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Condensed Financial Information of First Commonwealth Financial Corporation (parent company only) (Tables) | 12 Months Ended
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Dec. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Statements of Financial Condition |
Statements of Financial Condition | December 31,
| 2014 |  | 2013
| (dollars in thousands)
Assets |  |  |
Cash | $ | 10,402 |  |  | $ | 8,370 |
Loans | 24 |  |  | 27 |
Investment in subsidiaries | 712,610 |  |  | 696,438 |
Investment in unconsolidated subsidiary trusts | 2,182 |  |  | 2,182 |
Investment in jointly-owned company | 8,749 |  |  | 8,559 |
Premises and equipment, net | 4,287 |  |  | 6,376 |
Receivable from subsidiaries | — |  |  | 267 |
Dividends receivable from subsidiaries | — |  |  | 1,319 |
Other assets | 50,988 |  |  | 62,633 |
Total assets | $ | 789,242 |  |  | $ | 786,171 |
Liabilities and Shareholders’ Equity |  |  |
Accrued expenses and other liabilities | $ | 930 |  |  | $ | 2,307 |
Subordinated debentures payable | 72,167 |  |  | 72,167 |
Shareholders’ equity | 716,145 |  |  | 711,697 |
Total liabilities and shareholders’ equity | $ | 789,242 |  |  | $ | 786,171 |
Statements of Operations |
Statements of Income | For the years ended December 31,
| 2014 |  | 2013 |  | 2012
| (dollars in thousands)
Interest and dividends | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |
Dividends from subsidiaries | 49,207 |  |  | 65,140 |  |  | 64,342 |
Interest expense | (2,335 | ) |  | (3,128 | ) |  | (5,711 | )
Other income | 1,251 |  |  | 2,653 |  |  | 12,581 |
Operating expense | (6,766 | ) |  | (8,820 | ) |  | (19,061 | )
Income (loss) before taxes and equity in undistributed (loss) earnings of subsidiaries | 41,358 |  |  | 55,846 |  |  | 52,152 |
Applicable income tax benefits | 2,968 |  |  | 3,384 |  |  | 4,364 |
Income before equity in undistributed (loss) earnings of subsidiaries | 44,326 |  |  | 59,230 |  |  | 56,516 |
Equity in undistributed earnings (loss) of subsidiaries | 127 |  |  | (17,748 | ) |  | (14,562 | )
Net income | $ | 44,453 |  |  | $ | 41,482 |  |  | $ | 41,954 |
Statements of Cash Flow |
| For the years ended December 31,
Statements of Cash Flow | 2014 |  | 2013 |  | 2012
| (dollars in thousands)
Operating Activities |  |  |  |  |
Net income | $ | 44,453 |  |  | $ | 41,482 |  |  | $ | 41,954 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Depreciation and amortization | 2,150 |  |  | 3,030 |  |  | 3,719 |
Net gain (loss) on sales of assets | — |  |  | 17 |  |  | (107 | )
(Increase) decrease in prepaid income taxes | (487 | ) |  | 3,044 |  |  | (3,044 | )
Undistributed equity in subsidiaries | (127 | ) |  | 17,748 |  |  | 14,562 |
Other net | 13,077 |  |  | 12,964 |  |  | 8,789 |
Net cash provided by operating activities | 59,066 |  |  | 78,285 |  |  | 65,873 |
Investing Activities |  |  |  |  |
Net change in loans | 3 |  |  | 4 |  |  | 4 |
Purchases of premises and equipment | (47 | ) |  | (123 | ) |  | (3,005 | )
Proceeds from sale of other assets | 13 |  |  | 1,132 |  |  | 4,309 |
Net cash (used in) provided by investing activities | (31 | ) |  | 1,013 |  |  | 1,308 |
Financing Activities |  |  |  |  |
Repayments of subordinated debenture | — |  |  | (34,702 | ) |  | — |
Discount on dividend reinvestment plan purchases | (65 | ) |  | (112 | ) |  | (92 | )
Dividends paid | (26,174 | ) |  | (22,344 | ) |  | (18,759 | )
Proceeds from reissuance of treasury stock | 192 |  |  | 176 |  |  | 1,028 |
Purchase of treasury stock | (30,956 | ) |  | (33,439 | ) |  | (36,242 | )
Stock option tax benefit | — |  |  | — |  |  | 1 |
Net cash used in financing activities | (57,003 | ) |  | (90,421 | ) |  | (54,064 | )
Net increase (decrease) in cash | 2,032 |  |  | (11,123 | ) |  | 13,117 |
Cash at beginning of year | 8,370 |  |  | 19,493 |  |  | 6,376 |
Cash at end of year | $ | 10,402 |  |  | $ | 8,370 |  |  | $ | 19,493 |

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