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Fair Values of Assets and Liabilities (Tables)
 3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]  
Fair Value Inputs, Assets, Quantitative Information
In accordance with ASU No. 2011-4, the following table provides information related to quantitative inputs and assumptions used in Level 3 fair value measurements.
Fair Value (dollars
in thousands)		Valuation
Technique		Unobservable InputsRange /
(weighted average)
March 31, 2021
Other Investments$1,670 CarryingValueN/AN/A
Nonperforming Loans736  (a)Gas Reserve StudyDiscount rate10.00%
Gas per MMBTU$2.00 - $2.00 (b)
Oil per BBL/d$50.00 - $50.00 (b)
5,149  (a)Discounted Cash FlowDiscount Rate6.50%
Limited Partnership Investments7,010 Par ValueN/AN/A
December 31, 2020
Other Investments$1,670 CarryingValueN/AN/A
Nonperforming Loans798  (a)Gas Reserve StudyDiscount rate10.00%
Gas per MMBTU$1.46 - $1.48 (b)
Oil per BBL/d$36 - $36 (b)
Limited Partnership Investments6,619 Par ValueN/AN/A
 
(a)The remainder of nonperforming loans valued using Level 3 inputs are not included in this disclosure as the values of those loans are based on bankruptcy agreement documentation.
(b)Unobservable inputs are defined as follows: MMBTU - one million British thermal units; BBL/d - barrels per day.
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis
The tables below present the balances of assets and liabilities measured at fair value on a recurring basis:
 March 31, 2021
 Level 1Level 2Level 3Total
 (dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities - Residential$— $6,690 $— $6,690 
Mortgage-Backed Securities - Commercial— 272,901 — 272,901 
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities - Residential— 728,668 — 728,668 
Other Government-Sponsored Enterprises— 975 — 975 
Obligations of States and Political Subdivisions— 9,565 — 9,565 
Corporate Securities— 24,459 — 24,459 
Total Securities Available for Sale— 1,043,258 — 1,043,258 
Other Investments— 11,775 1,670 13,445 
Loans Held for Sale— 20,604 — 20,604 
Premises and Equipment, net— 291 — 291 
Other Assets(a)
— 33,555 7,010 40,565 
Total Assets$— $1,109,483 $8,680 $1,118,163 
Other Liabilities(a)
$— $36,171 $— $36,171 
Total Liabilities$— $36,171 $— $36,171 
(a)Hedging and non-hedging interest rate derivatives and limited partnership investments
 December 31, 2020
 Level 1Level 2Level 3Total
 (dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities - Residential$— $7,230 $— $7,230 
Mortgage-Backed Securities - Commercial— 191,180 — 191,180 
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities - Residential— 496,033 — 496,033 
Other Government-Sponsored Enterprises— 100,998 — 100,998 
Obligations of States and Political Subdivisions— 11,397 — 11,397 
Corporate Securities— 24,385 — 24,385 
Total Securities Available for Sale— 831,223 — 831,223 
Other Investments— 10,557 1,670 12,227 
Loans Held for Sale— 33,436 — 33,436 
Premises and Equipment, net— 442 — 442 
Other Assets(a)
— 54,362 6,619 60,981 
Total Assets$— $930,020 $8,289 $938,309 
Other Liabilities(a)
$— $61,308 $— $61,308 
Total Liabilities$— $61,308 $— $61,308 
(a)Hedging and non-hedging interest rate derivatives
Schedule of Assets Measured on Non-Recurring Basis
The tables below present the balances of assets measured at fair value on a nonrecurring basis at:
 March 31, 2021
 Level 1Level 2Level 3Total
 (dollars in thousands)
Nonperforming loans$— $29,467 $17,807 $47,274 
Other real estate owned— 1,063 — 1,063 
Total Assets$— $30,530 $17,807 $48,337 

 December 31, 2020
 Level 1Level 2Level 3Total
 (dollars in thousands)
Nonperforming loans$— $35,543 $13,604 $49,147 
Other real estate owned— 1,319 — 1,319 
Total Assets$— $36,862 $13,604 $50,466 
Losses Realized on Assets Measured on Non-Recurring Basis
The following losses were realized on the assets measured on a nonrecurring basis:
 For the Three Months Ended March 31,
 20212020
 (dollars in thousands)
Nonperforming loans$205 $(8,029)
Other real estate owned(6)(101)
Total losses$199 $(8,130)
Carrying Amounts and Fair Values of Financial Instruments
The following table presents carrying amounts and fair values of First Commonwealth’s financial instruments:
 March 31, 2021
  Fair Value Measurements Using:
 Carrying
Amount		TotalLevel 1Level 2Level 3
 (dollars in thousands)
Financial assets
Cash and due from banks$83,989 $83,989 $83,989 $— $— 
Interest-bearing deposits420,645 420,645 420,645 — — 
Securities available for sale1,043,258 1,043,258 — 1,043,258 — 
Securities held to maturity407,833 408,118 — 408,118 — 
Other investments13,445 13,445 — 11,775 1,670 
Loans held for sale20,604 20,604 — 20,604 — 
Loans6,736,894 7,111,000 — 29,467 7,081,533 
Financial liabilities
Deposits7,869,256 7,869,730 — 7,869,730 — 
Short-term borrowings110,762 110,446 — 110,446 — 
Subordinated debt170,653 172,619 — — 172,619 
Long-term debt56,089 57,276 — 57,276 — 
Capital lease obligation6,270 6,270 — 6,270 — 

 December 31, 2020
  Fair Value Measurements Using:
 Carrying
Amount		TotalLevel 1Level 2Level 3
 (dollars in thousands)
Financial assets
Cash and due from banks$100,009 $100,009 $100,009 $— $— 
Interest-bearing deposits256,572 256,572 256,572 — — 
Securities available for sale831,223 831,223 — 831,223 — 
Securities held to maturity361,844 369,851 — 369,851 — 
Other investments12,227 12,227 — 10,557 1,670 
Loans held for sale33,436 33,436 — 33,436 — 
Loans6,761,183 7,202,763 — 35,543 7,167,220 
Financial liabilities
Deposits7,438,666 7,440,906 — 7,440,906 — 
Short-term borrowings117,373 117,037 — 117,037 — 
Subordinated debt170,612 165,665 — — 165,665 
Long-term debt56,258 57,881 — 57,881 — 
Capital lease obligation6,385 6,385 — 6,385 — 
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques
For the three months ended March 31, changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows:
 2021
 Other InvestmentsOther
Assets		Total
 (dollars in thousands)
Balance, beginning of period$1,670 $6,620 $8,290 
Total gains or losses
Included in earnings— — — 
Included in other comprehensive income— — — 
Purchases, issuances, sales and settlements
Purchases— 390 390 
Issuances— — — 
Sales— — — 
Settlements— — — 
Transfers from Level 3— — — 
Transfers into Level 3— — — 
Balance, end of period$1,670 $7,010 $8,680 
 

 
 2020
 Other InvestmentsOther
Assets		Total
 (dollars in thousands)
Balance, beginning of period$1,670 $5,795 $7,465 
Total gains or losses
Included in earnings— — — 
Included in other comprehensive income— — — 
Purchases, issuances, sales and settlements
Purchases— 428 428 
Issuances— — — 
Sales— — — 
Settlements— — — 
Transfers from Level 3— — — 
Transfers into Level 3— — — 
Balance, end of period$1,670 $6,223 $7,893