First · NYSE:FCF

First — First Commonwealth Financial — Q1 2026 Earnings Presentation

23 slides from First's earnings presentation, Apr 29, 2026

  1. Slide 1: First Commonwealth NYSE: FCF

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  2. Slide 2: 1Q 2026 Earnings Release Webcast Presentation

    1Q 2026 Earnings Release Webcast Presentation April 29, 2026 2

  3. Slide 3: Forward-Looking Statements

    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 “Exch

  4. Slide 4: First Quarter 2026 Highlights

    1Q 2026 Earnings Webcast Presentation FIRST QUARTER 2026 HIGHLIGHTS Diversified balance sheet and revenue streams continue to Highlights support the fundamental earnings of the company  Core EPS of $0.37 was a decrease of $0.06 from the previous quarter $57.9 million and an increase of $0.05 from t

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

    1Q 2026 Earnings Release Webcast Presentation NET INTEREST INCOME AND NET INTEREST MARGIN Net Interest Income(1)  Net interest income (FTE) of $109.3 million decreased $4.2 million from LQ but increased $13.5 million YoY  Net interest margin of 3.92% decreased 6bps from LQ but increased 30bps YoY

  6. Slide 6: Loans

    1Q 2026 Earnings Release Webcast Presentation LOANS Average Loans(1) Average  Average loans decreased $170.1 million from LQ but increased $497.4 million YoY  The yield on loans decreased 9bps from LQ but increased 11bps YoY (2) Period-end Loans(1) Period-end  Total loans(1) decreased $314.0 mill

  7. Slide 7: Deposits

    1Q 2026 Earnings Release Webcast Presentation DEPOSITS Average Deposits Average  Average deposits grew $67.1 million or 2.7% annualized from LQ  Average deposits increased $518.6 million, or 21.0% annualized from prior year quarter  Average interest-bearing and savings deposits increased $91.2 mi

  8. Slide 8: Noninterest Income

    1Q 2026 Earnings Release Webcast Presentation NONINTEREST INCOME Change from 1Q26 4Q25 1Q25 4Q25 1Q25 Interchange $3.7 $4.0 $3.7 ($0.3) $0.0 Service Charges 5.5 5.8 5.4 (0.3) 0.1  Fee income increased $0.1 million from LQ Trust 3.4 3.4 3.0 0.0 0.4 and increased $1.7 million YoY Retail Brokerage 1.8

  9. Slide 9: Noninterest Expense

    1Q 2026 Earnings Release Webcast Presentation NONINTEREST EXPENSE Change from  Total operating expense increased $1.3 1Q26 4Q25 1Q25 4Q25 1Q25 million from LQ and increased $4.1 Salaries and benefits $42.9 $42.3 $40.4 $0.6 $2.5 million YoY Occupancy 5.6 5.0 5.7 0.6 (0.1) Furniture and equipment 4.8

  10. Slide 10: Credit Quality

    1Q 2026 Earnings Release Webcast Presentation CREDIT QUALITY Provision Expense and Net Charge-offs  Provision expense of $10.7 million increased $3.7 million from LQ  The allowance for credit losses as a percentage of end-of- period loans was 1.37% as compared to 1.32% in LQ  Nonperforming loans

  11. Slide 11: Capital Return

    1Q 2026 Earnings Release Webcast Presentation CAPITAL RETURN Payout Ratios (1) • Strong capital levels allow us to continue to return capital to shareholders • There were 1,284,457 shares repurchases in 1Q 2026; remaining capacity under the current program was $25.0 million as of March 31, 2026 • On

  12. Slide 12: Additional Areas of Focus

    1Q 2026 Earnings Release Webcast Presentation ADDITIONAL AREAS OF FOCUS 12

  13. Slide 13: Sources of Liquidity

    1Q 2026 Earnings Release Webcast Presentation SOURCES OF LIQUIDITY As of March 31, 2026 Total Amount Net Available Used Availability Internal Sources: Unencumbered Securities $630.0 $0 $630.0 Other (Excess Pledged) $130.0 $0 $130.0 External Sources: FHLB $2,735.0 $7.6 $2,727.4 Federal Reserve $1,069

  14. Slide 14: Receive Fixed Macro Swaps

    1Q 2026 Earnings Release Webcast Presentation RECEIVE FIXED MACRO SWAPS Macro Swap Maturity Schedule(1)  $175mm of fixed macro swaps are scheduled to mature in 2026  Under these swaps, FCB receives a fixed rate of approximately 50-100bps and pays 1mSOFR (currently 3.66%)  The NIM benefit of the s

  15. Slide 15: Investment Securities Portfolio

    1Q 2026 Earnings Release Webcast Presentation INVESTMENT SECURITIES PORTFOLIO Securities Portfolio Composition(1)  Conservative investment portfolio intended to act as a pool of liquidity  There were $195.1mm of investment securities purchased during the quarter with a weighted average life of 4.2

  16. Slide 16: Granular Core Deposit Franchise

    1Q 2026 Earnings Release Webcast Presentation GRANULAR CORE DEPOSIT FRANCHISE  Strong, granular, well-diversified depository Insured Deposits − Average deposit account size ~$20,000 − Average retail account size ~$12,500 − Average business account size ~$73,500 − 77% of deposits were insured or sec

  17. Slide 17: CRE Portfolio

    1Q 2026 Earnings Release Webcast Presentation CRE PORTFOLIO Total Loans Commercial Real Estate Portfolio % of total 1Q 26 loans Owner-occupied CRE $ 765.6 8.1% Multifamily 606.2 6.4% Retail 642.1 6.8% Office 351.4 3.7% Office - Medical 49.0 0.5% Hospitality 221.4 2.3% $9.8B Industrial Distr./Warehou

  18. Slide 18: CRE Portfolio: Office

    1Q 2026 Earnings Release Webcast Presentation CRE PORTFOLIO: OFFICE Risk profile reflects well-diversified, granular portfolio and conservative credit culture  Office credits >$1 million (90% of Office portfolio balances) are formally reviewed annually Geographic Breakdown(1)  Average Office loan

  19. Slide 19: Appendix

    1Q 2026 Earnings Release Webcast Presentation APPENDIX 19

  20. Slide 20: Non-GAAP Measures

    1Q 2026 Earnings Release Webcast Presentation NON-GAAP MEASURES Operating Revenue Revenue 1Q26 1Q26 4Q25 4Q25 3Q25 3Q25 2Q25 2Q25 1Q25 1Q25 Net Interest Income Income $109.0 $109.0 $113.2 $113.2 $111.1 $111.1 $106.2 $106.2 $95.5 $95.5 Tax equivalent adjustment adjustment 0.30.3 0.40.4 0.40.4 0.40.4

  21. Slide 21: Non-GAAP Measures

    1Q 2026 Earnings Release Webcast Presentation NON-GAAP MEASURES Core Earnings per Share 1Q26 4Q25 3Q25 2Q25 1Q25 Net Income (GAAP) $37.5 $44.9 $41.3 $33.4 $32.7 (after tax) Less: Realized gains/ (losses) on securities (after tax) (0.1) (0.3) (0.2) 0.0 0.0 Less: Merger and acquisition related (after

  22. Slide 22: Non-GAAP Measures

    1Q 2026 Earnings Release Webcast Presentation NON-GAAP MEASURES Tangible Common Equity / Tangible Assets (Tangible Common Equity Ratio) 1Q26 4Q25 3Q25 2Q25 1Q25 Total Equity $1,552 $1,554 $1,542 $1,518 $1,447 Less: Intangible assets 399 400 401 403 383 Less: Preferred stock 0 0 0 0 0 Tangible Common

  23. Slide 23: Non-GAAP Measures

    1Q 2026 Earnings Release Webcast Presentation NON-GAAP MEASURES Core Core Return Return onon Average Average Tangible Tangible Common Common Equity Equity (%) (%) 1Q26 1Q26 4Q25 4Q25 3Q25 3Q25 2Q25 2Q25 1Q25 1Q25 Average Average Equity Equity $1,562 $1,562 $1,550 $1,550 $1,531 $1,531 $1,493 $1,493 $

First Commonwealth Financial — Q1 2026 Earnings Presentation on 6ix