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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, 2018
Condensed Financial Information Disclosure [Abstract] |
Statements of Financial Condition |
Statements of Financial Condition | December 31,
| 2018 |  | 2017
| (dollars in thousands)
Assets |  |  |
Cash | $ | 21,466 |  |  | $ | 16,432 |
Loans | 14 |  |  | 17 |
Investment in subsidiaries | 1,014,685 |  |  | 927,765 |
Investment in unconsolidated subsidiary trusts | 2,192 |  |  | 2,186 |
Investment in jointly-owned company | 280 |  |  | 9,191 |
Premises and equipment, net | 3,519 |  |  | 3,715 |
Dividends receivable from subsidiaries | 5,444 |  |  | — |
Other assets | 5,402 |  |  | 4,996 |
Total assets | $ | 1,053,002 |  |  | $ | 964,302 |
Liabilities and Shareholders’ Equity |  |  |
Accrued expenses and other liabilities | $ | 5,446 |  |  | $ | 4,008 |
Subordinated debentures payable | 72,167 |  |  | 72,167 |
Shareholders’ equity | 975,389 |  |  | 888,127 |
Total liabilities and shareholders’ equity | $ | 1,053,002 |  |  | $ | 964,302 |
Statements of Operations |
Statements of Income | For the years ended December 31,
| 2018 |  | 2017 |  | 2016
| (dollars in thousands)
Interest and dividends | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |
Dividends from subsidiaries | 81,851 |  |  | 52,586 |  |  | 55,510 |
Interest expense | (3,722 | ) |  | (3,000 | ) |  | (2,635 | )
Other income | 14 |  |  | 17 |  |  | 83 |
Operating expense | (4,047 | ) |  | (4,767 | ) |  | (4,700 | )
Income before taxes and equity in undistributed earnings of subsidiaries | 74,097 |  |  | 44,837 |  |  | 48,259 |
Applicable income tax benefits | 1,324 |  |  | 2,557 |  |  | 2,515 |
Income before equity in undistributed earnings of subsidiaries | 75,421 |  |  | 47,394 |  |  | 50,774 |
Equity in undistributed earnings of subsidiaries | 32,077 |  |  | 7,771 |  |  | 8,816 |
Net income | $ | 107,498 |  |  | $ | 55,165 |  |  | $ | 59,590 |
Statements of Cash Flow |
| For the years ended December 31,
Statements of Cash Flow | 2018 |  | 2017 |  | 2016
| (dollars in thousands)
Operating Activities |  |  |  |  |
Net income | $ | 107,498 |  |  | $ | 55,165 |  |  | $ | 59,590 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Depreciation and amortization | 320 |  |  | 322 |  |  | 355 |
Net gains on sales of assets | (7 | ) |  | (3 | ) |  | — |
Decrease (increase) in prepaid income taxes | 37 |  |  | (550 | ) |  | 7,380 |
Undistributed equity in subsidiaries | (32,077 | ) |  | (7,771 | ) |  | (8,816 | )
Distribution from unconsolidated subsidiary | 9,000 |  |  | — |  |  | — |
Other net | (1,628 | ) |  | 8,767 |  |  | 7,759 |
Net cash provided by operating activities | 83,143 |  |  | 55,930 |  |  | 66,268 |
Investing Activities |  |  |  |  |
Net change in loans | 3 |  |  | 2 |  |  | 3 |
Purchases of premises and equipment | (87 | ) |  | (207 | ) |  | — |
Proceeds from sale of other assets | 7 |  |  | 3 |  |  | (332 | )
Proceeds from dissolution of subsidiary | 0 |  |  | — |  |  | 27,017 |
Acquisition of affiliate, net of cash received | 0 |  |  | (250 | ) |  | — |
Investment in subsidiaries | (17,202 | ) |  | (37,690 | ) |  | (47,017 | )
Net cash used in by investing activities | (17,279 | ) |  | (38,142 | ) |  | (20,329 | )
Financing Activities |  |  |  |  |
Dividends paid | (34,849 | ) |  | (30,513 | ) |  | (24,907 | )
Proceeds from reissuance of treasury stock | 208 |  |  | 228 |  |  | 216 |
Purchase of treasury stock | (26,189 | ) |  | (1,458 | ) |  | (864 | )
Net cash used in financing activities | (60,830 | ) |  | (31,743 | ) |  | (25,555 | )
Net increase (decrease) in cash | 5,034 |  |  | (13,955 | ) |  | 20,384 |
Cash at beginning of year | 16,432 |  |  | 30,387 |  |  | 10,003 |
Cash at end of year | $ | 21,466 |  |  | $ | 16,432 |  |  | $ | 30,387 |

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