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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, 2024
Condensed Financial Information Disclosure [Abstract] |
Statements of Financial Condition |
Statements of Financial Condition | December 31,
| 2024 |  | 2023
| (dollars in thousands)
Assets |  |  |
Cash | $ | 86,909 |  |  | $ | 60,123 |
Loans | 3 |  |  | 5 |
Investment in subsidiaries | 1,378,052 |  |  | 1,292,666 |
Investment in unconsolidated subsidiary trusts | 2,204 |  |  | 2,207 |
Investment in jointly-owned company | 438 |  |  | 483 |
Premises and equipment, net | 3,184 |  |  | 2,837 |
Receivable from subsidiaries | — |  |  | 1 |
Dividends receivable from subsidiaries | 6,772 |  |  | 8,769 |
Other assets | 17,546 |  |  | 35,005 |
Total assets | $ | 1,495,108 |  |  | $ | 1,402,096 |
Liabilities and Shareholders’ Equity |  |  |
Accrued expenses and other liabilities | $ | 11,048 |  |  | $ | 9,014 |
Subordinated debentures payable | 78,895 |  |  | 78,808 |
Shareholders’ equity | 1,405,165 |  |  | 1,314,274 |
Total liabilities and shareholders’ equity | $ | 1,495,108 |  |  | $ | 1,402,096 |
Statements of Operations |
Statements of Income | For the years ended December 31,
| 2024 |  | 2023 |  | 2022
| (dollars in thousands)
Interest and dividends | $ | 242 |  |  | $ | 234 |  |  | $ | 78 |
Dividends from subsidiaries | 75,227 |  |  | 107,683 |  |  | 92,082 |
Interest expense | (4,098) |  |  | (3,656) |  |  | (3,245) |
Other income | — |  |  | — |  |  | 112 |
Operating expense | (5,841) |  |  | (6,631) |  |  | (4,747) |
Income before taxes and equity in undistributed earnings of subsidiaries | 65,530 |  |  | 97,630 |  |  | 84,280 |
Applicable income tax benefits | 2,018 |  |  | 2,087 |  |  | 1,625 |
Income before equity in undistributed earnings of subsidiaries | 67,548 |  |  | 99,717 |  |  | 85,905 |
Equity in undistributed earnings of subsidiaries | 75,024 |  |  | 57,346 |  |  | 42,276 |
Net income | $ | 142,572 |  |  | $ | 157,063 |  |  | $ | 128,181 |
Statements of Cash Flow |
| For the years ended December 31,
Statements of Cash Flow | 2024 |  | 2023 |  | 2022
| (dollars in thousands)
Operating Activities |  |  |  |  |
Net income | $ | 142,572 |  |  | $ | 157,063 |  |  | $ | 128,181 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Depreciation and amortization | 300 |  |  | 320 |  |  | 335 |
Net gains (losses) on sales of assets | — |  |  | — |  |  | (113) |
Decrease (increase) in prepaid income taxes | 19,809 |  |  | (20,307) |  |  | — |
Undistributed equity in subsidiaries | (75,024) |  |  | (57,346) |  |  | (42,276) |
Other net | 4,778 |  |  | 7,151 |  |  | — |
Net cash provided by operating activities | 92,435 |  |  | 86,881 |  |  | 86,127 |
Investing Activities |  |  |  |  |
Net change in loans | 2 |  |  | 2 |  |  | 2 |
Purchases of premises and equipment | (609) |  |  | (23) |  |  | (152) |
Investment in subsidiaries | — |  |  | 1,120 |  |  | — |
Investment in jointly-owned companies | (14) |  |  | (18) |  |  | — |
Net cash provided by (used in) investing activities | (621) |  |  | 1,081 |  |  | (150) |
Financing Activities |  |  |  |  |
Dividends paid | (52,602) |  |  | (50,814) |  |  | (44,578) |
Proceeds from reissuance of treasury stock | 204 |  |  | 245 |  |  | 245 |
Purchase of treasury stock | (12,630) |  |  | (14,965) |  |  | (15,598) |
Net cash used in financing activities | (65,028) |  |  | (65,534) |  |  | (59,931) |
Net increase (decrease) in cash | 26,786 |  |  | 22,428 |  |  | 26,046 |
Cash at beginning of year | 60,123 |  |  | 37,695 |  |  | 11,649 |
Cash at end of year | $ | 86,909 |  |  | $ | 60,123 |  |  | $ | 37,695 |

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