First Commonwealth Announces Third Quarter 2026 Earnings; Declares Quarterly Dividend and Announces Additional Share Repurchase Authorization
First Commonwealth reported Q3 2026 GAAP net income of $44.9 million, or $0.45 per diluted share, up from $0.44 last quarter and $0.39 a year ago. Net interest margin expanded 10 basis points to 4.11% and core ROATCE rose to 15.90%, but provision expense jumped to $14.2 million on reserve builds tied to two commercial credits moved to nonaccrual, lifting nonperforming loans 13.6 million to $95.2 million. The board declared a $0.14 quarterly dividend (up 3.7% YoY, ~2.6% yield) and authorized an additional $25 million share repurchase program.
Key figures
- Eps
- 0.45
- Revenue
- $116.7 million net interest income (FTE) plus $26.7 million noninterest income
- Revenue Yoy
- NII (FTE) up $5.3 million YoY; noninterest income up $2.2 million YoY
- Core eps
- 0.45
- Core roaa
- 1.48%
- Nco ratio
- 0.19%
- Npl ratio
- 0.99%
- Cet1 ratio
- 11.9%
- Core pppnr
- 65495000
- Net income
- 44943000
- Core roatce
- 15.90%
- Core net income
- 45442000
- Net charge offs
- 4581000
- Dividend increase
- 3.7%
- Provision expense
- 14188000
- Allowance to loans
- 1.40%
- Avg deposit change
- -$87.1 million (-3.3% annualized)
- Dividend per share
- 0.14
- Net interest margin
- 4.11%
- Nonperforming loans
- 95200000
- Avg repurchase price
- 21.18
- Loan to deposit ratio
- 93.2%
- Shares repurchased q3
- 4156764
- Projected dividend yield
- 2.6%
- New buyback authorization
- 25000000
AI analysis
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