First Commonwealth Financial Corporation (FCF) Financial Statements (2024 and earlier)

Company Profile

Business Address 601 PHILADELPHIA STREET
INDIANA, PA 15701
State of Incorp. PA
Fiscal Year End December 31
Industry (SIC) 6021 - National Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments153,193155,444396,572358,281123,556100,617
Cash and cash equivalents146,993154,244395,372356,581121,85698,947
Short-term investments 6,2001,2001,2001,7001,7001,670
Total current assets:153,193155,444396,572358,281123,556100,617
Noncurrent Assets
Operating lease, right-of-use asset45,00540,74740,55042,617 
Property, plant and equipment121,015115,106120,775125,517137,26880,474
Long-term investments and receivables      
Long-term investments      
Intangible assets, net (including goodwill)386,535312,533314,516316,820319,694287,240
Goodwill363,715303,328303,328303,328303,328274,202
Intangible assets, net (excluding goodwill)22,8209,20511,18813,49216,36613,038
Total noncurrent assets:552,555468,386475,841484,954456,962367,714
Other undisclosed assets10,753,7409,181,8368,672,6808,224,8697,728,2557,359,924
TOTAL ASSETS:11,459,4889,805,6669,545,0939,068,1048,308,7737,828,255
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt597,835372,694138,315117,373201,853729,040
Total current liabilities:597,835372,694138,315117,373201,853729,040
Noncurrent Liabilities
Long-term debt and lease obligation, including:186,757181,224    
Other undisclosed long-term debt and lease obligation186,757181,224    
Total noncurrent liabilities:186,757181,224    
Other undisclosed liabilities9,360,6228,199,6748,297,4067,882,1147,051,2556,123,826
Total liabilities:10,145,2148,753,5928,435,7217,999,4877,253,1086,852,866
Equity
Equity, attributable to parent1,314,2741,052,0741,109,3721,068,6171,055,665975,389
Common stock123,603113,915113,915113,915113,915113,915
Treasury stock, value(208,839)(196,443)(183,156)(153,828)(134,914)(130,867)
Additional paid in capital630,154497,431496,121494,683493,737492,273
Accumulated other comprehensive income (loss)(111,756)(137,692)(8,768)17,2335,579(11,341)
Retained earnings881,112774,863691,260596,614577,348511,409
Total equity:1,314,2741,052,0741,109,3721,068,6171,055,665975,389
TOTAL LIABILITIES AND EQUITY:11,459,4889,805,6669,545,0939,068,1048,308,7737,828,255

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues550,321350,122324,025332,650345,405310,392
Net investment income529,998329,953293,838301,209325,264292,257
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
 (14,813)(21,106) (56,718)(14,533)(12,531)
Other undisclosed gross profit      
Gross profit:535,508329,016324,025275,932330,872297,861
Operating expenses(60,084)(47,125)(42,243)(41,124)(47,100)(42,052)
Other operating income, net
(Noninterest Income, Other Operating Income)
9,38810,2638,1857,8927,2686,790
Operating income:484,812292,154289,967242,700291,040262,599
Nonoperating income
(Bank Owned Life Insurance Income)
4,8755,4596,4336,5526,0026,686
Interest and debt expense(144,322)(17,732)(15,297)(32,938)(55,402)(40,035)
Other undisclosed loss from continuing operations before equity method investments, income taxes   (108,286)(126,111)(110,791)(96,478)
Income from continuing operations before equity method investments, income taxes:345,365279,881172,81790,203130,849132,772
Other undisclosed loss from continuing operations before income taxes(147,810)(119,696)    
Income from continuing operations before income taxes:197,555160,185172,81790,203130,849132,772
Income tax expense(40,492)(32,004)(34,560)(16,756)(25,516)(25,274)
Income from continuing operations:157,063128,181138,25773,447105,333107,498
Income before gain (loss) on sale of properties:138,25773,447105,333107,498
Net income available to common stockholders, diluted:157,063128,181138,25773,447105,333107,498

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:157,063128,181138,25773,447105,333107,498
Other comprehensive income (loss)25,936(128,924)(26,001)11,65416,920(3,824)
Comprehensive income (loss), net of tax, attributable to parent:182,999(743)112,25685,101122,253103,674

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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