First Commonwealth Announces Third Quarter 2026 Earnings; Declares Quarterly Dividend and Announces Additional Share Repurchase Authorization

INDIANA, Pa., Oct. 27, 2026 (GLOBE NEWSWIRE) -- First Commonwealth Financial Corporation (NYSE: FCF) today announced financial results for the third quarter of 2026. Financial Summary (dollars in thousands, For the Three Months Ended For the Nine Months Ended except per share data) September 30, June 30, September 30, September 30, September 30, 2026 2026 2025 2026 2025 Reported Results Net income $ 44,943 $ 44,589 $ 41,328 $ 127,080 $ 107,426 Diluted earnings per share $ 0.45 $ 0.44 $ 0.39 $ 1.25 $ 1.04 Return on average assets 1.46 % 1.47 % 1.34 % 1.39 % 1.20 % Return on average equity 11.44 % 11.44 % 10.71 % 10.88 % 9.67 % Operating Results (non-GAAP) (1) Core net income $ 45,442 $ 44,427 $ 41,166 $ 127,329 $ 113,442 Core diluted earnings per share $ 0.45 $ 0.44 $ 0.39 $ 1.26 $ 1.10 Core pre-tax pre-provision net revenue $ 65,495 $ 64,999 $ 62,942 $ 188,348 $ 168,498 Provision expense $ 14,188 $ 8,931 $ 11,327 $ 33,852 $ 25,961 Provision for credit losses - acquisition day 1 non-PCD $ — $ — $ — $ — $ 3,759 Net charge-offs $ 4,581 $ 11,441 $ 12,247 $ 24,183 $ 18,103 Reserve build/(release) (2) $ 6,100 $ (1,758 ) $ (3,361 ) $ 7,757 $ 10,699 Core return on average assets (ROAA) 1.48 % 1.46 % 1.34 % 1.40 % 1.26 % Core pre-tax pre-provision ROAA 2.13 % 2.14 % 2.05 % 2.06 % 1.88 % Return on average tangible common equity 15.73 % 15.71 % 14.96 % 14.98 % 13.55 % Core return on average tangible common equity 15.90 % 15.66 % 14.90 % 15.01 % 14.29 % Core efficiency ratio 53.15 % 52.24 % 52.30 % 53.58 % 54.98 % Net interest margin (FTE) 4.11 % 4.01 % 3.92 % 4.02 % 3.79 % (1) Core operating results are a non-GAAP measure used by management to measure performance in operating the business that management believes enhances investors' ability to better understand the underlying business performance and trends related to core business activities. A full reconciliation of non-GAAP financial measures may be found at the end of the financial statements which accompany this release. (2) Reserve build/(release) represents the net change in the Company's allowance for credit losses (ACL) from the prior period. Third Quarter 2026 Highlights GAAP Net income of $44.9 million and diluted earnings per share of $0.45 represented an increase of $0.4 million, or $0.01 per share, from the prior quarter and an increase of $3.6 million, or $0.06 per share, from the third quarter of 2025 Core net income (1) of $45.4 million and core earnings per share of $0.45 represented an increase of $1.0 million, or $0.01 per share, from the prior quarter and an increase of $4.3 million, or $0.06 per share, from the third quarter of 2025 Core pre-tax pre-provision net revenue (PPNR) (1) totaled $65.5 million, an increase of $0.5 million from the previous quarter and an increase of $2.6 million from the third quarter of 2025 Net interest income (FTE) of $116.7 million increased $3.9 million from the previous quarter and increased $5.3 million from the third quarter of 2025 Noninterest income (excluding securities gains of $0.3 million in 2Q26) of $26.7 million was unchanged from the previous quarter and increased $2.2 million from the third quarter of 2025 Noninterest expense (excluding merger-related expense of $0.1 million in 3Q26, $0.1 million in 2Q26, and $0.2 million in 3Q25) of $78.1 million increased $4.0 million from the previous quarter and increased $5.4 million from the third quarter of 2025 Income tax provision decreased $6.0 million from the previous quarter due to $4.7 million in Federal income tax credits recognized in the third quarter of 2026 Total loans increased $63.4 million, or 2.6% annualized, from the previous quarter End-of period deposits increased $13.8 million, or 0.5% annualized, compared to the prior quarter Average deposits decreased $87.1 million, or 3.3% annualized, compared to the prior quarter The loan-to-deposit ratio increased to 93.2% at the end of the third quarter of 2026 as compared to 92.7% at the end of the previous quarter Profitability The net interest margin of 4.11% increased 10 basis points compared to the prior quarter and increased 19 basis points from the third quarter of 2025 The core efficiency ratio (1) increased 91 basis points to 53.15% compared to the prior quarter and increased 85 basis points from the third quarter of 2025 Core ROAA increased two basis points to 1.48% compared to the prior quarter and increased 14 basis points from the third quarter of 2025 Core pre-tax pre-provision ROAA (1) decreased one basis points to 2.13% compared to the prior quarter and increased eight basis points from the third quarter of 2025 Core return on average tangible common equity (ROATCE) (1) increased 24 basis points to 15.90% compared to the prior quarter and increased 100 basis points from the third quarter of 2025 Asset quality The provision for credit losses was $14.2 million, an increase of $5.3 million compared to the previous quarter The allowance for credit losses as a percentage of period-end loans was 1.40%, an increase of five basis points from the previous quarter Total nonperforming loans of $95.2 million increased $13.6 million from the previous quarter Net charge-offs on loans totaled $4.6 million, a decrease of $6.9 million from the previous quarter Net charge-offs as a percentage of average loans (annualized) was 0.19% in the third quarter of 2026, as compared to 0.49% in the previous quarter Strong capital positions The Common Equity Tier I Capital Ratio was 11.9% at September 30, 2026, which represents $539.4 million in excess capital above the regulatory “well capitalized” requirement of 6.5% A total of 4,156,764 shares at a weighted average price of $21.18 were repurchased during the third quarter of 2026 under the Company’s previously authorized share repurchase programs. On October 27, 2026, the Board of Directors authorized an additional $25 million share repurchase program. “Third-quarter results reflected higher revenue, net interest margin expansion and modest loan growth, alongside a higher provision expense and operating expenses,” stated T. Michael Price, President and Chief Executive Officer. “Our near-term priorities include continuing to improve credit performance, generating profitable growth and controlling expenses to create positive operating leverage. We believe a mission-driven community bank of our size remains important and relevant to our stakeholders.” Earnings GAAP net income for the third quarter of 2026 was $44.9 million, or $0.45 per share, compared to $44.6 million, or $0.44 per share in the second quarter of 2026, and $41.3 million, or $0.39 per share for the third quarter of 2025. Core net income for the third quarter of 2026 was $45.4 million, or $0.45 per share, compared to $44.4 million, or $0.44 per share in the second quarter of 2026, and $41.2 million, or $0.39 per share for the third quarter of 2025. Net Interest Income and Net Interest Margin Net interest income (FTE) of $116.7 million increased $3.9 million from the previous quarter and increased $5.3 million from the prior-year quarter. The increase from the previous quarter was primarily due to a 10 basis point expansion in the net interest margin and one additional day in the quarter. The net interest margin for the third quarter of 2026 was 4.11%, an increase of 10 basis points from the previous quarter and an increase of 19 basis points from the third quarter of 2025. The increase from the previous quarter was primarily due to a seven basis point decrease in the cost of deposits and a $104.8 million increase in average loans combined with a $106.7 million decrease in average cash balances. The net interest margin benefitted further by a two basis points increase in the yield on loans primarily due to higher yields on variable/adjustable loans and the upward repricing of fixed rate loans. The total cost of funds was 1.74% in the third quarter of 2026, which represents a decrease of five basis points from the previous quarter. Total average deposits decreased $87.1 million, or 3.3% annualized, in the third quarter of 2026 as compared to the previous quarter. Average time deposits decreased $163.8 million and average noninterest-bearing deposits grew $72.4 million. Asset Quality Provision expense in the third quarter of 2026 totaled $14.2 million as compared to $8.9 million in the previous quarter. The increase from the prior quarter was due to a $3.5 million increase in reserves for unfunded commitments and a $6.7 million increase in reserves primarily for three individually analyzed commercial credits, two of which were transferred to nonaccrual status during the third quarter of 2026. The allowance for credit losses as a percentage of end-of-period loans in the third quarter of 2026 was 1.40% as compared to 1.35% in the previous quarter. At September 30, 2026, nonperforming loans totaled $95.2 million, an increase of $13.6 million from the previous quarter. The increase in nonperforming loans was primarily due to the migration of two commercial credits with an aggregate balance of $21.0 million to nonaccrual status. Nonperforming loans represented 0.99% of total loans for the period ended September 30, 2026 as compared to 0.86% and 0.91% for the periods ended June 30, 2026 and September 30, 2025, respectively. During the third quarter of 2026, net charge-offs were $4.6 million as compared to $11.4 million in the previous quarter and $12.2 million in the third quarter of 2025. The decrease from the previous quarter was primarily due to the resolution of six commercial credits with an aggregate balance of $6.9 million in the previous quarter. Net charge-offs as a percentage of average loans (annualized) were 0.19%, 0.49% and 0.50% for the periods ended September 30, 2026, June 30, 2026 and September 30, 2025, respectively. Noninterest Income and Noninterest Expense Noninterest income (excluding securities gains of $0.3 million in 2Q26 and $0.4 million in 3Q25) of $26.7 million for the third quarter of 2026 was unchanged from $26.7 million for the second quarter of 2026 but increased by $2.2 million from $24.5 million for the third quarter of 2025. Swap fee income increased $0.3 million, Trust income increased $0.3 million and gain on sale of Mortgage loans increased $0.2 million. These were offset by a $0.8 million decrease in gains on the redemption of subordinated debt, which was recognized in the previous quarter. Noninterest expense (excluding merger-related expense of $0.1 million in 3Q26, $0.1 million in 2Q26 and $0.2 million in 3Q25) was $78.1 million for the third quarter of 2026, as compared to $74.1 million in the second quarter of 2026 and $72.7 million in the third quarter of 2025. The $4.0 million increase in noninterest expense from the previous quarter was driven by a $1.6 million increase in salaries and benefits, a $0.8 million increase in the loss on sale or write-down of assets due to the termination of a sale leaseback agreement, a $0.7 million increase in furniture and equipment and a $0.7 million increase in FDIC insurance due to a lower assessment rate in the previous quarter. The core efficiency ratio was 53.15% during the third quarter of 2026 as compared to 52.24% in the previous quarter and 52.30% in the third quarter of 2025. Full time equivalent staff was 1,575, 1,589 and 1,548 at September 30, 2026, June 30, 2026 and September 30, 2025, respectively. Tax, Dividends and Capital During the third quarter, the Company purchased $54.7 million in renewable energy tax credits at a discount, a process which began in the second quarter. The Company intends to apply these credits towards its federal tax liability for 2025 and prior tax years. The purchase of these credits reduced taxes payable by $4.7 million in the third quarter. First Commonwealth Financial Corporation declared a common stock quarterly dividend of $0.14 per share, which represents a 3.7% increase from the third quarter of 2025. The cash dividend is payable on November 20, 2026 to shareholders of record as of November 6, 2026. This dividend represents a 2.6% projected annual yield utilizing the October 26, 2026 closing market price of $21.19. On October 27, 2026, the Board of Directors authorized an additional $25 million share repurchase program. First Commonwealth’s capital ratios for Total, Tier I, Leverage and Common Equity Tier I at September 30, 2026 were 14.3%, 12.6%, 10.6% and 11.9%, respectively. First Commonwealth’s current capital levels exceed the fully phased-in Basel III capital requirements issued by U.S. bank regulators. Conference Call First Commonwealth will host a quarterly conference call to discuss its financial results for the third quarter of 2026 on Wednesday, October 28, 2026 at 2:00 PM (ET). The call can be accessed by dialing (toll free) +1 833-461-5787 conference ID # 201 203 787 or through the Company’s web page, http://www.fcbanking.com/InvestorRelations. A link to the webcast replay will also be accessible on the Company’s webpage for 30 days. About First Commonwealth Financial Corporation First Commonwealth Financial Corporation (NYSE: FCF), headquartered in Indiana, Pennsylvania, is a financial services Company with 126 community banking offices in 30 counties throughout western and central Pennsylvania and throughout Ohio, as well as commercial lending operations in Pittsburgh and Harrisburg, Pennsylvania, and Canton, Cleveland, Columbus and Cincinnati, Ohio. The Company also operates mortgage offices in Wexford, Pennsylvania, as well as Hudson and Lewis Center, Ohio. First Commonwealth provides a full range of commercial banking, consumer banking, mortgage, equipment finance, wealth management and insurance products and services through its subsidiaries First Commonwealth Bank and First Commonwealth Insurance Agency. For more information about First Commonwealth or to open an account today, please visit www.fcbanking.com. Forward-Looking Statements Certain statements contained in this release that are not historical facts may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, notwithstanding that such statements are not specifically identified as such. In addition, certain statements may be contained in our future filings with the Securities and Exchange Commission, in press releases, and in oral and written statements made by us or with our approval that are not statements of historical fact and constitute “forward-looking statements” as well. These statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of words such as “may,” “will,” “should,” “could,” “would,” “plan,” “believe,” “expect,” “anticipate,” “intend,” “estimate” or words of similar meaning. These forward-looking statements are subject to significant risks, assumptions and uncertainties, and could be affected by many factors, including, but not limited to: (1) volatility and disruption in national and international financial markets; (2) the effects of and changes in trade and monetary and fiscal policies and laws, including the interest rate policies of the Federal Reserve Board; (3) inflation, interest rate, commodity price, securities market and monetary fluctuations; (4) the effect of changes in laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) with which First Commonwealth or its customers must comply; (5) the soundness of other financial institutions; (6) political instability; (7) impairment of First Commonwealth’s goodwill or other intangible assets; (8) acts of God or of war or terrorism; (9) the timely development and acceptance of new products and services and perceived overall value of these products and services by users; (10) changes in consumer spending, borrowings and savings habits; (11) changes in the financial performance and/or condition of First Commonwealth’s borrowers; (12) technological changes; (13) acquisitions and integration of acquired businesses; (14) First Commonwealth’s ability to attract and retain qualified employees; (15) changes in the competitive environment in First Commonwealth’s markets and among banking organizations and other financial service providers; (16) the ability to increase market share and control expenses; (17) the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board and other accounting standard setters; (18) the reliability of First Commonwealth’s vendors, internal control systems or information systems; (19) the costs and effects of legal and regulatory developments, the resolution of legal proceedings or regulatory or other governmental inquiries, the results of regulatory examinations or reviews and the ability to obtain required regulatory approvals; and (20) other risks and uncertainties described in this report and in the other reports that we file with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K. In light of these risks, uncertainties and assumptions, you should not place undue reliance on any forward-looking statements in this release. We undertake no obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, future events or otherwise. Media Relations: Ron Wahl Communications and Media Relations Phone: 724-463-6806 E-mail: RWahl@fcbanking.com Investor Relations: Ryan M. Thomas Vice President / Finance and Investor Relations Phone: 724-463-1690 E-mail: RThomas1@fcbanking.com FIRST COMMONWEALTH FINANCIAL CORPORATION CONSOLIDATED FINANCIAL DATA Unaudited (dollars in thousands, except per share data) For the Three Months Ended For the Nine Months Ended September 30, June 30, September 30, September 30, September 30, 2026 2026 2025 2026 2025 SUMMARY RESULTS OF OPERATIONS Net interest income $ 116,320 $ 112,442 $ 111,123 $ 337,736 $ 312,886 Provision for credit losses 14,188 8,931 11,327 33,852 25,961 Provision for credit losses — acquisition day 1 non-PCD — — — — 3,759 Noninterest income 26,727 26,997 24,857 78,311 72,108 Noninterest expense 78,184 74,235 72,834 228,014 220,352 Net income 44,943 44,589 41,328 127,080 107,426 Core net income (5) 45,442 44,427 41,166 127,329 113,442 Earnings per common share (diluted) $ 0.45 $ 0.44 $ 0.40 $ 1.25 $ 1.04 Core earnings per common share (diluted) (6) $ 0.45 $ 0.44 $ 0.39 $ 1.26 $ 1.10 KEY FINANCIAL RATIOS Return on average assets 1.46 % 1.47 % 1.34 % 1.39 % 1.20 % Core return on average assets (7) 1.48 % 1.46 % 1.34 % 1.40 % 1.26 % Return on average assets, pre-provision, pre-tax 2.11 % 2.15 % 2.05 % 2.06 % 1.83 % Core return on average assets, pre-provision, pre-tax 2.13 % 2.14 % 2.05 % 2.06 % 1.88 % Return on average shareholders' equity 11.44 % 11.44 % 10.71 % 10.88 % 9.67 % Return on average tangible common equity (8) 15.73 % 15.71 % 14.96 % 14.98 % 13.55 % Core return on average tangible common equity (9) 15.90 % 15.66 % 14.90 % 15.01 % 14.29 % Core efficiency ratio (2)(10) 53.15 % 52.24 % 52.30 % 53.58 % 54.98 % Net interest margin (FTE) (1) 4.11 % 4.01 % 3.92 % 4.02 % 3.79 % Book value per common share $ 15.31 $ 15.52 $ 14.78 Tangible book value per common share (11) 11.20 11.58 10.94 Market value per common share 20.23 20.33 17.05 Cash dividends declared per common share 0.140 0.140 0.135 0.415 0.400 ASSET QUALITY RATIOS Nonperforming loans and leases as a percent of end-of-period loans and leases (3) 0.99 % 0.86 % 0.91 % Nonperforming assets as a percent of total assets (3) 0.83 % 0.70 % 0.74 % Net charge-offs as a percent of average loans and leases (annualized) (4) 0.19 % 0.49 % 0.51 % Allowance for credit losses as a percent of nonperforming loans and leases (4) 140.20 % 156.08 % 148.04 % Allowance for credit losses as a percent of end-of-period loans and leases (4) 1.40 % 1.35 % 1.34 % CAPITAL RATIOS Shareholders' equity as a percent of total assets 12.2 % 12.9 % 12.5 % Tangible common equity as a percent of tangible assets (12) 9.2 % 9.9 % 9.6 % Leverage Ratio 10.6 % 11.1 % 10.8 % Risk Based Capital - Tier I 12.6 % 13.4 % 12.7 % Risk Based Capital - Total 14.3 % 15.1 % 14.4 % Common Equity - Tier I 11.9 % 12.6 % 12.0 % FIRST COMMONWEALTH FINANCIAL CORPORATION CONSOLIDATED FINANCIAL DATA Unaudited (dollars in thousands, except per share data) For the Three Months Ended For the Nine Months Ended September 30, June 30, September 30, September 30, September 30, 2026 2026 2025 2026 2025 INCOME STATEMENT Interest income $ 162,309 $ 159,322 $ 162,709 $ 478,849 $ 468,763 Interest expense 45,989 46,880 51,586 141,113 155,877 Net Interest Income 116,320 112,442 111,123 337,736 312,886 Provision for credit losses 14,188 8,931 11,327 33,852 25,961 Provision for credit losses - acquisition day 1 non-PCD — — — — 3,759 Net Interest Income after Provision for Credit Losses 102,132 103,511 99,796 303,884 283,166 Net securities gains (losses) 33 311 369 573 (4,773 ) Gain on sale of VISA — — — — 5,146 Trust income 3,900 3,583 3,477 10,891 9,528 Service charges on deposit accounts 5,990 5,744 5,913 17,264 16,946 Insurance and retail brokerage commissions 2,920 3,085 3,499 9,272 9,766 Income from bank owned life insurance 1,990 2,144 1,712 5,930 5,152 Gain on sale of mortgage loans 2,512 2,337 2,132 7,064 5,355 Gain on sale of other loans and assets 2,275 2,028 1,085 6,485 4,690 Gain on early redemption of subordinated debt — 806 — 806 — Card-related interchange income 3,980 4,005 3,985 11,646 11,637 Derivative mark-to-market 95 95 2 184 (151 ) Swap fee income 721 383 243 1,226 1,517 Other income 2,311 2,476 2,440 6,970 7,295 Total Noninterest Income 26,727 26,997 24,857 78,311 72,108 Salaries and employee benefits 44,351 42,734 40,717 129,959 121,716 Net occupancy 5,311 5,017 5,110 15,893 15,733 Furniture and equipment 4,858 4,174 4,427 13,855 13,167 Data processing 4,416 4,152 4,260 12,751 12,162 Pennsylvania shares tax 1,593 1,505 1,337 4,428 4,012 Advertising and promotion 1,746 1,438 1,931 4,855 4,760 Intangible amortization 1,341 1,303 1,567 4,008 4,009 Other professional fees and services 1,653 1,650 1,843 4,409 5,366 FDIC insurance 1,802 1,147 1,653 4,538 4,582 Litigation and operational losses 457 776 582 2,090 1,845 Loss on sale or write-down of assets 911 86 87 1,564 373 Merger and acquisition 84 106 165 307 4,229 Other operating expenses 9,661 10,147 9,155 29,357 28,398 Total Noninterest Expense 78,184 74,235 72,834 228,014 220,352 Income before Income Taxes 50,675 56,273 51,819 154,181 134,922 Income tax provision 5,732 11,684 10,491 27,101 27,496 Net Income $ 44,943 $ 44,589 $ 41,328 $ 127,080 $ 107,426 Shares Outstanding at End of Period 96,927,715 101,101,529 104,293,298 96,927,715 104,293,298 Average Shares Outstanding Assuming Dilution 100,077,971 101,558,853 104,754,917 101,272,158 103,509,902 FIRST COMMONWEALTH FINANCIAL CORPORATION CONSOLIDATED FINANCIAL DATA Unaudited (dollars in thousands) September 30, June 30, September 30, 2026 2026 2025 BALANCE SHEET (Period End) Assets Cash and due from banks $ 93,509 $ 110,327 $ 117,241 Interest-bearing bank deposits 34,502 69,308 44,170 Securities available for sale, at fair value 1,041,738 1,126,573 1,100,437 Securities held to maturity, at amortized cost 555,660 574,542 479,915 Loans held for sale 37,676 44,764 62,566 Loans and leases 9,537,685 9,467,229 9,688,288 Allowance for credit losses (133,525 ) (127,425 ) (129,605 ) Net loans and leases 9,404,160 9,339,804 9,558,683 Goodwill and other intangibles 398,585 398,327 400,851 Other assets 631,105 544,181 546,513 Total Assets $ 12,196,935 $ 12,207,826 $ 12,310,376 Liabilities and Shareholders' Equity Noninterest-bearing demand deposits $ 2,469,526 $ 2,413,605 $ 2,420,235 Interest-bearing demand deposits 1,845,430 1,802,938 1,904,381 Savings deposits 4,403,730 4,360,889 4,103,904 Time deposits 1,555,223 1,682,629 1,802,820 Total interest-bearing deposits 7,804,383 7,846,456 7,811,105 Total deposits 10,273,909 10,260,061 10,231,340 Short-term borrowings 167,672 137,946 149,557 Long-term borrowings 121,700 125,084 262,057 Total borrowings 289,372 263,030 411,614 Other liabilities 149,605 115,567 125,585 Shareholders' equity 1,484,049 1,569,168 1,541,837 Total Liabilities and Shareholders' Equity $ 12,196,935 $ 12,207,826 $ 12,310,376 FIRST COMMONWEALTH FINANCIAL CORPORATION CONSOLIDATED FINANCIAL DATA Unaudited (dollars in thousands) For the Three Months Ended For the Nine Months Ended September 30, Yield/ June 30, Yield/ September 30, Yield/ September 30, Yield/ September 30, Yield/ 2026 Rate 2026 Rate 2025 Rate 2026 Rate 2025 Rate NET INTEREST MARGIN Assets Loans and leases (FTE) (1)(3) $ 9,564,799 6.09 % $ 9,460,013 6.07 % $ 9,653,118 6.08 % $ 9,530,366 6.06 % $ 9,386,232 6.04 % Interest bearing bank deposits 51,682 4.18 % 158,346 3.86 % 40,159 4.85 % 138,700 3.89 % 58,735 4.79 % Securities (FTE) (1) 1,645,861 3.69 % 1,657,454 3.66 % 1,597,369 3.60 % 1,611,454 3.64 % 1,621,458 3.62 % Total Interest-Earning Assets (FTE) (1) 11,262,342 5.73 % 11,275,813 5.68 % 11,290,646 5.73 % 11,280,520 5.69 % 11,066,425 5.68 % Noninterest-earning assets 920,744 915,320 919,357 919,002 931,187 Total Assets $ 12,183,086 $ 12,191,133 $ 12,210,003 $ 12,199,522 $ 11,997,612 Liabilities and Shareholders' Equity Interest-bearing demand and savings deposits $ 6,225,685 1.90 % $ 6,221,376 1.92 % $ 6,064,450 2.03 % $ 6,197,714 1.92 % $ 5,945,303 2.08 % Time deposits 1,605,301 3.29 % 1,769,090 3.43 % 1,734,804 3.66 % 1,730,813 3.43 % 1,748,621 3.85 % Short-term borrowings 111,701 3.56 % 26,854 2.18 % 128,548 3.89 % 57,067 3.08 % 108,877 3.84 % Long-term borrowings 124,970 5.98 % 131,357 5.55 % 262,186 4.97 % 154,591 5.47 % 262,540 4.98 % Total Interest-Bearing Liabilities 8,067,657 2.26 % 8,148,677 2.31 % 8,189,988 2.50 % 8,140,185 2.32 % 8,065,341 2.58 % Noninterest-bearing deposits 2,438,977 2,366,559 2,366,509 2,381,931 2,312,469 Other liabilities 117,992 112,616 122,896 116,092 135,251 Shareholders' equity 1,558,460 1,563,281 1,530,610 1,561,314 1,484,551 Total Noninterest-Bearing Funding Sources 4,115,429 4,042,456 4,020,015 4,059,337 3,932,271 Total Liabilities and Shareholders' Equity $ 12,183,086 $ 12,191,133 $ 12,210,003 $ 12,199,522 $ 11,997,612 Net Interest Margin (FTE) (annualized) (1) 4.11 % 4.01 % 3.92 % 4.02 % 3.79 % FIRST COMMONWEALTH FINANCIAL CORPORATION CONSOLIDATED FINANCIAL DATA Unaudited (dollars in thousands) September 30, June 30, September 30, 2026 2026 2025 Loan and Lease Portfolio Detail Commercial Loan and Lease Portfolio: Commercial, financial, agricultural and other $ 1,295,117 $ 1,286,633 $ 1,374,627 Commercial real estate 3,043,642 3,083,774 3,408,801 Equipment finance loans and leases 827,547 784,754 634,398 Real estate construction 465,766 456,253 403,548 Total Commercial 5,632,072 5,611,414 5,821,374 Consumer Loan Portfolio: Closed-end mortgages 1,820,314 1,811,748 1,858,471 Home equity lines of credit 571,211 556,418 524,254 Real estate construction 31,904 30,413 41,894 Total Real Estate - Consumer 2,423,429 2,398,579 2,424,619 Auto & RV loans 1,416,187 1,390,894 1,370,551 Direct installment 21,919 22,085 24,115 Personal lines of credit 42,412 42,564 45,657 Student loans 1,666 1,693 1,972 Total Other Consumer 1,482,184 1,457,236 1,442,295 Total Consumer Portfolio 3,905,613 3,855,815 3,866,914 Total Portfolio Loans and Leases 9,537,685 9,467,229 9,688,288 Loans held for sale 37,676 44,764 62,566 Total Loans and Leases $ 9,575,361 $ 9,511,993 $ 9,750,854 September 30, June 30, September 30, 2026 2026 2025 ASSET QUALITY DETAIL Nonperforming Loans and Leases: Loans and leases on a nonaccrual basis $ 68,909 $ 50,298 $ 53,178 Loans and leases on a nonaccrual basis - with government guarantees 17,638 22,510 23,444 Loans held for sale on a nonaccrual basis — — 1,138 Loans and leases on a nonaccrual basis - acquired 7,892 8,031 9,928 Loans and leases on a nonaccrual basis - acquired with government guarantees 801 801 997 Total Nonperforming Loans and Leases $ 95,240 $ 81,640 $ 88,685 Other real estate owned ("OREO") 4,534 2,270 853 Repossessions ("Repos") 1,972 1,368 1,503 Total Nonperforming Assets $ 101,746 $ 85,278 $ 91,041 Loans past due in excess of 90 days and still accruing 13,408 3,218 2,117 Classified loans and leases 174,586 148,407 124,902 Criticized loans and leases 288,019 286,497 248,214 Nonperforming assets as a percentage of total loans and leases, plus OREO and Repos (4) 1.07 % 0.90 % 0.94 % Allowance for credit losses $ 133,525 $ 127,425 $ 129,605 FIRST COMMONWEALTH FINANCIAL CORPORATION CONSOLIDATED FINANCIAL DATA Unaudited (dollars in thousands) For the Three Months Ended For the Nine Months Ended September 30, June 30, September 30, September 30, September 30, 2026 2026 2025 2026 2025 Net Charge-offs (Recoveries): Commercial, financial, agricultural and other $ 3,164 $ 7,838 $ 6,927 $ 14,610 $ 7,982 Real estate construction — — 829 326 829 Commercial real estate (211 ) 1,999 3,011 4,056 4,932 Residential real estate 44 267 106 430 149 Loans to individuals 1,584 1,337 1,374 4,761 4,211 Net Charge-offs $ 4,581 $ 11,441 $ 12,247 $ 24,183 $ 18,103 Net charge-offs as a percentage of average loans and leases outstanding (annualized) (4) 0.19 % 0.49 % 0.51 % 0.34 % 0.26 % Provision for credit losses as a percentage of net charge-offs 309.71 % 78.06 % 92.49 % 139.98 % 143.41 % Provision for credit losses $ 14,188 $ 8,931 $ 11,327 $ 33,852 $ 25,961 DEFINITIONS AND RECONCILIATION OF NON-GAAP MEASURES Note: Management believes that it is standard practice in the banking industry to present these non-GAAP measures. These measures provide useful information to management and investors by allowing them to make peer comparisons. (1) Net interest income has been computed on a fully taxable equivalent basis ("FTE") using the federal income tax statutory rate of 21%. (2) Core efficiency ratio excludes from total revenue the impact of derivative mark-to-market and excludes from "total noninterest expense" the amortization of intangibles and any other unusual items deemed by management to not be related to normal operations, such as merger, acquisition and severance costs. (3) Includes held for sale loans. (4) Excludes held for sale loans. For the Three Months Ended For the Nine Months Ended September 30, June 30, September 30, September 30, September 30, 2026 2026 2025 2026 2025 Interest income $ 162,309 $ 159,322 $ 162,709 $ 478,849 $ 468,763 Adjustment to fully taxable equivalent basis (1) 420 385 351 1,166 1,027 Interest income adjusted to fully taxable equivalent basis (non-GAAP) 162,729 159,707 163,060 480,015 469,790 Interest expense 45,989 46,880 51,586 141,113 155,877 Net interest income, (FTE) (1) $ 116,740 $ 112,827 $ 111,474 $ 338,902 $ 313,913 FIRST COMMONWEALTH FINANCIAL CORPORATION CONSOLIDATED FINANCIAL DATA Unaudited (dollars in thousands, except per share data) DEFINITIONS AND RECONCILIATION OF NON-GAAP MEASURES For the Three Months Ended For the Nine Months Ended September 30, June 30, September 30, September 30, September 30, 2026 2026 2025 2026 2025 Net Income $ 44,943 $ 44,589 $ 41,328 $ 127,080 $ 107,426 Intangible amortization 1,341 1,303 1,567 4,008 4,009 Tax benefit of amortization of intangibles (282 ) (274 ) (329 ) (842 ) (842 ) Net Income, adjusted for tax affected amortization of intangibles $ 46,002 $ 45,618 $ 42,566 $ 130,246 $ 110,593 Average Tangible Equity: Total shareholders' equity $ 1,558,460 $ 1,563,281 $ 1,530,610 $ 1,561,314 $ 1,484,551 Less: intangible assets 398,230 398,767 401,825 398,883 393,574 Tangible Equity 1,160,230 1,164,514 1,128,785 1,162,431 1,090,977 Less: preferred stock — — — — — Tangible Common Equity $ 1,160,230 $ 1,164,514 $ 1,128,785 $ 1,162,431 $ 1,090,977 (8) Return on Average Tangible Common Equity 15.73 % 15.71 % 14.96 % 14.98 % 13.55 % For the Three Months Ended For the Nine Months Ended September 30, June 30, September 30, September 30, September 30, 2026 2026 2025 2026 2025 Core Net Income: Total Net Income $ 44,943 $ 44,589 $ 41,328 $ 127,080 $ 107,426 Net securities gains (33 ) (311 ) (369 ) (573 ) (373 ) Tax benefit of net securities gains 7 65 77 120 78 Merger and acquisition related expenses 84 106 165 307 4,229 Tax benefit of merger and acquisition related expenses (18 ) (22 ) (35 ) (64 ) (888 ) Provision for credit losses - acquisition day 1 non-PCD — — — — 3,759 Tax benefit of provision for credit losses - acquisition day 1 non-PCD — — — — (789 ) Writedown on sale of Sale Leaseback 581 — — 581 — Tax benefit of loss on sale of Sale Leaseback (122 ) — — (122 ) — (5) Core net income $ 45,442 $ 44,427 $ 41,166 $ 127,329 $ 113,442 Average Shares Outstanding Assuming Dilution 100,077,971 101,558,853 104,754,917 101,272,158 103,509,902 (6) Core Earnings per common share (diluted) $ 0.45 $ 0.44 $ 0.39 $ 1.26 $ 1.10 Intangible amortization 1,341 1,303 1,567 4,008 4,009 Tax benefit of amortization of intangibles (282 ) (274 ) (329 ) (842 ) (842 ) Core Net Income, adjusted for tax affected amortization of intangibles $ 46,501 $ 45,456 $ 42,404 $ 130,495 $ 116,609 (9) Core Return on Average Tangible Common Equity 15.90 % 15.66 % 14.90 % 15.01 % 14.29 % FIRST COMMONWEALTH FINANCIAL CORPORATION CONSOLIDATED FINANCIAL DATA Unaudited (dollars in thousands, except per share data) DEFINITIONS AND RECONCILIATION OF NON-GAAP MEASURES For the Three Months Ended For the Nine Months Ended September 30, June 30, September 30, September 30, September 30, 2026 2026 2025 2026 2025 Core Return on Average Assets: Total Net Income $ 44,943 $ 44,589 $ 41,328 $ 127,080 $ 107,426 Total Average Assets 12,183,086 12,191,133 12,210,003 12,199,522 11,997,612 Return on Average Assets 1.46 % 1.47 % 1.34 % 1.39 % 1.20 % Core Net Income (5) $ 45,442 $ 44,427 $ 41,166 $ 127,329 $ 113,442 Total Average Assets 12,183,086 12,191,133 12,210,003 12,199,522 11,997,612 (7) Core Return on Average Assets 1.48 % 1.46 % 1.34 % 1.40 % 1.26 % For the Three Months Ended For the Nine Months Ended September 30, June 30, September 30, September 30, September 30, 2026 2026 2025 2026 2025 Core Efficiency Ratio: Total Noninterest Expense $ 78,184 $ 74,235 $ 72,834 $ 228,014 $ 220,352 Adjustments to Noninterest Expense: Intangible amortization 1,341 1,303 1,567 4,008 4,009 Merger and acquisition related 84 106 165 307 4,229 Writedown on sale of Sale Leaseback 581 — — 581 — Noninterest Expense - Core $ 76,178 $ 72,826 $ 71,102 $ 223,118 $ 212,114 Net interest income, (FTE) $ 116,740 $ 112,827 $ 111,474 $ 338,902 $ 313,913 Total noninterest income 26,727 26,997 24,857 78,311 72,108 Net securities gains (33 ) (311 ) (369 ) (573 ) (373 ) Total Revenue 143,434 139,513 135,962 416,640 385,648 Adjustments to Revenue: Derivative mark-to-market 95 95 2 184 (151 ) Total Revenue - Core $ 143,339 $ 139,418 $ 135,960 $ 416,456 $ 385,799 (10) Core Efficiency Ratio 53.15 % 52.24 % 52.30 % 53.58 % 54.98 % FIRST COMMONWEALTH FINANCIAL CORPORATION CONSOLIDATED FINANCIAL DATA Unaudited (dollars in thousands) DEFINITIONS AND RECONCILIATION OF NON-GAAP MEASURES September 30, June 30, September 30, 2026 2026 2025 Tangible Equity: Total shareholders' equity $ 1,484,049 $ 1,569,168 $ 1,541,837 Less: intangible assets 398,585 398,327 400,851 Tangible Equity 1,085,464 1,170,841 1,140,986 Less: preferred stock — — — Tangible Common Equity $ 1,085,464 $ 1,170,841 $ 1,140,986 Tangible Assets: Total assets $ 12,196,935 $ 12,207,826 $ 12,310,376 Less: intangible assets 398,585 398,327 400,851 Tangible Assets $ 11,798,350 $ 11,809,499 $ 11,909,525 (12) Tangible Common Equity as a percentage of Tangible Assets 9.20 % 9.91 % 9.58 % Shares Outstanding at End of Period 96,927,715 101,101,529 104,293,298 (11) Tangible Book Value Per Common Share $ 11.20 $ 11.58 $ 10.94 For the Three Months Ended For the Nine Months Ended September 30, June 30, September 30, September 30, September 30, 2026 2026 2025 2026 2025 Pre-tax pre-provision net revenue: Net interest income $ 116,320 $ 112,442 $ 111,123 $ 337,736 $ 312,886 Noninterest income 26,727 26,997 24,857 78,311 72,108 Noninterest expense 78,184 74,235 72,834 228,014 220,352 Pre-tax pre-provision net revenue $ 64,863 $ 65,204 $ 63,146 $ 188,033 $ 164,642 Net securities gains $ (33 ) $ (311 ) $ (369 ) $ (573 ) $ (373 ) Merger and acquisition related expenses 84 106 165 307 4,229 Writedown on Sale Leaseback 581 — — 581 — Core pre-tax pre-provision net revenue $ 65,495 $ 64,999 $ 62,942 $ 188,348 $ 168,498 Net charge-offs $ 4,581 $ 11,441 $ 12,247 $ 24,183 $ 18,103 Source: First Commonwealth Financial Corporation