2025, assigning him to the Audit and Risk Committees. DiVito, a retired PwC principal with 35 years in IT, cybersecurity, and compliance, bolsters governance amid rising digital risks. His expertise sharpens oversight. No special arrangements or transactions disclosed.
8-K
Q3 earnings surge, dividend steady
First Commonwealth Financial reported Q3 2025 net income of $41.3 million, up 24% from Q2's $33.4 million, driven by net interest income rising to $111.5 million on a 3.92% margin—9 basis points wider—while loans grew 5.7% annualized. Deposits expanded 5.0% annualized, yet net charge-offs jumped to $12.2 million from a key commercial relationship, pushing provision expense to $11.3 million. The board declared a $0.135 per share dividend, payable November 21. Momentum builds, but asset quality warrants watch.
10-Q
Q2 FY2025 results
First Commonwealth Financial posted solid Q2 FY2025 results, with net interest income climbing 12% year-over-year to $106.2 million on a fully taxable equivalent basis, thanks to a 26 basis point drop in funding costs amid deposit growth, while the net interest margin expanded to 3.83%. Earnings dipped to $33.4 million or $0.32 per diluted share from $37.1 million last year, pressured by $4.0 million in merger costs from the April 2025 Center acquisition—closed for $46.2 million in stock, adding $14.9 million in goodwill and $5.4 million in core deposit intangibles—and a $1.1 million provision hike tied to loan growth and day-one CECL adjustments. Loans swelled 6.5% to $9.57 billion, fueled by the deal's $292 million addition, yet nonperformers rose to 1.04% of the book on a troubled dealer floor plan. Deposits hit $10.1 billion, bolstering liquidity with $5.3 billion available; debt stayed steady at $262 million. Still, office sector risks linger amid shifting commercial real estate dynamics.
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