XML 36 R23.htm IDEA: XBRL DOCUMENT
v3.21.1

Investment Securities (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2021
Investment Securities [Abstract] |  |
Analysis of Amortized Cost and Estimated Fair Value of Securities Available for Sale | Below is an analysis of the amortized cost and estimated fair values of securities available for sale at:
| March 31, 2021 |  | December 31, 2020
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
| (dollars in thousands)
Obligations of U.S. Government Agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Residential | $ | 6,067 |  |  | $ | 623 |  |  | $ | — |  |  | $ | 6,690 |  |  | $ | 6,492 |  |  | $ | 738 |  |  | $ | — |  |  | $ | 7,230 |
Mortgage-Backed Securities – Commercial | 268,890 |  |  | 4,597 |  |  | (586) |  |  | 272,901 |  |  | 182,823 |  |  | 8,357 |  |  | — |  |  | 191,180 |
Obligations of U.S. Government-Sponsored Enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Residential | 724,611 |  |  | 11,082 |  |  | (7,025) |  |  | 728,668 |  |  | 481,109 |  |  | 14,924 |  |  | — |  |  | 496,033 |
Other Government-Sponsored Enterprises | 1,000 |  |  | — |  |  | (25) |  |  | 975 |  |  | 100,996 |  |  | 2 |  |  | — |  |  | 100,998 |
Obligations of States and Political Subdivisions | 9,647 |  |  | 132 |  |  | (214) |  |  | 9,565 |  |  | 11,154 |  |  | 243 |  |  | — |  |  | 11,397 |
Corporate Securities | 23,146 |  |  | 1,388 |  |  | (75) |  |  | 24,459 |  |  | 22,941 |  |  | 1,444 |  |  | — |  |  | 24,385 |
Total Securities Available for Sale | $ | 1,033,361 |  |  | $ | 17,822 |  |  | $ | (7,925) |  |  | $ | 1,043,258 |  |  | $ | 805,515 |  |  | $ | 25,708 |  |  | $ | — |  |  | $ | 831,223 |
Amortized Cost and Estimated Fair Value of Debt Securities Available for Sale | The amortized cost and estimated fair value of debt securities available for sale at March 31, 2021, by contractual maturity, are shown below.
| Amortized Cost |  | Estimated Fair Value
| (dollars in thousands)
Due within 1 year | $ | 5,000 |  |  | $ | 5,086 |
Due after 1 but within 5 years | 12,870 |  |  | 13,670 |
Due after 5 but within 10 years | 15,923 |  |  | 16,243 |
Due after 10 years | — |  |  | — |
| 33,793 |  |  | 34,999 |
Mortgage-Backed Securities (a) | 999,568 |  |  | 1,008,259 |
Total Debt Securities | $ | 1,033,361 |  |  | $ | 1,043,258 |
(a)Mortgage-backed and collateralized mortgage securities, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their prepayment speeds. Mortgage-Backed Securities include an amortized cost of $275.0 million and a fair value of $279.6 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $724.6 million and a fair value of $728.7 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac | [1]
Proceeds from Sale, Gross Gains (Losses) Realized on Sales, Maturities and Other-Than-Temporary Impairment Charges Related to Securities Available for Sale | Proceeds from sales, gross gains (losses) realized on sales, maturities and other-than-temporary impairment charges related to securities available for sale were as follows for the three months ended March 31:
| 2021 |  | 2020
| (dollars in thousands)
Proceeds from sales | $ | — |  |  | $ | — |
Gross gains (losses) realized: |  |  |
Sales transactions: |  |  |
Gross gains | $ | — |  |  | $ | — |
Gross losses | — |  |  | — |
| — |  |  | — |
Maturities |  |  |
Gross gains | 6 |  |  | 19 |
Gross losses | — |  |  | — |
| 6 |  |  | 19 |
Net gains and impairment | $ | 6 |  |  | $ | 19 |
Debt Securities, Held-to-maturity [Table Text Block] | Below is an analysis of the amortized cost and fair values of debt securities held to maturity at:
| March 31, 2021 |  | December 31, 2020
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
| (dollars in thousands)
Obligations of U.S. Government Agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Residential | $ | 2,679 |  |  | $ | 123 |  |  | $ | — |  |  | $ | 2,802 |  |  | $ | 2,766 |  |  | $ | 138 |  |  | $ | — |  |  | $ | 2,904 |
Mortgage-Backed Securities- Commercial | 58,484 |  |  | 992 |  |  | (512) |  |  | 58,964 |  |  | 36,799 |  |  | 1,441 |  |  | — |  |  | 38,240 |
Obligations of U.S. Government-Sponsored Enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Residential | 279,970 |  |  | 4,134 |  |  | (3,763) |  |  | 280,341 |  |  | 277,351 |  |  | 5,389 |  |  | (10) |  |  | 282,730 |
Mortgage-Backed Securities – Commercial | 9,121 |  |  | 316 |  |  | — |  |  | 9,437 |  |  | 9,737 |  |  | 344 |  |  | — |  |  | 10,081 |
Obligations of States and Political Subdivisions | 35,109 |  |  | 484 |  |  | (264) |  |  | 35,329 |  |  | 34,391 |  |  | 705 |  |  | — |  |  | 35,096 |
Debt Securities Issued by Foreign Governments | 800 |  |  | — |  |  | — |  |  | 800 |  |  | 800 |  |  | — |  |  | — |  |  | 800 |
Total Securities Held to Maturity | $ | 407,833 |  |  | $ | 6,049 |  |  | $ | (5,764) |  |  | $ | 408,118 |  |  | $ | 361,844 |  |  | $ | 8,017 |  |  | $ | (10) |  |  | $ | 369,851 |
Schedule of Held-to-Maturity Securities by Maturity [Table Text Block] | The amortized cost and estimated fair value of debt securities held to maturity at March 31, 2021, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties.
| Amortized Cost |  | Estimated Fair Value
| (dollars in thousands)
Due within 1 year | $ | 2,887 |  |  | $ | 2,904 |
Due after 1 but within 5 years | 5,117 |  |  | 5,179 |
Due after 5 but within 10 years | 45,774 |  |  | 44,717 |
Due after 10 years | 3,801 |  |  | 3,774 |
| 57,579 |  |  | 56,574 |
Mortgage-Backed Securities (a) | 350,254 |  |  | 351,544 |
Total Debt Securities | $ | 407,833 |  |  | $ | 408,118 |
(a)Mortgage-backed and collateralized mortgage securities, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their prepayment speeds. Mortgage-Backed Securities include an amortized cost of $61.2 million and a fair value of $61.8 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $289.1 million and a fair value of $289.8 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac. |
Schedule of Temporary Impairment Losses, Investments | The following table presents the gross unrealized losses and estimated fair values at March 31, 2021 for both available for sale and held to maturity securities by investment category and time frame for which securities have been in a continuous unrealized loss position:
| Less Than 12 Months |  |  | 12 Months or More |  |  | Total
| Estimated Fair Value |  | Gross Unrealized Losses |  |  | Estimated Fair Value |  | Gross Unrealized Losses |  |  | Estimated Fair Value |  | Gross Unrealized Losses
| (dollars in thousands)
Obligations of U.S. Government Agencies: |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Commercial | $ | 91,266 |  |  | $ | (1,098) |  |  |  | $ | — |  |  | $ | — |  |  |  | $ | 91,266 |  |  | $ | (1,098) |
Obligations of U.S. Government-Sponsored Enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Residential | 481,498 |  |  | (10,788) |  |  |  | — |  |  | — |  |  |  | 481,498 |  |  | (10,788) |
Other Government-Sponsored Enterprises | 21,421 |  |  | (1,250) |  |  |  | — |  |  | — |  |  |  | 21,421 |  |  | (1,250) |
Obligations of States and Political Subdivisions | 16,919 |  |  | (478) |  |  |  | — |  |  | — |  |  |  | 16,919 |  |  | (478) |
Corporate Securities | 5,125 |  |  | (75) |  |  |  | — |  |  | — |  |  |  | 5,125 |  |  | (75) |
Total Securities | $ | 616,229 |  |  | $ | (13,689) |  |  |  | $ | — |  |  | $ | — |  |  |  | $ | 616,229 |  |  | $ | (13,689) |
At March 31, 2021, fixed income securities issued by U.S. Government-sponsored enterprises comprised 88% of total unrealized losses due to changes in market interest rates. At March 31, 2021, there are 49 debt securities in an unrealized loss position. The following table presents the gross unrealized losses and estimated fair values at December 31, 2020 by investment category and time frame for which securities have been in a continuous unrealized loss position:
| Less Than 12 Months |  |  | 12 Months or More |  |  | Total
| Estimated Fair Value |  | Gross Unrealized Losses |  |  | Estimated Fair Value |  | Gross Unrealized Losses |  |  | Estimated Fair Value |  | Gross Unrealized Losses
| (dollars in thousands)
Obligations of U.S. Government-Sponsored Enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Residential | $ | 3,755 |  |  | $ | (10) |  |  |  | $ | — |  |  | $ | — |  |  |  | $ | 3,755 |  |  | $ | (10) |
Total Securities | $ | 3,755 |  |  | $ | (10) |  |  |  | $ | — |  |  | $ | — |  |  |  | $ | 3,755 |  |  | $ | (10) |
[1] | Mortgage-backed and collateralized mortgage securities, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their prepayment speeds. Mortgage-Backed Securities include an amortized cost of $61.2 million and a fair value of $61.8 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $289.1 million and a fair value of $289.8 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac.

X
- Definition Investment Securities [Abstract] + References No definition available. + Details
Name: | fcf_InvestmentSecuritiesAbstract
Namespace Prefix: | fcf_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition [Table Text Block] for Schedule of Held-to-Maturity Securities by Maturity [Table] + References No definition available. + Details
Name: | fcf_ScheduleofHeldtoMaturitySecuritiesbyMaturityTableTextBlock
Namespace Prefix: | fcf_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. + References No definition available. + Details
Name: | us-gaap_AvailableForSaleSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=121645371&loc=SL120269825-111563 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=121645371&loc=SL120269820-111563 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27232-111563 + Details
Name: | us-gaap_HeldToMaturitySecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27357-111563 + Details
Name: | us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of investments in an unrealized loss position for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), including: (a) the aggregate related fair value of investments with unrealized losses, (b) the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27290-111563 + Details
Name: | us-gaap_ScheduleOfTemporaryImpairmentLossesInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration