Capital

12 Months Ended

Dec. 31, 2016

Disclosure Capital Additional Information [Abstract]

Capital

Capital

On June 19, 2012 First Commonwealth announced a $50.0 million common stock repurchase program. On January 29, 2013, January 28, 2014, January 27, 2015 and on February 17, 2016, additional share repurchase programs were authorized for up to $25.0 million in shares of the Company’s common stock for each of the four repurchase programs. During 2016, the Company had purchased 45,612 shares at an average price of $8.46 per share under the program. The repurchase program was suspended in July 2016 as a result of the acquisition of thirteen branches in northern Ohio which management believes represents a better use of capital for shareholder. Repurchases under all programs resulted in a total of 16,665,735 shares repurchased at an average price of $7.55 per share.