Condensed Financial Information of First Commonwealth Financial Corporation (parent company only) (Tables)

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Statements of Financial Condition

Statements of Financial Condition	December 31,
	2014		2013
	(dollars in thousands)
Assets
Cash	$	10,402	$	8,370
Loans	24		27
Investment in subsidiaries	712,610		696,438
Investment in unconsolidated subsidiary trusts	2,182		2,182
Investment in jointly-owned company	8,749		8,559
Premises and equipment, net	4,287		6,376
Receivable from subsidiaries	—		267
Dividends receivable from subsidiaries	—		1,319
Other assets	50,988		62,633
Total assets	$	789,242	$	786,171
Liabilities and Shareholders’ Equity
Accrued expenses and other liabilities	$	930	$	2,307
Subordinated debentures payable	72,167		72,167
Shareholders’ equity	716,145		711,697
Total liabilities and shareholders’ equity	$	789,242	$	786,171

Statements of Operations

Statements of Income	For the years ended December 31,
	2014			2013			2012
	(dollars in thousands)
Interest and dividends	$	1		$	1		$	1
Dividends from subsidiaries	49,207			65,140			64,342
Interest expense	(2,335		)	(3,128		)	(5,711		)
Other income	1,251			2,653			12,581
Operating expense	(6,766		)	(8,820		)	(19,061		)
Income (loss) before taxes and equity in undistributed (loss) earnings of subsidiaries	41,358			55,846			52,152
Applicable income tax benefits	2,968			3,384			4,364
Income before equity in undistributed (loss) earnings of subsidiaries	44,326			59,230			56,516
Equity in undistributed earnings (loss) of subsidiaries	127			(17,748		)	(14,562		)
Net income	$	44,453		$	41,482		$	41,954

Statements of Cash Flow

	For the years ended December 31,
Statements of Cash Flow	2014			2013			2012
	(dollars in thousands)
Operating Activities
Net income	$	44,453		$	41,482		$	41,954
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,150			3,030			3,719
Net gain (loss) on sales of assets	—			17			(107		)
(Increase) decrease in prepaid income taxes	(487		)	3,044			(3,044		)
Undistributed equity in subsidiaries	(127		)	17,748			14,562
Other net	13,077			12,964			8,789
Net cash provided by operating activities	59,066			78,285			65,873
Investing Activities
Net change in loans	3			4			4
Purchases of premises and equipment	(47		)	(123		)	(3,005		)
Proceeds from sale of other assets	13			1,132			4,309
Net cash (used in) provided by investing activities	(31		)	1,013			1,308
Financing Activities
Repayments of subordinated debenture	—			(34,702		)	—
Discount on dividend reinvestment plan purchases	(65		)	(112		)	(92		)
Dividends paid	(26,174		)	(22,344		)	(18,759		)
Proceeds from reissuance of treasury stock	192			176			1,028
Purchase of treasury stock	(30,956		)	(33,439		)	(36,242		)
Stock option tax benefit	—			—			1
Net cash used in financing activities	(57,003		)	(90,421		)	(54,064		)
Net increase (decrease) in cash	2,032			(11,123		)	13,117
Cash at beginning of year	8,370			19,493			6,376
Cash at end of year	$	10,402		$	8,370		$	19,493