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Capital | 12 Months Ended
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Dec. 31, 2023
Disclosure Capital Additional Information [Abstract] |
Capital | Capital At December 31, 2023, shareholders’ equity was $1.3 billion, an increase of $262.2 million from December 31, 2022. The increase was due to $141.4 million in common stock issued in connection with the Centric acquisition, $157.1 million in net income and a $25.9 million increase in the fair value of available for sale securities. This was partially offset by $50.8 million of dividends paid to shareholders and $15.1 million of common stock repurchases. Cash dividends declared per common share were $0.495, $0.475 and $0.455 for the years ended December 31, 2023, 2022 and 2021, respectively. In October 2021, the Board of Directors authorized a $25.0 million share repurchase program of the Company's common stock. On April 24, 2023, the Board of Directors authorized a $25.0 million increase in the share repurchase program. As of December 31, 2023, 2,491,577 shares at an average price of $13.08 have been repurchased. First Commonwealth may suspend or discontinue the program at any time.

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