XML 51 R36.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Condensed Financial Information of First Commonwealth Financial Corporation (parent company only) | 12 Months Ended
--- | ---
Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Financial Information of First Commonwealth Financial Corporation (parent company only) | Condensed Financial Information of First Commonwealth Financial Corporation (parent company only)
Statements of Financial Condition | December 31,
| 2015 |  | 2014
| (dollars in thousands)
Assets |  |  |
Cash | $ | 10,003 |  |  | $ | 10,402 |
Loans | 22 |  |  | 24 |
Investment in subsidiaries | 719,073 |  |  | 712,610 |
Investment in unconsolidated subsidiary trusts | 2,182 |  |  | 2,182 |
Investment in jointly-owned company | 8,978 |  |  | 8,749 |
Premises and equipment, net | 3,780 |  |  | 4,287 |
Receivable from subsidiaries | 441 |  |  | — |
Dividends receivable from subsidiaries | 714 |  |  | — |
Other assets | 47,631 |  |  | 50,988 |
Total assets | $ | 792,824 |  |  | $ | 789,242 |
Liabilities and Shareholders’ Equity |  |  |
Accrued expenses and other liabilities | $ | 1,111 |  |  | $ | 930 |
Subordinated debentures payable | 72,167 |  |  | 72,167 |
Shareholders’ equity | 719,546 |  |  | 716,145 |
Total liabilities and shareholders’ equity | $ | 792,824 |  |  | $ | 789,242 |
Statements of Income | For the years ended December 31,
| 2015 |  | 2014 |  | 2013
| (dollars in thousands)
Interest and dividends | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |
Dividends from subsidiaries | 49,917 |  |  | 49,207 |  |  | 65,140 |
Interest expense | (2,357 | ) |  | (2,335 | ) |  | (3,128 | )
Other income | 232 |  |  | 1,251 |  |  | 2,653 |
Operating expense | (4,989 | ) |  | (6,766 | ) |  | (8,820 | )
Income (loss) before taxes and equity in undistributed (loss) earnings of subsidiaries | 42,804 |  |  | 41,358 |  |  | 55,846 |
Applicable income tax benefits | 2,528 |  |  | 2,968 |  |  | 3,384 |
Income before equity in undistributed (loss) earnings of subsidiaries | 45,332 |  |  | 44,326 |  |  | 59,230 |
Equity in undistributed earnings (loss) of subsidiaries | 4,811 |  |  | 127 |  |  | (17,748 | )
Net income | $ | 50,143 |  |  | $ | 44,453 |  |  | $ | 41,482 |
| For the years ended December 31,
Statements of Cash Flow | 2015 |  | 2014 |  | 2013
| (dollars in thousands)
Operating Activities |  |  |  |  |
Net income | $ | 50,143 |  |  | $ | 44,453 |  |  | $ | 41,482 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Depreciation and amortization | 493 |  |  | 2,150 |  |  | 3,030 |
Net gain (loss) on sales of assets | 240 |  |  | — |  |  | 17 |
(Increase) decrease in prepaid income taxes | (6,993 | ) |  | (487 | ) |  | 3,044 |
Undistributed equity in subsidiaries | (4,811 | ) |  | (127 | ) |  | 17,748 |
Other net | 10,753 |  |  | 13,077 |  |  | 12,964 |
Net cash provided by operating activities | 49,825 |  |  | 59,066 |  |  | 78,285 |
Investing Activities |  |  |  |  |
Net change in loans | 2 |  |  | 3 |  |  | 4 |
Purchases of premises and equipment | 54 |  |  | (47 | ) |  | (123 | )
Proceeds from sale of other assets | — |  |  | 13 |  |  | 1,132 |
Net cash (used in) provided by investing activities | 56 |  |  | (31 | ) |  | 1,013 |
Financing Activities |  |  |  |  |
Repayments of subordinated debenture | — |  |  | — |  |  | (34,702 | )
Discount on dividend reinvestment plan purchases | — |  |  | (65 | ) |  | (112 | )
Dividends paid | (25,089 | ) |  | (26,174 | ) |  | (22,344 | )
Proceeds from reissuance of treasury stock | 192 |  |  | 192 |  |  | 176 |
Purchase of treasury stock | (25,383 | ) |  | (30,956 | ) |  | (33,439 | )
Net cash used in financing activities | (50,280 | ) |  | (57,003 | ) |  | (90,421 | )
Net increase (decrease) in cash | (399 | ) |  | 2,032 |  |  | (11,123 | )
Cash at beginning of year | 10,402 |  |  | 8,370 |  |  | 19,493 |
Cash at end of year | $ | 10,003 |  |  | $ | 10,402 |  |  | $ | 8,370 |
Cash dividends declared per common share were $0.28 for 2015, $0.28 for 2014 and $0.23 for 2013. First Commonwealth Financial Corporation has an unsecured $15.0 million line of credit with another financial institution. As of December 31, 2015, there are no amounts outstanding on this line and we are in compliance with all debt covenants related to the line of credit.

X
- References No definition available. + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration