XML 57 R61.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Financial Information of First Commonwealth Financial Corporation (parent company only) (Tables)
 12 Months Ended
Dec. 31, 2013
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Statements of Financial Condition
Statements of Financial Condition
December 31,
 
2013
 
2012
 
(dollars in thousands)
Assets
 
 
 
Cash
$
8,370

 
$
19,493

Loans
27

 
30

Investment in subsidiaries
696,438

 
736,165

Investment in unconsolidated subsidiary trusts
2,182

 
3,291

Investment in jointly-owned company
8,559

 
8,347

Premises and equipment, net
6,376

 
9,347

Receivable from subsidiaries
267

 
1,583

Dividends receivable from subsidiaries
1,319

 
1,205

Other assets
62,633

 
76,715

Total assets
$
786,171

 
$
856,176

Liabilities and Shareholders’ Equity
 
 
 
Accrued expenses and other liabilities
$
2,307

 
$
4,419

Subordinated debentures payable
72,167

 
105,750

Shareholders’ equity
711,697

 
746,007

Total liabilities and shareholders’ equity
$
786,171

 
$
856,176
Statements of Operations
Statements of Income
For the years ended December 31,
 
2013
 
2012
 
2011
 
(dollars in thousands)
Interest and dividends
$
1

 
$
1

 
$
1

Dividends from subsidiaries
65,140

 
64,342

 
10,321

Interest expense
(3,128
)
 
(5,711
)
 
(5,605
)
Other income
2,653

 
12,581

 
30,595

Operating expense
(8,820
)
 
(19,061
)
 
(44,057
)
Income (loss) before taxes and equity in undistributed (loss) earnings of subsidiaries
55,846

 
52,152

 
(8,745
)
Applicable income tax benefits
3,384

 
4,364

 
6,618

Income (loss) before equity in undistributed (loss) earnings of subsidiaries
59,230

 
56,516

 
(2,127
)
Equity in undistributed (loss) earnings of subsidiaries
(17,748
)
 
(14,562
)
 
17,401

Net income
$
41,482

 
$
41,954

 
$
15,274
Statements of Cash Flow
 
For the years ended December 31,
Statements of Cash Flow
2013
 
2012
 
2011
 
(dollars in thousands)
Operating Activities
 
 
 
 
 
Net income
$
41,482

 
$
41,954

 
$
15,274

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
 
 
Depreciation and amortization
3,030

 
3,719

 
3,730

Net gain (loss) on sales of assets
17

 
(107
)
 
(1,069
)
Decrease (increase) in prepaid income taxes
3,044

 
(3,044
)
 
—

Undistributed equity in subsidiaries
17,748

 
14,562

 
(17,401
)
Other net
12,964

 
8,789

 
1,649

Net cash provided by operating activities
78,285

 
65,873

 
2,183

Investing Activities
 
 
 
 
 
Net change in loans
4

 
4

 
5

Purchases of premises and equipment
(123
)
 
(3,005
)
 
(5,736
)
Proceeds from sale of other assets
1,132

 
4,309

 
1,461

Net cash provided by (used in) investing activities
1,013

 
1,308

 
(4,270
)
Financing Activities
 
 
 
 
 
Repayments of subordinated debenture
(34,702
)
 
—

 
—

Proceeds from issuance of common stock
—

 
—

 
144

Discount on dividend reinvestment plan purchases
(112
)
 
(92
)
 
(63
)
Dividends paid
(22,344
)
 
(18,759
)
 
(12,558
)
Proceeds from reissuance of treasury stock
176

 
1,028

 
72

Purchase of treasury stock
(33,439
)
 
(36,242
)
 
(9
)
Stock option tax benefit
—

 
1

 
6

Net cash used in financing activities
(90,421
)
 
(54,064
)
 
(12,408
)
Net (decrease) increase in cash
(11,123
)
 
13,117

 
(14,495
)
Cash at beginning of year
19,493

 
6,376

 
20,871

Cash at end of year
$
8,370

 
$
19,493

 
$
6,376