falsedesktopFCF2020-09-30000071253720000030{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "\t\tPAGE\nPART I.\tFinancial Information\t\nITEM 1.\tFinancial Statements and Supplementary Data\t\n\tIncluded in Part I of this report:\t\n\tFirst Commonwealth Financial Corporation and Subsidiaries\t\n\tConsolidated Statements of Financial Condition (Unaudited)\t3\n\tConsolidated Statements of Income (Unaudited)\t4\n\tConsolidated Statements of Comprehensive Income (Unaudited)\t5\n\tConsolidated Statements of Changes in Shareholders' Equity (Unaudited)\t6\n\tConsolidated Statements of Cash Flows (Unaudited)\t8\n\tNotes to the Unaudited Consolidated Financial Statements\t9\nITEM 2.\tManagement's Discussion and Analysis of Financial Condition and Results of Operations\t47\nITEM 3.\tQuantitative and Qualitative Disclosures About Market Risk\t72\nITEM 4.\tControls and Procedures\t72\nPART II.\tOther Information\t\nITEM 1.\tLegal Proceedings\t73\nITEM 1A.\tRisk Factors\t73\nITEM 2.\tUnregistered Sales of Equity Securities and Use of Proceeds\t73\nITEM 3.\tDefaults Upon Senior Securities\t73\nITEM 4.\tMine Safety Disclosures\t73\nITEM 5.\tOther Information\t73\nITEM 6.\tExhibits\t74\n\tSignatures\t75\n", "q10k_tbl_1": "\tSeptember 30 2020\tDecember 31 2019\n\t(dollars in thousands except share data)\t\nAssets\t\t\nCash and due from banks\t97060\t102346\nInterest-bearing bank deposits\t283037\t19510\nSecurities available for sale at fair value\t908236\t902292\nSecurities held to maturity at amortized cost (Fair value of $276988 and $338718 at September 30 2020 and December 312019 respectively)\t268638\t337123\nOther investments\t12966\t16761\nLoans held for sale\t37998\t15989\nLoans:\t\t\nPortfolio loans\t6949716\t6189148\nAllowance for credit losses\t(88307)\t(51637)\nNet loans\t6861409\t6137511\nPremises and equipment net(1)\t128041\t137268\nOther real estate owned\t1079\t2228\nGoodwill\t303328\t303328\nAmortizing intangibles net\t14095\t16366\nBank owned life insurance\t224660\t220723\nOther assets\t148819\t97328\nTotal assets\t9289366\t8308773\nLiabilities\t\t\nDeposits (all domestic):\t\t\nNoninterest-bearing\t2301821\t1690247\nInterest-bearing\t5402086\t4987368\nTotal deposits\t7703907\t6677615\nShort-term borrowings\t122356\t201853\nSubordinated debentures\t170572\t170450\nOther long-term debt\t56424\t56917\nCapital lease obligation\t6494\t6815\nTotal long-term debt\t233490\t234182\nOther liabilities\t156782\t139458\nTotal liabilities\t8216535\t7253108\nShareholders' Equity\t\t\nPreferred stock $1 par value per share 3000000 shares authorized none issued\t0\t0\nCommon stock $1 par value per share 200000000 shares authorized; 113914902 shares issued at September 30 2020 and December 31 2019 and 96924781 and 98311840 shares outstanding at September 30 2020 and December 31 2019 respectively\t113915\t113915\nAdditional paid-in capital\t494682\t493737\nRetained earnings\t592704\t577348\nAccumulated other comprehensive income net\t19111\t5579\nTreasury stock (16990121 and 15603062 shares at September 30 2020 and December 31 2019 respectively)\t(147581)\t(134914)\nTotal shareholders' equity\t1072831\t1055665\nTotal liabilities and shareholders' equity\t9289366\t8308773\n", "q10k_tbl_2": "\tFor the Three Months Ended\t\tFor the Nine Months Ended\t\n\tSeptember 30\t\tSeptember 30\t\n\t2020\t2019\t2020\t2019\n\t(dollars in thousands except share data)\t\t\t\nInterest Income\t\t\t\t\nInterest and fees on loans\t67474\t74714\t207290\t218524\nInterest and dividends on investments:\t\t\t\t\nTaxable interest\t5598\t6995\t19064\t22871\nInterest exempt from federal income taxes\t268\t398\t850\t1231\nDividends\t159\t387\t536\t1419\nInterest on bank deposits\t94\t81\t163\t181\nTotal interest income\t73593\t82575\t227903\t244226\nInterest Expense\t\t\t\t\nInterest on deposits\t4621\t9846\t18756\t27298\nInterest on short-term borrowings\t35\t1620\t670\t8075\nInterest on subordinated debentures\t2146\t2232\t6434\t6930\nInterest on other long-term debt\t356\t362\t1065\t656\nInterest on lease obligations\t66\t70\t199\t210\nTotal interest expense\t7224\t14130\t27124\t43169\nNet Interest Income\t66369\t68445\t200779\t201057\nProvision for credit losses\t11212\t2708\t49038\t9638\nNet Interest Income after Provision for Credit Losses\t55157\t65737\t151741\t191419\nNoninterest Income\t\t\t\t\nNet securities gains\t20\t9\t47\t15\nTrust income\t2554\t2325\t6774\t6221\nService charges on deposit accounts\t4035\t4954\t12066\t13792\nInsurance and retail brokerage commissions\t2156\t1912\t5982\t5887\nIncome from bank owned life insurance\t1547\t1540\t4963\t4408\nGain on sale of mortgage loans\t6437\t2599\t13226\t6101\nGain on sale of other loans and assets\t1871\t970\t3151\t3831\nCard-related interchange income\t6441\t5629\t17589\t15800\nDerivatives mark to market\t(160)\t(45)\t(2122)\t(88)\nSwap fee income\t41\t421\t864\t1634\nOther income\t1827\t1865\t5314\t5356\nTotal noninterest income\t26769\t22179\t67854\t62957\nNoninterest Expense\t\t\t\t\nSalaries and employee benefits\t28823\t28674\t87573\t83205\nNet occupancy\t4609\t4521\t13979\t13878\nFurniture and equipment\t4033\t3904\t11468\t11396\nData processing\t2741\t2825\t7804\t7988\nAdvertising and promotion\t1115\t1140\t3800\t3611\nPennsylvania shares tax\t1254\t1189\t3246\t3365\nIntangible amortization\t939\t865\t2792\t2364\nOther professional fees and services\t937\t969\t2755\t2755\nFDIC insurance\t876\t35\t1637\t1164\nLoss on sale or write-down of assets\t63\t152\t416\t1398\nLitigation and operational losses\t329\t308\t1038\t1264\nMerger and acquisition related\t0\t3738\t0\t3772\nCOVID-19 related\t125\t0\t567\t0\nVoluntary early retirement\t3304\t0\t3304\t0\nBranch consolidation\t2544\t0\t2544\t0\nOther operating\t6555\t6577\t18351\t20696\nTotal noninterest expense\t58247\t54897\t161274\t156856\nIncome Before Income Taxes\t23679\t33019\t58321\t97520\nIncome tax provision\t4493\t6375\t10557\t19007\nNet Income\t19186\t26644\t47764\t78513\nAverage Shares Outstanding\t97917096\t98267229\t97990749\t98363539\nAverage Shares Outstanding Assuming Dilution\t98160143\t98547898\t98224506\t98615787\nPer Share Data: Basic Earnings per Share\t0.20\t0.27\t0.49\t0.80\nDiluted Earnings per Share\t0.20\t0.27\t0.49\t0.80\nCash Dividends Declared per Common Share\t0.11\t0.10\t0.33\t0.30\n", "q10k_tbl_3": "\tFor the Three Months Ended\t\tFor the Nine Months Ended\t\n\tSeptember 30\t\tSeptember 30\t\n\t2020\t2019\t2020\t2019\n\t(dollars in thousands)\t\t\t\nNet Income\t19186\t26644\t47764\t78513\nOther comprehensive (loss) income before tax benefit (expense):\t\t\t\t\nUnrealized holding (losses) gains on securities arising during the period\t(3256)\t3152\t22069\t22055\nLess: reclassification adjustment for gains on securities included in net income\t(20)\t(9)\t(47)\t(15)\nUnrealized holding gains (losses) on derivatives arising during the period\t225\t(124)\t(4892)\t9\nTotal other comprehensive (loss) income before tax benefit (expense)\t(3051)\t3019\t17130\t22049\nIncome tax benefit (expense) related to items of other comprehensive (loss) income\t640\t(635)\t(3598)\t(4631)\nTotal other comprehensive (loss) income\t(2411)\t2384\t13532\t17418\nComprehensive Income\t16775\t29028\t61296\t95931\n", "q10k_tbl_4": "\tShares Outstanding\tCommon Stock\tAdditional Paid-in- Capital\tRetained Earnings\tAccumulated Other Comprehensive Income (Loss) net\tTreasury Stock\tTotal Shareholders' Equity\n\t(dollars in thousands except share and per share data)\t\t\t\t\t\nBalance at December 31 2019\t98311840\t113915\t493737\t577348\t5579\t(134914)\t1055665\nNet income\t\t\t\t47764\t\t\t47764\nOther comprehensive income\t\t\t\t\t13532\t\t13532\nCash dividends declared ($0.33 per share)\t\t\t\t(32408)\t\t\t(32408)\nTreasury stock acquired\t(1638812)\t\t\t\t\t(14373)\t(14373)\nTreasury stock reissued\t158453\t\t458\t0\t\t1358\t1816\nRestricted stock\t93300\t0\t487\t0\t\t348\t835\nBalance at September 30 2020\t96924781\t113915\t494682\t592704\t19111\t(147581)\t1072831\n", "q10k_tbl_5": "\tShares Outstanding\tCommon Stock\tAdditional Paid-in- Capital\tRetained Earnings\tAccumulated Other Comprehensive Income (Loss) net\tTreasury Stock\tTotal Shareholders' Equity\n\t(dollars in thousands except share and per share data)\t\t\t\t\t\nBalance at December 31 2018\t98518668\t113915\t492273\t511409\t(11341)\t(130867)\t975389\nNet income\t\t\t\t78513\t\t\t78513\nOther comprehensive income\t\t\t\t\t17418\t\t17418\nCash dividends declared ($0.30 per share)\t\t\t\t(29562)\t\t\t(29562)\nTreasury stock acquired\t(482608)\t\t\t\t\t(6200)\t(6200)\nTreasury stock reissued\t205021\t\t1014\t0\t\t1729\t2743\nRestricted stock\t78000\t0\t450\t0\t\t279\t729\nBalance at September 30 2019\t98319081\t113915\t493737\t560360\t6077\t(135059)\t1039030\n", "q10k_tbl_6": "\tShares Outstanding\tCommon Stock\tAdditional Paid-in- Capital\tRetained Earnings\tAccumulated Other Comprehensive Income (Loss) net\tTreasury Stock\tTotal Shareholders' Equity\n\t(dollars in thousands except share and per share data)\t\t\t\t\t\nBalance at June 30 2020\t98132697\t113915\t494682\t584312\t21522\t(138726)\t1075705\nNet income\t\t\t\t19186\t\t\t19186\nOther comprehensive loss\t\t\t\t\t(2411)\t\t(2411)\nCash dividends declared ($0.11 per share)\t\t\t\t(10794)\t\t\t(10794)\nTreasury stock acquired\t(1207916)\t\t\t\t\t(9153)\t(9153)\nTreasury stock reissued\t0\t\t0\t0\t\t0\t0\nRestricted stock\t0\t0\t0\t0\t\t298\t298\nCommon stock issued\t0\t0\t0\t\t\t\t0\nBalance at September 30 2020\t96924781\t113915\t494682\t592704\t19111\t(147581)\t1072831\n", "q10k_tbl_7": "\tShares Outstanding\tCommon Stock\tAdditional Paid-in- Capital\tRetained Earnings\tAccumulated Other Comprehensive Income (Loss) net\tTreasury Stock\tTotal Shareholders' Equity\n\t(dollars in thousands except share and per share data)\t\t\t\t\t\nBalance at June 30 2019\t98499937\t113915\t493737\t543566\t3693\t(133080)\t1021831\nNet income\t\t\t\t26644\t\t\t26644\nOther comprehensive income\t\t\t\t\t2384\t\t2384\nCash dividends declared ($0.10 per share)\t\t\t\t(9850)\t\t\t(9850)\nTreasury stock acquired\t(180856)\t\t0\t\t\t(2240)\t(2240)\nTreasury stock reissued\t0\t\t0\t0\t\t0\t0\nRestricted stock\t0\t0\t0\t0\t\t261\t261\nCommon stock issuance\t0\t0\t0\t0\t\t\t0\nBalance at September 30 2019\t98319081\t113915\t493737\t560360\t6077\t(135059)\t1039030\n", "q10k_tbl_8": "\tFor the Nine Months Ended\t\n\tSeptember 30\t\n\t2020\t2019\nOperating Activities\t(dollars in thousands)\t\nNet income\t47764\t78513\nAdjustment to reconcile net income to net cash provided by operating activities:\t\t\nProvision for credit losses\t49038\t9638\nDeferred tax (benefit) expense\t(5059)\t2613\nDepreciation and amortization\t8676\t7777\nNet gains on securities and other assets\t(12608)\t(8545)\nNet amortization of premiums and discounts on securities\t4662\t2871\nIncome from increase in cash surrender value of bank owned life insurance\t(4699)\t(4405)\nIncrease in interest receivable\t(13105)\t(110)\nMortgage loans originated for sale\t(287196)\t(178911)\nProceeds from sale of mortgage loans\t281424\t173961\nIncrease in interest payable\t575\t1180\nDecrease in income taxes payable\t(536)\t(556)\nOther-net\t1888\t(7193)\nNet cash provided by operating activities\t70824\t76833\nInvesting Activities\t\t\nTransactions with securities held to maturity:\t\t\nProceeds from maturities and redemptions\t76841\t35163\nPurchases\t(9621)\t(200)\nTransactions with securities available for sale:\t\t\nProceeds from maturities and redemptions\t272544\t134453\nPurchases\t(282461)\t(17401)\nPurchases of FHLB stock\t(21903)\t(29538)\nProceeds from the redemption of FHLB stock\t25698\t50103\nProceeds from bank owned life insurance\t1147\t0\nProceeds from sale of loans\t25534\t28098\nProceeds from sale of other assets\t4875\t5390\nAcquisition net of cash acquired\t0\t332465\nNet increase in loans\t(798377)\t(256168)\nPurchases of premises and equipment and other assets\t(6570)\t(14060)\nNet cash (used in) provided by investing activities\t(712293)\t268305\nFinancing Activities\t\t\nNet decrease in federal funds purchased\t0\t(4000)\nNet decrease in other short-term borrowings\t(79497)\t(634088)\nNet increase in deposits\t1026580\t308976\nRepayments of other long-term debt\t(493)\t(473)\nRepayments of capital lease obligation\t(321)\t(300)\nProceeds from issuance of other long-term debt\t0\t50000\nDividends paid\t(32408)\t(29562)\nProceeds from reissuance of treasury stock\t222\t211\nPurchase of treasury stock\t(14373)\t(6200)\nNet cash provided by (used in) financing activities\t899710\t(315436)\nNet increase in cash and cash equivalents\t258241\t29702\nCash and cash equivalents at January 1\t121856\t98947\nCash and cash equivalents at September 30\t380097\t128649\n", "q10k_tbl_9": "Consideration received\t\t\nCash received\t329533\t\nTotal consideration received\t\t329533\nFair Value of Assets Acquired\t\t\nCash and cash equivalents\t2935\t\nLoans\t99956\t\nPremises and other equipment\t3637\t\nCore deposit intangible\t5615\t\nOther assets\t770\t\nTotal assets acquired\t112913\t\nFair Value of Liabilities Assumed\t\t\nDeposits\t471386\t\nOther Liabilities\t186\t\nTotal liabilities assumed\t471572\t\nTotal Fair Value of Identifiable Net Assets\t\t(358659)\nGoodwill\t\t29126\n", "q10k_tbl_10": "\tFor the Nine Months Ended September 30\t\t\t\t\t\n\t2020\t\t\t2019\t\t\n\tPretax Amount\tTax (Expense) Benefit\tNet of Tax Amount\tPretax Amount\tTax (Expense) Benefit\tNet of Tax Amount\n\t(dollars in thousands)\t\t\t\t\t\nUnrealized gains on securities:\t\t\t\t\t\t\nUnrealized holding gains on securities arising during the period\t22069\t(4635)\t17434\t22055\t(4632)\t17423\nReclassification adjustment for gains on securities included in net income\t(47)\t10\t(37)\t(15)\t3\t(12)\nTotal unrealized gains on securities\t22022\t(4625)\t17397\t22040\t(4629)\t17411\nUnrealized (losses) gains on derivatives:\t\t\t\t\t\t\nUnrealized holding (losses) gains on derivatives arising during the period\t(4892)\t1027\t(3865)\t9\t(2)\t7\nReclassification adjustment for losses on derivatives included in net income\t0\t0\t0\t0\t0\t0\nTotal unrealized (losses) gains on derivatives\t(4892)\t1027\t(3865)\t9\t(2)\t7\nTotal other comprehensive income\t17130\t(3598)\t13532\t22049\t(4631)\t17418\n", "q10k_tbl_11": "\tFor the Three Months Ended September 30\t\t\t\t\t\n\t2020\t\t\t2019\t\t\n\tPretax Amount\tTax (Expense) Benefit\tNet of Tax Amount\tPretax Amount\tTax (Expense) Benefit\tNet of Tax Amount\n\t(dollars in thousands)\t\t\t\t\t\nUnrealized (losses) gains on securities:\t\t\t\t\t\t\nUnrealized holding (losses) gains on securities arising during the period\t(3256)\t684\t(2572)\t3152\t(663)\t2489\nReclassification adjustment for gains on securities included in net income\t(20)\t4\t(16)\t(9)\t2\t(7)\nTotal unrealized (losses) gains on securities\t(3276)\t688\t(2588)\t3143\t(661)\t2482\nUnrealized gains (losses) on derivatives:\t\t\t\t\t\t\nUnrealized holding gains (losses) on derivatives arising during the period\t225\t(48)\t177\t(124)\t26\t(98)\nReclassification adjustment for losses on derivatives included in net income\t0\t0\t0\t0\t0\t0\nTotal unrealized gains (losses) on derivatives\t225\t(48)\t177\t(124)\t26\t(98)\nTotal other comprehensive (loss) income\t(3051)\t640\t(2411)\t3019\t(635)\t2384\n", "q10k_tbl_12": "\t2020\t\t\t\t2019\t\t\t\n\tSecurities Available for Sale\tPost-Retirement Obligation\tDerivatives\tAccumulated Other Comprehensive Income (Loss)\tSecurities Available for Sale\tPost-Retirement Obligation\tDerivatives\tAccumulated Other Comprehensive Income (Loss)\n\t(dollars in thousands)\t\t\t\t\t\t\t\nBalance at December 31\t4580\t365\t634\t5579\t(11697)\t461\t(105)\t(11341)\nOther comprehensive income before reclassification adjustment\t17434\t0\t(3865)\t13569\t17423\t0\t7\t17430\nAmounts reclassified from accumulated other comprehensive (loss) income\t(37)\t0\t0\t(37)\t(12)\t0\t0\t(12)\nNet other comprehensive income during the period\t17397\t0\t(3865)\t13532\t17411\t0\t7\t17418\nBalance at September 30\t21977\t365\t(3231)\t19111\t5714\t461\t(98)\t6077\n", "q10k_tbl_13": "\t2020\t\t\t\t2019\t\t\t\n\tSecurities Available for Sale\tPost-Retirement Obligation\tDerivatives\tAccumulated Other Comprehensive Income (Loss)\tSecurities Available for Sale\tPost-Retirement Obligation\tDerivatives\tAccumulated Other Comprehensive Income (Loss)\n\t(dollars in thousands)\t\t\t\t\t\t\t\nBalance at June 30\t24565\t365\t(3408)\t21522\t3232\t461\t0\t3693\nOther comprehensive (loss) income before reclassification adjustment\t(2572)\t0\t177\t(2395)\t2489\t0\t(98)\t2391\nAmounts reclassified from accumulated other comprehensive (loss) income\t(16)\t0\t0\t(16)\t(7)\t0\t0\t(7)\nNet other comprehensive (loss) income during the period\t(2588)\t0\t177\t(2411)\t2482\t0\t(98)\t2384\nBalance at September 30\t21977\t365\t(3231)\t19111\t5714\t461\t(98)\t6077\n", "q10k_tbl_14": "\t2020\t2019\n\t(dollars in thousands)\t\nCash paid during the period for:\t\t\nInterest\t26687\t42195\nIncome taxes\t16207\t16994\nNon-cash investing and financing activities:\t\t\nLoans transferred to other real estate owned and repossessed assets\t3206\t2754\nLoans transferred from held to maturity to held for sale\t27391\t21620\nLoans transferred from available for sale to held to maturity\t1908\t0\nGross increase in market value adjustment to securities available for sale\t22022\t22041\nGross (decrease) increase in market value adjustment to derivatives\t(4892)\t9\nInvestments committed to purchase not settled\t22644\t0\nNoncash treasury stock reissuance\t1594\t2531\nNet (liabilities) assets acquired through acquisition\t0\t(361895)\nProceeds from death benefit on bank owned life insurance not received\t(384)\t486\n", "q10k_tbl_15": "\tFor the Three Months Ended September 30\t\tFor the Nine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nWeighted average common shares issued\t113914902\t113914902\t113914902\t113914902\nAverage treasury stock shares\t(15821469)\t(15496941)\t(15761114)\t(15396215)\nAverage deferred compensation shares\t(45454)\t(37411)\t(41790)\t(37411)\nAverage unearned nonvested shares\t(130883)\t(113321)\t(121249)\t(117737)\nWeighted average common shares and common stock equivalents used to calculate basic earnings per share\t97917096\t98267229\t97990749\t98363539\nAdditional common stock equivalents (nonvested stock) used to calculate diluted earnings per share\t197545\t243258\t188255\t214837\nAdditional common stock equivalents (deferred compensation) used to calculate diluted earnings per share\t45502\t37411\t45502\t37411\nWeighted average common shares and common stock equivalents used to calculate diluted earnings per share\t98160143\t98547898\t98224506\t98615787\nPer Share Data: Basic Earnings per Share\t0.20\t0.27\t0.49\t0.80\nDiluted Earnings per Share\t0.20\t0.27\t0.49\t0.80\n", "q10k_tbl_16": "\t2020\t\t\t2019\t\t\n\t\tPrice Range\t\t\tPrice Range\t\n\tShares\tFrom\tTo\tShares\tFrom\tTo\nRestricted Stock\t110068\t13.72\t15.44\t95054\t12.99\t15.44\nRestricted Stock Units\t102844\t12.43\t15.37\t24782\t16.62\t16.62\n", "q10k_tbl_17": "\tSeptember 30 2020\tDecember 31 2019\n\t(dollars in thousands)\t\nFinancial instruments whose contract amounts represent credit risk:\t\t\nCommitments to extend credit\t2080476\t1981275\nFinancial standby letters of credit\t13879\t16630\nPerformance standby letters of credit\t17914\t23293\nCommercial letters of credit\t470\t783\n", "q10k_tbl_18": "\tSeptember 30 2020\t\t\t\tDecember 31 2019\t\t\t\n\tAmortized Cost\tGross Unrealized Gains\tGross Unrealized Losses\tEstimated Fair Value\tAmortized Cost\tGross Unrealized Gains\tGross Unrealized Losses\tEstimated Fair Value\n\t(dollars in thousands)\t\t\t\t\t\t\t\nObligations of U.S. Government Agencies:\t\t\t\t\t\t\t\t\nMortgage-Backed Securities - Residential\t6778\t763\t0\t7541\t7745\t596\t0\t8341\nMortgage-Backed Securities - Commercial\t209175\t9377\t0\t218552\t186316\t2983\t(166)\t189133\nObligations of U.S. Government-Sponsored Enterprises:\t\t\t\t\t\t\t\t\nMortgage-Backed Securities - Residential\t527570\t15977\t(4)\t543543\t660777\t4113\t(2943)\t661947\nOther Government-Sponsored Enterprises\t100993\t2\t(2)\t100993\t1000\t0\t0\t1000\nObligations of States and Political Subdivisions\t12965\t208\t(6)\t13167\t17738\t171\t0\t17909\nCorporate Securities\t22935\t1505\t0\t24440\t22919\t1043\t0\t23962\nTotal Securities Available for Sale\t880416\t27832\t(12)\t908236\t896495\t8906\t(3109)\t902292\n", "q10k_tbl_19": "\tAmortized Cost\tEstimated Fair Value\n\t(dollars in thousands)\t\nDue within 1 year\t104991\t105041\nDue after 1 but within 5 years\t20225\t21260\nDue after 5 but within 10 years\t7127\t7749\nDue after 10 years\t4550\t4550\n\t136893\t138600\nMortgage-Backed Securities (a)\t743523\t769636\nTotal Debt Securities\t880416\t908236\n", "q10k_tbl_20": "\t2020\t2019\n\t(dollars in thousands)\t\nProceeds from sales\t0\t0\nGross gains (losses) realized:\t\t\nSales transactions:\t\t\nGross gains\t0\t0\nGross losses\t0\t0\n\t0\t0\nMaturities\t\t\nGross gains\t47\t15\nGross losses\t0\t0\n\t47\t15\nNet gains and impairment\t47\t15\n", "q10k_tbl_21": "\tSeptember 30 2020\t\t\t\tDecember 31 2019\t\t\t\n\tAmortized Cost\tGross Unrealized Gains\tGross Unrealized Losses\tEstimated Fair Value\tAmortized Cost\tGross Unrealized Gains\tGross Unrealized Losses\tEstimated Fair Value\n\t(dollars in thousands)\t\t\t\t\t\t\t\nObligations of U.S. Government Agencies:\t\t\t\t\t\t\t\t\nMortgage-Backed Securities - Residential\t2937\t151\t0\t3088\t3392\t57\t0\t3449\nMortgage-Backed Securities- Commercial\t41334\t1537\t0\t42871\t51291\t18\t(184)\t51125\nObligations of U.S. Government-Sponsored Enterprises:\t\t\t\t\t\t\t\t\nMortgage-Backed Securities - Residential\t171100\t5646\t(19)\t176727\t229667\t1377\t(294)\t230750\nMortgage-Backed Securities - Commercial\t10334\t375\t0\t10709\t12081\t67\t0\t12148\nObligations of States and Political Subdivisions\t42133\t661\t(1)\t42793\t40092\t554\t0\t40646\nDebt Securities Issued by Foreign Governments\t800\t0\t0\t800\t600\t0\t0\t600\nTotal Securities Held to Maturity\t268638\t8370\t(20)\t276988\t337123\t2073\t(478)\t338718\n", "q10k_tbl_22": "\tAmortized Cost\tEstimated Fair Value\n\t(dollars in thousands)\t\nDue within 1 year\t4949\t4974\nDue after 1 but within 5 years\t11195\t11310\nDue after 5 but within 10 years\t19760\t20232\nDue after 10 years\t7029\t7077\n\t42933\t43593\nMortgage-Backed Securities (a)\t225705\t233395\nTotal Debt Securities\t268638\t276988\n", "q10k_tbl_23": "\tLess Than 12 Months\t\t12 Months or More\t\tTotal\t\n\tEstimated Fair Value\tGross Unrealized Losses\tEstimated Fair Value\tGross Unrealized Losses\tEstimated Fair Value\tGross Unrealized Losses\n\t(dollars in thousands)\t\t\t\t\nObligations of U.S. Government-Sponsored Enterprises:\t\t\t\t\t\t\nMortgage-Backed Securities - Residential\t10777\t(23)\t0\t0\t10777\t(23)\nOther Government-Sponsored Enterprises\t998\t(2)\t0\t0\t998\t(2)\nObligations of States and Political Subdivisions\t2207\t(7)\t0\t0\t2207\t(7)\nTotal Securities\t13982\t(32)\t0\t0\t13982\t(32)\n", "q10k_tbl_24": "\tLess Than 12 Months\t\t12 Months or More\t\tTotal\t\n\tEstimated Fair Value\tGross Unrealized Losses\tEstimated Fair Value\tGross Unrealized Losses\tEstimated Fair Value\tGross Unrealized Losses\n\t(dollars in thousands)\t\t\t\t\nObligations of U.S. Government Agencies:\t\t\t\t\t\t\nMortgage-Backed Securities - Commercial\t54501\t(201)\t16365\t(149)\t70866\t(350)\nObligations of U.S. Government-Sponsored Enterprises:\t\t\t\t\t\t\nMortgage-Backed Securities - Residential\t111969\t(436)\t219015\t(2801)\t330984\t(3237)\nTotal Securities\t166470\t(637)\t235380\t(2950)\t401850\t(3587)\n", "q10k_tbl_25": "\tSeptember 30 2020\t\t\tDecember 31 2019\t\t\n\tOriginated\tAcquired\tTotal\tOriginated\tAcquired\tTotal\n\t(dollars in thousands)\t\t\t\t\t\nCommercial financial agricultural and other\t1711614\t25122\t1736736\t1212026\t29827\t1241853\nReal estate construction\t450589\t2400\t452989\t442777\t6262\t449039\nResidential real estate\t1534949\t209071\t1744020\t1415808\t265554\t1681362\nCommercial real estate\t2088217\t127094\t2215311\t1958346\t159173\t2117519\nLoans to individuals\t790471\t10189\t800660\t685416\t13959\t699375\nTotal loans\t6575840\t373876\t6949716\t5714373\t474775\t6189148\n", "q10k_tbl_26": "\tSeptember 30 2020\t\t\t\t\t\n\tCommercial financial agricultural and other\tReal estate construction\tResidential real estate\tCommercial real estate\tLoans to individuals\tTotal\n\t(dollars in thousands)\t\t\t\t\t\nOriginated loans\t\t\t\t\t\t\nPass\t1649458\t450513\t1527225\t1977234\t790222\t6394652\nNon-Pass\t\t\t\t\t\t\nOAEM\t37033\t22\t915\t69450\t0\t107420\nSubstandard\t25123\t54\t6809\t41533\t249\t73768\nDoubtful\t0\t0\t0\t0\t0\t0\nTotal Non-Pass\t62156\t76\t7724\t110983\t249\t181188\nTotal\t1711614\t450589\t1534949\t2088217\t790471\t6575840\nAcquired loans\t\t\t\t\t\t\nPass\t23405\t1588\t207233\t123703\t10178\t366107\nNon-Pass\t\t\t\t\t\t\nOAEM\t196\t504\t511\t136\t0\t1347\nSubstandard\t1521\t308\t1327\t3255\t11\t6422\nDoubtful\t0\t0\t0\t0\t0\t0\nTotal Non-Pass\t1717\t812\t1838\t3391\t11\t7769\nTotal\t25122\t2400\t209071\t127094\t10189\t373876\n", "q10k_tbl_27": "\tDecember 31 2019\t\t\t\t\t\n\tCommercial financial agricultural and other\tReal estate construction\tResidential real estate\tCommercial real estate\tLoans to individuals\tTotal\n\t(dollars in thousands)\t\t\t\t\t\nOriginated loans\t\t\t\t\t\t\nPass\t1171363\t442751\t1406845\t1918690\t685108\t5624757\nNon-Pass\t\t\t\t\t\t\nOAEM\t29359\t26\t475\t13533\t0\t43393\nSubstandard\t11304\t0\t8488\t26123\t308\t46223\nDoubtful\t0\t0\t0\t0\t0\t0\nTotal Non-Pass\t40663\t26\t8963\t39656\t308\t89616\nTotal\t1212026\t442777\t1415808\t1958346\t685416\t5714373\nAcquired loans\t\t\t\t\t\t\nPass\t27696\t5697\t262630\t153814\t13947\t463784\nNon-Pass\t\t\t\t\t\t\nOAEM\t2009\t565\t537\t2072\t0\t5183\nSubstandard\t122\t0\t2387\t3287\t12\t5808\nDoubtful\t0\t0\t0\t0\t0\t0\nTotal Non-Pass\t2131\t565\t2924\t5359\t12\t10991\nTotal\t29827\t6262\t265554\t159173\t13959\t474775\n", "q10k_tbl_28": "\tSeptember 30 2020\t\t\t\t\t\t\n\t30 - 59 days past due\t60 - 89 days past due\t90 days or greater and still accruing\tNonaccrual\tTotal past due and nonaccrual\tCurrent\tTotal\n\t(dollars in thousands)\t\t\t\t\t\t\nOriginated loans\t\t\t\t\t\t\t\nCommercial financial agricultural and other\t1978\t67\t17\t4389\t6451\t1705163\t1711614\nReal estate construction\t0\t0\t0\t54\t54\t450535\t450589\nResidential real estate\t2022\t1554\t458\t5960\t9994\t1524955\t1534949\nCommercial real estate\t517\t122\t0\t30112\t30751\t2057466\t2088217\nLoans to individuals\t1986\t902\t725\t247\t3860\t786611\t790471\nTotal\t6503\t2645\t1200\t40762\t51110\t6524730\t6575840\nAcquired loans\t\t\t\t\t\t\t\nCommercial financial agricultural and other\t38\t0\t0\t74\t112\t25010\t25122\nReal estate construction\t0\t0\t0\t308\t308\t2092\t2400\nResidential real estate\t397\t459\t0\t1262\t2118\t206953\t209071\nCommercial real estate\t0\t136\t0\t233\t369\t126725\t127094\nLoans to individuals\t34\t47\t49\t11\t141\t10048\t10189\nTotal\t469\t642\t49\t1888\t3048\t370828\t373876\n", "q10k_tbl_29": "\tDecember 31 2019\t\t\t\t\t\t\n\t30 - 59 days past due\t60 - 89 days past due\t90 days or greater and still accruing\tNonaccrual\tTotal past due and nonaccrual\tCurrent\tTotal\n\t(dollars in thousands)\t\t\t\t\t\t\nOriginated loans\t\t\t\t\t\t\t\nCommercial financial agricultural and other\t391\t57\t140\t8780\t9368\t1202658\t1212026\nReal estate construction\t198\t0\t9\t0\t207\t442570\t442777\nResidential real estate\t3757\t749\t736\t6646\t11888\t1403920\t1415808\nCommercial real estate\t227\t114\t0\t6609\t6950\t1951396\t1958346\nLoans to individuals\t4070\t1020\t931\t307\t6328\t679088\t685416\nTotal\t8643\t1940\t1816\t22342\t34741\t5679632\t5714373\nAcquired loans\t\t\t\t\t\t\t\nCommercial financial agricultural and other\t1\t0\t1\t74\t76\t29751\t29827\nReal estate construction\t0\t0\t0\t0\t0\t6262\t6262\nResidential real estate\t304\t207\t221\t1949\t2681\t262873\t265554\nCommercial real estate\t0\t107\t0\t298\t405\t158768\t159173\nLoans to individuals\t87\t89\t35\t12\t223\t13736\t13959\nTotal\t392\t403\t257\t2333\t3385\t471390\t474775\n", "q10k_tbl_30": "\tSeptember 30 2020\t\t\tDecember 31 2019\t\t\n\tRecorded investment\tUnpaid principal balance\tRelated allowance\tRecorded investment\tUnpaid principal balance\tRelated allowance\n\t(dollars in thousands)\t\t\t\t\t\nOriginated loans:\t\t\t\t\t\t\nWith no related allowance recorded:\t\t\t\t\t\t\nCommercial financial agricultural and other\t795\t987\t\t1848\t6997\t\nReal estate construction\t54\t53\t\t0\t0\t\nResidential real estate\t9962\t11965\t\t10372\t12437\t\nCommercial real estate\t14228\t14523\t\t3015\t3210\t\nLoans to individuals\t495\t808\t\t406\t640\t\nSubtotal\t25534\t28336\t\t15641\t23284\t\nWith an allowance recorded:\t\t\t\t\t\t\nCommercial financial agricultural and other\t4750\t12778\t1497\t8290\t10032\t1580\nReal estate construction\t0\t0\t0\t0\t0\t0\nResidential real estate\t0\t0\t0\t474\t498\t1\nCommercial real estate\t17389\t17442\t5921\t5293\t5308\t851\nLoans to individuals\t0\t0\t0\t0\t0\t0\nSubtotal\t22139\t30220\t7418\t14057\t15838\t2432\nTotal\t47673\t58556\t7418\t29698\t39122\t2432\n", "q10k_tbl_31": "\tSeptember 30 2020\t\t\tDecember 31 2019\t\t\n\tRecorded investment\tUnpaid principal balance\tRelated allowance\tRecorded investment\tUnpaid principal balance\tRelated allowance\n\t(dollars in thousands)\t\t\t\t\t\nAcquired loans\t\t\t\t\t\t\nWith no related allowance recorded:\t\t\t\t\t\t\nCommercial financial agricultural and other\t74\t74\t\t73\t73\t\nReal estate construction\t308\t308\t\t0\t0\t\nResidential real estate\t1429\t1794\t\t2136\t2585\t\nCommercial real estate\t233\t257\t\t298\t320\t\nLoans to individuals\t11\t14\t\t12\t15\t\nSubtotal\t2055\t2447\t\t2519\t2993\t\nWith an allowance recorded:\t\t\t\t\t\t\nCommercial financial agricultural and other\t0\t0\t0\t0\t0\t0\nReal estate construction\t0\t0\t0\t0\t0\t0\nResidential real estate\t0\t0\t0\t0\t0\t0\nCommercial real estate\t0\t0\t0\t0\t0\t0\nLoans to individuals\t0\t0\t0\t0\t0\t0\nSubtotal\t0\t0\t0\t0\t0\t0\nTotal\t2055\t2447\t0\t2519\t2993\t0\n", "q10k_tbl_32": "\tFor the Nine Months Ended September 30\t\t\t\t\t\t\t\n\t2020\t\t\t\t2019\t\t\t\n\tOriginated Loans\t\tAcquired Loans\t\tOriginated Loans\t\tAcquired Loans\t\n\tAverage recorded investment\tInterest income recognized\tAverage recorded investment\tInterest income recognized\tAverage recorded investment\tInterest income recognized\tAverage recorded investment\tInterest income recognized\n\t(dollars in thousands)\t\t\t\t\t\t\t\nWith no related allowance recorded:\t\t\t\t\t\t\t\t\nCommercial financial agricultural and other\t4062\t15\t74\t0\t2129\t10\t2255\t0\nReal estate construction\t6\t0\t137\t0\t0\t0\t0\t0\nResidential real estate\t10380\t235\t1772\t18\t10751\t280\t1966\t6\nCommercial real estate\t13994\t90\t1453\t76\t3854\t129\t636\t18\nLoans to individuals\t469\t9\t11\t0\t356\t11\t14\t0\nSubtotal\t28911\t349\t3447\t94\t17090\t430\t4871\t24\nWith an allowance recorded:\t\t\t\t\t\t\t\t\nCommercial financial agricultural and other\t4569\t45\t0\t0\t4064\t36\t0\t0\nReal estate construction\t0\t0\t0\t0\t0\t0\t0\t0\nResidential real estate\t0\t0\t0\t0\t347\t6\t0\t0\nCommercial real estate\t13830\t9\t0\t0\t5357\t2\t160\t0\nLoans to individuals\t0\t0\t0\t0\t0\t0\t0\t0\nSubtotal\t18399\t54\t0\t0\t9768\t44\t160\t0\nTotal\t47310\t403\t3447\t94\t26858\t474\t5031\t24\n", "q10k_tbl_33": "\tFor the Three Months Ended September 30\t\t\t\t\t\t\t\n\t2020\t\t\t\t2019\t\t\t\n\tOriginated Loans\t\tAcquired Loans\t\tOriginated Loans\t\tAcquired Loans\t\n\tAverage recorded investment\tInterest Income Recognized\tAverage recorded investment\tInterest Income Recognized\tAverage recorded investment\tInterest Income Recognized\tAverage recorded investment\tInterest Income Recognized\n\t(dollars in thousands)\t\t\t\t\t\t\t\nWith no related allowance recorded:\t\t\t\t\t\t\t\t\nCommercial financial agricultural and other\t1918\t10\t74\t0\t1902\t3\t4697\t0\nReal estate construction\t18\t0\t308\t0\t0\t0\t0\t0\nResidential real estate\t10198\t72\t1473\t1\t10254\t86\t1950\t1\nCommercial real estate\t14312\t23\t1440\t76\t3582\t28\t666\t0\nLoans to individuals\t494\t3\t11\t0\t389\t4\t13\t0\nSubtotal\t26940\t108\t3306\t77\t16127\t121\t7326\t1\nWith an allowance recorded:\t\t\t\t\t\t\t\t\nCommercial financial agricultural and other\t6423\t16\t0\t0\t4677\t8\t0\t0\nReal estate construction\t0\t0\t0\t0\t0\t0\t0\t0\nResidential real estate\t0\t0\t0\t0\t740\t1\t0\t0\nCommercial real estate\t17407\t3\t0\t0\t6443\t1\t155\t0\nLoans to individuals\t0\t0\t0\t0\t0\t0\t0\t0\nSubtotal\t23830\t19\t0\t0\t11860\t10\t155\t0\nTotal\t50770\t127\t3306\t77\t27987\t131\t7481\t1\n", "q10k_tbl_34": "\tSeptember 30 2020\tDecember 31 2019\n\t(dollars in thousands)\t\nTroubled debt restructured loans\t\t\nAccrual status\t7078\t7542\nNonaccrual status\t4511\t6037\nTotal\t11589\t13579\nCommitments\t\t\nLetters of credit\t60\t60\nUnused lines of credit\t21\t163\nTotal\t81\t223\n", "q10k_tbl_35": "\tFor the Nine Months Ended September 30 2020\t\t\t\t\t\t\n\t\tType of Modification\t\t\t\t\t\n\tNumber of Contracts\tExtend Maturity\tModify Rate\tModify Payments\tTotal Pre-Modification Outstanding Recorded Investment\tPost- Modification Outstanding Recorded Investment\tSpecific Reserve\n\t(dollars in thousands)\t\t\t\t\t\t\nCommercial financial agricultural and other\t1\t0\t629\t0\t629\t625\t489\nResidential real estate\t16\t0\t33\t844\t877\t729\t0\nCommercial real estate\t2\t0\t0\t12\t12\t8\t0\nLoans to individuals\t14\t0\t114\t149\t263\t245\t0\nTotal\t33\t0\t776\t1005\t1781\t1607\t489\n", "q10k_tbl_36": "\tFor the Nine Months Ended September 30 2019\t\t\t\t\t\t\n\t\tType of Modification\t\t\t\t\t\n\tNumber of Contracts\tExtend Maturity\tModify Rate\tModify Payments\tTotal Pre-Modification Outstanding Recorded Investment\tPost- Modification Outstanding Recorded Investment\tSpecific Reserve\n\t(dollars in thousands)\t\t\t\t\t\t\nCommercial financial agricultural and other\t2\t0\t0\t156\t156\t157\t0\nResidential real estate\t14\t17\t149\t842\t1008\t933\t1\nCommercial real estate\t3\t0\t0\t6119\t6119\t5740\t397\nLoans to individuals\t7\t0\t0\t98\t98\t87\t0\nTotal\t26\t17\t149\t7215\t7381\t6917\t398\n", "q10k_tbl_37": "\tFor the Three Months Ended September 30 2020\t\t\t\t\t\t\n\t\tType of Modification\t\t\t\t\t\n\tNumber of Contracts\tExtend Maturity\tModify Rate\tModify Payments\tTotal Pre-Modification Outstanding Recorded Investment\tPost- Modification Outstanding Recorded Investment\tSpecific Reserve\n\t(dollars in thousands)\t\t\t\t\t\t\nCommercial financial agricultural and other\t1\t0\t629\t0\t629\t625\t489\nResidential real estate\t12\t0\t33\t580\t613\t477\t0\nLoans to individuals\t4\t0\t43\t24\t67\t63\t0\nTotal\t17\t0\t705\t604\t1309\t1165\t489\n", "q10k_tbl_38": "\tFor the Three Months Ended September 30 2019\t\t\t\t\t\t\n\t\tType of Modification\t\t\t\t\t\n\tNumber of Contracts\tExtend Maturity\tModify Rate\tModify Payments\tTotal Pre-Modification Outstanding Recorded Investment\tPost- Modification Outstanding Recorded Investment\tSpecific Reserve\n\t(dollars in thousands)\t\t\t\t\t\t\nCommercial financial agricultural and other\t1\t0\t0\t95\t95\t96\t0\nResidential real estate\t3\t0\t32\t53\t85\t85\t0\nLoans to individuals\t2\t0\t0\t37\t37\t34\t0\nTotal\t6\t0\t32\t185\t217\t215\t0\n", "q10k_tbl_39": "\t2020\t\t2019\t\n\tNumber of Contracts\tRecorded Investment\tNumber of Contracts\tRecorded Investment\n\t(dollars in thousands)\t\t\t\nResidential real estate\t1\t50\t3\t70\nCommercial real estate\t1\t112\t0\t0\nLoans to individuals\t2\t78\t0\t0\nTotal\t4\t240\t3\t70\n", "q10k_tbl_40": "\t2020\t\t2019\t\n\tNumber of Contracts\tRecorded Investment\tNumber of Contracts\tRecorded Investment\n\t(dollars in thousands)\t\t\t\nResidential real estate\t0\t0\t2\t49\nCommercial real estate\t1\t112\t0\t0\nLoans to individuals\t2\t78\t0\t0\nTotal\t3\t190\t2\t49\n", "q10k_tbl_41": "\tFor the Nine Months Ended September 30 2020\t\t\t\t\n\tCommercial financial agricultural and other\tReal estate construction\tResidential real estate\tCommercial real estate\tLoans to individuals\t\t\t\tTotal\t\t\n\t(dollars in thousands)\t\t\t\t\nAllowance for credit losses:\t\t\t\t\t\t\t\t\t\t\t\nOriginated loans:\t\t\t\t\t\t\t\t\t\t\t\nBeginning balance\t20221\t2558\t4091\t19731\t4984\t\t\t\t51585\t\t\nCharge-offs\t(5166)\t0\t(720)\t(2415)\t(4958)\t\t\t\t(13259)\t\t\nRecoveries\t161\t26\t274\t154\t702\t\t\t\t1317\t\t\nProvision (credit)\t9936\t924\t4607\t23132\t8087\t\t\t\t46686\t\t\nEnding balance\t25152\t3508\t8252\t40602\t8815\t\t\t\t86329\t\t\nAcquired loans:\t\t\t\t\t\t\t\t\t\t\t\nBeginning balance\t13\t0\t2\t37\t0\t\t\t\t52\t\t\nCharge-offs\t0\t0\t(213)\t(2)\t(287)\t\t\t\t(502)\t\t\nRecoveries\t28\t0\t38\t0\t10\t\t\t\t76\t\t\nProvision (credit)\t295\t0\t173\t1607\t277\t\t\t\t2352\t\t\nEnding balance\t336\t0\t0\t1642\t0\t\t\t\t1978\t\t\nTotal ending balance\t25488\t3508\t8252\t42244\t8815\t\t\t\t88307\t\t\nEnding balance: individually evaluated for impairment\t1497\t0\t0\t5921\t0\t\t\t\t7418\t\t\nEnding balance: collectively evaluated for impairment\t23991\t3508\t8252\t36323\t8815\t\t\t\t80889\t\t\nLoans:\t\t\t\t\t\t\t\t\t\t\t\nEnding balance\t1736736\t452989\t1744020\t2215311\t800660\t\t\t\t6949716\t\t\nEnding balance: individually evaluated for impairment\t5048\t308\t1226\t30387\t0\t\t\t\t36969\t\t\nEnding balance: collectively evaluated for impairment\t1731688\t452681\t1742794\t2184924\t800660\t\t\t\t6912747\t\t\n", "q10k_tbl_42": "\tFor the Nine Months Ended September 30 2019\t\t\t\t\n\tCommercial financial agricultural and other\tReal estate construction\tResidential real estate\tCommercial real estate\tLoans to individuals\t\t\t\tTotal\t\t\n\t(dollars in thousands)\t\t\t\t\nAllowance for credit losses:\t\t\t\t\t\t\t\t\t\t\t\nOriginated loans:\t\t\t\t\t\t\t\t\t\t\t\nBeginning balance\t19235\t2002\t3934\t18382\t4033\t\t\t\t47586\t\t\nCharge-offs\t(1584)\t0\t(617)\t(305)\t(4049)\t\t\t\t(6555)\t\t\nRecoveries\t180\t158\t190\t160\t419\t\t\t\t1107\t\t\nProvision (credit)\t2109\t250\t409\t790\t4310\t\t\t\t7868\t\t\nEnding balance\t19940\t2410\t3916\t19027\t4713\t\t\t\t50006\t\t\nAcquired loans:\t\t\t\t\t\t\t\t\t\t\t\nBeginning balance\t139\t0\t35\t4\t0\t\t\t\t178\t\t\nCharge-offs\t(601)\t0\t(46)\t(1376)\t(9)\t\t\t\t(2032)\t\t\nRecoveries\t53\t0\t46\t0\t14\t\t\t\t113\t\t\nProvision (credit)\t416\t0\t(34)\t1393\t(5)\t\t\t\t1770\t\t\nEnding balance\t7\t0\t1\t21\t0\t\t\t\t29\t\t\nTotal ending balance\t19947\t2410\t3917\t19048\t4713\t\t\t\t50035\t\t\nEnding balance: individually evaluated for impairment\t1054\t0\t4\t488\t0\t\t\t\t1546\t\t\nEnding balance: collectively evaluated for impairment\t18893\t2410\t3913\t18560\t4713\t\t\t\t48489\t\t\nLoans:\t\t\t\t\t\t\t\t\t\t\t\nEnding balance\t1210936\t420281\t1666220\t2124240\t677884\t\t\t\t6099561\t\t\nEnding balance: individually evaluated for impairment\t10417\t0\t4102\t10825\t0\t\t\t\t25344\t\t\nEnding balance: collectively evaluated for impairment\t1200519\t420281\t1662118\t2113415\t677884\t\t\t\t6074217\t\t\n", "q10k_tbl_43": "\tFor the Three Months Ended September 30 2020\t\t\t\t\n\tCommercial financial agricultural and other\tReal estate construction\tResidential real estate\tCommercial real estate\tLoans to individuals\t\t\t\tTotal\t\t\n\t(dollars in thousands)\t\t\t\t\nAllowance for credit losses:\t\t\t\t\t\t\t\t\t\t\t\nOriginated loans:\t\t\t\t\t\t\t\t\t\t\t\nBeginning balance\t24812\t3067\t9239\t33130\t9334\t\t\t\t79582\t\t\nCharge-offs\t(3395)\t0\t(161)\t0\t(1149)\t\t\t\t(4705)\t\t\nRecoveries\t44\t0\t153\t110\t226\t\t\t\t533\t\t\nProvision (credit)\t3691\t441\t(979)\t7362\t404\t\t\t\t10919\t\t\nEnding balance\t25152\t3508\t8252\t40602\t8815\t\t\t\t86329\t\t\nAcquired loans:\t\t\t\t\t\t\t\t\t\t\t\nBeginning balance\t332\t171\t0\t1356\t0\t\t\t\t1859\t\t\nCharge-offs\t0\t0\t(122)\t0\t(80)\t\t\t\t(202)\t\t\nRecoveries\t13\t0\t13\t0\t2\t\t\t\t28\t\t\nProvision (credit)\t(9)\t(171)\t109\t286\t78\t\t\t\t293\t\t\nEnding balance\t336\t0\t0\t1642\t0\t\t\t\t1978\t\t\nTotal ending balance\t25488\t3508\t8252\t42244\t8815\t\t\t\t88307\t\t\n", "q10k_tbl_44": "\tFor the Three Months Ended September 30 2019\t\t\t\t\n\tCommercial financial agricultural and other\tReal estate construction\tResidential real estate\tCommercial real estate\tLoans to individuals\t\t\t\tTotal\t\t\n\t(dollars in thousands)\t\t\t\t\nAllowance for credit losses:\t\t\t\t\t\t\t\t\t\t\t\nOriginated loans:\t\t\t\t\t\t\t\t\t\t\t\nBeginning balance\t20678\t2491\t4133\t19287\t4407\t\t\t\t50996\t\t\nCharge-offs\t(742)\t0\t(383)\t(6)\t(1571)\t\t\t\t(2702)\t\t\nRecoveries\t41\t74\t6\t81\t162\t\t\t\t364\t\t\nProvision (credit)\t(37)\t(155)\t160\t(335)\t1715\t\t\t\t1348\t\t\nEnding balance\t19940\t2410\t3916\t19027\t4713\t\t\t\t50006\t\t\nAcquired loans:\t\t\t\t\t\t\t\t\t\t\t\nBeginning balance\t15\t0\t25\t25\t0\t\t\t\t65\t\t\nCharge-offs\t(49)\t0\t0\t(1376)\t(3)\t\t\t\t(1428)\t\t\nRecoveries\t21\t0\t11\t0\t0\t\t\t\t32\t\t\nProvision (credit)\t20\t0\t(35)\t1372\t3\t\t\t\t1360\t\t\nEnding balance\t7\t0\t1\t21\t0\t\t\t\t29\t\t\nTotal ending balance\t19947\t2410\t3917\t19048\t4713\t\t\t\t50035\t\t\n", "q10k_tbl_45": "\t\t\tSeptember 30 2020\tDecember 31 2019\nBalance sheet:\t\t\t\t\nOperating lease asset classified as premises and equipment\t\t\t43180\t48642\nOperating lease liability classified as other liabilities\t\t\t47791\t52894\n\tFor the Three Months Ended\t\tFor the Nine Months Ended\t\n\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\tSeptember 30 2019\nIncome statement:\t\t\t\t\nOperating lease cost classified as occupancy and equipment expense\t1545\t1275\t4281\t3959\nWeighted average lease term in years\t\t\t15.10\t15.44\nWeighted average discount rate\t\t\t3.42%\t3.42%\nOperating cash flows\t\t\t2007\t3351\n", "q10k_tbl_46": "For the twelve months ended:\t\nSeptember 30 2021\t4823\nSeptember 30 2022\t4600\nSeptember 30 2023\t4490\nSeptember 30 2024\t4427\nSeptember 30 2025\t4312\nThereafter\t39752\nTotal future minimum lease payments\t62404\nLess remaining imputed interest\t14613\nOperating lease liability\t47791\n", "q10k_tbl_47": "\tFair Value (dollars in thousands)\t\tValuation Technique\tUnobservable Inputs\tRange / (weighted average)\nSeptember 30 2020\t\t\t\t\t\nOther Investments\t1670\t\tCarryingValue\tN/A\tN/A\nImpaired Loans\t758\t(a)\tGas Reserve Study\tDiscount rate\t10.00%\n\t\t\t\tGas per MMBTU\t1.46 - $1.48 (b)\n\t\t\t\tOil per BBL/d\t36.00 - $36.00 (b)\nLimited Partnership Investments\t6546\t\tPar Value\tN/A\tN/A\nDecember 31 2019\t\t\t\t\t\nOther Investments\t1670\t\tCarryingValue\tN/A\tN/A\nImpaired Loans\t884\t(a)\tGas Reserve Study\tDiscount rate\t10.00%\n\t\t\t\tGas per MMBTU\t2.61 - $3.49 (b)\n\t\t\t\tOil per BBL/d\t47.09 - $53.14 (b)\n\t2239\t\tDiscounted Cash Flow\tDiscount Rate\t3.84 - $9.50\nLimited Partnership Investments\t5795\t\tPar Value\tN/A\tN/A\n", "q10k_tbl_48": "\tSeptember 30 2020\t\t\t\n\tLevel 1\tLevel 2\tLevel 3\tTotal\n\t(dollars in thousands)\t\t\t\nObligations of U.S. Government Agencies:\t\t\t\t\nMortgage-Backed Securities - Residential\t0\t7541\t0\t7541\nMortgage-Backed Securities - Commercial\t0\t218552\t0\t218552\nObligations of U.S. Government-Sponsored Enterprises:\t\t\t\t\nMortgage-Backed Securities - Residential\t0\t543543\t0\t543543\nOther Government-Sponsored Enterprises\t0\t100993\t0\t100993\nObligations of States and Political Subdivisions\t0\t13167\t0\t13167\nCorporate Securities\t0\t24440\t0\t24440\nTotal Securities Available for Sale\t0\t908236\t0\t908236\nOther Investments\t0\t11296\t1670\t12966\nLoans Held for Sale\t0\t37998\t0\t37998\nPremises and Equipment net\t0\t442\t0\t442\nOther Assets(a)\t0\t60563\t6546\t67109\nTotal Assets\t0\t1018535\t8216\t1026751\nOther Liabilities(a)\t0\t67241\t0\t67241\nTotal Liabilities\t0\t67241\t0\t67241\n", "q10k_tbl_49": "\tDecember 31 2019\t\t\t\n\tLevel 1\tLevel 2\tLevel 3\tTotal\n\t(dollars in thousands)\t\t\t\nObligations of U.S. Government Agencies:\t\t\t\t\nMortgage-Backed Securities - Residential\t0\t8341\t0\t8341\nMortgage-Backed Securities - Commercial\t0\t189133\t0\t189133\nObligations of U.S. Government-Sponsored Enterprises:\t\t\t\t\nMortgage-Backed Securities - Residential\t0\t661947\t0\t661947\nOther Government-Sponsored Enterprises\t0\t1000\t0\t1000\nObligations of States and Political Subdivisions\t0\t17909\t0\t17909\nCorporate Securities\t0\t23962\t0\t23962\nTotal Securities Available for Sale\t0\t902292\t0\t902292\nOther Investments\t0\t15091\t1670\t16761\nLoans Held for Sale\t0\t15989\t0\t15989\nOther Assets(a)\t0\t21894\t5795\t27689\nTotal Assets\t0\t955266\t7465\t962731\nOther Liabilities(a)\t0\t21469\t0\t21469\nTotal Liabilities\t0\t21469\t0\t21469\n", "q10k_tbl_50": "\t2020\t\n\tOther Investments\tOther Assets\t\t\t\tTotal\t\t\n\t(dollars in thousands)\t\nBalance beginning of period\t1670\t5795\t\t\t\t7465\t\t\nTotal gains or losses\t\t\t\t\t\t\t\t\nIncluded in earnings\t0\t0\t\t\t\t0\t\t\nIncluded in other comprehensive income\t0\t0\t\t\t\t0\t\t\nPurchases issuances sales and settlements\t\t\t\t\t\t\t\t\nPurchases\t0\t751\t\t\t\t751\t\t\nIssuances\t0\t0\t\t\t\t0\t\t\nSales\t0\t0\t\t\t\t0\t\t\nSettlements\t0\t0\t\t\t\t0\t\t\nTransfers from Level 3\t0\t0\t\t\t\t0\t\t\nTransfers into Level 3\t0\t0\t\t\t\t0\t\t\nBalance end of period\t1670\t6546\t\t\t\t8216\t\t\n", "q10k_tbl_51": "\t2019\t\n\tOther Investments\tOther Assets\t\t\t\tTotal\t\t\n\t(dollars in thousands)\t\nBalance beginning of period\t1670\t2696\t\t\t\t4366\t\t\nTotal gains or losses\t\t\t\t\t\t\t\t\nIncluded in earnings\t0\t198\t\t\t\t198\t\t\nIncluded in other comprehensive income\t0\t0\t\t\t\t0\t\t\nPurchases issuances sales and settlements\t\t\t\t\t\t\t\t\nPurchases\t0\t1237\t\t\t\t1237\t\t\nIssuances\t0\t0\t\t\t\t0\t\t\nSales\t0\t0\t\t\t\t0\t\t\nSettlements\t0\t0\t\t\t\t0\t\t\nTransfers from Level 3\t0\t0\t\t\t\t0\t\t\nTransfers into Level 3\t0\t0\t\t\t\t0\t\t\nBalance end of period\t1670\t4131\t\t\t\t5801\t\t\n", "q10k_tbl_52": "\t2020\t\n\tOther Investments\tOther Assets\t\t\t\tTotal\t\t\n\t(dollars in thousands)\t\nBalance beginning of period\t1670\t6406\t\t\t\t8076\t\t\nTotal gains or losses\t\t\t\t\t\t\t\t\nIncluded in earnings\t0\t0\t\t\t\t0\t\t\nIncluded in other comprehensive income\t0\t0\t\t\t\t0\t\t\nPurchases issuances sales and settlements\t\t\t\t\t\t\t\t\nPurchases\t0\t140\t\t\t\t140\t\t\nIssuances\t0\t0\t\t\t\t0\t\t\nSales\t0\t0\t\t\t\t0\t\t\nSettlements\t0\t0\t\t\t\t0\t\t\nTransfers from Level 3\t0\t0\t\t\t\t0\t\t\nTransfers into Level 3\t0\t0\t\t\t\t0\t\t\nBalance end of period\t1670\t6546\t\t\t\t8216\t\t\n", "q10k_tbl_53": "\t2019\t\n\tOther Investments\tOther Assets\t\t\t\tTotal\t\t\n\t(dollars in thousands)\t\nBalance beginning of period\t1670\t3312\t\t\t\t4982\t\t\nTotal gains or losses\t\t\t\t\t\t\t\t\nIncluded in earnings\t0\t245\t\t\t\t245\t\t\nIncluded in other comprehensive income\t0\t0\t\t\t\t0\t\t\nPurchases issuances sales and settlements\t\t\t\t\t\t\t\t\nPurchases\t0\t574\t\t\t\t574\t\t\nIssuances\t0\t0\t\t\t\t0\t\t\nSales\t0\t0\t\t\t\t0\t\t\nSettlements\t0\t0\t\t\t\t0\t\t\nTransfers from Level 3\t0\t0\t\t\t\t0\t\t\nTransfers into Level 3\t0\t0\t\t\t\t0\t\t\nBalance end of period\t1670\t4131\t\t\t\t5801\t\t\n", "q10k_tbl_54": "\tSeptember 30 2020\t\t\t\n\tLevel 1\tLevel 2\tLevel 3\tTotal\n\t(dollars in thousands)\t\t\t\nImpaired loans\t0\t28793\t13517\t42310\nOther real estate owned\t0\t1183\t0\t1183\nTotal Assets\t0\t29976\t13517\t43493\n", "q10k_tbl_55": "\tDecember 31 2019\t\t\t\n\tLevel 1\tLevel 2\tLevel 3\tTotal\n\t(dollars in thousands)\t\t\t\nImpaired loans\t0\t12267\t17518\t29785\nOther real estate owned\t0\t2608\t0\t2608\nTotal Assets\t0\t14875\t17518\t32393\n", "q10k_tbl_56": "\tFor the Three Months Ended September 30\t\tFor the Nine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\n\t(dollars in thousands)\t\t\t\nImpaired loans2\t(3695)\t(954)\t(9940)\t(2606)\nOther real estate owned\t(4)\t(42)\t(4)\t(51)\nTotal losses\t(3699)\t(996)\t(9944)\t(2657)\n", "q10k_tbl_57": "\tSeptember 30 2020\t\t\t\t\n\t\tFair Value Measurements Using:\t\t\t\n\tCarrying Amount\tTotal\tLevel 1\tLevel 2\tLevel 3\n\t(dollars in thousands)\t\t\t\t\nFinancial assets\t\t\t\t\t\nCash and due from banks\t97060\t97060\t97060\t0\t0\nInterest-bearing deposits\t283037\t283037\t283037\t0\t0\nSecurities available for sale\t908236\t908236\t0\t908236\t0\nSecurities held to maturity\t268638\t276988\t0\t276988\t0\nOther investments\t12966\t12966\t0\t11296\t1670\nLoans held for sale\t37998\t37998\t0\t37998\t0\nLoans\t6949716\t7391037\t0\t28793\t7362244\nFinancial liabilities\t\t\t\t\t\nDeposits\t7703907\t7707618\t0\t7707618\t0\nShort-term borrowings\t122356\t121828\t0\t121828\t0\nSubordinated debt\t170572\t164565\t0\t0\t164565\nLong-term debt\t56424\t58372\t0\t58372\t0\nCapital lease obligation\t6494\t6494\t0\t6494\t0\n", "q10k_tbl_58": "\tDecember 31 2019\t\t\t\t\n\t\tFair Value Measurements Using:\t\t\t\n\tCarrying Amount\tTotal\tLevel 1\tLevel 2\tLevel 3\n\t(dollars in thousands)\t\t\t\t\nFinancial assets\t\t\t\t\t\nCash and due from banks\t102346\t102346\t102346\t0\t0\nInterest-bearing deposits\t19510\t19510\t19510\t0\t0\nSecurities available for sale\t902292\t902292\t0\t902292\t0\nSecurities held to maturity\t337123\t338718\t0\t338718\t0\nOther investments\t16761\t16761\t0\t15091\t1670\nLoans held for sale\t15989\t15989\t0\t15989\t0\nLoans\t6189148\t6393872\t0\t12267\t6381605\nFinancial liabilities\t\t\t\t\t\nDeposits\t6677615\t6677595\t0\t6677595\t0\nShort-term borrowings\t201853\t201151\t0\t201151\t0\nSubordinated debt\t170450\t171772\t0\t0\t171772\nLong-term debt\t56917\t58051\t0\t58051\t0\nCapital lease obligation\t6815\t6815\t0\t6815\t0\n", "q10k_tbl_59": "\tSeptember 30 2020\tDecember 31 2019\n\t(dollars in thousands)\t\nDerivatives not Designated as Hedging Instruments\t\t\nCredit value adjustment\t(2394)\t(272)\nNotional amount:\t\t\nInterest rate derivatives\t610994\t587275\nInterest rate caps\t75685\t87188\nInterest rate collars\t35354\t35354\nRisk participation agreements\t228853\t164632\nSold credit protection on risk participation agreements\t(78656)\t(69011)\nInterest rate options\t49105\t25460\nDerivatives Designated as Hedging Instruments\t\t\nInterest rate swaps:\t\t\nFair value adjustment\t(4091)\t801\nNotional amount\t70000\t70000\nInterest rate forwards:\t\t\nFair value adjustment\t(195)\t(63)\nNotional amount\t42000\t30000\nForeign exchange forwards:\t\t\nFair value adjustment\t2\t(41)\nNotional amount\t2362\t4789\n", "q10k_tbl_60": "\tFor the Three Months Ended September 30\t\tFor the Nine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\n\t(dollars in thousands)\t\t\t\nNon-hedging interest rate derivatives\t\t\t\t\nIncrease (decrease) in other income\t142\t(33)\t(611)\t420\nIncrease in other expense\t0\t0\t0\t0\nHedging interest rate derivatives\t\t\t\t\nDecrease in interest and fees on loans\t0\t0\t0\t(118)\nIncrease (decrease) in interest from subordinated debentures\t208\t(70)\t219\t(70)\nIncrease in other expense\t0\t0\t0\t7\nHedging interest rate forwards\t\t\t\t\n(Decrease) increase in other income\t(102)\t201\t132\t122\nIncrease in other expense\t0\t0\t0\t0\nHedging foreign exchange forwards\t\t\t\t\nIncrease in other expense\t3\t3\t15\t4\n", "q10k_tbl_61": "\t\tSeptember 30 2020\t\tDecember 31 2019\t\n\tDue\tAmount\tRate\tAmount\tRate\n\t\t(dollars in thousands)\t\t\t\nOwed to:\t\t\t\t\t\nFirst Commonwealth Bank\t2028\t49291\t4.875% until June 1 2023 then LIBOR + 1.845%\t49222\t4.875% until June 1 2023 then LIBOR + 1.845%\nFirst Commonwealth Bank\t2033\t49114\t5.50% until June 1 2028 then LIBOR + 2.37%\t49061\t5.50% until June 1 2028 then LIBOR + 2.37%\nFirst Commonwealth Capital Trust II\t2034\t30929\tLIBOR + 2.85%\t30929\tLIBOR + 2.85%\nFirst Commonwealth Capital Trust III\t2034\t41238\tLIBOR + 2.85%\t41238\tLIBOR + 2.85%\nTotal\t\t170572\t\t170450\t\n", "q10k_tbl_62": "\tFor the Three Months Ended September 30\t\tFor the Nine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\n\t(dollars in thousands)\t\t\t\nNoninterest Income\t\t\t\t\nIn-scope of Topic 606:\t\t\t\t\nTrust income\t2554\t2325\t6774\t6221\nService charges on deposit accounts\t4035\t4954\t12066\t13792\nInsurance and retail brokerage commissions\t2156\t1912\t5982\t5887\nCard-related interchange income\t6441\t5629\t17589\t15800\nGain on sale of other loans and assets\t520\t181\t853\t861\nOther income\t945\t937\t2713\t2789\nNoninterest Income (in-scope of Topic 606)\t16651\t15938\t45977\t45350\nNoninterest Income (out-of-scope of Topic 606)\t10118\t6241\t21877\t17607\nTotal Noninterest Income\t26769\t22179\t67854\t62957\n", "q10k_tbl_63": "\tFor the Three Months Ended September 30\t\tFor the Nine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\n\t(dollars in thousands except per share data)\t\t\t\nNet Income\t19186\t26644\t47764\t78513\nPer Share Data:\t\t\t\t\nPer Share Data: Basic Earnings per Share\t0.20\t0.27\t0.49\t0.80\nDiluted Earnings per Share\t0.20\t0.27\t0.49\t0.80\nCash Dividends Declared per Common Share\t0.11\t0.10\t0.33\t0.30\nAverage Balance:\t\t\t\t\nTotal assets\t9389965\t8050052\t8925315\t7972438\nTotal equity\t1088101\t1033903\t1077030\t1010227\nEnd of Period Balance:\t\t\t\t\nNet loans (1)\t\t\t6899407\t6069814\nTotal assets\t\t\t9289366\t8152027\nTotal deposits\t\t\t7703907\t6677996\nTotal equity\t\t\t1072831\t1039030\nKey Ratios:\t\t\t\t\nReturn on average assets\t0.81%\t1.31%\t0.71%\t1.32%\nReturn on average equity\t7.01%\t10.22%\t5.92%\t10.39%\nDividends payout ratio\t55.00%\t37.04%\t67.35%\t37.50%\nAverage equity to average assets ratio\t11.59%\t12.84%\t12.07%\t12.67%\nNet interest margin\t3.11%\t3.76%\t3.34%\t3.75%\nNet loans to deposits ratio\t\t\t89.56%\t90.89%\n", "q10k_tbl_64": "\t2020\t2019\n\t(dollars in thousands)\t\nInterest income per Consolidated Statements of Income\t227903\t244226\nAdjustment to fully taxable equivalent basis\t1129\t1341\nInterest income adjusted to fully taxable equivalent basis (non-GAAP)\t229032\t245567\nInterest expense\t27124\t43169\nNet interest income adjusted to fully taxable equivalent basis (non-GAAP)\t201908\t202398\n", "q10k_tbl_65": "\t2020\t\t\t2019\t\t\n\tAverage Balance\tIncome / Expense (a)\tYield or Rate\tAverage Balance\tIncome / Expense (a)\tYield or Rate\n\t(dollars in thousands)\t\t\t\t\t\nAssets\t\t\t\t\t\t\nInterest-earning assets:\t\t\t\t\t\t\nInterest-bearing deposits with banks\t173058\t163\t0.13%\t5591\t181\t4.33%\nTax-free investment securities\t47197\t1075\t3.04\t67158\t1557\t3.10\nTaxable investment securities\t1187354\t19600\t2.20\t1200845\t24290\t2.70\nLoans net of unearned income (b)(c)(e)\t6670819\t208194\t4.17\t5935427\t219539\t4.95\nTotal interest-earning assets\t8078428\t229032\t3.79\t7209021\t245567\t4.55\nNoninterest-earning assets:\t\t\t\t\t\t\nCash\t98345\t\t\t91954\t\t\nAllowance for credit losses\t(72256)\t\t\t(51192)\t\t\nOther assets\t820798\t\t\t722655\t\t\nTotal noninterest-earning assets\t846887\t\t\t763417\t\t\nTotal Assets\t8925315\t\t\t7972438\t\t\nLiabilities and Shareholders' Equity\t\t\t\t\t\t\nInterest-bearing liabilities:\t\t\t\t\t\t\nInterest-bearing demand deposits (d)\t1534147\t1702\t0.15%\t1272065\t5511\t0.58%\nSavings deposits (d)\t3000925\t8494\t0.38\t2524703\t10906\t0.58\nTime deposits\t766106\t8560\t1.49\t866746\t10881\t1.68\nShort-term borrowings\t146270\t670\t0.61\t489562\t8075\t2.21\nLong-term debt\t233818\t7698\t4.40\t210353\t7796\t4.96\nTotal interest-bearing liabilities\t5681266\t27124\t0.64\t5363429\t43169\t1.08\nNoninterest-bearing liabilities and shareholders' equity:\t\t\t\t\t\t\nNoninterest-bearing demand deposits (d)\t2030364\t\t\t1507826\t\t\nOther liabilities\t136655\t\t\t90956\t\t\nShareholders' equity\t1077030\t\t\t1010227\t\t\nTotal Noninterest-Bearing Funding Sources\t3244049\t\t\t2609009\t\t\nTotal Liabilities and Shareholders' Equity\t8925315\t\t\t7972438\t\t\nNet Interest Income and Net Yield on Interest-Earning Assets\t\t201908\t3.34%\t\t202398\t3.75%\n", "q10k_tbl_66": "\tAnalysis of Year-to-Year Changes in Net Interest Income\t\t\n\tTotal Change\tChange Due To Volume\tChange Due To Rate (a)\n\t(dollars in thousands)\t\t\nInterest-earning assets:\t\t\t\nInterest-bearing deposits with banks\t(18)\t5424\t(5442)\nTax-free investment securities\t(482)\t(463)\t(19)\nTaxable investment securities\t(4690)\t(272)\t(4418)\nLoans\t(11345)\t27227\t(38572)\nTotal interest income (b)\t(16535)\t31916\t(48451)\nInterest-bearing liabilities:\t\t\t\nInterest-bearing demand deposits\t(3809)\t1137\t(4946)\nSavings deposits\t(2412)\t2066\t(4478)\nTime deposits\t(2321)\t(1265)\t(1056)\nShort-term borrowings\t(7405)\t(5674)\t(1731)\nLong-term debt\t(98)\t871\t(969)\nTotal interest expense\t(16045)\t(2865)\t(13180)\nNet interest income\t(490)\t34781\t(35271)\n", "q10k_tbl_67": "\t2020\t\t2019\t\n\tDollars\tPercentage\tDollars\tPercentage\n\t(dollars in thousands)\t\t\t\nCommercial financial agricultural and other\t10231\t21%\t2525\t26%\nReal estate construction\t924\t2\t250\t2\nResidential real estate\t4780\t10\t375\t4\nCommercial real estate\t24739\t50\t2183\t23\nLoans to individuals\t8364\t17\t4305\t45\nTotal\t49038\t100%\t9638\t100%\n", "q10k_tbl_68": "\tSeptember 30 2020\tSeptember 30 2019\tDecember 31 2019\n\t(dollars in thousands)\t\t\nBalance beginning of period\t51637\t47764\t47764\nLoans charged off:\t\t\t\nCommercial financial agricultural and other\t5166\t2185\t3393\nReal estate construction\t0\t0\t0\nResidential real estate\t933\t663\t1042\nCommercial real estate\t2417\t1681\t2008\nLoans to individuals\t5245\t4058\t5831\nTotal loans charged off\t13761\t8587\t12274\nRecoveries of loans previously charged off:\t\t\t\nCommercial financial agricultural and other\t189\t233\t326\nReal estate construction\t26\t158\t158\nResidential real estate\t312\t236\t315\nCommercial real estate\t154\t160\t189\nLoans to individuals\t712\t433\t626\nTotal recoveries\t1393\t1220\t1614\nNet credit losses\t12368\t7367\t10660\nProvision charged to expense\t49038\t9638\t14533\nBalance end of period\t88307\t50035\t51637\n", "q10k_tbl_69": "\t2020\t2019\t Change\t% Change\n\t(dollars in thousands)\t\t\t\nNoninterest Income:\t\t\t\t\nTrust income\t6774\t6221\t553\t9%\nService charges on deposit accounts\t12066\t13792\t(1726)\t(13)\nInsurance and retail brokerage commissions\t5982\t5887\t95\t2\nIncome from bank owned life insurance\t4963\t4408\t555\t13\nCard-related interchange income\t17589\t15800\t1789\t11\nSwap fee income\t864\t1634\t(770)\t(47)\nOther income\t5314\t5356\t(42)\t(1)\nSubtotal\t53552\t53098\t454\t1\nNet securities gains\t47\t15\t32\t213\nGain on sale of mortgage loans\t13226\t6101\t7125\t117\nGain on sale of other loans and assets\t3151\t3831\t(680)\t(18)\nDerivatives mark to market\t(2122)\t(88)\t(2034)\t2311\nTotal noninterest income\t67854\t62957\t4897\t8%\n", "q10k_tbl_70": "\t2020\t2019\t Change\t% Change\n\t(dollars in thousands)\t\t\t\nNoninterest Expense:\t\t\t\t\nSalaries and employee benefits\t87573\t83205\t4368\t5%\nNet occupancy\t13979\t13878\t101\t1\nFurniture and equipment\t11468\t11396\t72\t1\nData processing\t7804\t7988\t(184)\t(2)\nAdvertising and promotion\t3800\t3611\t189\t5\nPennsylvania shares tax\t3246\t3365\t(119)\t(4)\nIntangible amortization\t2792\t2364\t428\t18\nOther professional fees and services\t2755\t2755\t0\t0\nFDIC insurance\t1637\t1164\t473\t41\nOther operating\t18351\t20696\t(2345)\t(11)\nSubtotal\t153405\t150422\t2983\t2\nLoss on sale or write-down of assets\t416\t1398\t(982)\t(70)\nMerger and acquisition related\t0\t3772\t(3772)\t(100)\nCOVID-19 related\t567\t0\t567\t0\nVoluntary early retirement\t3304\t0\t3304\t0\nBranch consolidation\t2544\t0\t2544\t0\nLitigation and operational losses\t1038\t1264\t(226)\t(18)\nTotal noninterest expense\t161274\t156856\t4418\t3%\n", "q10k_tbl_71": "\t2020\t2019\n\t(dollars in thousands)\t\nInterest income per Consolidated Statements of Income\t73593\t82575\nAdjustment to fully taxable equivalent basis\t373\t430\nInterest income adjusted to fully taxable equivalent basis (non-GAAP)\t73966\t83005\nInterest expense\t7224\t14130\nNet interest income adjusted to fully taxable equivalent basis (non-GAAP)\t66742\t68875\n", "q10k_tbl_72": "\t2020\t\t\t2019\t\t\n\tAverage Balance\tIncome / Expense (a)\tYield or Rate\tAverage Balance\tIncome / Expense (a)\tYield or Rate\n\t(dollars in thousands)\t\t\t\t\t\nAssets\t\t\t\t\t\t\nInterest-earning assets:\t\t\t\t\t\t\nInterest-bearing deposits with banks\t343689\t94\t0.11%\t9033\t81\t3.56%\nTax-free investment securities\t45706\t338\t2.94\t65463\t504\t3.05\nTaxable investment securities\t1163857\t5757\t1.97\t1151774\t7382\t2.54\nLoans net of unearned income (b)(c)(e)\t6975402\t67777\t3.87\t6042822\t75038\t4.93\nTotal interest-earning assets\t8528654\t73966\t3.45\t7269092\t83005\t4.53\nNoninterest-earning assets:\t\t\t\t\t\t\nCash\t100751\t\t\t93740\t\t\nAllowance for credit losses\t(83237)\t\t\t(52593)\t\t\nOther assets\t843797\t\t\t739813\t\t\nTotal noninterest-earning assets\t861311\t\t\t780960\t\t\nTotal Assets\t9389965\t\t\t8050052\t\t\nLiabilities and Shareholders' Equity\t\t\t\t\t\t\nInterest-bearing liabilities:\t\t\t\t\t\t\nInterest-bearing demand deposits (d)\t1669157\t234\t0.06%\t1357281\t2092\t0.61%\nSavings deposits (d)\t3149419\t2139\t0.27\t2575810\t3950\t0.61\nTime deposits\t696227\t2248\t1.28\t863714\t3804\t1.75\nShort-term borrowings\t124670\t35\t0.11\t323041\t1620\t1.99\nLong-term debt\t233588\t2568\t4.37\t234497\t2664\t4.51\nTotal interest-bearing liabilities\t5873061\t7224\t0.49\t5354343\t14130\t1.05\nNoninterest-bearing liabilities and shareholders' equity:\t\t\t\t\t\t\nNoninterest-bearing demand deposits (d)\t2281200\t\t\t1560478\t\t\nOther liabilities\t147603\t\t\t101328\t\t\nShareholders' equity\t1088101\t\t\t1033903\t\t\nTotal noninterest-bearing funding sources\t3516904\t\t\t2695709\t\t\nTotal Liabilities and Shareholders' Equity\t9389965\t\t\t8050052\t\t\nNet Interest Income and Net Yield on Interest-Earning Assets\t\t66742\t3.11%\t\t68875\t3.76%\n", "q10k_tbl_73": "\tAnalysis of Year-to-Year Changes in Net Interest Income\t\t\n\tTotal Change\tChange Due To Volume\tChange Due To Rate (a)\n\t(dollars in thousands)\t\t\nInterest-earning assets:\t\t\t\nInterest-bearing deposits with banks\t13\t3003\t(2990)\nTax-free investment securities\t(166)\t(152)\t(14)\nTaxable investment securities\t(1625)\t77\t(1702)\nLoans\t(7261)\t11589\t(18850)\nTotal interest income (b)\t(9039)\t14517\t(23556)\nInterest-bearing liabilities:\t\t\t\nInterest-bearing demand deposits\t(1858)\t480\t(2338)\nSavings deposits\t(1811)\t882\t(2693)\nTime deposits\t(1556)\t(739)\t(817)\nShort-term borrowings\t(1585)\t(995)\t(590)\nLong-term debt\t(96)\t(10)\t(86)\nTotal interest expense\t(6906)\t(382)\t(6524)\nNet interest income\t(2133)\t14899\t(17032)\n", "q10k_tbl_74": "\t2020\t\t2019\t\n\tDollars\tPercentage\tDollars\tPercentage\n\t(dollars in thousands)\t\t\t\nCommercial financial agricultural and other\t3682\t33%\t(17)\t(1)%\nReal estate construction\t270\t3\t(155)\t(6)\nResidential real estate\t(870)\t(8)\t125\t5\nCommercial real estate\t7648\t68\t1037\t38\nLoans to individuals\t482\t4\t1718\t64\nTotal\t11212\t100%\t2708\t100%\n", "q10k_tbl_75": "\t9/30/2020\t9/30/2019\t12/31/2019\n\t(dollars in thousands)\t\t\nBalance beginning of period\t81441\t51061\t47764\nLoans charged off:\t\t\t\nCommercial financial agricultural and other\t3395\t791\t3393\nReal estate construction\t0\t0\t0\nResidential real estate\t283\t383\t1042\nCommercial real estate\t0\t1382\t2008\nLoans to individuals\t1229\t1574\t5831\nTotal loans charged off\t4907\t4130\t12274\nRecoveries of loans previously charged off:\t\t\t\nCommercial financial agricultural and other\t57\t62\t326\nReal estate construction\t0\t74\t158\nResidential real estate\t166\t17\t315\nCommercial real estate\t110\t81\t189\nLoans to individuals\t228\t162\t626\nTotal recoveries\t561\t396\t1614\nNet credit losses\t4346\t3734\t10660\nProvision charged to expense\t11212\t2708\t14533\nBalance end of period\t88307\t50035\t51637\n", "q10k_tbl_76": "\t2020\t2019\t Change\t% Change\n\t(dollars in thousands)\t\t\t\nNoninterest Income:\t\t\t\t\nTrust income\t2554\t2325\t229\t10%\nService charges on deposit accounts\t4035\t4954\t(919)\t(19)\nInsurance and retail brokerage commissions\t2156\t1912\t244\t13\nIncome from bank owned life insurance\t1547\t1540\t7\t0\nCard-related interchange income\t6441\t5629\t812\t14\nSwap fee income\t41\t421\t(380)\t(90)\nOther income\t1827\t1865\t(38)\t(2)\nSubtotal\t18601\t18646\t(45)\t0\nNet securities gains\t20\t9\t11\t122\nGain on sale of mortgage loans\t6437\t2599\t3838\t148\nGain on sale of other loans and assets\t1871\t970\t901\t93\nDerivatives mark to market\t(160)\t(45)\t(115)\t256\nTotal noninterest income\t26769\t22179\t4590\t21%\n", "q10k_tbl_77": "\t2020\t2019\t Change\t% Change\n\t(dollars in thousands)\t\t\t\nNoninterest Expense:\t\t\t\t\nSalaries and employee benefits\t28823\t28674\t149\t1%\nNet occupancy\t4609\t4521\t88\t2\nFurniture and equipment\t4033\t3904\t129\t3\nData processing\t2741\t2825\t(84)\t(3)\nAdvertising and promotion\t1115\t1140\t(25)\t(2)\nPennsylvania shares tax\t1254\t1189\t65\t5\nIntangible amortization\t939\t865\t74\t9\nOther professional fees and services\t937\t969\t(32)\t(3)\nFDIC insurance\t876\t35\t841\t2403\nOther operating\t6555\t6577\t(22)\t0\nSubtotal\t51882\t50699\t1183\t2\nLoss on sale or write-down of assets\t63\t152\t(89)\t(59)\nMerger and acquisition related\t0\t3738\t(3738)\t(100)\nCOVID-19 related\t125\t0\t125\t0\nVoluntary early retirement\t3304\t0\t3304\t0\nBranch consolidation\t2544\t0\t2544\t0\nLitigation and operational losses\t329\t308\t21\t7\nTotal noninterest expense\t58247\t54897\t3350\t6%\n", "q10k_tbl_78": "\tSeptember 30 2020\tDecember 31 2019\n\t(dollars in thousands)\t\nNoninterest-bearing demand deposits(a)\t2301821\t1690247\nInterest-bearing demand deposits(a)\t315806\t254981\nSavings deposits(a)\t4425119\t3896536\nTime deposits\t661161\t835851\nTotal\t7703907\t6677615\n", "q10k_tbl_79": "\tSeptember 30 2020\t\t\t\t\t\n\t0-90 Days\t91-180 Days\t181-365 Days\tCumulative 0-365 Days\tOver 1 Year Through 5 Years\tOver 5 Years\n\t(dollars in thousands)\t\t\t\t\t\nLoans\t600799\t549600\t951753\t2102152\t3700971\t1095176\nInvestments\t217878\t95452\t166510\t479840\t531602\t128234\nOther interest-earning assets\t283037\t0\t0\t283037\t0\t0\nTotal interest-sensitive assets (ISA)\t1101714\t645052\t1118263\t2865029\t4232573\t1223410\nCertificates of deposit\t204060\t141316\t172511\t517887\t140922\t2086\nOther deposits\t4740926\t0\t0\t4740926\t0\t0\nBorrowings\t194627\t104\t50208\t244939\t1665\t104344\nTotal interest-sensitive liabilities (ISL)\t5139613\t141420\t222719\t5503752\t142587\t106430\nGap\t(4037899)\t503632\t895544\t(2638723)\t4089986\t1116980\nISA/ISL\t0.21\t4.56\t5.02\t0.52\t29.68\t11.49\nGap/Total assets\t43.47%\t5.42%\t9.64%\t28.41%\t44.03%\t12.02%\n", "q10k_tbl_80": "\tDecember 31 2019\t\t\t\t\t\n\t0-90 Days\t91-180 Days\t181-365 Days\tCumulative 0-365 Days\tOver 1 Year Through 5 Years\tOver 5 Years\n\t(dollars in thousands)\t\t\t\t\t\nLoans\t2818183\t313651\t494467\t3626301\t2052952\t475962\nInvestments\t103225\t79866\t162225\t345316\t633178\t235437\nOther interest-earning assets\t19510\t0\t0\t19510\t0\t0\nTotal interest-sensitive assets (ISA)\t2940918\t393517\t656692\t3991127\t2686130\t711399\nCertificates of deposit\t121302\t161488\t303245\t586035\t246512\t2822\nOther deposits\t4151518\t0\t0\t4151518\t0\t0\nBorrowings\t274213\t193\t385\t274791\t103082\t53064\nTotal interest-sensitive liabilities (ISL)\t4547033\t161681\t303630\t5012344\t349594\t55886\nGap\t(1606115)\t231836\t353062\t(1021217)\t2336536\t655513\nISA/ISL\t0.65\t2.43\t2.16\t0.80\t7.68\t12.73\nGap/Total assets\t19.33%\t2.79%\t4.25%\t12.29%\t28.12%\t7.89%\n", "q10k_tbl_81": "\tNet interest income change (12 months) for basis point movements of:\t\t\t\n\t-200\t-100\t+100\t+200\n\t(dollars in thousands)\t\t\t\nSeptember 30 2020 ($)\t(6033)\t(3754)\t2987\t5509\nSeptember 30 2020 (%)\t(2.18)%\t(1.35)%\t1.08%\t1.99%\nDecember 31 2019 ($)\t(12540)\t(5880)\t4279\t8032\nDecember 31 2019 (%)\t(4.52)%\t(2.12)%\t1.54%\t2.90%\n", "q10k_tbl_82": "\tNet interest income change (12 months) for basis point movements of:\t\t\t\n\t-200\t-100\t+100\t+200\n\t(dollars in thousands)\t\t\t\nSeptember 30 2020 ($)\t(16081)\t(11456)\t9659\t17680\nSeptember 30 2020 (%)\t(5.80)%\t(4.13)%\t3.48%\t6.37%\nDecember 31 2019 ($)\t(41661)\t(21604)\t12259\t22291\nDecember 31 2019 (%)\t(15.02)%\t(7.79)%\t4.42%\t8.04%\n", "q10k_tbl_83": "\tSeptember 30\t\t\t\tDecember 31 2019\t\n\t2020\t\t2019\t\n\t(dollars in thousands)\t\t\t\t\t\nNonperforming Loans:\t\t\t\t\t\t\nLoans on nonaccrual basis\t38139\t\t16227\t\t18638\t\nLoans held for sale on a nonaccrual basis\t0\t\t0\t\t0\t\nTroubled debt restructured loans on nonaccrual basis\t4511\t\t11074\t\t6037\t\nTroubled debt restructured loans on accrual basis\t7078\t\t8024\t\t7542\t\nTotal nonperforming loans\t49728\t\t35325\t\t32217\t\nLoans past due 30 to 90 days and still accruing\t10259\t\t12387\t\t11378\t\nLoans past due in excess of 90 days and still accruing\t1249\t\t2054\t\t2073\t\nOther real estate owned\t1079\t\t1622\t\t2228\t\nLoans held for sale at end of period\t37998\t\t20288\t\t15989\t\nPortfolio loans outstanding at end of period\t6949716\t\t6099561\t\t6189148\t\nAverage loans outstanding\t6670819\t(a)\t5935427\t(a)\t5987398\t(b)\nNonperforming loans as a percentage of total loans\t0.71%\t\t0.58%\t\t0.52%\t\nProvision for credit losses\t49038\t(a)\t9638\t(a)\t14533\t(b)\nAllowance for credit losses\t88307\t\t50035\t\t51637\t\nNet charge-offs\t12368\t(a)\t7367\t(a)\t10660\t(b)\nNet charge-offs as a percentage of average loans outstanding (annualized)\t0.25%\t\t0.17%\t\t0.18%\t\nProvision for credit losses as a percentage of net charge-offs\t396.49%\t(a)\t130.83%\t(a)\t136.33%\t(b)\nAllowance for credit losses as a percentage of end-of-period loans outstanding (c)\t1.27%\t\t0.82%\t\t0.83%\t\nAllowance for credit losses as a percentage of end-of-period loans outstanding excluding PPP loans (c)\t1.38%\t\t0.82%\t\t0.83%\t\nAllowance for credit losses on originated loans as a percentage of end-of-period originated loans outstanding\t1.31%\t\t0.90%\t\t0.90%\t\nAllowance for credit losses on originated loans as a percentage of end-of-period originated loans outstanding excluding PPP loans\t1.44%\t\t0.90%\t\t0.90%\t\nAllowance for credit losses as a percentage of nonperforming loans (d)\t177.58%\t\t141.64%\t\t160.28%\t\n", "q10k_tbl_84": "\tSeptember 30 2020\t\tDecember 31 2019\t\n\tAmount\t%\tAmount\t%\n\t(dollars in thousands)\t\t\t\nCommercial financial agricultural and other\t1736736\t25%\t1241853\t20%\nReal estate construction\t452989\t7\t449039\t7\nResidential real estate\t1744020\t25\t1681362\t27\nCommercial real estate\t2215311\t32\t2117519\t34\nLoans to individuals\t800660\t11\t699375\t12\nTotal loans and leases net of unearned income\t6949716\t100%\t6189148\t100%\n", "q10k_tbl_85": "\tFor the Nine Months Ended September 30 2020\t\t\tAs of September 30 2020\t\t\n\tNet Charge- offs\t% of Total Net Charge-offs\tNet Charge- offs as a % of Average Loans (annualized)\tNonperforming Loans\t% of Total Nonperforming Loans\tNonperforming Loans as a % of Total Loans\n\t(dollars in thousands)\t\t\t\t\t\nCommercial financial agricultural and other\t4977\t40.24%\t0.10%\t5619\t11.30%\t0.08%\nReal estate construction\t(26)\t(0.21)\t0\t362\t0.73\t0.01\nResidential real estate\t621\t5.02\t0.01\t11391\t22.91\t0.16\nCommercial real estate\t2263\t18.30\t0.05\t31850\t64.04\t0.45\nLoans to individuals\t4533\t36.65\t0.09\t506\t1.02\t0.01\nTotal loans net of unearned income\t12368\t100.00%\t0.25%\t49728\t100.00%\t0.71%\n", "q10k_tbl_86": "\tActual\t\tMinimum Capital Required\t\tRequired to be Considered Well Capitalized\t\n\tCapital Amount\tRatio\t\tCapital Amount\tRatio\tCapital Amount\t\t\t\tRatio\t\t\n\t(dollars in thousands)\t\t\t\t\nTotal Capital to Risk Weighted Assets\t\t\t\t\t\t\t\t\t\t\t\t\nFirst Commonwealth Financial Corporation\t992342\t14.44%\t\t721538\t10.50%\t687179\t\t\t\t10.00%\t\t\nFirst Commonwealth Bank\t967486\t14.11\t\t719943\t10.50\t685660\t\t\t\t10.00\t\t\nTier I Capital to Risk Weighted Assets\t\t\t\t\t\t\t\t\t\t\t\t\nFirst Commonwealth Financial Corporation\t807968\t11.76%\t\t584102\t8.50%\t549744\t\t\t\t8.00%\t\t\nFirst Commonwealth Bank\t783300\t11.42\t\t582811\t8.50\t548528\t\t\t\t8.00\t\t\nTier I Capital to Average Assets\t\t\t\t\t\t\t\t\t\t\t\t\nFirst Commonwealth Financial Corporation\t807968\t8.94%\t\t361699\t4.00%\t452124\t\t\t\t5.00%\t\t\nFirst Commonwealth Bank\t783300\t8.68\t\t360923\t4.00\t451154\t\t\t\t5.00\t\t\nCommon Equity Tier I to Risk Weighted Assets\t\t\t\t\t\t\t\t\t\t\t\t\nFirst Commonwealth Financial Corporation\t737968\t10.74%\t\t481026\t7.00%\t446667\t\t\t\t6.50%\t\t\nFirst Commonwealth Bank\t783300\t11.42\t\t479962\t7.00\t445679\t\t\t\t6.50\t\t\n", "q10k_tbl_87": "Month Ending:\tTotal Number of Shares Purchased\tAverage Price Paid per Share (or Unit)\tTotal Number of Shares Purchased as Part of Publicly Announced Plans or Programs\tMaximum Number of Shares that May Yet Be Purchased Under the Plans or Programs*\nJuly 31 2020\t0\t0\t0\t1985972\nAugust 31 2020\t0\t0\t0\t1906048\nSeptember 30 2020\t1207916\t7.58\t1207916\t836734\nTotal\t1207916\t7.58\t1207916\t\n* Remaining number of shares approved under the Plan is based on the market value of the Company's common stock of $7.87 at July 31 2020 $8.20 at August 31 2020 and $7.74 at September 30 2020.\t\t\t\t\n", "q10k_tbl_88": "Exhibit Number\tDescription\tIncorporated by Reference to\n31.1\tChief Executive Officer Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002\tFiled herewith\n31.2\tChief Financial Officer Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002\tFiled herewith\n32.1\tChief Executive Officer Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002\tFiled herewith\n32.2\tChief Financial Officer Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002\tFiled herewith\n101\tThe following materials from First Commonwealth Financial Corporation's Quarterly Report on Form 10-Q formatted in XBRL (Extensible Business Reporting Language): (i) the Consolidated Balance Sheets (ii) the Consolidated Statements of Income and Comprehensive Income (iii) the Consolidated Statements of Changes in Stockholders' Equity (iv) the Consolidated Statements of Cash Flows and (v) the Notes to Unaudited Consolidated Financial Statements. Note that XBRL tags are embedded within the document.\tFiled herewith\n"}{"bs": "q10k_tbl_1", "is": "q10k_tbl_2", "cf": "q10k_tbl_8"}None
Item 1. Financial Statements and Supplementary Data
Note 1 Basis of Presentation
Note 2 Acquisition
Item 1. Financial Statements and Supplementary Data
Note 3 Supplemental Comprehensive Income Disclosures
Note 4 Supplemental Cash Flow Disclosures
Note 5 Earnings per Share
Item 1. Financial Statements and Supplementary Data
Note 6 Commitments and Contingent Liabilities
Note 7 Investment Securities
Item 1. Financial Statements and Supplementary Data
Note 8 Loans and Allowance for Credit Losses
Note 9 Leases
Item 1. Financial Statements and Supplementary Data
Note 10 Income Taxes
Note 11 Fair Values of Assets and Liabilities
Item 1. Financial Statements and Supplementary Data
Note 12 Derivatives
Note 13 Goodwill
Item 1. Financial Statements and Supplementary Data
Note 14 Subordinated Debentures
Note 15 Revenue Recognition
Item 1. Financial Statements and Supplementary Data
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II - Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Part II - Other Information
Item 6. Exhibits
Exhibits
EX-31.1
fcf-ex31120200930x10q.htm
EX-31.2
fcf-ex31220200930x10q.htm
EX-32.1
fcf-ex32120200930x10q.htm
EX-32.2
fcf-ex32220200930x10q.htm
First Commonwealth Financial Earnings 2020-09-30
Balance Sheet
Income Statement
Cash Flow
fcf-20200930
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
ý
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2020
Or
☐
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission File Number 001-11138
First Commonwealth Financial Corporation
(Exact name of registrant as specified in its charter)
Pennsylvania
25-1428528
(State or other jurisdiction of
(I.R.S. Employer
incorporation or organization)
Identification No.)
601 Philadelphia Street
Indiana
PA
15701
(Address of principal executive offices)
(Zip Code)
724-349-7220
(Registrant’s telephone number, including area code)
N/A
(Former name, former address and former fiscal year, if changed since last report)
Indicate by a check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yesx No ¨.
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yesx No ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
Large accelerated filerx Accelerated filer ¨ Smaller reporting company ☐Emerging growth company ☐
Non-accelerated filer ¨ (Do not check if a smaller reporting company)
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No x
The number of shares outstanding of issuer’s common stock, $1.00 par value, as of November 5, 2020, was 96,132,751.
ITEM 1. Financial Statements and Supplementary Data
FIRST COMMONWEALTH FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (unaudited)
September 30, 2020
December 31, 2019
(dollars in thousands, except share data)
Assets
Cash and due from banks
$
97,060
$
102,346
Interest-bearing bank deposits
283,037
19,510
Securities available for sale, at fair value
908,236
902,292
Securities held to maturity, at amortized cost (Fair value of $276,988 and $338,718 at September 30, 2020 and December 31,2019, respectively)
268,638
337,123
Other investments
12,966
16,761
Loans held for sale
37,998
15,989
Loans:
Portfolio loans
6,949,716
6,189,148
Allowance for credit losses
(88,307)
(51,637)
Net loans
6,861,409
6,137,511
Premises and equipment, net(1)
128,041
137,268
Other real estate owned
1,079
2,228
Goodwill
303,328
303,328
Amortizing intangibles, net
14,095
16,366
Bank owned life insurance
224,660
220,723
Other assets
148,819
97,328
Total assets
$
9,289,366
$
8,308,773
Liabilities
Deposits (all domestic):
Noninterest-bearing
$
2,301,821
$
1,690,247
Interest-bearing
5,402,086
4,987,368
Total deposits
7,703,907
6,677,615
Short-term borrowings
122,356
201,853
Subordinated debentures
170,572
170,450
Other long-term debt
56,424
56,917
Capital lease obligation
6,494
6,815
Total long-term debt
233,490
234,182
Other liabilities
156,782
139,458
Total liabilities
8,216,535
7,253,108
Shareholders’ Equity
Preferred stock, $1 par value per share, 3,000,000 shares authorized, none issued
—
—
Common stock, $1 par value per share, 200,000,000 shares authorized; 113,914,902 shares issued at September 30, 2020 and December 31, 2019, and 96,924,781 and 98,311,840 shares outstanding at September 30, 2020 and December 31, 2019, respectively
113,915
113,915
Additional paid-in capital
494,682
493,737
Retained earnings
592,704
577,348
Accumulated other comprehensive income, net
19,111
5,579
Treasury stock (16,990,121 and 15,603,062 shares at September 30, 2020 and December 31, 2019, respectively)
(147,581)
(134,914)
Total shareholders’ equity
1,072,831
1,055,665
Total liabilities and shareholders’ equity
$
9,289,366
$
8,308,773
(1)September 30, 2020 balance includes $2.6 million in available for sale assets as a result of the branch consolidation initiative.
The accompanying notes are an integral part of these unaudited consolidated financial statements.