Condensed Financial Information of First Commonwealth Financial Corporation (parent company only) (Tables)

12 Months Ended

Dec. 31, 2012


Statements of Financial Condition	December 31,
	2012		2011
	(dollars in thousands)
Assets
Cash	$	19,493	$	6,376
Loans to affiliated parties		30		34
Investment in subsidiaries		736,165		751,702
Investment in unconsolidated subsidiary trusts		3,291		3,291
Investment in jointly-owned company		8,347		8,007
Premises and equipment, net		9,347		14,196
Recievable from subsidiaries		1,583		2,545
Dividends receivable		1,205		0
Other assets		76,715		85,833

Total assets	$	856,176	$	871,984

Liabilities and Shareholders’ Equity
Accrued expenses and other liabilities	$	4,419	$	6,091
Loans payable		0		1,600
Subordinated debentures payable		105,750		105,750
Shareholders’ equity		746,007		758,543

Total liabilities and shareholders’ equity	$	856,176	$	871,984


Statements of Operations	2012			2011			2010
	(dollars in thousands)
Interest and dividends	$	1		$	1		$	1
Dividends from subsidiaries		64,342			10,321			3,190
Interest expense		(5,711	)		(5,605	)		(5,658	)
Other income		12,581			30,595			28,789
Operating expense		(19,061	)		(44,057	)		(42,786	)

Income (loss) before taxes and equity in undistributed earnings of subsidiaries		52,152			(8,745	)		(16,464	)
Applicable income tax benefits		4,364			6,618			6,790

Income (loss) before equity in undistributed earnings of subsidiaries		56,516			(2,127	)		(9,674	)
Equity in undistributed (loss) earnings of subsidiaries		(14,562	)		17,401			32,652

Net income	$	41,954		$	15,274		$	22,978


Statements of Cash Flow	2012			2011			2010
	(dollars in thousands)
Operating Activities
Net income	$	41,954		$	15,274		$	22,978
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		3,719			3,730			3,658
Net gain on sales of assets		(107	)		(1,069	)		(3	)
(Increase) decrease in prepaid income taxes		(3,044	)		0			23
Undistributed equity in subsidiaries		14,562			(17,401	)		(32,652	)
Other net		8,789			1,649			9,029

Net cash provided by operating activities		65,873			2,183			3,033
Investing Activities
Net change in loans to affiliated parties		4			5			7
Purchases of premises and equipment		(3,005	)		(5,736	)		(3,026	)
Proceeds from sale of other assets		4,309			1,461			15
Additional investment in subsidiary		0			0			(70,000	)

Net cash provided by (used in) investing activities		1,308			(4,270	)		(73,004	)
Financing Activities
Proceeds from issuance of common stock		0			144			83,913
Discount on dividend reinvestment plan purchases		(92	)		(63	)		(33	)
Dividends paid		(18,759	)		(12,558	)		(5,306	)
Proceeds from reissuance of treasury stock		1,028			72			4,248
Purchase of treasury stock		(36,242	)		(9	)		(9	)
Stock option tax benefit		1			6			0

Net cash (used in) provided by financing activities		(54,064	)		(12,408	)		82,813

Net increase (decrease) in cash		13,117			(14,495	)		12,842
Cash at beginning of year		6,376			20,871			8,029

Cash at end of year	$	19,493		$	6,376		$	20,871