First Commonwealth acquires Centric Financial in all-stock deal valued at ~$144M

FIRST COMMONWEALTH FINANCIAL CORP /PA/

All-stock merger valued at ~$144M (~$16.20/share); Centric holders get 1.09 FCF shares.
Expected Q1 2023 close; 2023 EPS accretion ~5%, 2024 ~7%; TBV dilution ~3%, earnback ~2 years.
Centric contributes ~$1B assets, $0.9B deposits, $0.9B loans; combined assets ~$10.6B.
Patti Husic, Centric CEO, to join FCF Board of Directors post-close.
Transaction unanimously approved by both boards; requires Centric shareholder and regulatory approvals.

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