First · NYSE:FCF

First — First Commonwealth Financial — Q1 2025 Earnings Presentation

22 slides from First's earnings presentation, Apr 30, 2025

  1. Slide 1: First Commonwealth Financial NYSE: FCF

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  2. Slide 2: 1Q 2025 Earnings Release Webcast Presentation

    1Q 2025 Earnings Release Webcast Presentation April 30, 2025 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 2025 Highlights

    1Q 2025 Earnings Webcast Presentation FIRST QUARTER 2025 HIGHLIGHTS Diversified balance sheet and revenue streams continue to Highlights support the fundamental earnings of the company  Core EPS of $0.32, a decrease of $0.03 from the previous quarter $46.9 million but matched consensus analysts est

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

    1Q 2025 Earnings Release Webcast Presentation NET INTEREST INCOME AND NET INTEREST MARGIN Net Interest Income(1)  Net interest income (FTE) of $95.9 million increased $0.5 million from LQ and $3.3 million YoY  Net interest margin of 3.62% increased 8bp from LQ and 10bps YoY − Yield on loans decrea

  6. Slide 6: Loans

    1Q 2025 Earnings Release Webcast Presentation LOANS Average Loans(1) Average  Average loans increased $34.8 million from LQ and increased $70.2 million YoY  The yield on loans decreased 5bps from LQ and decreased 3bps YoY (2) Period-end Loans(1) Period-end  Total loans(1) increased $99.0 million

  7. Slide 7: Deposits

    1Q 2025 Earnings Release Webcast Presentation DEPOSITS Average Deposits Average  Average deposits increased $58.8 million, or 2.5% annualized from LQ  Average time deposits grew $33.2 million, interest-bearing demand and savings increased $66.1 million and noninterest- bearing deposits decreased $

  8. Slide 8: Noninterest Income

    1Q 2025 Earnings Release Webcast Presentation NONINTEREST INCOME Change from  Fee income decreased $2.5 million from 1Q25 4Q24 1Q24 4Q24 1Q24 LQ and $1.3 million YoY Interchange $3.7 $3.9 $6.7 ($0.2) ($3.0) Service Charges 5.4 5.7 5.4 (0.3) 0.0  Gain on sale of SBA loans decreased $1.0 Trust 3.0 3

  9. Slide 9: Noninterest Expense

    1Q 2025 Earnings Release Webcast Presentation NONINTEREST EXPENSE Change from 1Q25 4Q24 1Q24 4Q24 1Q24 Salaries and benefits $40.4 $38.0 $35.3 $2.4 $5.1  Total noninterest expense increased Occupancy 5.7 4.8 5.3 0.9 0.4 $2.0 million from LQ and increased $5.7 Furniture and equipment 4.2 4.3 4.5 (0.

  10. Slide 10: Credit Quality

    1Q 2025 Earnings Release Webcast Presentation  Provision expense of $5.7 million decreased $0.8 CREDIT QUALITY million from LQ due primarily to a $10.6 million decrease in net charge-offs Provision Expense and Net Charge-offs  The allowance for credit losses as a percentage of end-of-period loans

  11. Slide 11: Capital Return

    1Q 2025 Earnings Release Webcast Presentation CAPITAL RETURN Payout Ratios (1) • Strong capital levels allow us to continue to return capital to shareholders • There were no share repurchases in 1Q 2025; remaining capacity under the current program was $6.7 million as of March 31, 2025 • On April 28

  12. Slide 12: Additional Areas of Focus

    1Q 2025 Earnings Release Webcast Presentation ADDITIONAL AREAS OF FOCUS 12

  13. Slide 13: Sources of Liquidity

    1Q 2025 Earnings Release Webcast Presentation SOURCES OF LIQUIDITY As of March 31, 2025 Total Amount Net Available Used Availability Internal Sources: Unencumbered Securities $788.7 $0 $788.7 Other (Excess Pledged) $73.5 $0 $73.5 External Sources: FHLB $2,527.5 $232.9 $2,294.6 Federal Reserve $1,089

  14. Slide 14: Investment Securities Portfolio

    1Q 2025 Earnings Release Webcast Presentation INVESTMENT SECURITIES PORTFOLIO Securities Portfolio Composition(1)  Conservative investment portfolio intended to act as a pool of liquidity − $214.3 million in securities were purchased in 1Q25 with a weighted average yield of 5.26% $1.7B 31% HTM/  W

  15. Slide 15: Granular Core Deposit Franchise

    1Q 2025 Earnings Release Webcast Presentation GRANULAR CORE DEPOSIT FRANCHISE  Strong, granular, well-diversified depository Insured Deposits − Average deposit account size ~$19,000 − Average retail account size ~$12,000 − Average business account size ~$70,000 − 78% of deposits were insured or sec

  16. Slide 16: CRE Portfolio

    1Q 2025 Earnings Release Webcast Presentation CRE PORTFOLIO Total Loans Commercial Real Estate Portfolio % of total 1Q 25 loans Owner-occupied CRE $ 717.5 7.9% Multifamily 639.5 7.0% Retail 662.6 7.3% Office 403.3 4.4% Office - Medical 58.9 0.6% Hospitality 204.9 2.2% $9.1B Industrial Distr./Warehou

  17. Slide 17: CRE Portfolio: Office

    1Q 2025 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 by a committee annually Geographic Breakdown(1)  Avera

  18. Slide 18: Appendix

    1Q 2025 Earnings Release Webcast Presentation APPENDIX 18

  19. Slide 19: Non-GAAP Measures

    1Q 2025 Earnings Release Webcast Presentation NON-GAAP MEASURES Operating Revenue 1Q25 4Q24 3Q24 2Q24 1Q24 Net Interest Income $95.5 $95.1 $96.5 $95.0 $92.3 Tax equivalent adjustment 0.3 0.4 0.3 0.3 0.3 Net Interest Income (FTE) 95.8 95.5 96.8 95.3 92.6 Noninterest Income (Reported) 22.5 25.3 24.7 2

  20. Slide 20: Non-GAAP Measures

    1Q 2025 Earnings Release Webcast Presentation NON-GAAP MEASURES Core Earnings per Share 1Q25 4Q24 3Q24 2Q24 1Q24 Net Income (GAAP) $32.7 $35.8 $32.1 $37.1 $37.5 (after tax) Less: Realized gains/ (losses) on securities (after tax) 0.0 0.0 (0.2) 0.0 0.0 Less: Merger and acquisition related (after tax)

  21. Slide 21: Non-GAAP Measures

    1Q 2025 Earnings Release Webcast Presentation NON-GAAP MEASURES Tangible Common Equity / Tangible Assets (Tangible Common Equity Ratio) 1Q25 4Q24 3Q24 2Q24 1Q24 Total Equity $1,447 $1,405 $1,410 $1,363 $1,333 Less: Intangible assets 383 383 384 385 386 Less: Preferred stock 0 0 0 0 0 Tangible Common

  22. Slide 22: Non-GAAP Measures

    1Q 2025 Earnings Release Webcast Presentation NON-GAAP MEASURES Core Return on Average Tangible Common Equity (%) 1Q25 4Q24 3Q24 2Q24 1Q24 Average Equity $1,429 $1,404 $1,389 $1,344 $1,325 Less: Average intangible assets 383 384 384 385 386 Less: Average preferred stock 0 0 0 0 0 Average Tangible Co

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