First Commonwealth Q1 net income $37.5M, EPS $0.37; dividend raised to $0.13

FIRST COMMONWEALTH FINANCIAL CORP /PA/

2024-Q1 EPS reported $0.37

Net income $37.5M, up 24% from $30.2M in Q1 2023; diluted EPS $0.37 vs $0.30.
Core diluted EPS $0.37, down from $0.45 in Q1 2023 due to higher provision.
Quarterly dividend increased to $0.13 per share (payable May 17, 2024 to holders of record May 6).
Net interest margin (FTE) 3.52%, down from 4.01% a year ago; provision expense $4.2M.
Net charge-offs $4.3M vs $1.2M in Q1 2023; reserve build of $1.4M.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FIRST COMMONWEALTH FINANCIAL CORP /PA/ reported the three month period ended March 31, 2024 results: net income Net income $ 37,549, EPS Diluted earnings per share $ 0.37.

Period: the three month period ended March 31, 2024
Net income: Net income $ 37,549
EPS: Diluted earnings per share $ 0.37
Result: reported results

Exact text from the filing

On April 23, 2024, First Commonwealth Financial Corporation (the “Company”) issued a press release announcing financial results for the three month period ended March 31, 2024.

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Source: SEC EDGAR

accession 0000712537-24-000073

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