First · NYSE:FCF

First — First Commonwealth Financial — Q4 2025 Earnings Presentation

23 slides from First's earnings presentation, Jan 28, 2026

  1. Slide 1: NYSE: FCF

    ft ChRST nwealth. eoceceececeo eee eee eee eee ee eee © NYSE: FCF

  2. Slide 2: 4Q 2025 Earnings Release Webcast Presentation

    4Q 2025 Earnings Release Webcast Presentation January 28, 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: Fourth Quarter 2025 Highlights

    4Q 2025 Earnings Webcast Presentation FOURTH QUARTER 2025 HIGHLIGHTS Diversified balance sheet and revenue streams continue to Highlights support the fundamental earnings of the company  Core EPS of $0.43 was an increase of $0.04 from the previous $63.2 million quarter Core Pre-tax pre-provision 

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

    4Q 2025 Earnings Release Webcast Presentation NET INTEREST INCOME AND NET INTEREST MARGIN Net Interest Income(1)  Net interest income (FTE) of $113.6 million increased $2.1 million from LQ and $18.1 million YoY  Net interest margin of 3.98% increased 6bps from LQ and 44bps YoY − Cost of deposits w

  6. Slide 6: Loans

    4Q 2025 Earnings Release Webcast Presentation LOANS Average Loans(1) Average  Average loans increased $83.3 million from LQ and increased $702.3 million YoY − Average loan growth (excluding acquired balances) totaled $410.4 million, or 4.5% annualized from 4Q24  The yield on loans increased 4bps f

  7. Slide 7: Deposits

    4Q 2025 Earnings Release Webcast Presentation DEPOSITS Average Average Deposits  Average deposits grew $72.0 million or 2.8% annualized from LQ  Average deposits (excluding acquired balances) increased $232.4 million, or 2.4% annualized from prior year quarter  Average interest-bearing and saving

  8. Slide 8: Noninterest Income

    4Q 2025 Earnings Release Webcast Presentation NONINTEREST INCOME Change from 4Q25 3Q25 4Q24 3Q25 4Q24 Interchange $4.0 $4.0 $3.9 $0.0 $0.1 Service Charges 5.8 5.9 5.7 (0.1) 0.1  Fee income (excluding security gains) Trust 3.4 3.5 3.0 (0.1) 0.4 decreased $0.2 million from LQ and $0.9 Retail Brokerag

  9. Slide 9: Noninterest Expense

    4Q 2025 Earnings Release Webcast Presentation NONINTEREST EXPENSE Change from 4Q25 3Q25 4Q24 3Q25 4Q24 Salaries and benefits $42.3 $40.7 $38.0 $1.6 $4.3  Total operating expense increased $1.9 Occupancy 5.0 5.1 4.8 (0.1) 0.2 million from LQ and increased $5.3 Furniture and equipment 5.0 4.4 4.4 0.6

  10. Slide 10: Credit Quality

    4Q 2025 Earnings Release Webcast Presentation CREDIT QUALITY  Provision expense of $7.0 million decreased $4.3 million from LQ Provision Expense and Net Charge-offs  The allowance for credit losses as a percentage of end- of-period loans was 1.32% as compared to 1.34% in LQ  Nonperforming loans o

  11. Slide 11: Capital Return

    4Q 2025 Earnings Release Webcast Presentation CAPITAL RETURN Payout Ratios (1) • Strong capital levels allow us to continue to return capital to shareholders • There were 1,451,296 shares repurchases in 4Q 2025; remaining capacity under the current program was $22.7 million as of December 31, 2026 •

  12. Slide 12: Additional Areas of Focus

    4Q 2025 Earnings Release Webcast Presentation ADDITIONAL AREAS OF FOCUS 12

  13. Slide 13: Sources of Liquidity

    4Q 2025 Earnings Release Webcast Presentation SOURCES OF LIQUIDITY As of December 31, 2025 Total Amount Net Available Used Availability Internal Sources: Unencumbered Securities $547.0 $0 $547.0 Other (Excess Pledged) $154.4 $0 $154.4 External Sources: FHLB $2,830.0 $264.0 $2,566.0 Federal Reserve $

  14. Slide 14: Receive Fixed Macro Swaps

    4Q 2025 Earnings Release Webcast Presentation RECEIVE FIXED MACRO SWAPS Macro Swap Maturity Schedule(1)  $75mm of receive fixed macro swaps matured in 4Q25 and $175mm are scheduled to mature in 2026  Under these swaps, FCB receives a fixed rate of approximately 50-100bps and pays 1mSOFR (currently

  15. Slide 15: Investment Securities Portfolio

    4Q 2025 Earnings Release Webcast Presentation INVESTMENT SECURITIES PORTFOLIO Securities Portfolio Composition(1)  Conservative investment portfolio intended to act as a pool of liquidity  There were $115.2mm of investment securities purchased during the quarter with a weighted average life of 4.8

  16. Slide 16: Granular Core Deposit Franchise

    4Q 2025 Earnings Release Webcast Presentation GRANULAR CORE DEPOSIT FRANCHISE  Strong, granular, well-diversified depository Insured Deposits − Average deposit account size ~$19,500 − Average retail account size ~$12,000 − Average business account size ~$74,000 − 76% of deposits were insured or sec

  17. Slide 17: CRE Portfolio

    4Q 2025 Earnings Release Webcast Presentation CRE PORTFOLIO Total Loans Commercial Real Estate Portfolio % of total 4Q 25 loans Owner-occupied CRE $ 753.2 7.7% Multifamily 594.8 6.1% Retail 657.3 6.7% Office 361.8 3.7% Office - Medical 52.3 0.5% Hospitality 232.5 2.4% $9.8B Industrial Distr./Warehou

  18. Slide 18: CRE Portfolio: Office

    4Q 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 annually Geographic Breakdown(1)  Average Office loan

  19. Slide 19: Appendix

    4Q 2025 Earnings Release Webcast Presentation APPENDIX 19

  20. Slide 20: Non-GAAP Measures

    4Q 2025 Earnings Release Webcast Presentation NON-GAAP MEASURES Operating OperatingRevenue Revenue 4Q25 3Q25 3Q25 2Q25 2Q25 1Q25 1Q25 4Q24 4Q24 3Q24 Net NetInterest InterestIncome Income $113.2 $111.1 $111.1 $106.2 $106.2 $95.5 $95.5 $95.1 $95.1 $96.5 Tax Taxequivalent equivalentadjustment adjustmen

  21. Slide 21: Non-GAAP Measures

    4Q 2025 Earnings Release Webcast Presentation NON-GAAP MEASURES Core Earnings per Share 4Q25 3Q25 2Q25 1Q25 4Q24 Net Income (GAAP) $44.9 $41.3 $33.4 $32.7 $35.8 (after tax) Less: Realized gains/ (losses) on securities (after tax) (0.3) (0.2) 0.0 0.0 0.0 Less: Merger and acquisition related (after ta

  22. Slide 22: Non-GAAP Measures

    4Q 2025 Earnings Release Webcast Presentation NON-GAAP MEASURES Tangible Common Equity / Tangible Assets (Tangible Common Equity Ratio) 4Q25 3Q25 2Q25 1Q25 4Q24 Total Equity $1,554 $1,542 $1,518 $1,447 $1,405 Less: Intangible assets 400 401 403 383 383 Less: Preferred stock 0 0 0 0 0 Tangible Common

  23. Slide 23: Non-GAAP Measures

    4Q 2025 Earnings Release Webcast Presentation NON-GAAP MEASURES Core Core Return Return onon Average Average Tangible Tangible Common Common Equity Equity (%) (%) 4Q25 4Q25 3Q25 3Q25 2Q25 2Q25 1Q25 1Q25 4Q24 4Q24 Average Average Equity Equity $1,550 $1,550 $1,531 $1,531 $1,493 $1,493 $1,429 $1,429 $

First Commonwealth Financial — Q4 2025 Earnings Presentation on 6ix