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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, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Statements of Financial Condition |
Statements of Financial Condition | December 31,
| 2017 |  | 2016
| (dollars in thousands)
Assets |  |  |
Cash | $ | 16,432 |  |  | $ | 30,387 |
Loans | 17 |  |  | 19 |
Investment in subsidiaries | 927,765 |  |  | 770,214 |
Investment in unconsolidated subsidiary trusts | 2,186 |  |  | 2,185 |
Investment in jointly-owned company | 9,191 |  |  | 9,042 |
Premises and equipment, net | 3,715 |  |  | 3,793 |
Receivable from subsidiaries | — |  |  | 33 |
Dividends receivable from subsidiaries | — |  |  | 4,662 |
Other assets | 4,996 |  |  | 2,453 |
Total assets | $ | 964,302 |  |  | $ | 822,788 |
Liabilities and Shareholders’ Equity |  |  |
Accrued expenses and other liabilities | $ | 4,008 |  |  | $ | 692 |
Subordinated debentures payable | 72,167 |  |  | 72,167 |
Shareholders’ equity | 888,127 |  |  | 749,929 |
Total liabilities and shareholders’ equity | $ | 964,302 |  |  | $ | 822,788 |
Statements of Operations |
Statements of Income | For the years ended December 31,
| 2017 |  | 2016 |  | 2015
| (dollars in thousands)
Interest and dividends | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |
Dividends from subsidiaries | 52,586 |  |  | 55,510 |  |  | 49,917 |
Interest expense | (3,000 | ) |  | (2,635 | ) |  | (2,357 | )
Other income | 17 |  |  | 83 |  |  | 232 |
Operating expense | (4,767 | ) |  | (4,700 | ) |  | (4,989 | )
Income (loss) before taxes and equity in undistributed (loss) earnings of subsidiaries | 44,837 |  |  | 48,259 |  |  | 42,804 |
Applicable income tax benefits | 2,557 |  |  | 2,515 |  |  | 2,528 |
Income before equity in undistributed (loss) earnings of subsidiaries | 47,394 |  |  | 50,774 |  |  | 45,332 |
Equity in undistributed earnings (loss) of subsidiaries | 7,771 |  |  | 8,816 |  |  | 4,811 |
Net income | $ | 55,165 |  |  | $ | 59,590 |  |  | $ | 50,143 |
Statements of Cash Flow |
| For the years ended December 31,
Statements of Cash Flow | 2017 |  | 2016 |  | 2015
| (dollars in thousands)
Operating Activities |  |  |  |  |
Net income | $ | 55,165 |  |  | $ | 59,590 |  |  | $ | 50,143 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Depreciation and amortization | 322 |  |  | 355 |  |  | 493 |
Net (gains) losses on sales of assets | (3 | ) |  | — |  |  | 240 |
(Increase) decrease in prepaid income taxes | (550 | ) |  | 7,380 |  |  | (6,993 | )
Undistributed equity in subsidiaries | (7,771 | ) |  | (8,816 | ) |  | (4,811 | )
Other net | 8,767 |  |  | 7,759 |  |  | 10,753 |
Net cash provided by operating activities | 55,930 |  |  | 66,268 |  |  | 49,825 |
Investing Activities |  |  |  |  |
Net change in loans | 2 |  |  | 3 |  |  | 2 |
Purchases of premises and equipment | (207 | ) |  | — |  |  | 54 |
Proceeds from sale of other assets | 3 |  |  | (332 | ) |  | — |
Proceeds from dissolution of subsidiary | 0 |  |  | 27,017 |  |  | — |
Acquisition of affiliate, net of cash received | (250 | ) |  | — |  |  | — |
Investment in subsidiaries | (37,690 | ) |  | (47,017 | ) |  | — |
Net cash (used in) provided by investing activities | (38,142 | ) |  | (20,329 | ) |  | 56 |
Financing Activities |  |  |  |  |
Dividends paid | (30,513 | ) |  | (24,907 | ) |  | (25,089 | )
Proceeds from reissuance of treasury stock | 228 |  |  | 216 |  |  | 192 |
Purchase of treasury stock | (1,458 | ) |  | (864 | ) |  | (25,383 | )
Net cash used in financing activities | (31,743 | ) |  | (25,555 | ) |  | (50,280 | )
Net (decrease) increase in cash | (13,955 | ) |  | 20,384 |  |  | (399 | )
Cash at beginning of year | 30,387 |  |  | 10,003 |  |  | 10,402 |
Cash at end of year | $ | 16,432 |  |  | $ | 30,387 |  |  | $ | 10,003 |

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