First Commonwealth Announces Third Quarter 2026 Earnings; Declares Quarterly Dividend and Announces Additional Share Repurchase Authorization
Key Highlights
- ➤Q3 GAAP net income $44.9 million, diluted EPS $0.45, up year-over-year
- ➤Net interest margin 4.11%, up 10 basis points sequentially
- ➤Nonperforming loans $95.2 million, up $13.6 million sequentially
- ➤Board authorizes additional $25 million share repurchase program
- ➤Quarterly dividend $0.14 per share, up 3.7% year-over-year
Expert Statements
T. Michael Price, President and Chief Executive Officer of First Commonwealth Financial Corporation
“Third-quarter results reflected higher revenue, net interest margin expansion and modest loan growth, alongside a higher provision expense and operating expenses,”
T. Michael Price, President and Chief Executive Officer of First Commonwealth Financial Corporation
“Our near-term priorities include continuing to improve credit performance, generating profitable growth and controlling expenses to create positive operating leverage.”
T. Michael Price, President and Chief Executive Officer of First Commonwealth Financial Corporation
“We believe a mission-driven community bank of our size remains important and relevant to our stakeholders.”
INDIANA, Pa., Oct. 27, 2026 (GLOBE NEWSWIRE) -- First Commonwealth Financial Corporation (NYSE: FCF) today announced financial results for the third quarter of 2026.
(dollars in thousands,For the Three Months EndedFor the Nine Months Ended except per share data)September 30,June 30,September 30,September 30,September 30, 20262026202520262025 Reported Results Net income$ 44,943$ 44,589$ 41,328$ 127,080$ 107,426 Diluted earnings per share$ 0.45$ 0.44$ 0.39$ 1.25$ 1.04 Return on average assets1.46 %1.47 %1.34 %1.39 %1.20 % Return on average equity11.44 %11.44 %10.71 %10.88 %9.67 % Operating Results (non-GAAP) ((1)) Core net income$ 45,442$ 44,427$ 41,166$ 127,329$ 113,442 Core diluted earnings per share$ 0.45$ 0.44$ 0.39$ 1.26$ 1.10 Core pre-tax pre-provision net revenue$ 65,495$ 64,999$ 62,942$ 188,348$ 168,498 Provision expense$ 14,188$ 8,931$ 11,327$ 33,852$ 25,961 Provision for credit losses - acquisition day 1 non-PCD$ —$ —$ —$ —$ 3,759 Net charge-offs$ 4,581$ 11,441$ 12,247$ 24,183$ 18,103 Reserve build/(release) ((2))$ 6,100$ (1,758)$ (3,361)$ 7,757$ 10,699 Core return on average assets (ROAA)1.48 %1.46 %1.34 %1.40 %1.26 % Core pre-tax pre-provision ROAA2.13 %2.14 %2.05 %2.06 %1.88 % Return on average tangible common equity15.73 %15.71 %14.96 %14.98 %13.55 % Core return on average tangible common equity15.90 %15.66 %14.90 %15.01 %14.29 % Core efficiency ratio53.15 %52.24 %52.30 %53.58 %54.98 % Net interest margin (FTE)4.11 %4.01 %3.92 %4.02 %3.79 %
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