secwatch.observer — SEC 8-K summary
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Issuer:     FIRST COMMONWEALTH FINANCIAL CORP /PA/ (FCF)
CIK:        0000712537
Form:       8-K
Filed at:   2023-01-20T23:59:59+00:00
Accession:  0000712537-23-000002
Event type: litigation
Sentiment:  negative
Materiality: 0.70
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

FCF shareholder lawsuit alleges proxy deficiencies for Centric merger; supplemental disclosures filed
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- Lawsuit filed Jan 17, 2023 in PA by Charles Reinhardt against Centric Directors alleging proxy statement deficiencies.
- FCF and Centric deny merit but voluntarily supplement proxy with additional DCF and financial projections.
- Supplemental DCF shows terminal value $221.5M at 10.0x multiple; NPV per share range $11.32-$16.18.
- Cost savings 35% phased in 2023-2024, $14.6M pre-tax one-time charges, pro forma Tier 1 Leverage 9.8%, CET1 11.2%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/712537/000071253723000002/0000712537-23-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/712537/000071253723000002/fcf-20230120.htm
  HTML page:      https://secwatch.observer/filing/0000712537-23-000002

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