First Commonwealth Q1 net income $27.7M ($0.29 EPS); dividend raised to $0.12

FIRST COMMONWEALTH FINANCIAL CORP /PA/

2022-Q1 EPS reported $0.29

Net income of $27.7M ($0.29 diluted EPS) vs $39.8M ($0.41) a year ago; core EPS $0.29.
Net interest margin (FTE) 3.19%, down from 3.40% in Q1 2021; provision expense $1.96M vs negative provision of $4.39M.
Quarterly cash dividend increased to $0.12 per share from prior $0.105 (implied 14% increase).
Core efficiency ratio worsened to 59.47% from 53.18% a year ago; core pre-tax pre-provision revenue $36.5M vs $45.0M.

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