First · NYSE:FCF

First — First Commonwealth Financial — Q1 2022 Earnings Presentation

16 slides from First's earnings presentation, Apr 27, 2022

  1. Slide 1: First Commonwealth NYSE: FCF

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  2. Slide 2: 1Q 2022 Earnings Release Webcast Presentation

    1Q 2022 Earnings Release Webcast Presentation April 27, 2022 2

  3. Slide 3: Forward-Looking Statements

    FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements about First Commonwealth’s future plans, strategies and financial performance. These statements can be identified by the fact that they do not relate strictly to historical or current facts and often include words such

  4. Slide 4: First Quarter 2022 Highlights

    1Q 2022 Earnings Release Webcast Presentation FIRST QUARTER 2022 HIGHLIGHTS Diversified balance sheet and revenue streams continue Highlights to improve the earnings power of the company $36.5 million  Total loans (excl. PPP) grew $147.2 million, or 8.8% annualized from the previous quarter Core Pr

  5. Slide 5: Net Interest Income and Net Interest Margin

    1Q 2022 Earnings Release Webcast Presentation NET INTEREST INCOME AND NET INTEREST MARGIN Net Interest Income(1)  Net interest income (FTE) of $68.4 million decreased by $2.1 million from LQ − $2.3 million decrease in fees and interest on PPP loans from LQ − Approximately $42.4 million of PPP loans

  6. Slide 6: Loans

    1Q 2022 Earnings Release Webcast Presentation LOANS Average Loans(1) Average  Average loans increased $101.7 million $6,792 $6,893 $6,781 from LQ – Excluding PPP loans, average loans increased $162.1 million from LQ, or 9.8% annualized  The yield on loans was unchanged from LQ (excluding PPP loans

  7. Slide 7: Deposits

    1Q 2022 Earnings Release Webcast Presentation DEPOSITS Average Deposits Average  Average deposits increased $69.9 million, or 3.6% annualized from LQ  Average interest-bearing demand and savings deposits increased $98.1 million, partially offset by a $21.0 million decrease in time deposits  The t

  8. Slide 8: Noninterest Income

    1Q 2022 Earnings Release Webcast Presentation NONINTEREST INCOME Change from  Total noninterest income decreased $2.1 1Q22 4Q21 1Q21 4Q21 1Q21 million from LQ and decreased $3.4 million Interchange $6.5 $7.1 $6.4 ($0.6) $0.1 YoY Service charges 4.6 4.9 4.0 (0.3) 0.6 Trust 2.7 2.8 2.5 (0.1) 0.2 Reta

  9. Slide 9: Noninterest Expense

    1Q 2022 Earnings Release Webcast Presentation NONINTEREST EXPENSE Change from 1Q22 4Q21 1Q21 4Q21 1Q21  Noninterest expense increased $0.3 million Salaries and benefits $30.9 $31.4 $28.7 ($0.5) $2.2 to LQ and increased $3.8 million YoY Occupancy 4.8 4.0 4.8 0.8 0.0 Furniture and equipment 3.7 3.8 3

  10. Slide 10: Credit Quality

    1Q 2022 Earnings Release Webcast Presentation CREDIT QUALITY Provision Expense and Net Charge-offs  Provision expense of $2.0 million increased $4.7 million from LQ and decreased $10.4 million YoY. The primary drivers include: − ($1.1) million in net charge-offs − Unfunded commitment provision was

  11. Slide 11: Capital Return

    1Q 2022 Earnings Release Webcast Presentation CAPITAL RETURN Payout Ratios  Strong capital levels allow us to continue to return capital to shareholders  There were no shares repurchased during the first quarter  $20.0 million of repurchase authority (1) remains under the current share repurchase

  12. Slide 12: Appendix

    APPENDIX Chititonwantth

  13. Slide 13: Non-GAAP Measures

    1Q 2022 Earnings Release Webcast Presentation NON-GAAP MEASURES Operating Revenue 1Q22 4Q21 3Q21 2Q21 1Q21 Net Interest Income $68.2 $70.2 $70.6 $68.2 $69.4 Tax equivalent adjustment 0.2 0.3 0.3 0.3 0.3 Net Interest Income (FTE) 68.4 70.5 70.9 68.5 69.7 Noninterest Income (Reported) 24.0 26.1 27.2 2

  14. Slide 14: Non-GAAP Measures

    1Q 2022 Earnings Release Webcast Presentation NON-GAAP MEASURES Core Earnings per Share 1Q22 4Q21 3Q21 2Q21 1Q21 Net Income (GAAP) $27.7 $34.8 $34.1 $29.6 $39.8 (after tax) Less: Covid-19 related (after tax) 0.0 0.0 0.0 0.2 0.1 Less: Merger and acquisition related (after tax) 0.0 0.0 0.0 0.0 0.0 Les

  15. Slide 15: Non-GAAP Measures

    1Q 2022 Earnings Release Webcast Presentation NON-GAAP MEASURES Return on Average Tangible Common Equity (%) 1Q22 4Q21 3Q21 2Q21 1Q21 Average Equity $1,107 $1,117 $1,114 $1,098 $1,076 Less: Average intangible assets 314 315 316 316 316 Less: Average preferred stock 0 0 0 0 0 Average Tangible Common

  16. Slide 16: Non-GAAP Measures

    1Q 2022 Earnings Release Webcast Presentation NON-GAAP MEASURES Core Net Interest Margin (%) 1Q22 4Q21 3Q21 2Q21 1Q21 Net Interest Income (FTE) $68.4 $70.5 $70.9 $68.5 $69.7 Less: Income from Paycheck Protection Program Loans (1.8) (4.1) (5.7) (5.5) (7.9) Less: Income from excess cash 0.0 0.0 (0.2)

First Commonwealth Financial — Q1 2022 Earnings Presentation on 6ix