First Commonwealth Financial (FCF) Investor presentation summary

Franchise overview

• Operates 126 retail branches in Pennsylvania and Ohio, active in five major metro markets with $12.3B in assets, $9.5B in loans, and $10.4B in deposits as of March 31, 2026.

• Market capitalization reached $2.0B as of May 14, 2026.

Investment thesis and strategy

• Focuses on digital enablement, profitable growth, and disciplined capital deployment, including M&A and share repurchases.

• Maintains a diversified, resilient franchise with a high mix of core deposits and balanced loan portfolio.

• Demonstrates strong governance, risk culture, and capital strength (12.5% CET1).

Financial and operational performance

• Core EPS for 1Q26 was $0.37, down $0.06 from prior quarter but up $0.05 YoY; net interest margin at 3.92%.

• Average deposits grew 2.7% annualized from prior quarter; total loans decreased 3.2% annualized.

• Operating expense increased $1.3M from prior quarter; fee income rose $0.1M.

• Tangible book value per share increased 4.3% annualized from prior quarter.