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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, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Statements of Financial Condition |
Statements of Financial Condition | December 31,
| 2016 |  | 2015
| (dollars in thousands)
Assets |  |  |
Cash | $ | 30,387 |  |  | $ | 10,003 |
Loans | 19 |  |  | 22 |
Investment in subsidiaries | 770,214 |  |  | 719,073 |
Investment in unconsolidated subsidiary trusts | 2,185 |  |  | 2,182 |
Investment in jointly-owned company | 9,042 |  |  | 8,978 |
Premises and equipment, net | 3,793 |  |  | 3,780 |
Receivable from subsidiaries | 33 |  |  | 441 |
Dividends receivable from subsidiaries | 4,662 |  |  | 714 |
Other assets | 2,453 |  |  | 47,631 |
Total assets | $ | 822,788 |  |  | $ | 792,824 |
Liabilities and Shareholders’ Equity |  |  |
Accrued expenses and other liabilities | $ | 692 |  |  | $ | 1,111 |
Subordinated debentures payable | 72,167 |  |  | 72,167 |
Shareholders’ equity | 749,929 |  |  | 719,546 |
Total liabilities and shareholders’ equity | $ | 822,788 |  |  | $ | 792,824 |
Statements of Operations |
Statements of Income | For the years ended December 31,
| 2016 |  | 2015 |  | 2014
| (dollars in thousands)
Interest and dividends | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |
Dividends from subsidiaries | 55,510 |  |  | 49,917 |  |  | 49,207 |
Interest expense | (2,635 | ) |  | (2,357 | ) |  | (2,335 | )
Other income | 83 |  |  | 232 |  |  | 1,251 |
Operating expense | (4,700 | ) |  | (4,989 | ) |  | (6,766 | )
Income (loss) before taxes and equity in undistributed (loss) earnings of subsidiaries | 48,259 |  |  | 42,804 |  |  | 41,358 |
Applicable income tax benefits | 2,515 |  |  | 2,528 |  |  | 2,968 |
Income before equity in undistributed (loss) earnings of subsidiaries | 50,774 |  |  | 45,332 |  |  | 44,326 |
Equity in undistributed earnings (loss) of subsidiaries | 8,816 |  |  | 4,811 |  |  | 127 |
Net income | $ | 59,590 |  |  | $ | 50,143 |  |  | $ | 44,453 |
Statements of Cash Flow |
| For the years ended December 31,
Statements of Cash Flow | 2016 |  | 2015 |  | 2014
| (dollars in thousands)
Operating Activities |  |  |  |  |
Net income | $ | 59,590 |  |  | $ | 50,143 |  |  | $ | 44,453 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Depreciation and amortization | 355 |  |  | 493 |  |  | 2,150 |
Net gain (loss) on sales of assets | — |  |  | 240 |  |  | — |
Decrease (increase) in prepaid income taxes | 7,380 |  |  | (6,993 | ) |  | (487 | )
Undistributed equity in subsidiaries | (8,816 | ) |  | (4,811 | ) |  | (127 | )
Other net | 7,759 |  |  | 10,753 |  |  | 13,077 |
Net cash provided by operating activities | 66,268 |  |  | 49,825 |  |  | 59,066 |
Investing Activities |  |  |  |  |
Net change in loans | 3 |  |  | 2 |  |  | 3 |
Purchases of premises and equipment | — |  |  | 54 |  |  | (47 | )
Proceeds from sale of other assets | (332 | ) |  | — |  |  | 13 |
Proceeds from dissolution of subsidiary | 27,017 |  |  | — |  |  | — |
Investment in subsidiaries | (47,017 | ) |  | — |  |  | — |
Net cash (used in) provided by investing activities | (20,329 | ) |  | 56 |  |  | (31 | )
Financing Activities |  |  |  |  |
Discount on dividend reinvestment plan purchases | — |  |  | — |  |  | (65 | )
Dividends paid | (24,907 | ) |  | (25,089 | ) |  | (26,174 | )
Proceeds from reissuance of treasury stock | 216 |  |  | 192 |  |  | 192 |
Purchase of treasury stock | (864 | ) |  | (25,383 | ) |  | (30,956 | )
Net cash used in financing activities | (25,555 | ) |  | (50,280 | ) |  | (57,003 | )
Net increase (decrease) in cash | 20,384 |  |  | (399 | ) |  | 2,032 |
Cash at beginning of year | 10,003 |  |  | 10,402 |  |  | 8,370 |
Cash at end of year | $ | 30,387 |  |  | $ | 10,003 |  |  | $ | 10,402 |

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