First Commonwealth Financial (FCF) investor relations material

Executive summary

• Core EPS rose to $0.44, up $0.07 from Q1 and $0.12 year-over-year, with core ROA at 1.46% and pre-tax, pre-provision ROA at 2.14%.

• Net income for Q2 2026 was $44.6 million, up $7.0 million from the prior quarter and $11.2 million year-over-year; net income for the first half of 2026 was $82.1 million, up 24% year-over-year.

• Net interest margin improved to 4.01%, up 9 basis points sequentially and 19 basis points year-over-year.

• Loan and deposit growth annualized at about 2%, with commercial loan payoffs at a record $740M and originations at $693M.

• Credit quality improved modestly, with nonperforming loans as a percent of total loans down to 0.86% and stable delinquency.

Financial highlights

• Net interest income (FTE) was $112.8 million for Q2, up $3.5 million sequentially and $6.2 million year-over-year; for the first half, it was $221.4 million.

• Fee income increased by $2.3 million sequentially, including $806K from sub-debt redemption and $450K BOLI death claim.

• Noninterest expense decreased by $1.3 million sequentially, aided by lower snow removal and FHLB prepayment penalty costs.

• Tangible book value per share rose to $11.58 from $11.34 last quarter and $10.63 a year ago.

• Net charge-offs for Q2 were $11.4 million, up $3.3 million from Q1; for the first half, $19.6 million, up from $5.9 million year-over-year.

Outlook and guidance

• Net loan growth expected to pick up in H2 2026 as payoffs normalize, targeting mid-single-digit growth.

• NIM projected to remain in the low 4% range, with deposit competition intensifying.

• Fee income guidance unchanged at $24–$25M per quarter; expense guidance steady at $74–$76M per quarter.

• Management expects continued focus on credit quality and disciplined expense management amid evolving economic conditions.

• Share repurchases to continue, with $75M new authorization approved.