FIRST COMMONWEALTH FINANCIAL CORP /PA/ FCF Income Statement

First commonwealth financial corp /pa/ (FCF)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Interest Income
Interest and fees on loans
291,889	257,316	218,530	185,344	172,819	171,196	176,129	187,258	197,456	225,062	232,030
Interest and dividends on investments:
Taxable interest
29,773	31,264	28,608	27,919	26,807	28,767	29,916	31,695	33,763	37,915	50,591
Interest exempt from federal income taxes
1,591	1,646	1,622	1,498	997	311	4	12	213	5,216	10,445
Dividends
1,608	1,859	1,669	2,826	3,434	1,895	302	104	49	73	208
Interest on bank deposits
403	172	121	27	14	12	7	6	64	94	7
Total interest income
325,264	292,257	250,550	217,614	204,071	202,181	206,358	219,075	231,545	268,360	293,281
Interest Expense
Interest on deposits
36,725	21,713	9,415	7,523	7,474	12,453	15,596	21,454	33,496	49,845	69,802
Interest on short-term borrowings
8,298	10,741	8,799	8,076	5,018	2,449	1,262	1,070	728	1,948	4,216
Interest on subordinated debentures
9,084	6,987	3,000	2,635	2,329	2,292	3,128	5,684	5,568	5,593	6,170
Interest on other long-term debt
1,016	300	323	345	774	1,307	1,721	1,938	1,886	4,213	6,583
Interest on lease obligations
279	294	233	0	0	-	-	-	-	-	-
Total interest on long-term debt
-	-	-	-	-	-	-	-	-	9,806	12,753
Total interest expense
55,402	40,035	21,770	18,579	15,595	18,501	21,707	30,146	41,678	61,599	86,771
Net Interest Income
269,862	252,222	228,780	199,035	188,476	183,680	184,651	188,929	189,867	206,761	206,510
Provision for credit losses
14,533	12,531	5,087	18,480	14,948	11,196	19,227	20,544	55,816	-61,552	100,569
Net Interest Income after Provision for Credit Losses
255,329	239,691	223,693	180,555	173,528	172,484	165,424	168,385	134,051	145,209	105,941
Noninterest Income
Net securities gains
22	8,102	5,040	617	-153	550	-1,158	192	2,185	2,422	273
Trust income
8,321	7,901	7,098	5,366	5,834	6,000	6,166	6,206	6,498	5,897	4,805
Service charges on deposit accounts
18,926	18,175	18,579	15,869	15,319	15,661	15,652	14,743	14,775	16,968	17,440
Changes in fair value on impaired securities
-	-	-	-	-	-	-	-	425	2,560	-72,574
Noncredit related (gains) losses on securities not expected to be sold (recognized in other comprehensive income)
-	-	-	-	-	-	-	-	-425	6,633	-36,389
Net impairment losses
-	-	-	-	-	-	-	-	0	9,193	36,185
Insurance and retail brokerage commissions
7,583	7,426	8,807	7,964	8,522	6,483	6,005	6,272	6,376	6,369	7,259
Income from bank owned life insurance
6,002	6,686	5,699	5,381	5,412	5,502	5,539	5,850	5,596	5,331	4,442
Gain on sale of mortgage loans
7,765	5,436	5,366	4,086	2,421	440	624	-	-	-	-
Income from other real estate owned
-	-	-	-	-	-	-	-	-	-	0
Gain on sale of other loans and assets
4,793	5,273	1,753	1,411	-	-	1,529	4,607	4,155	824	793
Card-related interchange income
21,677	20,187	18,780	14,955	14,501	14,222	13,746	13,199	11,968	10,459	8,559
Derivatives mark to market
-269	787	-473	219	-274	-345	-	-	-6,687	141	-661
Swap fee income
3,397	1,874	2,005	2,359	847	511	-	-	-	-	-
Other income
7,268	6,790	7,677	6,372	7,041	7,279	12,060	14,365	12,803	10,016	12,600
Total noninterest income
85,485	88,637	80,331	64,599	61,325	60,859	60,163	65,434	57,669	49,234	19,325
Noninterest Expense
Salaries and employee benefits
112,237	105,115	103,714	87,125	89,161	87,223	86,012	86,069	84,669	84,988	86,059
Net occupancy expense
18,923	17,219	15,648	13,150	13,712	13,119	13,607	13,255	14,069	14,271	14,053
Furniture and equipment expense
15,160	14,247	13,508	11,624	10,737	17,812	15,118	12,460	12,517	12,568	12,085
Data processing expense
10,692	10,470	9,090	7,429	6,123	6,124	6,009	7,054	6,027	5,671	4,687
Advertising and promotion
4,250	3,956	3,786	2,601	2,638	2,953	3,129	4,157	-	-	-
Contributions
-	-	-	-	-	-	-	1,195	-	-	-
Pennsylvania shares tax
4,602	4,875	4,209	3,825	4,693	3,776	5,638	5,706	5,480	5,455	5,314
Intangible amortization
3,344	3,217	3,081	547	605	631	1,064	1,467	1,534	2,031	2,826
Collection and repossession expense
2,204	2,762	1,905	2,250	2,826	2,754	3,836	5,756	7,583	4,430	5,010
Other professional fees and services
4,631	4,473	4,761	3,915	4,034	3,986	3,731	4,329	5,297	4,131	3,429
FDIC insurance
1,219	2,007	3,210	3,903	4,014	4,054	4,366	5,032	5,490	7,948	10,471
Loss on sale or write-down of assets
1,724	1,080	1,834	1,155	-3,112	-1,595	-1,054	-7,394	-9,428	-2,715	-302
Loss on sale or write-down of assets
-	-	-	-	1,855	4,556	-	-	-	-	-
Litigation and operational losses
1,687	1,162	2,050	1,420	2,119	6,786	1,115	4,367	779	581	-
Merger and acquisition related
-	-	-	-	-	1,788	2,588	0	0	-	-
Loss on early redemption of subordinated debt
-	-	-	-	-	-	-1,629	0	0	-	-
Merger and acquisition related
3,536	1,637	10,213	3,173	922	0	0	-	-	-	-
Loan processing fees
-	-	-	-	-	-	-	-	-	-	2,120
Other Noninterest Expense
25,756	23,336	23,289	17,808	19,178	18,609	19,928	18,966	23,953	26,437	24,795
Total noninterest expense
209,965	195,556	200,298	159,925	163,874	171,210	168,824	177,207	176,826	171,226	171,151
Income Before Income Taxes
130,849	132,772	103,726	85,229	70,979	62,133	56,763	56,612	14,894	23,217	-45,885
Income tax provision
25,516	25,274	48,561	25,639	20,836	17,680	15,281	14,658	-380	239	-25,821
Net Income
105,333	107,498	55,165	59,590	50,143	44,453	41,482	41,954	15,274	22,978	-20,064
Average Shares Outstanding (in shares)
98,317	99,036	95,220	88,851	89,356	93,114	97,028	103,885	104,700	93,197	84,589
Average Shares Outstanding Assuming Dilution (in shares)
98,588	99,223	95,331	88,851	89,356	93,114	97,029	103,885	104,700	93,199	84,589
Per Share Data:
Basic Earnings per Share (in dollars per share)
1.07	1.09	0.58	0.67	0.56	0.48	0.43	0.40	0.15	0.25	-0.24
Diluted Earnings per Share (in dollars per share)
1.07	1.08	0.58	0.67	0.56	0.48	0.43	0.40	0.15	0.25	-0.24
Cash Dividends Declared per Common Share (in dollars per share)
0.40	0.35	0.32	0.28	0.28	0.28	0.23	0.18	0.12	0.06	0.18