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Regulatory Restrictions and Capital Adequacy | 12 Months Ended
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Dec. 31, 2015
Regulatory Capital Requirements [Abstract] |
Regulatory Restrictions and Capital Adequacy | Regulatory Restrictions and Capital Adequacy The amount of funds available to the parent from its subsidiary bank is limited by restrictions imposed on all depository institutions by banking regulation that restricts and limits the payment of dividends and the ability of depository institutions to engage in transactions, including lending transactions and asset purchases, with affiliates. First Commonwealth and First Commonwealth Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators which, if undertaken, could have a direct material effect on First Commonwealth’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, First Commonwealth and First Commonwealth Bank must meet specific capital guidelines that involve quantitative measures of First Commonwealth’s assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. First Commonwealth’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weighting and other factors. First Commonwealth maintains capital to absorb unexpected losses. In order to provide assurance that our capital levels are adequate for our risk exposure we test our capital position under several stress scenarios on an annual basis. This analysis is subject to Board of Director review and approval. Our most recent capital stress test was completed in December 2015. Effective January 1, 2015, the Company is subject to new regulatory risk-based capital rules adopted by the federal banking agencies implementing Basel III. The most significant changes include higher minimum capital requirements, as the minimum Tier I capital ratio increased from 4.0% to 6.0%, and the establishment of a new common equity Tier I capital ratio with a minimum level of 4.5%. Additionally, the new rules improve the quality of capital by providing stricter eligibility criteria for regulatory capital instruments and provide for a phase-in, beginning January 1, 2016, of a capital conservation buffer of 2.5% of risk-weighted assets. This buffer provides a requirement to hold common equity Tier 1 capital above the minimum risk-based capital requirements, resulting in an effective common equity Tier I risk-weighted asset minimum ratio of 7% on a fully phased-in basis. The Basel III rules also permitted banking organizations with less than $15.0 billion in assets to retain, through a one-time election, the exclusion of accumulated other comprehensive income from regulatory capital. The Company elected to retain this treatment, which reduces the volatility of regulatory capital levels. As of December 31, 2015, First Commonwealth and First Commonwealth Bank met all capital adequacy requirements to which they are subject and was considered well-capitalized under the regulatory rules on a fully phased-in basis. To be considered well-capitalized, the Company must maintain minimum Total risk-based capital, Tier I risk-based capital, Tier I leverage ratio and Common Equity tier I as set forth in the table below:
| Actual |  | Minimum Capital Required - Basel III Phase-In Schedule |  | Minimum Capital Required - Basel III Fully Phased-In |  | Required to be Considered Well Capitalized
| Capital Amount |  | Ratio |  | Capital Amount |  | Ratio |  | Capital Amount |  | Ratio |  | Capital Amount |  | Ratio
| (dollars in thousands)
As of December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Capital to Risk Weighted Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First Commonwealth Financial Corporation | $ | 682,199 |  |  | 12.25 | % |  | $ | 445,650 |  |  | 8.00 | % |  | $ | 584,915 |  |  | 10.50 | % |  | $ | 557,062 |  |  | 10.00 | %
First Commonwealth Bank | 656,244 |  |  | 11.78 |  |  | 445,642 |  |  | 8.00 |  |  | 584,905 |  |  | 10.50 |  |  | 557,052 |  |  | 10.00 |
Tier I Capital to Risk Weighted Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First Commonwealth Financial Corporation | $ | 626,939 |  |  | 11.25 | % |  | $ | 334,237 |  |  | 6.00 | % |  | $ | 473,503 |  |  | 8.50 | % |  | $ | 445,650 |  |  | 8.00 | %
First Commonwealth Bank | 600,984 |  |  | 10.79 |  |  | 334,231 |  |  | 6.00 |  |  | 473,494 |  |  | 8.50 |  |  | 445,642 |  |  | 8.00 |
Tier I Capital to Average Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First Commonwealth Financial Corporation | $ | 626,939 |  |  | 9.85 | % |  | $ | 254,631 |  |  | 4.00 | % |  | $ | 254,631 |  |  | 4.00 | % |  | $ | 318,289 |  |  | 5.00 | %
First Commonwealth Bank | 600,984 |  |  | 9.46 |  |  | 254,095 |  |  | 4.00 |  |  | 254,095 |  |  | 4.00 |  |  | 317,618 |  |  | 5.00 |
Common Equity Tier I to Risk Weighted Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First Commonwealth Financial Corporation | $ | 556,939 |  |  | 10.00 | % |  | $ | 250,678 |  |  | 4.50 | % |  | $ | 389,944 |  |  | 7.00 | % |  | $ | 362,091 |  |  | 6.50 | %
First Commonwealth Bank | 535,814 |  |  | 9.62 |  |  | 250,673 |  |  | 4.50 |  |  | 389,937 |  |  | 7.00 |  |  | 362,084 |  |  | 6.50 |
At December 31, 2014, First Commonwealth and First Commonwealth Bank met all capital adequacy requirements to which they were subject. The following table presents actual and required capital ratios as of December 31, 2014 under the regulatory capital rules then in effect.
| Actual |  | Regulatory Minimum |  | Well Capitalized Regulatory Guidelines
| Capital Amount |  | Ratio |  | Capital Amount |  | Ratio |  | Capital Amount |  | Ratio
| (dollars in thousands)
As of December 31, 2014 |  |  |  |  |  |  |  |  |  |  |
Total Capital to Risk Weighted Assets |  |  |  |  |  |  |  |  |  |  |
First Commonwealth Financial Corporation | $ | 662,733 |  |  | 12.79 | % |  | $ | 414,460 |  |  | 8.00 | % |  | N/A |  |  | N/A |
First Commonwealth Bank | 647,500 |  |  | 12.48 |  |  | 415,217 |  |  | 8.00 |  |  | $ | 519,021 |  |  | 10.00 | %
Tier I Capital to Risk Weighted Assets |  |  |  |  |  |  |  |  |  |  |
First Commonwealth Financial Corporation | $ | 607,602 |  |  | 11.73 | % |  | $ | 207,230 |  |  | 4.00 | % |  | N/A |  |  | N/A |
First Commonwealth Bank | 592,369 |  |  | 11.41 |  |  | 207,608 |  |  | 4.00 |  |  | $ | 311,413 |  |  | 6.00 | %
Tier I Capital to Average Assets |  |  |  |  |  |  |  |  |  |  |
First Commonwealth Financial Corporation | $ | 607,602 |  |  | 9.85 | % |  | $ | 246,738 |  |  | 4.00 | % |  | N/A |  |  | N/A |
First Commonwealth Bank | 592,369 |  |  | 9.66 |  |  | 245,276 |  |  | 4.00 |  |  | $ | 306,595 |  |  | 5.00 | %

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- Definition The entire disclosure for banks, savings institutions, and credit unions, for regulatory capital requirements imposed by the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS) or for any state imposed capital requirements, as applicable. The disclosure may include (1) a description of regulatory capital requirements (a) for capital adequacy purposes and (b) established by the prompt corrective action provisions of Section 38 of the Federal Depository Insurance Act; (2) the actual or possible material effects of noncompliance with such requirements; (3) whether the entity is in compliance with the regulatory capital requirements including (a) required and actual ratios and amounts of Tier 1 leverage, Tier 1 risk-based, and total risk-based capital, tangible capital (for savings institutions), and Tier 3 capital for market risk (for certain banks and bank holding companies), (b) factors that may significantly affect capital adequacy; (4) the prompt corrective action category in which the entity was classified as of its most recent notification; (5) whether management believes any conditions or events since notification have changed the entity's category. Also may include additional information that might be disclosed in situations where substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1G -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958577-112826 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1C -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958572-112826 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1E -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958574-112826 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1H -URI http://asc.fasb.org/extlink&oid=35709795&loc=d3e65071-112826 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958569-112826 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958570-112826 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1F -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958575-112826 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958568-112826 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1D -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958573-112826 + Details
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