10-K

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-K

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2021

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                      to                     

Commission file Number 001-11138

FIRST COMMONWEALTH FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

PENNSYLVANIA		25-1428528
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)
601 PHILADELPHIA STREET		15701
INDIANA,	PA
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (724) 349-7220

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Name of each exchange on which registered
COMMON STOCK, $1 PAR VALUE	NEW YORK STOCK EXCHANGE

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.  Yes  x No ¨

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ¨    No x

Note—Checking the box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Exchange Act from their obligations under those Sections.

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x    No ¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x    No ¨

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this form 10-K. ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer x     Accelerated filer ¨   Non-accelerated filer ¨    Smaller reporting company ☐ Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐    No x

The aggregate market value of the voting and non-voting common stock, par value $1 per share, held by non-affiliates of the registrant (based upon the closing sale price on June 30, 2021) was approximately $1,331,110,247.

The number of shares outstanding of the registrant’s common stock, $1.00 Par Value as of February 25, 2022, was 94,299,094.

DOCUMENTS INCORPORATED BY REFERENCE

Portions of the definitive Proxy Statement to be filed with the Securities and Exchange Commission in connection with the annual meeting of shareholders to be held April 26, 2022 are incorporated by reference into Part III.

Table of Contents

FIRST COMMONWEALTH FINANCIAL CORPORATION AND SUBSIDIARIES

FORM 10-K

INDEX

PART I		PAGE
ITEM 1.	Business	4
ITEM 1A.	Risk Factors	15
ITEM 1B.	Unresolved Staff Comments	23
ITEM 2.	Properties	23
ITEM 3.	Legal Proceedings	24
ITEM 4.	Mine Safety Disclosures	24
	Executive Officers of First Commonwealth Financial Corporation	25
PART II
ITEM 5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchase of Equity Securities	26
ITEM 6.	[Reserved]	27
ITEM 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	28
ITEM 7A.	Quantitative and Qualitative Disclosures About Market Risk	50
ITEM 8.	Financial Statements and Supplementary Data	51
ITEM 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	117
ITEM 9A.	Controls and Procedures	117
ITEM 9B.	Other Information	119
PART III
ITEM 10.	Directors, Executive Officers and Corporate Governance	120
ITEM 11.	Executive Compensation	120
ITEM 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	120
ITEM 13.	Certain Relationships and Related Transactions, and Director Independence	121
ITEM 14.	Principal Accountant Fees and Services	121
PART IV
ITEM 15.	Exhibits, Financial Statements and Schedules	122
ITEM 16.	Form 10-K Summary	123
	Signatures	124

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FORWARD-LOOKING STATEMENTS

Certain statements contained in this Annual Report on Form 10-K that are not statements of historical fact constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”), notwithstanding that such statements are not specifically identified as such. In addition, certain statements may be contained in our future filings with the Securities and Exchange Commission, in press releases, and in oral and written statements made by us or with our approval that are not statements of historical fact and constitute forward-looking statements within the meaning of the Act. Examples of forward-looking statements include, but are not limited to: (i) projections of revenues, expenses, income or loss, earnings or loss per share, the payment or nonpayment of dividends, capital structure and other financial items; (ii) statements of plans, objectives and expectations of First Commonwealth or its management or Board of Directors, including those relating to products, services or operations; (iii) statements of future economic performance; and (iv) statements of assumptions underlying such statements. Words such as “believe,” “anticipate,” “expect,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could” or “may,” are intended to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those in such statements. Factors that could cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to:

•Local, regional, national and international economic conditions and the impact they may have on us and our customers and our assessment of that impact.

•Volatility and disruption in national and international financial markets.

•Government intervention in the U.S. financial system.

•Changes in the mix of loan geographies, sectors and types or the level of non-performing assets and charge-offs.

•Changes in estimates of future reserve requirements based upon the periodic review thereof under relevant regulatory and accounting requirements.

•The effects of and changes in trade and monetary and fiscal policies and laws, including the interest rate policies of the Federal Reserve Board.

•Inflation, interest rate, securities market and monetary fluctuations.

•The effect of changes in laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) with which we and our subsidiaries must comply.

•The soundness of other financial institutions.

•Political instability.

•Impairment of our goodwill or other intangible assets.

•Acts of God or of war or terrorism.

•The timely development and acceptance of new products and services and perceived overall value of these products and services by users.

•Changes in consumer spending, borrowings and savings habits.

•Changes in the financial performance and/or condition of our borrowers.

•Technological changes.

•The cost and effects of cyber incidents or other failures, interruption or security breaches of our systems or those of third-party providers.

•Acquisitions and integration of acquired businesses.

•Our ability to increase market share and control expenses.

•Our ability to attract and retain qualified employees.

•Changes in the competitive environment in our markets and among banking organizations and other financial service providers.

•The effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board and other accounting standard setters.

•Changes in the reliability of our vendors, internal control systems or information systems.

•Changes in our liquidity position.

•Changes in our organization, compensation and benefit plans.

•The impact of the ongoing COVID-19 pandemic and any other pandemic, epidemic or health-related crisis.

•The costs and effects of legal and regulatory developments, the resolution of legal proceedings or regulatory or other governmental inquiries, the results of regulatory examinations or reviews and the ability to obtain required regulatory approvals.

•Greater than expected costs or difficulties related to the integration of new products and lines of business.

•Our success at managing the risks involved in the foregoing items.

Forward-looking statements speak only as of the date on which such statements are made. We do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events.

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PART I

ITEM 1.    Business

Overview

First Commonwealth Financial Corporation (“First Commonwealth,” the “Company” or “we”) is a financial holding company headquartered in Indiana, Pennsylvania. First Commonwealth's subsidiaries include, First Commonwealth Bank ("FCB" or the "Bank"), First Commonwealth Insurance Agency, Inc. ("FCIA"), FRAMAL and First Commonwealth Financial Advisors, ("FCFA"). We provide a diversified array of consumer and commercial banking services through our bank subsidiary, FCB. We also provide trust and wealth management services and offer insurance products through FCB and our other operating subsidiaries. At December 31, 2021, we had total assets of $9.5 billion, total loans of $6.9 billion, total deposits of $8.0 billion and shareholders’ equity of $1.1 billion. Our principal executive office is located at 601 Philadelphia Street, Indiana, Pennsylvania 15701, and our telephone number is (724) 349-7220.

FCB is a Pennsylvania bank and trust company. At December 31, 2021, the Bank operated 118 community banking offices throughout western and central Pennsylvania, and northeastern, central and southwestern Ohio, as well as corporate banking centers in Pittsburgh, Pennsylvania, and Columbus, Canton and Cleveland, Ohio, and mortgage banking offices in Wexford, Pennsylvania, and Hudson, Westlake and Lewis Center, Ohio. The Bank also operates a network of 136 automated teller machines, or ATMs, at various branch offices and offsite locations. All of our ATMs are part of the NYCE and MasterCard/Cirrus networks, both of which operate nationwide. The Bank is a member of the Allpoint ATM network, which allows surcharge-free access to over 55,000 ATMs. The Bank is also a member of the “Freedom ATM Alliance,” which affords cardholders surcharge-free access to a network of over 350 ATMs in over 50 counties in Pennsylvania, Maryland, New York, and Ohio.

Historical and Recent Developments

FCB began in 1934 as First National Bank of Indiana. First National Bank of Indiana changed its name to National Bank of the Commonwealth in 1971 and became a subsidiary of First Commonwealth in 1983.

Since the formation of the holding company in 1983, we have grown steadily through the acquisition of smaller banks and thrifts in our market area, including Deposit Bank in 1984, Dale National Bank and First National Bank of Leechburg in 1985, Citizens National Bank of Windber in 1986, Peoples Bank and Trust Company in 1990, Central Bank in 1992, Peoples Bank of Western Pennsylvania in 1993, and Unitas National Bank and Reliable Savings Bank in 1994. In 1995, we merged all of our banking subsidiaries (other than Reliable Savings Bank) into Deposit Bank and renamed the resulting institution “First Commonwealth Bank.” We then merged Reliable Savings Bank into FCB in 1997. We acquired Southwest Bank in 1998 and merged it into FCB in 2002.

We expanded our presence in the Pittsburgh market through the acquisitions of Pittsburgh Savings Bank (dba BankPittsburgh) in 2003, Great American Federal in 2004 and Laurel Savings Bank in 2006. These acquisitions added 27 branches in Allegheny and Butler Counties.

In 2015, we expanded into central Ohio through the acquisition of First Community Bank with four branches in the Columbus area. In 2016, we acquired 13 branches from FirstMerit Bank, National Association, in Canton-Massillon and Ashtabula, Ohio and in 2017, we acquired DCB Financial Corp ("DCB") and its banking subsidiary The Delaware County Bank and Trust Company with nine full-service banking offices in the Columbus, Ohio MSA. In 2018, we acquired Garfield Acquisition Corp., and its banking subsidiary Foundation Bank with five full-service banking offices in the Cincinnati, Ohio area. Additionally, since 2014, we have expanded our presence in this Ohio market by opening a corporate loan production office in Columbus, Canton and Cleveland, Ohio, and mortgage loan offices in Hudson, Canfield and Lewis Center, Ohio.

In 2019, we expanded our Pennsylvania markets into State College, Lock Haven, Williamsport and Lewisburg through the acquisition of 14 branches from Santander Bank, N.A.

We have also focused on organic growth, improving the reach of our franchise and the breadth of our product offering. As part of this strategy, we have opened fourteen de novo branches since 2005, all of which are in the greater Pittsburgh area. As a result of our prior acquisitions and de novo strategy, FCB operates 48 branches and a corporate banking center in the Pittsburgh metropolitan statistical area and currently ranks tenth in deposit market share. In 2021, we announced an initiative to enter the equipment leasing and finance business. This division is based in suburban Philadelphia and became operational in the first quarter of 2022.

Our operating objectives include expansion, diversification within our markets, growth of our fee-based income, and growth internally and through acquisitions of financial institutions, branches, and financial services businesses. We generally seek merger or acquisition partners that are culturally similar, have experienced management and possess either significant market

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presence or have potential for improved profitability through financial management, economies of scale and expanded services. We regularly evaluate merger and acquisition opportunities and, from time to time, conduct due diligence activities related to possible transactions with other financial institutions and financial services companies. As a result, merger or acquisition discussions and, in some cases, negotiations, may take place and future merger acquisitions involving cash, debt or equity securities may occur. Acquisitions typically involve the payment of a premium over book and market values, and, therefore, some dilution of First Commonwealth’s tangible book value and net income per common share may occur in connection with any future transaction. Our ability to engage in certain merger or acquisition transactions, whether or not any regulatory approval is required, will be dependent upon our bank regulators’ views at the time as to our capital levels, quality of management and our overall condition and their assessment of a variety of other factors. Certain merger or acquisition transactions, including those involving the acquisition of a depository institution or the assumption of the deposits of any depository institution, require formal approval from various bank regulatory authorities, which will be subject to a variety of factors and considerations.

Loan Portfolio

The Company’s loan portfolio includes several categories of loans that are discussed in detail below.

Commercial, Financial, Agricultural and Other

Commercial, financial, agricultural and other loans represent term loans used to acquire business assets or revolving lines of credit used to finance working capital. These loans are generally secured by a first lien position on the borrower’s business assets as a secondary source of repayment. The type and amount of the collateral varies depending on the amount and terms of the loan, but generally may include accounts receivable, inventory, equipment or other assets. Loans also may be supported by personal guarantees from the principals of the commercial loan borrowers.

Commercial loans are underwritten for credit-worthiness based on the borrowers’ financial information, cash flow, net worth, prior loan performance, existing debt levels, type of business and the industry in which it operates. Advance rates on commercial loans are generally collateral-dependent and are determined based on the type of equipment, the mix of inventory and the quality of receivables.

Credit risk for commercial loans can arise from a borrower’s inability or unwillingness to repay the loan, and in the case of secured loans, from a shortfall in the collateral value in relation to the outstanding loan balance in the event of a default and subsequent liquidation of collateral. The Company’s Credit Policy establishes loan concentration limits by borrower, geography and industry.

Commercial Real Estate

Commercial real estate loans represent term loans secured by owner-occupied and non-owner occupied properties. Commercial real estate loans are underwritten based on an evaluation of each borrower’s cash flow as the principal source of loan repayment, and are generally secured by a first lien on the property as a secondary source of repayment. Our underwriting process for non-owner occupied properties evaluates the history of occupancy, quality of tenants, lease terms, operating expenses and cash flow. Commercial real estate loans are subject to the same credit evaluation as previously described for commercial loans. Approximately 18%, by principal amount, of our commercial real estate loans involve owner-occupied properties.

For loans secured by commercial real estate, at origination the Company obtains current and independent appraisals from licensed or certified appraisers to assess the value of the underlying collateral. The Company’s general policy for commercial real estate loans is to limit the terms of the loans to not more than 10 years with loan-to-value ratios not exceeding 80% on owner-occupied and income producing properties. For non-owner occupied commercial real estate loans, the loan terms are generally aligned with the property’s lease terms and are generally underwritten with a loan-to-value ratio not exceeding 75%.

Credit risk for commercial real estate loans can arise from economic conditions that could impact market demand, rental rates and property vacancy rates and declines in the collateral value in relation to the outstanding loan balance in the event of a default and subsequent liquidation of collateral.

Real Estate Construction

Real estate construction represents financing for real estate development.  The underwriting process for these loans is designed to confirm that the project will be economically feasible and financially viable and is generally conducted as though the Company would be providing permanent financing for the project. Development and construction loans are secured by the properties under development or construction, and personal guarantees are typically obtained as a secondary repayment source.

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The Company considers the financial condition and reputation of the borrower and any guarantors and generally requires a global cash flow analysis in order to assess the overall financial position of the developer. 

Construction loans to residential builders are generally made for the construction of residential homes for which a binding sales contract exists and for which the prospective buyers have been pre-qualified for permanent mortgage financing by either third-party lenders or the Company.  These loans are generally for a period of time sufficient to complete construction.

Residential construction loans to individuals generally provide for the payment of interest only during the construction phase. At the end of the construction phase, substantially all of our loans automatically convert to permanent mortgage loans and can either be retained in our loan portfolio or sold on the secondary market.

Credit risk for real estate construction loans can arise from construction delays, cost overruns, failure of the contractor to complete the project to specifications and economic conditions that could impact demand for or supply of the property being constructed.

Residential Real Estate

Residential real estate loans include first lien mortgages used by the borrower to purchase or refinance a principal residence and home equity loans and lines of credit secured by residential real estate. The Company’s underwriting process for these loans determines credit-worthiness based upon debt-to-income ratios, collateral values and other relevant factors.

Credit risk for residential real estate loans can arise from a borrower’s inability or unwillingness to repay the loan or a shortfall in the value of the residential real estate in relation to the outstanding loan balance in the event of a default and subsequent liquidation of the real estate collateral. 

The residential real estate portfolio includes both conforming and non-conforming mortgage loans. Conforming mortgage loans represent loans originated in accordance with underwriting standards set forth by the government-sponsored entities, including the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation and the Government National Mortgage Association, which serve as the primary purchasers of loans sold in the secondary mortgage market by mortgage lenders. These loans are generally collateralized by one-to-four-family residential real estate, have loan-to-collateral value ratios of 80% or less (or have mortgage insurance to insure down to 80%), and are made to borrowers in good credit standing.  Non-conforming mortgage loans represent loans that generally are not saleable in the secondary market to the government-sponsored entities due to factors such as the credit characteristics of the borrower, the underlying documentation, the loan-to-value ratio, or the size of the loan. The Company does not offer “subprime,” “interest-only” or “negative amortization” mortgages.

Home equity lines of credit and other home equity loans are originated by the Company for typically up to 90% of the appraised value, less the amount of any existing prior liens on the property. Additionally, the Company’s credit policy requires borrower FICO scores of not less than 661 and a debt-to-income ratio of not more than 43%.

Loans to Individuals

The loans to individuals category includes consumer installment loans, personal lines of credit, consumer credit cards and indirect automobile and recreational vehicle loans. Credit risk for consumer loans can arise from a borrower’s inability or unwillingness to repay the loan, and in the case of secured loans, by a shortfall in the value of the collateral in relation to the outstanding loan balance in the event of a default and subsequent liquidation of collateral. 

The underwriting criteria for automobile loans generally allows for such loans to be made for up to 100% of the purchase price or the retail value of the vehicle as listed by the National Automobile Dealers Association. The terms of the loan are determined by the age and condition of the collateral, and range from 36 to 84 months. Collision insurance policies are required on all automobile loans. The Company also makes other consumer loans, which may or may not be secured. The terms of secured consumer loans generally depend upon the nature of the underlying collateral. Unsecured consumer loans and consumer credit cards usually do not exceed $35 thousand. Unsecured consumer loans usually have a term of no longer than 36 months.

Deposits

Deposits are our primary source of funds to support our revenue-generating assets. We offer traditional deposit products to businesses and other customers with a variety of rates and terms. Deposits at our bank are insured by the FDIC up to statutory limits. We price our deposit products with a view to maximizing our share of each customer’s financial services business and prudently managing our cost of funds. At December 31, 2021, we held $8.0 billion of total deposits, which consisted of $2.7 billion, or 33%, in non-interest bearing checking accounts, $4.9 billion, or 62%, in interest-bearing checking accounts, money market and savings accounts, and $0.4 billion, or 5%, in CDs and IRAs.

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Competition

The banking and financial services industry is extremely competitive in our market area. We face vigorous competition for customers, loans and deposits from many companies, including commercial banks, savings and loan associations, finance companies, credit unions, trust companies, mortgage companies, money market mutual funds, insurance companies, and brokerage and investment firms. Many of these competitors are significantly larger than us, have greater resources, higher lending limits and larger branch systems and offer a wider array of financial services than us. In addition, some of these competitors, such as credit unions, are subject to a lesser degree of regulation or taxation than banks.

Human Capital Resources

Workforce Composition and Demographics

At December 31, 2021, First Commonwealth and its subsidiaries employed 1,393 full-time employees and 78 part-time employees with 609 exempt and 862 non-exempt employees. The average age of the workforce is 43.1 years and the average tenure is 7.7 years. Our workforce is 67% female.

Diversity & Inclusion

In 2021, we strengthened and accelerated our focus on and action towards Diversity & Inclusion ("D&I") in several key ways. We appointed Vicki L. Fox as Senior Vice President and Diversity & Inclusion Officer with overall responsibility for identifying and mentoring diverse talent, keeping management apprised of emerging D&I issues, and evolving our D&I practices. Ms. Fox has an extensive background in human resources and banking at First Commonwealth, and a deep connection with our company and communities, especially our Pittsburgh market.

Ms. Fox serves as the co-chair of our Diversity & Inclusion Committee, along with T. Michael Price, CEO. The Committee is comprised of executive and senior leadership and diverse employees and is actively involved in developing and overseeing initiatives to support our D&I initiatives.

The following is a summary of D&I initiatives in 2021:

•We distributed regional and line of business diversity scorecards in each of our five regions and to our executive officers for their unit to increase accountability for diversity in our workforce.

•We provided D&I training to our Board of Directors and senior leaders.

•We created an African American employee resource group to receive and respond to feedback on ways in which First Commonwealth can better attract and retain African American employees. Their work resulted in creating an ambassador program for new African American hires that will lead into mentorship relationships with leaders in the company and a welcome video to connect African American new hires to African American leaders.

•Our strong partnership with BankWork$ continued in our Pittsburgh market. Through a structured training program, BankWork$ prepares people from underserved communities for entry-level, branch roles in banking. First Commonwealth actively participates by engaging in classroom discussions with students, attending job fairs and hiring graduates.

Our focus on D&I has produced meaningful progress in several scorecard categories. As of December 31, 2021, racial minorities comprised 6.7% of the workforce. Racial minorities and women comprised 5.2% and 48.2%, respectively of those in leadership positions (defined by corporate title, Assistant Vice President and higher). Women, including one racial minority, hold three seats on our Board of Directors.

Several of our employees were recognized for their work advancing D&I, including Ms. Fox and Jane Grebenc, our Chief Revenue Officer and Bank President, who were both recognized by the Pennsylvania Banker’s Association for their work in championing women in the banking industry. Other employees received external recognitions, including awards for ‘Foremost Under Forty’, Black Excellence in Real Estate, Patriotic Employer Award, NAACP Community Service Award-Indiana County, PA and Young Professionals Forty Under Forty.

Talent Attraction and Retention

Our employees are key to the success of delivering our mission as an organization and achieving our financial targets. We are committed to attracting, retaining and promoting top quality talent regardless of race, color, religion, gender, sexual orientation, national origin, age, disability, marital status, military status, genetic information or any other category protected by federal, state and local laws. We strive to identify and select the best candidates for all open positions based on qualifying factors for each job. We are dedicated to providing a workplace environment and culture for our employees that is inclusive, supportive,

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and free of any form of discrimination or harassment; rewarding and recognizing our employees based on their individual results and performance; and recognizing and respecting all of the characteristics and differences that make each of our employees unique.

Talent Development

Guided by executive leadership, our Strategic and Inspired Leadership ("SAIL") program strengthens our senior leadership. Over 130 of our leaders are involved in quarterly forums and regional “musters” (or meetings) that focus on relevant topics, such as our strategic and operating plans, D&I, employee engagement and learning & growth opportunities. The sessions are informative and collaborative and valued by the participants.

Since 2009, we’ve supported a mentorship program, open to all employees. The program provides 1:1 mentorship pairings, group development sessions and volunteer opportunities. In 2021, there were a total of 116 participants, including 75 women and 13 racial minorities.

Within our retail unit, we provide a career development program for entry level employees to help them achieve positions of increased opportunity. Leaders are given industry-specific training as well as development opportunities to understand their strengths and improve coaching and execution skills. We also provided inclusive leadership courses, including helping employees communicate as an ally. Lastly, we invested in an established, industry-specific and developmental training course library from which all employees benefit.

Our talent acquisition priority is to invest in the development of internal talent and to provide career advancement opportunities to our employees. In 2021, we promoted 324 employees, of whom 70% were female and 7% were self-identified minorities.

In 2021, we leveraged the lessons learned as a result of remote work through the pandemic to effectively structure and deliver a permanent telecommuting policy and program for approximately 27% of our workforce. We believe that flexible work location opportunities will allow us to broaden our candidate pool and retain employees whose jobs can be performed remotely.

We listen to our employees through market visits, executive forums and our annual employee engagement survey. In 2021, 67% of our employees completed the annual survey. Our overall ratings exceeded the medians of the financial services industry and all companies that utilize our survey provider. The survey reflected that employees have fulfillment in working for a community bank and making a difference and are satisfied with their jobs and First Commonwealth as a whole.

Our employment turnover for 2021 was calculated at 31.2%, which is generally aligned with industry benchmarks.

Compensation and Benefits

We strive to provide a competitive and fair total compensation package to our employees. We price positions against recent industry benchmark reports and salary surveys to establish salary ranges. In 2021, we made significant steps to attract and retain employees in our retail and operations units by increasing the base pay in several positions to align with career advancement opportunities and to address market competition and wage compression.

Employee benefits plans support employees with insurance, retirement and work/life plans. Our health plan is structured with a tiered premium approach in which 39% of plan participants are in the lowest tier and pay a lower monthly premium than the other two higher paying tiers. Our 401k plan offers an employer match on employee contributions of up to 4% of eligible earnings. We offer a variety of other benefits, including disability plans, a generous paid-time off policy and an employee assistance program.

Health and Safety

As the global pandemic continued into 2021, we continued to prioritize the safety and well-being of our employees, customers, partners and communities through healthy workplace practices and consistent communication reminders and updates.

We continuously supported cleaning protocols, provided personal protective equipment to our employees, required face coverings for employees and customers, conducted temperature screening and took other measures to comply with directives of state and local health departments. We safely welcomed back employees to the workplace in fall 2021, with flexibility to continue working remotely as needed. We also developed a permanent telecommuting policy. As of December 31, 2021, we had 1,023 employees on location (70%), 399 telecommuting employees (27%) and 49 employees temporarily working from home (3%).

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We also support our employees by offering employee assistance programs that connect them with resources to help them in certain life situations, such as personal counselling, legal services and adoption. Our employees support each other through Hearts2Hands, an employee-funded program that provides financial assistance to employees who experience hardships.

Culture and Engagement

Our culture is rooted in our core values of accountability, customer focus, integrity, excellence and inclusion, and in our mission to improve the financial lives of our neighbors and their businesses. We practice a Customer Service Promise of five critical behaviors that we encourage every one of our employees to demonstrate at every customer interaction – internal or external – with the intent of creating an extraordinary customer experience, which is measured by our customer satisfaction scores. The five behaviors are to put customers first, be relentless, inspire confidence, champion simplicity and obsess with yes.

We are proud that we were selected as a Forbes World’s Best Bank in 2021 for the third consecutive year and earned the #1 SBA lender ranking by serving businesses in our Pittsburgh market. Based on employee feedback, First Commonwealth was named a Top Workplace in the Pittsburgh area in 2021 for the third consecutive year.

In 2021, First Commonwealth supported our communities with more than $2,000,000 in community giving and $46,000,000 in community development investment support. Our employees provided 13,600 volunteer hours and 625 hours of financial education classes. To recognize employees who go above and beyond in their volunteerism and community engagement, we present a quarterly “Golden Tower” award which includes $1,000 for the recipient to give to a charitable organization of their choice. We provide corporate support for the United Way, including a corporate match, and, in 2021, we gave more than $162,000 in total, with our match to support our employees’ contributions. In addition, our 2021 ‘Share the Warmth’ community campaign supported more than 20 local community action agencies across our footprint. In 2021, the company matched more than $30,000 in donations.

Supervision and Regulation

The following discussion sets forth the material elements of the regulatory framework applicable to financial holding companies, such as First Commonwealth, and their subsidiaries. The regulatory framework is intended primarily for the protection of depositors, other customers and the federal deposit insurance fund and not for the protection of security holders. The rules governing the regulation of financial institutions and their holding companies are very detailed and technical. Accordingly, the following discussion is general in nature and is not intended to be complete or to describe all the laws and regulations that apply to First Commonwealth and its subsidiaries. A change in applicable statutes, regulations or regulatory policy may have a material adverse effect on our business, financial condition or results of operations.

Bank Holding Company Regulation

First Commonwealth is registered as a financial holding company under the Bank Holding Company Act of 1956, as amended (“BHC Act”), and is subject to supervision and regulation by the Board of Governors of the Federal Reserve System (“FRB”).

Acquisitions. Under the BHC Act, First Commonwealth is required to obtain the prior approval of the FRB before it can merge or consolidate with any other bank holding company or acquire all or substantially all of the assets of any bank that is not already majority owned by it, or acquire direct or indirect ownership, or control of, any voting shares of any bank that is not already majority owned by it, if after such acquisition it would directly or indirectly own or control more than 5% of the voting shares of such bank. In reviewing applications seeking approval of merger and acquisition transactions, the bank regulatory authorities will consider, among other things, the competitive effect and public benefits of the transactions, the financial, including capital, position of the combined organization, the risks to the stability of the U.S. banking or financial system, the applicant's performance record under the Community Reinvestment Act ("CRA") and its compliance with fair housing and other consumer protection laws and the effectiveness of the subject organizations in combating money laundering activities.

Banking Holding Company Activities. In general, the BHC Act limits the business of bank holding companies to banking, managing or controlling banks and other activities that the FRB has determined to be so closely related to banking as to be a proper incident thereto. In addition, bank holding companies that qualify and elect to be financial holding companies such as First Commonwealth may engage in any activity, or acquire and retain the shares of a company engaged in any activity, that is either (i) financial in nature or incidental to such financial activity or (ii) complementary to a financial activity and does not pose a substantial risk to the safety and soundness of depository institutions or the financial system generally, without in either case the prior approval of the FRB. Activities that are financial in nature include securities underwriting and dealing, insurance agency activities and making merchant banking investments.

To maintain financial holding company status, a financial holding company and all of its depository institution subsidiaries must be well capitalized and well managed. A depository institution subsidiary is considered to be well capitalized if it satisfies the requirements for this status discussed in the section below captioned "Prompt Corrective Action." A depository institution

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subsidiary is considered well managed if it received a composite rating and management rating of at least satisfactory in its most recent examination. A financial holding company’s status will also depend upon maintaining its status as well capitalized and well managed under applicable FRB regulations. If a financial holding company ceases to meet these capital and management requirements, the FRB’s regulations provide that the financial holding company must enter into an agreement with the FRB to comply with all applicable capital and management requirements. Until the financial holding company returns to compliance, the FRB may impose limitations or conditions on the conduct of its activities, and the company may not commence any of the broader financial activities permissible for financial holding companies or acquire a company engaged in such financial activities without prior approval of the FRB. If the company does not return to compliance within 180 days, the FRB may require divestiture of the holding company’s depository institutions.

In order for a financial holding company to commence any new activity permitted by the BHC Act or to acquire a company engaged in any new activity permitted by the BHC Act, each insured depository institution subsidiary of the financial holding company must have received a rating of at least satisfactory in its most recent examination under the CRA.

The FRB has the power to order any bank holding company or its subsidiaries to terminate any activity or to terminate its ownership or control of any subsidiary when the FRB has reasonable grounds to believe that continuation of such activity or such ownership or control constitutes a serious risk to the financial soundness, safety or stability of any bank subsidiary of the bank holding company.

Reporting. Under the BHC Act, First Commonwealth is subject to examination by the FRB and is required to file periodic reports and other information of its operations with the FRB.

Source of Strength Doctrine. FRB policy and federal law require bank holding companies to act as a source of financial and managerial strength to their subsidiary banks. First Commonwealth is expected to commit resources to support FCB, including at times when First Commonwealth may not be in a financial position to provide such resources. Any capital loans by a bank holding company to any of its subsidiary banks are subordinate in right of payment to deposits and to certain other indebtedness of such subsidiary banks. In the event of a bank holding company’s bankruptcy, any commitment by the bank holding company to a federal bank regulatory agency to maintain the capital of a subsidiary bank will be assumed by the bankruptcy trustee and entitled to priority of payment.

Affiliate Transactions. Transactions between FCB, on the one hand, and First Commonwealth Financial Corporation and its other subsidiaries, on the other hand, are regulated under federal banking laws. The Federal Reserve Act imposes quantitative and qualitative requirements and collateral requirements on covered transactions by FCB with, or for the benefit of, its affiliates, and generally requires those transactions to be on terms at least as favorable to FCB as if the transaction were conducted with an unaffiliated third party. Covered transactions are defined by statute to include a loan or extension of credit, as well as a purchase of securities issued by an affiliate, a purchase of assets (unless otherwise exempted by the FRB) from the affiliate, certain derivative transactions that create a credit exposure to an affiliate, the acceptance of securities issued by the affiliate as collateral for a loan, and the issuance of a guarantee, acceptance or letter of credit on behalf of an affiliate. In general, any such transaction by FCB (or its subsidiaries) must be limited to certain thresholds on an individual and aggregate basis and, for credit transactions with any affiliate, must be secured by designated amounts of specified collateral.

SEC Regulations. First Commonwealth is also under the jurisdiction of the Securities and Exchange Commission (“SEC”) and various state securities commissions for matters relating to the offer and sale of its securities and is subject to the SEC rules and regulations relating to periodic reporting, proxy solicitation and insider trading.

Bank Regulation

FCB is a state bank chartered under the Pennsylvania Banking Code and is not a member of the FRB. As such, FCB is subject to the supervision of, and is regularly examined by, both the Federal Deposit Insurance Corporation (“FDIC”) and the Pennsylvania Department of Banking and Securities and is required to furnish quarterly reports to both agencies. The approval of the Pennsylvania Department of Banking and Securities and FDIC is also required for FCB to establish additional branch offices or merge with or acquire another banking institution.

Dividends. First Commonwealth is a legal entity separate and distinct from its banking and other subsidiaries. As a bank holding company, First Commonwealth is subject to certain restrictions on its ability to pay dividends under applicable banking laws and regulations. Federal bank regulators are authorized to determine under certain circumstances relating to the financial condition of a bank holding company or a bank that the payment of dividends would be an unsafe or unsound practice and to prohibit payment thereof. In particular, federal bank regulators have stated that paying dividends that deplete a banking organization’s capital base to an inadequate level would be an unsafe and unsound banking practice and that banking organizations should generally pay dividends only out of current operating earnings.

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A significant portion of our income comes from dividends from our bank, which is also the primary source of our liquidity. In addition to the restrictions discussed above, our bank is subject to limitations under Pennsylvania law regarding the level of dividends that it may pay to us. In general, dividends may be declared and paid only out of accumulated net earnings and may not be declared or paid unless surplus is at least equal to capital. Dividends may not reduce surplus without the prior consent of the Pennsylvania Department of Banking and Securities. FCB has not reduced its surplus through the payment of dividends. As of December 31, 2021, FCB could pay dividends to First Commonwealth of $311.1 million without reducing its capital levels below "well capitalized" levels and without the approval of the Pennsylvania Department of Banking and Securities.

Community Reinvestment. Under the Community Reinvestment Act ("CRA") a bank has a continuing and affirmative obligation, consistent with its safe and sound operation, to help meet the credit needs of its entire community, including low and moderate income neighborhoods. The CRA does not establish specific lending requirements or programs for financial institutions nor does it limit an institution’s discretion to develop the types of products and services that it believes are best suited to its particular community, consistent with the CRA. The CRA requires the applicable regulatory agency to assess an institution’s record of meeting the credit needs of its community. The CRA requires public disclosure of an institution’s CRA rating and requires that the applicable regulatory agency provide a written evaluation of an institution’s CRA performance utilizing a four-tiered descriptive rating system. An institution’s CRA rating is considered in determining whether to grant charters, branches and other deposit facilities, relocations, mergers, consolidations and acquisitions. Performance less than satisfactory may be the basis for denying an application. For its most recent examination, FCB received a “satisfactory” rating.

Consumer Financial Protection. We are subject to a number of federal and state consumer protection laws that extensively govern our relationship with our customers. These laws include the Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Truth in Lending Act, the Truth in Savings Act, the Electronic Fund Transfer Act, the Expedited Funds Availability Act, the Home Mortgage Disclosure Act, the Fair Housing Act, the Real Estate Settlement Procedures Act, the Fair Debt Collection Practices Act, the Service Members Civil Relief Act and these laws’ respective state-law counterparts, as well as state usury laws and laws regarding unfair and deceptive acts and practices. These and other federal laws, among other things, require disclosures of the cost of credit and terms of deposit accounts, provide substantive consumer rights, prohibit discrimination in credit transactions, regulate the use of credit report information, provide financial privacy protections, prohibit unfair, deceptive and abusive practices, restrict our ability to raise interest rates and subject us to substantial regulatory oversight. Violations of applicable consumer protection laws can result in significant potential liability from litigation brought by customers, including actual damages, restitution and attorneys’ fees. Federal bank regulators, state attorneys general and state and local consumer protection agencies may also seek to enforce consumer protection requirements and obtain these and other remedies, including regulatory sanctions, customer rescission rights, action by the state and local attorneys general in each jurisdiction in which we operate and civil money penalties. Failure to comply with consumer protection requirements may also result in our failure to obtain any required bank regulatory approval for merger or acquisition transactions we may wish to pursue or our prohibition from engaging in such transactions even if approval is not required.

The Consumer Financial Protection Bureau ("CFPB"), has broad rulemaking, supervisory and enforcement powers under various federal consumer financial protection laws. Although all institutions are subject to rules adopted by the CFPB and examination by the CFPB in conjunction with examinations by the institution’s primary federal regulator, the CFPB has primary examination and enforcement authority over institutions with assets of $10 billion or more. The FDIC has primary responsibility for examination of our bank and enforcement with respect to federal consumer protection laws so long as our bank has total consolidated assets of less than $10 billion, and state authorities are responsible for monitoring our compliance with all state consumer laws. The CFPB also has the authority to require reports from institutions with less than $10 billion in assets, such as our bank, to support the CFPB in implementing federal consumer protection laws, supporting examination activities, and assessing and detecting risks to consumers and financial markets.

Deposit Insurance. Deposits of FCB are insured up to applicable limits by the FDIC and are subject to deposit insurance assessments to maintain the Deposit Insurance Fund (“DIF”). Deposit insurance assessments are based upon average total assets minus average total equity. The insurance assessments are based upon a matrix that takes into account a bank’s capital level and supervisory rating. The FDIC may terminate deposit insurance upon a finding that the institution has engaged in unsafe and unsound practices, is in an unsafe or unsound condition to continue operations, or has violated any applicable law, regulation, rule, order or condition imposed by the FDIC. As an institution with less than $10 billion in assets, FCB’s assessment rates are based on its risk classification (i.e., the level of risk it poses to the FDIC’s deposit insurance fund). For institutions with $10 billion or more in assets, assessment rates are calculated using a scorecard that combines the supervisory risk ratings of the institution with certain forward-looking financial measures. These assessment rates are subject to adjustments based upon the insured depository institution’s ratio of long-term unsecured debt to the assessment base, long-term unsecured debt issued by other insured depository institutions to the assessment base, and brokered deposits to the assessment base. However, the adjustments based on brokered deposits to the assessment base will not apply so long as the institution is well capitalized and has a composite CAMELS rating of 1 or 2. The CAMELS rating system is a bank rating system where bank supervisory authorities rate institutions according to six factors: capital adequacy, asset quality, management quality, earnings, liquidity and sensitivity to market risk. The FDIC may make additional discretionary assessment rate adjustments.

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Capital Requirements

First Commonwealth and FCB are each required to comply with applicable capital adequacy standards established by the FRB.

In July 2013, the federal bank regulators approved final rules (the “Basel III Capital Rules”) implementing the Basel III framework as well as certain provisions of the Dodd-Frank Act. Since fully phased in on January 1, 2019, the Basel III Capital Rules require First Commonwealth and FCB to maintain the following:

•A minimum ratio of Common Equity Tier 1 (“CET1”) to risk-weighted assets of at least 4.5%, plus a 2.5% “capital conservation buffer” (resulting in a minimum ratio of CET1 to risk-weighted assets of 7.0%);

•A minimum ratio of Tier 1 capital to risk-weighted assets of at least 6.0%, plus the capital conservation buffer (resulting in a minimum Tier 1 capital ratio of 8.5%);

•A minimum ratio of total capital (Tier 1 capital plus Tier 2 capital) to risk-weighted assets of at least 8.0%, plus the capital conservation buffer (resulting in a minimum total capital ratio of 10.5%); and

•A minimum leverage ratio of 4.0%, calculated as the ratio of Tier 1 capital to average consolidated assets as reported on consolidated financial statements (known as the “leverage ratio”).

Banking institutions that fail to meet the effective minimum ratios once the capital conservation buffer is taken into account, as detailed above, will be subject to constraints on capital distributions, including dividends and share repurchases, and certain discretionary executive compensation. The severity of the constraints depends on the amount of the shortfall and the institution’s “eligible retained income” (that is, four quarter trailing net income, net of distributions and tax effects not reflected in net income).

The Basel III Capital Rules provide for a number of deductions from and adjustments to CET1. These include, for example, the requirement that mortgage servicing rights, deferred tax assets arising from temporary differences that could not be realized through net operating loss carrybacks and significant investments in non-consolidated financial entities be deducted from CET1 to the extent that any one such category exceeds 10% of CET1 or all such categories in the aggregate exceed 15% of CET1. During 2015, First Commonwealth and FCB made a one-time permanent election, as permitted under Basel III Capital Rules, to exclude the effects of accumulated other comprehensive income items for the purposes of determining regulatory capital ratios.

With respect to FCB, the Basel III Capital Rules also revise the “prompt corrective action” regulations pursuant to Section 38 of the Federal Deposit Insurance Act, as discussed below under “Prompt Corrective Action.” The Basel III Capital Rules prescribe a standardized approach for risk weightings that expand the risk-weighting categories from the general risk-based capital rules to a much larger and more risk-sensitive number of categories, depending on the nature of the assets, generally ranging from 0% for U.S. government and agency securities, to 600% for certain equity exposures, and resulting in higher risk weights for a variety of asset categories.

Liquidity Requirements

The Basel III liquidity framework requires banks and bank holding companies to measure their liquidity against specific liquidity tests. One test, referred to as the liquidity coverage ratio (“LCR”), is designed to ensure that the banking entity maintains an adequate level of unencumbered high-quality liquid assets equal to the entity’s expected net cash outflow for a 30-day time horizon (or, if greater, 25% of its expected total cash outflow) under an acute liquidity stress scenario. The other test, referred to as the net stable funding ratio (“NSFR”), is designed to promote more medium- and long-term funding of the assets and activities of banking entities over a one-year time horizon. Rules applicable to certain large banking organizations have been implemented for LCR and proposed for NSFR; however, based on our asset size, these rules do not currently apply to First Commonwealth and FCB.

Prompt Corrective Action

The Federal Deposit Insurance Act, as amended (“FDIA”), requires, among other things, the federal banking agencies to take “prompt corrective action” in respect of depository institutions that do not meet minimum capital requirements. The FDIA includes the following five capital tiers: “well capitalized,” “adequately capitalized,” “undercapitalized,” “significantly undercapitalized” and “critically undercapitalized.” A depository institution’s capital tier will depend upon how its capital levels compare with various relevant capital measures and certain other factors, as established by regulation. The relevant capital measures are the total capital ratio, the CET1 capital ratio (a new ratio requirement under the Basel III Capital Rules), the Tier 1 capital ratio and the leverage ratio.

A bank will be (i) “well capitalized” if the institution has a total risk-based capital ratio of 10.0% or greater, a CET1 capital ratio of 6.5% or greater, a Tier 1 risk-based capital ratio of 8.0% or greater, and a leverage ratio of 5.0% or greater, and is not subject to any order or written directive by any such regulatory authority to meet and maintain a specific capital level for any capital measure; (ii) “adequately capitalized” if the institution has a total risk-based capital ratio of 8.0% or greater, a CET1

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capital ratio of 4.5% or greater, a Tier 1 risk-based capital ratio of 6.0% or greater, and a leverage ratio of 4.0% or greater and is not “well capitalized”; (iii) “undercapitalized” if the institution has a total risk-based capital ratio that is less than 8.0%, a CET1 capital ratio less than 4.5%, a Tier 1 risk-based capital ratio of less than 6.0% or a leverage ratio of less than 4.0%; (iv) “significantly undercapitalized” if the institution has a total risk-based capital ratio of less than 6.0%, a CET1 capital ratio less than 3%, a Tier 1 risk-based capital ratio of less than 4.0% or a leverage ratio of less than 3.0%; and (v) “critically undercapitalized” if the institution’s tangible equity is equal to or less than 2.0% of average quarterly tangible assets. An institution may be downgraded to, or deemed to be in, a capital category that is lower than indicated by its capital ratios if it is determined to be in an unsafe or unsound condition or if it receives an unsatisfactory examination rating with respect to certain matters. A bank’s capital category is determined solely for the purpose of applying prompt corrective action regulations, and the capital category may not constitute an accurate representation of the bank’s overall financial condition or prospects for other purposes.

The FDIA generally prohibits a depository institution from making any capital distributions (including payment of a dividend) or paying any management fee to its parent holding company if the depository institution would thereafter be “undercapitalized.” “Undercapitalized” institutions are subject to growth limitations and are required to submit a capital restoration plan. The agencies may not accept such a plan without determining, among other things, that the plan is based on realistic assumptions and is likely to succeed in restoring the depository institution’s capital. In addition, for a capital restoration plan to be acceptable, the depository institution’s parent holding company must guarantee that the institution will comply with such capital restoration plan and must also provide appropriate assurances of performance. The aggregate liability of the parent holding company is limited to the lesser of (i) an amount equal to 5.0% of the depository institution’s total assets at the time it became undercapitalized and (ii) the amount which is necessary (or would have been necessary) to bring the institution into compliance with all capital standards applicable with respect to such institution as of the time it fails to comply with the plan. If a depository institution fails to submit an acceptable plan, it is treated as if it is “significantly undercapitalized.”

In addition, the FDIA prohibits an insured depository institution from accepting brokered deposits or offering interest rates on any deposits significantly higher than the prevailing rate in the bank's normal market area or nationally (depending upon where the deposits are solicited), unless it is well capitalized or is adequately capitalized and receives a waiver from the FDIC. A depository institution that is adequately capitalized and accepts brokered deposits under a waiver from the FDIC may not pay an interest rate on any deposit in excess of 75 basis points over certain prevailing market rates.

“Significantly undercapitalized” depository institutions may be subject to a number of requirements and restrictions, including orders to sell sufficient voting stock to become “adequately capitalized,” requirements to reduce total assets, and cessation of receipt of deposits from correspondent banks. “Critically undercapitalized” institutions are subject to the appointment of a receiver or conservator.

The appropriate federal banking agency may, under certain circumstances, reclassify a well-capitalized insured depository institution as adequately capitalized. The FDIA provides that an institution may be reclassified if the appropriate federal banking agency determines (after notice and opportunity for hearing) that the institution is in an unsafe or unsound condition or deems the institution to be engaging in an unsafe or unsound practice.

The appropriate agency is also permitted to require an adequately capitalized or undercapitalized institution to comply with the supervisory provisions as if the institution were in the next lower category (but not treat a significantly undercapitalized institution as critically undercapitalized) based on supervisory information other than the capital levels of the institution.

First Commonwealth believes that, as of December 31, 2021, FCB was a “well-capitalized” bank as defined by the FDIA. See Note 23 “Regulatory Restrictions and Capital Adequacy” of Notes to the Consolidated Financial Statements, contained in Item 8, for a table that provides a comparison of First Commonwealth’s and FCB’s risk-based capital ratios and the leverage ratio to minimum regulatory requirements.

The Volcker Rule

The Dodd-Frank Act prohibits banks and their affiliates from engaging in proprietary trading and investing in and sponsoring hedge funds and private equity funds (so called "covered funds"). The statutory provision is commonly called the “Volcker Rule.” Banks with less than $10 billion in total consolidated assets, such as FCB, are exempt from the Volker Rule.

Depositor Preference

Under federal law, depositors (including the FDIC with respect to the subrogated claims of insured depositors) and certain claims for administrative expenses of the FDIC as receiver would be afforded a priority over other general unsecured claims against such an institution in the liquidation or other resolution of such an institution by any receiver.

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Interchange Fees

Under the Durbin Amendment to the Dodd-Frank Act, the FRB adopted rules establishing standards for assessing whether the interchange fees that may be charged with respect to certain electronic debit transactions are “reasonable and proportional” to the costs incurred by issuers for processing such transactions. Interchange fees, or “swipe” fees, are charges that merchants pay to us and other card-issuing banks for processing electronic payment transactions. Under the final rules, the maximum permissible interchange fee is equal to no more than 21 cents plus 5 basis points of the transaction value for many types of debit interchange transactions. The FRB also adopted a rule to allow a debit card issuer to recover 1 cent per transaction for fraud prevention purposes if the issuer complies with certain fraud-related requirements required by the FRB. The FRB also has rules governing routing and exclusivity that require issuers to offer two unaffiliated networks for routing transactions on each debit or prepaid product.

The Dodd-Frank Act contained an exemption from the interchange fee cap for any debit card issuer that, together with its affiliates, has total assets of less than $10 billion as of the end of the previous calendar year. We currently qualify for this exemption. We earned approximately $28.0 million in card related interchange income during the 2021 fiscal year. If we did not qualify for this exemption, we estimate that our interchange income would decrease by $13.8 million. We would become subject to the interchange fee cap beginning July 1 of the year after the level of our total assets reaches or exceeds $10 billion.

Financial Privacy

The federal banking regulators adopted rules that limit the ability of banks and other financial institutions to disclose non-public information about consumers to nonaffiliated third parties. These limitations require disclosure of privacy policies to consumers and, in some circumstances, allow consumers to prevent disclosure of certain personal information to a nonaffiliated third party. These regulations affect how consumer information is transmitted through diversified financial companies and conveyed to outside vendors.

Anti-Money Laundering and the USA Patriot Act

A major focus of governmental policy on financial institutions in recent years has been aimed at combating money laundering and terrorist financing. The USA PATRIOT Act of 2001 (the “USA Patriot Act”) substantially broadened the scope of United States anti-money laundering laws and regulations by imposing significant new compliance and due diligence obligations, creating new crimes and penalties and expanding the extra-territorial jurisdiction of the United States. Financial institutions are also prohibited from entering into specified financial transactions and account relationships and must use enhanced due diligence procedures in their dealings with certain types of high-risk customers and implement a written customer identification program. Financial institutions must take certain steps to assist government agencies in detecting and preventing money laundering and report certain types of suspicious transactions. Regulatory authorities routinely examine financial institutions for compliance with these obligations, and failure of a financial institution to maintain and implement adequate programs to combat money laundering and terrorist financing, or to comply with all of the relevant laws or regulations, could have serious legal and reputational consequences for the institution, including causing applicable bank regulatory authorities not to approve merger or acquisition transactions when regulatory approval is required or to prohibit such transactions even if approval is not required. Regulatory authorities have imposed cease and desist orders and civil money penalties against institutions found to be violating these obligations.

Office of Foreign Assets Control Regulation

The U.S. Treasury Department’s Office of Foreign Assets Control ("OFAC") administers and enforces economic and trade sanctions against targeted foreign countries and regimes, under authority of various laws, including designated foreign countries, nationals and others. OFAC publishes lists of specially designated targets and countries. First Commonwealth is responsible for, among other things, blocking accounts of, and transactions with, such targets and countries, prohibiting unlicensed trade and financial transactions with them and reporting blocked transactions after their occurrence. Failure to comply with these sanctions could have serious legal and reputational consequences, including causing applicable bank regulatory authorities not to approve merger or acquisition transactions when regulatory approval is required or to prohibit such transactions even if approval is not required.

Cybersecurity

In March 2015, federal regulators issued two related statements regarding cybersecurity. One statement indicates that financial institutions should design multiple layers of security controls to establish lines of defense and to ensure that their risk management processes also address the risk posed by compromised customer credentials, including security measures to reliably authenticate customers accessing internet-based services of the financial institution. The other statement indicates that a financial institution’s management is expected to maintain sufficient business continuity planning processes to ensure the rapid recovery, resumption and maintenance of the institution’s operations after a cyber-attack involving destructive malware. A financial institution is also expected to develop appropriate processes to enable recovery of data and business operations and

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address rebuilding network capabilities and restoring data if the institution or its critical service providers fall victim to this type of cyber-attack. If we fail to observe the regulatory guidance, we could be subject to various regulatory sanctions, including financial penalties.

State regulators have also been increasingly active in implementing privacy and cybersecurity standards and regulations. Recently, several states have adopted regulations requiring certain financial institutions to implement cybersecurity programs and providing detailed requirements with respect to these programs, including data encryption requirements. Many states have also recently implemented or modified their data breach notification and data privacy requirements. We expect this trend of state-level activity in those areas to continue, and are continually monitoring developments in the states in which our customers are located.

In the ordinary course of business, we rely on electronic communications and information systems to conduct our operations and to store sensitive data. We employ an in-depth, layered, defensive approach that leverages people, processes and technology to manage and maintain cybersecurity controls. We employ a variety of preventative and detective tools to monitor, block, and provide alerts regarding suspicious activity, as well as to report on any suspected advanced persistent threats. Notwithstanding the strength of our defensive measures, the threat from cyber-attacks is severe, attacks are sophisticated and increasing in volume, and attackers respond rapidly to changes in defensive measures. While to date we have not experienced a significant compromise, significant data loss or any material financial losses related to cybersecurity attacks, our systems and those of our customers and third-party service providers are under constant threat and it is possible that we could experience a significant event in the future. Risks and exposures related to cybersecurity attacks are expected to remain high for the foreseeable future due to the rapidly evolving nature and sophistication of these threats, as well as due to the expanding use of internet banking, mobile banking and other technology-based products and services by us and our customers. See Item 1A. Risk Factors for a further discussion of risks related to cybersecurity.

Future Legislation and Regulation

Congress may enact legislation from time to time that affects the regulation of the financial services industry, and state legislatures may enact legislation from time to time affecting the regulation of financial institutions chartered by or operating in those states. Federal and state regulatory agencies also periodically propose and adopt changes to their regulations or change the manner in which existing regulations are applied. The substance or impact of pending or future legislation or regulation, or the application thereof, cannot be predicted, although enactment of the proposed legislation could impact the regulatory structure under which we operate and may significantly increase our costs, impede the efficiency of our internal business processes, require us to increase our regulatory capital and modify our business strategy, and limit our ability to pursue business opportunities in an efficient manner. Our business, financial condition, results of operations or prospects may be adversely affected, perhaps materially, as a result.

Availability of Financial Information

We file annual, quarterly and current reports, proxy statements and other information with the SEC. You may read and copy any document we file at the Securities and Exchange Commission’s Public Reference Room at 100 F Street, N.E., Washington, D.C. 20549. Our SEC filings are also available to the public on the SEC website at www.sec.gov and on our website at www.fcbanking.com.

We also make available on our website, www.fcbanking.com, and in print to any shareholder who requests them, our Corporate Governance Guidelines, the charters for our Audit, Risk, Compensation and Human Resources, and Governance Committees, and the Code of Conduct and Ethics that applies to all of our directors, officers and employees.

Our Chief Executive Officer has certified to the New York Stock Exchange (“NYSE”) that, as of the date of the certification, he was not aware of any violation by First Commonwealth of NYSE’s corporate governance listing standards. In addition, our Chief Executive Officer and Chief Financial Officer have made certain certifications concerning the information contained in this report pursuant to Section 302 of the Sarbanes-Oxley Act. The Section 302 certifications appear as Exhibits 31.1 and 31.2 to this annual report on Form 10-K.

ITEM 1A.    Risk Factors

An investment in our common stock is subject to risks inherent to our business. The material risks and uncertainties that management believes affect us are described below. Before making an investment decision, you should carefully consider the risks and uncertainties described below together with all of the other information included or incorporated by reference in this report. The risks and uncertainties described below are not the only ones facing us. Additional risks and uncertainties that management is not aware of or focused on or that management currently deems immaterial may also impair our business operations. This report is qualified in its entirety by these risk factors. If any of the following risks actually occur, our business,

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financial condition and results of operations could be materially and adversely affected. If this were to happen, the market price of our common stock could decline significantly, and you could lose all or part of your investment.

Risks Related To Our Business

Interest Rate Risks

We Are Subject to Interest Rate Risk

Our earnings and cash flows are largely dependent upon our net interest income. Net interest income is the difference between interest income earned on interest-earning assets such as loans and securities and interest expense paid on interest-bearing liabilities such as deposits and borrowed funds. Interest rates are highly sensitive to many factors that are beyond our control, including general economic conditions and policies of various governmental and regulatory agencies and, in particular, the Federal Open Market Committee. Changes in monetary policy, including changes in interest rates, could influence not only the interest we receive on loans and securities and the amount of interest we pay on deposits and borrowings, but such changes could also affect (i) our ability to originate loans and obtain deposits, (ii) the fair value of our financial assets and liabilities, and (iii) the average duration of our mortgage-backed securities portfolio. If the interest rates paid on deposits and other borrowings increase at a faster rate than the interest rates received on loans and other investments, our net interest income, and therefore earnings, could be adversely affected. Earnings could also be adversely affected if the interest rates received on loans and other investments fall more quickly than the interest rates paid on deposits and other borrowings. Some foreign central banks have moved to a negative interest rate environment, which has exerted downward pressure on the profitability of banks in those regions and this interest rate trend could extend to the United States. Any substantial, unexpected, or prolonged change in market interest rates could have a material adverse effect on our business, financial condition and results of operations. See Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations under the section captioned “Net Interest Income” and Item 7A. Quantitative and Qualitative Disclosures About Market Risk elsewhere in this report for further discussion related to interest rate sensitivity and our management of interest rate risk.

We May Be Adversely Impacted by the Transition from LIBOR as a Reference Rate

In 2017, the United Kingdom’s Financial Conduct Authority (“FCA”) announced that after 2021 it would no longer compel banks to submit the rates required to calculate the London Interbank Offered Rate (“LIBOR”). In November 2020, the administrator of LIBOR announced it would consult on its intention to extend the retirement date of certain offered rates, whereby the publication of the one-week and two-month U.S. Dollar LIBOR settings would cease after December 31, 2021, but the publication of the remaining U.S. Dollar LIBOR settings would continue until June 30, 2023. Given consumer protection, litigation, and reputation risks, in November 2020, following the administrator’s consultation announcement, the bank regulatory agencies indicated that entering into new contracts that use LIBOR as a reference rate after December 31, 2021 would create safety and soundness risks and that they would examine bank practices accordingly. Therefore, the agencies encouraged banks to cease entering into new contracts that use LIBOR as a reference rate as soon as practicable and in any event by December 31, 2021. On March 5, 2021, the FCA and the administrator of LIBOR confirmed that immediately after December 31, 2021, publication of the one-week and two-month U.S. Dollar LIBOR settings would cease and immediately after June 30, 2023, any remaining U.S. dollar LIBOR settings would either cease to be published or no longer be representative.

Several alternative rates have emerged as potential alternatives to or replacements of LIBOR, with varying levels of market acceptance, and with varying levels of appropriateness depending on the particular institution, counterparty, or financial instrument in question. In particular, regulators, industry groups and certain committees (e.g., the Alternative Reference Rates Committee of the New York Fed (“ARRC”)) have, among other things, published recommended fallback language for LIBOR-linked financial instruments, identified recommended alternatives for certain LIBOR rates (e.g., Secured Overnight Financial Rate ("SOFR"), American Interbank Offered Rate ("AMERIBOR"), Bloomberg Short Term Bank Yield ("BSBY")), and proposed implementations of the recommended alternatives in floating rate instruments. Market acceptance of these various potential fallback and alternative rates continues to evolve. While the ARRC has recommended SOFR as its preferred fallback rate for LIBOR-linked instruments, the bank regulatory agencies have repeatedly indicated that they do not intend to recommend a specific fallback rate for use in place of LIBOR, and that financial institutions should “use any reference rate for its loans that the bank determined to be appropriate for its funding model and customer needs.”

While we ceased originating new contracts for LIBOR-linked financial instruments prior to December 31, 2021, we have a significant number of existing loans, derivative contracts, borrowings and other financial instruments with attributes that are either directly or indirectly dependent on LIBOR, and which will need to be transitioned prior to June 30, 2023. The transition from LIBOR has resulted in and could continue to result in added costs and employee efforts and could present additional risk. Since proposed alternative rates are calculated differently, payments under contracts referencing new rates will differ from those referencing LIBOR. The transition will change our market risk profiles, requiring changes to risk and pricing models, valuation tools, product design and hedging strategies. Furthermore, failure to adequately manage this transition process with our customers could adversely impact our reputation. Although we are currently unable to assess what the ultimate impact of the transition from LIBOR will be, failure to adequately manage the transition could have a material adverse effect on our business, financial condition and results of operations.

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Credit and Lending Risks

We Are Subject to Lending Risk

There are inherent risks associated with our lending activities. These risks include, among other things, the impact of changes in interest rates and changes in the economic conditions in the markets where we operate as well as those across the United States. Increases in interest rates and/or weakening economic conditions could adversely impact the ability of borrowers to repay outstanding loans or the value of the collateral securing these loans.

We Are Subject to Risk Arising from Conditions in the Commercial Real Estate Market

As of December 31, 2021, commercial real estate mortgage loans comprised approximately 33% of our loan portfolio. Commercial real estate mortgage loans generally involve a greater degree of credit risk than residential real estate mortgage loans because they typically have larger balances and are more affected by adverse conditions in the economy. Because payments on loans secured by commercial real estate often depend upon the successful operation and management of the properties and the businesses which operate from within them, repayment of such loans may be affected by factors outside the borrower’s control, such as adverse conditions in the real estate market or the economy or changes in government regulations. In recent years, commercial real estate markets have been experiencing substantial growth, and increased competitive pressures have contributed significantly to historically low capitalization rates and rising property values. Furthermore, certain segments of the commercial real estate markets, such as office, hospitality and retail, have been particularly impacted by the economic disruption resulting from the COVID-19 pandemic. Accordingly, the federal banking regulatory agencies have expressed concerns about weaknesses in the current commercial real estate market. Failures in our risk management policies, procedures and controls could adversely affect our ability to manage this portfolio going forward and could result in an increased rate of delinquencies in, and increased losses from, this portfolio, which, accordingly, could have a material adverse effect on our business, financial condition and results of operations.

Our Allowance for Credit Losses may be Insufficient

All borrowers carry the potential to default and our remedies to recover may not fully satisfy money previously loaned. We maintain an allowance for credit losses, which represents management’s best estimate of credit losses within the existing portfolio of loans. The allowance, in the judgment of management, is appropriate to reserve for estimated loan losses and risks inherent in the loan portfolio. The level of the allowance for credit losses reflects management’s continuing evaluation of industry concentrations, specific credit risks, loan loss experience, current loan portfolio quality, present economic conditions and unidentified losses in the current loan portfolio. The determination of the appropriate level of the allowance for credit losses inherently involves a high degree of subjectivity and requires us to make significant estimates of current credit risks using existing qualitative and quantitative information, all of which may undergo material changes. Changes in economic conditions or forecasts, new information regarding existing loans, identification of additional problem loans and other factors, both within and outside of our control, may require an increase in the allowance for credit losses. In addition, bank regulatory agencies periodically review our allowance for credit losses and may require an increase in the provision for credit losses or the recognition of additional loan charge-offs, based on judgments different than those of management. An increase in the allowance for credit losses results in a decrease in net income or losses, and possibly risk-based capital, and may have a material adverse effect on our financial condition and results of operations.

Liquidity Risk

We Are Subject to Liquidity Risk

We require liquidity to meet our deposit and debt obligations as they come due. Our access to funding sources in amounts adequate to finance our activities or on terms that are acceptable to us could be impaired by factors that affect us specifically or the financial services industry or economy generally. Factors that could reduce our access to liquidity sources include a downturn in the economy, difficult credit markets or adverse regulatory actions against us. Our access to deposits may also be affected by the liquidity needs of our depositors. In particular, a substantial majority of our liabilities are demand, savings, interest checking and money market deposits, which are payable on demand or upon several days’ notice, while by comparison, a substantial portion of our assets are loans, which cannot be called or sold in the same time frame. We may not be able to replace maturing deposits and advances as necessary in the future, especially if a large number of our depositors sought to withdraw their accounts, regardless of the reason. A failure to maintain adequate liquidity could have a material adverse effect on our business, financial condition and results of operations.

Operational Risks

Labor shortages and constraints in the supply chain could adversely affect our customers’ operations as well as our operations.

Many sectors in the United States and around the world are experiencing a shortage of workers. The shortage of workers is exacerbating supply chain disruptions around the world, causing certain industries to struggle to regain momentum due to a lack of workers or materials. Our commercial customers may be impacted by the shortage of workers and constraints in the supply chain, which could adversely impact our customers’ operations. Customers may experience disruptions in their operations, which could lead to reduced cash flow and difficulty in making loan repayments. The financial services industry has also been

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affected by the shortage of workers, and First Commonwealth has experienced the intense competition for talent that is currently underway in the financial services industry. This may lead to open positions remaining unfilled for longer periods of time or a need to increase wages to attract workers. We have had to recently increase wages in certain positions to attract talent, particularly in entry-level type positions and certain specialty areas.

Our Accounting Estimates and Risk Management Processes Rely On Analytical and Forecasting Models

The processes we use to estimate our expected credit losses and to measure the fair value of financial instruments, as well as the processes used to estimate the effects of changing interest rates and other market measures on our financial condition and results of operations, depends upon the use of analytical and forecasting models. These models reflect assumptions that may not be accurate, particularly in times of market stress or other unforeseen circumstances. Even if these assumptions are adequate, the models may prove to be inadequate or inaccurate because of other flaws in their design or their implementation. If the models we use for interest rate risk and asset-liability management are inadequate, we may incur increased or unexpected losses upon changes in market interest rates or other market measures. If the models we use for estimating our expected credit losses are inadequate, the allowance for credit losses may not be sufficient to support future charge-offs. If the models we use to measure the fair value of financial instruments are inadequate, the fair value of such financial instruments may fluctuate unexpectedly or may not accurately reflect what we could realize upon sale or settlement of such financial instruments. Any such failure in our analytical or forecasting models could have a material adverse effect on our business, financial condition and results of operations.

The Value of Our Goodwill and Other Intangible Assets May Decline in the Future

As of December 31, 2021, we had $314.5 million of goodwill and other intangible assets. A significant decline in our expected future cash flows, a significant adverse change in the business climate, slower growth rates or a significant and sustained decline in the price of the Company’s common stock may necessitate taking charges in the future related to the impairment of our goodwill and other intangible assets which could have a material adverse effect on our business, financial condition and results of operations.

We Are Subject to Risk Arising from Failure or Circumvention of Our Controls and Procedures

Our internal controls, disclosure controls and procedures, and corporate governance policies and procedures are based in part on certain assumptions and can provide only reasonable, not absolute, assurances that the objectives of the system are met. Any failure or circumvention of our controls and procedures; failure to comply with regulations related to controls and procedures; or failure to comply with our corporate governance policies and procedures could have a material adverse effect on our reputation, business, financial condition and results of operations. Furthermore, notwithstanding the proliferation of technology and technology-based risk and control systems, our businesses ultimately rely on people as our greatest resource, and, from time-to-time, they make mistakes or engage in violations of applicable policies, laws, rules or procedures that are not always caught immediately by our technological processes or by our controls and other procedures, which are intended to prevent and detect such errors or violations. Human errors, malfeasance and other misconduct, including the intentional misuse of client information in connection with insider trading or for other purposes, even if promptly discovered and remediated, can result in reputational damage or legal risk and have a material adverse effect on our business, financial condition and results of operations.

New Lines of Business, Products or Services and Technological Advancements May Subject Us to Additional Risks

From time to time, we implement new lines of business or offer new products and services within existing lines of business. There are substantial risks and uncertainties associated with these efforts, particularly in instances where the markets are not fully developed. In developing and marketing new lines of business and/or new products and services we invest significant time and resources. Initial timetables for the introduction and development of new lines of business and/or new products or services may not be achieved and price and profitability targets may not prove feasible. External factors, such as compliance with regulations, competitive alternatives, and shifting market preferences, may also impact the successful implementation of a new line of business or a new product or service.

The financial services industry is continually undergoing rapid technological change with frequent introductions of new technology-driven products and services. Our future success depends, in part, upon our ability to address the needs of our customers by using technology to provide products and services that will satisfy customer demands, as well as to create additional efficiencies in our operations. Many of our competitors have substantially greater resources to invest in technological improvements. We may not be able to effectively implement new technology driven products and services or be successful in marketing these products and services to our customers. In addition, our implementation of certain new technologies, such as those related to artificial intelligence and algorithms, in our business processes may have unintended consequences due to their limitations or our failure to use them effectively. In addition, cloud technologies are also critical to the operation of our systems, and our reliance on cloud technologies is growing. Failure to successfully keep pace with technological change affecting the financial services industry could have a material adverse effect on our business, financial condition and results of operations.

Furthermore, any new line of business, new product or service and/or new technology could have a significant impact on the effectiveness of our system of internal controls. Failure to successfully manage these risks in the development and

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implementation of new lines of business, new products or services and/or new technologies could have a material adverse effect on our business, financial condition and results of operations.

Our Reputation and our Business Are Subject to Negative Publicity Risk

Reputation risk, or the risk to our earnings and capital from negative public opinion, is inherent in our business. Negative public opinion could adversely affect our ability to keep and attract customers and expose us to adverse legal and regulatory consequences. Negative public opinion could result from our actual or alleged conduct in any number of activities, including lending practices, corporate governance, regulatory compliance, mergers and acquisitions, and disclosure, sharing or inadequate protection of customer information, and from actions taken by government regulators and community organizations in response to that conduct. Negative public opinion could also result from adverse news or publicity that impairs the reputation of the financial services industry generally. In addition, our reputation or prospects may be significantly damaged by adverse publicity or negative information regarding us, whether or not true, that may be posted on social media, non-mainstream news services or other parts of the internet, and this risk is magnified by the speed and pervasiveness with which information is disseminated through those channels.

Our Business, Financial Condition and Results of Operations Are Subject to Risk from Changes in Customer Behavior

Individual, economic, political, industry-specific conditions and other factors outside of our control, such as fuel prices, energy costs, real estate values or other factors that affect customer income levels, could alter anticipated customer behavior, including borrowing, repayment, investment and deposit practices. Such a change in these practices could materially adversely affect our ability to anticipate business needs and meet regulatory requirements. Further, difficult economic conditions may negatively affect consumer confidence levels. A decrease in consumer confidence levels would likely aggravate the adverse effects of these difficult market conditions on us, our customers and others in the financial institutions industry.

First Commonwealth Relies on Dividends from its Subsidiary Bank for Most of Its Revenue

First Commonwealth is a separate and distinct legal entity from its subsidiaries. It receives substantially all of its revenues from dividends from its subsidiaries. These dividends are the principal source of funds to pay dividends on First Commonwealth’s common stock and interest and principal on First Commonwealth’s debt. Various federal and/or state laws and regulations limit the amount of dividends that FCB and certain non-bank subsidiaries may pay to First Commonwealth. In the event FCB is unable to pay dividends to First Commonwealth, First Commonwealth may not be able to service debt, pay obligations or pay dividends on its common stock. The inability to receive dividends from FCB could have a material adverse effect on First Commonwealth’s business, financial condition and results of operations.

Acts of Cyber-Crime May Compromise Client and Company Information, Disrupt Access to Our Systems or Result in Loss of Client or Company Assets.

Our business is dependent upon the availability of technology, the Internet and telecommunication systems to enable financial transactions by clients, record and monitor transactions and transmit and receive data to and from clients and third parties. Information security risks have increased significantly due to the use of online, telephone and mobile banking channels by clients and the increased sophistication and activities of organized crime, hackers, terrorists and other external parties. Our technologies, systems, networks and our clients’ devices have been subject to, and are likely to continue to be the target of, cyber-attacks, computer viruses, malicious code, phishing attacks or information security breaches that could result in the unauthorized release, gathering, monitoring, misuse, loss or destruction of our or our clients’ confidential, proprietary and other information, the theft of client assets through fraudulent transactions or disruption of our or our clients’ or other third parties’ business operations.

Even the most well protected information, networks, systems and facilities remain potentially vulnerable to attempted security breaches or disruptions because the techniques used in such attempts are constantly evolving and generally are not recognized until launched against a target, and in some cases are designed not to be detected and, in fact, may not be detected. Accordingly, we may be unable to anticipate these techniques or to implement adequate security barriers or other preventative measures, and thus it is virtually impossible for us to entirely mitigate this risk. While we maintain specific “cyber” insurance coverage, which would apply in the event of various breach scenarios, the amount of coverage may not be adequate in any particular case. Furthermore, because cyber threat scenarios are inherently difficult to predict and can take many forms, some breaches may not be covered under our cyber insurance coverage. A security breach or other significant disruption of our information systems or those related to our customers, merchants or our third party vendors, including as a result of cyber attacks, could (i) disrupt the proper functioning of our networks and systems and therefore our operations and/or those of certain of our customers; (ii) result in the unauthorized access to, and destruction, loss, theft, misappropriation or release of confidential, sensitive or otherwise valuable information of ours or our customers; (iii) result in a violation of applicable privacy, data breach and other laws, subjecting us to additional regulatory scrutiny and exposing us to civil litigation, governmental fines and possible financial liability; (iv) require significant management attention and resources to remedy the damages that result; or (v) harm our reputation or cause a decrease in the number of customers that choose to do business with us. The occurrence of any of the foregoing could have a material adverse effect on our business, financial condition and results of operations.

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Our Operations Rely On Certain External Vendors

We rely on certain vendors to provide products and services necessary to maintain the day-to-day operations of First Commonwealth and FCB. In particular, we contracted with an external vendor for our core processing system used to maintain customer and account records, reflect account transactions and activity, and support our customer relationship management systems for substantially all of our deposit and loan customers. Accordingly, our operations are exposed to risk that these vendors will not perform in accordance with the contracted arrangements under service level agreements. The failure of an external vendor to perform in accordance with the contracted arrangements under service level agreements, because of changes in the vendor’s organizational structure, financial condition, support for existing products and services or strategic focus or for any other reason, could be disruptive to First Commonwealth’s operations and financial reporting, which could have a material adverse effect on First Commonwealth’s business and, in turn, First Commonwealth’s financial condition and results of operations.

In addition, our operations are exposed to risk that these vendors will not perform in accordance with the contracted arrangements under service level agreements. Although we have selected these external vendors carefully, we do not control their actions. The failure of an external vendor to perform in accordance with the contracted arrangements under service level agreements, because of changes in the vendor’s organizational structure, financial condition, support for existing products and services or strategic focus or for any other reason, could be disruptive to our operations, which could have a material adverse effect on our business and, in turn, our financial condition and results of operations. Replacing these external vendors could also entail significant delay and expense.

We Depend on the Accuracy and Completeness of Information About Customers and Counterparties

In deciding whether to extend credit or enter into other transactions, we rely on information furnished by or on behalf of customers and counterparties, including financial statements, credit reports and other financial information. We also rely on representations of those customers, counterparties or other third parties, such as independent auditors, as to the accuracy and completeness of that information. Reliance on inaccurate or misleading financial statements, credit reports or other financial information could have a material adverse impact on our business, financial condition and results of operations.

External and Market-Related Risks

We are Subject to Risk Arising from The Soundness of Other Financial Institutions and Counterparties

Financial services institutions are interrelated as a result of trading, clearing, counterparty, or other relationships. We have exposure to many different industries and counterparties, and routinely execute transactions with counterparties in the financial services industry, including commercial banks, brokers and dealers, investment banks, and other institutional clients. Many of these transactions expose us to credit risk in the event of a default by a counterparty or client. In addition, our credit risk may be exacerbated when the collateral held by us cannot be realized upon or is liquidated at prices not sufficient to recover the full amount of the credit or derivative exposure due to us. Any such losses could have a material adverse effect on our business, financial condition and results of operations.

Competition from Other Financial Institutions in Originating Loans, Attracting Deposits and Providing Various Financial Services May Adversely Affect Our Profitability.

We face substantial competition in originating loans and attracting deposits. This competition comes principally from other banks, savings institutions, mortgage banking companies and credit unions, as well as institutions offering uninsured investment alternatives, including money market funds. Many of our competitors enjoy advantages, including greater financial resources and higher lending limits, better brand recognition, a wider geographic presence, more accessible branch office locations, the ability to offer a wider array of services or more favorable pricing alternatives, as well as lower origination and operating costs. These competitors may offer more favorable pricing through lower interest rates on loans or higher interest rates on deposits, which could force us to match competitive rates and thereby reduce our net interest income.

Compliance and Regulatory Risks

We are Subject to Extensive Government Regulation and Supervision

Banking regulations are primarily intended to protect depositors’ funds, federal deposit insurance funds and the banking system as a whole, not security holders. These regulations affect our lending practices, capital structure, investment practices, dividend policy and growth, among other things. Congress and federal regulatory agencies continually review banking laws, regulations and policies for possible changes. Changes to statutes, regulations or regulatory policies, including changes in interpretation or implementation of statutes, regulations or policies, could affect us in substantial and unpredictable ways. Such changes could subject us to additional costs, limit the types of financial services and products we may offer and/or increase the ability of non-banks to offer competing financial services and products, among other things. Failure to comply with laws, regulations, policies or supervisory guidance could result in enforcement and other legal actions by Federal or state authorities, including criminal and civil penalties, the loss of FDIC insurance, the revocation of a banking charter, other sanctions by regulatory agencies, civil money penalties and/or reputational damage. In this regard, government authorities, including the bank regulatory agencies, are

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pursuing aggressive enforcement actions with respect to compliance and other legal matters involving financial activities, which heightens the risks associated with actual and perceived compliance failures. See “Supervision and Regulation” included in Item 1. Business for a more detailed description of the regulatory requirements applicable to First Commonwealth.

Risks Related to Acquisition Activity

Potential Acquisitions May Disrupt Our Business and Dilute Stockholder Value

We generally seek merger or acquisition partners that are culturally similar and have experienced management and possess either significant market presence or have potential for improved profitability through financial management, economies of scale or expanded services. Acquiring other banks, businesses, or branches involves various risks commonly associated with acquisitions, including, among other things, (i) potential exposure to unknown or contingent liabilities of the target company; (ii) exposure to potential asset quality issues of the target company; (iii) potential disruption to our business; (iv) potential diversion of our management’s time and attention; (v) the possible loss of key employees and customers of the target company; (vi) difficulty in estimating the value of the target company; and (vii) potential changes in banking or tax laws or regulations that may affect the target company.

Acquisitions typically involve the payment of a premium over book and market values, and, therefore, some dilution of our tangible book value and net income per common share may occur in connection with any future transaction. Furthermore, failure to realize the expected revenue increases, cost savings, increases in geographic or product presence, and/or other projected benefits from an acquisition could have a material adverse effect on our business, financial condition and results of operations.

Acquisitions May Be Delayed, Impeded, or Prohibited Due to Regulatory Issues

Acquisitions by financial institutions, including us, are subject to approval by a variety of federal and state regulatory agencies (collectively, “regulatory approvals”). The process for obtaining these required regulatory approvals has become substantially more difficult since the global financial crisis, and our ability to engage in certain merger or acquisition transactions depends on the bank regulators' views at the time as to our capital levels, quality of management, and overall condition, in addition to their assessment of a variety of other factors, including our compliance with law. Regulatory approvals could be delayed, impeded, restrictively conditioned or denied due to existing or new regulatory issues we have, or may have, with regulatory agencies, including, without limitation, issues related to Bank Secrecy Act compliance, Community Reinvestment Act issues, fair lending laws, fair housing laws, consumer protection laws, unfair, deceptive, or abusive acts or practices regulations and other laws and regulations. We may fail to pursue, evaluate or complete strategic and competitively significant acquisition opportunities as a result of our inability, or perceived or anticipated inability, to obtain regulatory approvals in a timely manner, under reasonable conditions or at all. Difficulties associated with potential acquisitions that may result from these factors could have a material adverse effect on our business, financial condition and results of operations.

Risks Associated with Our Common Stock

The Trading Volume in Our Common Stock Is Less Than That of Other Larger Financial Services Companies

Although First Commonwealth’s common stock is listed for trading on the NYSE, the trading volume in its common stock is less than that of other, larger financial services companies. A public trading market having the desired characteristics of depth, liquidity and orderliness depends on the presence in the marketplace of willing buyers and sellers of First Commonwealth’s common stock at any given time. This presence depends on the individual decisions of investors and general economic and market conditions over which we have no control. Given the lower trading volume of First Commonwealth’s common stock, significant sales of First Commonwealth’s common stock, or the expectation of these sales, could cause First Commonwealth’s stock price to fall.

First Commonwealth May Not Continue to Pay Dividends on Its Common Stock in The Future

Holders of First Commonwealth common stock are only entitled to receive such dividends as its board of directors may declare out of funds legally available for such payments. Although First Commonwealth has historically declared cash dividends on its common stock, it is not required to do so and may reduce or eliminate its common stock dividend in the future. This could adversely affect the market price of First Commonwealth’s common stock. Also, First Commonwealth is a bank holding company, and its ability to declare and pay dividends is dependent on certain federal regulatory considerations, including the guidelines of the FRB regarding capital adequacy and dividends.

As more fully discussed in Part II, Item 8, Financial Statements and Supplementary Data-Note 23, Regulatory Restrictions and Capital Adequacy, which is located elsewhere in this report, the ability of First Commonwealth to declare or pay dividends on its common stock may also be subject to certain restrictions in the event that First Commonwealth elects to defer the payment of interest on its junior subordinated debt securities.

An Investment in Our Common Stock Is Not an Insured Deposit

Our common stock is not a bank deposit and, therefore, is not insured against loss by the Federal Deposit Insurance Corporation (FDIC), any other deposit insurance fund or by any other public or private entity. Investment in our common stock is inherently

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risky for the reasons described in this “Risk Factors” section and elsewhere in this report and is subject to the same market forces that affect the price of common stock in any company. As a result, if you acquire our common stock, you could lose some or all of your investment.

Provisions of Our Articles of Incorporation, Bylaws and Pennsylvania Law, as Well as State and Federal Banking Regulations, Could Delay or Prevent a Takeover of Us by a Third Party.

Provisions in our articles of incorporation and bylaws, the corporate law of the Commonwealth of Pennsylvania, and state and federal regulations could delay, defer or prevent a third party from acquiring us, despite the possible benefit to our shareholders, or otherwise adversely affect the price of our common stock. These provisions include, among other things, advance notice requirements for proposing matters that shareholders may act on at shareholder meetings. In addition, under Pennsylvania law, we are prohibited from engaging in a business combination with any interested shareholder for a period of five years from the date the person became an interested shareholder unless certain conditions are met. These provisions may discourage potential takeover attempts, discourage bids for our common stock at a premium over market price or adversely affect the market price of, and the voting and other rights of the holders of, our common stock.

Risks Related to the COVID-19 Pandemic

Our Business, Financial Condition, Liquidity and Results of Operations May Be Adversely Affected by the COVID-19 Pandemic.

The COVID-19 pandemic created economic and financial disruptions that adversely affected our business, financial condition, liquidity and results of operations. While the pandemic-related restrictions imposed by state and local governments have largely been lifted, COVID-19 continues to disrupt business and negatively impact consumer and business confidence. The extent to which the COVID-19 pandemic will continue to negatively affect our business, financial condition, liquidity and results of operations will depend on future developments, which are highly uncertain and cannot be predicted and many of which are outside of our control, including the scope and duration of the pandemic, the effectiveness of our business continuity and health emergency response plans, the direct and indirect impact of the pandemic on our employees, customers, clients, counterparties and service providers, as well as other market participants, and actions taken, or that may yet be taken, or inaction, by governmental authorities and other third parties in response to the pandemic. Any disruption to our ability to deliver financial products or services to, or interact with, our clients and customers could result in losses or increased operational costs, regulatory fines, penalties and other sanctions, or harm our reputation.

General Risk Factors

We are Subject to Risk from Fluctuating Conditions in the Financial Markets and Economic and Political Conditions Generally

Our success depends, to a certain extent, upon local, national and global economic and political conditions, as well as governmental monetary policies. Our financial performance generally, and in particular the ability of borrowers to pay interest on and repay principal of outstanding loans and the value of collateral securing those loans, as well as demand for loans and other products and services we offer, is highly dependent upon the business environment in the markets where we operate and in the United States as a whole. A favorable business environment is generally characterized by, among other factors, economic growth, efficient capital markets, low inflation, low unemployment, high business and investor confidence, and strong business earnings. Unfavorable or uncertain economic and market conditions can be caused by a decline in economic growth both in the U.S. and internationally; declines in business activity or investor or business confidence; limitations on the availability of or increases in the cost of credit and capital; increases in inflation or interest rates; high unemployment; oil price volatility; natural disasters; trade policies and tariffs; or a combination of these or other factors. While recent economic conditions in the United States and worldwide have seen improving trends since the onset of the COVID-19 pandemic, there can be no assurance that this improvement will continue. Economic pressure on consumers and uncertainty regarding continuing economic improvement could result in changes in consumer and business spending, borrowing and savings habits. Such conditions could have a material adverse effect on the credit quality of our loans and our business, financial condition and results of operations.

Changes in The Federal, State or Local Tax Laws May Negatively Impact Our Financial Performance and We Are Subject to Examinations and Challenges by Tax Authorities

We are subject to federal and applicable state tax laws and regulations. Changes in these tax laws and regulations, some of which may be retroactive to previous periods, could increase our effective tax rates and, as a result, could negatively affect our current and future financial performance. Furthermore, tax laws and regulations are often complex and require interpretation. In the normal course of business, we are routinely subject to examinations and challenges from federal and applicable state tax authorities regarding the amount of taxes due in connection with investments we have made and the businesses in which we have engaged. Recently, federal and state taxing authorities have become increasingly aggressive in challenging tax positions taken by financial institutions. These tax positions may relate to tax compliance, sales and use, franchise, gross receipts, payroll, property and income tax issues, including tax base, apportionment and tax credit planning. The challenges made by tax authorities may result in adjustments to the timing or amount of taxable income or deductions or the allocation of income among tax jurisdictions. If any such challenges are made and are not resolved in our favor, they could have a material adverse effect on our business, financial condition and results of operations.

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We May Need to Raise Additional Capital in The Future, and Such Capital May Not Be Available When Needed or at All

We may need to raise additional capital in the future to provide us with sufficient capital resources and liquidity to meet our commitments and business needs, particularly if our asset quality or earnings were to deteriorate significantly. Our ability to raise additional capital, if needed, will depend on, among other things, conditions in the capital markets at that time, which are outside of our control, and our financial condition. Economic conditions and the loss of confidence in financial institutions may increase our cost of funding and limit access to certain customary sources of capital, including inter-bank borrowings, repurchase agreements and borrowings from the discount window of the Federal Reserve.

We cannot assure that such capital will be available on acceptable terms or at all. Any occurrence that may limit our access to the capital markets, such as a decline in the confidence of debt purchasers, depositors of FCB or counterparties participating in the capital markets, or a downgrade of First Commonwealth’s or FCB’s debt ratings, may adversely affect our capital costs and our ability to raise capital and, in turn, our liquidity. Moreover, if we need to raise capital in the future, we may have to do so when many other financial institutions are also seeking to raise capital and would have to compete with those institutions for investors. An inability to raise additional capital on acceptable terms when needed could have a materially adverse effect on our business, financial condition and results of operations.

Our Stock Price Can Be Volatile

Stock price volatility may make it more difficult for you to resell your common stock when you want and at prices you find attractive. Our stock price can fluctuate significantly in response to a variety of factors including, among other things, (i) actual or anticipated variations in quarterly results of operations; (ii) recommendations by securities analysts; (iii) operating and stock price performance of other companies that investors deem comparable to us; (iv) news reports relating to trends, concerns and other issues in the financial services industry; (v) perceptions in the marketplace regarding us and/or our competitors; (vi) new technology used, or services offered, by competitors; (vii) the issuance by us of additional securities, including common stock and securities that are convertible into or exchangeable for, or that represent the right to receive, common stock; (viii) sales of a large block of shares of our common stock or similar securities in the market after an equity offering, or the perception that such sales could occur; (ix) significant acquisitions or business combinations, strategic partnerships, joint ventures or capital commitments by or involving us or our competitors; (x) failure to integrate acquisitions or realize anticipated benefits from acquisitions; (xi) changes in government regulations; and (xii) geopolitical conditions such as acts or threats of terrorism or military conflicts.

General market fluctuations, including real or anticipated changes in the strength of the economy; industry factors and general economic and political conditions and events, such as economic slowdowns or recessions; and interest rate changes, oil price volatility or credit loss trends could also cause our stock price to decrease regardless of operating results.

Changes in Accounting Standards Could Materially Impact Our Financial Statements

From time to time accounting standards setters change the financial accounting and reporting standards that govern the preparation of our financial statements. These changes can be difficult to predict and can materially impact how we record and report our financial condition and results of operations. In some cases, we could be required to apply a new or revised standard retroactively, resulting in changes to previously reported financial results or a cumulative charge to retained earnings. See New Accounting Pronouncements at the end of Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations elsewhere in this report for further information regarding pending accounting standards updates.

We May Not Be Able to Attract and Retain Skilled People

Our success depends, in large part, on our ability to attract and retain key people. Competition for the best people in many activities engaged in by us is intense and we may not be able to hire people or to retain them. We do not currently have employment agreements or non-competition agreements with any of our senior officers. The unexpected loss of services of key personnel could have a material adverse impact on our business, financial condition and results of operations because of their customer relationships, skills, knowledge of our market, years of industry experience and the difficulty of promptly finding qualified replacement personnel. In addition, the scope and content of U.S. banking regulators' policies on incentive compensation, as well as changes to these policies, could adversely affect our ability to hire, retain and motivate our key employees.

ITEM 1B.    Unresolved Staff Comments

None.

ITEM 2.    Properties

Our principal office is located in the old Indiana County courthouse complex, consisting of the former courthouse building and the former sheriff’s residence and jail building for Indiana County. This certified Pennsylvania and national historic landmark was built in 1870 and restored by us in the early 1970s. We lease the complex from Indiana County pursuant to a lease agreement that was originally signed in 1973 and has a current term that expires in 2048.

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The majority of our administrative personnel are also located in two owned buildings in Indiana, Pennsylvania, each of which is in close proximity to our principal office.

First Commonwealth Bank has 118 community banking offices, of which 44 are leased and 74 are owned. We also lease two mortgage loan production offices and four corporate loan production offices.

While these facilities are adequate to meet our current needs, available space is limited and additional facilities may be required to support future expansion. However, we have no significant plans to lease, purchase or construct additional administrative facilities.

ITEM 3.    Legal Proceedings

The information required by this Item is set forth in Part II, Item 8, Note 20, “Contingent Liabilities,” which is incorporated herein by reference in response to this item.

ITEM 4.    Mine Safety Disclosures

Not applicable.

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Executive Officers of First Commonwealth Financial Corporation

The name, age and principal occupation for each of the executive officers of First Commonwealth Financial Corporation as of December 31, 2021 is set forth below:

Jane Grebenc, age 63, has served as Executive Vice President and Chief Revenue Officer of First Commonwealth Financial Corporation and President of First Commonwealth Bank since May 31, 2013. Ms. Grebenc's financial services career includes executive leadership roles at a variety of institutions, including Park View Federal Savings Bank, Key Bank, and National City Bank. She was formerly the Executive Vice President in charge of the retail, marketing, IT and operations and the mortgage segments at Park View Federal Savings Bank from 2009 until 2012, the Executive Vice President in charge of the Wealth Segment at Key Bank from 2007 until 2009 and the Executive Vice President / Branch Network at National City Bank prior to 2007.

Brian Karrip, age 61, has served as Executive Vice President and Chief Credit Officer of First Commonwealth Bank since September 2016.  Prior to joining First Commonwealth, Mr. Karrip served as Executive Vice President, Specialized Lending for FirstMerit Bank.  Prior to joining FirstMerit Bank, Mr. Karrip served as Managing Director and Group Head of Loan Syndications and Sales at KeyBanc Capital Markets.  Mr. Karrip’s financial services career also includes 16 years with National City Bank where he held a variety of roles in the commercial lending division and served as Regional President of Michigan and Illinois.

Leonard V. Lombardi, age 62, has served as Executive Vice President and Chief Audit Executive of First Commonwealth Financial Corporation since January 1, 2009. He was formerly Senior Vice President / Loan Review and Audit Manager.

Norman J. Montgomery, age 54, has served as the Executive Vice President of Business Integration of First Commonwealth Bank since May 2011. He oversees First Commonwealth’s product development and assumed oversight of First Commonwealth’s technology and operations functions in July 2012. He served as Senior Vice President/Business Integration of First Commonwealth Bank from September 2007 until May 2011 and previously held positions in the technology, operations, audit and marketing areas.

T. Michael Price, age 59, has served as President and Chief Executive Officer of First Commonwealth Financial Corporation and Chief Executive Officer of First Commonwealth Bank since March 2012. Mr. Price served as President of First Commonwealth Bank from November 2007 to May 2013. From January 1, 2012 to March 7, 2012, he served as Interim President and Chief Executive Officer of First Commonwealth Financial Corporation. He was formerly Chief Executive Officer of the Cincinnati and Northern Kentucky Region of National City Bank from July 2004 to November 2007 and Executive Vice President and Head of Small Business Banking of National City Bank prior to July 2004.

James R. Reske, age 58, joined First Commonwealth Financial Corporation as Executive Vice President, Chief Financial Officer and Treasurer on April 28, 2014. Prior to joining First Commonwealth, Mr. Reske served as Executive Vice President, Chief Financial Officer, and Treasurer at United Community Financial Corporation in Youngstown, Ohio from 2008 until April 2014. Mr. Reske's financial services career includes investment banking roles within the Financial Institutions Groups at Keybanc Capital Markets, Inc. in Cleveland, Ohio and at Morgan Stanley & Company in New York. Mr. Reske also provided expertise and counsel to financial institutions and other organizations on mergers and acquisitions and capital markets activities as an attorney at Wachtell, Lipton, Rosen & Katz, as well as at Sullivan & Cromwell. Earlier in his career, Mr. Reske worked at the Board of Governors of the Federal Reserve System in Washington, DC and at the Federal Reserve Bank of Boston.

Carrie L. Riggle, age 52, has served as Executive Vice President / Human Resources since March 1, 2013. Ms. Riggle has been with First Commonwealth for 30 years. Over the course of her tenure, Ms. Riggle has been responsible for the daily operations of the Human Resources function and was actively involved in the establishment and development of a centralized corporate human resources function within the Company.

Matthew C. Tomb, age 45, has served as Executive Vice President, Chief Risk Officer and General Counsel of First Commonwealth Financial Corporation since November 2010. He previously served as Senior Vice President / Legal and Compliance since September 2007. Before joining First Commonwealth, Mr. Tomb practiced law with Sherman & Howard L.L.C. in Denver, Colorado.

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PART II

ITEM 5.    Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchase of Equity Securities

First Commonwealth is listed on the NYSE under the symbol “FCF.” As of December 31, 2021, there were approximately 5,518 holders of record of First Commonwealth’s common stock. The table below sets forth the high and low sales prices per share and cash dividends declared per share for common stock of First Commonwealth for each quarter during the last two fiscal years.

Period	High Sale		Low Sale		Cash Dividends Per Share
2021
First Quarter	$	15.51	$	10.88	$	0.110
Second Quarter	15.54		13.77		0.115
Third Quarter	14.08		12.45		0.115
Fourth Quarter	16.16		13.99		0.115

Period	High Sale		Low Sale		Cash Dividends Per Share
2020
First Quarter	$	14.62	$	8.20	$	0.110
Second Quarter	9.98		7.07		0.110
Third Quarter	8.75		7.16		0.110
Fourth Quarter	10.94		7.82		0.110

Federal and state regulations contain restrictions on the ability of First Commonwealth to pay dividends. For information regarding restrictions on dividends, see Part I, Item 1 “Business—Supervision and Regulation—Dividends” and Part II, Item 8, “Financial Statements and Supplementary Data—Note 23, Regulatory Restrictions and Capital Adequacy.” In addition, under the terms of the capital securities issued by First Commonwealth Capital Trust II and III, First Commonwealth could not pay dividends on its common stock if First Commonwealth deferred payments on the junior subordinated debt securities that provide the cash flow for the payments on the capital securities.

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The following five-year performance graph compares the cumulative total shareholder return (assuming reinvestment of dividends) on First Commonwealth’s common stock to the S&P U.S. BMI Banks Index and the Russell 2000 Index. The S&P U.S. BMI Banks Index replaced the SNL U.S. Bank Index, which was used in prior years, because the SNL U.S. Bank index has been discontinued. The stock performance graph assumes $100 was invested on December 31, 2016, and the cumulative return is measured as of each subsequent fiscal year end.

	Period Ending
Index	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021
First Commonwealth Financial Corporation	100.00	103.40	89.30	110.43	87.36	132.73
Russell 2000 Index	100.00	114.65	102.02	128.06	153.62	176.39
S&P U.S. BMI Banks Index	100.00	118.21	98.75	135.64	118.33	160.89

Unregistered Sales of Equity Securities and Use of Proceeds

The following table details the amount of shares repurchased during the fourth quarter of 2021.

Month Ending:	Total Number of Shares  Purchased	Average Price Paid per  Share (or Unit)		Total Number of Shares  Purchased as Part of Publicly Announced Plans or Programs	Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs
October 31, 2021	62,803	$	13.96	62,803	2,248,073
November 30, 2021	384,100	15.60		384,100	1,889,853
December 31, 2021	553,570	15.25		553,570	1,240,850
Total	1,000,473	$	15.30	1,000,473

For additional information, please see Part III, Item 12, "Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters." Information called for by this item concerning security ownership of certain beneficial owners and security ownership of management will be included in the Proxy Statement under the headings “Stock Ownership of Certain Beneficial Owners” and “Stock Ownership of Directors and Management,” and is incorporated herein by reference.

ITEM 6.    [Reserved]

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ITEM 7.    Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis represents an overview of the financial condition and the results of operations of First Commonwealth, and its subsidiaries, as of and for the years ended December 31, 2021, and 2020. The purpose of this discussion is to focus on information concerning our financial condition and results of operations that is not readily apparent from the Consolidated Financial Statements. In order to obtain a more thorough understanding of this discussion, you should refer to the Consolidated Financial Statements, the notes thereto and other financial information presented in this Annual Report. Refer to Management's Discussion and Analysis of Financial Condition and Results of Operations included in our Annual Report on Form 10-K filed with the SEC on March 1, 2021 for a discussion and analysis of the factors that affected periods prior to 2020.

Company Overview

First Commonwealth provides a diversified array of consumer and commercial banking services through our bank subsidiary, FCB. We also provide trust and wealth management services through FCB and insurance products through FCIA. At December 31, 2021, FCB operated 118 community banking offices throughout western and central Pennsylvania and northeastern, central and southwestern Ohio, as well as loan production offices in Pittsburgh, Pennsylvania, and Cleveland, Columbus, Canton, Lewis Center, Hudson and Westlake, Ohio.

Our consumer services include Internet, mobile and telephone banking, an automated teller machine network, personal checking accounts, interest-earning checking accounts, savings accounts, health savings accounts, insured money market accounts, debit cards, investment certificates, fixed and variable rate certificates of deposit, mortgage loans, secured and unsecured installment loans, construction and real estate loans, safe deposit facilities, credit cards, credit lines with overdraft checking protection and IRA accounts. Commercial banking services include commercial lending, small and high-volume business checking accounts, on-line account management services, ACH origination, payroll direct deposit, commercial cash management services and repurchase agreements. We also provide a variety of trust and asset management services and a full complement of auto, home and business insurance as well as term life insurance. We offer annuities, mutual funds and stock and bond brokerage services through an arrangement with a broker-dealer and insurance brokers. Most of our commercial customers are small and mid-sized businesses in Pennsylvania and Ohio.

As a financial institution with a focus on traditional banking activities, we earn the majority of our revenue through net interest income, which is the difference between interest earned on loans and investments and interest paid on deposits and borrowings. Growth in net interest income is dependent upon balance sheet growth and maintaining or increasing our net interest margin, which is net interest income (on a fully taxable-equivalent basis) as a percentage of our average interest-earning assets. We also generate revenue through fees earned on various services and products that we offer to our customers and, less frequently, through sales of assets, such as loans, investments or properties. These revenue sources are offset by provisions for credit losses on loans, operating expenses, income taxes and, less frequently, loss on sale or other-than-temporary impairments on investment securities.

General economic conditions also affect our business by impacting our customers’ need for financing, thus affecting loan growth, as well as impacting the credit strength of existing and potential borrowers.

Critical Accounting Policies and Significant Accounting Estimates

First Commonwealth’s accounting and reporting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) and predominant practice in the banking industry. The preparation of financial statements in accordance with GAAP requires management to make estimates, assumptions and judgments that affect the amounts reported in the financial statements and accompanying notes. Over time, these estimates, assumptions and judgments may prove to be inaccurate or vary from actual results and may significantly affect our reported results and financial position for the period presented or in future periods. We currently view the determination of the allowance for credit losses to be critical because it is highly dependent on subjective or complex judgments, assumptions and estimates made by management.

Allowance for Credit Losses

We account for the credit risk associated with our lending activities through the allowance and provision for credit losses. The allowance represents management’s best estimate of expected losses in our existing loan portfolio as of the balance sheet date. The provision is a periodic charge to earnings in an amount necessary to maintain the allowance at a level that is appropriate

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based on management’s assessment of expected losses. Management determines and reviews with the Board of Directors the appropriateness of the allowance on a quarterly basis in accordance with the methodology described below.

•Loans are segmented into groups with similar characteristics and risks and an allowance for credit losses is calculated for each segment based on the estimate of credit losses.

•The allowance for credit losses is calculated by pooling loans of similar credit risk characteristics and applying a discounted cash flow methodology after incorporating probability of default and loss given default estimates. Probability of default represents an estimate of the likelihood of default and loss given default measures the expected loss upon default. Inputs impacting the expected losses includes a forecast of macroeconomic factors, using a weighted forecast from a nationally recognized firm.

•Loans that do not have the same risks and characteristics of the loan pools are individually reviewed. These are generally large balance commercial loans and commercial mortgages that are rated less than “satisfactory” based on our internal credit-rating process.

•We assess whether the loans identified for review are “nonperforming,”. This means it is expected that all amounts will not be collected according to the contractual terms of the loan agreement, which generally represents loans that management has placed on nonaccrual status and accruing troubled debt restructurings.

•For individually analyzed loans we calculate the estimated fair value of the loans that are selected for review based on observable market prices, discounted cash flows or the value of the underlying collateral and record an allowance if needed.

•We then review the results to determine the appropriate balance of the allowance for credit losses. This review includes consideration of additional factors, such as the mix of loans in the portfolio, the balance of the allowance relative to total loans and nonperforming assets, trends in the overall risk profile in the portfolio, trends in delinquencies and nonaccrual loans, and local and national economic information and industry data, including trends in the industries we believe are higher risk.

There are many factors affecting the allowance for credit losses; some are quantitative, while others require qualitative judgment. These factors require the use of estimates related to the amount and timing of expected future cash flows, appraised values on nonperforming loans, estimated losses for each loan category based on historical loss experience, forecasts of economic trends and conditions, all of which may be susceptible to significant judgment and change. To the extent that actual outcomes differ from estimates, additional provisions for credit losses could be required that could adversely affect our earnings or financial position in future periods.

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Selected Financial Information

The following table provides selected financial information for the periods ended December 31,

	2021			2020			2019			2018			2017
	(dollars in thousands, except share data)
Interest income	$	293,838		$	301,209		$	325,264		$	292,257		$	250,550
Interest expense	15,297			32,938			55,402			40,035			21,770
Net interest income	278,541			268,271			269,862			252,222			228,780
Provision for credit losses	(1,376)			56,718			14,533			12,531			5,087
Net interest income after provision for credit losses	279,917			211,553			255,329			239,691			223,693
Net securities gains (losses)	16			70			22			8,102			5,040
Other income	106,741			94,406			85,463			80,535			75,291
Other expenses	213,857			215,826			209,965			195,556			200,298
Income before income taxes	172,817			90,203			130,849			132,772			103,726
Income tax provision	34,560			16,756			25,516			25,274			48,561
Net Income	$	138,257		$	73,447		$	105,333		$	107,498		$	55,165
Per Share Data—Basic
Net Income	$	1.45		$	0.75		$	1.07		$	1.09		$	0.58
Dividends declared	$	0.455		$	0.440		$	0.400		$	0.350		$	0.320
Average shares outstanding	95,583,890			97,499,586			98,317,787			99,036,163			95,220,056
Per Share Data—Diluted
Net Income	$	1.44		$	0.75		$	1.07		$	1.08		$	0.58
Average shares outstanding	95,840,285			97,758,965			98,588,164			99,223,513			95,331,037
At End of Period
Total assets	$	9,545,093		$	9,068,104		$	8,308,773		$	7,828,255		$	7,308,539
Investment securities	1,595,529			1,205,294			1,256,176			1,335,228			1,183,291
Loans and leases, net of unearned income	6,839,230			6,761,183			6,189,148			5,774,139			5,407,376
Allowance for credit losses	92,522			101,309			51,637			47,764			48,298
Deposits	7,982,498			7,438,666			6,677,615			5,897,992			5,580,705
Short-term borrowings	138,315			117,373			201,853			721,823			707,466
Subordinated debentures	170,775			170,612			170,450			170,288			72,167
Other long-term debt	5,573			56,258			56,917			7,551			8,161
Shareholders’ equity	1,109,372			1,068,617			1,055,665			975,389			888,127
Key Ratios
Return on average assets	1.47		%	0.82		%	1.31		%	1.42		%	0.77		%
Return on average equity	12.55			6.82			10.32			11.41			6.45
Net loans to deposits ratio	84.52			89.53			91.91			97.09			96.03
Dividends per share as a percent of net income per share	31.38			58.67			37.38			32.11			55.17
Average equity to average assets ratio	11.72			12.00			12.71			12.47			11.86

Results for 2021 and 2020 reflect accounting for the allowance for credit losses under the current expected credit loss methodology, while results prior to 2020 reflect accounting under the incurred methodology.

Results of Operations—2021 Compared to 2020

Net Income

Net income for 2021 was $138.3 million, or $1.44 per diluted share, as compared to net income of $73.4 million, or $0.75 per diluted share in 2020. The increase in net income was the result of a $58.1 million decline in provision for credit losses and an increase of $10.3 million and $12.3 million in net interest income and noninterest income, respectively.

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Our return on average equity was 12.6% and our return on average assets was 1.47% for 2021, compared to 6.8% and 0.82%, respectively, for 2020.

Average diluted shares for the year 2021 were 2% less than the comparable period in 2020 primarily due to $31.3 million of common stock buybacks completed during 2021.

Net Interest Income

Net interest income, which is our primary source of revenue, is the difference between interest income from earning assets (loans and securities) and interest expense paid on liabilities (deposits, short-term borrowings and long-term debt). The amount of net interest income is affected by both changes in the level of interest rates and the amount and composition of interest-earning assets and interest-bearing liabilities. The net interest margin is expressed as the percentage of net interest income, on a fully taxable equivalent basis, to average interest-earning assets. To compare the tax exempt asset yields to taxable yields, amounts are adjusted to the pretax equivalent amounts based on the marginal corporate federal income tax rate of 21%. The taxable equivalent adjustment to net interest income for 2021 was $1.1 million compared to $1.5 million in 2020. Net interest income comprises a majority of our operating revenue (net interest income before provision expense plus noninterest income) at 72% and 74% for the years ended December 31, 2021 and 2020, respectively.

Net interest income, on a fully taxable equivalent basis, was $279.6 million for the year-ended December 31, 2021, a $9.9 million, or 4%, increase compared to $269.7 million for the same period in 2020. The net interest margin, on a fully taxable equivalent basis, decreased 6 basis points to 3.26% in 2021 from 3.32% in 2020. The net interest margin is affected by both changes in the level of interest rates and the amount and composition of interest-earning assets and interest-bearing liabilities.

The impact of growth in interest-earning assets in 2021 was offset by the effect of the mix of the asset growth and lower interest rates, resulting in a decrease in the net interest margin for the year ended December 31, 2021. Average earning assets for the year ended December 31, 2021 increased $458.5 million, or 6%, compared to the year ended December 31, 2020. The change in the volume of interest-earning assets and interest-bearing liabilities positively increased net interest income by $12.2 million in the year ended December 31, 2021 compared to the same period in 2020, while changes in rates negatively impacted net interest income by $2.3 million. Interest-sensitive assets totaling $4.6 billion will either reprice or mature over the next twelve months.

The taxable equivalent yield on interest-earning assets was 3.43% for the year ended December 31, 2021, a decrease of 29 basis points from the 3.72% yield for the same period in 2020. This change is primarily due to a decrease in the yield on our adjustable and variable rate commercial loan portfolios, which decreased by 56 basis points largely due to loans repricing in a lower interest rate environment after the Federal Reserve decreased short-term interest rates by 150 basis points in the first quarter of 2020. Also contributing to this decline was the yield on the investment portfolio, which decreased by 41 basis points compared to the prior year.

The loan yield for the year ended December 31, 2021 decreased 14 basis points and was impacted by $312.7 million in average Paycheck Protection Program ("PPP") loans outstanding during the period. These loans were originated under the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") and had a stated loan rate of 1% and a yield of 7.4% and 3.2% for the years ended December 31, 2021 and December 31, 2020, respectively. The yield on PPP loans includes the recognition of PPP loan deferred processing fees, net of deferred origination costs, of $19.9 million for the year ended December 31, 2021 and $8.4 million for the year ended December 31, 2020. These amounts are recognized in interest income as a yield adjustment over the life of the loan with accelerated recognition when a loan is forgiven or paid off. As of December 31, 2021, we expect to recognize additional PPP-related deferred processing fees, net of origination costs, of approximately $2.6 million as an adjustment to yield over the remaining life of the loans. At December 31, 2021, the balance of PPP loans outstanding totaled $71.3 million. PPP loans generated $23.2 million in income during the year ended December 31, 2021 and increased both the yield on total loans and the net interest margin by 16 basis points. During the year ended December 31, 2020, PPP loans generated $12.1 million in income decreasing the loan portfolio yield by 6 basis points and the net interest margin by 1 basis point. During the year ended December 31, 2021, the Company originated $255.8 million in new PPP loans and processed forgiveness on $764.0 million of PPP loans.

The investment portfolio yield decreased 41 basis points in comparison to the prior year as a result of the decrease in short-term interest rates. Investment portfolio purchases during the year ended December 31, 2021 have been primarily in obligations of U.S. government agencies, obligations of other government-sponsored enterprises and obligations of states and political subdivisions with durations of approximately four to five years and corporate bonds with a duration of nine years. Additionally, as a result of excess liquidity caused by significant growth in deposits, the average balance of interest-bearing deposits with banks has increased from $179.2 million in 2020 to $317.5 million in 2021. The impact of the level and rate paid on interest-bearing deposits with banks decreased the yield on interest-earnings assets by 13 basis points for the year ended December 31, 2021.

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Decreases in the cost of interest-bearing liabilities offset the negative impact of lower yields on interest-earning assets. The cost of interest-bearing liabilities was 0.27% for the year-ended December 31, 2021, compared to 0.58% for the same period in 2020. Lower market interest rates resulted in the cost of interest-bearing deposits decreasing 31 basis points and short-term borrowings decreasing 41 basis points in comparison to the same period in the prior year. Deposit growth contributed to a decline in average short-term borrowings of $22.8 million for the year ended December 31, 2021 compared to the same period in 2020. Average long-term debt decreased $32.7 million, while the cost of long-term debt increased by 31 basis points due to the maturity of lower costing borrowings.

Comparing the year ended December 31, 2021 with the same period in 2020, changes in rates negatively impacted net interest income by $2.3 million. The lower yield on interest-earning assets decreased net interest income by $15.3 million, while the decrease in the cost of interest-bearing liabilities positively impacted net interest income by $13.1 million.

Changes in the volume of interest-earning assets and interest-bearing liabilities positively increased net interest income by $12.2 million in the year ended December 31, 2021 compared to the same period in 2020. Higher levels of interest-earning assets resulted in an increase of $7.6 million in interest income, and changes in the volume of interest-bearing liabilities decreased interest expense by $4.6 million, primarily due to decreases in long-term borrowings and time deposits.

Positively affecting net interest income was a $531.5 million increase in average net free funds at December 31, 2021 as compared to December 31, 2020. Average net free funds are the excess of noninterest-bearing demand deposits, other noninterest-bearing liabilities and shareholders’ equity over noninterest-earning assets. The largest component of the increase in net free funds was a $479.0 million increase in average noninterest-bearing demand deposits primarily due to deposit growth related to PPP loan proceeds. Average time deposits for the year ended December 31, 2021 decreased $277.3 million, or 38%, compared to the comparable period in 2020, while the average rate paid on time deposits decreased 91 basis points. Over the next twelve months, $276.0 million in certificates of deposits are scheduled to mature.

The following table reconciles interest income in the Consolidated Statements of Income to net interest income adjusted to a fully taxable equivalent basis for the periods presented:

	For the Years Ended December 31,
	2021		2020		2019
	(dollars in thousands)
Interest income per Consolidated Statements of Income	$	293,838	$	301,209	$	325,264
Adjustment to fully taxable equivalent basis	1,100		1,462		1,748
Interest income adjusted to fully taxable equivalent basis (non-GAAP)	294,938		302,671		327,012
Interest expense	15,297		32,938		55,402
Net interest income adjusted to fully taxable equivalent basis (non-GAAP)	$	279,641	$	269,733	$	271,610

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The following table provides information regarding the average balances and yields or rates on interest-earning assets and interest-bearing liabilities for the periods ended December 31:

	Average Balance Sheets and Net Interest Analysis
	2021						2020						2019
	Average Balance		Income / Expense (a)		Yield or Rate		Average Balance		Income / Expense (a)		Yield or Rate		Average Balance		Income / Expense (a)		Yield or Rate
	(dollars in thousands)
Assets
Interest-earning assets:
Interest-bearing deposits with banks	$	317,493	$	400	0.13	%	$	179,180	$	218	0.12	%	$	15,778	$	403	2.55	%
Tax-free investment securities	28,139		753		2.68		44,308		1,333		3.01		65,345		2,014		3.08
Taxable investment securities	1,463,785		25,244		1.72		1,167,316		24,749		2.12		1,180,698		31,381		2.66
Loans, net of unearned income (b)(c)(e)	6,777,192		268,541		3.96		6,737,339		276,371		4.10		5,987,398		293,214		4.90
Total interest-earning assets	8,586,609		294,938		3.43		8,128,143		302,671		3.72		7,249,219		327,012		4.51
Noninterest-earning assets:
Cash	94,949						97,632						93,953
Allowance for credit losses	(101,399)						(76,705)						(51,274)
Other assets	813,905						825,510						738,154
Total noninterest-earning assets	807,455						846,437						780,833
Total Assets	$	9,394,064					$	8,974,580					$	8,030,052
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Interest-bearing demand deposits (d)	$	1,529,697	$	434	0.03	%	$	1,525,195	$	1,843	0.12	%	$	1,293,588	$	7,025	0.54	%
Savings deposits (d)	3,282,307		3,111		0.09		3,027,016		9,966		0.33		2,597,674		15,180		0.58
Time deposits	449,452		2,204		0.49		726,702		10,163		1.40		864,056		14,520		1.68
Short-term borrowings	119,801		99		0.08		142,634		704		0.49		391,547		8,298		2.12
Long-term debt	200,961		9,449		4.70		233,701		10,262		4.39		216,383		10,379		4.80
Total interest-bearing liabilities	5,582,218		15,297		0.27		5,655,248		32,938		0.58		5,363,248		55,402		1.03
Noninterest-bearing liabilities and shareholders’ equity:
Noninterest-bearing demand deposits (d)	2,580,460						2,101,412						1,549,507
Other liabilities	130,007						140,612						96,896
Shareholders’ equity	1,101,379						1,077,308						1,020,401
Total noninterest-bearing funding sources	3,811,846						3,319,332						2,666,804
Total Liabilities and Shareholders’ Equity	$	9,394,064					$	8,974,580					$	8,030,052
Net Interest Income and Net Yield on Interest-Earning Assets			$	279,641	3.26	%			$	269,733	3.32	%			$	271,610	3.75	%

(a)Income on interest-earning assets has been computed on a fully taxable equivalent basis using the federal income tax statutory rate of 21%.

(b)Income on nonaccrual loans is accounted for on the cash basis, and the loan balances are included in interest-earning assets.

(c)Loan income includes loan fees.

(d)Average balances do not include reallocations from noninterest-bearing demand deposits and interest-bearing demand deposits into savings deposits which were made for regulatory purposes.

(e)Includes held for sale loans.

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The following table sets forth certain information regarding changes in net interest income attributable to changes in the volume of interest-earning assets and interest-bearing liabilities and changes in the rates for the periods indicated:

	Analysis of Year-to-Year Changes in Net Interest Income
	2021 Change from 2020						2020 Change from 2019
	Total Change		Change Due To Volume		Change Due To Rate (a)		Total Change		Change Due To Volume		Change Due To Rate (a)
	(dollars in thousands)
Interest-earning assets:
Interest-bearing deposits with banks	$	182	$	166	$	16	$	(185)	$	4,167	$	(4,352)
Tax-free investment securities	(580)		(487)		(93)		(681)		(648)		(33)
Taxable investment securities	495		6,285		(5,790)		(6,632)		(356)		(6,276)
Loans	(7,830)		1,634		(9,464)		(16,843)		36,747		(53,590)
Total interest income (b)	(7,733)		7,598		(15,331)		(24,341)		39,910		(64,251)
Interest-bearing liabilities:
Interest-bearing demand deposits	(1,409)		5		(1,414)		(5,182)		1,251		(6,433)
Savings deposits	(6,855)		842		(7,697)		(5,214)		2,490		(7,704)
Time deposits	(7,959)		(3,882)		(4,077)		(4,357)		(2,308)		(2,049)
Short-term borrowings	(605)		(112)		(493)		(7,594)		(5,277)		(2,317)
Long-term debt	(813)		(1,437)		624		(117)		831		(948)
Total interest expense	(17,641)		(4,584)		(13,057)		(22,464)		(3,013)		(19,451)
Net interest income	$	9,908	$	12,182	$	(2,274)	$	(1,877)	$	42,923	$	(44,800)

(a)Changes in interest income or expense not arising solely as a result of volume or rate variances are allocated to rate variances.

(b)Changes in interest income have been computed on a fully taxable equivalent basis using the 21% federal income tax statutory rate.

Provision for Credit Losses

The provision for credit losses is determined based on management’s estimates of the appropriate level of the allowance for credit losses needed to provide for expected losses inherent in the loan portfolio and on off-balance sheet commitments. The provision for credit losses is an amount added to the allowance against which credit losses are charged.

The provision is a result of management's estimate of credit losses over the contractual life of the loan portfolio. The change in the allowance for credit is impacted by estimated expected losses in the portfolio determined by a discounted cash flow analysis considering inputs such as contractual payment schedules, prepayment estimates, historical loss experience, calculated probability of default and loss given default estimates and forecasts for certain macroeconomic variables, such as unemployment, gross domestic product and the housing price index as well as other macroeconomic variables.

The provision for credit losses for loans for 2021 totaled a $0.4 million negative provision, a decrease of $53.8 million, or 100.7%, compared to 2020. The level of provision expense for the year-ended December 31, 2021 is primarily a result of an improved economic forecast, which reflects a decline in the impact of the COVID-19 pandemic on the economy and expected loan losses. The provision for credit losses was also impacted by a decrease of $4.5 million in reserves on individually analyzed loans. Contributing to the decline in provision for credit losses was a $4.2 million decrease in expense related to lower reserves for off-balance sheet commitments.

Provision expense for the commercial, financial, agricultural and other category was impacted by net charge-offs of $4.6 million, offset by a decrease in outstanding balances, excluding PPP loans. Because PPP loans are fully guaranteed by the Small Business Administration ("SBA"), there is no allowance for credit losses recognized for these loans. Provision expense for real estate construction and residential real estate can be attributed to improved economic factors. Provision expense for the commercial real estate category is a result of $1.5 million in net charge-offs offset by a $4.9 million decrease in general reserves due to improved economic factors as well as a $3.5 million decrease in specific reserves. Net charge-offs related to loans to individuals were $2.6 million for the year ended December 31, 2021, including $0.8 million for indirect auto loans and $1.5 million related to other consumer loans. The provision expense for loans to individuals was also impacted by growth in the portfolio of $184.2 million.

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The table below provides a breakout of the provision for credit losses by loan category for the years ended December 31: 

	2021				2020
	Dollars		Percentage		Dollars		Percentage
	(dollars in thousands)
Commercial, financial, agricultural and other	$	5,496	(1,458)	%	$	1,479	3	%
Time and demand	5,441		(1,443)		1,515		3
Commercial credit cards	55		(15)		(36)		—
Real estate construction	(3,892)		1,032		4,820		9
Residential real estate	(1,892)		502		3,615		7
Residential first liens	(737)		196		847		2
Residential junior liens/home equity	(1,155)		306		2,768		5
Commercial real estate	(7,053)		1,871		27,019		50
Multifamily	(2,678)		710		4,593		9
Nonowner occupied	(2,145)		569		20,588		38
Owner occupied	(2,230)		592		1,838		3
Loans to individuals	6,964		(1,847)		16,539		31
Automobile	6,035		(1,601)		13,236		25
Consumer credit cards	215		(57)		973		2
Consumer other	714		(189)		2,330		4
Provision for credit losses on loans	$	(377)	100	%	$	53,472	100	%
Provision for off-balance sheet credit exposure	(999)				3,246
Total provision for credit losses	$	(1,376)			$	56,718

The level of provision expense for the year-ended December 31, 2020 totaled $53.5 million and primarily was a result of $17.2 million in net charge-offs and an increase in the allowance for credit losses resulting from the implementation of CECL. The expected loss methodology uses an economic forecast which at December 31, 2020 incorporated uncertainty and risks related to the COVID-19 pandemic.

The allowance for credit losses was $92.5 million, or 1.35%, of total loans outstanding at December 31, 2021, compared to $101.3 million, or 1.50%, at December 31, 2020. Nonperforming loans as a percentage of total loans increased slightly to 0.81% at December 31, 2021 from 0.80% at December 31, 2020. The allowance to nonperforming loan ratio was 167.7% as of December 31, 2021 and 187.4% at December 31, 2020. Net charge-offs were $8.4 million for the year-ended December 31, 2021 compared to $17.2 million for the same period in 2020.

Upon adoption of CECL at January 1, 2020, the provision for credit losses on off-balance sheet credit exposures are recorded as part of the provision for credit losses instead of a component of non-interest expense as it previously was recorded. The provision for credit losses recorded for off-balance sheet credit exposures totaled a negative provision of $1.0 million for the year ended December 31, 2021 and provision expense of $3.2 million for the year ended December 31, 2020.

Management believes that the allowance for credit losses is at a level deemed appropriate to absorb expected losses inherent in the loan portfolio at December 31, 2021.

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A detailed analysis of our credit loss experience for the previous five years is shown below:

	2021			2020			2019			2018			2017
	(dollars in thousands)
Loans outstanding at end of year	$	6,839,230		$	6,761,183		$	6,189,148		$	5,774,139		$	5,407,376
Average loans outstanding	$	6,777,192		$	6,737,339		$	5,987,398		$	5,582,651		$	5,278,511
Balance, beginning of year	$	101,309		$	51,637		$	47,764		$	48,298		$	50,185
Adoption of accounting standard - ASU 2016-13	—			13,393			—			—			—
Loans charged off:
Commercial, financial, agricultural and other	7,020			6,318			3,393			5,294			6,634
Real estate construction	9			—			—			—			—
Residential real estate	309			1,040			1,042			1,313			1,287
Commercial real estate	1,659			4,939			2,008			3,930			340
Loans to individuals	4,061			6,953			5,831			4,576			4,248
Total loans charged off	13,058			19,250			12,274			15,113			12,509
Recoveries of loans previously charged off:
Commercial, financial, agricultural and other	2,430			314			326			788			3,901
Real estate construction	155			26			158			141			470
Residential real estate	468			414			315			361			371
Commercial real estate	135			312			189			153			278
Loans to individuals	1,460			991			626			605			515
Total recoveries	4,648			2,057			1,614			2,048			5,535
Net charge-offs	8,410			17,193			10,660			13,065			6,974
Provision charged to expense	(377)			53,472			14,533			12,531			5,087
Balance, end of year	$	92,522		$	101,309		$	51,637		$	47,764		$	48,298
Ratios:
Net charge-offs as a percentage of average loans outstanding	0.12		%	0.26		%	0.18		%	0.23		%	0.13		%
Allowance for credit losses as a percentage of end-of-period loans outstanding	1.35		%	1.50		%	0.83		%	0.83		%	0.89		%
Allowance for credit losses as a percentage of end-of-period loans outstanding, excluding PPP loans	1.37		%	1.61		%	0.83		%	0.83		%	0.89		%

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Noninterest Income

The components of noninterest income for each year in the three-year period ended December 31 are as follows: 

							2021 compared to 2020
	2021		2020		2019		$ Change		% Change
	(dollars in thousands)
Noninterest Income:
Trust income	$	11,111	$	9,101	$	8,321	$	2,010	22	%
Service charges on deposit accounts	17,984		16,387		18,926		1,597		10
Insurance and retail brokerage commissions	8,502		7,850		7,583		652		8
Income from bank owned life insurance	6,433		6,552		6,002		(119)		(2)
Card related interchange income	27,954		23,966		21,677		3,988		17
Swap fee income	2,543		1,588		3,397		955		60
Other income	8,185		7,892		7,268		293		4
Subtotal	82,712		73,336		73,174		9,376		13
Net securities gains	16		70		22		(54)		(77)
Gain on sale of mortgage loans	13,555		18,764		7,765		(5,209)		(28)
Gain on sale of other loans and assets	8,130		4,827		4,793		3,303		68
Derivative mark to market	2,344		(2,521)		(269)		4,865		(193)
Total noninterest income	$	106,757	$	94,476	$	85,485	$	12,281	13	%

Noninterest income, excluding net securities gains, gain on sale of mortgage loans, gain on sale of other loans and assets and the derivatives mark to market, increased $9.4 million, or 13%, in 2021. Card related interchange income increased $4.0 million due to growth in customer accounts and transactions and trust income increased $2.0 million due to growth in assets under management. Service charges on deposit accounts increased $1.6 million as customer activity began to return to pre-COVID levels and swap fee income increased $1.0 million due to an increase in interest rate swaps entered into for our commercial customers.

Total noninterest income increased $12.3 million, or 13%, in comparison to the year ended December 31, 2020. The most significant change, other than the changes noted above, includes a $4.9 million increase in the mark to market adjustment on interest rate swaps entered into for our commercial customers. This adjustment does not reflect a realized gain on the swaps, but rather relates to a change in fair value due to movements in corporate bond spreads and swap rates as well as changes in counterparty credit risk. Gain on sale of other loans and assets increased $3.3 million due to an increase in the sale of other loans, primarily SBA loans, in comparison to the prior year. Partially offsetting these increases is a decrease of $5.2 million in gain on sale of mortgage loans due to a decline in volume and spread received on mortgage loans sold.

If the Company's total assets would equal or exceed $10 billion we would no longer qualify for exemption from the interchange fee cap included in the Dodd-Frank Act. We estimate the application of the interchange fee cap would have decreased interchange income by approximately $13.8 million in 2021.

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Noninterest Expense

The components of noninterest expense for each year in the three-year period ended December 31 are as follows: 

							2021 compared to 2020
	2021		2020		2019		$ Change		% Change
	(dollars in thousands)
Noninterest Expense:
Salaries and employee benefits	$	119,506	$	118,961	$	112,237	$	545	—	%
Net occupancy	16,586		17,647		18,923		(1,061)		(6)
Furniture and equipment	15,642		15,393		15,160		249		2
Data processing	12,373		10,543		10,692		1,830		17
Advertising and promotion	4,983		4,679		4,250		304		6
Pennsylvania shares tax	4,604		4,500		4,602		104		2
Intangible amortization	3,497		3,689		3,344		(192)		(5)
Other professional fees and services	4,501		3,886		4,631		615		16
FDIC insurance	2,529		2,699		1,219		(170)		(6)
Other operating expenses	26,663		24,770		27,960		1,893		8
Subtotal	210,884		206,767		203,018		4,117		2
Loss on sale or write-down of assets	303		680		1,724		(377)		(55)
Litigation and operational losses	2,324		1,411		1,687		913		65
Merger and acquisition related	—		—		3,536		—		—
COVID-19 expense	449		874		—		(425)		(49)
Early retirement	—		3,422		—		(3,422)		(100)
Branch consolidation	(103)		2,672		—		(2,775)		(104)
Total noninterest expense	$	213,857	$	215,826	$	209,965	$	(1,969)	(1)	%

Total noninterest expense decreased $2.0 million, or 1%, compared to the year ended December 31, 2020. Contributing to the decline in expense is the recognition in 2020 of $3.4 million in voluntary early retirement expense and $2.7 million in branch consolidation expense. There was no similar activity during the year ended December 31, 2021. Also contributing to the decrease in noninterest expense is a $1.1 million decline in net occupancy expense resulting from savings related to the branch consolidation efforts in 2020 more than offsetting increases in this expense.

Offsetting these decreases is an increase of $1.9 million in other operating expenses resulting from a $1.2 million credit in unfunded commitment expense recognized in 2020, with no similar credit in 2021. As a result of the adoption of CECL, the unfunded commitment expense is now recorded as part of provision for credit losses. Data processing expense increased $1.8 million due to updates to our digital banking product offerings.

Income Tax

The provision for income taxes of $34.6 million in 2021 reflects an increase of $17.8 million compared to the provision for income taxes in 2020, as a result of a $82.6 million increase in the level of income before taxes.

The effective tax rate was 20.0% and 18.6% for tax expense in 2021 and 2020, respectively. We ordinarily generate an annual effective tax rate that is less than the statutory rate due to benefits resulting from tax-exempt interest, income from bank owned life insurance, and tax benefits associated with low income housing tax credits, all of which are relatively consistent regardless of the level of pretax income.

Financial Condition

First Commonwealth’s total assets increased $477.0 million as of December 31, 2021 compared to December 31, 2020. Loans, including loans held for sale, increased $63.2 million, or 1%, and investment securities increased $389.6 million, or 33%. Loan growth in 2021 was impacted by a decrease of $407.6 million in PPP loans as a result of SBA forgiveness and payments. As of December 31, 2021 outstanding PPP loans totaled $71.3 million compared to $478.9 million at December 31, 2020. The increase in investment securities can be attributed to the liquidity provided from the decline in PPP loans as well as increases in noninterest-bearing deposits of $338.8 million, or 15%, and interest-bearing deposits of $205.0 million, or 4%.

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During 2021, approximately $554.6 million in investment securities were sold, called or matured. Most of these securities were higher yielding securities in comparison to the total portfolio yield and, as such, their replacement contributed to the decrease in the yield earned on the portfolio. In total, $21.6 million in agency securities, $994.4 million in mortgage-backed securities, $3.2 million in municipal securities, $19.2 million in corporate securities and $0.2 million in other securities were purchased in 2021 in order to invest excess liquidity and help replace runoff from the portfolio while maintaining a reduced risk profile.

First Commonwealth’s total liabilities increased $436.2 million, or 5%, in 2021. Deposits increased $543.8 million, or 7%. The increase in deposits is a result of elevated customer balances from PPP loan proceeds and the deposit of Federal Stimulus checks. Short-term borrowings decreased $20.9 million, or 18%, largely due to maturities and additional liquidity provided from the increase in deposits.

Total shareholders' equity increased $40.8 million in 2021. Growth in shareholders' equity was the result of net income of $138.3 million partially offset by a $26.0 million decrease in accumulated other comprehensive income, $43.6 million in dividends declared and $31.3 million in stock repurchases.

Loan Portfolio

Following is a summary of our loan portfolio as of December 31:

	2021				2020				2019				2018				2017
	Amount		%		Amount		%		Amount		%		Amount		%		Amount		%
	(dollars in thousands)
Commercial, financial, agricultural and other	$	1,173,452	17	%	$	1,555,986	23	%	$	1,241,853	20	%	$	1,138,473	20	%	$	1,163,383	22	%
Real estate construction	494,456		7		427,221		6		449,039		7		358,978		6		248,868		5
Residential real estate	1,920,250		28		1,750,592		26		1,681,362		27		1,562,405		27		1,426,370		26
Commercial real estate	2,251,097		33		2,211,569		33		2,117,519		34		2,123,544		37		2,019,096		37
Loans to individuals	999,975		15		815,815		12		699,375		12		590,739		10		549,659		10
Total loans	$	6,839,230	100	%	$	6,761,183	100	%	$	6,189,148	100	%	$	5,774,139	100	%	$	5,407,376	100	%

The loan portfolio totaled $6.8 billion as of December 31, 2021, reflecting growth of $78.0 million, or 1%, compared to December 31, 2020. All categories experienced loan growth, except for commercial, financial, agricultural and other.

Commercial, financial, agricultural and other loans decreased $382.5 million, or 25%, as a result of a $407.6 million decline in PPP loans due to SBA forgiveness and payments. These loans carry a fixed rate of 1.00% and yielded 7.4% in 2021 after considering origination fees and costs recognized over the life of the loan or accelerated recognition at payoff or forgiveness.

Residential real estate loans increased $169.7 million, or 10%, primarily due to originations of first lien closed-end 1-4 family mortgage loans. Growth in the loans to individuals category of $184.2 million, or 23%, was the result of growth in indirect auto loans.

The majority of our loan portfolio is with borrowers located in the state of Pennsylvania. The Company also has a portion of its loan portfolio in Ohio as a result of four recent acquisitions in that state. As of December 31, 2021 and 2020, there were no concentrations of loans relating to any industry in excess of 10% of total loans.

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Final loan maturities and rate sensitivities of the loan portfolio excluding consumer installment and mortgage loans at December 31, 2021 were as follows:

	Within One Year		One to 5 Years		After 5 Years		Total
	(dollars in thousands)
Commercial, financial, agricultural and other	$	172,585	$	611,872	$	388,337	$	1,172,794
Real estate construction (a)	139,911		165,755		77,477		383,143
Commercial real estate	294,475		861,406		1,096,619		2,252,500
Other	5,380		20,042		120,672		146,094
Totals	$	612,351	$	1,659,075	$	1,683,105	$	3,954,531
Loans at fixed interest rates			318,758		253,313
Loans at variable interest rates			1,340,317		1,429,792
Totals			$	1,659,075	$	1,683,105

(a)The maturities of real estate construction loans include term commitments that follow the construction period. Loans with these term commitments will be moved to the commercial real estate category when the construction phase of the project is completed.

First Commonwealth has a legal lending limit of $156.3 million to any one borrower or closely related group of borrowers, but has established lower thresholds for credit risk management.

Nonperforming Loans

Nonperforming loans include nonaccrual loans and restructured loans. Nonaccrual loans represent loans on which interest accruals have been discontinued. Restructured loans are those loans whose terms have been renegotiated to provide a reduction or deferral of principal or interest as a result of the deteriorating financial position of the borrower under terms not available in the market.

We discontinue interest accruals on a loan when, based on current information and events, it is probable that we will be unable to fully collect principal or interest due according to the contractual terms of the loan. Consumer loans are placed in nonaccrual status at 150 days past due.  Other types of loans are typically placed in nonaccrual status when there is evidence of a significantly weakened financial condition or principal and interest is 90 days or more delinquent. Interest received on a nonaccrual loan is normally applied as a reduction to loan principal rather than interest income utilizing the cost recovery methodology of revenue recognition.

Nonperforming loans are closely monitored on an ongoing basis as part of our loan review and work-out process. The estimated credit loss on these loans is evaluated by comparing the loan balance to the fair value of any underlying collateral and the present value of projected future cash flows. Losses are recognized when a loss is expected and the amount is reasonably estimable.

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The following is a comparison of nonperforming assets and the effects on interest due to nonaccrual loans for the period ended December 31:

	2021			2020			2019			2018			2017
	(dollars in thousands)
Nonperforming Loans:
Loans on nonaccrual basis	$	34,926		$	30,801		$	18,638		$	11,509		$	19,455
Loans held for sale on nonaccrual basis	—			13			—			—			—
Troubled debt restructured loans on nonaccrual basis	13,134			14,740			6,037			11,761			11,222
Troubled debt restructured loans on accrual basis	7,120			8,512			7,542			8,757			11,563
Total nonperforming loans	$	55,180		$	54,066		$	32,217		$	32,027		$	42,240
Loans past due in excess of 90 days and still accruing	$	1,606		$	1,523		$	2,073		$	1,582		$	1,854
Other real estate owned	$	642		$	1,215		$	2,228		$	3,935		$	2,765
Loans outstanding at end of period	$	6,839,230		$	6,761,183		$	6,189,148		$	5,774,139		$	5,407,376
Average loans outstanding	$	6,777,192		$	6,737,339		$	5,987,398		$	5,582,651		$	5,278,511
Nonperforming loans as a percentage of total loans	0.81		%	0.80		%	0.52		%	0.55		%	0.78		%
Provision for credit losses on loans	$	(377)		$	53,472		$	14,533		$	12,531		$	5,087
Allowance for credit losses	$	92,522		$	101,309		$	51,637		$	47,764		$	48,298
Net charge-offs	$	8,410		$	17,193		$	10,660		$	13,065		$	6,974
Net charge-offs as a percentage of average loans outstanding	0.12		%	0.26		%	0.18		%	0.23		%	0.13		%
Provision for credit losses on loans as a percentage of net charge-offs	(4.48)		%	311.01		%	136.33		%	95.91		%	72.94		%
Allowance for credit losses as a percentage of end-of-period loans outstanding (a)	1.35		%	1.50		%	0.83		%	0.83		%	0.89		%
Allowance for credit losses as a percentage of end-of-period loans outstanding, excluding PPP loans (a)	1.37		%	1.61		%	0.83		%	0.83		%	0.89		%
Allowance for credit losses as a percentage of nonperforming loans (a)	167.67		%	187.43		%	160.28		%	149.14		%	114.34		%
Gross income that would have been recorded at original rates	$	3,503		$	3,733		$	1,860		$	1,428		$	2,079
Interest that was reflected in income	569			297			262			256			783
Net reduction to interest income due to nonaccrual	$	2,934		$	3,436		$	1,598		$	1,172		$	1,296

(a)End of period loans and nonperforming loans exclude loans held for sale.

Nonperforming loans increased $1.1 million to $55.2 million at December 31, 2021, compared to $54.1 million at December 31, 2020. Nonperforming loans as a percentage of total loans increased to 0.81% from 0.80% at December 31, 2021 compared to December 31, 2020.

Also included in nonperforming loans are TDRs, which are those loans whose terms have been renegotiated to provide a reduction or deferral of principal or interest as a result of the deteriorating financial position of the borrower under terms not available in the market. TDRs decreased $3.0 million during 2021. For additional information on TDRs please refer to Note 8 “Loans and Allowance for Credit Losses.”

In March 2020, the Company began offering short-term loan modifications to assist borrowers during the COVID-19 national

emergency. These modifications typically provide for the deferral of both principal and interest for 90 days. The CARES Act,

along with a joint agency statement issued by banking regulators, provides that modifications meeting certain criteria made in

response to COVID-19 do not need to be accounted for as a TDR. As of December 31, 2020 the Company has granted

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approximately 6,800 deferrals to its customers with aggregate principal balances of $1.4 billion. As of December 31, 2021, the balance of loans in deferral status had fallen to $6.2 million.

Net charge-offs were $8.4 million in 2021 compared to $17.2 million for the year 2020. The most significant credit losses recognized during the year include $5.3 million in charge-offs recognized on two commercial, financial, agricultural and other relationships and a $1.4 million charge-off recognized on a commercial real estate relationship. Net charge-offs in the loans to individuals category totaled $2.6 million for 2021, primarily due to charge-offs of indirect auto loans. Additional detail on credit risk is included in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” under “Provision for Credit Losses,” “Allowance for Credit Losses" and "Credit Risk.”

Provision for credit losses on loans as a percentage of net charge-offs decreased to a negative 4.5% for the year ended December 31, 2021 from 311.0% for the year ended December 31, 2020. This change is primarily due to the implementation of CECL and the uncertainty and risks of the COVID-19 pandemic on the economy and the economic forecast in the year ended December 31, 2020.

Allowance for Credit Losses

Following is a summary of the allocation of the allowance for credit losses at December 31:

	2021					2020					2019					2018					2017
	Allowance Amount			% (a)		Allowance Amount			% (a)		Allowance Amount			% (a)		Allowance Amount			% (a)		Allowance Amount			% (a)
	(dollars in thousands)
Commercial, financial, agricultural and other	$	18,093		17	%	$	17,187		23	%	$	20,234		20	%	$	19,374		20	%	$	23,429		22	%
Real estate construction	4,220			7		7,966			6		2,558			7		2,002			6		1,349			5
Residential real estate	12,625			28		14,358			26		4,093			27		3,969			27		2,759			26
Commercial real estate	33,376			33		41,953			33		19,768			34		18,386			37		17,357			37
Loans to individuals	24,208			15		19,845			12		4,984			12		4,033			10		3,404			10
Total	$	92,522				$	101,309				$	51,637				$	47,764				$	48,298
Allowance for credit losses as percentage of end-of-period loans outstanding	1.35		%			1.50		%			0.83		%			0.83		%			0.89		%
Allowance for credit losses as a percentage of end-of-period loans outstanding, excluding PPP loans	1.37		%			1.61		%			0.83		%			0.83		%			0.89		%

(a)Represents the ratio of loans in each category to total loans.

On March 27, 2020, the CARES Act was signed into law, providing banking organizations with optional, temporary relief

from complying with CECL. The Company elected to defer its adoption of CECL until the fourth quarter 2020. At the end of the deferral period, CECL was adopted effective January 1, 2020, therefore December 31, 2020 results reflect a full years impact of accounting for the allowance for credit losses under CECL.

The allowance for credit losses decreased $8.8 million from December 31, 2020 to December 31, 2021. The allowance for credit losses as a percentage of end-of-period loans outstanding was 1.35% at December 31, 2021. The decrease compared to December 31, 2020 is primarily due to improved economic forecasts, reflecting a decline in the expected impact of COVID-19 pandemic on the economy during 2021. The increased level of the allowance for credit losses at December 31, 2021 and 2020, compared to prior years is a result of calculating the allowance in those years in accordance with CECL, which provides for expected losses over the life of a loan. Prior years allowance for credit losses was calculated to provide for credit losses as they were incurred. The allowance for credit losses includes both a general reserve for performing loans and reserves for individually analyzed loans. Comparing December 31, 2021 to December 31, 2020, the general reserve for performing loans is 1.36% and 1.43%, respectively, of total performing loans for both periods. Reserves for individually analyzed loans decreased from 9.1% of nonperforming loans at December 31, 2020 to 0.7% of nonperforming loans at December 31, 2021. The allowance for credit losses as a percentage of nonperforming loans was 167.7% and 187.4% at December 31, 2021 and 2020, respectively.

The allowance for credit losses represents management’s estimate of expected losses in the loan portfolio at a specific point in time. This estimate includes losses associated with specifically identified loans, as well as estimated credit losses inherent in the remainder of the loan portfolio. Additions are made to the allowance through both periodic provisions charged to income and recoveries of losses previously incurred. Reductions to the allowance occur as loans are charged off. Management evaluates the

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appropriateness of the allowance at least quarterly, and in doing so relies on various factors including, but not limited to, assessment of historical loss experience, contractual payment schedules, prepayment estimates, calculated probability of default and loss given default estimates and forecasts of certain macroeconomic variables, such as unemployment, gross domestic product, housing price index as well as other macroeconomic variables. This evaluation is subjective and requires material estimates that may change over time. For a description of the methodology used to calculate the allowance for credit losses, please refer to “Critical Accounting Policies and Significant Accounting Estimates—Allowance for Credit Losses for Loans.”

Investment Portfolio

Marketable securities that we hold in our investment portfolio, which are classified as “securities available for sale,” act as a source of liquidity. However, we do not anticipate liquidating the investments prior to maturity.

Following is a detail schedule of the amortized cost of securities available for sale as of December 31: 

	2021		2020		2019
	(dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities—Residential	$	5,242	$	6,492	$	7,745
Mortgage-Backed Securities—Commercial	365,024		182,823		186,316
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities—Residential	632,687		481,109		660,777
Other Government-Sponsored Enterprises	1,000		100,996		1,000
Obligations of States and Political Subdivisions	9,538		11,154		17,738
Corporate Securities	32,088		22,941		22,919
Total Securities Available for Sale	$	1,045,579	$	805,515	$	896,495

As of December 31, 2021, securities available for sale had a fair value of $1.0 billion. Gross unrealized gains were $9.5 million and gross unrealized losses were $13.7 million.

The following is a schedule of the contractual maturity distribution of securities available for sale at December 31, 2021.

	U.S. Government Agencies and Corporations		States and Political Subdivisions		Other Securities		Total Amortized Cost (a)		Weighted Average Yield (b)
	(dollars in thousands)
Within 1 year	$	29	$	—	$	—	$	29	5.72	%
After 1 but within 5 years	15,432		1,883		10,991		28,306		2.99
After 5 but within 10 years	79,592		7,655		21,097		108,344		2.05
After 10 years	908,900		—		—		908,900		1.71
Total	$	1,003,953	$	9,538	$	32,088	$	1,045,579	1.78	%

(a)Equities are excluded from this schedule because they have an indefinite maturity.

(b)Yields are calculated on a taxable equivalent basis.

Mortgage-backed securities, which include mortgage-backed obligations of U.S. Government agencies and obligations of U.S. Government-sponsored enterprises, have contractual maturities ranging from less than one year to approximately 45 years and have anticipated average lives to maturity ranging from less than three years to approximately five years.

The available for sale investment portfolio amortized cost increased $240.1 million, or 30%, at December 31, 2021 compared to 2020. Available for sale investment purchases of $676.9 million were offset by the sale, call or maturity of $433.9 million in investments. Liquidity provided from sales, calls and maturities was utilized to fund growth in the loan portfolio or reinvested into investment securities and interest bearing deposits with banks.

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Following is a detail schedule of the amortized cost of securities held to maturity as of December 31: 

	2021		2020		2019
	(dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities—Residential	$	2,409	$	2,766	$	3,392
Mortgage-Backed Securities—Commercial	91,439		36,799		51,291
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities—Residential	387,848		277,351		229,667
Mortgage-Backed Securities—Commercial	7,309		9,737		12,081
Other Government-Sponsored Enterprises	21,904		—		—
Obligations of States and Political Subdivisions	29,402		34,391		40,092
Debt Securities Issued by Foreign Governments	1,000		800		600
Total Securities Held to Maturity	$	541,311	$	361,844	$	337,123

The following is a schedule of the contractual maturity distribution of securities held to maturity at December 31, 2021.

	U.S. Government Agencies and Corporations		States and Political Subdivisions		Other Securities		Total Amortized Cost		Weighted Average Yield
	(dollars in thousands)
Within 1 year	$	—	$	708	$	200	$	908	2.80	%
After 1 but within 5 years	7,309		6,809		800		14,918		2.62
After 5 but within 10 years	29,173		21,323		—		50,496		1.85
After 10 years	474,427		562		—		474,989		1.46
Total	$	510,909	$	29,402	$	1,000	$	541,311	1.53	%

The held to maturity investment portfolio increased $179.5 million, or 50%, at December 31, 2021 compared to 2020. Held to maturity investment purchases of $361.7 million were offset by the sale, call or maturity of $120.7 million in investments.

See Note 7 “Investment Securities" and Note 16 “Fair Values of Assets and Liabilities” for additional information related to the investment portfolio.

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Deposits

Total deposits increased $543.8 million, or 7%, in 2021. Interest-bearing demand and savings deposits increased $382.9 million, noninterest-bearing demand deposits increased $338.8 million and time deposits decreased $177.9 million. The increase in deposits can be attributed to elevated customer deposit balances from PPP loan proceeds and the deposit of Federal stimulus checks. For additional information concerning our deposits, please refer to Note 12 “Interest-Bearing Deposits.”

Time deposits of $100 thousand or more had remaining maturities as follows as of the end of each year in the three-year period ended December 31:

	2021				2020				2019
	Amount		%		Amount		%		Amount		%
	(dollars in thousands)
3 months or less	$	40,690	30	%	$	79,135	34	%	$	51,625	14	%
Over 3 months through 6 months	29,018		21		59,193		26		88,352		23
Over 6 months through 12 months	38,629		29		52,447		23		133,893		35
Over 12 months	27,749		20		40,675		17		103,759		28
Total	$	136,086	100	%	$	231,450	100	%	$	377,629	100	%

Short-Term Borrowings and Long-Term Debt

Short-term borrowings increased $20.9 million, or 18%, from $117.4 million at December 31, 2020 to $138.3 million at December 31, 2021. Long-term debt decreased $51.0 million, from $233.3 million at December 31, 2020 to $182.3 million at December 31, 2021. For additional information concerning our short-term borrowings, subordinated debentures and other long-term debt, please refer to Note 13 “Short-term Borrowings,” Note 14 “Subordinated Debentures” and Note 15 “Other Long-term Debt” of the Consolidated Financial Statements.

Contractual Obligations and Off-Balance Sheet Arrangements

The table below sets forth our contractual obligations to make future payments as of December 31, 2021. For a more detailed description of each category of obligation, refer to the note in our Consolidated Financial Statements indicated in the table below.

	Footnote Number Reference	1 Year or Less		After 1 But Within 3 Years		After 3 But Within 5 Years		After 5 Years		Total
	(dollars in thousands)
FHLB advances	15	$	712	$	1,508	$	1,629	$	1,724	$	5,573
Subordinated debentures	14	—		—		—		170,775		170,775
Operating leases	10	4,667		9,103		8,105		35,207		57,082
Total contractual obligations		$	5,379	$	10,611	$	9,734	$	207,706	$	233,430

The table above excludes our cash obligations upon maturity of certificates of deposit, which is set forth in Note 12 “Interest-Bearing Deposits” of the Consolidated Financial Statements.

In addition, see Note 9 “Commitments and Letters of Credit” for detail related to our off-balance sheet commitments to extend credit, financial standby letters of credit, performance standby letters of credit and commercial letters of credit as of December 31, 2021. Commitments to extend credit, standby letters of credit and commercial letters of credit do not necessarily represent future cash requirements since it is unknown if the borrower will draw upon these commitments and often these commitments expire without being drawn upon. As of December 31, 2021, a reserve for expected credit losses of $6.4 million was recorded for unused commitments and letters of credit.

Liquidity

Liquidity refers to our ability to meet the cash flow requirements of depositors and borrowers as well as our operating cash needs with cost-effective funding. Liquidity risk arises from the possibility that we may not be able to meet our financial obligations and operating cash needs or may become overly reliant upon external funding sources. In order to manage this risk, our Board of Directors has established a Liquidity Policy that identifies primary sources of liquidity, establishes procedures for

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monitoring and measuring liquidity and quantifies minimum liquidity requirements based on limits approved by our Board of Directors. This policy designates our Asset/Liability Committee (“ALCO”) as the body responsible for meeting these objectives. The ALCO, which includes members of executive management, reviews liquidity on a periodic basis and approves significant changes in strategies that affect balance sheet or cash flow positions. Liquidity is centrally managed on a daily basis by our Treasury Department, which monitors it by using such measures as a 30-day liquidity stress analysis, liquidity gap ratios and noncore funding ratios.

We generate funds to meet our cash flow needs primarily through the core deposit base of FCB and the maturity or repayment of loans and other interest-earning assets, including investments. Core deposits are the most stable source of liquidity a bank can have due to the long-term relationship with a deposit customer. The level of deposits during any period is sometimes influenced by factors outside of management’s control, such as the level of short-term and long-term market interest rates and yields offered on competing investments, such as money market mutual funds. Deposits increased $543.8 million, or 7%, during 2021, and comprised 95% of total liabilities at December 31, 2021, as compared to 93% at December 31, 2020. The increase in deposits in 2021 is a result of elevated customer deposit balances from PPP loan proceeds and the deposit of Federal stimulus checks into our customer's deposit accounts. Proceeds from the sale, maturity and redemption of investment securities totaled $554.6 million during 2021 and provided liquidity to fund loans, pay down short-term borrowings, purchase investment securities and fund depositor withdrawals.

We also have available unused wholesale sources of liquidity, including overnight federal funds and repurchase agreements, advances from the Federal Home Loan Bank of Pittsburgh, borrowings through the discount window at the Federal Reserve Bank of Cleveland and access to certificates of deposit through brokers. We have increased our borrowing capacity at the Federal Reserve by establishing a Borrower-in-Custody of Collateral arrangement that enables us to pledge certain loans, not being used as collateral at the Federal Home Loan Bank, as collateral for borrowings at the Federal Reserve. At December 31, 2021 our borrowing capacity at the Federal Reserve related to this program was $982.1 million and there were no amounts outstanding. Additionally, as of December 31, 2021, our maximum borrowing capacity at the Federal Home Loan Bank of Pittsburgh was $1.9 billion and as of that date amounts used against this capacity included $5.6 million in outstanding borrowings.

We participate in the Certificate of Deposit Account Registry Services (“CDARS”) program as part of an ALCO strategy to increase and diversify funding sources. As of December 31, 2021, our maximum borrowing capacity under this program was $1.0 billion and as of that date there was $5.8 million outstanding. We also participate in a reciprocal program which allows our depositors to receive expanded FDIC coverage by placing multiple certificates of deposit at other CDARS member banks. As of December 31, 2021, our outstanding certificates of deposits from this program have an average weighted rate of 0.57% and an average original term of 341 days.

We also have available unused federal funds lines with four correspondent banks. These lines have an aggregate commitment of $160.0 million and there were no amounts outstanding as of December 31, 2021. In addition, we have available unused repo lines with three correspondent banks. These lines have an aggregate commitment of $875.2 million with no outstanding balance as of December 31, 2021.

The liquidity needs of First Commonwealth on an unconsolidated basis (the "Parent Company") consist primarily of operating expenses, debt service payments and dividend payments to our stockholders, which collectively totaled $51.5 million for the year ended December 31, 2021, as well as any cash necessary to repurchase our shares, which totaled $31.3 million for the year ended December 31, 2021. The primary source of liquidity for the Parent Company is dividends from subsidiaries. The Parent Company had $72.2 million in junior subordinated debentures and cash and interest-bearing deposits of $11.6 million at December 31, 2021. At the end of 2021, the Parent Company had a $20.0 million short-term, unsecured revolving line of credit with another financial institution. As of December 31, 2021, there were no amounts outstanding under this line. The Parent Company has the ability to enhance its liquidity position by raising capital or incurring debt.

Refer to “Financial Condition” above for additional information concerning our deposits, loan portfolio, investment securities and borrowings.

Market Risk

Market risk refers to potential losses arising from changes in interest rates, foreign exchange rates, equity prices and commodity prices. Our market risk is composed primarily of interest rate risk. Interest rate risk is comprised of repricing risk, basis risk, yield curve risk and options risk. Repricing risk arises from differences in the cash flow or repricing between asset and liability portfolios. Basis risk arises when asset and liability portfolios are related to different market rate indices, which do not always change by the same amount. Yield curve risk arises when asset and liability portfolios are related to different maturities on a given yield curve; when the yield curve changes shape, the risk position is altered. Options risk arises from “embedded options”

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within asset and liability products as certain borrowers have the option to prepay their loans when rates fall, while certain depositors can redeem or withdraw their deposits early when rates rise.

The process by which we manage our interest rate risk is called asset/liability management. The goals of our asset/liability management are increasing net interest income without taking undue interest rate risk or material loss of net market value of our equity, while maintaining adequate liquidity. Net interest income is increased by growing earning assets and increasing the difference between the rate earned on earning assets and the rate paid on interest-bearing liabilities. Liquidity is measured by the ability to meet both depositors’ and credit customers’ requirements.

We use an asset/liability model to measure our interest rate risk. Interest rate risk measures include earnings simulation and gap analysis. Gap analysis is a static measure that does not incorporate assumptions regarding future events. Gap analysis, while a helpful diagnostic tool, displays cash flows for only a single rate environment. Net interest income simulations explicitly measure the exposure to earnings from changes in market rates of interest. Under simulation analysis, our current financial position is combined with assumptions regarding future business to calculate net interest income under various hypothetical rate scenarios. Our net interest income simulations assume a level balance sheet whereby new volume equals run-off. The ALCO reviews earnings simulations over multiple years under various interest rate scenarios. Reviewing these various measures provides us with a reasonably comprehensive view of our interest rate profile.

The following gap analysis compares the difference between the amount of interest-earning assets and interest-bearing liabilities subject to repricing over a period of time. The ratio of rate sensitive assets to rate sensitive liabilities repricing within a one-year period was 0.84 and 0.51 at December 31, 2021 and 2020, respectively. A ratio of less than one indicates a higher level of repricing liabilities over repricing assets over the next twelve months. The level of First Commonwealth's ratio is largely driven by the modeling of interest-bearing non-maturity deposits, which are included in the analysis as repricing within one year.

Following is the gap analysis as of December 31:

	2021
	0-90 Days			91-180 Days			181-365 Days			Cumulative 0-365 Days			Over 1 Year Through 5 Years			Over 5 Years
	(dollars in thousands)
Loans	$	2,910,172		$	394,048		$	606,468		$	3,910,688		$	2,296,873		$	555,022
Investments	98,969			82,267			154,316			335,552			725,576			516,766
Other interest-earning assets	310,629			—			—			310,629			—			—
Total interest-sensitive assets (ISA)	3,319,770			476,315			760,784			4,556,869			3,022,449			1,071,788
Certificates of deposit	97,269			72,453			106,243			275,965			107,795			1,232
Other deposits	4,938,673			—			—			4,938,673			—			—
Borrowings	210,682			200			400			211,282			53,197			51,577
Total interest-sensitive liabilities (ISL)	5,246,624			72,653			106,643			5,425,920			160,992			52,809
Gap	$	(1,926,854)		$	403,662		$	654,141		$	(869,051)		$	2,861,457		$	1,018,979
ISA/ISL	0.63			6.56			7.13			0.84			18.77			20.30
Gap/Total assets	20.19		%	4.23		%	6.85		%	9.10		%	29.98		%	10.68		%

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	2020
	0-90 Days			91-180 Days			181-365 Days			Cumulative 0-365 Days			Over 1 Year Through 5 Years			Over 5 Years
	(dollars in thousands)
Loans	$	596,292		$	495,759		$	942,174		$	2,034,225		$	3,424,936		$	1,270,694
Investments	109,706			82,052			158,357			350,115			495,013			150,976
Other interest-earning assets	256,572			—			—			256,572			—			—
Total interest-sensitive assets (ISA)	962,570			577,811			1,100,531			2,640,912			3,919,949			1,421,670
Certificates of deposit	163,340			120,458			135,285			419,083			141,577			2,153
Other deposits	4,555,744			—			—			4,555,744			—			—
Borrowings	189,645			50,105			209			239,959			1,673			104,166
Total interest-sensitive liabilities (ISL)	4,908,729			170,563			135,494			5,214,786			143,250			106,319
Gap	$	(3,946,159)		$	407,248		$	965,037		$	(2,573,874)		$	3,776,699		$	1,315,351
ISA/ISL	0.20			3.39			8.12			0.51			27.36			13.37
Gap/Total assets	43.52		%	4.49		%	10.64		%	28.38		%	41.65		%	14.51		%

Gap analysis has limitations due to the static nature of the model, which holds volumes and consumer behaviors constant in all economic and interest rate scenarios. A lower level of rate sensitive assets to rate sensitive liabilities repricing in one year could indicate reduced net interest income in a rising interest rate scenario, and conversely, increased net interest income in a declining interest rate scenario. However, the gap analysis incorporates only the level of interest-earning assets and interest-bearing liabilities and not the sensitivity each has to changes in interest rates. The impact of the sensitivity to changes in interest rates is provided in the table below.

The following table presents an analysis of the potential sensitivity of our annual net interest income to gradual changes in interest rates over a 12-month time frame as compared with net interest income if rates remained unchanged and there are no changes in balance sheet categories.

	Net interest income change (12 months)
	-200			-100			+100			+200
	(dollars in thousands)
December 31, 2021 ($)	$	(9,008)		$	(4,976)		$	5,956		$	10,224
December 31, 2021 (%)	(3.25)		%	(1.79)		%	2.15		%	3.69		%
December 31, 2020 ($)	$	(4,911)		$	(2,621)		$	3,340		$	6,229
December 31, 2020 (%)	(1.79)		%	(0.95)		%	1.22		%	2.27		%

The following table represents the potential sensitivity of our annual net interest income to immediate changes in interest rates as compared to if rates remained unchanged, assuming there are no changes in balance sheet categories.

	Net interest income change (12 months)
	-200			-100			+100			+200
	(dollars in thousands)
December 31, 2021 ($)	$	(26,120)		$	(17,640)		$	13,867		$	29,192
December 31, 2021 (%)	(9.42)		%	(6.36)		%	5.00		%	10.53		%
December 31, 2020 ($)	$	(13,807)		$	(9,175)		$	9,921		$	18,408
December 31, 2020 (%)	(5.03)		%	(3.34)		%	3.61		%	6.70		%

The analysis and model used to quantify the sensitivity of our net interest income becomes less meaningful in a decreasing 200 basis point scenario given the current interest rate environment. Results of the 100 and 200 basis point interest rate decline

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scenario are affected by the fact that many of our interest-bearing liabilities are at rates below 1%, with an assumed floor of zero in the model. For the years 2021 and 2020, the cost of our interest-bearing liabilities averaged 0.27% and 0.58%, respectively, and the yield on our average interest-earning assets, on a fully taxable equivalent basis, averaged 3.43% and 3.72%, respectively.

During the third quarter of 2021, after considering the excess liquidity position of First Commonwealth and the banking industry, management revised its interest rate assumptions related to its ability to lag deposit rate increases for the first two 25 basis point interest rate increases by the Federal Reserve. The results of this assumption change, which extended the repricing of core deposits, are reflected in the December 31, 2021 results in the above sensitivity tables for gradual and immediate interest rate changes.

The ALCO is responsible for the identification and management of interest rate risk exposure. As such, the ALCO continuously evaluates strategies to manage our exposure to interest rate fluctuations.

Asset/liability models require that certain assumptions be made, such as prepayment rates on earning assets and the impact of pricing on non-maturity deposits, which may differ from actual experience. These business assumptions are based upon our experience, business plans and published industry experience. While management believes such assumptions to be reasonable, there can be no assurance that modeled results will approximate actual results.

Credit Risk

First Commonwealth maintains an allowance for credit losses at a level deemed sufficient for losses inherent in the loan portfolio at the date of each statement of financial condition. Management reviews the appropriateness of the allowance on a quarterly basis to ensure that the provision for credit losses has been charged against earnings in an amount necessary to maintain the allowance at a level that is appropriate based on management’s assessment of estimated expected losses.

First Commonwealth’s methodology for assessing the appropriateness of the allowance for credit losses consists of several key elements. These elements include an assessment of individual nonperforming loans with a balance greater than $250 thousand, loss experience trends and other relevant factors.

First Commonwealth also maintains a reserve for unfunded loan commitments and letters of credit based upon credit risk and probability of funding. The reserve totaled $6.4 million at December 31, 2021 and is classified in “Other liabilities” on the Consolidated Statements of Financial Condition.

Nonperforming loans include nonaccrual loans and loans classified as troubled debt restructurings. Nonaccrual loans represent loans on which interest accruals have been discontinued. Troubled debt restructured loans are those loans whose terms have been renegotiated to provide a reduction or deferral of principal or interest as a result of the deteriorating financial position of the borrower, who could not obtain comparable terms from alternate financing sources. In 2021, 30 loans totaling $9.4 million were identified as troubled debt restructurings. These loans were individually analyzed and no additional reserves were required.

We discontinue interest accruals on a loan when, based on current information and events, it is probable that we will be unable to fully collect principal or interest due according to the contractual terms of the loan. A loan is also placed in nonaccrual status when, based on regulatory definitions, the loan is maintained on a “cash basis” due to the weakened financial condition of the borrower. Generally, loans 90 days or more past due are placed on nonaccrual status, except for consumer loans which are placed on nonaccrual status at 150 days past due.

Nonperforming loans are closely monitored on an ongoing basis as part of our loan review and work-out process. The risk of loss on these loans is evaluated by comparing the loan balance to the estimated fair value of any underlying collateral or the present value of projected future cash flows. Losses or specifically assigned allowance for credit losses are recognized where appropriate.

The allowance for credit losses was $92.5 million at December 31, 2021 or 1.35% of loans outstanding, compared to $101.3 million or 1.50% of loans outstanding at December 31, 2020. Credit measures as of December 31, 2021 compared to December 31, 2020 reflect a decrease in the level of criticized loans of $104.7 million from $302.8 million at December 31, 2020 to $198.1 million at December 31, 2021. Commercial real estate loans accounted for $90.3 million of this decrease. Classified assets increased $1.4 million from $76.2 million at December 31, 2020 to $77.6 million at December 31, 2021. Delinquency on accruing loans decreased $1.6 million, or 14%, and the level of nonperforming loans increased $1.1 million for the same period.

The allowance for credit losses as a percentage of nonperforming loans was 167.7% at December 31, 2021 and 187.4% as of December 31, 2020. The allowance for credit losses includes specific allocations of $0.4 million related to nonperforming loans covering 1% of the total nonperforming balance at December 31, 2021 and specific allocations of $4.9 million covering

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9% of the total nonperforming balance at December 31, 2020. The amount of allowance related to nonperforming loans was determined by using estimated fair values obtained from current appraisals and updated discounted cash flow analyses.

Management believes that the allowance for credit losses is at a level that is sufficient to absorb expected losses in the loan portfolio at December 31, 2021.

The following table provides information on net charge-offs and nonperforming loans by loan category: 

	For the Period Ended December 31, 2021						As of December 31, 2021
	Net Charge-offs		% of Total Net Charge- offs		Net Charge-offs as a % of Average Loans		Nonperforming Loans		% of Total Nonperforming Loans		Nonperforming Loans as a % of Total Loans
	(dollars in thousands)
Commercial, financial, agricultural and other	$	4,590	54.58	%	0.06	%	$	4,047	7.34	%	0.06	%
Real estate construction	(146)		(1.74)		—		45		0.08		—
Residential real estate	(159)		(1.89)		—		9,365		16.97		0.14
Commercial real estate	1,524		18.12		0.02		41,277		74.80		0.60
Loans to individuals	2,601		30.93		0.04		446		0.81		0.01
Total loans, net of unearned income	$	8,410	100.00	%	0.12	%	$	55,180	100.00	%	0.81	%

As the above table illustrates, commercial real estate and residential real estate loans were the most significant portions of the nonperforming loans as of December 31, 2021. See discussions related to the provision for credit losses and loans for more information.

New Accounting Pronouncements

In March 2020, FASB released Accounting Standards Update (“ASU”) 2020-04 - Reference Rate Reform (Topic 848), which provides optional guidance to ease the accounting burden in accounting for, or recognizing the effects from, reference rate reform on financial reporting. The new standard is a result of the potential discontinuance of the London Interbank Offered Rate ("LIBOR") as an available benchmark rate. The standard is elective and provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, or other transactions that reference LIBOR, or another reference rate expected to be discontinued. The amendments in the update are effective for all entities between March 12, 2020 and December 31, 2022. The Company has established a cross-functional working group to manage the Company’s transition from LIBOR. Products that utilize LIBOR have been identified and have incorporated enhanced language to accommodate the transition to alternative reference rates. The Company continues to evaluate the impact of adopting the new standard and at this time does not expect it to have a material impact on its consolidated financial statements.

ITEM 7A.    Quantitative and Qualitative Disclosures About Market Risk

Information appearing in Item 7 of this report under the caption “Market Risk” is incorporated herein by reference in response to this item.

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ITEM 8.    Financial Statements and Supplementary Data

FIRST COMMONWEALTH FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

	December 31,
	2021		2020
	(dollars in thousands, except share data)
Assets
Cash and due from banks	$	84,738	$	100,009
Interest-bearing bank deposits	310,634		256,572
Securities available for sale, at fair value	1,041,380		831,223
Securities held to maturity, at amortized cost, (Fair value $536,651 at December 31, 2021 and $369,851 at December 31, 2020)	541,311		361,844
Other investments	12,838		12,227
Loans held for sale	18,583		33,436
Loans:
Portfolio loans	6,839,230		6,761,183
Allowance for credit losses	(92,522)		(101,309)
Net loans	6,746,708		6,659,874
Premises and equipment, net	120,775		125,517
Other real estate owned	642		1,215
Goodwill	303,328		303,328
Amortizing intangibles, net	11,188		13,492
Bank owned life insurance	224,700		225,952
Other assets	128,268		143,415
Total assets	$	9,545,093	$	9,068,104
Liabilities
Deposits (all domestic):
Noninterest-bearing	$	2,658,782	$	2,319,958
Interest-bearing	5,323,716		5,118,708
Total deposits	7,982,498		7,438,666
Short-term borrowings	138,315		117,373
Subordinated debentures	170,775		170,612
Other long-term debt	5,573		56,258
Capital lease obligation	5,921		6,385
Total long-term debt	182,269		233,255
Other liabilities	132,639		210,193
Total liabilities	8,435,721		7,999,487
Shareholders’ Equity
Preferred stock, $1 par value per share, 3,000,000 shares authorized, none issued	—		—
Common stock, $1 par value per share, 200,000,000 shares authorized; 113,914,902 shares issued as of December 31, 2021 and 2020; and 94,233,152 and 96,130,751 shares outstanding at December 31, 2021 and 2020, respectively	113,915		113,915
Additional paid-in capital	496,121		494,683
Retained earnings	691,260		596,614
Accumulated other comprehensive (loss) income, net	(8,768)		17,233
Treasury stock (19,681,750 and 17,784,151 shares at December 31, 2021 and 2020, respectively)	(183,156)		(153,828)
Total shareholders’ equity	1,109,372		1,068,617
Total liabilities and shareholders’ equity	$	9,545,093	$	9,068,104

The accompanying notes are an integral part of these Consolidated Financial Statements.

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FIRST COMMONWEALTH FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

	Years Ended December 31,
	2021		2020		2019
	(dollars in thousands, except share data)
Interest Income
Interest and fees on loans	$	267,599	$	275,189	$	291,889
Interest and dividends on investments:
Taxable interest	24,723		24,063		29,773
Interest exempt from federal income taxes	595		1,053		1,591
Dividends	521		686		1,608
Interest on bank deposits	400		218		403
Total interest income	293,838		301,209		325,264
Interest Expense
Interest on deposits	5,749		21,972		36,725
Interest on short-term borrowings	99		704		8,298
Interest on subordinated debentures	8,555		8,580		9,084
Interest on other long-term debt	649		1,419		1,016
Interest on capital lease obligation	245		263		279
Total interest expense	15,297		32,938		55,402
Net Interest Income	278,541		268,271		269,862
Provision for credit losses	(1,376)		56,718		14,533
Net Interest Income after Provision for Credit Losses	279,917		211,553		255,329
Noninterest Income
Net securities gains	16		70		22
Trust income	11,111		9,101		8,321
Service charges on deposit accounts	17,984		16,387		18,926
Insurance and retail brokerage commissions	8,502		7,850		7,583
Income from bank owned life insurance	6,433		6,552		6,002
Gain on sale of mortgage loans	13,555		18,764		7,765
Gain on sale of other loans and assets	8,130		4,827		4,793
Card related interchange income	27,954		23,966		21,677
Derivative mark to market	2,344		(2,521)		(269)
Swap fee income	2,543		1,588		3,397
Other income	8,185		7,892		7,268
Total noninterest income	106,757		94,476		85,485
Noninterest Expense
Salaries and employee benefits	119,506		118,961		112,237
Net occupancy	16,586		17,647		18,923
Furniture and equipment	15,642		15,393		15,160
Data processing	12,373		10,543		10,692
Advertising and promotion	4,983		4,679		4,250
Pennsylvania shares tax	4,604		4,500		4,602
Intangible amortization	3,497		3,689		3,344
Other professional fees and services	4,501		3,886		4,631
FDIC insurance	2,529		2,699		1,219
Loss on sale or write-down of assets	303		680		1,724
Litigation and operational losses	2,324		1,411		1,687
Merger and acquisition related	—		—		3,536
COVID-19 expense	449		874		—
Early retirement	—		3,422		—
Branch consolidation	(103)		2,672		—
Other operating expenses	26,663		24,770		27,960
Total noninterest expense	213,857		215,826		209,965
Income before income taxes	172,817		90,203		130,849
Income tax provision	34,560		16,756		25,516
Net Income	$	138,257	$	73,447	$	105,333
Average Shares Outstanding	95,583,890		97,499,586		98,317,787
Average Shares Outstanding Assuming Dilution	95,840,285		97,758,965		98,588,164
Per Share Data: Basic Earnings Per Share	$	1.45	$	0.75	$	1.07
Diluted Earnings Per Share	$	1.44	$	0.75	$	1.07
Cash Dividends Declared per Common Share	$	0.455	$	0.440	$	0.400

The accompanying notes are an integral part of these Consolidated Financial Statements.

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FIRST COMMONWEALTH FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

	Years Ended December 31,
	2021		2020		2019
	(dollars in thousands)
Net Income	$	138,257	$	73,447	$	105,333
Other comprehensive (loss) income, before tax (benefit) expense:
Unrealized holding (losses) gains on securities arising during the period	(29,892)		19,981		20,625
Less: reclassification adjustment for gains on securities included in net income	(16)		(70)		(22)
Unrealized (losses) gains on derivatives:
Unrealized holding (losses) gains on derivatives arising during the period	(3,356)		(4,467)		935
Unrealized gains (losses) for postretirement obligation:
Prior service cost	76		(537)		—
Net gain (loss)	275		(155)		(121)
Total other comprehensive (loss) income, before income tax (benefit) expense	(32,913)		14,752		21,417
Income tax (benefit) expense related to items of other comprehensive (loss) income	(6,912)		3,098		4,497
Comprehensive Income	$	112,256	$	85,101	$	122,253

The accompanying notes are an integral part of these Consolidated Financial Statements.

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FIRST COMMONWEALTH FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

	Shares Outstanding	Common Stock		Additional Paid-in- Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss), net		Treasury Stock		Total Shareholders’ Equity
	(dollars in thousands, except per share data)
Balance at December 31, 2020	96,130,751	$	113,915	$	494,683	$	596,614	$	17,233	$	(153,828)	$	1,068,617
Net income						138,257						138,257
Total other comprehensive loss								(26,001)				(26,001)
Cash dividends declared ($0.455 per share)						(43,611)						(43,611)
Treasury stock acquired	(2,195,110)									(31,301)		(31,301)
Treasury stock reissued	173,907			771		—				1,493		2,264
Restricted stock	123,604	—		667		—				480		1,147
Balance at December 31, 2021	94,233,152	$	113,915	$	496,121	$	691,260	$	(8,768)	$	(183,156)	$	1,109,372

	Shares Outstanding	Common Stock		Additional Paid-in- Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss), net		Treasury Stock		Total Shareholders’ Equity
	(dollars in thousands, except per share data)
Balance at December 31, 2019	98,311,840	$	113,915	$	493,737	$	577,348	$	5,579	$	(134,914)	$	1,055,665
Net income						73,447						73,447
Total other comprehensive income								11,654				11,654
Cash dividends declared ($0.440 per share)						(42,982)						(42,982)
Adoption of accounting standard - ASU 2016-13						(11,199)						(11,199)
Treasury stock acquired	(2,430,842)									(20,905)		(20,905)
Treasury stock reissued	158,453			459		—				1,358		1,817
Restricted stock	91,300	—		487		—				633		1,120
Balance at December 31, 2020	96,130,751	$	113,915	$	494,683	$	596,614	$	17,233	$	(153,828)	$	1,068,617

	Shares Outstanding	Common Stock		Additional Paid-in- Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss), net		Treasury Stock		Total Shareholders’ Equity
	(dollars in thousands, except per share data)
Balance at December 31, 2018	98,518,668	$	113,915	$	492,273	$	511,409	$	(11,341)	$	(130,867)	$	975,389
Net income						105,333						105,333
Total other comprehensive income								16,920				16,920
Cash dividends declared ($0.400 per share)						(39,394)						(39,394)
Treasury stock acquired	(486,849)									(6,259)		(6,259)
Treasury stock reissued	205,021			1,014		—				1,730		2,744
Restricted stock	75,000	—		450		—				482		932
Balance at December 31, 2019	98,311,840	$	113,915	$	493,737	$	577,348	$	5,579	$	(134,914)	$	1,055,665

The accompanying notes are an integral part of these Consolidated Financial Statements.

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FIRST COMMONWEALTH FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Years Ended December 31,
	2021		2020		2019
	(dollars in thousands)
Operating Activities
Net income	$	138,257	$	73,447	$	105,333
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	(1,376)		56,718		14,533
Deferred tax expense (benefit)	1,432		(8,217)		2,292
Depreciation and amortization	11,442		11,653		10,370
Net gains on securities and other assets	(22,273)		(18,807)		(10,671)
Net amortization of premiums and discounts on securities	4,772		6,183		3,892
Income from increase in cash surrender value of bank owned life insurance	(6,105)		(6,288)		(5,998)
Mortgage loans originated for sale	(390,940)		(410,715)		(251,428)
Proceeds from sale of mortgage loans	419,574		408,877		251,968
Decrease (increase) in interest receivable	5,885		(10,735)		423
Decrease in interest payable	(412)		(879)		(256)
Increase (decrease) in income taxes payable	10,664		(887)		1,484
Other—net	(5,874)		5,349		(14,310)
Net cash provided by operating activities	165,046		105,699		107,632
Investing Activities
Transactions with securities held to maturity:
Proceeds from sales	—		—		948
Proceeds from maturities and redemptions	120,728		118,905		54,632
Purchases	(361,734)		(85,679)		(200)
Transactions with securities available for sale:
Proceeds from sales	—		—		—
Proceeds from maturities and redemptions	433,910		472,282		189,194
Purchases	(676,861)		(411,178)		(138,670)
Purchases of FHLB stock	(4,453)		(22,231)		(36,850)
Proceeds from the redemption of FHLB stock	3,342		26,766		52,215
Proceeds from redemptiom of other investments	500		—		—
Proceeds from bank owned life insurance	7,357		1,444		557
Proceeds from the sale of loans	76,414		41,141		37,534
Proceeds from sales of other assets	7,798		5,531		6,822
Acquisition, net of cash acquired	—		—		332,468
Net increase in loans	(161,667)		(622,504)		(358,328)
Purchases of premises and equipment	(10,639)		(7,615)		(17,380)
Net cash (used in) provided by investing activities	(565,305)		(483,138)		122,942
Financing Activities
Net decrease in federal funds purchased	—		—		(11,000)
Net increase (decrease) in other short-term borrowings	20,942		(84,480)		(508,970)
Net increase in deposits	543,947		761,398		308,783
Repayments of other long-term debt	(50,685)		(659)		(634)
Proceeds from issuance of long-term debt	—		—		50,000
Repayments of capital lease obligations	(464)		(430)		(402)
Dividends paid	(43,611)		(42,982)		(39,394)
Proceeds from reissuance of treasury stock	222		222		211
Purchase of treasury stock	(31,301)		(20,905)		(6,259)
Net cash provided by (used in) financing activities	439,050		612,164		(207,665)
Net increase in cash and cash equivalents	38,791		234,725		22,909
Cash and cash equivalents at January 1	356,581		121,856		98,947
Cash and cash equivalents at December 31	$	395,372	$	356,581	$	121,856

The accompanying notes are an integral part of these Consolidated Financial Statements.

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Note 1—Statement of Accounting Policies

General

The following summary of accounting and reporting policies is presented to aid the reader in obtaining a better understanding of the consolidated financial statements of First Commonwealth Financial Corporation and its subsidiaries (“First Commonwealth”) contained in this report. First Commonwealth's subsidiaries include, First Commonwealth Bank ("FCB" or the "Bank"), First Commonwealth Insurance Agency, Inc. ("FCIA"), FRAMAL and First Commonwealth Financial Advisors, Inc. ("FCFA").

The financial information is presented in accordance with generally accepted accounting principles and general practice for financial institutions in the United States of America. In preparing financial statements, management is required to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. In addition, these estimates and assumptions affect revenues and expenses in the financial statements and as such, actual results could differ from those estimates.

Through its subsidiaries, which include a commercial bank and an insurance agency, First Commonwealth provides a full range of loan, deposit, trust, insurance and personal financial planning services primarily to individuals and small to middle market businesses in 26 counties in central and western Pennsylvania as well as throughout Ohio. First Commonwealth has determined that it has one business segment.

First Commonwealth is subject to regulations of certain state and federal agencies. These regulatory agencies periodically examine First Commonwealth for adherence to laws and regulations.

Basis of Presentation

The accompanying Consolidated Financial Statements include the accounts of First Commonwealth previously defined above. All material intercompany transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform to the current period's presentation.

Equity investments of less than a majority but at least 20% ownership are accounted for by the equity method and classified as “Other assets.” Earnings on these investments are reflected in “Other income” on the Consolidated Statements of Income, as appropriate, in the period earned.

Investment Securities

Debt securities that First Commonwealth has the positive intent and ability to hold to maturity are classified as securities held to maturity and are reported at amortized cost adjusted for amortization of premium and accretion of discount on a level yield basis. Debt and equity securities that are bought and held principally for the purpose of selling them in the near term are to be classified as trading securities and reported at fair value, with unrealized gains and losses included in earnings. Debt securities not classified as either held-to-maturity securities or trading securities are classified as securities available for sale and are reported at fair value, with unrealized gains and losses that are not related to impairment excluded from earnings and reported as a component of other comprehensive income, which is included in shareholders’ equity, net of deferred taxes.

First Commonwealth has securities classified as held to maturity and available for sale and does not engage in trading activities. First Commonwealth utilizes the specific identification method to determine the net gain or loss on debt securities and the average cost method to determine the net gain or loss on the equity securities.

First Commonwealth conducts a comprehensive review of the investment portfolio on a quarterly basis to evaluate for expected credit losses. When evaluating available-for-sale securities, management first considers whether we intend to sell the security, or if it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis. If there is intent to sell, the security's amortized cost is written down to fair value through income. Otherwise, available-for-sale securities whose market values have fallen below their book value are evaluated at the issuer-specific level to determine if the decline in value is a result of credit losses. Issuer-specific securities include obligations of U.S. Government agencies and sponsored enterprises, single issue trust preferred securities, corporate debentures and obligations of states and political subdivisions. Further analysis of these securities includes a review of research reports, analysts’ recommendations, credit rating changes, news stories, annual reports, impact of interest rate changes and any other relevant information pertaining to the affected security. Any loss not determined to be a credit loss is recorded as a reduction to shareholders equity, through other comprehensive income. Held-to-maturity securities are evaluated for impairment on a quarterly basis using historical probability of default and loss given default information specific to the investment category. If this evaluation determines that credit losses exist an allowance for credit loss is recorded and included in earnings as a component of credit loss expense.

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Mortgage Loans Held for Sale

Certain residential mortgage loans are originated for sale in the secondary mortgage loan market with the majority sold with servicing rights released. These loans are classified as loans held for sale and are carried at the estimated market value on an aggregate basis. Market value is determined on the basis of rates obtained in the respective secondary market for the type of loan held for sale. Loans are generally sold at a premium or discount from the carrying amount of the loan. Such premium or discount is recognized at the date of sale. Gain or loss on the sale of loans is recorded in non-interest income at the time consideration is received and all other criteria for sales treatment have been met.

Loans

Loans are carried at the principal amount outstanding. Interest is accrued as earned. Loans held for sale are carried at the lower of cost or fair market value determined on an individual basis.

First Commonwealth considers a loan to be past due and still accruing interest when payment of interest or principal is contractually past due but the loan is both well secured and in the process of collection. For installment, mortgage, term and other loans with amortizing payments that are scheduled monthly, 90 days past due is reached when four monthly payments are due and unpaid. For demand, time and other multi-payment obligations with payments scheduled other than monthly, delinquency status is calculated using number of days instead of number of payments. Revolving credit loans, including personal credit lines and home equity lines, are considered to be 90 days past due when the borrower has not made the minimum payment for four monthly cycles.

A loan is placed in nonaccrual status when, based on current information and events, it is probable that First Commonwealth will be unable to fully collect principal or interest due according to the contractual terms of the loan. A loan is also placed in nonaccrual status when, based on regulatory definitions, the loan is maintained on a “cash basis” due to the weakened financial condition of the borrower. When a determination is made to place a loan in nonaccrual status, all accrued and unpaid interest is reversed. Nonaccrual loans are restored to accrual status when, based on a sustained period of repayment by the borrower in accordance with the contractual terms of the loan, First Commonwealth expects repayment of the remaining contractual principal and interest or when the loan otherwise becomes well-secured and in the process of collection.

First Commonwealth considers a loan to be a troubled debt restructured loan when the loan terms have been renegotiated to provide a reduction or deferral of principal or interest as a result of the financial difficulties experienced by the borrower, who could not obtain comparable terms from alternate financing sources. Troubled debt restructured loans are considered to be nonperforming loans.

A loan is considered to be nonperforming when, based on current information and events, it is expected that First Commonwealth will be unable to collect principal or interest that is due in accordance with contractual terms of the loan. Nonperforming loans include nonaccrual loans and troubled debt restructured loans. Expected losses on nonperforming loans are measured based on the present value of expected cash flows discounted at the loan’s effective interest rate or, as a practical expedient, at the loan’s observable market price or the fair value of the collateral if the loan is collateral dependent.

For loans other than those that First Commonwealth expects repayment through liquidation of the collateral, when the remaining recorded investment in the loan is less than or equal to the present value of the expected cash flows, income is applied as a reduction to loan principal rather than interest income.

Loans deemed uncollectible are charged off through the allowance for credit losses. Factors considered in assessing ultimate collectability include past due status, financial condition of the borrower, collateral values and debt covenants including secondary sources of repayment by guarantors. Payments received on previously charged off loans are recorded as recoveries in the allowance for credit losses.

Acquired loans are recorded at estimated fair value on the date of acquisition with no carryover of the related allowance for credit losses. The fair value of acquired loans is determined by estimating the principal and interest cash flows expected to be collected on the loans and discounting those cash flows at a market rate of interest. The estimated fair value considers factors such as loan term, internal risk rating, delinquency status, prepayment rates, estimated value of the underlying collateral and the current interest rate environment.

Loan Fees

Loan origination and commitment fees, net of associated direct costs, are deferred and the net amount is amortized as an adjustment to the related loan yield on the interest method, generally over the contractual life of the related loans or commitments.

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Other Real Estate Owned

Real estate, other than bank premises, is recorded at fair value less estimated selling costs at the time of acquisition.   After that time, other real estate is carried at the lower of cost or fair value less estimated costs to sell. Fair value is determined based on an independent appraisal. Expenses related to holding the property and rental income earned on the property are generally reflected in earnings in the current period. Depreciation is not recorded on the other real estate owned properties.

Allowance for Credit Losses for Loans

On January 1, 2020, First Commonwealth adopted ASU 2016-13 Financial Instruments - Credit Losses ("Topic 326"), which replaces the incurred loss methodology for determining our allowance for credit losses and related provision for credit losses with an expected loss methodology that is referred to as the Current Expected Credit Loss ("CECL") model. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including our loans.

We adopted ASU 2016-13 using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet credit exposures and recognized a cumulative effect adjustment reducing retained earnings by $11.2 million, net of tax. First Commonwealth made the accounting policy election to exclude accrued interest from the allowance for credit loss calculation because these balances are written off or reversed when a loan is placed in non-accrual status.

In connection with our adoption of ASU 2016-13, we made changes to our loan portfolio segments, as compared to loan segments under the incurred model, to align with the methodology applied in determining the allowance under CECL. Refer to Note 8, " Loans and Allowance for Credit Losses" for further discussion of these portfolio segments.

Under CECL, the allowance for credit losses is calculated by pooling loans of similar credit risk characteristics and applying a discounted cash flow methodology after incorporating probability of default and loss given default estimates. Probability of default represents an estimate of the likelihood of default and loss given default measures the expected loss upon default. Inputs impacting the expected losses includes a forecast of macroeconomic factors, using a weighted forecast from a nationally recognized firm. Our model incorporates a one-year forecast of macroeconomic factors, after which the factors revert back to the historical mean over a one-year period.

Results for reporting periods beginning after January 1, 2020 are presented under ASU 2016-13 while prior period amounts continue to be reported in accordance with previously applicable GAAP.

Prior to January 1, 2020, the allowance for credit losses was estimated based on management's assessment of probable estimated losses. In addition to loan category, the major loan classifications used in the allowance for credit losses calculation include pass, other assets especially mentioned (“OAEM”), substandard and doubtful. Additional information related to these credit quality categories is provided in Note 8, "Loans and Allowance for Credit Losses." Under this incurred methodology, the allowance calculation uses net historical charge-off trends to estimate probable unconfirmed losses for each loan category.

A multiplier known as the emergence factor is applied to the historical loss rates for non-criticized loans. The emergence factor is calculated by loan category and represents the average time period from when a loss is incurred until the bank experiences a charge-off against the loan. Before applying the adjusted historical loss experience percentages, loan balances are reduced by the portion of the loan balances which are subject to guarantee by a government agency.

Under the incurred model, loans acquired with evidence of credit deterioration were evaluated and not considered to be significant. The premium or discount estimated through the loan fair value calculation is recognized in interest income on a level yield or straight-line basis over the remaining contractual life of the loans. Additional credit deterioration on acquired loans, in excess of the original credit discount embedded in the fair value determination on the date of acquisition, was recognized in the allowance for credit losses through the provision for loan losses.

As part of both CECL and the incurred methodology, all nonperforming credits, which includes nonaccrual loans and all troubled debt restructurings ("TDRs"), in excess of $250 thousand are individually evaluated on a quarterly basis. A specific reserve is established for individually evaluated loans in an amount equal to the total amount of estimated losses for the loans that are reviewed. Based on this reserve as a percentage of reviewed loan balances, a reserve is also established for the nonperforming loan balances that are not individually reviewed.

An additional component of the allowance is determined by management based on a qualitative analysis of certain factors related to portfolio risks that are not incorporated in the calculated model. Factors considered by management include lending practices, ability and experience of the credit staff, the overall lending environment and external factors such as the regulatory environment and competition. Portfolio risks include unusual changes or recent trends in specific portfolios such as unexpected changes in the trends or levels of delinquency. No matter how detailed an analysis of potential credit losses is performed, these

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estimates are inherently imprecise. Management must make estimates using assumptions and information that is often subjective and changes rapidly.

Allowance for Off-Balance Sheet Credit Exposures

First Commonwealth maintains an allowance for off-balance sheet credit exposure at a level deemed sufficient to absorb losses that are inherent to off-balance sheet credit risk. Off-balance sheet credit exposure includes commitments to extend credit, standby letters of credit and commercial letters of credit. The Company’s methodology for assessing the appropriateness of the allowance for off-balance sheet credit exposure consists of analysis of historical usage trends. The calculation begins with historical usage trends related to lines of credit as well as letters of credit and then utilizes those figures to determine the probable usage of available lines. These values are then adjusted by the expected loss percentage calculated for comparable loan categories as part of the allowance for credit losses for loans. This amount is adjusted quarterly and any change to the allowance is reported as part of provision expense on the Consolidated Statements of Income. The allowance for off-balance sheet credit exposures is reflected in "Other Liabilities" in the Consolidated Statements of Finance Condition.

Bank Owned Life Insurance

First Commonwealth and the banks that First Commonwealth has acquired have purchased insurance on the lives of certain groups of employees. The policies accumulate asset values to meet future liabilities, including the payment of employee benefits such as health care. Increases in the cash surrender value are recorded as non-interest income in the Consolidated Statements of Income and cash receipts and disbursements are included in "Operating Activities" in the Consolidated Statements of Cash Flows. Under some of these policies, the beneficiaries receive a portion of the death benefit. The net present value of the future death benefits scheduled to be paid to the beneficiaries was $4.5 million and $4.6 million as of December 31, 2021 and 2020, respectively, and is reflected in "Other Liabilities" on the Consolidated Statements of Financial Condition.

Premises, Equipment and Lease Commitments

Premises and equipment are carried at cost less accumulated depreciation on First Commonwealth’s Consolidated Statements of Financial Condition. Depreciation is computed on the straight-line and accelerated methods over the estimated useful life of the asset. A straight-line depreciation method was used for substantially all furniture and equipment. The straight-line depreciation method was used for buildings and improvements. Charges for maintenance and repairs are expensed as incurred. Leasehold improvements are expensed over the term of the lease or the estimated useful life of the improvement, whichever is shorter.

Software costs are amortized on a straight-line basis over a period not to exceed 7 years.

A right-of-use asset and related lease liability is recognized on the Consolidated Statements of Financial Condition for operating leases First Commonwealth has entered to lease certain office facilities. These amounts are reported as components of premises and equipment and other liabilities. Short-term operating leases, which are leases with an original term of 12 months or less and do not have a purchase option that is likely to be exercised, are not recognized as part of the right-of-use asset or lease liability. First Commonwealth has no material leasing arrangements for which it is the lessor of property or equipment.

Business Combinations

Business combinations are accounted for by using the acquisition method of accounting. Under the acquisition method, identifiable assets acquired and liabilities assumed at the acquisition date are measured at their fair values as of that date, and are recognized separately from goodwill. The difference between the purchase price and the fair value of the net assets acquired is recorded as goodwill. Results of operations of the acquired entities are included in the consolidated statement of income from the date of acquisition. Acquisition costs are expensed when incurred.

Goodwill

Intangible assets resulting from acquisitions under the purchase method of accounting consist of goodwill and other intangible assets (see “Other Intangible Assets” section below). Goodwill is not amortized and is subject to at least annual assessments for impairment. First Commonwealth reviews goodwill annually and again at any quarter-end if a material event occurs during the quarter that may affect goodwill. When circumstances indicate that it is more likely than not that fair value is less than carrying value, a triggering event has occurred and a quantitative impairment test is performed. Goodwill is evaluated for potential impairment by determining if our fair value has fallen below carrying value.

Other Intangible Assets

Other intangible assets consist of core deposits and customer lists obtained through acquisitions. Core deposit intangibles are amortized over their estimated lives using the present value of the benefit of the core deposits and straight-line methods of amortization. Customer list intangibles are amortized over the expected lives using expected cash flows based on retention of

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the customer base. These intangibles are evaluated for impairment on an annual basis and when events or changes in circumstances indicate that the carrying amount may not be recoverable.

Accounting for the Impairment of Long-Lived Assets

First Commonwealth reviews long-lived assets, such as premises and equipment and intangibles, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. These changes in circumstances may include a significant decrease in the market value of an asset or the extent or manner in which an asset is used. If there is an indication that the carrying amount of an asset may not be recoverable, future undiscounted cash flows expected to result from the use of the asset are estimated. If the sum of the expected cash flows is less than the carrying value of the asset, a loss is recognized for the difference between the carrying value and fair value of the asset. Long-lived assets classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. Depreciation or amortization is discontinued on long-lived assets classified as held for sale.

Income Taxes

First Commonwealth records taxes in accordance with the asset and liability method of FASB ASC Topic 740, “Income Taxes,” ("Topic 740") whereby deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amount of existing assets and liabilities and their respective tax bases given the provisions of the enacted tax laws. Deferred tax assets are reduced, if necessary, by the amount of such benefits that are more likely than not expected to be realized based upon available evidence. In accordance with Topic 740, interest or penalties incurred for taxes will be recorded as a component of noninterest expense.

Comprehensive Income Disclosures

“Other Comprehensive Income” (comprehensive income, excluding net income) includes the after-tax effect of changes in unrealized holding gains and losses on available-for-sale securities, changes in the funded status of defined benefit postretirement plans and changes in the fair value of cash flow hedges. Comprehensive income is reported in the accompanying Consolidated Statements of Comprehensive Income, net of tax.

Cash and Cash Equivalents

For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, federal funds sold and interest-bearing bank deposits. Generally, federal funds are sold for one-day periods.

Derivatives and Hedging Activities

First Commonwealth accounts for derivative instruments and hedging activities in accordance with FASB ASC Topic 815, “Derivatives and Hedging" ("Topic 815"). All derivatives are evaluated at inception as to whether or not they are hedging or non-hedging activities, and appropriate documentation is maintained to support the final determination. First Commonwealth recognizes all derivatives as either assets or liabilities on the Consolidated Statements of Financial Condition and measures those instruments at fair value. For derivatives designated as fair value hedges, changes in the fair value of the derivative and the hedged item related to the hedged risk are recognized in earnings. Any hedge ineffectiveness would be recognized in the income statement line item pertaining to the hedged item. For derivatives designated as cash flow hedges, changes in fair value of the effective portion of the cash flow hedges are reported in other comprehensive income ("OCI"). When the cash flows associated with the hedged item are realized, the gain or loss included in OCI is recognized in the Consolidated Statement of Income.

When First Commonwealth purchases a portion of a commercial loan that has an existing interest rate swap, it enters a Risk Participation Agreement with the counterparty and assumes the credit risk of the loan customer related to the swap. Any fee paid to First Commonwealth as a result of the risk participation agreement is offset by credit risk of the counterparties and is recognized in the income statement. Credit risk on the risk participation agreements is determined after considering the risk rating, probability of default and loss given default of the counterparties.

Management periodically reviews contracts from various functional areas of First Commonwealth to identify potential derivatives embedded within selected contracts. As of December 31, 2021, First Commonwealth has interest rate derivative positions that are designated as hedging instruments and others that are not designated as hedging instruments. See Note 6, “Derivatives,” for a description of these instruments.

Earnings Per Common Share

Basic earnings per share excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding for the period.

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Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. For all periods presented, the dilutive effect on average shares outstanding is the result of unvested restricted stock grants.

Fair Value Measurements

In accordance with FASB ASC Topic 820, “Fair Value Measurements and Disclosures" ("Topic 820"), First Commonwealth groups financial assets and financial liabilities measured at fair value into three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are:

•Level 1—Valuations for assets and liabilities traded in active exchange markets, such as the New York Stock Exchange ("NYSE"). Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities.

•Level 2—Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained for identical or comparable assets or liabilities from alternative pricing sources with reasonable levels of price transparency. Level 2 securities include U.S. Government securities issued by Agencies and Sponsored Enterprises, Obligations of States and Political Subdivisions, certain corporate securities, FHLB stock, loans held for sale, interest rate derivatives that include interest rate swaps, risk participation agreements and foreign currency contracts, certain other real estate owned and certain nonperforming loans.

•Level 3—Valuations for assets and liabilities that are derived from other valuation methodologies, including option pricing models, discounted cash flow models and similar techniques, and not based on market exchange, dealer or broker traded transactions. If the inputs used to provide the evaluation are unobservable and/or there is very little, if any, market activity for the security or similar securities, the securities would be considered Level 3 securities. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets or liabilities. The assets included in Level 3 are nonmarketable equity investments, certain other real estate owned and certain nonperforming loans.

In general, fair values of financial instruments are based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based upon pricing models that primarily use, as inputs, observable market-based parameters. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. These adjustments may include amounts to reflect counterparty credit quality and our creditworthiness, among other things, as well as unobservable parameters. Any such valuation adjustments are applied consistently over time. See Note 16 “Fair Values of Assets and Liabilities” for additional information.

Revenue from Contracts with Customers

First Commonwealth records revenue from contracts with customers in accordance with ASC Topic 606, “Revenue from Contracts with Customers” (“Topic 606”). Under Topic 606, the Company must identify the contract with a customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract, and recognize revenue when (or as) the Company satisfies a performance obligation.

A significant component of the Company's revenue, net interest earned on financial assets and liabilities, is excluded from the scope of Topic 606. First Commonwealth generally fully satisfies its performance obligations on its contracts with customers as services are rendered and the transaction prices are typically fixed; charged either on a periodic basis or based on activity. Because performance obligations are satisfied as services are rendered and the transaction prices are fixed, the Company has made no significant judgments in applying the revenue guidance prescribed in Topic 606 that affect the determination of the amount and timing of revenue from contracts with customers.

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Note 2—Supplemental Comprehensive Income Disclosures

The following table identifies the related tax effects allocated to each component of other comprehensive income in the Consolidated Statements of Comprehensive Income as of December 31. Reclassification adjustments related to securities available for sale are included in the “Net securities gains” line in the Consolidated Statements of Income.

	2021						2020						2019
	Pretax Amount		Tax (Expense) Benefit		Net of Tax Amount		Pretax Amount		Tax (Expense) Benefit		Net of Tax Amount		Pretax Amount		Tax (Expense) Benefit		Net of Tax Amount
	(dollars in thousands)
Unrealized gains (losses) on securities:
Unrealized holding (losses) gains on securities arising during the period	$	(29,892)	$	6,278	$	(23,614)	$	19,981	$	(4,196)	$	15,785	$	20,625	$	(4,331)	$	16,294
Reclassification adjustment for gains on securities included in net income	(16)		3		(13)		(70)		15		(55)		(22)		5		(17)
Total unrealized (losses) gains on securities	(29,908)		6,281		(23,627)		19,911		(4,181)		15,730		20,603		(4,326)		16,277
Unrealized gains (losses) on derivatives:
Unrealized holding (losses) gains on derivatives arising during the period	(3,356)		705		(2,651)		(4,467)		938		(3,529)		935		(196)		739
Total unrealized (losses) gains on derivatives	(3,356)		705		(2,651)		(4,467)		938		(3,529)		935		(196)		739
Unrealized gains (losses) for postretirement obligations:
Prior service cost	76		(16)		60		(537)		113		(424)		—		—		—
Net gain (loss)	275		(58)		217		(155)		32		(123)		(121)		25		(96)
Total unrealized gains (losses) for postretirement obligations	351		(74)		277		(692)		145		(547)		(121)		25		(96)
Total other comprehensive (loss) income	$	(32,913)	$	6,912	$	(26,001)	$	14,752	$	(3,098)	$	11,654	$	21,417	$	(4,497)	$	16,920

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The following table details the change in components of OCI for the year-ended December 31:

	2021
	Securities Available for Sale		Derivatives		Post-Retirement Obligation		Accumulated Other Comprehensive Income
	(dollars in thousands)
Balance at January 1	$	20,310	$	(2,895)	$	(182)	$	17,233
Other comprehensive loss before reclassification adjustment	(23,614)		(2,651)				(26,265)
Amounts reclassified from accumulated other comprehensive income (loss)	(13)		—				(13)
Prior service cost					60		60
Net gain					217		217
Net other comprehensive loss during the period	(23,627)		(2,651)		277		(26,001)
Balance at December 31	$	(3,317)	$	(5,546)	$	95	$	(8,768)
	2020
	Securities Available for Sale		Derivatives		Post-Retirement Obligation		Accumulated Other Comprehensive Income
	(dollars in thousands)
Balance at January 1	$	4,580	$	634	$	365	$	5,579
Other comprehensive income before reclassification adjustment	15,785		(3,529)				12,256
Amounts reclassified from accumulated other comprehensive income (loss)	(55)		—				(55)
Net gain					(123)		(123)
Net other comprehensive income during the period	15,730		(3,529)		(547)		11,654
Balance at December 31	$	20,310	$	(2,895)	$	(182)	$	17,233
	2019
	Securities Available for Sale		Derivatives		Post-Retirement Obligation		Accumulated Other Comprehensive Income
	(dollars in thousands)
Balance at January 1	$	(11,697)	$	(105)	$	461	$	(11,341)
Other comprehensive income before reclassification adjustment	16,294		739				17,033
Amounts reclassified from accumulated other comprehensive income (loss)	(17)		—				(17)
Net gain					(96)		(96)
Net other comprehensive income during the period	16,277		739		(96)		16,920
Balance at December 31	$	4,580	$	634	$	365	$	5,579

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Note 3—Supplemental Cash Flow Disclosures

The following table presents information related to cash paid during the year for interest and income taxes as well as detail on non-cash investing and financing activities for the years ended December 31:

	2021		2020		2019
	(dollars in thousands)
Cash paid during the period for:
Interest	$	15,624	$	33,964	$	56,005
Income taxes	22,374		25,914		21,787
Non-cash investing and financing activities:
Loans transferred to other real estate owned and repossessed assets	3,163		3,865		4,723
Fair value of loans transferred from held to maturity to held for sale	73,697		37,305		30,359
Loans transferred from held for sale to held to maturity	—		4,335		482
Gross (decrease) increase in market value adjustment to securities available for sale	(29,908)		19,911		20,604
Gross (decrease) increase in market value adjustment to derivatives	(3,356)		(4,467)		935
Investments committed to purchase, not settled	—		(34,185)		25,484
Increase in limited partnership investment unfunded commitment	7,565		—		1,469
Net assets (liabilities) acquired through acquisition	—		—		(361,595)
Proceeds from death benefit on bank-owned life insurance not received	—		(384)		484
Treasury shares issued	2,042		1,594		2,531

Note 4—Earnings per Share

The following table summarizes the composition of the weighted-average common shares (denominator) used in the basic and diluted earnings per share computation for the years ending December 31:

	2021		2020		2019
Weighted average common shares issued	113,914,902		113,914,902		113,914,902
Average treasury shares	(18,140,857)		(16,254,304)		(15,447,299)
Average deferred compensation shares	(55,590)		(42,751)		(37,496)
Average unearned nonvested shares	(134,565)		(118,261)		(112,320)
Weighted average common shares and common stock equivalents used to calculate basic earnings per share	95,583,890		97,499,586		98,317,787
Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share	200,712		203,836		231,957
Additional common stock equivalents (deferred compensation) used to calculated diluted earnings per share	55,683		55,543		38,420
Weighted average common shares and common stock equivalents used to calculate diluted earnings per share	95,840,285		97,758,965		98,588,164
Per Share Data
Basic Earnings Per Share	$	1.45	$	0.75	$	1.07
Diluted Earnings Per Share	$	1.44	$	0.75	$	1.07

The following table shows the number of shares and the price per share related to common stock equivalents that were not included in the computation of diluted earnings per share for the years ended December 31, because to do so would have been anti-dilutive.

	12/31/2021					12/31/2020					12/31/2019
		Price Range					Price Range					Price Range
	Shares	From		To		Shares	From		To		Shares	From		To
Restricted Stock	99,344	$	12.77	$	15.96	92,499	$	13.72	$	15.44	81,730	$	12.99	$	15.44
Restricted Stock Units	—	$	—	$	—	106,931	$	12.43	$	15.37	26,217	$	16.62	$	16.62

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Note 5—Cash and Due from Banks

Regulations of the Board of Governors of the Federal Reserve System impose uniform reserve requirements on all depository institutions with transaction accounts, such as checking accounts and NOW accounts. Reserves are maintained in the form of vault cash or balances held with the local Federal Reserve Bank. First Commonwealth Bank maintained average balances of $309.6 million during 2021 and $173.2 million during 2020 with the Federal Reserve Bank of Cleveland.

Note 6—Derivatives

Derivatives Not Designated as Hedging Instruments

First Commonwealth is a party to interest rate derivatives that are not designated as hedging instruments. These derivatives relate to interest rate swaps that First Commonwealth enters into with customers to allow customers to convert variable rate loans to a fixed rate. First Commonwealth pays interest to the customer at a floating rate on the notional amount and receives interest from the customer at a fixed rate for the same notional amount. At the same time the interest rate swap is entered into with the customer, an offsetting interest rate swap is entered into with another financial institution. First Commonwealth pays the other financial institution interest at the same fixed rate on the same notional amount as the swap entered into with the customer, and receives interest from the financial institution for the same floating rate on the same notional amount.

The changes in the fair value of the swaps offset each other, except for the credit risk of the counterparties, which is determined by taking into consideration the risk rating, probability of default and loss given default for all counterparties.

We have 39 risk participation agreements with financial institution counterparties for interest rate swaps related to loans in which we are a participant. The risk participation agreements provide credit protection to the financial institution should the borrower fail to perform on its interest rate derivative contract with the financial institution. We have 17 risk participation agreements with financial institution counterparties for interest rate swaps related to loans in which we are the lead bank. The risk participation agreement provides credit protection to us should the borrower fail to perform on its interest rate derivative contract with us.

First Commonwealth is also party to interest rate caps and collars that are not designated as hedging instruments. The interest rate caps relate to contracts that First Commonwealth enters into with loan customers that provide a maximum interest rate on their variable rate loan. At the same time the interest rate cap is entered into with the customer, First Commonwealth enters into an offsetting interest rate cap with another financial institution. The notional amount and maximum interest rate on both interest cap contracts are identical. The interest rate collars relate to contracts that First Commonwealth enters into with loan customers that provides both a maximum and minimum interest rate on their variable rate loan. At the same time the interest rate collar is entered into with the customer, First Commonwealth enters into an offsetting interest rate collar with another financial institution. The notional amount and the maximum and minimum interest rates on both interest collar contracts are identical.

The fee received, less the estimate of the loss for the credit exposure, was recognized in earnings at the time of the transaction.

Derivatives Designated as Hedging Instruments

In August 2019, the Company entered into two interest rate swap contracts that are designated as cash flow hedges. These contracts mature on August 15, 2024 and August 15, 2026 and have notional amounts of $30.0 million and $40.0 million, respectively. The Company's risk management objective for these hedges is to reduce its exposure to variability in expected future cash flows related to interest payments made on subordinated debentures benchmarked to the 3-month LIBOR rate. Therefore, the interest rate swaps convert the interest rate benchmark on the first $70.0 million of 3-month LIBOR based subordinated debentures to a fixed rate.

During 2021, the Company entered into eight interest rate swap contracts that were designated as cash flow hedges. The interest rate swaps have a total notional amount of $500.0 million; $75.0 million with an original maturity of three years, $175.0 million with an original maturity of four years and $250.0 million with an original maturity of five years. The Company's risk management objective for these hedges is to reduce its exposure to variability in expected future cash flows related to interest payments on commercial loans benchmarked to the 1-month LIBOR rate. Therefore, the interest rate swaps convert the interest payments on the first $500.0 million of 1-month LIBOR based commercial loans into fixed rate payments.

The periodic net settlement of these interest rate swaps are recorded as an adjustment to "Interest on subordinated debentures" or "Interest and fees on loans" in the Consolidated Statement of Income. For the years ended December 31, 2021 and 2019, net interest income increased $0.6 million and $41 thousand, respectively, and decreased $0.4 million for the year ended December 31, 2020 as a result of these interest rate swaps. Changes in the fair value of the cash flow hedges are reported on the

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balance sheet and in OCI. When the cash flows associated with the hedged item are realized, the gain or loss included in OCI is recognized in "Interest on subordinated debentures" or "Interest and fees on loans," in the Consolidated Statements of Income in the same line item as the income or expense on the hedged items. The cash flow hedges were highly effective at December 31, 2021 and changes in the fair value attributed to hedge ineffectiveness were not material.

The Company also enters into interest rate lock commitments in conjunction with its mortgage origination business. These are commitments to originate loans whereby the interest rate on the loan is determined prior to funding and the customers have locked into that interest rate. The Company locks in the rate with an investor and commits to deliver the loan if settlement occurs (“best efforts”) or commits to deliver the locked loan in a binding (“mandatory”) delivery program with an investor. Loans under mandatory rate lock commitments are covered under forward sales contracts of mortgage-backed securities (“MBS”). Forward sales contracts of MBS are recorded at fair value with changes in fair value recorded in "Noninterest income" in the Consolidated Statements of Income. The impact to noninterest income for the years ended December 31, 2021 was a decrease of $0.5 million and an increase of $0.4 million and $0.1 million, respectively, for the years ended December 31, 2020 and 2019.

Interest rate lock commitments and commitments to deliver loans to investors are considered derivatives. The market value of interest rate lock commitments and best efforts contracts are not readily ascertainable with precision because they are not actively traded in stand-alone markets. We determine the fair value of rate lock commitments and delivery contracts by measuring the fair value of the underlying asset, which is impacted by current interest rates and taking into consideration the probability that the rate lock commitments will close or will be funded. At December 31, 2021, the underlying funded mortgage loan commitments had a carrying value of $11.0 million and a fair value of $11.9 million, while the underlying unfunded mortgage loan commitments had a notional amount of $29.7 million. At December 31, 2020, the underlying funded mortgage loan commitments had a carrying value of $25.0 million and a fair value of $28.4 million, while the underlying unfunded mortgage loan commitments had a notional amount of $47.9 million.

In addition, a small amount of interest income on loans is exposed to changes in foreign exchange rates. Several commercial borrowers have a portion of their operations outside of the United States and borrow funds on a short-term basis to fund those operations. In order to reduce the risk related to the translation of foreign denominated transactions into U.S. dollars, the Company enters into foreign exchange forward contracts. These contracts relate principally to the Euro and the Canadian dollar. The contracts are recorded at fair value with changes in fair value recorded in "Other operating expenses" in the Consolidated Statements of Income. The impact on other noninterest expense for the years ended December 31, 2021 totaled $11 thousand, $18 thousand and $5 thousand, respectively. At December 31, 2021, the underlying loans had both a carrying value and a fair value of $2.0 million. At December 31, 2020, the underlying loans had both a carrying value and a fair value of $2.1 million.

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The following table depicts the credit value adjustment recorded relative to the notional amount of derivatives outstanding as well as the notional amount of risk participation agreements participated to other banks at December 31:

	2021		2020
	(dollars in thousands)
Derivatives not Designated as Hedging Instruments
Credit value adjustment	$	(395)	$	(2,792)
Notional Amount:
Interest rate derivatives	708,759		631,446
Interest rate caps	66,007		66,527
Interest rate collars	35,354		35,354
Risk participation agreements	241,111		220,280
Sold credit protection on risk participation agreements	(95,618)		(78,522)
Interest rate options	29,691		47,874
Derivatives Designated as Hedging Instruments
Interest rate swaps:
Fair value adjustment	(7,022)		(3,665)
Notional Amount	570,000		70,000
Interest rate forwards:
Fair value adjustment	(29)		(483)
Notional Amount	38,000		65,000
Foreign exchange forwards:
Fair value adjustment	12		(5)
Notional Amount	1,982		2,119

The table below presents the amount representing the change in the fair value of derivative assets and derivative liabilities attributable to credit risk included in “Other income” on the Consolidated Statements of Income for the years ended December 31:

	2021		2020		2019
	(dollars in thousands)
Non-hedging interest rate derivatives:
Increase (decrease) in other income	$	728	$	(981)	$	(269)
Decrease in other expense	—		—		(352)
Hedging interest rate derivatives:
Increase (decrease) in interest and fees on loans	1,567		—		(118)
Increase (decrease) in interest from subordinated debentures	959		449		(159)
Increase in other expense	—		—		7
Hedging interest rate forwards:
(Decrease) increase in other income	(454)		420		106
Increase in other expense	—		—		—
Hedging interest rate derivatives:
Increase in other expense	11		18		5

The fair value of our derivatives is included in a table in Note 16, “Fair Values of Assets and Liabilities,” in the line items “Other assets” and “Other liabilities.”

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Note 7—Investment Securities

Securities Available for Sale

Below is an analysis of the amortized cost and fair values of securities available for sale at December 31:

	2021								2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities – Residential	$	5,242	$	420	$	—	$	5,662	$	6,492	$	738	$	—	$	7,230
Mortgage-Backed Securities – Commercial	365,024		1,725		(4,459)		362,290		182,823		8,357		—		191,180
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities – Residential	632,687		6,308		(9,021)		629,974		481,109		14,924		—		496,033
Other Government-Sponsored Enterprises	1,000		—		(19)		981		100,996		2		—		100,998
Obligations of States and Political Subdivisions	9,538		89		(103)		9,524		11,154		243		—		11,397
Corporate Securities	32,088		973		(112)		32,949		22,941		1,444		—		24,385
Total Securities Available for Sale	$	1,045,579	$	9,515	$	(13,714)	$	1,041,380	$	805,515	$	25,708	$	—	$	831,223

Mortgage backed securities include mortgage backed obligations of U.S. Government agencies and obligations of U.S. Government-sponsored enterprises. These obligations have contractual maturities ranging from less than one year to approximately 30 years with lower anticipated lives to maturity due to prepayments. All mortgage backed securities contain a certain amount of risk related to the uncertainty of prepayments of the underlying mortgages. Interest rate changes have a direct impact upon prepayment speeds; therefore, First Commonwealth uses computer simulation models to test the average life and yield volatility of all mortgage backed securities under various interest rate scenarios to monitor the potential impact on earnings and interest rate risk positions.

Expected maturities will differ from contractual maturities because issuers may have the right to call or repay obligations with or without call or prepayment penalties. Other fixed income securities within the portfolio also contain prepayment risk.

The amortized cost and estimated fair value of debt securities available for sale at December 31, 2021, by contractual maturity, are shown below:

	Amortized Cost		Estimated Fair Value
	(dollars in thousands)
Due within 1 year	$	—	$	—
Due after 1 but within 5 years	13,874		14,334
Due after 5 but within 10 years	28,752		29,120
Due after 10 years	—		—
	42,626		43,454
Mortgage-Backed Securities (a)	1,002,953		997,926
Total Debt Securities	$	1,045,579	$	1,041,380

(a)Mortgage Backed Securities include an amortized cost of $370.3 million and a fair value of $368.0 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $632.7 million and a fair value of $630.0 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac.

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Proceeds from sales of securities and gross gains (losses) realized on sales, calls and maturities of securities available for sale were as follows for the years ended December 31:

	2021		2020		2019
	(dollars in thousands)
Proceeds from sales	$	—	$	—	$	948
Gross (losses) gains realized:
Sales Transactions:
Gross gains	$	—	$	—	$	—
Gross losses	—		—		(7)
	—		—		(7)
Maturities
Gross gains	16		70		29
Gross losses	—		—		—
	16		70		29
Net gains	$	16	$	70	$	22

Gross gains from maturities recognized in 2021, 2020 and 2019 were the result of calls on municipal securities. Gross losses on sales transactions recognized in 2019 were the result of the sale of one municipal security after its credit rating was withdrawn.

Securities available for sale with an approximate fair value of $759.1 million and $792.1 million were pledged as of December 31, 2021 and 2020, respectively, to secure public deposits and for other purposes required or permitted by law.

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Securities Held to Maturity

Below is an analysis of the amortized cost and fair values of debt securities held to maturity at December 31:

	2021								2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities – Residential	$	2,409	$	101	$	—	$	2,510	$	2,766	$	138	$	—	$	2,904
Mortgage-Backed Securities – Commercial	91,439		305		(1,939)		89,805		36,799		1,441		—		38,240
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities – Residential	387,848		2,800		(5,758)		384,890		277,351		5,389		(10)		282,730
Mortgage-Backed Securities – Commercial	7,309		148		—		7,457		9,737		344		—		10,081
Other Government-Sponsored Enterprises	21,904		—		(625)		21,279		—		—		—		—
Obligations of States and Political Subdivisions	29,402		414		(103)		29,713		34,391		705		—		35,096
Debt Securities Issued by Foreign Governments	1,000		—		(3)		997		800		—		—		800
Total Securities Held to Maturity	$	541,311	$	3,768	$	(8,428)	$	536,651	$	361,844	$	8,017	$	(10)	$	369,851

The amortized cost and estimated fair value of debt securities held to maturity at December 31, 2021, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties.

	Amortized Cost		Estimated Fair Value
	(dollars in thousands)
Due within 1 year	$	908	$	918
Due after 1 but within 5 years	7,610		7,653
Due after 5 but within 10 years	43,226		42,846
Due after 10 years	562		572
	52,306		51,989
Mortgage-Backed Securities (a)	489,005		484,662
Total Debt Securities	$	541,311	$	536,651

(a)Mortgage Backed Securities include an amortized cost of $93.8 million and a fair value of $92.3 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $395.2 million and a fair value of $392.3 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac.

Securities held to maturity with an amortized cost of $313.9 million and $228.1 million were pledged as of December 31, 2021 and 2020, respectively, to secure public deposits for other purposes required or permitted by law.

Other Investments

As a member of the Federal Home Loan Bank ("FHLB"), First Commonwealth is required to purchase and hold stock in the FHLB to satisfy membership and borrowing requirements. The level of stock required to be held is dependent on the amount of First Commonwealth's mortgage related assets and outstanding borrowings with the FHLB. This stock is restricted in that it can

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only be sold to the FHLB or to another member institution, and all sales of FHLB stock must be at par. As a result of these restrictions, FHLB stock is unlike other investment securities insofar as there is no trading market for FHLB stock and the transfer price is determined by FHLB membership rules and not by market participants. As of December 31, 2021 and 2020, our FHLB stock totaled $11.7 million and $10.6 million, respectively and is included in “Other investments” on the Consolidated Statements of Financial Condition.

FHLB stock is held as a long-term investment and its value is determined based on the ultimate recoverability of the par value. First Commonwealth evaluates impairment quarterly and has concluded that the par value of its investment in FHLB stock will be recovered. Accordingly, no impairment charge was recorded on these securities for the year ended December 31, 2021.

At both December 31, 2021 and 2020, Other Investments also includes $1.2 million and $1.7 million, respectively, in equity securities. These securities do not have a readily determinable fair value and are carried at cost. For the years ended December 31, 2021 and 2020, there were no gains or losses recognized through earnings on equity securities. On a quarterly basis, management evaluates equity securities by reviewing research reports, analysts’ recommendations, credit rating changes, news stories, annual reports, regulatory filings, impact of interest rate changes and other relevant information.

Impairment of Investment Securities

On January 1, 2020, First Commonwealth adopted Topic 326, which requires estimated credit losses on held to maturity securities be recorded as an allowance for credit loss instead of a reduction in the amortized cost of the securities. Prior to the adoption of ASU 2016-13, credit related other-than-temporary impairment on debt securities was recognized in earnings while non-credit related other-than-temporary impairment on debt securities not expected to be sold was recognized in OCI.

There were no estimated credit losses recorded during the years ended December 31, 2021 and 2020. During the year ended December 31, 2019, no other-than-temporary impairment charges were recognized.

First Commonwealth utilizes the specific identification method to determine the net gain or loss on debt securities and the average cost method to determine the net gain or loss on equity securities.

We review our investment portfolio on a quarterly basis for indications of impairment. For available for sale securities the review includes analyzing the financial condition and near-term prospects of the issuer, including any specific events which may influence the operations of the issuer and whether we are more likely than not to sell the security. We evaluate whether we are more likely than not to sell debt securities based upon our investment strategy for the particular type of security and our cash flow needs, liquidity position, capital adequacy, tax position and interest rate risk position. Held-to-maturity securities are evaluated for impairment on a quarterly basis using historical probability of default and loss given default information specific to the investment category. If this evaluation determines that credit losses exist, an allowance for credit loss is recorded and included in earnings as a component of credit loss expense.

The following table presents the gross unrealized losses and estimated fair values at December 31, 2021 for available for sale securities for which an allowance for credit losses has not been recorded and held to maturity securities by investment category and time frame for which the securities have been in a continuous unrealized loss position:

	Less Than 12 Months				12 Months or More				Total
	Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses
	(dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities – Commercial	$	320,414	$	(6,398)	$	—	$	—	$	320,414	$	(6,398)
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities – Residential	658,965		(14,779)		—		—		658,965		(14,779)
Other Government-Sponsored Enterprises	22,261		(644)		—		—		22,261		(644)
Obligations of States and Political Subdivisions	11,213		(206)		—		—		11,213		(206)
Debt Securities Issued by Foreign Governments	997		(3)		—		—		997		(3)
Corporate Securities	19,013		(112)		—		—		19,013		(112)
Total Securities	$	1,032,863	$	(22,142)	$	—	$	—	$	1,032,863	$	(22,142)

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At December 31, 2021, fixed income securities issued by U.S., Government Agencies and U.S. Government-sponsored enterprises comprised 99% of total unrealized losses. All unrealized losses are a result of changes in market interest rates. At December 31, 2021, there were 66 debt securities in an unrealized loss position, all of which were in an unrealized loss position of less than 12 months. There were no equity securities in an unrealized loss position at December 31, 2021.

The following table presents the gross unrealized losses and estimated fair value at December 31, 2020 for both available for sale and held to maturity securities by investment category and time frame for which the securities had been in a continuous unrealized loss position: 

	Less Than 12 Months				12 Months or More				Total
	Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses
	(dollars in thousands)
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities – Residential	$	3,755	$	(10)	$	—	$	—	$	3,755	$	(10)
Total Securities	$	3,755	$	(10)	$	—	$	—	$	3,755	$	(10)

As of December 31, 2021, our corporate securities had an amortized cost and estimated fair value of $32.1 million and $32.9 million, respectively, and were comprised of debt for large regional banks. At December 31, 2020, these securities had an amortized cost of $22.9 million and estimated fair value of $24.4 million. When unrealized losses exist, management reviews each of the issuer’s asset quality, earnings trend and capital position, to determine whether the unrealized loss position is a result of credit losses. All interest payments on the corporate securities are being made as contractually required.

There was no expected credit related impairment recognized on investment securities during the twelve months ended December 31, 2021 and 2020. Prior to 2020, investment securities were evaluated for other-than-temporary impairment.

Note 8—Loans and Allowance for Credit Losses

Loans are presented in the Consolidated Statements of Financial Condition net of deferred loan fees and costs, and discounts related to purchased loans. Net deferred costs were $0.8 million as of December 31, 2021 and net deferred fees were $6.0 million as of December 31, 2020 and discounts on purchased loans were $6.0 million and $7.0 million at December 31, 2021 and 2020, respectively. The following table provides outstanding balances related to each of our loan types as of December 31:

	2021		2020
	(dollars in thousands)
Commercial, financial, agricultural and other	$	1,173,452	$	1,555,986
Time and demand	1,159,524		1,541,382
Commercial credit cards	13,928		14,604
Real estate construction	494,456		427,221
Residential real estate	1,920,250		1,750,592
Residential first lien	1,299,534		1,144,323
Residential junior lien/home equity	620,716		606,269
Commercial real estate	2,251,097		2,211,569
Multifamily	385,432		371,239
Nonowner occupied	1,465,247		1,421,151
Owner occupied	400,418		419,179
Loans to individuals	999,975		815,815
Automobile	901,280		712,800
Consumer credit cards	11,151		12,360
Consumer other	87,544		90,655
Total loans	$	6,839,230	$	6,761,183

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Commercial, financial, agricultural and other loans at December 31, 2021 and 2020 includes $71.3 million and $478.9 million, respectively, in PPP loans for small businesses who meet the necessary eligibility requirements. PPP loans are 100% guaranteed by the SBA under the CARES Act and are forgivable, in whole or in part, if the proceeds are used for payroll and other permitted purposes in accordance with the PPP requirements. Because PPP loans are fully guaranteed by the SBA, there is no allowance for credit losses recognized for these loans. Although the Company believes that the majority of these loans will ultimately be forgiven by the SBA in accordance with the terms of the program, there could be risks and liability to the Company associated with participation in the program.

First Commonwealth’s loan portfolio includes five primary loan categories. When calculating the allowance for credit losses these categories are classified into eleven portfolio segments. The composition of loans by portfolio segment includes;

Commercial, financial, agricultural and other

Time & Demand - Consists primarily of commercial and industrial loans. This category consists of loans that are typically cash flow dependent and therefore have different risk and loss characteristics than other commercial loans. Loans in this category include revolving and term structures with fixed and variable interest rates. The primary macroeconomic drivers for estimating credit losses for this category include forecasts of national unemployment and economic conditions measured by GDP.

Commercial Credit Cards - Consists of unsecured credit cards for commercial customers. These commercial credit cards have separate characteristics outside of normal commercial non-real estate loans, as they tend to have shorter overall duration. The primary macroeconomic drivers for estimating credit losses for this category include forecasts of national unemployment and economic conditions measured by GDP.

Real estate construction

Includes both 1-4 family and commercial construction loans. The risk and loss characteristics of the construction category are different than other real estate secured categories due to the collateral being at various stages of completion. The primary macroeconomic drivers for estimating credit losses for this category include forecasts of national unemployment and measures of completed construction projects.

Residential real estate

Residential first lien - Consists of loans with collateral of 1-4 family residencies with a senior lien position. The risk and loss characteristics are unique for this group because the collateral for these loans are the borrower’s primary residence. The primary macroeconomic drivers for estimating credit losses for this category include forecasts of national unemployment and residential property values.

Residential Junior Lien/Home Equity - Consists of loans with collateral of 1-4 family residencies with an open end line of credit or junior lien position. The junior lien position for the majority of these loans provides a higher risk of loss than other residential real estate loans. The primary macroeconomic drivers for estimating credit losses for this category include forecasts of national unemployment and residential property values.

Commercial real estate

Multifamily - Consists of loans secured by commercial multifamily properties. Real estate related to rentals to consumers could provide unique risk and loss characteristics. The primary macroeconomic drivers for estimating credit losses for this category include forecasts of commercial real estate values and rental vacancy.

Nonowner Occupied - Consists of loans secured by commercial real estate non-owner occupied and provides different loss characteristics than other real estate categories. The primary macroeconomic drivers for estimating credit losses for this category include forecasts of national unemployment and economic conditions measured by GDP.

Owner Occupied - Consists of loans secured by commercial real estate owner occupied properties. The risk and loss characteristics of this category were considered different than other real estate categories because it is owner occupied and would impact the ability to conduct business. The primary macroeconomic drivers for estimating credit losses for this category include forecasts of national unemployment and economic conditions measured by GDP.

Loans to individuals

Automobile - Consists of both direct and indirect loans with automobiles and recreational vehicles held as collateral. The primary macroeconomic drivers for estimating credit losses for this category include forecasts of consumer sentiment and automobile retention value.

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Consumer Credit Cards – Consists of unsecured consumer credit cards The primary macroeconomic drivers for estimating credit losses for this category include forecasts of consumer sentiment and economic conditions measured by GDP.

Other Consumer - Consists of lines of credit, student loans and other consumer loans, not secured by real estate or autos. The primary macroeconomic drivers for estimating credit losses for this category include forecasts of consumer sentiment and the level of household debt.

The allowance for credit losses is calculated by pooling loans of similar credit risk characteristics and applying a discounted cash flow methodology after incorporating probability of default and loss given default estimates. Probability of default represents an estimate of the likelihood of default and loss given default measures the expected loss upon default. Inputs impacting the expected losses include a forecast of macroeconomic factors, using a weighted forecast from a nationally recognized firm. Our model incorporates a one-year forecast of macroeconomic factors, after which the factors revert back to the historical mean over a one-year period. The most significant macroeconomic factor used in estimating credit losses is the national unemployment rate. The forecasted value for national unemployment at December 31, 2021 was 4.34% and during the one-year forecast period it was projected to average 4.75%, with a peak of 4.91%.

Credit Quality Information

As part of the on-going monitoring of credit quality within the loan portfolio, the following credit worthiness categories are used in grading our commercial loans:

Pass	Acceptable levels of risk exist in the relationship. Includes all loans not classified as OAEM, substandard or doubtful.
Other Assets Especially Mentioned (OAEM)	Potential weaknesses that deserve management’s close attention. The potential weaknesses may result in deterioration of the repayment prospects or weaken the Bank’s credit position at some future date. The credit risk may be relatively minor, yet constitute an undesirable risk in light of the circumstances surrounding the specific credit. No loss of principal or interest is expected.
Substandard	Well-defined weakness or a weakness that jeopardizes the repayment of the debt. A loan may be classified as substandard as a result of deterioration of the borrower’s financial condition and repayment capacity. Loans for which repayment plans have not been met or collateral equity margins do not protect the Company may also be classified as substandard.
Doubtful	Loans with the characteristics of substandard loans with the added characteristic that collection or liquidation in full, on the basis of presently existing facts and conditions, is highly improbable.

The Company’s internal creditworthiness grading system provides a measurement of credit risk based primarily on an evaluation of the borrower’s cash flow and collateral. Category ratings are reviewed each quarter, at which time management analyzes the results, as well as other external statistics and factors related to loan performance.

The following tables represent our credit risk profile by creditworthiness category for the years ended December 31:

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	2021
			Non-Pass
	Pass		OAEM		Substandard		Doubtful		Loss		Total Non-Pass		Total
	(dollars in thousands)
Commercial, financial, agricultural and other	$	1,121,234	$	33,765	$	18,453	$	—	$	—	$	52,218	$	1,173,452
Time and demand	1,107,306		33,765		18,453		—		—		52,218		1,159,524
Commercial credit cards	13,928		—		—		—		—		—		13,928
Real estate construction	493,913		498		45		—		—		543		494,456
Residential real estate	1,913,064		976		6,210		—		—		7,186		1,920,250
Residential first lien	1,295,524		905		3,105		—		—		4,010		1,299,534
Residential junior lien/home equity	617,540		71		3,105		—		—		3,176		620,716
Commercial real estate	2,113,123		85,324		52,650		—		—		137,974		2,251,097
Multifamily	355,702		14,565		15,165		—		—		29,730		385,432
Nonowner occupied	1,368,922		63,783		32,542		—		—		96,325		1,465,247
Owner occupied	388,499		6,976		4,943		—		—		11,919		400,418
Loans to individuals	999,770		—		205		—		—		205		999,975
Automobile	901,132		—		148		—		—		148		901,280
Consumer credit cards	11,151		—		—		—		—		—		11,151
Consumer other	87,487		—		57		—		—		57		87,544
Total	$	6,641,104	$	120,563	$	77,563	$	—	$	—	$	198,126	$	6,839,230

	2020
			Non-Pass
	Pass		OAEM		Substandard		Doubtful		Loss		Total Non-Pass		Total
	(dollars in thousands)
Commercial, financial, agricultural and other	$	1,491,916	$	48,233	$	15,837	$	—	$	—	$	64,070	$	1,555,986
Time and demand	1,477,312		48,233		15,837		—		—		64,070		1,541,382
Commercial credit cards	14,604		—		—		—		—		—		14,604
Real estate construction	426,663		504		54		—		—		558		427,221
Residential real estate	1,740,992		1,902		7,698		—		—		9,600		1,750,592
Residential first lien	1,138,409		1,780		4,134		—		—		5,914		1,144,323
Residential junior lien/home equity	602,583		122		3,564		—		—		3,686		606,269
Commercial real estate	1,983,258		175,995		52,316		—		—		228,311		2,211,569
Multifamily	369,883		131		1,225		—		—		1,356		371,239
Nonowner occupied	1,216,252		161,336		43,563		—		—		204,899		1,421,151
Owner occupied	397,123		14,528		7,528		—		—		22,056		419,179
Loans to individuals	815,541		—		274		—		—		274		815,815
Automobile	712,539		—		261		—		—		261		712,800
Consumer credit cards	12,360		—		—		—		—		—		12,360
Consumer other	90,642		—		13		—		—		13		90,655
Total	$	6,458,370	$	226,634	$	76,179	$	—	$	—	$	302,813	$	6,761,183

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The following table summarizes the loan risk rating category by loan type including term loans on an amortized cost basis by origination year as of December 31:

	2021
	Term Loans												Revolving Loans
	2021		2020		2019		2018		2017		Prior				Total
	(dollars in thousands)
Time and demand	$	281,244	$	126,403	$	143,030	$	91,118	$	45,442	$	111,127	$	361,160	$	1,159,524
Pass	280,854		125,728		128,080		83,204		31,472		102,399		355,569		1,107,306
OAEM	390		596		1,125		7,780		13,945		7,126		2,803		33,765
Substandard	—		79		13,825		134		25		1,602		2,788		18,453
Commercial credit cards	—		—		—		—		—		—		13,928		13,928
Pass	—		—		—		—		—		—		13,928		13,928
Real estate construction	202,016		129,298		123,153		38,267		441		841		440		494,456
Pass	201,992		128,824		123,153		38,267		441		796		440		493,913
OAEM	24		474		—		—		—		—		—		498
Substandard	—		—		—		—		—		45		—		45
Residential first lien	376,106		375,904		126,788		84,484		74,268		260,010		1,974		1,299,534
Pass	376,095		375,885		126,618		84,079		74,135		256,815		1,897		1,295,524
OAEM	—		—		—		67		—		761		77		905
Substandard	11		19		170		338		133		2,434		—		3,105
Residential junior lien/home equity	56,861		1,999		3,322		2,684		1,009		5,348		549,493		620,716
Pass	56,861		1,999		3,246		2,684		1,009		5,195		546,546		617,540
OAEM	—		—		—		—		—		61		10		71
Substandard	—		—		76		—		—		92		2,937		3,105
Multifamily	90,062		73,068		16,782		36,523		63,872		103,774		1,351		385,432
Pass	90,062		73,068		16,782		21,846		49,832		102,761		1,351		355,702
OAEM	—		—		—		—		14,040		525		—		14,565
Substandard	—		—		—		14,677		—		488		—		15,165
Nonowner occupied	194,137		98,840		202,236		173,053		177,295		615,943		3,743		1,465,247
Pass	194,137		98,840		202,236		155,293		152,174		563,743		2,499		1,368,922
OAEM	—		—		—		3,723		19,235		39,737		1,088		63,783
Substandard	—		—		—		14,037		5,886		12,463		156		32,542
Owner occupied	77,710		62,380		53,954		34,115		32,989		134,713		4,557		400,418
Pass	77,710		59,973		51,513		33,623		31,644		129,593		4,443		388,499
OAEM	—		2,194		1,220		492		1,321		1,716		33		6,976
Substandard	—		213		1,221		—		24		3,404		81		4,943
Automobile	456,730		252,518		122,943		48,375		17,230		3,484		—		901,280
Pass	456,730		252,518		122,867		48,361		17,224		3,432		—		901,132
Substandard	—		—		76		14		6		52		—		148
Consumer credit cards	—		—		—		—		—		—		11,151		11,151
Pass	—		—		—		—		—		—		11,151		11,151
Consumer other	22,156		4,655		8,030		5,084		542		5,503		41,574		87,544
Pass	22,156		4,655		8,030		5,084		542		5,460		41,560		87,487
Substandard	—		—		—		—		—		43		14		57
Total	$	1,757,022	$	1,125,065	$	800,238	$	513,703	$	413,088	$	1,240,743	$	989,371	$	6,839,230

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	2020
	Term Loans												Revolving Loans
	2020		2019		2018		2017		2016		Prior				Total
	(dollars in thousands)
Time and demand	$	598,053	$	193,601	$	142,224	$	72,277	$	74,228	$	83,313	$	377,686	$	1,541,382
Pass	597,405		189,834		140,473		63,137		68,007		65,418		353,038		1,477,312
OAEM	93		3,373		972		8,820		6,182		8,043		20,750		48,233
Substandard	555		394		779		320		39		9,852		3,898		15,837
Commercial credit cards	—		—		—		—		—		—		14,604		14,604
Pass	—		—		—		—		—		—		14,604		14,604
Real estate construction	150,493		133,195		104,167		34,803		389		1,009		3,165		427,221
Pass	150,493		133,195		104,167		34,803		389		709		2,907		426,663
OAEM	—		—		—		—		—		246		258		504
Substandard	—		—		—		—		—		54		—		54
Residential first lien	316,052		184,550		142,823		110,365		91,495		297,057		1,981		1,144,323
Pass	316,028		184,533		142,467		110,260		91,059		292,158		1,904		1,138,409
OAEM	—		—		83		—		100		1,520		77		1,780
Substandard	24		17		273		105		336		3,379		—		4,134
Residential junior lien/home equity	3,055		5,783		4,545		2,005		1,303		7,127		582,451		606,269
Pass	3,055		5,698		4,545		2,005		1,303		6,909		579,068		602,583
OAEM	—		—		—		—		—		112		10		122
Substandard	—		85		—		—		—		106		3,373		3,564
Multifamily	76,249		16,287		69,439		66,963		34,383		106,328		1,590		371,239
Pass	76,249		16,287		69,439		66,963		34,383		104,972		1,590		369,883
OAEM	—		—		—		—		—		131		—		131
Substandard	—		—		—		—		—		1,225		—		1,225
Nonowner occupied	105,861		199,280		161,018		214,915		217,883		518,052		4,142		1,421,151
Pass	105,861		190,301		139,643		181,659		175,148		419,900		3,740		1,216,252
OAEM	—		8,979		21,375		26,339		37,762		66,752		129		161,336
Substandard	—		—		—		6,917		4,973		31,400		273		43,563
Owner occupied	59,519		72,313		61,079		40,796		27,415		152,555		5,502		419,179
Pass	58,551		70,726		55,478		39,351		26,359		141,376		5,282		397,123
OAEM	968		684		4,736		1,421		114		6,572		33		14,528
Substandard	—		903		865		24		942		4,607		187		7,528
Automobile	350,293		202,923		96,355		45,218		14,285		3,726		—		712,800
Pass	350,293		202,827		96,336		45,187		14,255		3,641		—		712,539
Substandard	—		96		19		31		30		85		—		261
Consumer credit cards	—		—		—		—		—		—		12,360		12,360
Pass	—		—		—		—		—		—		12,360		12,360
Consumer other	7,814		14,464		10,752		1,965		711		6,383		48,566		90,655
Pass	7,814		14,464		10,752		1,965		711		6,373		48,563		90,642
Substandard	—		—		—		—		—		10		3		13
Total	$	1,667,389	$	1,022,396	$	792,402	$	589,307	$	462,092	$	1,175,550	$	1,052,047	$	6,761,183

Portfolio Risks

The credit quality of our loan portfolio can potentially represent significant risk to our earnings, capital and liquidity. First Commonwealth devotes a substantial amount of resources managing this risk primarily through our credit administration department that develops and administers policies and procedures for underwriting, maintaining, monitoring and collecting loans. Credit administration is independent of lending departments and oversight is provided by the credit committee of the First Commonwealth Board of Directors.

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Total gross charge-offs for the years ended December 31, 2021 and 2020 were $13.1 million and $19.3 million, respectively.

Age Analysis of Past Due Loans by Segment

The following tables delineate the aging analysis of the recorded investments in past due loans as of December 31. Also included in these tables are loans that are 90 days or more past due and still accruing because they are well-secured and in the process of collection.

	2021
	30 - 59 days past due		60 - 89 days past due		90 days and greater and still accruing		Nonaccrual		Total past due and nonaccrual		Current		Total
	(dollars in thousands)
Commercial, financial, agricultural and other	$	633	$	987	$	155	$	2,006	$	3,781	$	1,169,671	$	1,173,452
Time and demand	605		972		144		2,006		3,727		1,155,797		1,159,524
Commercial credit cards	28		15		11		—		54		13,874		13,928
Real estate construction	813		—		448		45		1,306		493,150		494,456
Residential real estate	3,393		983		218		5,608		10,202		1,910,048		1,920,250
Residential first lien	1,934		354		51		2,706		5,045		1,294,489		1,299,534
Residential junior lien/home equity	1,459		629		167		2,902		5,157		615,559		620,716
Commercial real estate	—		74		—		40,195		40,269		2,210,828		2,251,097
Multifamily	—		—		—		15,097		15,097		370,335		385,432
Nonowner occupied	—		—		—		23,930		23,930		1,441,317		1,465,247
Owner occupied	—		74		—		1,168		1,242		399,176		400,418
Loans to individuals	1,611		417		785		206		3,019		996,956		999,975
Automobile	1,228		175		199		148		1,750		899,530		901,280
Consumer credit cards	36		44		63		—		143		11,008		11,151
Consumer other	347		198		523		58		1,126		86,418		87,544
Total	$	6,450	$	2,461	$	1,606	$	48,060	$	58,577	$	6,780,653	$	6,839,230

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	2020
	30 - 59 days past due		60 - 89 days past due		90 days and greater and still accruing		Nonaccrual		Total past due and nonaccrual		Current		Total
	(dollars in thousands)
Commercial, financial, agricultural and other	$	146	$	62	$	112	$	3,317	$	3,637	$	1,552,349	$	1,555,986
Time and demand	97		28		23		3,317		3,465		1,537,917		1,541,382
Commercial credit cards	49		34		89		—		172		14,432		14,604
Real estate construction	936		—		—		54		990		426,231		427,221
Residential real estate	3,883		1,492		769		6,824		12,968		1,737,624		1,750,592
Residential first lien	1,775		660		267		3,489		6,191		1,138,132		1,144,323
Residential junior lien/home equity	2,108		832		502		3,335		6,777		599,492		606,269
Commercial real estate	237		160		3		35,072		35,472		2,176,097		2,211,569
Multifamily	—		—		—		460		460		370,779		371,239
Nonowner occupied	18		104		—		31,822		31,944		1,389,207		1,421,151
Owner occupied	219		56		3		2,790		3,068		416,111		419,179
Loans to individuals	2,870		852		639		274		4,635		811,180		815,815
Automobile	2,090		417		94		261		2,862		709,938		712,800
Consumer credit cards	52		39		123		—		214		12,146		12,360
Consumer other	728		396		422		13		1,559		89,096		90,655
Total	$	8,072	$	2,566	$	1,523	$	45,541	$	57,702	$	6,703,481	$	6,761,183

Nonaccrual Loans

The previous tables summarize nonaccrual loans by loan segment. The Company generally places loans on nonaccrual status when the full and timely collection of interest or principal becomes uncertain, when part of the principal balance has been charged off and no restructuring has occurred, or the loans reach a certain number of days past due. Generally, loans 90 days or more past due are placed on nonaccrual status, except for consumer loans which are placed in nonaccrual status at 150 days past due.

When a loan is placed on nonaccrual, the accrued unpaid interest receivable is reversed against interest income and all future payments received are applied as a reduction to the loan principal. Generally, the loan is returned to accrual status when (a) all delinquent interest and principal become current under the terms of the loan agreement or (b) the loan is both well-secured and in the process of collection and collectability is no longer in doubt.

Nonperforming Loans

Management considers loans to be nonperforming when, based on current information and events, it is determined that the Company will not be able to collect all amounts due according to the loan contract, including scheduled interest payments. Nonperforming loans includes nonaccrual loans and all troubled debt restructured loans. When management identifies a loan as nonperforming, the credit loss is measured based on the present value of expected future cash flows, discounted at the loan’s effective interest rate, except when the sole source or repayment for the loan is the operation or liquidation of collateral. When the loan is collateral dependent, the appraised value less estimated cost to sell is utilized. If management determines the value of the loan is less than the recorded investment in the loan, a credit loss is recognized through an allowance or a charge-off to the allowance for credit losses.

When the ultimate collectability of the total principal of a nonperforming loan is in doubt and the loan is on nonaccrual status, all payments are applied to principal, under the cost recovery method. When the ultimate collectability of the total principal of a nonperforming loan is not in doubt and the loan is on nonaccrual status, contractual interest is credited to interest income when received under the cash basis method.

There were no nonperforming loan held for sale at December 31, 2021 and one nonperforming loan totaling $13 thousand held for sale as of December 31, 2020. Total gains of $0.4 million on nonperforming loans held for sale during both of the years

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ended December 31, 2021 and 2019. There were no gains on sale of nonperforming loans recognized during the year ended December 31, 2020.

The following tables include the recorded investment and unpaid principal balance for nonperforming loans with the associated allowance amount, if applicable, as of December 31, 2021 and 2020. Also presented are the average recorded investment in nonperforming loans and the related amount of interest recognized while the loan was considered nonperforming for the years ended December 31, 2021, 2020 and 2019. Average balances are calculated based on month-end balances of the loans for the period reported and are included in the table below based on its period end allowance position.

	2021
	Recorded investment		Unpaid principal balance		Related specific allowance		Average recorded investment		Interest Income Recognized
	(dollars in thousands)
With no related specific allowance recorded:
Commercial, financial, agricultural and other	$	3,720	$	10,303			$	9,240	$	389
Time and demand	3,720		10,303				9,240		389
Real estate construction	45		53				53		—
Residential real estate	9,365		11,294				10,315		375
Residential first lien	5,200		6,337				5,674		279
Residential junior lien/home equity	4,165		4,957				4,641		96
Commercial real estate	40,591		41,525				26,235		119
Multifamily	14,677		14,677				1,223		—
Nonowner occupied	24,581		25,310				22,668		28
Owner occupied	1,333		1,538				2,344		91
Loans to individuals	446		485				479		15
Automobile	388		422				425		15
Consumer other	58		63				54		—
Subtotal	54,167		63,660				46,322		898
With a specific allowance recorded:
Commercial, financial, agricultural and other	327		349		307		84		—
Time and demand	327		349		307		84		—
Real estate construction	—		—		—		—		—
Residential real estate	—		—		—		—		—
Residential first lien	—		—		—		—		—
Residential junior lien/home equity	—		—		—		—		—
Commercial real estate	686		711		88		665		—
Multifamily	421		446		88		444		—
Nonowner occupied	—		—		—		—		—
Owner occupied	265		265		—		221		—
Loans to individuals	—		—		—		—		—
Automobile	—		—		—		—		—
Consumer other	—		—		—		—		—
Subtotal	1,013		1,060		395		749		—
Total	$	55,180	$	64,720	$	395	$	47,071	$	898

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	2020
	Recorded investment		Unpaid principal balance		Related specific allowance		Average recorded investment		Interest Income Recognized
	(dollars in thousands)
With no related specific allowance recorded:
Commercial, financial, agricultural and other	$	2,025	$	2,725			$	6,371	$	80
Time and demand	2,025		2,725				6,371		80
Real estate construction	54		53				146		14
Residential real estate	10,939		13,258				11,913		335
Residential first lien	6,062		7,575				6,605		241
Residential junior lien/home equity	4,877		5,683				5,308		94
Commercial real estate	20,650		23,641				22,287		184
Multifamily	1		82				1		—
Nonowner occupied	16,786		19,459				18,536		82
Owner occupied	3,863		4,100				3,750		102
Loans to individuals	418		447				470		13
Automobile	405		430				447		13
Consumer other	13		17				23		—
Subtotal	34,086		40,124				41,187		626
With a specific allowance recorded:
Commercial, financial, agricultural and other	4,210		9,377		1,268		1,544		3
Time and demand	4,210		9,377		1,268		1,544		3
Real estate construction	—		—		—		—		—
Residential real estate	—		—		—		—		—
Residential first lien	—		—		—		—		—
Residential junior lien/home equity	—		—		—		—		—
Commercial real estate	15,757		15,830		3,638		7,997		10
Multifamily	459		470		116		395		—
Nonowner occupied	15,060		15,122		3,508		7,363		—
Owner occupied	238		238		14		239		10
Loans to individuals	—		—		—		—		—
Automobile	—		—		—		—		—
Consumer other	—		—		—		—		—
Subtotal	19,967		25,207		4,906		9,541		13
Total	$	54,053	$	65,331	$	4,906	$	50,728	$	639

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	2019
	Originated				Acquired
	Average recorded investment		Interest Income Recognized		Average recorded investment		Interest Income Recognized
	(dollars in thousands)
With no related specific allowance recorded:
Commercial, financial, agricultural and other	$	2,411	$	66	$	2,479	$	—
Real estate construction	—		—		—		—
Residential real estate	10,819		365		1,986		8
Commercial real estate	7,455		156		747		18
Loans to individuals	371		17		13		—
Subtotal	21,056		604		5,225		26
With a specific allowance recorded:
Commercial, financial, agricultural and other	4,110		77		—		—
Real estate construction	—		—		—		—
Residential real estate	241		—		—		—
Commercial real estate	1,747		3		—		—
Loans to individuals	—		—		—		—
Subtotal	6,098		80		—		—
Total	$	27,154	$	684	$	5,225	$	26

Unfunded commitments related to nonperforming loans were $0.2 million at both December 31, 2021 and 2020. After considering the collateral related to these commitments, there was no reserve established as of December 31, 2021. A reserve of $26 thousand was held for these off balance sheet exposures at December 31, 2020.

Troubled debt restructured loans are those loans whose terms have been renegotiated to provide a reduction or deferral of principal or interest as a result of the financial difficulties experienced by the borrower, who could not obtain comparable terms from alternate financing sources. Troubled debt restructured loans are considered to be nonperforming loans.

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In March 2020, the Company began offering short-term loan modifications to assist borrowers during the COVID-19 national emergency. These modifications typically provide for the deferral of both principal and interest for 90 days. The CARES Act, along with a joint agency statement issued by banking regulators, provides that short-term modifications, meeting certain criteria and in response to COVID-19, do not need to be accounted for as a troubled debt restructured loans. Additionally, short-term loan modifications that are not accounted for as a troubled debt restructured loan, in accordance with the CARES Act, would remain classified as current during the deferral period and therefore are not reflected in the past due loan tables provided on the prior page. As of December 31, 2021, loans with an aggregate balance $6.2 million were in a forbearance period granted under the CARES Act.

The following table provides detail as to the total troubled debt restructured loans and total commitments outstanding on troubled debt restructured loans as of December 31:

	2021		2020		2019
	(dollars in thousands)
Troubled debt restructured loans
Accrual status	$	7,120	$	8,512	$	7,542
Nonaccrual status	13,134		14,740		6,037
Total	$	20,254	$	23,252	$	13,579
Commitments
Letters of credit	$	60	$	60	$	60
Unused lines of credit	16		11		163
Total	$	76	$	71	$	223

The following tables provide detail, including specific reserve and reasons for modification, related to loans identified as troubled debt restructurings during the years ending December 31:

	2021
		Type of Modification
	Number of Contracts	Extend Maturity		Modify Rate		Modify Payments		Total Pre-Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Specific Reserve
	(dollars in thousands)
Commercial, financial, agricultural and other	6	$	—	$	—	$	7,893	$	7,893	$	288	$	—
Time and demand	6	—		—		7,893		7,893		288		—
Residential real estate	15	—		359		301		660		624		—
Residential first lien	12	—		359		171		530		502		—
Residential junior lien/home equity	3	—		—		130		130		122		—
Commercial real estate	2	—		—		644		644		634		—
Nonowner occupied	2	—		—		644		644		634		—
Owner occupied	—	—		—		—		—		—		—
Loans to individuals	7	—		110		63		173		144		—
Automobile	7	$	—	$	110	$	63	173		$	144	$	—
Total	30	$	—	$	469	$	8,901	$	9,370	$	1,690	$	—

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	2020
		Type of Modification
	Number of Contracts	Extend Maturity		Modify Rate		Modify Payments		Total Pre-Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Specific Reserve
	(dollars in thousands)
Commercial, financial, agricultural and other	4	$	—	$	629	$	2,176	$	2,805	$	2,196	$	636
Time and demand	4	—		629		2,176		2,805		2,196		636
Residential real estate	18	—		33		917		950		791		—
Residential first lien	9	—		33		513		546		411		—
Residential junior lien/home equity	9	—		—		404		404		380		—
Commercial real estate	5	—		—		10,857		10,857		10,758		—
Nonowner occupied	4	—		—		10,289		10,289		10,263		—
Owner occupied	1	—		—		568		568		495		—
Loans to individuals	14	—		114		148		262		224		—
Automobile	14	$	—	$	114	$	148	$	262	224		$	—
Total	41	$	—	$	776	$	14,098	$	14,874	$	13,969	$	636

	2019
		Type of Modification
	Number of Contracts	Extend Maturity		Modify Rate		Modify Payments		Total Pre-Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Specific Reserve
	(dollars in thousands)
Commercial, financial, agricultural and other	2	$	—	$	—	$	156	$	156	$	154	$	—
Residential real estate	20	17		204		965		1,186		1,059		—
Commercial real estate	5	—		556		6,261		6,817		594		—
Loans to individuals	11	—		—		143		143		121		—
Total	38	$	17	$	760	$	7,525	$	8,302	$	1,928	$	—

The troubled debt restructurings included in the above tables are also included in the nonperforming loan tables provided earlier in this footnote. Loans defined as modified due to a change in rate include loans that were modified for a change in rate as well as a re-amortization of the principal and an extension of the maturity. For the years ended December 31, 2021, 2020 and 2019, $0.4 million, $0.8 million and $0.8 million, respectively, of total rate modifications represent loans with modifications to the rate as well as payment due to re-amortization. In 2021 and 2019, the change between the pre-modification and post-modification balance for commercial real estate loans is primarily due to the payoff of one large commercial relationship that restructured during the year. For 2020, the changes in loan balances between the pre-modification balance and post-modification balance are due to customer payments.

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A troubled debt restructuring is considered to be in default when a restructured loan is 90 days or more past due. The following table provides information related to loans that were restructured within the past twelve months and that were considered to be in default during the year ending December 31:

	2021			2020			2019
	Number of Contracts	Recorded Investment		Number of Contracts	Recorded Investment		Number of Contracts	Recorded Investment
	(dollars in thousands)
Commercial, financial, agricultural and other	1	$	223	—	$	—	—	$	—
Time and demand	1	223		—	—
Residential real estate	—	$	—	1	34		—	—
Residential junior lien/home equity	—	—		1	34
Loans to individuals	1	21		2	74		—	—
Automobile	1	21		2	74
Total	2	$	244	3	$	108	—	$	—

The following tables provide detail related to the allowance for credit losses for the years ended December 31.

	2021
	Beginning balance		Charge-offs		Recoveries		Provision (credit)a		Ending balance
	(dollars in thousands)
Commercial, financial, agricultural and other	$	17,187	$	(7,020)	$	2,430	$	5,496	$	18,093
Time and demand	16,838		(6,845)		2,412		5,441		17,846
Commercial credit cards	349		(175)		18		55		247
Real estate construction	7,966		(9)		155		(3,892)		4,220
Residential real estate	14,358		(309)		468		(1,892)		12,625
Residential first liens	7,919		(60)		337		(737)		7,459
Residential junior liens/home equity	6,439		(249)		131		(1,155)		5,166
Commercial real estate	41,953		(1,659)		135		(7,053)		33,376
Multifamily	6,240		(1)		—		(2,678)		3,561
Nownowner occupied	28,414		(1,556)		125		(2,145)		24,838
Owner occupied	7,299		(102)		10		(2,230)		4,977
Loans to individuals	19,845		(4,061)		1,460		6,964		24,208
Automobile	16,133		(1,792)		1,016		6,035		21,392
Consumer credit cards	635		(425)		71		215		496
Consumer other	3,077		(1,844)		373		714		2,320
Total	$	101,309	$	(13,058)	$	4,648	$	(377)	$	92,522

a) The provision (credit) shown here excludes the provision for off-balance sheet credit exposure included in the income statement.

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	December 31, 2021
							Loans
	Ending balance		Ending balance: individually evaluated for credit losses		Ending balance: collectively evaluated for credit losses		Ending balance		Ending balance: individually evaluated for credit losses		Ending balance: collectively evaluated for credit losses
	(dollars in thousands)
Commercial, financial, agricultural and other	$	18,093	$	307	$	17,786	$	1,173,452	$	3,032	$	1,170,420
Time and demand	17,846		307		17,539		1,159,524		3,032		1,156,492
Commercial credit cards	247		—		247		13,928		—		13,928
Real estate construction	4,220		—		4,220		494,456		—		494,456
Residential real estate	12,625		—		12,625		1,920,250		253		1,919,997
Residential first liens	7,459		—		7,459		1,299,534		—		1,299,534
Residential junior liens/home equity	5,166		—		5,166		620,716		253		620,463
Commercial real estate	33,376		88		33,288		2,251,097		40,246		2,210,851
Multifamily	3,561		88		3,473		385,432		15,097		370,335
Nownowner occupied	24,838		—		24,838		1,465,247		24,205		1,441,042
Owner occupied	4,977		—		4,977		400,418		944		399,474
Loans to individuals	24,208		—		24,208		999,975		—		999,975
Automobile	21,392		—		21,392		901,280		—		901,280
Consumer credit cards	496		—		496		11,151		—		11,151
Consumer other	2,320		—		2,320		87,544		—		87,544
Total	$	92,522	$	395	$	92,127	$	6,839,230	$	43,531	$	6,795,699

	2020
	Beginning balance		Impact of adoption of CECL		Charge-offs		Recoveries		Provision (credit)a		Ending balance
	(dollars in thousands)
Commercial, financial, agricultural and other	$	20,234	$	1,478	$	(6,318)	$	314	$	1,479	$	17,187
Time and demand	—		21,242		(6,220)		301		1,515		16,838
Commercial credit cards	—		470		(98)		13		(36)		349
Real estate construction	2,558		562		—		26		4,820		7,966
Residential real estate	4,093		7,276		(1,040)		414		3,615		14,358
Residential first liens	—		7,326		(550)		296		847		7,919
Residential junior liens/home equity	—		4,043		(490)		118		2,768		6,439
Commercial real estate	19,768		(207)		(4,939)		312		27,019		41,953
Multifamily	—		1,647		—		—		4,593		6,240
Nownowner occupied	—		12,317		(4,678)		187		20,588		28,414
Owner occupied	—		5,597		(261)		125		1,838		7,299
Loans to individuals	4,984		4,284		(6,953)		991		16,539		19,845
Automobile	—		6,106		(3,954)		745		13,236		16,133
Consumer credit cards	—		221		(595)		36		973		635
Consumer other	—		2,941		(2,404)		210		2,330		3,077
Total	$	51,637	$	13,393	$	(19,250)	$	2,057	$	53,472	$	101,309

a) The provision (credit) shown here excludes the provision for off-balance sheet credit exposure included in the income statement.

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	December 31, 2020
							Loans
	Ending balance		Ending balance: individually evaluated for credit losses		Ending balance: collectively evaluated for credit losses		Ending balance		Ending balance: individually evaluated for credit losses		Ending balance: collectively evaluated for credit losses
	(dollars in thousands)
Commercial, financial, agricultural and other	$	17,187	$	1,268	$	15,919	$	1,555,986	$	5,411	$	1,550,575
Time and demand	16,838		1,268		15,570		1,541,382		5,411		1,535,971
Commercial credit cards	349		—		349		14,604		—		14,604
Real estate construction	7,966		—		7,966		427,221		—		427,221
Residential real estate	14,358		—		14,358		1,750,592		1,105		1,749,487
Residential first liens	7,919		—		7,919		1,144,323		528		1,143,795
Residential junior liens/home equity	6,439		—		6,439		606,269		577		605,692
Commercial real estate	41,953		3,638		38,315		2,211,569		34,947		2,176,622
Multifamily	6,240		116		6,124		371,239		459		370,780
Nownowner occupied	28,414		3,508		24,906		1,421,151		31,450		1,389,701
Owner occupied	7,299		14		7,285		419,179		3,038		416,141
Loans to individuals	19,845		—		19,845		815,815		—		815,815
Automobile	16,133		—		16,133		712,800		—		712,800
Consumer credit cards	635		—		635		12,360		—		12,360
Consumer other	3,077		—		3,077		90,655		—		90,655
Total	$	101,309	$	4,906	$	96,403	$	6,761,183	$	41,463	$	6,719,720

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	2019
	Commercial, financial, agricultural and other		Real estate construction		Residential real estate		Commercial real estate		Loans to individuals		Total
	(dollars in thousands)
Allowance for credit losses:
Originated Loans:
Beginning balance	$	19,235	$	2,002	$	3,934	$	18,382	$	4,033	$	47,586
Charge-offs	(2,667)		—		(986)		(632)		(5,747)		(10,032)
Recoveries	245		158		246		189		611		1,449
Provision (credit)	3,408		398		897		1,792		6,087		12,582
Ending balance	20,221		2,558		4,091		19,731		4,984		51,585
Acquired Loans:
Beginning balance	139		—		35		4		—		178
Charge-offs	(726)		—		(56)		(1,376)		(84)		(2,242)
Recoveries	81		—		69		—		15		165
Provision (credit)	519		—		(46)		1,409		69		1,951
Ending balance	13		—		2		37		—		52
Total ending balance	$	20,234	$	2,558	$	4,093	$	19,768	$	4,984	$	51,637
Ending balance: individually evaluated for impairment	$	1,580	$	—	$	1	$	851	$	—	$	2,432
Ending balance: collectively evaluated for impairment	18,654		2,558		4,092		18,917		4,984		49,205
Loans:
Ending balance	1,241,853		449,039		1,681,362		2,117,519		699,375		6,189,148
Ending balance: individually evaluated for impairment	9,246		—		1,741		6,846		—		17,833
Ending balance: collectively evaluated for impairment	1,232,607		449,039		1,679,621		2,110,673		699,375		6,171,315

Note 9—Commitments and Letters of Credit

First Commonwealth is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financial needs of its customers. These financial instruments include commitments to extend credit, standby letters of credit and commercial letters of credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the Consolidated Statements of Financial Condition. First Commonwealth’s exposure to credit loss in the event of nonperformance by the other party of the financial instrument for commitments to extend credit, standby letters of credit and commercial letters of credit is represented by the contract or notional amount of those instruments. First Commonwealth uses the same credit policies for underwriting all loans, including these commitments and conditional obligations.

As of December 31, 2021 and 2020, First Commonwealth did not own or trade other financial instruments with significant off-balance sheet risk including derivatives such as futures, forwards, option contracts and the like, although such instruments may be appropriate to use in the future to manage interest rate risk. See Note 6, “Derivatives,” for a description of interest rate derivatives entered into by First Commonwealth.

Standby letters of credit and commercial letters of credit are conditional commitments issued by First Commonwealth to guarantee the performance of a customer to a third party. The contract or notional amount of these instruments reflects the maximum amount of future payments that First Commonwealth could be required to pay under the guarantees if there were a total default by the guaranteed parties, without consideration for possible recoveries under recourse provisions or from collateral held or pledged. In addition, many of these commitments are expected to expire without being drawn upon; therefore, the total commitment amounts do not necessarily represent future cash requirements.

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The following table identifies the notional amount of those instruments at December 31:

	2021		2020
	(dollars in thousands)
Financial instruments whose contract amounts represent credit risk:
Commitments to extend credit	$	2,353,991	$	2,097,628
Financial standby letters of credit	18,824		15,988
Performance standby letters of credit	10,663		16,864
Commercial letters of credit	975		783

Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. First Commonwealth evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by First Commonwealth upon extension of credit, is based on management’s credit evaluation of the counterparty. Collateral that is held varies but may include accounts receivable, inventory, property, plant and equipment, and residential and income-producing commercial properties.

The notional amounts outstanding at December 31, 2021 include amounts issued in 2021 of $0.3 million in financial standby letters of credit and $2.7 million in performance standby letters of credit. There were no commercial letters of credit issued during 2021. A liability of $0.1 million has been recorded as of December 31, 2021 and 2020, which represents the estimated fair value of letters of credit issued. The fair value of letters of credit is estimated based on the unrecognized portion of fees received at the time the commitment was issued.

Unused commitments and letters of credit provide exposure to future credit loss in the event of nonperformance by the borrower or guaranteed parties. Management’s evaluation of the credit risk in these commitments resulted in the recording of a liability of $6.4 million and $7.4 million as of December 31, 2021 and 2020, respectively. This liability is reflected in “Other liabilities” in the Consolidated Statements of Financial Condition. The credit risk evaluation incorporates the expected loss percentage calculated for comparable loan categories as part of the allowance for credit losses for loans.

Note 10—Premises, Equipment and Lease Commitments

Premises and Equipment

Premises and equipment are described as follows:

	Estimated Useful Life	2021		2020
	(dollars in thousands)
Land	Indefinite	$	14,621	$	15,441
Buildings and improvements	10-50 years	75,149		77,003
Operating lease right of use asset	1-25 years	47,938		48,642
Leasehold improvements	5-40 years	35,909		35,347
Furniture and equipment	3-7 years	73,976		73,150
Software	3-7 years	43,511		41,681
Subtotal		291,104		291,264
Less accumulated depreciation and amortization		170,329		165,747
Total premises and equipment, net		$	120,775	$	125,517

Depreciation related to premises and equipment included in noninterest expense for the years ended December 31, 2021, 2020 and 2019 amounted to $9.9 million, $10.9 million and $10.5 million, respectively. Amortization of lease right-of-use assets totaled $1.4 million in 2021 and $2.6 million in 2020.

At December 31, 2021 and December 31, 2020, $1.9 million and $2.6 million, respectively, in premise and equipment assets were considered available for sale as a result of the 2020 branch consolidation initiative.

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Lease Commitments

First Commonwealth has elected to apply certain practical expedients under ASU 2016-02 "Leases" (Topic 842), including (i) to not apply the requirements in the new standard to short-term leases (ii) to not reassess the lease classification for any expired or existing lease (iii) to account for lease and non-lease components separately (iv) to not reassess initial direct costs for any existing leases. The impact of this standard primarily relates to operating leases of certain real estate properties, primarily certain branch and ATM locations and office space. First Commonwealth has no material leasing arrangements for which it is the lessor of property or equipment.

The following table represents the lease costs and other lease information for the years ended December 31.

	2021			2020
	(dollars in thousands)
Balance sheet:
Operating lease asset classified as premises and equipment	$	40,550		$	42,617
Operating lease liability classified as other liabilities	44,801			46,819
Income statement:
Operating lease cost classified as occupancy and equipment expense	$	4,806		$	5,930
Weighted average lease term, in years	14.11			14.83
Weighted average discount rate	3.24		%	3.42		%
Operating cash flows	$	4,753		$	5,979

The ROU assets and lease liabilities are impacted by the length of the lease term and the discount rate used to present value the minimum lease payments. First Commonwealth's lease agreements often include one or more options to renew at the Company's discretion. If we consider the renewal option to be reasonably certain, we include the extended term in the calculation of the ROU asset and lease liability.

First Commonwealth uses incremental borrowing rates when calculating the lease liability because the rate implicit in the lease is not readily determinable. The incremental borrowing rate used by First Commonwealth is an amortizing loan rate obtained from the Federal Home Loan Bank ("FHLB") of Pittsburgh. This rate is consistent with a collateralized borrowing rate and is available for terms similar to the lease payment schedules.

The following table reconciles future minimum lease payments due under non-cancelable operating leases (those amounts subject to recognition) to the lease liability as of December 31, 2021 (dollars in thousands):

For the twelve months ended December 31,
2022	$	4,667
2023	4,622
2024	4,481
2025	4,261
2026	3,844
Thereafter	35,207
Total future minimum lease payments	57,082
Less remaining imputed interest	12,281
Operating lease liability	$	44,801

Rent expense, net of rental income, for all operating leases totaled $4.5 million in 2021, $6.7 million in 2020 and $4.9 million in 2019. Rent expense includes amounts related to items that are not included in the determination of lease right-of-use assets including expenses related to short-term leases and non-lease components such as taxes, insurance, and common area maintenance costs.

Note 11—Goodwill and Other Intangible Assets

FASB ASC Topic 350-20, “Intangibles—Goodwill and Other" ("Topic 350"), requires an annual valuation of the fair value of a reporting unit that has goodwill and a comparison of the fair value to the book value of equity to determine whether the

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goodwill has been impaired. Goodwill is also required to be tested on an interim basis if an event or circumstance indicates that it is more likely than not that an impairment loss has been incurred. When circumstances indicate that it is more likely than not that fair value is less than carrying value, a triggering event has occurred and a quantitative impairment test would be performed.

We consider First Commonwealth to be one reporting unit. The carrying amount of goodwill as of December 31, 2021 and 2020 was $303.3 million. No impairment charges on goodwill or other intangible assets were incurred in 2021, 2020 or 2019.

We test goodwill for impairment as of November 30th each year and again at any quarter-end if any material events occur during a quarter that may affect goodwill.

As of December 31, 2021, goodwill was not considered impaired; however, changing economic conditions that may adversely affect our performance, the fair value of our assets and liabilities, or our stock price could result in impairment, which could adversely affect earnings in future periods. Management will continue to monitor events that could impact this conclusion in the future.

Topic 350 also requires that an acquired intangible asset be separately recognized if the benefit of the intangible asset is obtained through contractual or other legal rights, or if the asset can be sold, transferred, licensed, rented or exchanged, regardless of the acquirer’s intent to do so.

The following table summarizes other intangible assets:

	Gross Intangible Assets		Accumulated Amortization		Net Intangible Assets
	(dollars in thousands)
December 31, 2021
Customer deposit intangibles	$	22,573	$	(14,407)	$	8,166
Customer list intangible	2,283		(1,762)		521
Total other intangible assets	$	24,856	$	(16,169)	$	8,687
December 31, 2020
Customer deposit intangibles	$	22,573	$	(11,653)	$	10,920
Customer list intangible	2,283		(1,570)		713
Total other intangible assets	$	24,856	$	(13,223)	$	11,633

Core deposits are amortized over their expected lives using the present value of the benefit of the core deposits and straight-line methods of amortization. The core deposits have a remaining amortization period of 7.7 years and a weighted average amortization period of approximately 6.2 years. The customer list intangible represents the estimated value of the customer base for an insurance agency acquired in 2014 and the wealth management business acquired as part of the DCB acquisition in 2017. These amounts are amortized over their expected lives using expected cash flows based on retention of the customer base. The customer list intangible has a remaining amortization period of 7.7 years and a weighted average amortization period of 5.9 years. First Commonwealth recognized amortization expense on other intangible assets of $2.9 million, $3.4 million, and $3.2 million for the years ended December 31, 2021, 2020 and 2019, respectively.

In addition to customer deposit intangibles and customer list intangibles, First Commonwealth has servicing rights on mortgage loans as well as certain commercial loans totaling $2.5 million and $1.9 million as of December 31, 2021 and 2020, respectively. These servicing rights relate to loans sold to third parties on which the Company retains servicing responsibilities. The Company recognized amortization expense on these servicing assets of $0.6 million and $0.3 million for the years ended December 31, 2021 and 2020, respectively.

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The following presents the estimated amortization expense of core deposit and customer list intangibles:

	Core Deposit Intangibles		Customer List Intangible		Total
	(dollars in thousands)
2022	$	2,343	$	159	$	2,502
2023	1,932		128		2,060
2024	1,522		97		1,619
2025	1,112		69		1,181
2026	702		42		744
Thereafter	555		26		581
Total	$	8,166	$	521	$	8,687

looks Note 12—Interest-Bearing Deposits

Components of interest-bearing deposits at December 31 were as follows:

	2021		2020
	(dollars in thousands)
Interest-bearing demand deposits	$	291,476	$	250,353
Savings deposits	4,647,197		4,305,391
Time deposits	385,043		562,964
Total interest-bearing deposits	$	5,323,716	$	5,118,708

Interest-bearing deposits at both December 31, 2021 and 2020 include allocations from interest-bearing demand deposit accounts of $1.2 billion into savings, which includes money market accounts. These allocations are based on a formula and were made to reduce First Commonwealth’s reserve requirement in compliance with regulatory guidelines. Deposits totaling $0.6 million and $0.7 million at December 31, 2021 and 2020, respectively, were reclassified from deposits to loans due to their overdrawn status.

Included in time deposits at December 31, 2021 and 2020 were certificates of deposit in denominations of $250 thousand or more of $51.7 million and $93.1 million, respectively.

Interest expense related to certificates of deposit in denominations of $250 thousand or greater amounted to $0.4 million in 2021, $2.0 million in 2020 and $3.3 million in 2019.

Included in time deposits at December 31, 2021, were certificates of deposit with the following scheduled maturities (dollars in thousands):

2022	$	276,014
2023	50,607
2024	25,370
2025	12,814
2026 and thereafter	20,238
Total	$	385,043

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Note 13—Short-term Borrowings

Short-term borrowings at December 31 were as follows:

	2021						2020						2019
	Ending Balance		Average Balance		Average Rate		Ending Balance		Average Balance		Average Rate		Ending Balance		Average Balance		Average Rate
	(dollars in thousands)
Federal funds purchased	$	—	$	—	—	%	$	—	$	4,147	1.06	%	$	—	$	8,069	2.53	%
Borrowings from FHLB	—		—		—		—		28,252		1.54		136,200		278,930		2.62
Securities sold under agreements to repurchase	138,315		119,801		0.08		117,373		110,235		0.21		65,653		104,548		0.75
Total	$	138,315	$	119,801	0.08		$	117,373	$	142,634	0.49		$	201,853	$	391,547	2.12
Maximum total at any month-end	$	138,315					$	248,471					$	670,831
Weighted average rate at year-end					0.06	%					0.10	%					1.41	%

Interest expense on short-term borrowings for the years ended December 31 is detailed below:

	2021		2020		2019
	(dollars in thousands)
Federal funds purchased	$	—	$	44	$	204
Borrowings from FHLB	—		434		7,313
Securities sold under agreements to repurchase	99		226		781
Total interest on short-term borrowings	$	99	$	704	$	8,298

Note 14—Subordinated Debentures

Subordinated debentures outstanding at December 31 are as follows:

			2021		2020
	Due	Rate	Amount		Amount
			(dollars in thousands)
Owed to:
First Commonwealth Bank	06/01/2028	4.875% until June 1, 2023, then 3-Month LIBOR + 1.845%	$	49,407	$	49,314
First Commonwealth Bank	06/01/2033	5.50% until June 1, 2028, then 3-Month LIBOR +2.37%	49,201		49,131
First Commonwealth Capital Trust II	01/23/2034	3-Month LIBOR + 2.85%	30,929		30,929
First Commonwealth Capital Trust III	04/06/2034	3-Month LIBOR + 2.85%	41,238		41,238
Total			$	170,775	$	170,612

On May 21, 2018, First Commonwealth Bank issued ten-year subordinated notes with an aggregate principal amount of $50.0 million and a fixed-to-floating rate of 4.875%. The rate remains fixed until June 1, 2023, then adjusts on a quarterly basis to three-month LIBOR + 1.845%. The Bank may redeem the notes, beginning with the interest payment due on June 1, 2023, in whole or in part at a redemption price equal to 100% of the principal amount of the subordinated notes, plus accrued and unpaid interest to the date of redemption. Deferred issuance costs of $0.9 million are being amortized on a straight-line basis over the term of the notes.

On May 21, 2018, First Commonwealth Bank also issued fifteen-year subordinated notes with an aggregate principal amount of $50.0 million and a fixed-to-floating rate of 5.50%. The rate remains fixed until June 1, 2028, then adjusts on a quarterly basis to three-month LIBOR + 2.37%. The Bank may redeem the notes, beginning with the interest payment due on June 1, 2028, in whole or in part at a redemption price equal to 100% of the principal amount of the subordinated notes, plus accrued and unpaid interest to the date of redemption. Deferred issuance costs of $1.1 million are being amortized on a straight-line basis over the term of the notes.

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First Commonwealth currently has two trusts, First Commonwealth Capital Trust II and First Commonwealth Capital Trust III, of which 100% of the common equity is owned by First Commonwealth. The trusts were formed for the purpose of issuing company obligated mandatorily redeemable capital securities to third-party investors and investing the proceeds from the sale of the capital securities solely in junior subordinated debt securities (“subordinated debentures”) of First Commonwealth. The subordinated debentures held by each trust are the sole assets of the trust.

Interest on the debentures issued to First Commonwealth Capital Trust III is paid quarterly at a floating rate of three-month LIBOR + 2.85% which is reset quarterly. Subject to regulatory approval, First Commonwealth may redeem the debentures, in whole or in part, at its option on any interest payment date at a redemption price equal to 100% of the principal amount of the debentures, plus accrued and unpaid interest to the date of the redemption. Deferred issuance costs of $0.6 million are being amortized on a straight-line basis over the term of the securities.

Interest on the debentures issued to First Commonwealth Capital Trust II is paid quarterly at a floating rate of three-month LIBOR + 2.85%, which is reset quarterly. Subject to regulatory approval, First Commonwealth may redeem the debentures, in whole or in part, at its option at a redemption price equal to 100% of the principal amount of the debentures, plus accrued and unpaid interest to the date of the redemption. Deferred issuance costs of $0.5 million are being amortized on a straight-line basis over the term of the securities.

Note 15—Other Long-term Debt

Other long-term debt at December 31 follows:

	2021				2020
	Amount		Weighted Average Contractual Rate		Amount		Weighted Average Contractual Rate
	(dollars in thousands)
Borrowings from FHLB due:
2021					$	50,685	2.32	%
2022	$	712	3.85	%	712		3.85
2023	739		3.86		739		3.86
2024	769		3.86		769		3.86
2025	799		3.86		799		3.86
2026	830		3.87
Thereafter	1,724		3.68		2,554		3.74
Total	$	5,573			$	56,258

The weighted average contractual rate reflects the rate due to creditors. The weighted average effective rate of long-term debt is equal to the weighted average contractual rate.

All of First Commonwealth’s Federal Home Loan Bank stock, along with an interest in mortgage loans and residential mortgage backed securities, has been pledged as collateral with the Federal Home Loan Bank of Pittsburgh.

Capital securities included in total long-term debt on the Consolidated Statements of Financial Condition are excluded from the above, but are described in Note 14, “Subordinated Debentures.”

Note 16—Fair Values of Assets and Liabilities

FASB ASC Topic 820, “Fair Value Measurements and Disclosures,” requires disclosures for non-financial assets and non-financial liabilities, except for items that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least annually). All non-financial assets are included either as a separate line item on the Consolidated Statements of Financial Condition or in the “Other assets” category of the Consolidated Statements of Financial Condition. Currently, First Commonwealth does not have any non-financial liabilities to disclose.

FASB ASC Topic 825, “Financial Instruments" ("Topic 825"), permits entities to irrevocably elect to measure select financial instruments and certain other items at fair value. The unrealized gains and losses are required to be included in earnings each reporting period for the items that fair value measurement is elected. First Commonwealth has elected not to measure any

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existing financial instruments at fair value under Topic 825; however, in the future we may elect to adopt this guidance for select financial instruments.

In accordance with Topic 820, First Commonwealth groups financial assets and financial liabilities measured at fair value in three levels, based on the principal markets in which the assets and liabilities are transacted and the observability of the data points used to determine fair value. These levels are defined in Note 1, "Statement of Accounting Policies."

Level 2 investment securities are valued by a recognized third party pricing service using observable inputs. The model used by the pricing service varies by asset class and incorporates available market, trade and bid information as well as cash flow information when applicable. Because many fixed-income investment securities do not trade on a daily basis, the model uses available information such as benchmark yield curves, benchmarking of like investment securities, sector groupings and matrix pricing. The model will also use processes such as an option-adjusted spread to assess the impact of interest rates and to develop prepayment estimates. Market inputs normally used in the pricing model include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data including market research publications.

Management validates the market values provided by the third party service by having another source price 100% of the securities on a monthly basis, monthly monitoring of variances from prior period pricing and, on a monthly basis, evaluating pricing changes compared to expectations based on changes in the financial markets.

Other Investments include FHLB stock whose estimated fair value is based on its par value. Additional information on FHLB stock is provided in Note 7, “Investment Securities.”

Loans held for sale include residential mortgage loans originated for sale in the secondary mortgage market. The estimated fair value for these loans was determined on the basis of rates obtained in the respective secondary market. Loans held for sale could also include the Small Business Administration guaranteed portion of small business loans. The estimated fair value of these loans is based on the contract with the third party investor.

During the third quarter of 2020, the company announced the consolidation of 29 branch locations into nearby offices prior to December 31, 2020. As a result, 17 owned locations were moved to held for sale and are being carried at the lower of cost or fair value. At December 31, 2021, three locations were remaining in held for sale, all of which were being carried at cost. At December 31, 2020, four of these locations were carried at fair value, determined by an independent market-based appraisal less estimated costs to sell, and are classified as Level 2.

Interest rate derivatives are reported at estimated fair value utilizing Level 2 inputs and are included in "Other assets" and "Other liabilities" in the Consolidated Statements of Financial Condition. These consist of interest rate swaps where there is no significant deterioration in the counterparties' (loan customers') credit risk since origination of the interest rate swap as well as interest rate caps, interest rate collars and risk participation agreements. First Commonwealth values its interest rate swap and cap positions using a yield curve by taking market prices/rates for an appropriate set of instruments. The set of instruments currently used to determine the U.S. Dollar yield curve includes cash LIBOR rates from overnight to one year, Eurodollar futures contracts and swap rates from one year to thirty years. These yield curves determine the valuations of interest rate swaps. Interest rate derivatives are further described in Note 6, “Derivatives.”

For purposes of potential valuation adjustments to our derivative positions, First Commonwealth evaluates the credit risk of its counterparties as well as our own credit risk. Accordingly, we have considered factors such as the likelihood of default, expected loss given default, net exposures and remaining contractual life, among other things, in determining if any estimated fair value adjustments related to credit risk are required. We review our counterparty exposure quarterly, and when necessary, appropriate adjustments are made to reflect the exposure.

We also utilize this approach to estimate our own credit risk on derivative liability positions. In 2021 and 2020, we have not realized any losses due to a counterparty's inability to pay any net uncollateralized position.

Interest rate derivatives also include interest rate forwards entered into to hedge residential mortgage loans held for sale and the related interest-rate lock commitments. This includes forward commitments to sell mortgage loans. The fair value of these derivative financial instruments are based on derivative market data inputs as of the valuation date and the underlying value of mortgage loans for rate lock commitments.

In addition, the Company hedges foreign currency risk through the use of foreign exchange forward contracts. The fair value of foreign exchange forward contracts is based on the differential between the contract price and the market-based forward rate.

The estimated fair value for other real estate owned included in Level 2 is determined by either an independent market based appraisal less estimated costs to sell or an executed sales agreement.

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The estimated fair value of the other investments included in Level 3 is based on carrying value as these securities do not have a readily determinable fair value.

The estimated fair value of limited partnership investments included in Level 3 is based on par value.

For interest rate derivatives included in Level 3, the fair value incorporates credit risk by considering such factors as likelihood of default and expected loss given default based on credit quality of the underlying counterparties (loan customers).

In accordance with ASU 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 Inputs	Range /  (weighted average)
December 31, 2021
Other Investments	$	1,170		Carrying Value	N/A	N/A
Nonperforming Loans	598		(a)	Gas Reserve Study	Discount rate	10.00%
					Gas per MMBTU	$2.00 - $2.00 (b)
					Oil per BBL/d	$50.00 - $50.00 (b)
Limited Partnership Investments	14,981			Par Value	N/A	N/A
December 31, 2020
Other Investments	1,670			Carrying Value	N/A	N/A
Nonperforming Loans	798		(a)	Gas Reserve study	Discount rate	10.00%
					Gas per MMBTU	$1.46 - $1.48 (b)
					Oil per BBL/d	$36.00 - $36.00 (b)
Limited Partnership Investments	6,619			Par Value	N/A	N/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.

The discount rate is the significant unobservable input used in the fair value measurement of nonperforming loans. Significant increases in this rate would result in a decrease in the estimated fair value of the loans, while a decrease in this rate would result in a higher fair value measurement. Other unobservable inputs in the fair value measurement of nonperforming loans relate to gas, oil and natural gas prices. Increases in these prices would result in an increase in the estimated fair value of the loans, while a decrease in these prices would result in a lower fair value measurement.

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The tables below present the balances of assets and liabilities measured at fair value on a recurring basis at December 31:

	2021
	Level 1		Level 2		Level 3		Total
	(dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities—Residential	$	—	$	5,662	$	—	$	5,662
Mortgage-Backed Securities—Commercial	—		362,290		—		362,290
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities—Residential	—		629,974		—		629,974
Other Government-Sponsored Enterprises	—		981		—		981
Obligations of States and Political Subdivisions	—		9,524		—		9,524
Corporate Securities	—		32,949		—		32,949
Total Securities Available for Sale	—		1,041,380		—		1,041,380
Other Investments	—		11,668		1,170		12,838
Loans Held for Sale	—		18,583		—		18,583
Other Assets (a)	—		26,805		14,981		41,786
Total Assets	$	—	$	1,098,436	$	16,151	$	1,114,587
Other Liabilities (a)	$	—	$	34,263	$	—	$	34,263
Total Liabilities	$	—	$	34,263	$	—	$	34,263

(a)Hedging and non-hedging interest rate derivatives and limited partnership investments

	2020
	Level 1		Level 2		Level 3		Total
	(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	—		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 and limited partnership investments

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The changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows for the year ended December 31, 2021:

	Other Investments		Other Assets		Total
	(dollars in thousands)
Balance, beginning of year	$	1,670	$	6,619	$	8,289
Total gains or losses
Included in earnings	—		—		—
Included in other comprehensive income	—		—		—
Purchases, issuances, sales, and settlements
Purchases	—		8,511		8,511
Issuances	—		—		—
Sales	—		—		—
Settlements	(500)		(149)		(649)
Transfers from Level 3	—		—		—
Transfers into Level 3	—		—		—
Balance, end of year	$	1,170	$	14,981	$	16,151

There are no gains or losses included in earnings for the period that are attributable to the change in realized gains (losses) relating to assets held at December 31, 2021.

During the year ended December 31, 2021, there were no transfers between fair value Levels 1, 2 or 3.

The changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows for the year ended December 31, 2020:

	Other Investments		Other Assets		Total
	(dollars in thousands)
Balance, beginning of year	$	1,670	$	5,795	$	7,465
Total gains or losses
Included in earnings	—		—		—
Included in other comprehensive income	—		—		—
Purchases, issuances, sales, and settlements
Purchases	—		824		824
Issuances	—		—		—
Sales	—		—		—
Settlements	—		—		—
Transfers from Level 3	—		—		—
Transfers into Level 3	—		—		—
Balance, end of year	$	1,670	$	6,619	$	8,289

There are no gains or losses included in earnings for the period that are attributable to the change in realized gains (losses) relating to assets held at December 31, 2020.

During the year ended December 31, 2020, there were no transfers between fair value Levels 1, 2 or 3.

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The tables below present the balances of assets measured at fair value on a nonrecurring basis at December 31 and total gains and losses realized on these assets during the year ended December 31:

	2021
	Level 1		Level 2		Level 3		Total		Total Gains (Losses)
	(dollars in thousands)
Nonperforming loans	$	—	$	42,538	$	12,247	$	54,785	$	352
Other real estate owned	—		729		—		729		—
Total Assets	$	—	$	43,267	$	12,247	$	55,514	$	352

	2020
	Level 1		Level 2		Level 3		Total		Total Gains (Losses)
	(dollars in thousands)
Nonperforming loans	$	—	$	35,543	$	13,604	$	49,147	$	(7,905)
Other real estate owned	—		1,319		—		1,319		(30)
Total Assets	$	—	$	36,862	$	13,604	$	50,466	$	(7,935)

Nonperforming loans over $250 thousand are individually reviewed to determine the amount of each loan considered to be at risk of noncollection. The fair value for nonperforming loans that are collateral based is determined by reviewing real property appraisals, equipment valuations, accounts receivable listings and other financial information. A discounted cash flow analysis is performed to determine fair value for nonperforming loans when an observable market price or a current appraisal is not available. For real estate secured loans, First Commonwealth’s loan policy requires updated appraisals be obtained at least every twelve months on all nonperforming loans with balances of $250 thousand and over. For real estate secured loans with balances under $250 thousand, we rely on broker price opinions. For non-real estate secured assets, the Company normally relies on third party valuations specific to the collateral type.

The fair value for other real estate owned, determined by either an independent market based appraisal less estimated costs to sell or an executed sales agreement, is classified as Level 2. The fair value for other real estate owned determined using an internal valuation is classified as Level 3. Other real estate owned had a current carrying value of $0.6 million as of December 31, 2021 and consisted primarily of commercial real estate properties in Pennsylvania. We review whether events and circumstances subsequent to a transfer to other real estate owned have occurred that indicate the balance of those assets may not be recoverable. If events and circumstances indicate further impairment, we will record a charge to the extent that the carrying value of the assets exceed their fair values, less estimated costs to sell, as determined by valuation techniques appropriate in the circumstances.

Certain other assets and liabilities, including goodwill, core deposit intangibles and customer list intangibles are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances. Additional information related to this measurement is provided in Note 11 “Goodwill and Other Amortizing Intangible Assets.” There were no other assets or liabilities measured at fair value on a nonrecurring basis during 2021.

FASB ASC Topic 825-10, “Transition Related to FSP FAS 107-1” and APB 28-1, “Interim Disclosures about Fair Value of Financial Instruments,” requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis. The methodologies for estimating the fair value of financial assets and financial liabilities that are measured at fair value on a recurring or nonrecurring basis are as discussed above. The methodologies for other financial assets and financial liabilities are discussed below.

Cash and due from banks and interest bearing bank deposits: The carrying amounts for cash and due from banks and interest-bearing bank deposits approximate the estimated fair values of such assets.

Securities: Fair values for available for sale and held to maturity securities are based on quoted market prices, if available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. The carrying value of other investments, which includes FHLB stock, is considered a reasonable estimate of fair value.

Loans held for sale: The estimated fair value of loans held for sale is based on market bids obtained from potential buyers.

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Loans: The fair values of all loans are estimated by discounting the estimated future cash flows using interest rates currently offered for loans with similar terms to borrowers of similar credit quality adjusted for past due and nonperforming loans.

Off-balance sheet instruments: Many of First Commonwealth’s off-balance sheet instruments, primarily loan commitments and standby letters of credit, are expected to expire without being drawn upon; therefore, the commitment amounts do not necessarily represent future cash requirements. FASB ASC Topic 460, “Guarantees,” clarified that a guarantor is required to recognize, at the inception of a guarantee, a liability for the fair value of the obligation undertaken in issuing the guarantee. The carrying amount and estimated fair value for standby letters of credit was $0.1 million at both December 31, 2021 and 2020. See Note 9, “Commitments and Letters of Credit,” for additional information.

Deposit liabilities: The estimated fair value of demand deposits, savings accounts and money market deposits is the amount payable on demand at the reporting date because of the customers' ability to withdraw funds immediately. The carrying value of variable rate time deposit accounts and certificates of deposit approximate the fair value at the report date. Also, fair values of fixed rate time deposits for both periods are estimated by discounting the future cash flows using interest rates currently being offered and a schedule of aggregated expected maturities.

Short-term borrowings: The fair values of borrowings from the FHLB were estimated based on the estimated incremental borrowing rate for similar types of borrowings. The carrying amounts of other short-term borrowings, such as federal funds purchased and securities sold under agreement to repurchase, were used to approximate fair value due to the short-term nature of the borrowings.

Subordinated debt and long-term debt: The fair value of long-term debt and subordinated debt is estimated by discounting the future cash flows using First Commonwealth’s estimate of the current market rate for similar types of borrowing arrangements.

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The following table presents carrying amounts and estimated fair values of First Commonwealth’s financial instruments at December 31:

	2021
			Fair Value Measurements Using:
	Carrying Amount		Total		Level 1		Level 2		Level 3
	(dollars in thousands)
Financial assets
Cash and due from banks	$	84,738	$	84,738	$	84,738	$	—	$	—
Interest-bearing deposits	310,634		310,634		310,634		—		—
Securities available for sale	1,041,380		1,041,380		—		1,041,380		—
Securities held to maturity	541,311		536,651		—		536,651		—
Other investments	12,838		12,838		—		11,668		1,170
Loans held for sale	18,583		18,583		—		18,583		—
Loans	6,839,230		7,169,768		—		42,538		7,127,230
Financial liabilities
Deposits	7,982,498		7,980,101		—		7,980,101		—
Short-term borrowings	138,315		136,473		—		136,473		—
Long-term debt	5,573		6,065		—		6,065		—
Subordinated debt	170,775		175,040		—		—		175,040
Capital lease obligation	5,921		5,921		—		5,921		—

	2020
			Fair Value Measurements Using:
	Carrying Amount		Total		Level 1		Level 2		Level 3
	(dollars in thousands)
Financial assets
Cash and due from banks	$	100,009	$	100,009	$	100,009	$	—	$	—
Interest-bearing deposits	256,572		256,572		256,572		—		—
Securities available for sale	831,223		831,223		—		831,223		—
Securities held to maturity	361,844		369,851		—		369,851		—
Other investments	12,227		12,227		—		10,557		1,670
Loans held for sale	33,436		33,436		—		33,436		—
Loans	6,761,183		7,202,763		—		35,543		7,167,220
Financial liabilities
Deposits	7,438,666		7,440,906		—		7,440,906		—
Short-term borrowings	117,373		117,037		—		117,037		—
Long-term debt	56,258		57,881		—		57,881		—
Subordinated debt	170,612		165,665		—		—		165,665
Capital lease obligation	6,385		6,385		—		6,385		—

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Note 17—Income Taxes

The income tax provision for the years ended December 31 is as follows:

	2021		2020		2019
	(dollars in thousands)
Current tax provision:
Federal	$	32,586	$	21,629	$	22,942
State	397		329		282
Total current tax provision	32,983		21,958		23,224
Deferred tax provision (benefit):
Federal	1,501		(5,070)		2,284
State	76		(132)		8
Total deferred tax provision	1,577		(5,202)		2,292
Total tax provision	$	34,560	$	16,756	$	25,516

The statutory to effective tax rate reconciliation for the years ended December 31 is as follows:

	2021				2020				2019
	Amount		% of Pretax Income		Amount		% of Pretax Income		Amount		% of Pretax Income
	(dollars in thousands)
Tax at statutory rate	$	36,292	21	%	$	18,943	21	%	$	27,478	21	%
Increase (decrease) resulting from:
State income tax, net of federal benefit	326		—		155		—		229		—
Income from bank owned life insurance	(1,351)		(1)		(1,376)		(1)		(1,260)		(1)
Tax-exempt interest income, net	(846)		—		(1,117)		(1)		(1,298)		(1)
Tax credits	(127)		—		(44)		—		(7)		—
Other	266		—		195		—		374		—
Total tax provision	$	34,560	20	%	$	16,756	19	%	$	25,516	19	%

The total tax provision for financial reporting differs from the amount computed by applying the statutory federal income tax rate to income before taxes. First Commonwealth ordinarily generates an annual effective tax rate that is less than the statutory rate of 21% due to benefits resulting from tax-exempt interest, income from bank owned life insurance, and tax benefits associated with low-income housing tax credits. The consistent level of tax benefits that reduce First Commonwealth’s tax rate below the statutory rate produced an annual effective tax rate of 20% for the year ended December 31, 2021 and 19% for each of the years ended December 31, 2020 and 2019.

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The tax effects of temporary differences between the financial statement carrying amounts and the tax bases of assets and liabilities that represent significant portions of the deferred tax assets and liabilities at December 31 are presented below:

	2021		2020
	(dollars in thousands)
Deferred tax assets:
Lease liability	$	9,489	$	9,928
Allowance for credit losses	19,597		21,483
Postretirement benefits other than pensions	235		242
Unrealized loss on securities available for sale	2,357		—
Net operating loss carryforward	75		385
Deferred compensation	1,969		1,723
Accrued interest on nonaccrual loans	779		644
Accrued incentives	2,591		2,182
Unfunded loan commitments & other reserves	1,363		1,576
Other	988		1,831
Total deferred tax assets	39,443		39,994
Deferred tax liabilities:
Loan origination fees and costs	(253)		(1,280)
Right of use asset	(8,589)		(9,037)
Unrealized gain on securities available for sale	—		(4,629)
Depreciation of assets	(1,725)		(2,103)
Section 197 intangibles	(1,107)		(540)
Other	(308)		(424)
Total deferred tax liabilities	(11,982)		(18,013)
Net deferred tax asset	$	27,461	$	21,981

The Company has approximately $1.0 million of federal net operating losses which are subject to an annual limitation under IRC Section 382. The Company has approximately $1.0 million of Pennsylvania net operating losses which begin to expire in 2034 and the Company expects to fully utilize the losses prior to expiration.

Management assesses all available positive and negative evidence to estimate if sufficient future taxable income will be generated to utilize the existing deferred tax assets. Based on our evaluation, as of December 31, 2021, management has determined that no valuation allowance is necessary for the deferred tax assets because it is more likely than not that these assets will be realized through future reversals of existing temporary differences and future taxable income.

In accordance with FASB ASC Topic 740-10, “Accounting for Uncertainty in Income Taxes,” the Company has no material unrecognized tax benefits or accrued interest and penalties as of December 31, 2021. We do not expect the total amount of unrecognized tax benefits to significantly increase in the next twelve months. The Company records interest and penalties on unrecognized tax benefits as a component of noninterest expense.

First Commonwealth is subject to routine audits of our tax returns by the Internal Revenue Service (“IRS”) as well as all states in which we conduct business. Generally, tax years prior to the year ended December 31, 2018 are no longer open to examination by federal and state taxing authorities.

Note 18—Retirement Plans

First Commonwealth has a savings plan pursuant to the provisions of section 401(k) of the Internal Revenue code. Effective January 1, 2020, a participating employee can receive a maximum matching contribution of 4% of their eligible compensation. In addition, each participating employee may contribute up to 80% of their eligible compensation to the plan. The 401(k) plan expense was $3.0 million in 2021, $3.9 million in 2020, and $3.6 million in 2019.

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First Commonwealth maintains a Non-Qualified Deferred Compensation Plan (“NQDC Plan”) to provide deferred compensation for those employees who are in the top 7% of full-time employees, as determined on the basis of eligible compensation. The NQDC Plan provides participants whose maximum retirement contribution is limited by IRS rules to defer additional compensation.

Participants in the NQDC Plan are eligible to defer (on a pre-tax basis) from 1% to 25% of their eligible Plan compensation. Participants are also eligible to defer all or a portion of the Annual Incentive Plan (on a pre-tax basis) from 10% to 100% of their annual cash incentive earned. There was no NQDC Plan expense in 2021, 2020 and 2019.

Select employees from former acquisitions were covered by postretirement benefit plans which provide medical and life insurance coverage. The measurement date for these plans was December 31.

Postretirement Benefits Other than Pensions from Prior Acquisitions

Net periodic benefit cost of these plans for the years ended December 31, was as follows:

	2021		2020		2019
	(dollars in thousands)
Service cost	$	—	$	—	$	—
Interest cost on projected benefit obligation	23		23		34
Amortization of transition obligation	—		—		—
Amortization of prior service cost	76		—		—
Gain amortization	(27)		(52)		(60)
Net periodic benefit cost	$	72	$	(29)	$	(26)

The following table sets forth the change in the benefit obligation and plan assets as of December 31:

	2021		2020
	(dollars in thousands)
Change in Benefit Obligation
Benefit obligation at beginning of year	$	1,372	$	834
Service cost	—		—
Interest cost	23		23
Amendments	—		537
Actuarial gain	(302)		102
Net benefits paid	(107)		(124)
Benefit obligation at end of year	986		1,372
Change in Plan Assets
Fair value of plan assets at beginning of year	—		—
Actual return on plan assets	—		—
Employer contributions	107		124
Net benefits paid	(107)		(124)
Fair value of plan assets at end of year	—		—
Funded Status at End of Year	986		1,372
Unrecognized prior service cost	(461)		(537)
Unrecognized net gain	584		308
Amounts recognized in retained earnings	$	1,109	$	1,143

As of December 31, the funded status of the plan is:

	2021		2020
	(dollars in thousands)
Amounts Recognized in the Statement of Financial Condition as Other liabilities	$	986	$	1,372

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The following table sets forth the amounts recognized in accumulated other comprehensive income that have not yet been recognized as components of net periodic benefit costs as of December 31:

	2021		2020		2019
	(dollars in thousands)
Amounts recognized in accumulated other comprehensive income, net of tax:
Net (gain) loss	$	(461)	$	(243)	$	(366)
Prior service cost	364		424		—
Total	$	(97)	$	181	$	(366)

Weighted-average assumptions used to determine the benefit obligation as of December 31 are as follows:

	2021		2020		2019
Weighted-Average Assumptions
Discount rate	2.38	%	1.83	%	2.88	%
Health care cost trend: Initial	5.90	%	5.95	%	5.55	%
Health care cost trend: Ultimate	4.75	%	4.75	%	4.75	%
Year ultimate reached	2027		2026		2025

Weighted-average assumptions used to determine the net benefit costs as of December 31 are as follows: 

	2021		2020		2019
Weighted-Average Assumptions for Net Periodic Cost
Discount rate	1.83	%	2.88	%	4.11	%
Health care cost trend: Initial	5.95	%	5.55	%	6.00	%
Health care cost trend: Ultimate	4.75	%	4.75	%	4.75	%
Year ultimate reached	2026		2025		2024
Corridor	10.00	%	10.00	%	10.00	%
Recognition period for gains and losses	10.4		10.9		12.1

The Medicare Prescription Drug, Improvement and Modernization Act of 2003 (the “Act”) introduced a prescription drug benefit under Medicare Part D and a federal subsidy to sponsors of retiree health care benefit plans that provide a prescription drug benefit that is at least actuarially equivalent to Medicare Part D. The postretirement plans of First Commonwealth are provided through insurance coverage; therefore, First Commonwealth will not receive a direct federal subsidy. The preceding measures of the accumulated postretirement benefit cost assume that First Commonwealth will not receive the subsidy due to the relatively small number of retirees.

As of December 31, 2021, the projected benefit payments for the next ten years are as follows:

	Projected Benefit         Payments
	(dollars in thousands)
2022	$	118
2023	113
2024	107
2025	100
2026	93
2027 - 2031	350

The projected payments were calculated using the same assumptions as those used to calculate the benefit obligations included in this note.

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The estimated costs that will be amortized from accumulated other comprehensive income into net periodic cost for 2022 are as follows (dollars in thousands):

	Postretirement Benefits
	(dollars in thousands)
Net gain	$	(69)
Prior service cost	76
Total	$	7

Note 19—Incentive Compensation Plan

On January 20, 2009, the Board of Directors of the Company adopted, with shareholder approval, the First Commonwealth Financial Corporation Incentive Compensation Plan. This plan allows for shares of common stock to be issued to employees, directors, and consultants of the Company and its subsidiaries as an incentive to aid in the financial success of the Company. The shares can be issued as options, stock appreciation rights, performance share or unit awards, dividend or dividend equivalent rights, stock awards, restricted stock awards, or other annual incentive awards. Up to 5,000,000 shares of stock can be awarded under this plan, of which 2,434,596 shares were still eligible for awards as of December 31, 2021.

Restricted Stock

The following provides detail on the restricted stock awards which were issued and outstanding in 2021, 2020 and 2019 in order to retain and attract key employees. The grant date fair value of the restricted stock awards is equal to the price of First Commonwealth’s common stock on grant date.

Grant Date	Shares issued	Grant Price		Vesting Date	Number of Equal Vesting Periods
December 13, 2021	2,000	$	14.83	December 13, 2024	1
December 9, 2021	1,000	15.07		December 9, 2024	1
November 22, 2021	1,565	15.96		November 22, 2024	1
November 19, 2021	24,000	15.81		November 19, 2024	1
September 27, 2021	6,000	13.78		September 27, 2024	1
June 14, 2021	15,000	14.58		June 1, 2024	3
February 18, 2021	84,950	12.77		February 18, 2024	1
February 20, 2020	95,300	13.72		February 20, 2023	1
February 21, 2019	63,000	14.22		February 22, 2022	1
February 21, 2019	15,000	14.22		February 22, 2022	1
November 26, 2018	2,000	13.82		November 26, 2021	1
May 29, 2018	3,000	15.44		May 29, 2021	1
March 26, 2018	2,000	14.08		March 26, 2021	1
February 26, 2018	77,500	14.49		February 26, 2021	1
March 24, 2017	5,000	12.99		March 24, 2020	1
March 24, 2017	7,000	12.99		March 24, 2020	1
December 19, 2016	15,000	13.96		December 19, 2019	3
September 30, 2016	10,000	10.09		September 30, 2019	1
September 19, 2016	33,000	10.02		September 19, 2019	3
June 7, 2016	10,000	9.34		June 7, 2019	1
March 1, 2016	10,000	8.84		March 1, 2019	1
March 1, 2016	5,000	8.84		March 1, 2019	1

Compensation expense related to restricted stock was $3.1 million, $2.9 million and $2.7 million in 2021, 2020 and 2019, respectively. As of December 31, 2021, there was $3.8 million of unrecognized compensation cost related to unvested restricted stock awards granted.

A summary of the status of First Commonwealth’s unvested service-based restricted stock awards as of December 31 and changes for the years ended on those dates is presented below:

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	2021			2020			2019
	Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value
Outstanding, beginning of the year	250,800	$	14.13	171,500	$	14.27	137,500	$	13.05
Granted	134,515	13.64		95,300	13.72		78,000	14.22
Vested	(88,389)	14.46		(12,000)	12.99		(41,000)	10.09
Forfeited	(10,911)	13.66		(4,000)	13.85		(3,000)	14.40
Outstanding, end of the year	286,015	13.82		250,800	14.13		171,500	14.27

The following provides detail on restricted stock awards estimated to be granted on a performance award basis during 2021, 2020 and 2019. These plans were previously approved by the Board of Directors.

Grant Date	Target Share Award	Performance Period (years)	Award if threshold met		Award if targets are met		Award if superior met		Award if threshold not achieved		Vesting After Performance Period (years)	Final vesting
December 30, 2015	60,000	5									0	December 31, 2020
February 23, 2017	93,500	3	40	%	100	%	200	%	—	%	0	December 31, 2019
February 22, 2018	102,000	3	40	%	100	%	200	%	—	%	0	December 31, 2020
February 21, 2019	121,900	3	40	%	100	%	200	%	—	%	0	December 31, 2021
February 20, 2020	125,800	3	40	%	100	%	200	%	—	%	0	December 31, 2022
February 18, 2021	143,400	3	40	%	100	%	200	%	—	%	0	December 31, 2023

The following table summarizes the estimated unvested target share awards for the Plans as of December 31:

	2021	2020	2019
Outstanding, beginning of the year	434,180	442,832	496,603
Granted	143,400	125,800	134,929
Issued	(158,531)	(134,452)	(188,700)
Forfeited	(27,949)	—	—
Outstanding, end of the year	391,100	434,180	442,832

Based on a Monte Carlo simulation, the above grants have the following fair market values per share:

	Proportional Fair Value
	50%		25%		25%
February 23, 2017	$	13.29	$	13.29	$	15.09
February 22, 2018	14.17		13.25		15.83
February 21, 2019	14.22		16.62		13.07
February 20, 2020	13.72		15.37		12.43
February 18, 2021	12.77		11.45		16.41

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Note 20—Contingent Liabilities

Legal proceedings

First Commonwealth and its subsidiaries are subject in the normal course of business to various pending and threatened legal proceedings in which claims for monetary damages are asserted. As of December 31, 2021, management, after consultation with legal counsel, does not anticipate that the aggregate ultimate liability arising out of litigation pending or threatened against First Commonwealth or its subsidiaries will be material to First Commonwealth’s consolidated financial position. On at least a quarterly basis, First Commonwealth assesses its liabilities and contingencies in connection with such legal proceedings. For those matters where it is probable that First Commonwealth will incur losses and the amounts of the losses can be reasonably estimated, First Commonwealth records an expense and corresponding liability in its consolidated financial statements. To the extent the pending or threatened litigation could result in exposure in excess of that liability, the amount of such excess is not currently estimable. Although not considered probable, the range of reasonably possible losses for such matters in the aggregate, beyond the existing recorded liability (if any), is between $0 and $1 million. Although First Commonwealth does not believe that the outcome of pending litigation will be material to First Commonwealth’s consolidated financial position, it cannot rule out the possibility that such outcomes will be material to the consolidated results of operations and cash flows for a particular reporting period in the future.

Note 21—Revenue Recognition

Substantially all of the Company’s revenue is generated from contracts with customers. Revenue associated with financial instruments, including revenue from loans and securities, certain noninterest income streams such as fees associated with derivatives are not in scope of Topic 606 - Revenue from Contracts with Customers. Topic 606 is applicable to noninterest revenue streams such as trust income, service charges on deposits, insurance and retail brokerage commissions, card-related interchange income and gain(loss) on sale of OREO. For contracts within the scope of Topic 606, the Company immediately expenses contract acquisition costs when the asset that would have resulted from capitalizing these costs would have been amortized in one year or less.

Noninterest revenue streams in-scope of Topic 606 are discussed below:

Trust Income

Trust income is primarily comprised of fees earned from the management and administration of trusts and other customer assets. The Company’s performance obligation is generally satisfied over time and the resulting fees are recognized monthly, based upon a tiered scale of market value of the assets under management at month-end. Payment is generally received a few days after month end through a direct charge to customers’ accounts. The Company does not earn performance-based incentives. Optional services such as financial planning or tax return preparation services are also available to trust customers. The Company’s performance obligation for these transactional-based services is generally satisfied and related revenue recognized, at a point in time. Payment is received shortly after services are rendered.

Service Charges on Deposit Accounts

Service charges on deposit accounts consist of fees earned from its deposit customers for transaction-based, account maintenance, overdraft services and account analysis fees. Transaction-based fees, which include services such as ATM use fees, stop payment fees, statement rendering and ACH fees, are recognized at the time the transaction is executed which is the point in time the Company fulfills the customer’s request. Monthly account maintenance fees are earned over the course of the month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. The Company’s performance obligation for account analysis fees is generally satisfied, and the related revenue recognized, during the month the service is provided. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to customers’ accounts.

Insurance and Retail Brokerage Commissions

Insurance income primarily consists of commissions received from execution of personal, business and health insurance policies when acting as an agent on behalf of insurance carriers. The Company’s performance obligation is generally satisfied upon the issuance of the insurance policy. Because the Company’s contracts with the insurance carriers are generally cancellable by either party, with minimal notice, insurance commissions are recognized during the policy period as received. Also, the majority of insurance commissions are received on a monthly basis during the policy period, however some carriers pay the full annual commission to First Commonwealth at the time of policy issuance or renewal. In these cases, First Commonwealth would be required to refund any commissions it would not be entitled to as a result of cancelled or terminated policies. The Company has established a refund liability for the remaining term of the policies expected to be cancelled. The

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Company also receives incentive-based contingency fees from the insurance carriers. Contingency fee revenue, which totals approximately $0.5 million per year, is recognized as received due to the immaterial amount.

Retail brokerage income primarily consists of commissions received on annuity and investment product sales through a third-party service provider. The Company’s performance obligation is generally satisfied upon the issuance of the annuity policy or the execution of an investment transaction. The Company does not earn a significant amount of trailer fees on annuity sales. However, after considering the factors impacting these trailer fees, such as the uncertainty of investor behavior and changes in the market value of assets, First Commonwealth determined that it would recognize trailing fees as received because it could not reasonably estimate an amount of future trailing commissions for which collection is probable. Commissions from the third-party service provider are received on a monthly basis based upon customer activity for the month. The fees are recognized monthly with a receivable until commissions are received from the third-party service provider the following month. Because the Company acts as an agent in arranging the relationship between the customer and the third-party service provider and does not control the services rendered to the customers, retail brokerage fees are presented net of related costs, including $3.7 million and $3.0 million, respectively, in commission expense as of December 31, 2021 and 2020.

Card Related Interchange Income

Card related interchange income is primarily comprised of debit and credit card income, ATM fees and merchant services income. Debit and credit card income is primarily comprised of interchange fees earned whenever the Company’s debit and credit cards are processed through card payment networks such as MasterCard. ATM fees are primarily generated when a Company cardholder uses a non-Company ATM or a non-Company cardholder uses a Company ATM. Merchant services income mainly represents fees charged to merchants to process their debit and credit card transactions, in addition to account management fees. Card related interchange income is recognized at the point in time as the customer transactions are settled.

Other Income

Other income includes service revenue from processing wire transfers, bill pay service, cashier’s checks, and other services. The Company’s performance obligation for these services are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or in the following month.

Gains(losses) on sales of OREO

First Commonwealth records a gain or loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When First Commonwealth finances the sale of OREO to the buyer, an assessment of whether the buyer is committed to perform their obligations under the contract is completed along with an evaluation of whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon transfer of control of the property to the buyer. In determining the gain or loss on the sale, First Commonwealth adjusts the transaction price and related gain(loss) on sale if a significant financing component is present.

The following presents noninterest income, segregated by revenue streams in-scope and out-of-scope of Topic 606 for the year ended December 31:

	2021		2020		2019
	(dollars in thousands)
Noninterest Income
In-scope of Topic 606:
Trust income	$	11,111	$	9,101	$	8,321
Service charges on deposit accounts	17,984		16,387		18,926
Insurance and retail brokerage commissions	8,502		7,850		7,583
Card related interchange income	27,954		23,966		21,677
Gain on sale of other loans and assets	753		967		1,062
Other income	4,184		3,675		3,837
Noninterest Income (in-scope of Topic 606)	70,488		61,946		61,406
Noninterest Income (out-of-scope of Topic 606)	36,269		32,530		24,079
Total Noninterest Income	$	106,757	$	94,476	$	85,485

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Note 22—Related Party Transactions

Some of First Commonwealth’s directors, executive officers, principal shareholders and their related interests had transactions with the subsidiary bank in the ordinary course of business. All deposit and loan transactions were made on substantially the same terms, such as collateral and interest rates, as those prevailing at the time for comparable transactions. In the opinion of management, these transactions do not involve more than the normal risk of collectability nor do they present other unfavorable features. It is anticipated that similar transactions will be entered into in the future.

The following is an analysis of loans to related parties (dollars in thousands):

December 31, 2020	$	19,573
Advances	535
Repayments	(1,155)
December 31, 2021	$	18,953

Note 23—Regulatory Restrictions and Capital Adequacy

The amount of funds available to the parent from its subsidiary bank is limited by restrictions imposed on all depository institutions by banking regulation that restricts and limits the payment of dividends and the ability of depository institutions to engage in transactions, including lending transactions and asset purchases, with affiliates.

First Commonwealth and First Commonwealth Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators which, if undertaken, could have a direct material effect on First Commonwealth’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, First Commonwealth and First Commonwealth Bank must meet specific capital guidelines that involve quantitative measures of First Commonwealth’s assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. First Commonwealth’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weighting and other factors.

Effective January 1, 2015, First Commonwealth became subject to regulatory risk-based capital rules adopted by the federal banking agencies implementing Basel III. The capital rules require First Commonwealth to maintain the following minimum capital levels:

•a minimum Tier I capital to risk-weighted assets of at least 6.0%, plus a capital conservation buffer of 2.5%, resulting in a required minimum ratio of 8.5%

•a minimum Common Equity Tier 1 to risk weighted assets of at least 4.5%, plus the capital conservation buffer of 2.5%, resulting in a required minimum ratio of 7%.

•a minimum Total Capital to risk weighted assets of at least 8.0%, plus the 2.5% capital conservation buffer, resulting in a required minimum of 10.5%

•a minimum Leverage ratio, which is Tier 1 capital to adjusted average assets, of 4.0%

The capital conservation buffer may only include capital that qualifies as Common Equity Tier 1.

The Basel III Rules also permit banking organizations with less than $15.0 billion in assets to retain, through a one-time election, the exclusion of accumulated other comprehensive income from regulatory capital. The Company elected to retain this treatment, which reduces the volatility of regulatory capital levels.

During the second quarter of 2018, First Commonwealth Bank, the Company's banking subsidiary, issued $100 million in subordinated debt, which under regulatory rules qualifies as Tier II capital. This subordinated debt issuance increased the total risk-based capital ratio by 160 basis points.

As of December 31, 2021, the Company had $71.3 million in PPP loans outstanding under the CARES Act. Because these loans are 100% guaranteed by the SBA, banking regulators confirmed that they have a zero percent risk weight under applicable risk-based capital rules. Additionally, a bank may exclude all PPP loans pledged as collateral to the Federal Reserve's PPP Facility from average total assets when calculating its leverage ratio, while PPP loans that are not pledged as collateral to the PPP Facility will be included. The PPP loans originated by the Company are included in our leverage ratio as of December 31, 2021, as we did not utilize the PPP Facility.

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As of December 31, 2021 and 2020, First Commonwealth and First Commonwealth Bank met all capital adequacy requirements to which they are subject and were considered well-capitalized under the regulatory rules as set forth in the tables below:

	Actual				Minimum Capital Required				Required to be Considered Well Capitalized
	Capital Amount		Ratio		Capital Amount		Ratio		Capital Amount		Ratio
	(dollars in thousands)
As of December 31, 2021
Total Capital to Risk Weighted Assets
First Commonwealth Financial Corporation	$	1,071,965	14.64	%	$	768,723	10.50	%	$	732,118	10.00	%
First Commonwealth Bank	1,041,854		14.26		767,321		10.50		730,782		10.00
Tier I Capital to Risk Weighted Assets
First Commonwealth Financial Corporation	$	894,670	12.22	%	$	622,300	8.50	%	$	585,694	8.00	%
First Commonwealth Bank	864,559		11.83		621,165		8.50		584,626		8.00
Tier I Capital to Average Assets
First Commonwealth Financial Corporation	$	894,670	9.73	%	$	367,656	4.00	%	$	459,570	5.00	%
First Commonwealth Bank	864,559		9.43		366,839		4.00		458,549		5.00
Common Equity Tier I to Risk Weighted Assets
First Commonwealth Financial Corporation	$	824,670	11.26	%	$	512,482	7.00	%	$	475,876	6.50	%
First Commonwealth Bank	864,559		11.83		511,547		7.00		475,008		6.50

	Actual				Minimum Capital Required				Required to be Considered Well Capitalized
	Capital Amount		Ratio		Capital Amount		Ratio		Capital Amount		Ratio
	(dollars in thousands)
As of December 31, 2020
Total Capital to Risk Weighted Assets
First Commonwealth Financial Corporation	$	1,010,608	14.88	%	$	713,289	10.50	%	$	679,323	10.00	%
First Commonwealth Bank	974,911		14.36		712,995		10.50		679,043		10.00
Tier I Capital to Risk Weighted Assets
First Commonwealth Financial Corporation	$	827,231	12.18	%	$	577,424	8.50	%	$	543,458	8.00	%
First Commonwealth Bank	791,568		11.66		577,186		8.50		543,234		8.00
Tier I Capital to Average Assets
First Commonwealth Financial Corporation	$	827,231	9.40	%	$	352,023	4.00	%	$	440,029	5.00	%
First Commonwealth Bank	791,568		9.01		351,244		4.00		439,055		5.00
Common Equity Tier I to Risk Weighted Assets
First Commonwealth Financial Corporation	$	757,231	11.15	%	$	475,526	7.00	%	$	441,560	6.50	%
First Commonwealth Bank	791,568		11.66		475,330		7.00		441,378		6.50

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Note 24—Capital

At December 31, 2021, shareholders’ equity was $1.1 billion, an increase of $40.8 million from December 31, 2020. The increase was primarily the result of $138.3 million in net income and $2.3 million in treasury stock sales. These increases were partially offset by $43.6 million of dividends paid to shareholders, $31.3 million of common stock repurchases and a $26.0 million decrease in the fair value of available for sale securities. Cash dividends declared per common share were $0.455, $0.440 and $0.400 for the years ended December 31, 2021, 2020 and 2019, respectively.

As part of the Company's capital management, First Commonwealth's Board of Directors will periodically authorize stock repurchase plans. On March 4, 2019, a share repurchase program was authorized for up to $25.0 million in shares of the Company's common stock. This program completed prior to December 31, 2020, and resulted in the repurchase of 2,761,504 shares at an average price of $9.07. In January 2021, the Board of Directors authorized a $25.0 million share repurchase program of the Company's common stock. This plan completed in October of 2021 and resulted in the repurchase of 1,161,056 at an average price of $13.44. In November 2021, the Board of Directors authorized a $25.0 million share repurchase program of the Company's common stock. As of December 31, 2021, 937,670 shares at an average price of $15.39 have been repurchased. First Commonwealth may suspend or discontinue the program at any time.

Note 25—Condensed Financial Information of First Commonwealth Financial Corporation (parent company only)

Statements of Financial Condition	December 31,
	2021		2020
	(dollars in thousands)
Assets
Cash	$	11,649	$	34,427
Loans	9		11
Investment in subsidiaries	1,152,580		1,108,801
Investment in unconsolidated subsidiary trusts	2,181		2,182
Investment in jointly-owned company	357		338
Premises and equipment, net	3,244		3,476
Dividends receivable from subsidiaries	7,762		3,038
Other assets	8,212		7,307
Total assets	$	1,185,994	$	1,159,580
Liabilities and Shareholders’ Equity
Accrued expenses and other liabilities	$	4,455	$	18,796
Subordinated debentures payable	72,167		72,167
Shareholders’ equity	1,109,372		1,068,617
Total liabilities and shareholders’ equity	$	1,185,994	$	1,159,580

Statements of Income	For the years ended December 31,
	2021		2020		2019
	(dollars in thousands)
Interest and dividends	$	4	$	8	$	8
Dividends from subsidiaries	72,202		61,708		55,964
Interest expense	(3,205)		(3,229)		(3,735)
Other income	—		3		6
Operating expense	(4,721)		(4,687)		(4,525)
Income before taxes and equity in undistributed earnings of subsidiaries	64,280		53,803		47,718
Applicable income tax benefits	1,646		1,648		1,720
Income before equity in undistributed earnings of subsidiaries	65,926		55,451		49,438
Equity in undistributed earnings of subsidiaries	72,331		17,996		55,895
Net income	$	138,257	$	73,447	$	105,333

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	For the years ended December 31,
Statements of Cash Flow	2021		2020		2019
	(dollars in thousands)
Operating Activities
Net income	$	138,257	$	73,447	$	105,333
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	369		383		340
Net gains on sales of assets	228		—		(2)
Decrease (increase) in prepaid income taxes	317		(317)		629
Undistributed equity in subsidiaries	(72,330)		(17,996)		(55,895)
Other net	(14,830)		19,705		(2,957)
Net cash provided by operating activities	52,011		75,222		47,448
Investing Activities
Net change in loans	2		1		1
Purchases of premises and equipment	(101)		(20)		(586)
Proceeds from sale of other assets	—		—		2
Net cash used in investing activities	(99)		(19)		(583)
Financing Activities
Dividends paid	(43,611)		(42,982)		(39,394)
Proceeds from reissuance of treasury stock	222		222		211
Purchase of treasury stock	(31,301)		(20,905)		(6,259)
Net cash used in financing activities	(74,690)		(63,665)		(45,442)
Net increase (decrease) in cash	(22,778)		11,538		1,423
Cash at beginning of year	34,427		22,889		21,466
Cash at end of year	$	11,649	$	34,427	$	22,889

Cash dividends declared per common share were $0.455 for 2021, $0.440 in 2020 and $0.400 in 2019.

First Commonwealth Financial Corporation has an unsecured $20.0 million line of credit with another financial institution. As of December 31, 2021, there are no amounts outstanding on this line and we are in compliance with all debt covenants related to the line of credit.

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Report of Ernst & Young LLP, Independent Registered Public Accounting Firm

The Board of Directors and Stockholders of First Commonwealth Financial Corporation

Opinion on the Financial Statements

We have audited the accompanying consolidated statement of financial condition of First Commonwealth Financial Corporation and subsidiaries (the Company) as of December 31, 2021 and 2020, the related consolidated statements of income, comprehensive income, changes in shareholders' equity, and cash flows for each of the three years in the period ended December 31, 2021, and the related notes (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Company at December 31, 2021 and 2020, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2021, in conformity with U.S. generally accepted accounting principles.

We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company’s internal control over financial reporting as of December 31, 2021, based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) and our report dated February 28, 2022 expressed an unqualified opinion thereon.

Adoption of New Accounting Standard

As discussed in Notes 1 and 8 to the consolidated financial statements, the Company changed its method for accounting for credit losses in 2020 due to the adoption of ASU 2016-13, Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments.

Basis for Opinion

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company’s financial statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Critical Audit Matter

The critical audit matter communicated below is a matter arising from the current period audit of the financial statements that was communicated or required to be communicated to the audit committee and that: (1) relates to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective or complex judgments. The communication of the critical audit matter does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the account or disclosure to which it relates.

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	Allowance for Credit Losses
Description of the Matter	First Commonwealth’s loan and lease portfolio totaled $6.8 billion as of December 31, 2021 and the associated ACL was $92.5 million. As discussed in Note 1 and 8 of the financial statements, the ACL represents management’s current estimate of lifetime credit losses inherent in the loan portfolio at the balance sheet date. The ACL is calculated by pooling loans of similar risk characteristics and applying a discounted cash flow methodology after incorporating probability of default and loss given default estimates. Inputs impacting the expected losses include a forecast of economic factors including national unemployment, gross domestic product, and housing price index. The ACL also includes qualitative factors related to loan portfolio risks not reflected in the calculated model, including lending practices, ability and experience of the credit staff, the overall lending environment and external factors such as the regulatory environment and competition, as well as the impact of COVID-19. Auditing management’s ACL estimate and related provision for credit losses was complex due to the discounted cash flow model and related inputs used to compute the reserve and involves a high degree of subjectivity due to the judgment required in evaluating management’s determination of the qualitative factors described above.
How We Addressed the Matter in Our Audit	We obtained an understanding, evaluated the design, and tested the operating effectiveness of the Company’s controls over the ACL process, including controls over the appropriateness over the ACL methodology, the expected loss models, the reliability and accuracy of data used in developing the ACL estimate, and management’s review and approval process over the forecast, qualitative adjustments and overall ACL results. We tested management’s expected loss models including evaluating the conceptual soundness of model methodology, assessing model performance and governance, testing key model assumptions, including the reasonable and supportable forecast period, and independently recalculating model output with the assistance of EY specialists. We also verified the underlying economic forecast data used to estimate the quantitative reserve was complete and accurate. To test the qualitative factor adjustments, among other procedures, we assessed management’s methodology and considered whether relevant risks were reflected in the models and whether adjustments to the model output were appropriate. We tested the completeness, accuracy, and relevance of the underlying data used to estimate the qualitative adjustments. We evaluated whether qualitative adjustments were reasonable based on changes in economic conditions and the loan portfolio. For example, we evaluated the reasonableness of qualitative adjustments for economic trends and conditions by independently comparing loan portfolio information. We also assessed whether qualitative adjustments were consistent with publicly available information (e.g. macroeconomic data). Further, we performed an independent search for the existence of new or contrary information relating to risks impacting the qualitative factor adjustments to validate that management’s considerations are appropriate. Additionally, we evaluated whether the overall ACL, inclusive of qualitative factor adjustments, appropriately reflects losses expected in the loan portfolio by comparing to historical losses and peer bank data.

/s/ Ernst & Young LLP

We have served as the Company’s auditor since 2019.    

Pittsburgh, Pennsylvania

February 28, 2022

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Report of Ernst & Young LLP, Independent Registered Public Accounting Firm

To the Shareholders and the Board of Directors of First Commonwealth Financial Corporation

Opinion on Internal Control over Financial Reporting

We have audited First Commonwealth Financial Corporation and subsidiaries internal control over financial reporting as of December 31, 2021, based on criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) (the COSO criteria). In our opinion, First Commonwealth Financial Corporation Company and subsidiaries (the Company) maintained, in all material respects, effective internal control over financial reporting as of December 31, 2021, based on the COSO criteria.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated statements of financial condition of the Company as of December 31, 2021 and 2020, the related consolidated statements of comprehensive income, shareholders’ equity and cash flows for each of the three years in the period ended December 31, 2021, and the related notes and our report dated February 28, 2022 expressed an unqualified opinion thereon.

Basis for Opinion

The Company’s management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting included in the accompanying Management’s Assessment of Internal Control over Financial Reporting. Our responsibility is to express an opinion on the Company’s internal control over financial reporting based on our audit. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects.

Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.

Definition and Limitations of Internal Control Over Financial Reporting

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

/s/ Ernst & Young LLP

Pittsburgh, Pennsylvania

February 28, 2022

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ITEM 9.    Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

None.

ITEM 9A.    Controls and Procedures

Disclosure Controls and Procedures

We carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and our Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this report pursuant to Rule 13a-15 under the Securities Exchange Act of 1934 (the “Exchange Act”). Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures are effective to provide reasonable assurance that the information required to be disclosed in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in applicable rules and forms of the Securities and Exchange Commission.

In addition, our management, including our Chief Executive Officer and Chief Financial Officer, also conducted an evaluation of our internal controls over financial reporting to determine whether any changes occurred during the fourth fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal controls over financial reporting. No such changes were identified in connection with this evaluation.

Ernst & Young LLP, Pittsburgh, Pennsylvania, (U.S. PCAOB Auditor Firm I.D.: 42), the independent registered public accounting firm that audited our consolidated financial statements included in this Annual Report on Form 10-K, has issued an attestation report on the effectiveness of our internal control over financial reporting as of December 31, 2021. The report, which expresses an unqualified opinion on the effectiveness of our internal control over financial reporting as of December 31, 2021, is included at the end of Item 8 under the heading Report of "Independent Registered Public Accounting Firm.”

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MANAGEMENT’S ASSESSMENT OF INTERNAL CONTROL OVER FINANCIAL REPORTING

First Commonwealth is responsible for the preparation, the integrity, and the fair presentation of the Consolidated Financial Statements included in this annual report. The Consolidated Financial Statements and notes to the financial statements have been prepared in conformity with generally accepted accounting principles and include some amounts based upon management’s best estimates and judgments.

First Commonwealth’s management is responsible for establishing and maintaining effective internal control over financial reporting, as such term is defined in Exchange Act Rule 13a-15(f), that is designed to produce reliable financial statements in conformity with generally accepted accounting principles and includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company’s assets that could have a material effect on the financial statements. Under the supervision and with the participation of management, including First Commonwealth’s principal executive officer and principal financial officer, First Commonwealth conducted an evaluation of the effectiveness of internal control over financial reporting based on criteria established in Internal Control-Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

All internal control systems, no matter how well designed, have inherent limitations, including the possibility that a control can be circumvented and that misstatements due to error or fraud may occur without detection. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation.

Based on First Commonwealth’s evaluation based on criteria established in Internal Control-Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), management concluded that internal control over financial reporting was effective as of December 31, 2021. The effectiveness of First Commonwealth’s internal control over financial reporting as of December 31, 2021 has been audited by Ernst & Young, LLP, an independent registered public accounting firm, as stated in their attestation report which is included herein.

First Commonwealth Financial Corporation

Indiana, Pennsylvania

February 28, 2022

/S/    T. Michael Price	/S/    James R. Reske
T. Michael Price	James R. Reske
President and Chief Executive Officer	Executive Vice President, Chief Financial Officer and Treasurer

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ITEM 9B.    Other Information

None.

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PART III

ITEM 10.    Directors, Executive Officers and Corporate Governance

Information called for by this item concerning the identification, business experience and qualifications of First Commonwealth’s directors will be included in First Commonwealth’s definitive Proxy Statement to be filed with the Securities and Exchange Commission in connection with the annual meeting of shareholders to be held April 26, 2022 (the “Proxy Statement”), under the heading “Proposal 1—Election of Directors,” and is incorporated herein by reference.

Information called for by this item concerning First Commonwealth’s compliance with section 16(a) of the Exchange Act will be included in the Proxy Statement under the heading “Section 16(a) Beneficial Ownership Reporting Compliance,” and is incorporated herein by reference.

First Commonwealth has adopted a code of conduct and ethics that applies to all employees of the Company, including executive officers. In addition, First Commonwealth has adopted a code of ethics for the Chief Executive Officer and all senior financial officers of the Company. Both of these codes are filed as exhibits to this Annual Report on Form 10-K and are posted on First Commonwealth’s website at http://www.fcbanking.com. Refer to Item 15 of this Annual Report on Form 10-K for a list of exhibits.

Information called for by this item concerning First Commonwealth’s Audit Committee and the identification of “Audit Committee financial experts” will be included in the Proxy Statement under the heading “Corporate Governance,” and is incorporated herein by reference.

Certain information regarding executive officers is included under the caption “Executive Officers of First Commonwealth Financial Corporation” after Part I, Item 4, of this Report.

ITEM 11.    Executive Compensation

Information called for by this item concerning compensation of First Commonwealth’s executive officers and the report of the Compensation and Human Resources Committee will be included in the Proxy Statement under the heading “Executive Compensation,” and is incorporated herein by reference.

Information called for by this item concerning compensation of First Commonwealth’s directors will be included in the Proxy Statement under the heading “Compensation of Directors,” and is incorporated herein by reference.

ITEM 12.    Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Information called for by this item concerning security ownership of certain beneficial owners and security ownership of management will be included in the Proxy Statement under the headings “Stock Ownership of Certain Beneficial Owners” and “Stock Ownership of Directors and Management,” and is incorporated herein by reference. 

The following table provides information related to our existing equity compensation plans as of December 31, 2021:

Plan Category	Number of securities to  be issued upon exercise of outstanding options, warrants and rights	Weighted average exercise price of outstanding options, warrants and rights	Number of securities remaining available for future issuance under equity compensation plans
Equity compensation plans approved by security holders	391,100	N/A	2,434,596
Equity compensation plans not approved by security holders	N/A	N/A	N/A
Total	391,100	N/A	2,434,596

The number of securities to be issued upon exercise of outstanding option, warrants and rights represent the maximum number of shares that may be issued pursuant to outstanding performance units.

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ITEM 13.    Certain Relationships and Related Transactions, and Director Independence

Information called for by this item concerning transactions with related persons and review, approval or ratification of transactions with related persons will be included in the Proxy Statement under the heading “Related Party Transactions,” and is incorporated herein by reference.

Information called for by this item concerning director independence will be included in the Proxy Statement under the heading “Corporate Governance,” and is incorporated herein by reference.

ITEM 14.    Principal Accountant Fees and Services

Information called for by this item concerning fees paid to First Commonwealth’s principal accountant and First Commonwealth’s pre-approval policies and procedures will be included in the Proxy Statement under the heading “Audit Information,” and is incorporated herein by reference.

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PART IV

ITEM 15.    Exhibits, Financial Statements and Schedules

(A)Documents Filed as Part of this Report

(a)Financial Statements

All financial statements of the registrant as set forth under Item 8 of the Report on Form 10-K.

(2)    Financial Statement Schedules

Schedule Number	Description	Page
I	Indebtedness to Related Parties	N/A
II	Guarantees of Securities of Other Issuers	N/A

(3)Exhibits

Exhibit Number	Description	Incorporated by Reference to
3.1	Amended and Restated Articles of Incorporation of First Commonwealth Financial Corporation	Exhibit 3.1 to the quarterly report on Form 10-Q for the quarter ended June 30, 2010
3.2	Amended and Restated By-Laws of First Commonwealth Financial Corporation	Exhibit 3.1 to the current report as Form 8-K filed February 1, 2016
10.1	Amended and Restated Non-Qualified Deferred Compensation Plan (formerly known as the Supplemental Executive Retirement Plan)	Exhibit 10.1 to the current report on Form 8-K filed December 21, 2017
10.2	Amendment No, One to Amended and Restated Non-Qualified Deferred Compensation Plan	Exhibit 10.1 to the quarterly report on Form 10-Q for the quarter ended September 30, 2021
10.3	Amendment No, Two to Amended and Restated Non-Qualified Deferred Compensation Plan	Exhibit 10.2 to the quarterly report on Form 10-Q for the quarter ended September 30, 2021
	Amendment No, Three to Amended and Restated Non-Qualified Deferred Compensation Plan
10.4	Amendment No, Three to Amended and Restated Non-Qualified Deferred Compensation Plan	Exhibit 10.3 to the quarterly report on Form 10-Q for the quarter ended September 30, 2021
10.5	Amended and Restated Employment Agreement dated January 1, 2012 entered into among First Commonwealth Financial Corporation, First Commonwealth Bank and T. Michael Price	Exhibit 10.1 to the current report on Form 8-K filed January 5, 2012
10.6	Change of Control Agreement dated December 30, 2011 entered into between FCFC and T. Michael Price	Exhibit 10.3 to the current report on Form 8-K filed January 5, 2012
10.7	First Commonwealth Financial Corporation Incentive Compensation Plan	Annex I to Proxy Statement filed March 19, 2015 relating to the 2015 Annual Meeting of Shareholders
10.8	2021 Annual Incentive Plan	Exhibit 10.1 to the quarterly report on Form 10-Q for the quarter ended March 31, 2021
10.9	2019-2021 Long-Term Incentive Plan	Exhibit 10.2 to the quarterly report on Form 10-Q for the quarter ended March 31, 2019
10.8
10.1	2020-2022 Long-Term Incentive Plan	Exhibit 10.2 to the quarterly report on Form 10-Q for the quarter ended March 31, 2020
10.11	2021-2023 Long-Term Incentive Plan	Exhibit 10.2 to the quarterly report on Form 10-Q for the quarter ended March 31, 2021
10.12	Form of Restricted Stock Agreement for service-based restricted stock	Exhibit 10.3 to the quarterly report on Form 10-Q filed May 8, 2012
10.13	Change of Control Agreement dated December 30, 2011 entered into between FCFC and Leonard V. Lombardi	Exhibit 10.13 to the annual report on Form 10-K filed March 5, 2012

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Exhibit Number	Description	Incorporated by Reference to
10.14	Change of Control Agreement dated December 30, 2011 entered into between FCFC and Matthew C. Tomb	Exhibit 10.14 to the annual report on Form 10-K filed March 5, 2012
10.15	Employment Agreement dated April 10, 2014 between First Commonwealth Financial Corporation and James R. Reske	Exhibit 10.1 to the current report on Form 8-K filed April 10, 2014
10.16	Change of Control Agreement dated April 10, 2014 between First Commonwealth Financial Corporation and James R. Reske	Exhibit 10.3 to the current report on Form 8-K filed April 10, 2014
10.17	Change of Control Agreement dated November 14, 2019 entered into between FCFC and Norman J. Montgomery	Exhibit 10.1 to current report on Form 8-K filed November 19, 2019
10.18	Change of Control Agreement dated March 1, 2013 entered into between FCFC and Carrie L. Riggle	Exhibit 10.4 to the quarterly report on Form 10-Q filed May 8, 2013
10.19	Change of Control Agreement dated May 31, 2013 entered into between FCFC and Jane Grebenc	Exhibit 10.2 to the quarterly report on Form 10-Q filed August 7, 2013
10.20	Employment Agreement dated May 31, 2013 entered into between FCFC and Jane Grebenc	Exhibit 10.1 to the quarterly report on Form 10-Q filed August 7, 2013
10.21	Employment Agreement dated September 19, 2016 entered into between FCFC and Brian Karrip	Exhibit 10.1 to the quarterly report on Form 10-Q filed November 9, 2016
10.22	Change of Control Agreement dated September 19, 2016 entered into between FCFC and Brian Karrip	Exhibit 10.2 to the quarterly report on Form 10-Q filed November 9, 2016
21.1	Subsidiaries of the Registrant	Filed herewith
23.1	Consent of EY LLP Independent Registered Public Accounting Firm	Filed herewith
31.1	Chief Executive Officer Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002	Filed herewith
31.2	Chief Financial Officer Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002	Filed herewith
32.1	Chief Executive Officer Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002	Filed herewith
32.2	Chief Financial Officer Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002	Filed herewith
101.00	The following materials from First Commonwealth Financial Corporation’s Annual Report on Form 10-K for the year ended December 31, 2020, formatted in XBRL (Extensible Business Reporting Language): (i) the Consolidated Balance Sheets at December 31, 2021 and December 31, 2020, (ii) the Consolidated Statements of Income for the years ended December 31, 2021, 2020 and 2019, (iii) the Consolidated Statements of Comprehensive Income for the years ended December 31, 2021, 2020 and 2019, (iv) the Consolidated Statements of Changes in Shareholders’ Equity for the years ended December 31, 2021, 2020 and 2019, (v) the Consolidated Statements of Cash Flows for the years ended December 31, 2021, 2020 and 2019, and (vi) the Notes to Consolidated Financial Statements.	Filed herewith

ITEM 16.    Form 10-K Summary

None.

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in Indiana, Pennsylvania.

FIRST COMMONWEALTH FINANCIAL CORPORATION (Registrant)
By:	/S/    T. Michael Price
	T. Michael Price President and Chief Executive Officer
	Dated: February 28, 2022

Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been executed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

Signature	Capacity	Date
/S/    Julie A. Caponi	Director	February 28, 2022
Julie A. Caponi
/S/    Ray T. Charley	Director	February 28, 2022
Ray T. Charley
/S/    Gary R. Claus	Director	February 28, 2022
Gary R. Claus
/S/    David S. Dahlmann	Director	February 28, 2022
David S. Dahlmann
/S/    Johnston A. Glass	Director	February 28, 2022
Johnston A. Glass
/S/    Jon L. Gorney	Director, Chairman	February 28, 2022
Jon L. Gorney
/S/ Jane Grebenc	Executive Vice President and Chief Revenue Officer	February 28, 2022
Jane Grebenc
/S/    David W. Greenfield	Director	February 28, 2022
David W. Greenfield
/S/ Bart E. Johnson	Director	February 28, 2022
Bart E. Johnson
/S/    Luke A. Latimer	Director	February 28, 2022
Luke A. Latimer
/S/ Aradhna M. Oliphant	Director	February 28, 2022
Aradhna M. Oliphant
/S/    T. Michael Price	President and Chief Executive Officer (Principal Executive Officer)	February 28, 2022
T. Michael Price
/S/    James R. Reske	Executive Vice President, Chief Financial Officer, and Treasurer	February 28, 2022
James R. Reske
/S/    Robert J. Ventura	Director	February 28, 2022
Robert J. Ventura
/S/ Stephen A. Wolfe	Director	February 28, 2022
Stephen A. Wolfe

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EX-21.1

Exhibit 21.1 Subsidiaries of First Commonwealth Financial Corporation

	Percent Ownership by Registrant
First Commonwealth Bank 601 Philadelphia Street Indiana, PA 15701 Incorporated under laws of Pennsylvania	100%
Subsidiaries of First Commonwealth Bank
First Commonwealth Insurance Agency 601 Philadelphia Street Indiana, PA 15701 Incorporated under laws of Pennsylvania	100%
First Commonwealth Community Development Corporation (Inactive) 654 Philadelphia Street Indiana, PA 15701 Incorporated under laws of Pennsylvania	100%
First Commonwealth Financial Advisors Incorporated 601 Philadelphia Street Indiana, PA 15701 Incorporated under laws of Pennsylvania	100%
FraMal Holdings Corporation 1100 N. Market Street, 4th Floor Wilmington, DE 19890 Incorporated under laws of Delaware	100%
First Commonwealth Capital Trust II 601 Philadelphia Street Indiana, PA 15701 Incorporated under laws of Pennsylvania	100%
First Commonwealth Capital Trust III 601 Philadelphia Street Indiana, PA 15701 Incorporated under laws of Pennsylvania	100%
Commonwealth Trust Credit Life Insurance Company 3101 North Central Avenue, Suite 400 Phoenix, AZ 85012 Incorporated under laws of Arizona	50%

EX-23.1

Exhibit 23.1 Consent of Independent Registered Public Accounting Firm

Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm

We consent to the incorporation by reference in the following Registration Statements:

(1)Registration Statement (Form S-3 No. 333-226681) of First Commonwealth Financial Corporation, and

(2)Registration Statement (Form S-3 No. 333-187288) of First Commonwealth Financial Corporation, and

(3)Registration Statement (Form S-8 No. 333-159090) of First Commonwealth Financial Corporation, and

(4)Registration Statement (Form S-8 No. 333-238312) of First Commonwealth Financial Corporation

of our reports dated February 28, 2022, with respect to the consolidated financial statements of First Commonwealth Financial Corporation and the effectiveness of internal control over financial reporting of First Commonwealth Financial Corporation included in this Annual Report (Form 10-K) of First Commonwealth Financial Corporation for the year ended December 31, 2021.

/s/ Ernst & Young LLP

Pittsburgh, Pennsylvania

February 28, 2022

EX-31.1

EXHIBIT 31.1CHIEF EXECUTIVE OFFICER CERTIFICATION
PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, T. Michael Price, certify that:

1.I have reviewed this annual report on Form 10-K of First Commonwealth Financial Corporation;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's Board of Directors (or persons performing the equivalent functions):

a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

February 28, 2022	/S/    T. Michael Price
Date	Signature
	President and Chief Executive Officer
	Title

EX-31.2

EXHIBIT 31.2CHIEF FINANCIAL OFFICER CERTIFICATION
PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, James R. Reske, certify that:

1.I have reviewed this annual report on Form 10-K of First Commonwealth Financial Corporation;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's Board of Directors (or persons performing the equivalent functions):

a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

February 28, 2022	/S/    James R. Reske
Date	Signature
	Executive Vice President, Chief Financial Officer and Treasurer
	Title

EX-32.1

EXHIBIT 32.1
CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADDED BY SECTION 906 OF THE
SARBANES-OXLEY ACT OF 2002

I, T. Michael Price, President and Chief Executive Officer of First Commonwealth Financial Corporation (“First Commonwealth”), certify that the Annual Report of First Commonwealth on Form 10-K for the period ended December 31, 2021, fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that the information contained in such report fairly presents, in all material respects, the financial condition of First Commonwealth at the end of such period and the results of operations of First Commonwealth for such period.

DATED: February 28, 2022	/S/    T. Michael Price
	T. Michael Price
	President and Chief Executive Officer

EX-32.2

EXHIBIT 32.2
CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADDED BY SECTION 906 OF THE
SARBANES-OXLEY ACT OF 2002

I, James R. Reske, Executive Vice President, Chief Financial Officer and Treasurer of First Commonwealth Financial Corporation (“First Commonwealth”), certify that the Annual Report of First Commonwealth on Form 10-K for the period ended December 31, 2021, fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that the information contained in such report fairly presents, in all material respects, the financial condition of First Commonwealth at the end of such period and the results of operations of First Commonwealth for such period.

DATED: February 28, 2022	/S/    James R. Reske
	James R. Reske
	Executive Vice President, Chief Financial Officer and Treasurer

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Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Feb. 28, 2022	Jun. 30, 2021
Document and Entity Information [Abstract]
Document Transition Report	false
Entity Incorporation, State or Country Code	PA
Document Annual Report	true
Title of 12(b) Security	COMMON STOCK, $1 PAR VALUE
Security Exchange Name	NYSE
Entity Tax Identification Number	25-1428528
Entity Address, Address Line One	601 PHILADELPHIA STREET
Entity Address, Postal Zip Code	15701
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2021
Entity File Number	001-11138
City Area Code	724
Local Phone Number	349-7220
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Trading Symbol	FCF
Entity Registrant Name	FIRST COMMONWEALTH FINANCIAL CORP /PA/
Entity Central Index Key	0000712537
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		94,299,094
Entity Public Float			$ 1,331,110,247
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Small Business	false
Entity Address, City or Town	INDIANA,
Entity Address, State or Province	PA

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Audit Information	12 Months Ended
	Dec. 31, 2021
Auditor [Line Items]
Auditor Name	Ernst & Young LLP
Auditor Location	Pittsburgh, Pennsylvania
Auditor Firm ID	42

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CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash and due from banks	$ 84,738	$ 100,009
Interest-bearing bank deposits	310,634	256,572
Securities available for sale, at fair value	(1,041,380)	(831,223)
Debt Securities, Held-to-maturity, Fair Value	536,651	369,851
Securities held to maturity, at amortized cost, (Fair value $536,651 at December 31, 2021 and $369,851 at December 31, 2020)	541,311	361,844
Other investments	12,838	12,227
Loans held for sale	18,583	33,436
Loans:
Portfolio loans	6,839,230	6,761,183
Allowance for credit losses	(92,522)	(101,309)
Net loans	6,746,708	6,659,874
Premises and equipment, net	120,775	125,517
Other real estate owned	642	1,215
Goodwill	303,328	303,328
Amortizing intangibles, net	11,188	13,492
Bank owned life insurance	224,700	225,952
Other assets	128,268	143,415
Total assets	9,545,093	9,068,104
Deposits (all domestic):
Noninterest-bearing	2,658,782	2,319,958
Interest-bearing	5,323,716	5,118,708
Total deposits	7,982,498	7,438,666
Short-term borrowings	138,315	117,373
Subordinated debentures	170,775	170,612
Other long-term debt	5,573	56,258
Capital lease obligation	5,921	6,385
Total long-term debt	182,269	233,255
Other liabilities	132,639	210,193
Total liabilities	$ 8,435,721	7,999,487
Shareholders’ Equity
Preferred stock, shares authorized (in shares)	3,000,000
Preferred stock, $1 par value per share, 3,000,000 shares authorized, none issued	$ 0	$ 0
Common stock, shares outstanding (in shares)	94,233,152	96,130,751
Common stock, shares authorized (in shares)	200,000,000
Common stock, shares issued (in shares)	113,914,902
Common stock, $1 par value per share, 200,000,000 shares authorized; 113,914,902 shares issued as of December 31, 2021 and 2020; and 94,233,152 and 96,130,751 shares outstanding at December 31, 2021 and 2020, respectively	$ 113,915	$ 113,915
Additional paid-in capital	496,121	494,683
Retained earnings	691,260	596,614
Accumulated other comprehensive (loss) income, net	$ (8,768)	$ 17,233
Treasury stock, shares (in shares)	19,681,750	17,784,151
Treasury stock (19,681,750 and 17,784,151 shares at December 31, 2021 and 2020, respectively)	$ (183,156)	$ (153,828)
Total shareholders’ equity	1,109,372	1,068,617
Total liabilities and shareholders’ equity	$ 9,545,093	$ 9,068,104

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CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Interest Income
Interest and fees on loans	$ 267,599	$ 275,189	$ 291,889
Interest and dividends on investments:
Taxable interest	24,723	24,063	29,773
Interest exempt from federal income taxes	595	1,053	1,591
Dividends	521	686	1,608
Interest on bank deposits	400	218	403
Total interest income	293,838	301,209	325,264
Interest Expense
Interest on deposits	5,749	21,972	36,725
Interest on short-term borrowings	99	704	8,298
Interest on subordinated debentures	8,555	8,580	9,084
Interest on other long-term debt	649	1,419	1,016
Interest Expense, Lessee, Assets under Capital Lease	245	263	279
Total interest expense	15,297	32,938	55,402
Net Interest Income	278,541	268,271	269,862
Provision for credit losses	(1,376)	56,718	14,533
Net Interest Income after Provision for Credit Losses	279,917	211,553	255,329
Noninterest Income
Net securities gains	16	70	22
Trust income	11,111	9,101	8,321
Service charges on deposit accounts	17,984	16,387	18,926
Insurance and retail brokerage commissions	8,502	7,850	7,583
Income from bank owned life insurance	6,433	6,552	6,002
Gain on sale of mortgage loans	13,555	18,764	7,765
Gain on sale of other loans and assets	(8,130)	(4,827)	(4,793)
Card related interchange income	27,954	23,966	21,677
Derivative, Gain (Loss) on Derivative, Net	2,344	(2,521)	(269)
Swap Fee Income	2,543	1,588	3,397
Other income	8,185	7,892	7,268
Total noninterest income	106,757	94,476	85,485
Noninterest Expense
Salaries and employee benefits	119,506	118,961	112,237
Net occupancy	16,586	17,647	18,923
Furniture and equipment	15,642	15,393	15,160
Data processing	12,373	10,543	10,692
Advertising and promotion	4,983	4,679	4,250
Pennsylvania shares tax	4,604	4,500	4,602
Intangible amortization	3,497	3,689	3,344
Other professional fees and services	4,501	3,886	4,631
FDIC insurance	2,529	2,699	1,219
Asset Impairment Charges	303	680	1,724
Litigation and operational losses	2,324	1,411	1,687
Merger and acquisition related	0	0	3,536
COVID-19 related expenses	449	874	0
Voluntary retirement plan expenses	0	3,422	0
Branch consolidation expense	(103)	2,672	0
Other operating expenses	26,663	24,770	27,960
Total noninterest expense	213,857	215,826	209,965
Income before income taxes	172,817	90,203	130,849
Income tax provision	34,560	16,756	25,516
Net Income	$ 138,257	$ 73,447	$ 105,333
Average Shares Outstanding (in shares)	95,583,890	97,499,586	98,317,787
Average Shares Outstanding Assuming Dilution (in shares)	95,840,285	97,758,965	98,588,164
Per Share Data:
Basic Earnings Per Share (in dollars per share)	$ 1.45	$ 0.75	$ 1.07
Diluted Earnings Per Share (in dollars per share)	1.44	0.75	1.07
Cash Dividends Declared per Common Share (in dollars per share)	$ 0.455	$ 0.440	$ 0.400

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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net Income	$ 138,257	$ 73,447	$ 105,333
Other comprehensive (loss) income, before tax (benefit) expense:
Unrealized holding (losses) gains on securities arising during the period	(29,892)	19,981	20,625
Less: reclassification adjustment for gains on securities included in net income	(16)	(70)	(22)
Unrealized holding (losses) gains on derivatives arising during the period	(3,356)	(4,467)	935
Unrealized gains (losses) for postretirement obligation:
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), after Reclassification Adjustment, before Tax	76	(537)	0
Net gain (loss)	275	(155)	(121)
Total other comprehensive (loss) income, before income tax (benefit) expense	(32,913)	14,752	21,417
Income tax (benefit) expense related to items of other comprehensive (loss) income	(6,912)	3,098	4,497
Comprehensive Income	$ 112,256	$ 85,101	$ 122,253

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CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in-Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss), net [Member]	Treasury Stock [Member]	Previously Reported [Member]	Previously Reported [Member] Common Stock [Member]	Previously Reported [Member] Additional Paid-in-Capital [Member]	Previously Reported [Member] Retained Earnings [Member]	Previously Reported [Member] Accumulated Other Comprehensive Income (Loss), net [Member]	Previously Reported [Member] Treasury Stock [Member]
Beginning balance at Dec. 31, 2018	$ 975,389	$ 113,915	$ 492,273	$ 511,409	$ (11,341)	$ (130,867)
Beginning balance, Shares Outstanding at Dec. 31, 2018		98,518,668
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	105,333			105,333
Total other comprehensive (loss) Income	16,920				16,920
Cash dividends declared	(39,394)			(39,394)
Treasury stock acquired	(6,259)					(6,259)
Treasury stock acquired		(486,849)
Treasury stock reissued	2,744		1,014	0		1,730
Treasury stock reissued, Shares Outstanding		205,021
Restricted stock, Shares Outstanding		75,000
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	932	$ 0	450	0		482
Ending balance at Dec. 31, 2019	1,055,665	$ 113,915	493,737	577,348	5,579	(134,914)
Ending balance, Shares Outstanding at Dec. 31, 2019		98,311,840
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	73,447			73,447
Total other comprehensive (loss) Income	11,654				11,654
Cash dividends declared	(42,982)			(42,982)
Treasury stock acquired	(20,905)					(20,905)
Treasury stock acquired		(2,430,842)
Treasury stock reissued	1,817		459	0		1,358
Treasury stock reissued, Shares Outstanding		158,453
Restricted stock, Shares Outstanding		91,300
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	1,120	$ 0	487	0		633
Ending balance at Dec. 31, 2020	$ 1,068,617						$ 1,068,617	$ 113,915	$ 494,683	$ 596,614	$ 17,233	$ (153,828)
Ending balance, Shares Outstanding at Dec. 31, 2020	96,130,751							96,130,751
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative Effect Of New Accounting Principle In Period Of Adoption	$ (11,199)			(11,199)
Net Income	138,257			138,257
Total other comprehensive (loss) Income	(26,001)				(26,001)
Cash dividends declared	(43,611)			(43,611)
Treasury stock acquired	(31,301)					(31,301)
Treasury stock acquired		(2,195,110)
Treasury stock reissued	2,264		771	0		1,493
Treasury stock reissued, Shares Outstanding		173,907
Restricted stock, Shares Outstanding		123,604
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	1,147	$ 0	667	0		480
Ending balance at Dec. 31, 2021	$ 1,109,372	$ 113,915	$ 496,121	$ 691,260	$ (8,768)	$ (183,156)
Ending balance, Shares Outstanding at Dec. 31, 2021	94,233,152	94,233,152

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Activities
Net Income	$ 138,257	$ 73,447	$ 105,333
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	(1,376)	56,718	14,533
Deferred Income Taxes and Tax Credits	1,432	(8,217)	2,292
Depreciation and amortization	11,442	11,653	10,370
Net gains on securities and other assets	(22,273)	(18,807)	(10,671)
Net amortization of premiums and discounts on securities	4,772	6,183	3,892
Income from increase in cash surrender value of bank owned life insurance	(6,105)	(6,288)	(5,998)
Mortgage loans originated for sale	(390,940)	(410,715)	(251,428)
Proceeds from Sale of Mortgage Loans Held-for-sale	419,574	408,877	251,968
Decrease (increase) in interest receivable	5,885	(10,735)	423
Decrease in interest payable	(412)	(879)	(256)
Increase (decrease) in income taxes payable	10,664	(887)	1,484
Other—net	(5,874)	5,349	(14,310)
Net cash provided by operating activities	165,046	105,699	107,632
Transactions with securities held to maturity:
Proceeds from Sale and Maturity of Held-to-maturity Securities	0	0	948
Proceeds from maturities and redemptions	120,728	118,905	54,632
Purchases	(361,734)	(85,679)	(200)
Transactions with securities available for sale:
Proceeds from sales	0	0	0
Proceeds from maturities and redemptions	433,910	472,282	189,194
Purchases	(676,861)	(411,178)	(138,670)
Purchases of FHLB stock	(4,453)	(22,231)	(36,850)
Proceeds from the redemption of FHLB stock	3,342	26,766	52,215
Proceeds from Sale of Other Investments	500	0	0
Proceeds from bank owned life insurance	7,357	1,444	557
Proceeds from the sale of loans	76,414	41,141	37,534
Proceeds from sales of other assets	7,798	5,531	6,822
Acquisition, net of cash acquired	0	0	332,468
Net increase in loans	(161,667)	(622,504)	(358,328)
Purchases of premises and equipment	(10,639)	(7,615)	(17,380)
Net cash (used in) provided by investing activities	(565,305)	(483,138)	122,942
Financing Activities
Net decrease in federal funds purchased	0	0	(11,000)
Net increase (decrease) in other short-term borrowings	20,942	(84,480)	(508,970)
Net increase in deposits	543,947	761,398	308,783
Repayments of other long-term debt	(50,685)	(659)	(634)
Proceeds from Issuance of Long-term Debt	0	0	50,000
Repayments of Long-term Capital Lease Obligations	464	430	402
Dividends paid	(43,611)	(42,982)	(39,394)
Proceeds from reissuance of treasury stock	222	222	211
Purchase of treasury stock	(31,301)	(20,905)	(6,259)
Net cash provided by (used in) financing activities	439,050	612,164	(207,665)
Net increase in cash and cash equivalents	38,791	234,725	22,909
Cash and cash equivalents at January 1	356,581	121,856	98,947
Cash and cash equivalents at December 31	$ 395,372	$ 356,581	$ 121,856

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Statement of Accounting Policies

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Statement of Accounting Policies

Statement of Accounting Policies

General

The following summary of accounting and reporting policies is presented to aid the reader in obtaining a better understanding of the consolidated financial statements of First Commonwealth Financial Corporation and its subsidiaries (“First Commonwealth”) contained in this report. First Commonwealth's subsidiaries include, First Commonwealth Bank ("FCB" or the "Bank"), First Commonwealth Insurance Agency, Inc. ("FCIA"), FRAMAL and First Commonwealth Financial Advisors, Inc. ("FCFA").

The financial information is presented in accordance with generally accepted accounting principles and general practice for financial institutions in the United States of America. In preparing financial statements, management is required to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. In addition, these estimates and assumptions affect revenues and expenses in the financial statements and as such, actual results could differ from those estimates.

Through its subsidiaries, which include a commercial bank and an insurance agency, First Commonwealth provides a full range of loan, deposit, trust, insurance and personal financial planning services primarily to individuals and small to middle market businesses in 26 counties in central and western Pennsylvania as well as throughout Ohio. First Commonwealth has determined that it has one business segment.

First Commonwealth is subject to regulations of certain state and federal agencies. These regulatory agencies periodically examine First Commonwealth for adherence to laws and regulations.

Basis of Presentation

The accompanying Consolidated Financial Statements include the accounts of First Commonwealth previously defined above. All material intercompany transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform to the current period's presentation.

Equity investments of less than a majority but at least 20% ownership are accounted for by the equity method and classified as “Other assets.” Earnings on these investments are reflected in “Other income” on the Consolidated Statements of Income, as appropriate, in the period earned.

Investment Securities

Debt securities that First Commonwealth has the positive intent and ability to hold to maturity are classified as securities held to maturity and are reported at amortized cost adjusted for amortization of premium and accretion of discount on a level yield basis. Debt and equity securities that are bought and held principally for the purpose of selling them in the near term are to be classified as trading securities and reported at fair value, with unrealized gains and losses included in earnings. Debt securities not classified as either held-to-maturity securities or trading securities are classified as securities available for sale and are reported at fair value, with unrealized gains and losses that are not related to impairment excluded from earnings and reported as a component of other comprehensive income, which is included in shareholders’ equity, net of deferred taxes.

First Commonwealth has securities classified as held to maturity and available for sale and does not engage in trading activities. First Commonwealth utilizes the specific identification method to determine the net gain or loss on debt securities and the average cost method to determine the net gain or loss on the equity securities.

First Commonwealth conducts a comprehensive review of the investment portfolio on a quarterly basis to evaluate for expected credit losses. When evaluating available-for-sale securities, management first considers whether we intend to sell the security, or if it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis. If there is intent to sell, the security's amortized cost is written down to fair value through income. Otherwise, available-for-sale securities whose market values have fallen below their book value are evaluated at the issuer-specific level to determine if the decline in value is a result of credit losses. Issuer-specific securities include obligations of U.S. Government agencies and sponsored enterprises, single issue trust preferred securities, corporate debentures and obligations of states and political subdivisions. Further analysis of these securities includes a review of research reports, analysts’ recommendations, credit rating changes, news stories, annual reports, impact of interest rate changes and any other relevant information pertaining to the affected security. Any loss not determined to be a credit loss is recorded as a reduction to shareholders equity, through other comprehensive income. Held-to-maturity securities are evaluated for impairment on a quarterly basis using historical probability of default and loss given default information specific to the investment category. If this evaluation determines that credit losses exist an allowance for credit loss is recorded and included in earnings as a component of credit loss expense.

Mortgage Loans Held for Sale

Certain residential mortgage loans are originated for sale in the secondary mortgage loan market with the majority sold with servicing rights released. These loans are classified as loans held for sale and are carried at the estimated market value on an aggregate basis. Market value is determined on the basis of rates obtained in the respective secondary market for the type of loan held for sale. Loans are generally sold at a premium or discount from the carrying amount of the loan. Such premium or discount is recognized at the date of sale. Gain or loss on the sale of loans is recorded in non-interest income at the time consideration is received and all other criteria for sales treatment have been met.

Loans

Loans are carried at the principal amount outstanding. Interest is accrued as earned. Loans held for sale are carried at the lower of cost or fair market value determined on an individual basis.

First Commonwealth considers a loan to be past due and still accruing interest when payment of interest or principal is contractually past due but the loan is both well secured and in the process of collection. For installment, mortgage, term and other loans with amortizing payments that are scheduled monthly, 90 days past due is reached when four monthly payments are due and unpaid. For demand, time and other multi-payment obligations with payments scheduled other than monthly, delinquency status is calculated using number of days instead of number of payments. Revolving credit loans, including personal credit lines and home equity lines, are considered to be 90 days past due when the borrower has not made the minimum payment for four monthly cycles.

A loan is placed in nonaccrual status when, based on current information and events, it is probable that First Commonwealth will be unable to fully collect principal or interest due according to the contractual terms of the loan. A loan is also placed in nonaccrual status when, based on regulatory definitions, the loan is maintained on a “cash basis” due to the weakened financial condition of the borrower. When a determination is made to place a loan in nonaccrual status, all accrued and unpaid interest is reversed. Nonaccrual loans are restored to accrual status when, based on a sustained period of repayment by the borrower in accordance with the contractual terms of the loan, First Commonwealth expects repayment of the remaining contractual principal and interest or when the loan otherwise becomes well-secured and in the process of collection.

First Commonwealth considers a loan to be a troubled debt restructured loan when the loan terms have been renegotiated to provide a reduction or deferral of principal or interest as a result of the financial difficulties experienced by the borrower, who could not obtain comparable terms from alternate financing sources. Troubled debt restructured loans are considered to be nonperforming loans.

A loan is considered to be nonperforming when, based on current information and events, it is expected that First Commonwealth will be unable to collect principal or interest that is due in accordance with contractual terms of the loan. Nonperforming loans include nonaccrual loans and troubled debt restructured loans. Expected losses on nonperforming loans are measured based on the present value of expected cash flows discounted at the loan’s effective interest rate or, as a practical expedient, at the loan’s observable market price or the fair value of the collateral if the loan is collateral dependent.

For loans other than those that First Commonwealth expects repayment through liquidation of the collateral, when the remaining recorded investment in the loan is less than or equal to the present value of the expected cash flows, income is applied as a reduction to loan principal rather than interest income.

Loans deemed uncollectible are charged off through the allowance for credit losses. Factors considered in assessing ultimate collectability include past due status, financial condition of the borrower, collateral values and debt covenants including secondary sources of repayment by guarantors. Payments received on previously charged off loans are recorded as recoveries in the allowance for credit losses.

Acquired loans are recorded at estimated fair value on the date of acquisition with no carryover of the related allowance for credit losses. The fair value of acquired loans is determined by estimating the principal and interest cash flows expected to be collected on the loans and discounting those cash flows at a market rate of interest. The estimated fair value considers factors such as loan term, internal risk rating, delinquency status, prepayment rates, estimated value of the underlying collateral and the current interest rate environment.

Loan Fees

Loan origination and commitment fees, net of associated direct costs, are deferred and the net amount is amortized as an adjustment to the related loan yield on the interest method, generally over the contractual life of the related loans or commitments.

Other Real Estate Owned

Real estate, other than bank premises, is recorded at fair value less estimated selling costs at the time of acquisition.   After that time, other real estate is carried at the lower of cost or fair value less estimated costs to sell. Fair value is determined based on an independent appraisal. Expenses related to holding the property and rental income earned on the property are generally reflected in earnings in the current period. Depreciation is not recorded on the other real estate owned properties.

Allowance for Credit Losses for Loans

On January 1, 2020, First Commonwealth adopted ASU 2016-13 Financial Instruments - Credit Losses ("Topic 326"), which replaces the incurred loss methodology for determining our allowance for credit losses and related provision for credit losses with an expected loss methodology that is referred to as the Current Expected Credit Loss ("CECL") model. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including our loans.

We adopted ASU 2016-13 using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet credit exposures and recognized a cumulative effect adjustment reducing retained earnings by $11.2 million, net of tax. First Commonwealth made the accounting policy election to exclude accrued interest from the allowance for credit loss calculation because these balances are written off or reversed when a loan is placed in non-accrual status.

In connection with our adoption of ASU 2016-13, we made changes to our loan portfolio segments, as compared to loan segments under the incurred model, to align with the methodology applied in determining the allowance under CECL. Refer to Note 8, " Loans and Allowance for Credit Losses" for further discussion of these portfolio segments.

Under CECL, the allowance for credit losses is calculated by pooling loans of similar credit risk characteristics and applying a discounted cash flow methodology after incorporating probability of default and loss given default estimates. Probability of default represents an estimate of the likelihood of default and loss given default measures the expected loss upon default. Inputs impacting the expected losses includes a forecast of macroeconomic factors, using a weighted forecast from a nationally recognized firm. Our model incorporates a one-year forecast of macroeconomic factors, after which the factors revert back to the historical mean over a one-year period.

Results for reporting periods beginning after January 1, 2020 are presented under ASU 2016-13 while prior period amounts continue to be reported in accordance with previously applicable GAAP.

Prior to January 1, 2020, the allowance for credit losses was estimated based on management's assessment of probable estimated losses. In addition to loan category, the major loan classifications used in the allowance for credit losses calculation include pass, other assets especially mentioned (“OAEM”), substandard and doubtful. Additional information related to these credit quality categories is provided in Note 8, "Loans and Allowance for Credit Losses." Under this incurred methodology, the allowance calculation uses net historical charge-off trends to estimate probable unconfirmed losses for each loan category.

A multiplier known as the emergence factor is applied to the historical loss rates for non-criticized loans. The emergence factor is calculated by loan category and represents the average time period from when a loss is incurred until the bank experiences a charge-off against the loan. Before applying the adjusted historical loss experience percentages, loan balances are reduced by the portion of the loan balances which are subject to guarantee by a government agency.

Under the incurred model, loans acquired with evidence of credit deterioration were evaluated and not considered to be significant. The premium or discount estimated through the loan fair value calculation is recognized in interest income on a level yield or straight-line basis over the remaining contractual life of the loans. Additional credit deterioration on acquired loans, in excess of the original credit discount embedded in the fair value determination on the date of acquisition, was recognized in the allowance for credit losses through the provision for loan losses.

As part of both CECL and the incurred methodology, all nonperforming credits, which includes nonaccrual loans and all troubled debt restructurings ("TDRs"), in excess of $250 thousand are individually evaluated on a quarterly basis. A specific reserve is established for individually evaluated loans in an amount equal to the total amount of estimated losses for the loans that are reviewed. Based on this reserve as a percentage of reviewed loan balances, a reserve is also established for the nonperforming loan balances that are not individually reviewed.

An additional component of the allowance is determined by management based on a qualitative analysis of certain factors related to portfolio risks that are not incorporated in the calculated model. Factors considered by management include lending practices, ability and experience of the credit staff, the overall lending environment and external factors such as the regulatory environment and competition. Portfolio risks include unusual changes or recent trends in specific portfolios such as unexpected changes in the trends or levels of delinquency. No matter how detailed an analysis of potential credit losses is performed, these

estimates are inherently imprecise. Management must make estimates using assumptions and information that is often subjective and changes rapidly.

Allowance for Off-Balance Sheet Credit Exposures

First Commonwealth maintains an allowance for off-balance sheet credit exposure at a level deemed sufficient to absorb losses that are inherent to off-balance sheet credit risk. Off-balance sheet credit exposure includes commitments to extend credit, standby letters of credit and commercial letters of credit. The Company’s methodology for assessing the appropriateness of the allowance for off-balance sheet credit exposure consists of analysis of historical usage trends. The calculation begins with historical usage trends related to lines of credit as well as letters of credit and then utilizes those figures to determine the probable usage of available lines. These values are then adjusted by the expected loss percentage calculated for comparable loan categories as part of the allowance for credit losses for loans. This amount is adjusted quarterly and any change to the allowance is reported as part of provision expense on the Consolidated Statements of Income. The allowance for off-balance sheet credit exposures is reflected in "Other Liabilities" in the Consolidated Statements of Finance Condition.

Bank Owned Life Insurance

First Commonwealth and the banks that First Commonwealth has acquired have purchased insurance on the lives of certain groups of employees. The policies accumulate asset values to meet future liabilities, including the payment of employee benefits such as health care. Increases in the cash surrender value are recorded as non-interest income in the Consolidated Statements of Income and cash receipts and disbursements are included in "Operating Activities" in the Consolidated Statements of Cash Flows. Under some of these policies, the beneficiaries receive a portion of the death benefit. The net present value of the future death benefits scheduled to be paid to the beneficiaries was $4.5 million and $4.6 million as of December 31, 2021 and 2020, respectively, and is reflected in "Other Liabilities" on the Consolidated Statements of Financial Condition.

Premises, Equipment and Lease Commitments

Premises and equipment are carried at cost less accumulated depreciation on First Commonwealth’s Consolidated Statements of Financial Condition. Depreciation is computed on the straight-line and accelerated methods over the estimated useful life of the asset. A straight-line depreciation method was used for substantially all furniture and equipment. The straight-line depreciation method was used for buildings and improvements. Charges for maintenance and repairs are expensed as incurred. Leasehold improvements are expensed over the term of the lease or the estimated useful life of the improvement, whichever is shorter.

Software costs are amortized on a straight-line basis over a period not to exceed 7 years.

A right-of-use asset and related lease liability is recognized on the Consolidated Statements of Financial Condition for operating leases First Commonwealth has entered to lease certain office facilities. These amounts are reported as components of premises and equipment and other liabilities. Short-term operating leases, which are leases with an original term of 12 months or less and do not have a purchase option that is likely to be exercised, are not recognized as part of the right-of-use asset or lease liability. First Commonwealth has no material leasing arrangements for which it is the lessor of property or equipment.

Business Combinations

Business combinations are accounted for by using the acquisition method of accounting. Under the acquisition method, identifiable assets acquired and liabilities assumed at the acquisition date are measured at their fair values as of that date, and are recognized separately from goodwill. The difference between the purchase price and the fair value of the net assets acquired is recorded as goodwill. Results of operations of the acquired entities are included in the consolidated statement of income from the date of acquisition. Acquisition costs are expensed when incurred.

Goodwill

Intangible assets resulting from acquisitions under the purchase method of accounting consist of goodwill and other intangible assets (see “Other Intangible Assets” section below). Goodwill is not amortized and is subject to at least annual assessments for impairment. First Commonwealth reviews goodwill annually and again at any quarter-end if a material event occurs during the quarter that may affect goodwill. When circumstances indicate that it is more likely than not that fair value is less than carrying value, a triggering event has occurred and a quantitative impairment test is performed. Goodwill is evaluated for potential impairment by determining if our fair value has fallen below carrying value.

Other Intangible Assets

Other intangible assets consist of core deposits and customer lists obtained through acquisitions. Core deposit intangibles are amortized over their estimated lives using the present value of the benefit of the core deposits and straight-line methods of amortization. Customer list intangibles are amortized over the expected lives using expected cash flows based on retention of

the customer base. These intangibles are evaluated for impairment on an annual basis and when events or changes in circumstances indicate that the carrying amount may not be recoverable.

Accounting for the Impairment of Long-Lived Assets

First Commonwealth reviews long-lived assets, such as premises and equipment and intangibles, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. These changes in circumstances may include a significant decrease in the market value of an asset or the extent or manner in which an asset is used. If there is an indication that the carrying amount of an asset may not be recoverable, future undiscounted cash flows expected to result from the use of the asset are estimated. If the sum of the expected cash flows is less than the carrying value of the asset, a loss is recognized for the difference between the carrying value and fair value of the asset. Long-lived assets classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. Depreciation or amortization is discontinued on long-lived assets classified as held for sale.

Income Taxes

First Commonwealth records taxes in accordance with the asset and liability method of FASB ASC Topic 740, “Income Taxes,” ("Topic 740") whereby deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amount of existing assets and liabilities and their respective tax bases given the provisions of the enacted tax laws. Deferred tax assets are reduced, if necessary, by the amount of such benefits that are more likely than not expected to be realized based upon available evidence. In accordance with Topic 740, interest or penalties incurred for taxes will be recorded as a component of noninterest expense.

Comprehensive Income Disclosures

“Other Comprehensive Income” (comprehensive income, excluding net income) includes the after-tax effect of changes in unrealized holding gains and losses on available-for-sale securities, changes in the funded status of defined benefit postretirement plans and changes in the fair value of cash flow hedges. Comprehensive income is reported in the accompanying Consolidated Statements of Comprehensive Income, net of tax.

Cash and Cash Equivalents

For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, federal funds sold and interest-bearing bank deposits. Generally, federal funds are sold for one-day periods.

Derivatives and Hedging Activities

First Commonwealth accounts for derivative instruments and hedging activities in accordance with FASB ASC Topic 815, “Derivatives and Hedging" ("Topic 815"). All derivatives are evaluated at inception as to whether or not they are hedging or non-hedging activities, and appropriate documentation is maintained to support the final determination. First Commonwealth recognizes all derivatives as either assets or liabilities on the Consolidated Statements of Financial Condition and measures those instruments at fair value. For derivatives designated as fair value hedges, changes in the fair value of the derivative and the hedged item related to the hedged risk are recognized in earnings. Any hedge ineffectiveness would be recognized in the income statement line item pertaining to the hedged item. For derivatives designated as cash flow hedges, changes in fair value of the effective portion of the cash flow hedges are reported in other comprehensive income ("OCI"). When the cash flows associated with the hedged item are realized, the gain or loss included in OCI is recognized in the Consolidated Statement of Income.

When First Commonwealth purchases a portion of a commercial loan that has an existing interest rate swap, it enters a Risk Participation Agreement with the counterparty and assumes the credit risk of the loan customer related to the swap. Any fee paid to First Commonwealth as a result of the risk participation agreement is offset by credit risk of the counterparties and is recognized in the income statement. Credit risk on the risk participation agreements is determined after considering the risk rating, probability of default and loss given default of the counterparties.

Management periodically reviews contracts from various functional areas of First Commonwealth to identify potential derivatives embedded within selected contracts. As of December 31, 2021, First Commonwealth has interest rate derivative positions that are designated as hedging instruments and others that are not designated as hedging instruments. See Note 6, “Derivatives,” for a description of these instruments.

Earnings Per Common Share

Basic earnings per share excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding for the period.

Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. For all periods presented, the dilutive effect on average shares outstanding is the result of unvested restricted stock grants.

Fair Value Measurements

In accordance with FASB ASC Topic 820, “Fair Value Measurements and Disclosures" ("Topic 820"), First Commonwealth groups financial assets and financial liabilities measured at fair value into three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are:

•Level 1—Valuations for assets and liabilities traded in active exchange markets, such as the New York Stock Exchange ("NYSE"). Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities.

•Level 2—Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained for identical or comparable assets or liabilities from alternative pricing sources with reasonable levels of price transparency. Level 2 securities include U.S. Government securities issued by Agencies and Sponsored Enterprises, Obligations of States and Political Subdivisions, certain corporate securities, FHLB stock, loans held for sale, interest rate derivatives that include interest rate swaps, risk participation agreements and foreign currency contracts, certain other real estate owned and certain nonperforming loans.

•Level 3—Valuations for assets and liabilities that are derived from other valuation methodologies, including option pricing models, discounted cash flow models and similar techniques, and not based on market exchange, dealer or broker traded transactions. If the inputs used to provide the evaluation are unobservable and/or there is very little, if any, market activity for the security or similar securities, the securities would be considered Level 3 securities. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets or liabilities. The assets included in Level 3 are nonmarketable equity investments, certain other real estate owned and certain nonperforming loans.

In general, fair values of financial instruments are based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based upon pricing models that primarily use, as inputs, observable market-based parameters. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. These adjustments may include amounts to reflect counterparty credit quality and our creditworthiness, among other things, as well as unobservable parameters. Any such valuation adjustments are applied consistently over time. See Note 16 “Fair Values of Assets and Liabilities” for additional information.

Revenue from Contracts with Customers

First Commonwealth records revenue from contracts with customers in accordance with ASC Topic 606, “Revenue from Contracts with Customers” (“Topic 606”). Under Topic 606, the Company must identify the contract with a customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract, and recognize revenue when (or as) the Company satisfies a performance obligation.

A significant component of the Company's revenue, net interest earned on financial assets and liabilities, is excluded from the scope of Topic 606. First Commonwealth generally fully satisfies its performance obligations on its contracts with customers as services are rendered and the transaction prices are typically fixed; charged either on a periodic basis or based on activity. Because performance obligations are satisfied as services are rendered and the transaction prices are fixed, the Company has made no significant judgments in applying the revenue guidance prescribed in Topic 606 that affect the determination of the amount and timing of revenue from contracts with customers.

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Supplemental Comprehensive Income Disclosures

12 Months Ended

Dec. 31, 2021

Supplemental Comprehensive Income Disclosures [Abstract]

Supplemental Comprehensive Income Disclosures

Supplemental Comprehensive Income Disclosures

The following table identifies the related tax effects allocated to each component of other comprehensive income in the Consolidated Statements of Comprehensive Income as of December 31. Reclassification adjustments related to securities available for sale are included in the “Net securities gains” line in the Consolidated Statements of Income.

	2021						2020						2019
	Pretax Amount		Tax (Expense) Benefit		Net of Tax Amount		Pretax Amount		Tax (Expense) Benefit		Net of Tax Amount		Pretax Amount		Tax (Expense) Benefit		Net of Tax Amount
	(dollars in thousands)
Unrealized gains (losses) on securities:
Unrealized holding (losses) gains on securities arising during the period	$	(29,892)	$	6,278	$	(23,614)	$	19,981	$	(4,196)	$	15,785	$	20,625	$	(4,331)	$	16,294
Reclassification adjustment for gains on securities included in net income	(16)		3		(13)		(70)		15		(55)		(22)		5		(17)
Total unrealized (losses) gains on securities	(29,908)		6,281		(23,627)		19,911		(4,181)		15,730		20,603		(4,326)		16,277
Unrealized gains (losses) on derivatives:
Unrealized holding (losses) gains on derivatives arising during the period	(3,356)		705		(2,651)		(4,467)		938		(3,529)		935		(196)		739
Total unrealized (losses) gains on derivatives	(3,356)		705		(2,651)		(4,467)		938		(3,529)		935		(196)		739
Unrealized gains (losses) for postretirement obligations:
Prior service cost	76		(16)		60		(537)		113		(424)		—		—		—
Net gain (loss)	275		(58)		217		(155)		32		(123)		(121)		25		(96)
Total unrealized gains (losses) for postretirement obligations	351		(74)		277		(692)		145		(547)		(121)		25		(96)
Total other comprehensive (loss) income	$	(32,913)	$	6,912	$	(26,001)	$	14,752	$	(3,098)	$	11,654	$	21,417	$	(4,497)	$	16,920

The following table details the change in components of OCI for the year-ended December 31:

	2021
	Securities Available for Sale		Derivatives		Post-Retirement Obligation		Accumulated Other Comprehensive Income
	(dollars in thousands)
Balance at January 1	$	20,310	$	(2,895)	$	(182)	$	17,233
Other comprehensive loss before reclassification adjustment	(23,614)		(2,651)				(26,265)
Amounts reclassified from accumulated other comprehensive income (loss)	(13)		—				(13)
Prior service cost					60		60
Net gain					217		217
Net other comprehensive loss during the period	(23,627)		(2,651)		277		(26,001)
Balance at December 31	$	(3,317)	$	(5,546)	$	95	$	(8,768)
	2020
	Securities Available for Sale		Derivatives		Post-Retirement Obligation		Accumulated Other Comprehensive Income
	(dollars in thousands)
Balance at January 1	$	4,580	$	634	$	365	$	5,579
Other comprehensive income before reclassification adjustment	15,785		(3,529)				12,256
Amounts reclassified from accumulated other comprehensive income (loss)	(55)		—				(55)
Net gain					(123)		(123)
Net other comprehensive income during the period	15,730		(3,529)		(547)		11,654
Balance at December 31	$	20,310	$	(2,895)	$	(182)	$	17,233
	2019
	Securities Available for Sale		Derivatives		Post-Retirement Obligation		Accumulated Other Comprehensive Income
	(dollars in thousands)
Balance at January 1	$	(11,697)	$	(105)	$	461	$	(11,341)
Other comprehensive income before reclassification adjustment	16,294		739				17,033
Amounts reclassified from accumulated other comprehensive income (loss)	(17)		—				(17)
Net gain					(96)		(96)
Net other comprehensive income during the period	16,277		739		(96)		16,920
Balance at December 31	$	4,580	$	634	$	365	$	5,579

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Supplemental Cash Flow Disclosures

12 Months Ended

Dec. 31, 2021

Supplemental Cash Flow Information [Abstract]

Supplemental Cash Flow Disclosures

Supplemental Cash Flow Disclosures

The following table presents information related to cash paid during the year for interest and income taxes as well as detail on non-cash investing and financing activities for the years ended December 31:

	2021		2020		2019
	(dollars in thousands)
Cash paid during the period for:
Interest	$	15,624	$	33,964	$	56,005
Income taxes	22,374		25,914		21,787
Non-cash investing and financing activities:
Loans transferred to other real estate owned and repossessed assets	3,163		3,865		4,723
Fair value of loans transferred from held to maturity to held for sale	73,697		37,305		30,359
Loans transferred from held for sale to held to maturity	—		4,335		482
Gross (decrease) increase in market value adjustment to securities available for sale	(29,908)		19,911		20,604
Gross (decrease) increase in market value adjustment to derivatives	(3,356)		(4,467)		935
Investments committed to purchase, not settled	—		(34,185)		25,484
Increase in limited partnership investment unfunded commitment	7,565		—		1,469
Net assets (liabilities) acquired through acquisition	—		—		(361,595)
Proceeds from death benefit on bank-owned life insurance not received	—		(384)		484
Treasury shares issued	2,042		1,594		2,531

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Earnings per Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Earnings per Share

Earnings per Share

The following table summarizes the composition of the weighted-average common shares (denominator) used in the basic and diluted earnings per share computation for the years ending December 31:

	2021		2020		2019
Weighted average common shares issued	113,914,902		113,914,902		113,914,902
Average treasury shares	(18,140,857)		(16,254,304)		(15,447,299)
Average deferred compensation shares	(55,590)		(42,751)		(37,496)
Average unearned nonvested shares	(134,565)		(118,261)		(112,320)
Weighted average common shares and common stock equivalents used to calculate basic earnings per share	95,583,890		97,499,586		98,317,787
Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share	200,712		203,836		231,957
Additional common stock equivalents (deferred compensation) used to calculated diluted earnings per share	55,683		55,543		38,420
Weighted average common shares and common stock equivalents used to calculate diluted earnings per share	95,840,285		97,758,965		98,588,164
Per Share Data
Basic Earnings Per Share	$	1.45	$	0.75	$	1.07
Diluted Earnings Per Share	$	1.44	$	0.75	$	1.07

The following table shows the number of shares and the price per share related to common stock equivalents that were not included in the computation of diluted earnings per share for the years ended December 31, because to do so would have been anti-dilutive.

	12/31/2021					12/31/2020					12/31/2019
		Price Range					Price Range					Price Range
	Shares	From		To		Shares	From		To		Shares	From		To
Restricted Stock	99,344	$	12.77	$	15.96	92,499	$	13.72	$	15.44	81,730	$	12.99	$	15.44
Restricted Stock Units	—	$	—	$	—	106,931	$	12.43	$	15.37	26,217	$	16.62	$	16.62

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Cash and Due from Banks	12 Months Ended
	Dec. 31, 2021
Cash and Due from Banks [Abstract]
Cash and Due from Banks	Cash and Due from BanksRegulations of the Board of Governors of the Federal Reserve System impose uniform reserve requirements on all depository institutions with transaction accounts, such as checking accounts and NOW accounts. Reserves are maintained in the form of vault cash or balances held with the local Federal Reserve Bank. First Commonwealth Bank maintained average balances of $309.6 million during 2021 and $173.2 million during 2020 with the Federal Reserve Bank of Cleveland.

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Derivatives

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

Derivatives

Derivatives Not Designated as Hedging Instruments

First Commonwealth is a party to interest rate derivatives that are not designated as hedging instruments. These derivatives relate to interest rate swaps that First Commonwealth enters into with customers to allow customers to convert variable rate loans to a fixed rate. First Commonwealth pays interest to the customer at a floating rate on the notional amount and receives interest from the customer at a fixed rate for the same notional amount. At the same time the interest rate swap is entered into with the customer, an offsetting interest rate swap is entered into with another financial institution. First Commonwealth pays the other financial institution interest at the same fixed rate on the same notional amount as the swap entered into with the customer, and receives interest from the financial institution for the same floating rate on the same notional amount.

The changes in the fair value of the swaps offset each other, except for the credit risk of the counterparties, which is determined by taking into consideration the risk rating, probability of default and loss given default for all counterparties.

We have 39 risk participation agreements with financial institution counterparties for interest rate swaps related to loans in which we are a participant. The risk participation agreements provide credit protection to the financial institution should the borrower fail to perform on its interest rate derivative contract with the financial institution. We have 17 risk participation agreements with financial institution counterparties for interest rate swaps related to loans in which we are the lead bank. The risk participation agreement provides credit protection to us should the borrower fail to perform on its interest rate derivative contract with us.

First Commonwealth is also party to interest rate caps and collars that are not designated as hedging instruments. The interest rate caps relate to contracts that First Commonwealth enters into with loan customers that provide a maximum interest rate on their variable rate loan. At the same time the interest rate cap is entered into with the customer, First Commonwealth enters into an offsetting interest rate cap with another financial institution. The notional amount and maximum interest rate on both interest cap contracts are identical. The interest rate collars relate to contracts that First Commonwealth enters into with loan customers that provides both a maximum and minimum interest rate on their variable rate loan. At the same time the interest rate collar is entered into with the customer, First Commonwealth enters into an offsetting interest rate collar with another financial institution. The notional amount and the maximum and minimum interest rates on both interest collar contracts are identical.

The fee received, less the estimate of the loss for the credit exposure, was recognized in earnings at the time of the transaction.

Derivatives Designated as Hedging Instruments

In August 2019, the Company entered into two interest rate swap contracts that are designated as cash flow hedges. These contracts mature on August 15, 2024 and August 15, 2026 and have notional amounts of $30.0 million and $40.0 million, respectively. The Company's risk management objective for these hedges is to reduce its exposure to variability in expected future cash flows related to interest payments made on subordinated debentures benchmarked to the 3-month LIBOR rate. Therefore, the interest rate swaps convert the interest rate benchmark on the first $70.0 million of 3-month LIBOR based subordinated debentures to a fixed rate.

During 2021, the Company entered into eight interest rate swap contracts that were designated as cash flow hedges. The interest rate swaps have a total notional amount of $500.0 million; $75.0 million with an original maturity of three years, $175.0 million with an original maturity of four years and $250.0 million with an original maturity of five years. The Company's risk management objective for these hedges is to reduce its exposure to variability in expected future cash flows related to interest payments on commercial loans benchmarked to the 1-month LIBOR rate. Therefore, the interest rate swaps convert the interest payments on the first $500.0 million of 1-month LIBOR based commercial loans into fixed rate payments.

The periodic net settlement of these interest rate swaps are recorded as an adjustment to "Interest on subordinated debentures" or "Interest and fees on loans" in the Consolidated Statement of Income. For the years ended December 31, 2021 and 2019, net interest income increased $0.6 million and $41 thousand, respectively, and decreased $0.4 million for the year ended December 31, 2020 as a result of these interest rate swaps. Changes in the fair value of the cash flow hedges are reported on the

balance sheet and in OCI. When the cash flows associated with the hedged item are realized, the gain or loss included in OCI is recognized in "Interest on subordinated debentures" or "Interest and fees on loans," in the Consolidated Statements of Income in the same line item as the income or expense on the hedged items. The cash flow hedges were highly effective at December 31, 2021 and changes in the fair value attributed to hedge ineffectiveness were not material.

The Company also enters into interest rate lock commitments in conjunction with its mortgage origination business. These are commitments to originate loans whereby the interest rate on the loan is determined prior to funding and the customers have locked into that interest rate. The Company locks in the rate with an investor and commits to deliver the loan if settlement occurs (“best efforts”) or commits to deliver the locked loan in a binding (“mandatory”) delivery program with an investor. Loans under mandatory rate lock commitments are covered under forward sales contracts of mortgage-backed securities (“MBS”). Forward sales contracts of MBS are recorded at fair value with changes in fair value recorded in "Noninterest income" in the Consolidated Statements of Income. The impact to noninterest income for the years ended December 31, 2021 was a decrease of $0.5 million and an increase of $0.4 million and $0.1 million, respectively, for the years ended December 31, 2020 and 2019.

Interest rate lock commitments and commitments to deliver loans to investors are considered derivatives. The market value of interest rate lock commitments and best efforts contracts are not readily ascertainable with precision because they are not actively traded in stand-alone markets. We determine the fair value of rate lock commitments and delivery contracts by measuring the fair value of the underlying asset, which is impacted by current interest rates and taking into consideration the probability that the rate lock commitments will close or will be funded. At December 31, 2021, the underlying funded mortgage loan commitments had a carrying value of $11.0 million and a fair value of $11.9 million, while the underlying unfunded mortgage loan commitments had a notional amount of $29.7 million. At December 31, 2020, the underlying funded mortgage loan commitments had a carrying value of $25.0 million and a fair value of $28.4 million, while the underlying unfunded mortgage loan commitments had a notional amount of $47.9 million.

In addition, a small amount of interest income on loans is exposed to changes in foreign exchange rates. Several commercial borrowers have a portion of their operations outside of the United States and borrow funds on a short-term basis to fund those operations. In order to reduce the risk related to the translation of foreign denominated transactions into U.S. dollars, the Company enters into foreign exchange forward contracts. These contracts relate principally to the Euro and the Canadian dollar. The contracts are recorded at fair value with changes in fair value recorded in "Other operating expenses" in the Consolidated Statements of Income. The impact on other noninterest expense for the years ended December 31, 2021 totaled $11 thousand, $18 thousand and $5 thousand, respectively. At December 31, 2021, the underlying loans had both a carrying value and a fair value of $2.0 million. At December 31, 2020, the underlying loans had both a carrying value and a fair value of $2.1 million.

The following table depicts the credit value adjustment recorded relative to the notional amount of derivatives outstanding as well as the notional amount of risk participation agreements participated to other banks at December 31:

	2021		2020
	(dollars in thousands)
Derivatives not Designated as Hedging Instruments
Credit value adjustment	$	(395)	$	(2,792)
Notional Amount:
Interest rate derivatives	708,759		631,446
Interest rate caps	66,007		66,527
Interest rate collars	35,354		35,354
Risk participation agreements	241,111		220,280
Sold credit protection on risk participation agreements	(95,618)		(78,522)
Interest rate options	29,691		47,874
Derivatives Designated as Hedging Instruments
Interest rate swaps:
Fair value adjustment	(7,022)		(3,665)
Notional Amount	570,000		70,000
Interest rate forwards:
Fair value adjustment	(29)		(483)
Notional Amount	38,000		65,000
Foreign exchange forwards:
Fair value adjustment	12		(5)
Notional Amount	1,982		2,119

The table below presents the amount representing the change in the fair value of derivative assets and derivative liabilities attributable to credit risk included in “Other income” on the Consolidated Statements of Income for the years ended December 31:

	2021		2020		2019
	(dollars in thousands)
Non-hedging interest rate derivatives:
Increase (decrease) in other income	$	728	$	(981)	$	(269)
Decrease in other expense	—		—		(352)
Hedging interest rate derivatives:
Increase (decrease) in interest and fees on loans	1,567		—		(118)
Increase (decrease) in interest from subordinated debentures	959		449		(159)
Increase in other expense	—		—		7
Hedging interest rate forwards:
(Decrease) increase in other income	(454)		420		106
Increase in other expense	—		—		—
Hedging interest rate derivatives:
Increase in other expense	11		18		5

The fair value of our derivatives is included in a table in Note 16, “Fair Values of Assets and Liabilities,” in the line items “Other assets” and “Other liabilities.”

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Investment Securities

12 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Investment Securities

Investment Securities

Securities Available for Sale

Below is an analysis of the amortized cost and fair values of securities available for sale at December 31:

	2021								2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities – Residential	$	5,242	$	420	$	—	$	5,662	$	6,492	$	738	$	—	$	7,230
Mortgage-Backed Securities – Commercial	365,024		1,725		(4,459)		362,290		182,823		8,357		—		191,180
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities – Residential	632,687		6,308		(9,021)		629,974		481,109		14,924		—		496,033
Other Government-Sponsored Enterprises	1,000		—		(19)		981		100,996		2		—		100,998
Obligations of States and Political Subdivisions	9,538		89		(103)		9,524		11,154		243		—		11,397
Corporate Securities	32,088		973		(112)		32,949		22,941		1,444		—		24,385
Total Securities Available for Sale	$	1,045,579	$	9,515	$	(13,714)	$	1,041,380	$	805,515	$	25,708	$	—	$	831,223

Mortgage backed securities include mortgage backed obligations of U.S. Government agencies and obligations of U.S. Government-sponsored enterprises. These obligations have contractual maturities ranging from less than one year to approximately 30 years with lower anticipated lives to maturity due to prepayments. All mortgage backed securities contain a certain amount of risk related to the uncertainty of prepayments of the underlying mortgages. Interest rate changes have a direct impact upon prepayment speeds; therefore, First Commonwealth uses computer simulation models to test the average life and yield volatility of all mortgage backed securities under various interest rate scenarios to monitor the potential impact on earnings and interest rate risk positions.

Expected maturities will differ from contractual maturities because issuers may have the right to call or repay obligations with or without call or prepayment penalties. Other fixed income securities within the portfolio also contain prepayment risk.

The amortized cost and estimated fair value of debt securities available for sale at December 31, 2021, by contractual maturity, are shown below:

	Amortized Cost		Estimated Fair Value
	(dollars in thousands)
Due within 1 year	$	—	$	—
Due after 1 but within 5 years	13,874		14,334
Due after 5 but within 10 years	28,752		29,120
Due after 10 years	—		—
	42,626		43,454
Mortgage-Backed Securities (a)	1,002,953		997,926
Total Debt Securities	$	1,045,579	$	1,041,380

(a)Mortgage Backed Securities include an amortized cost of $370.3 million and a fair value of $368.0 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $632.7 million and a fair value of $630.0 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac.

Proceeds from sales of securities and gross gains (losses) realized on sales, calls and maturities of securities available for sale were as follows for the years ended December 31:

	2021		2020		2019
	(dollars in thousands)
Proceeds from sales	$	—	$	—	$	948
Gross (losses) gains realized:
Sales Transactions:
Gross gains	$	—	$	—	$	—
Gross losses	—		—		(7)
	—		—		(7)
Maturities
Gross gains	16		70		29
Gross losses	—		—		—
	16		70		29
Net gains	$	16	$	70	$	22

Gross gains from maturities recognized in 2021, 2020 and 2019 were the result of calls on municipal securities. Gross losses on sales transactions recognized in 2019 were the result of the sale of one municipal security after its credit rating was withdrawn.

Securities available for sale with an approximate fair value of $759.1 million and $792.1 million were pledged as of December 31, 2021 and 2020, respectively, to secure public deposits and for other purposes required or permitted by law.

Securities Held to Maturity

Below is an analysis of the amortized cost and fair values of debt securities held to maturity at December 31:

	2021								2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities – Residential	$	2,409	$	101	$	—	$	2,510	$	2,766	$	138	$	—	$	2,904
Mortgage-Backed Securities – Commercial	91,439		305		(1,939)		89,805		36,799		1,441		—		38,240
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities – Residential	387,848		2,800		(5,758)		384,890		277,351		5,389		(10)		282,730
Mortgage-Backed Securities – Commercial	7,309		148		—		7,457		9,737		344		—		10,081
Other Government-Sponsored Enterprises	21,904		—		(625)		21,279		—		—		—		—
Obligations of States and Political Subdivisions	29,402		414		(103)		29,713		34,391		705		—		35,096
Debt Securities Issued by Foreign Governments	1,000		—		(3)		997		800		—		—		800
Total Securities Held to Maturity	$	541,311	$	3,768	$	(8,428)	$	536,651	$	361,844	$	8,017	$	(10)	$	369,851

The amortized cost and estimated fair value of debt securities held to maturity at December 31, 2021, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties.

	Amortized Cost		Estimated Fair Value
	(dollars in thousands)
Due within 1 year	$	908	$	918
Due after 1 but within 5 years	7,610		7,653
Due after 5 but within 10 years	43,226		42,846
Due after 10 years	562		572
	52,306		51,989
Mortgage-Backed Securities (a)	489,005		484,662
Total Debt Securities	$	541,311	$	536,651

(a)Mortgage Backed Securities include an amortized cost of $93.8 million and a fair value of $92.3 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $395.2 million and a fair value of $392.3 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac.

Securities held to maturity with an amortized cost of $313.9 million and $228.1 million were pledged as of December 31, 2021 and 2020, respectively, to secure public deposits for other purposes required or permitted by law.

Other Investments

As a member of the Federal Home Loan Bank ("FHLB"), First Commonwealth is required to purchase and hold stock in the FHLB to satisfy membership and borrowing requirements. The level of stock required to be held is dependent on the amount of First Commonwealth's mortgage related assets and outstanding borrowings with the FHLB. This stock is restricted in that it can

only be sold to the FHLB or to another member institution, and all sales of FHLB stock must be at par. As a result of these restrictions, FHLB stock is unlike other investment securities insofar as there is no trading market for FHLB stock and the transfer price is determined by FHLB membership rules and not by market participants. As of December 31, 2021 and 2020, our FHLB stock totaled $11.7 million and $10.6 million, respectively and is included in “Other investments” on the Consolidated Statements of Financial Condition.

FHLB stock is held as a long-term investment and its value is determined based on the ultimate recoverability of the par value. First Commonwealth evaluates impairment quarterly and has concluded that the par value of its investment in FHLB stock will be recovered. Accordingly, no impairment charge was recorded on these securities for the year ended December 31, 2021.

At both December 31, 2021 and 2020, Other Investments also includes $1.2 million and $1.7 million, respectively, in equity securities. These securities do not have a readily determinable fair value and are carried at cost. For the years ended December 31, 2021 and 2020, there were no gains or losses recognized through earnings on equity securities. On a quarterly basis, management evaluates equity securities by reviewing research reports, analysts’ recommendations, credit rating changes, news stories, annual reports, regulatory filings, impact of interest rate changes and other relevant information.

Impairment of Investment Securities

On January 1, 2020, First Commonwealth adopted Topic 326, which requires estimated credit losses on held to maturity securities be recorded as an allowance for credit loss instead of a reduction in the amortized cost of the securities. Prior to the adoption of ASU 2016-13, credit related other-than-temporary impairment on debt securities was recognized in earnings while non-credit related other-than-temporary impairment on debt securities not expected to be sold was recognized in OCI.

There were no estimated credit losses recorded during the years ended December 31, 2021 and 2020. During the year ended December 31, 2019, no other-than-temporary impairment charges were recognized.

First Commonwealth utilizes the specific identification method to determine the net gain or loss on debt securities and the average cost method to determine the net gain or loss on equity securities.

We review our investment portfolio on a quarterly basis for indications of impairment. For available for sale securities the review includes analyzing the financial condition and near-term prospects of the issuer, including any specific events which may influence the operations of the issuer and whether we are more likely than not to sell the security. We evaluate whether we are more likely than not to sell debt securities based upon our investment strategy for the particular type of security and our cash flow needs, liquidity position, capital adequacy, tax position and interest rate risk position. Held-to-maturity securities are evaluated for impairment on a quarterly basis using historical probability of default and loss given default information specific to the investment category. If this evaluation determines that credit losses exist, an allowance for credit loss is recorded and included in earnings as a component of credit loss expense.

The following table presents the gross unrealized losses and estimated fair values at December 31, 2021 for available for sale securities for which an allowance for credit losses has not been recorded and held to maturity securities by investment category and time frame for which the securities have been in a continuous unrealized loss position:

	Less Than 12 Months				12 Months or More				Total
	Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses
	(dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities – Commercial	$	320,414	$	(6,398)	$	—	$	—	$	320,414	$	(6,398)
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities – Residential	658,965		(14,779)		—		—		658,965		(14,779)
Other Government-Sponsored Enterprises	22,261		(644)		—		—		22,261		(644)
Obligations of States and Political Subdivisions	11,213		(206)		—		—		11,213		(206)
Debt Securities Issued by Foreign Governments	997		(3)		—		—		997		(3)
Corporate Securities	19,013		(112)		—		—		19,013		(112)
Total Securities	$	1,032,863	$	(22,142)	$	—	$	—	$	1,032,863	$	(22,142)

At December 31, 2021, fixed income securities issued by U.S., Government Agencies and U.S. Government-sponsored enterprises comprised 99% of total unrealized losses. All unrealized losses are a result of changes in market interest rates. At December 31, 2021, there were 66 debt securities in an unrealized loss position, all of which were in an unrealized loss position of less than 12 months. There were no equity securities in an unrealized loss position at December 31, 2021.

The following table presents the gross unrealized losses and estimated fair value at December 31, 2020 for both available for sale and held to maturity securities by investment category and time frame for which the securities had been in a continuous unrealized loss position: 

	Less Than 12 Months				12 Months or More				Total
	Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses
	(dollars in thousands)
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities – Residential	$	3,755	$	(10)	$	—	$	—	$	3,755	$	(10)
Total Securities	$	3,755	$	(10)	$	—	$	—	$	3,755	$	(10)

As of December 31, 2021, our corporate securities had an amortized cost and estimated fair value of $32.1 million and $32.9 million, respectively, and were comprised of debt for large regional banks. At December 31, 2020, these securities had an amortized cost of $22.9 million and estimated fair value of $24.4 million. When unrealized losses exist, management reviews each of the issuer’s asset quality, earnings trend and capital position, to determine whether the unrealized loss position is a result of credit losses. All interest payments on the corporate securities are being made as contractually required.

There was no expected credit related impairment recognized on investment securities during the twelve months ended December 31, 2021 and 2020. Prior to 2020, investment securities were evaluated for other-than-temporary impairment.

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Loans and Allowance for Credit Losses

12 Months Ended

Dec. 31, 2021

Loans and Leases Receivable Disclosure [Abstract]

Loans and Allowance for Credit Losses

Loans and Allowance for Credit Losses

Loans are presented in the Consolidated Statements of Financial Condition net of deferred loan fees and costs, and discounts related to purchased loans. Net deferred costs were $0.8 million as of December 31, 2021 and net deferred fees were $6.0 million as of December 31, 2020 and discounts on purchased loans were $6.0 million and $7.0 million at December 31, 2021 and 2020, respectively. The following table provides outstanding balances related to each of our loan types as of December 31:

	2021		2020
	(dollars in thousands)
Commercial, financial, agricultural and other	$	1,173,452	$	1,555,986
Time and demand	1,159,524		1,541,382
Commercial credit cards	13,928		14,604
Real estate construction	494,456		427,221
Residential real estate	1,920,250		1,750,592
Residential first lien	1,299,534		1,144,323
Residential junior lien/home equity	620,716		606,269
Commercial real estate	2,251,097		2,211,569
Multifamily	385,432		371,239
Nonowner occupied	1,465,247		1,421,151
Owner occupied	400,418		419,179
Loans to individuals	999,975		815,815
Automobile	901,280		712,800
Consumer credit cards	11,151		12,360
Consumer other	87,544		90,655
Total loans	$	6,839,230	$	6,761,183

Commercial, financial, agricultural and other loans at December 31, 2021 and 2020 includes $71.3 million and $478.9 million, respectively, in PPP loans for small businesses who meet the necessary eligibility requirements. PPP loans are 100% guaranteed by the SBA under the CARES Act and are forgivable, in whole or in part, if the proceeds are used for payroll and other permitted purposes in accordance with the PPP requirements. Because PPP loans are fully guaranteed by the SBA, there is no allowance for credit losses recognized for these loans. Although the Company believes that the majority of these loans will ultimately be forgiven by the SBA in accordance with the terms of the program, there could be risks and liability to the Company associated with participation in the program.

First Commonwealth’s loan portfolio includes five primary loan categories. When calculating the allowance for credit losses these categories are classified into eleven portfolio segments. The composition of loans by portfolio segment includes;

Commercial, financial, agricultural and other

Time & Demand - Consists primarily of commercial and industrial loans. This category consists of loans that are typically cash flow dependent and therefore have different risk and loss characteristics than other commercial loans. Loans in this category include revolving and term structures with fixed and variable interest rates. The primary macroeconomic drivers for estimating credit losses for this category include forecasts of national unemployment and economic conditions measured by GDP.

Commercial Credit Cards - Consists of unsecured credit cards for commercial customers. These commercial credit cards have separate characteristics outside of normal commercial non-real estate loans, as they tend to have shorter overall duration. The primary macroeconomic drivers for estimating credit losses for this category include forecasts of national unemployment and economic conditions measured by GDP.

Real estate construction

Includes both 1-4 family and commercial construction loans. The risk and loss characteristics of the construction category are different than other real estate secured categories due to the collateral being at various stages of completion. The primary macroeconomic drivers for estimating credit losses for this category include forecasts of national unemployment and measures of completed construction projects.

Residential real estate

Residential first lien - Consists of loans with collateral of 1-4 family residencies with a senior lien position. The risk and loss characteristics are unique for this group because the collateral for these loans are the borrower’s primary residence. The primary macroeconomic drivers for estimating credit losses for this category include forecasts of national unemployment and residential property values.

Residential Junior Lien/Home Equity - Consists of loans with collateral of 1-4 family residencies with an open end line of credit or junior lien position. The junior lien position for the majority of these loans provides a higher risk of loss than other residential real estate loans. The primary macroeconomic drivers for estimating credit losses for this category include forecasts of national unemployment and residential property values.

Commercial real estate

Multifamily - Consists of loans secured by commercial multifamily properties. Real estate related to rentals to consumers could provide unique risk and loss characteristics. The primary macroeconomic drivers for estimating credit losses for this category include forecasts of commercial real estate values and rental vacancy.

Nonowner Occupied - Consists of loans secured by commercial real estate non-owner occupied and provides different loss characteristics than other real estate categories. The primary macroeconomic drivers for estimating credit losses for this category include forecasts of national unemployment and economic conditions measured by GDP.

Owner Occupied - Consists of loans secured by commercial real estate owner occupied properties. The risk and loss characteristics of this category were considered different than other real estate categories because it is owner occupied and would impact the ability to conduct business. The primary macroeconomic drivers for estimating credit losses for this category include forecasts of national unemployment and economic conditions measured by GDP.

Loans to individuals

Automobile - Consists of both direct and indirect loans with automobiles and recreational vehicles held as collateral. The primary macroeconomic drivers for estimating credit losses for this category include forecasts of consumer sentiment and automobile retention value.

Consumer Credit Cards – Consists of unsecured consumer credit cards The primary macroeconomic drivers for estimating credit losses for this category include forecasts of consumer sentiment and economic conditions measured by GDP.

Other Consumer - Consists of lines of credit, student loans and other consumer loans, not secured by real estate or autos. The primary macroeconomic drivers for estimating credit losses for this category include forecasts of consumer sentiment and the level of household debt.

The allowance for credit losses is calculated by pooling loans of similar credit risk characteristics and applying a discounted cash flow methodology after incorporating probability of default and loss given default estimates. Probability of default represents an estimate of the likelihood of default and loss given default measures the expected loss upon default. Inputs impacting the expected losses include a forecast of macroeconomic factors, using a weighted forecast from a nationally recognized firm. Our model incorporates a one-year forecast of macroeconomic factors, after which the factors revert back to the historical mean over a one-year period. The most significant macroeconomic factor used in estimating credit losses is the national unemployment rate. The forecasted value for national unemployment at December 31, 2021 was 4.34% and during the one-year forecast period it was projected to average 4.75%, with a peak of 4.91%.

Credit Quality Information

As part of the on-going monitoring of credit quality within the loan portfolio, the following credit worthiness categories are used in grading our commercial loans:

Pass	Acceptable levels of risk exist in the relationship. Includes all loans not classified as OAEM, substandard or doubtful.
Other Assets Especially Mentioned (OAEM)	Potential weaknesses that deserve management’s close attention. The potential weaknesses may result in deterioration of the repayment prospects or weaken the Bank’s credit position at some future date. The credit risk may be relatively minor, yet constitute an undesirable risk in light of the circumstances surrounding the specific credit. No loss of principal or interest is expected.
Substandard	Well-defined weakness or a weakness that jeopardizes the repayment of the debt. A loan may be classified as substandard as a result of deterioration of the borrower’s financial condition and repayment capacity. Loans for which repayment plans have not been met or collateral equity margins do not protect the Company may also be classified as substandard.
Doubtful	Loans with the characteristics of substandard loans with the added characteristic that collection or liquidation in full, on the basis of presently existing facts and conditions, is highly improbable.

The Company’s internal creditworthiness grading system provides a measurement of credit risk based primarily on an evaluation of the borrower’s cash flow and collateral. Category ratings are reviewed each quarter, at which time management analyzes the results, as well as other external statistics and factors related to loan performance.

The following tables represent our credit risk profile by creditworthiness category for the years ended December 31:

	2021
			Non-Pass
	Pass		OAEM		Substandard		Doubtful		Loss		Total Non-Pass		Total
	(dollars in thousands)
Commercial, financial, agricultural and other	$	1,121,234	$	33,765	$	18,453	$	—	$	—	$	52,218	$	1,173,452
Time and demand	1,107,306		33,765		18,453		—		—		52,218		1,159,524
Commercial credit cards	13,928		—		—		—		—		—		13,928
Real estate construction	493,913		498		45		—		—		543		494,456
Residential real estate	1,913,064		976		6,210		—		—		7,186		1,920,250
Residential first lien	1,295,524		905		3,105		—		—		4,010		1,299,534
Residential junior lien/home equity	617,540		71		3,105		—		—		3,176		620,716
Commercial real estate	2,113,123		85,324		52,650		—		—		137,974		2,251,097
Multifamily	355,702		14,565		15,165		—		—		29,730		385,432
Nonowner occupied	1,368,922		63,783		32,542		—		—		96,325		1,465,247
Owner occupied	388,499		6,976		4,943		—		—		11,919		400,418
Loans to individuals	999,770		—		205		—		—		205		999,975
Automobile	901,132		—		148		—		—		148		901,280
Consumer credit cards	11,151		—		—		—		—		—		11,151
Consumer other	87,487		—		57		—		—		57		87,544
Total	$	6,641,104	$	120,563	$	77,563	$	—	$	—	$	198,126	$	6,839,230

	2020
			Non-Pass
	Pass		OAEM		Substandard		Doubtful		Loss		Total Non-Pass		Total
	(dollars in thousands)
Commercial, financial, agricultural and other	$	1,491,916	$	48,233	$	15,837	$	—	$	—	$	64,070	$	1,555,986
Time and demand	1,477,312		48,233		15,837		—		—		64,070		1,541,382
Commercial credit cards	14,604		—		—		—		—		—		14,604
Real estate construction	426,663		504		54		—		—		558		427,221
Residential real estate	1,740,992		1,902		7,698		—		—		9,600		1,750,592
Residential first lien	1,138,409		1,780		4,134		—		—		5,914		1,144,323
Residential junior lien/home equity	602,583		122		3,564		—		—		3,686		606,269
Commercial real estate	1,983,258		175,995		52,316		—		—		228,311		2,211,569
Multifamily	369,883		131		1,225		—		—		1,356		371,239
Nonowner occupied	1,216,252		161,336		43,563		—		—		204,899		1,421,151
Owner occupied	397,123		14,528		7,528		—		—		22,056		419,179
Loans to individuals	815,541		—		274		—		—		274		815,815
Automobile	712,539		—		261		—		—		261		712,800
Consumer credit cards	12,360		—		—		—		—		—		12,360
Consumer other	90,642		—		13		—		—		13		90,655
Total	$	6,458,370	$	226,634	$	76,179	$	—	$	—	$	302,813	$	6,761,183

The following table summarizes the loan risk rating category by loan type including term loans on an amortized cost basis by origination year as of December 31:

	2021
	Term Loans												Revolving Loans
	2021		2020		2019		2018		2017		Prior				Total
	(dollars in thousands)
Time and demand	$	281,244	$	126,403	$	143,030	$	91,118	$	45,442	$	111,127	$	361,160	$	1,159,524
Pass	280,854		125,728		128,080		83,204		31,472		102,399		355,569		1,107,306
OAEM	390		596		1,125		7,780		13,945		7,126		2,803		33,765
Substandard	—		79		13,825		134		25		1,602		2,788		18,453
Commercial credit cards	—		—		—		—		—		—		13,928		13,928
Pass	—		—		—		—		—		—		13,928		13,928
Real estate construction	202,016		129,298		123,153		38,267		441		841		440		494,456
Pass	201,992		128,824		123,153		38,267		441		796		440		493,913
OAEM	24		474		—		—		—		—		—		498
Substandard	—		—		—		—		—		45		—		45
Residential first lien	376,106		375,904		126,788		84,484		74,268		260,010		1,974		1,299,534
Pass	376,095		375,885		126,618		84,079		74,135		256,815		1,897		1,295,524
OAEM	—		—		—		67		—		761		77		905
Substandard	11		19		170		338		133		2,434		—		3,105
Residential junior lien/home equity	56,861		1,999		3,322		2,684		1,009		5,348		549,493		620,716
Pass	56,861		1,999		3,246		2,684		1,009		5,195		546,546		617,540
OAEM	—		—		—		—		—		61		10		71
Substandard	—		—		76		—		—		92		2,937		3,105
Multifamily	90,062		73,068		16,782		36,523		63,872		103,774		1,351		385,432
Pass	90,062		73,068		16,782		21,846		49,832		102,761		1,351		355,702
OAEM	—		—		—		—		14,040		525		—		14,565
Substandard	—		—		—		14,677		—		488		—		15,165
Nonowner occupied	194,137		98,840		202,236		173,053		177,295		615,943		3,743		1,465,247
Pass	194,137		98,840		202,236		155,293		152,174		563,743		2,499		1,368,922
OAEM	—		—		—		3,723		19,235		39,737		1,088		63,783
Substandard	—		—		—		14,037		5,886		12,463		156		32,542
Owner occupied	77,710		62,380		53,954		34,115		32,989		134,713		4,557		400,418
Pass	77,710		59,973		51,513		33,623		31,644		129,593		4,443		388,499
OAEM	—		2,194		1,220		492		1,321		1,716		33		6,976
Substandard	—		213		1,221		—		24		3,404		81		4,943
Automobile	456,730		252,518		122,943		48,375		17,230		3,484		—		901,280
Pass	456,730		252,518		122,867		48,361		17,224		3,432		—		901,132
Substandard	—		—		76		14		6		52		—		148
Consumer credit cards	—		—		—		—		—		—		11,151		11,151
Pass	—		—		—		—		—		—		11,151		11,151
Consumer other	22,156		4,655		8,030		5,084		542		5,503		41,574		87,544
Pass	22,156		4,655		8,030		5,084		542		5,460		41,560		87,487
Substandard	—		—		—		—		—		43		14		57
Total	$	1,757,022	$	1,125,065	$	800,238	$	513,703	$	413,088	$	1,240,743	$	989,371	$	6,839,230

	2020
	Term Loans												Revolving Loans
	2020		2019		2018		2017		2016		Prior				Total
	(dollars in thousands)
Time and demand	$	598,053	$	193,601	$	142,224	$	72,277	$	74,228	$	83,313	$	377,686	$	1,541,382
Pass	597,405		189,834		140,473		63,137		68,007		65,418		353,038		1,477,312
OAEM	93		3,373		972		8,820		6,182		8,043		20,750		48,233
Substandard	555		394		779		320		39		9,852		3,898		15,837
Commercial credit cards	—		—		—		—		—		—		14,604		14,604
Pass	—		—		—		—		—		—		14,604		14,604
Real estate construction	150,493		133,195		104,167		34,803		389		1,009		3,165		427,221
Pass	150,493		133,195		104,167		34,803		389		709		2,907		426,663
OAEM	—		—		—		—		—		246		258		504
Substandard	—		—		—		—		—		54		—		54
Residential first lien	316,052		184,550		142,823		110,365		91,495		297,057		1,981		1,144,323
Pass	316,028		184,533		142,467		110,260		91,059		292,158		1,904		1,138,409
OAEM	—		—		83		—		100		1,520		77		1,780
Substandard	24		17		273		105		336		3,379		—		4,134
Residential junior lien/home equity	3,055		5,783		4,545		2,005		1,303		7,127		582,451		606,269
Pass	3,055		5,698		4,545		2,005		1,303		6,909		579,068		602,583
OAEM	—		—		—		—		—		112		10		122
Substandard	—		85		—		—		—		106		3,373		3,564
Multifamily	76,249		16,287		69,439		66,963		34,383		106,328		1,590		371,239
Pass	76,249		16,287		69,439		66,963		34,383		104,972		1,590		369,883
OAEM	—		—		—		—		—		131		—		131
Substandard	—		—		—		—		—		1,225		—		1,225
Nonowner occupied	105,861		199,280		161,018		214,915		217,883		518,052		4,142		1,421,151
Pass	105,861		190,301		139,643		181,659		175,148		419,900		3,740		1,216,252
OAEM	—		8,979		21,375		26,339		37,762		66,752		129		161,336
Substandard	—		—		—		6,917		4,973		31,400		273		43,563
Owner occupied	59,519		72,313		61,079		40,796		27,415		152,555		5,502		419,179
Pass	58,551		70,726		55,478		39,351		26,359		141,376		5,282		397,123
OAEM	968		684		4,736		1,421		114		6,572		33		14,528
Substandard	—		903		865		24		942		4,607		187		7,528
Automobile	350,293		202,923		96,355		45,218		14,285		3,726		—		712,800
Pass	350,293		202,827		96,336		45,187		14,255		3,641		—		712,539
Substandard	—		96		19		31		30		85		—		261
Consumer credit cards	—		—		—		—		—		—		12,360		12,360
Pass	—		—		—		—		—		—		12,360		12,360
Consumer other	7,814		14,464		10,752		1,965		711		6,383		48,566		90,655
Pass	7,814		14,464		10,752		1,965		711		6,373		48,563		90,642
Substandard	—		—		—		—		—		10		3		13
Total	$	1,667,389	$	1,022,396	$	792,402	$	589,307	$	462,092	$	1,175,550	$	1,052,047	$	6,761,183

Portfolio Risks

The credit quality of our loan portfolio can potentially represent significant risk to our earnings, capital and liquidity. First Commonwealth devotes a substantial amount of resources managing this risk primarily through our credit administration department that develops and administers policies and procedures for underwriting, maintaining, monitoring and collecting loans. Credit administration is independent of lending departments and oversight is provided by the credit committee of the First Commonwealth Board of Directors.

Total gross charge-offs for the years ended December 31, 2021 and 2020 were $13.1 million and $19.3 million, respectively.

Age Analysis of Past Due Loans by Segment

The following tables delineate the aging analysis of the recorded investments in past due loans as of December 31. Also included in these tables are loans that are 90 days or more past due and still accruing because they are well-secured and in the process of collection.

	2021
	30 - 59 days past due		60 - 89 days past due		90 days and greater and still accruing		Nonaccrual		Total past due and nonaccrual		Current		Total
	(dollars in thousands)
Commercial, financial, agricultural and other	$	633	$	987	$	155	$	2,006	$	3,781	$	1,169,671	$	1,173,452
Time and demand	605		972		144		2,006		3,727		1,155,797		1,159,524
Commercial credit cards	28		15		11		—		54		13,874		13,928
Real estate construction	813		—		448		45		1,306		493,150		494,456
Residential real estate	3,393		983		218		5,608		10,202		1,910,048		1,920,250
Residential first lien	1,934		354		51		2,706		5,045		1,294,489		1,299,534
Residential junior lien/home equity	1,459		629		167		2,902		5,157		615,559		620,716
Commercial real estate	—		74		—		40,195		40,269		2,210,828		2,251,097
Multifamily	—		—		—		15,097		15,097		370,335		385,432
Nonowner occupied	—		—		—		23,930		23,930		1,441,317		1,465,247
Owner occupied	—		74		—		1,168		1,242		399,176		400,418
Loans to individuals	1,611		417		785		206		3,019		996,956		999,975
Automobile	1,228		175		199		148		1,750		899,530		901,280
Consumer credit cards	36		44		63		—		143		11,008		11,151
Consumer other	347		198		523		58		1,126		86,418		87,544
Total	$	6,450	$	2,461	$	1,606	$	48,060	$	58,577	$	6,780,653	$	6,839,230

	2020
	30 - 59 days past due		60 - 89 days past due		90 days and greater and still accruing		Nonaccrual		Total past due and nonaccrual		Current		Total
	(dollars in thousands)
Commercial, financial, agricultural and other	$	146	$	62	$	112	$	3,317	$	3,637	$	1,552,349	$	1,555,986
Time and demand	97		28		23		3,317		3,465		1,537,917		1,541,382
Commercial credit cards	49		34		89		—		172		14,432		14,604
Real estate construction	936		—		—		54		990		426,231		427,221
Residential real estate	3,883		1,492		769		6,824		12,968		1,737,624		1,750,592
Residential first lien	1,775		660		267		3,489		6,191		1,138,132		1,144,323
Residential junior lien/home equity	2,108		832		502		3,335		6,777		599,492		606,269
Commercial real estate	237		160		3		35,072		35,472		2,176,097		2,211,569
Multifamily	—		—		—		460		460		370,779		371,239
Nonowner occupied	18		104		—		31,822		31,944		1,389,207		1,421,151
Owner occupied	219		56		3		2,790		3,068		416,111		419,179
Loans to individuals	2,870		852		639		274		4,635		811,180		815,815
Automobile	2,090		417		94		261		2,862		709,938		712,800
Consumer credit cards	52		39		123		—		214		12,146		12,360
Consumer other	728		396		422		13		1,559		89,096		90,655
Total	$	8,072	$	2,566	$	1,523	$	45,541	$	57,702	$	6,703,481	$	6,761,183

Nonaccrual Loans

The previous tables summarize nonaccrual loans by loan segment. The Company generally places loans on nonaccrual status when the full and timely collection of interest or principal becomes uncertain, when part of the principal balance has been charged off and no restructuring has occurred, or the loans reach a certain number of days past due. Generally, loans 90 days or more past due are placed on nonaccrual status, except for consumer loans which are placed in nonaccrual status at 150 days past due.

When a loan is placed on nonaccrual, the accrued unpaid interest receivable is reversed against interest income and all future payments received are applied as a reduction to the loan principal. Generally, the loan is returned to accrual status when (a) all delinquent interest and principal become current under the terms of the loan agreement or (b) the loan is both well-secured and in the process of collection and collectability is no longer in doubt.

Nonperforming Loans

Management considers loans to be nonperforming when, based on current information and events, it is determined that the Company will not be able to collect all amounts due according to the loan contract, including scheduled interest payments. Nonperforming loans includes nonaccrual loans and all troubled debt restructured loans. When management identifies a loan as nonperforming, the credit loss is measured based on the present value of expected future cash flows, discounted at the loan’s effective interest rate, except when the sole source or repayment for the loan is the operation or liquidation of collateral. When the loan is collateral dependent, the appraised value less estimated cost to sell is utilized. If management determines the value of the loan is less than the recorded investment in the loan, a credit loss is recognized through an allowance or a charge-off to the allowance for credit losses.

When the ultimate collectability of the total principal of a nonperforming loan is in doubt and the loan is on nonaccrual status, all payments are applied to principal, under the cost recovery method. When the ultimate collectability of the total principal of a nonperforming loan is not in doubt and the loan is on nonaccrual status, contractual interest is credited to interest income when received under the cash basis method.

There were no nonperforming loan held for sale at December 31, 2021 and one nonperforming loan totaling $13 thousand held for sale as of December 31, 2020. Total gains of $0.4 million on nonperforming loans held for sale during both of the years

ended December 31, 2021 and 2019. There were no gains on sale of nonperforming loans recognized during the year ended December 31, 2020.

The following tables include the recorded investment and unpaid principal balance for nonperforming loans with the associated allowance amount, if applicable, as of December 31, 2021 and 2020. Also presented are the average recorded investment in nonperforming loans and the related amount of interest recognized while the loan was considered nonperforming for the years ended December 31, 2021, 2020 and 2019. Average balances are calculated based on month-end balances of the loans for the period reported and are included in the table below based on its period end allowance position.

	2021
	Recorded investment		Unpaid principal balance		Related specific allowance		Average recorded investment		Interest Income Recognized
	(dollars in thousands)
With no related specific allowance recorded:
Commercial, financial, agricultural and other	$	3,720	$	10,303			$	9,240	$	389
Time and demand	3,720		10,303				9,240		389
Real estate construction	45		53				53		—
Residential real estate	9,365		11,294				10,315		375
Residential first lien	5,200		6,337				5,674		279
Residential junior lien/home equity	4,165		4,957				4,641		96
Commercial real estate	40,591		41,525				26,235		119
Multifamily	14,677		14,677				1,223		—
Nonowner occupied	24,581		25,310				22,668		28
Owner occupied	1,333		1,538				2,344		91
Loans to individuals	446		485				479		15
Automobile	388		422				425		15
Consumer other	58		63				54		—
Subtotal	54,167		63,660				46,322		898
With a specific allowance recorded:
Commercial, financial, agricultural and other	327		349		307		84		—
Time and demand	327		349		307		84		—
Real estate construction	—		—		—		—		—
Residential real estate	—		—		—		—		—
Residential first lien	—		—		—		—		—
Residential junior lien/home equity	—		—		—		—		—
Commercial real estate	686		711		88		665		—
Multifamily	421		446		88		444		—
Nonowner occupied	—		—		—		—		—
Owner occupied	265		265		—		221		—
Loans to individuals	—		—		—		—		—
Automobile	—		—		—		—		—
Consumer other	—		—		—		—		—
Subtotal	1,013		1,060		395		749		—
Total	$	55,180	$	64,720	$	395	$	47,071	$	898

	2020
	Recorded investment		Unpaid principal balance		Related specific allowance		Average recorded investment		Interest Income Recognized
	(dollars in thousands)
With no related specific allowance recorded:
Commercial, financial, agricultural and other	$	2,025	$	2,725			$	6,371	$	80
Time and demand	2,025		2,725				6,371		80
Real estate construction	54		53				146		14
Residential real estate	10,939		13,258				11,913		335
Residential first lien	6,062		7,575				6,605		241
Residential junior lien/home equity	4,877		5,683				5,308		94
Commercial real estate	20,650		23,641				22,287		184
Multifamily	1		82				1		—
Nonowner occupied	16,786		19,459				18,536		82
Owner occupied	3,863		4,100				3,750		102
Loans to individuals	418		447				470		13
Automobile	405		430				447		13
Consumer other	13		17				23		—
Subtotal	34,086		40,124				41,187		626
With a specific allowance recorded:
Commercial, financial, agricultural and other	4,210		9,377		1,268		1,544		3
Time and demand	4,210		9,377		1,268		1,544		3
Real estate construction	—		—		—		—		—
Residential real estate	—		—		—		—		—
Residential first lien	—		—		—		—		—
Residential junior lien/home equity	—		—		—		—		—
Commercial real estate	15,757		15,830		3,638		7,997		10
Multifamily	459		470		116		395		—
Nonowner occupied	15,060		15,122		3,508		7,363		—
Owner occupied	238		238		14		239		10
Loans to individuals	—		—		—		—		—
Automobile	—		—		—		—		—
Consumer other	—		—		—		—		—
Subtotal	19,967		25,207		4,906		9,541		13
Total	$	54,053	$	65,331	$	4,906	$	50,728	$	639

	2019
	Originated				Acquired
	Average recorded investment		Interest Income Recognized		Average recorded investment		Interest Income Recognized
	(dollars in thousands)
With no related specific allowance recorded:
Commercial, financial, agricultural and other	$	2,411	$	66	$	2,479	$	—
Real estate construction	—		—		—		—
Residential real estate	10,819		365		1,986		8
Commercial real estate	7,455		156		747		18
Loans to individuals	371		17		13		—
Subtotal	21,056		604		5,225		26
With a specific allowance recorded:
Commercial, financial, agricultural and other	4,110		77		—		—
Real estate construction	—		—		—		—
Residential real estate	241		—		—		—
Commercial real estate	1,747		3		—		—
Loans to individuals	—		—		—		—
Subtotal	6,098		80		—		—
Total	$	27,154	$	684	$	5,225	$	26

Unfunded commitments related to nonperforming loans were $0.2 million at both December 31, 2021 and 2020. After considering the collateral related to these commitments, there was no reserve established as of December 31, 2021. A reserve of $26 thousand was held for these off balance sheet exposures at December 31, 2020.

Troubled debt restructured loans are those loans whose terms have been renegotiated to provide a reduction or deferral of principal or interest as a result of the financial difficulties experienced by the borrower, who could not obtain comparable terms from alternate financing sources. Troubled debt restructured loans are considered to be nonperforming loans.

In March 2020, the Company began offering short-term loan modifications to assist borrowers during the COVID-19 national emergency. These modifications typically provide for the deferral of both principal and interest for 90 days. The CARES Act, along with a joint agency statement issued by banking regulators, provides that short-term modifications, meeting certain criteria and in response to COVID-19, do not need to be accounted for as a troubled debt restructured loans. Additionally, short-term loan modifications that are not accounted for as a troubled debt restructured loan, in accordance with the CARES Act, would remain classified as current during the deferral period and therefore are not reflected in the past due loan tables provided on the prior page. As of December 31, 2021, loans with an aggregate balance $6.2 million were in a forbearance period granted under the CARES Act.

The following table provides detail as to the total troubled debt restructured loans and total commitments outstanding on troubled debt restructured loans as of December 31:

	2021		2020		2019
	(dollars in thousands)
Troubled debt restructured loans
Accrual status	$	7,120	$	8,512	$	7,542
Nonaccrual status	13,134		14,740		6,037
Total	$	20,254	$	23,252	$	13,579
Commitments
Letters of credit	$	60	$	60	$	60
Unused lines of credit	16		11		163
Total	$	76	$	71	$	223

The following tables provide detail, including specific reserve and reasons for modification, related to loans identified as troubled debt restructurings during the years ending December 31:

	2021
		Type of Modification
	Number of Contracts	Extend Maturity		Modify Rate		Modify Payments		Total Pre-Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Specific Reserve
	(dollars in thousands)
Commercial, financial, agricultural and other	6	$	—	$	—	$	7,893	$	7,893	$	288	$	—
Time and demand	6	—		—		7,893		7,893		288		—
Residential real estate	15	—		359		301		660		624		—
Residential first lien	12	—		359		171		530		502		—
Residential junior lien/home equity	3	—		—		130		130		122		—
Commercial real estate	2	—		—		644		644		634		—
Nonowner occupied	2	—		—		644		644		634		—
Owner occupied	—	—		—		—		—		—		—
Loans to individuals	7	—		110		63		173		144		—
Automobile	7	$	—	$	110	$	63	173		$	144	$	—
Total	30	$	—	$	469	$	8,901	$	9,370	$	1,690	$	—

	2020
		Type of Modification
	Number of Contracts	Extend Maturity		Modify Rate		Modify Payments		Total Pre-Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Specific Reserve
	(dollars in thousands)
Commercial, financial, agricultural and other	4	$	—	$	629	$	2,176	$	2,805	$	2,196	$	636
Time and demand	4	—		629		2,176		2,805		2,196		636
Residential real estate	18	—		33		917		950		791		—
Residential first lien	9	—		33		513		546		411		—
Residential junior lien/home equity	9	—		—		404		404		380		—
Commercial real estate	5	—		—		10,857		10,857		10,758		—
Nonowner occupied	4	—		—		10,289		10,289		10,263		—
Owner occupied	1	—		—		568		568		495		—
Loans to individuals	14	—		114		148		262		224		—
Automobile	14	$	—	$	114	$	148	$	262	224		$	—
Total	41	$	—	$	776	$	14,098	$	14,874	$	13,969	$	636

	2019
		Type of Modification
	Number of Contracts	Extend Maturity		Modify Rate		Modify Payments		Total Pre-Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Specific Reserve
	(dollars in thousands)
Commercial, financial, agricultural and other	2	$	—	$	—	$	156	$	156	$	154	$	—
Residential real estate	20	17		204		965		1,186		1,059		—
Commercial real estate	5	—		556		6,261		6,817		594		—
Loans to individuals	11	—		—		143		143		121		—
Total	38	$	17	$	760	$	7,525	$	8,302	$	1,928	$	—

The troubled debt restructurings included in the above tables are also included in the nonperforming loan tables provided earlier in this footnote. Loans defined as modified due to a change in rate include loans that were modified for a change in rate as well as a re-amortization of the principal and an extension of the maturity. For the years ended December 31, 2021, 2020 and 2019, $0.4 million, $0.8 million and $0.8 million, respectively, of total rate modifications represent loans with modifications to the rate as well as payment due to re-amortization. In 2021 and 2019, the change between the pre-modification and post-modification balance for commercial real estate loans is primarily due to the payoff of one large commercial relationship that restructured during the year. For 2020, the changes in loan balances between the pre-modification balance and post-modification balance are due to customer payments.

A troubled debt restructuring is considered to be in default when a restructured loan is 90 days or more past due. The following table provides information related to loans that were restructured within the past twelve months and that were considered to be in default during the year ending December 31:

	2021			2020			2019
	Number of Contracts	Recorded Investment		Number of Contracts	Recorded Investment		Number of Contracts	Recorded Investment
	(dollars in thousands)
Commercial, financial, agricultural and other	1	$	223	—	$	—	—	$	—
Time and demand	1	223		—	—
Residential real estate	—	$	—	1	34		—	—
Residential junior lien/home equity	—	—		1	34
Loans to individuals	1	21		2	74		—	—
Automobile	1	21		2	74
Total	2	$	244	3	$	108	—	$	—

The following tables provide detail related to the allowance for credit losses for the years ended December 31.

	2021
	Beginning balance		Charge-offs		Recoveries		Provision (credit)a		Ending balance
	(dollars in thousands)
Commercial, financial, agricultural and other	$	17,187	$	(7,020)	$	2,430	$	5,496	$	18,093
Time and demand	16,838		(6,845)		2,412		5,441		17,846
Commercial credit cards	349		(175)		18		55		247
Real estate construction	7,966		(9)		155		(3,892)		4,220
Residential real estate	14,358		(309)		468		(1,892)		12,625
Residential first liens	7,919		(60)		337		(737)		7,459
Residential junior liens/home equity	6,439		(249)		131		(1,155)		5,166
Commercial real estate	41,953		(1,659)		135		(7,053)		33,376
Multifamily	6,240		(1)		—		(2,678)		3,561
Nownowner occupied	28,414		(1,556)		125		(2,145)		24,838
Owner occupied	7,299		(102)		10		(2,230)		4,977
Loans to individuals	19,845		(4,061)		1,460		6,964		24,208
Automobile	16,133		(1,792)		1,016		6,035		21,392
Consumer credit cards	635		(425)		71		215		496
Consumer other	3,077		(1,844)		373		714		2,320
Total	$	101,309	$	(13,058)	$	4,648	$	(377)	$	92,522

a) The provision (credit) shown here excludes the provision for off-balance sheet credit exposure included in the income statement.

	December 31, 2021
							Loans
	Ending balance		Ending balance: individually evaluated for credit losses		Ending balance: collectively evaluated for credit losses		Ending balance		Ending balance: individually evaluated for credit losses		Ending balance: collectively evaluated for credit losses
	(dollars in thousands)
Commercial, financial, agricultural and other	$	18,093	$	307	$	17,786	$	1,173,452	$	3,032	$	1,170,420
Time and demand	17,846		307		17,539		1,159,524		3,032		1,156,492
Commercial credit cards	247		—		247		13,928		—		13,928
Real estate construction	4,220		—		4,220		494,456		—		494,456
Residential real estate	12,625		—		12,625		1,920,250		253		1,919,997
Residential first liens	7,459		—		7,459		1,299,534		—		1,299,534
Residential junior liens/home equity	5,166		—		5,166		620,716		253		620,463
Commercial real estate	33,376		88		33,288		2,251,097		40,246		2,210,851
Multifamily	3,561		88		3,473		385,432		15,097		370,335
Nownowner occupied	24,838		—		24,838		1,465,247		24,205		1,441,042
Owner occupied	4,977		—		4,977		400,418		944		399,474
Loans to individuals	24,208		—		24,208		999,975		—		999,975
Automobile	21,392		—		21,392		901,280		—		901,280
Consumer credit cards	496		—		496		11,151		—		11,151
Consumer other	2,320		—		2,320		87,544		—		87,544
Total	$	92,522	$	395	$	92,127	$	6,839,230	$	43,531	$	6,795,699

	2020
	Beginning balance		Impact of adoption of CECL		Charge-offs		Recoveries		Provision (credit)a		Ending balance
	(dollars in thousands)
Commercial, financial, agricultural and other	$	20,234	$	1,478	$	(6,318)	$	314	$	1,479	$	17,187
Time and demand	—		21,242		(6,220)		301		1,515		16,838
Commercial credit cards	—		470		(98)		13		(36)		349
Real estate construction	2,558		562		—		26		4,820		7,966
Residential real estate	4,093		7,276		(1,040)		414		3,615		14,358
Residential first liens	—		7,326		(550)		296		847		7,919
Residential junior liens/home equity	—		4,043		(490)		118		2,768		6,439
Commercial real estate	19,768		(207)		(4,939)		312		27,019		41,953
Multifamily	—		1,647		—		—		4,593		6,240
Nownowner occupied	—		12,317		(4,678)		187		20,588		28,414
Owner occupied	—		5,597		(261)		125		1,838		7,299
Loans to individuals	4,984		4,284		(6,953)		991		16,539		19,845
Automobile	—		6,106		(3,954)		745		13,236		16,133
Consumer credit cards	—		221		(595)		36		973		635
Consumer other	—		2,941		(2,404)		210		2,330		3,077
Total	$	51,637	$	13,393	$	(19,250)	$	2,057	$	53,472	$	101,309

a) The provision (credit) shown here excludes the provision for off-balance sheet credit exposure included in the income statement.

	December 31, 2020
							Loans
	Ending balance		Ending balance: individually evaluated for credit losses		Ending balance: collectively evaluated for credit losses		Ending balance		Ending balance: individually evaluated for credit losses		Ending balance: collectively evaluated for credit losses
	(dollars in thousands)
Commercial, financial, agricultural and other	$	17,187	$	1,268	$	15,919	$	1,555,986	$	5,411	$	1,550,575
Time and demand	16,838		1,268		15,570		1,541,382		5,411		1,535,971
Commercial credit cards	349		—		349		14,604		—		14,604
Real estate construction	7,966		—		7,966		427,221		—		427,221
Residential real estate	14,358		—		14,358		1,750,592		1,105		1,749,487
Residential first liens	7,919		—		7,919		1,144,323		528		1,143,795
Residential junior liens/home equity	6,439		—		6,439		606,269		577		605,692
Commercial real estate	41,953		3,638		38,315		2,211,569		34,947		2,176,622
Multifamily	6,240		116		6,124		371,239		459		370,780
Nownowner occupied	28,414		3,508		24,906		1,421,151		31,450		1,389,701
Owner occupied	7,299		14		7,285		419,179		3,038		416,141
Loans to individuals	19,845		—		19,845		815,815		—		815,815
Automobile	16,133		—		16,133		712,800		—		712,800
Consumer credit cards	635		—		635		12,360		—		12,360
Consumer other	3,077		—		3,077		90,655		—		90,655
Total	$	101,309	$	4,906	$	96,403	$	6,761,183	$	41,463	$	6,719,720

	2019
	Commercial, financial, agricultural and other		Real estate construction		Residential real estate		Commercial real estate		Loans to individuals		Total
	(dollars in thousands)
Allowance for credit losses:
Originated Loans:
Beginning balance	$	19,235	$	2,002	$	3,934	$	18,382	$	4,033	$	47,586
Charge-offs	(2,667)		—		(986)		(632)		(5,747)		(10,032)
Recoveries	245		158		246		189		611		1,449
Provision (credit)	3,408		398		897		1,792		6,087		12,582
Ending balance	20,221		2,558		4,091		19,731		4,984		51,585
Acquired Loans:
Beginning balance	139		—		35		4		—		178
Charge-offs	(726)		—		(56)		(1,376)		(84)		(2,242)
Recoveries	81		—		69		—		15		165
Provision (credit)	519		—		(46)		1,409		69		1,951
Ending balance	13		—		2		37		—		52
Total ending balance	$	20,234	$	2,558	$	4,093	$	19,768	$	4,984	$	51,637
Ending balance: individually evaluated for impairment	$	1,580	$	—	$	1	$	851	$	—	$	2,432
Ending balance: collectively evaluated for impairment	18,654		2,558		4,092		18,917		4,984		49,205
Loans:
Ending balance	1,241,853		449,039		1,681,362		2,117,519		699,375		6,189,148
Ending balance: individually evaluated for impairment	9,246		—		1,741		6,846		—		17,833
Ending balance: collectively evaluated for impairment	1,232,607		449,039		1,679,621		2,110,673		699,375		6,171,315

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Commitments and Letters of Credit

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Letters of Credit

Commitments and Letters of Credit

First Commonwealth is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financial needs of its customers. These financial instruments include commitments to extend credit, standby letters of credit and commercial letters of credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the Consolidated Statements of Financial Condition. First Commonwealth’s exposure to credit loss in the event of nonperformance by the other party of the financial instrument for commitments to extend credit, standby letters of credit and commercial letters of credit is represented by the contract or notional amount of those instruments. First Commonwealth uses the same credit policies for underwriting all loans, including these commitments and conditional obligations.

As of December 31, 2021 and 2020, First Commonwealth did not own or trade other financial instruments with significant off-balance sheet risk including derivatives such as futures, forwards, option contracts and the like, although such instruments may be appropriate to use in the future to manage interest rate risk. See Note 6, “Derivatives,” for a description of interest rate derivatives entered into by First Commonwealth.

Standby letters of credit and commercial letters of credit are conditional commitments issued by First Commonwealth to guarantee the performance of a customer to a third party. The contract or notional amount of these instruments reflects the maximum amount of future payments that First Commonwealth could be required to pay under the guarantees if there were a total default by the guaranteed parties, without consideration for possible recoveries under recourse provisions or from collateral held or pledged. In addition, many of these commitments are expected to expire without being drawn upon; therefore, the total commitment amounts do not necessarily represent future cash requirements.

The following table identifies the notional amount of those instruments at December 31:

	2021		2020
	(dollars in thousands)
Financial instruments whose contract amounts represent credit risk:
Commitments to extend credit	$	2,353,991	$	2,097,628
Financial standby letters of credit	18,824		15,988
Performance standby letters of credit	10,663		16,864
Commercial letters of credit	975		783

Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. First Commonwealth evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by First Commonwealth upon extension of credit, is based on management’s credit evaluation of the counterparty. Collateral that is held varies but may include accounts receivable, inventory, property, plant and equipment, and residential and income-producing commercial properties.

The notional amounts outstanding at December 31, 2021 include amounts issued in 2021 of $0.3 million in financial standby letters of credit and $2.7 million in performance standby letters of credit. There were no commercial letters of credit issued during 2021. A liability of $0.1 million has been recorded as of December 31, 2021 and 2020, which represents the estimated fair value of letters of credit issued. The fair value of letters of credit is estimated based on the unrecognized portion of fees received at the time the commitment was issued.

Unused commitments and letters of credit provide exposure to future credit loss in the event of nonperformance by the borrower or guaranteed parties. Management’s evaluation of the credit risk in these commitments resulted in the recording of a liability of $6.4 million and $7.4 million as of December 31, 2021 and 2020, respectively. This liability is reflected in “Other liabilities” in the Consolidated Statements of Financial Condition. The credit risk evaluation incorporates the expected loss percentage calculated for comparable loan categories as part of the allowance for credit losses for loans.

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Premises and Equipment

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Premises and Equipment

Premises, Equipment and Lease Commitments

Premises and Equipment

Premises and equipment are described as follows:

	Estimated Useful Life	2021		2020
	(dollars in thousands)
Land	Indefinite	$	14,621	$	15,441
Buildings and improvements	10-50 years	75,149		77,003
Operating lease right of use asset	1-25 years	47,938		48,642
Leasehold improvements	5-40 years	35,909		35,347
Furniture and equipment	3-7 years	73,976		73,150
Software	3-7 years	43,511		41,681
Subtotal		291,104		291,264
Less accumulated depreciation and amortization		170,329		165,747
Total premises and equipment, net		$	120,775	$	125,517

Depreciation related to premises and equipment included in noninterest expense for the years ended December 31, 2021, 2020 and 2019 amounted to $9.9 million, $10.9 million and $10.5 million, respectively. Amortization of lease right-of-use assets totaled $1.4 million in 2021 and $2.6 million in 2020.

At December 31, 2021 and December 31, 2020, $1.9 million and $2.6 million, respectively, in premise and equipment assets were considered available for sale as a result of the 2020 branch consolidation initiative.

Lease Commitments

First Commonwealth has elected to apply certain practical expedients under ASU 2016-02 "Leases" (Topic 842), including (i) to not apply the requirements in the new standard to short-term leases (ii) to not reassess the lease classification for any expired or existing lease (iii) to account for lease and non-lease components separately (iv) to not reassess initial direct costs for any existing leases. The impact of this standard primarily relates to operating leases of certain real estate properties, primarily certain branch and ATM locations and office space. First Commonwealth has no material leasing arrangements for which it is the lessor of property or equipment.

The following table represents the lease costs and other lease information for the years ended December 31.

	2021			2020
	(dollars in thousands)
Balance sheet:
Operating lease asset classified as premises and equipment	$	40,550		$	42,617
Operating lease liability classified as other liabilities	44,801			46,819
Income statement:
Operating lease cost classified as occupancy and equipment expense	$	4,806		$	5,930
Weighted average lease term, in years	14.11			14.83
Weighted average discount rate	3.24		%	3.42		%
Operating cash flows	$	4,753		$	5,979

The ROU assets and lease liabilities are impacted by the length of the lease term and the discount rate used to present value the minimum lease payments. First Commonwealth's lease agreements often include one or more options to renew at the Company's discretion. If we consider the renewal option to be reasonably certain, we include the extended term in the calculation of the ROU asset and lease liability.

First Commonwealth uses incremental borrowing rates when calculating the lease liability because the rate implicit in the lease is not readily determinable. The incremental borrowing rate used by First Commonwealth is an amortizing loan rate obtained from the Federal Home Loan Bank ("FHLB") of Pittsburgh. This rate is consistent with a collateralized borrowing rate and is available for terms similar to the lease payment schedules.

The following table reconciles future minimum lease payments due under non-cancelable operating leases (those amounts subject to recognition) to the lease liability as of December 31, 2021 (dollars in thousands):

For the twelve months ended December 31,
2022	$	4,667
2023	4,622
2024	4,481
2025	4,261
2026	3,844
Thereafter	35,207
Total future minimum lease payments	57,082
Less remaining imputed interest	12,281
Operating lease liability	$	44,801

Rent expense, net of rental income, for all operating leases totaled $4.5 million in 2021, $6.7 million in 2020 and $4.9 million in 2019. Rent expense includes amounts related to items that are not included in the determination of lease right-of-use assets including expenses related to short-term leases and non-lease components such as taxes, insurance, and common area maintenance costs.

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Goodwill and Other Amortizing Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill Disclosure [Abstract]

Goodwill and Other Amortizing Intangible Assets

Goodwill and Other Intangible AssetsFASB ASC Topic 350-20, “Intangibles—Goodwill and Other" ("Topic 350"), requires an annual valuation of the fair value of a reporting unit that has goodwill and a comparison of the fair value to the book value of equity to determine whether the

goodwill has been impaired. Goodwill is also required to be tested on an interim basis if an event or circumstance indicates that it is more likely than not that an impairment loss has been incurred. When circumstances indicate that it is more likely than not that fair value is less than carrying value, a triggering event has occurred and a quantitative impairment test would be performed.

We consider First Commonwealth to be one reporting unit. The carrying amount of goodwill as of December 31, 2021 and 2020 was $303.3 million. No impairment charges on goodwill or other intangible assets were incurred in 2021, 2020 or 2019.

We test goodwill for impairment as of November 30th each year and again at any quarter-end if any material events occur during a quarter that may affect goodwill.

As of December 31, 2021, goodwill was not considered impaired; however, changing economic conditions that may adversely affect our performance, the fair value of our assets and liabilities, or our stock price could result in impairment, which could adversely affect earnings in future periods. Management will continue to monitor events that could impact this conclusion in the future.

Topic 350 also requires that an acquired intangible asset be separately recognized if the benefit of the intangible asset is obtained through contractual or other legal rights, or if the asset can be sold, transferred, licensed, rented or exchanged, regardless of the acquirer’s intent to do so.

The following table summarizes other intangible assets:

	Gross Intangible Assets		Accumulated Amortization		Net Intangible Assets
	(dollars in thousands)
December 31, 2021
Customer deposit intangibles	$	22,573	$	(14,407)	$	8,166
Customer list intangible	2,283		(1,762)		521
Total other intangible assets	$	24,856	$	(16,169)	$	8,687
December 31, 2020
Customer deposit intangibles	$	22,573	$	(11,653)	$	10,920
Customer list intangible	2,283		(1,570)		713
Total other intangible assets	$	24,856	$	(13,223)	$	11,633

Core deposits are amortized over their expected lives using the present value of the benefit of the core deposits and straight-line methods of amortization. The core deposits have a remaining amortization period of 7.7 years and a weighted average amortization period of approximately 6.2 years. The customer list intangible represents the estimated value of the customer base for an insurance agency acquired in 2014 and the wealth management business acquired as part of the DCB acquisition in 2017. These amounts are amortized over their expected lives using expected cash flows based on retention of the customer base. The customer list intangible has a remaining amortization period of 7.7 years and a weighted average amortization period of 5.9 years. First Commonwealth recognized amortization expense on other intangible assets of $2.9 million, $3.4 million, and $3.2 million for the years ended December 31, 2021, 2020 and 2019, respectively.

In addition to customer deposit intangibles and customer list intangibles, First Commonwealth has servicing rights on mortgage loans as well as certain commercial loans totaling $2.5 million and $1.9 million as of December 31, 2021 and 2020, respectively. These servicing rights relate to loans sold to third parties on which the Company retains servicing responsibilities. The Company recognized amortization expense on these servicing assets of $0.6 million and $0.3 million for the years ended December 31, 2021 and 2020, respectively.

The following presents the estimated amortization expense of core deposit and customer list intangibles:

	Core Deposit Intangibles		Customer List Intangible		Total
	(dollars in thousands)
2022	$	2,343	$	159	$	2,502
2023	1,932		128		2,060
2024	1,522		97		1,619
2025	1,112		69		1,181
2026	702		42		744
Thereafter	555		26		581
Total	$	8,166	$	521	$	8,687

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Interest-Bearing Deposits

12 Months Ended

Dec. 31, 2021

Deposits [Abstract]

Interest-Bearing Deposits

Interest-Bearing Deposits

Components of interest-bearing deposits at December 31 were as follows:

	2021		2020
	(dollars in thousands)
Interest-bearing demand deposits	$	291,476	$	250,353
Savings deposits	4,647,197		4,305,391
Time deposits	385,043		562,964
Total interest-bearing deposits	$	5,323,716	$	5,118,708

Interest-bearing deposits at both December 31, 2021 and 2020 include allocations from interest-bearing demand deposit accounts of $1.2 billion into savings, which includes money market accounts. These allocations are based on a formula and were made to reduce First Commonwealth’s reserve requirement in compliance with regulatory guidelines. Deposits totaling $0.6 million and $0.7 million at December 31, 2021 and 2020, respectively, were reclassified from deposits to loans due to their overdrawn status.

Included in time deposits at December 31, 2021 and 2020 were certificates of deposit in denominations of $250 thousand or more of $51.7 million and $93.1 million, respectively.

Interest expense related to certificates of deposit in denominations of $250 thousand or greater amounted to $0.4 million in 2021, $2.0 million in 2020 and $3.3 million in 2019.

Included in time deposits at December 31, 2021, were certificates of deposit with the following scheduled maturities (dollars in thousands):

2022	$	276,014
2023	50,607
2024	25,370
2025	12,814
2026 and thereafter	20,238
Total	$	385,043

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Short-term Borrowings

12 Months Ended

Dec. 31, 2021

Short-term Debt [Abstract]

Short-term Borrowings

Short-term Borrowings

Short-term borrowings at December 31 were as follows:

	2021						2020						2019
	Ending Balance		Average Balance		Average Rate		Ending Balance		Average Balance		Average Rate		Ending Balance		Average Balance		Average Rate
	(dollars in thousands)
Federal funds purchased	$	—	$	—	—	%	$	—	$	4,147	1.06	%	$	—	$	8,069	2.53	%
Borrowings from FHLB	—		—		—		—		28,252		1.54		136,200		278,930		2.62
Securities sold under agreements to repurchase	138,315		119,801		0.08		117,373		110,235		0.21		65,653		104,548		0.75
Total	$	138,315	$	119,801	0.08		$	117,373	$	142,634	0.49		$	201,853	$	391,547	2.12
Maximum total at any month-end	$	138,315					$	248,471					$	670,831
Weighted average rate at year-end					0.06	%					0.10	%					1.41	%

Interest expense on short-term borrowings for the years ended December 31 is detailed below:

	2021		2020		2019
	(dollars in thousands)
Federal funds purchased	$	—	$	44	$	204
Borrowings from FHLB	—		434		7,313
Securities sold under agreements to repurchase	99		226		781
Total interest on short-term borrowings	$	99	$	704	$	8,298

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Subordinated Debentures

12 Months Ended

Dec. 31, 2021

Disclosure Subordinated Debentures [Abstract]

Subordinated Debentures

Subordinated Debentures

Subordinated debentures outstanding at December 31 are as follows:

			2021		2020
	Due	Rate	Amount		Amount
			(dollars in thousands)
Owed to:
First Commonwealth Bank	06/01/2028	4.875% until June 1, 2023, then 3-Month LIBOR + 1.845%	$	49,407	$	49,314
First Commonwealth Bank	06/01/2033	5.50% until June 1, 2028, then 3-Month LIBOR +2.37%	49,201		49,131
First Commonwealth Capital Trust II	01/23/2034	3-Month LIBOR + 2.85%	30,929		30,929
First Commonwealth Capital Trust III	04/06/2034	3-Month LIBOR + 2.85%	41,238		41,238
Total			$	170,775	$	170,612

On May 21, 2018, First Commonwealth Bank issued ten-year subordinated notes with an aggregate principal amount of $50.0 million and a fixed-to-floating rate of 4.875%. The rate remains fixed until June 1, 2023, then adjusts on a quarterly basis to three-month LIBOR + 1.845%. The Bank may redeem the notes, beginning with the interest payment due on June 1, 2023, in whole or in part at a redemption price equal to 100% of the principal amount of the subordinated notes, plus accrued and unpaid interest to the date of redemption. Deferred issuance costs of $0.9 million are being amortized on a straight-line basis over the term of the notes.

On May 21, 2018, First Commonwealth Bank also issued fifteen-year subordinated notes with an aggregate principal amount of $50.0 million and a fixed-to-floating rate of 5.50%. The rate remains fixed until June 1, 2028, then adjusts on a quarterly basis to three-month LIBOR + 2.37%. The Bank may redeem the notes, beginning with the interest payment due on June 1, 2028, in whole or in part at a redemption price equal to 100% of the principal amount of the subordinated notes, plus accrued and unpaid interest to the date of redemption. Deferred issuance costs of $1.1 million are being amortized on a straight-line basis over the term of the notes.

First Commonwealth currently has two trusts, First Commonwealth Capital Trust II and First Commonwealth Capital Trust III, of which 100% of the common equity is owned by First Commonwealth. The trusts were formed for the purpose of issuing company obligated mandatorily redeemable capital securities to third-party investors and investing the proceeds from the sale of the capital securities solely in junior subordinated debt securities (“subordinated debentures”) of First Commonwealth. The subordinated debentures held by each trust are the sole assets of the trust.

Interest on the debentures issued to First Commonwealth Capital Trust III is paid quarterly at a floating rate of three-month LIBOR + 2.85% which is reset quarterly. Subject to regulatory approval, First Commonwealth may redeem the debentures, in whole or in part, at its option on any interest payment date at a redemption price equal to 100% of the principal amount of the debentures, plus accrued and unpaid interest to the date of the redemption. Deferred issuance costs of $0.6 million are being amortized on a straight-line basis over the term of the securities.

Interest on the debentures issued to First Commonwealth Capital Trust II is paid quarterly at a floating rate of three-month LIBOR + 2.85%, which is reset quarterly. Subject to regulatory approval, First Commonwealth may redeem the debentures, in whole or in part, at its option at a redemption price equal to 100% of the principal amount of the debentures, plus accrued and unpaid interest to the date of the redemption. Deferred issuance costs of $0.5 million are being amortized on a straight-line basis over the term of the securities.

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Other Long-term Debt

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Other Long-term Debt

Other Long-term Debt

Other long-term debt at December 31 follows:

	2021				2020
	Amount		Weighted Average Contractual Rate		Amount		Weighted Average Contractual Rate
	(dollars in thousands)
Borrowings from FHLB due:
2021					$	50,685	2.32	%
2022	$	712	3.85	%	712		3.85
2023	739		3.86		739		3.86
2024	769		3.86		769		3.86
2025	799		3.86		799		3.86
2026	830		3.87
Thereafter	1,724		3.68		2,554		3.74
Total	$	5,573			$	56,258

The weighted average contractual rate reflects the rate due to creditors. The weighted average effective rate of long-term debt is equal to the weighted average contractual rate.

All of First Commonwealth’s Federal Home Loan Bank stock, along with an interest in mortgage loans and residential mortgage backed securities, has been pledged as collateral with the Federal Home Loan Bank of Pittsburgh.

Capital securities included in total long-term debt on the Consolidated Statements of Financial Condition are excluded from the above, but are described in Note 14, “Subordinated Debentures.”

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Fair Values of Assets and Liabilities

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Values of Assets and Liabilities

Fair Values of Assets and Liabilities

FASB ASC Topic 820, “Fair Value Measurements and Disclosures,” requires disclosures for non-financial assets and non-financial liabilities, except for items that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least annually). All non-financial assets are included either as a separate line item on the Consolidated Statements of Financial Condition or in the “Other assets” category of the Consolidated Statements of Financial Condition. Currently, First Commonwealth does not have any non-financial liabilities to disclose.

FASB ASC Topic 825, “Financial Instruments" ("Topic 825"), permits entities to irrevocably elect to measure select financial instruments and certain other items at fair value. The unrealized gains and losses are required to be included in earnings each reporting period for the items that fair value measurement is elected. First Commonwealth has elected not to measure any

existing financial instruments at fair value under Topic 825; however, in the future we may elect to adopt this guidance for select financial instruments.

In accordance with Topic 820, First Commonwealth groups financial assets and financial liabilities measured at fair value in three levels, based on the principal markets in which the assets and liabilities are transacted and the observability of the data points used to determine fair value. These levels are defined in Note 1, "Statement of Accounting Policies."

Level 2 investment securities are valued by a recognized third party pricing service using observable inputs. The model used by the pricing service varies by asset class and incorporates available market, trade and bid information as well as cash flow information when applicable. Because many fixed-income investment securities do not trade on a daily basis, the model uses available information such as benchmark yield curves, benchmarking of like investment securities, sector groupings and matrix pricing. The model will also use processes such as an option-adjusted spread to assess the impact of interest rates and to develop prepayment estimates. Market inputs normally used in the pricing model include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data including market research publications.

Management validates the market values provided by the third party service by having another source price 100% of the securities on a monthly basis, monthly monitoring of variances from prior period pricing and, on a monthly basis, evaluating pricing changes compared to expectations based on changes in the financial markets.

Other Investments include FHLB stock whose estimated fair value is based on its par value. Additional information on FHLB stock is provided in Note 7, “Investment Securities.”

Loans held for sale include residential mortgage loans originated for sale in the secondary mortgage market. The estimated fair value for these loans was determined on the basis of rates obtained in the respective secondary market. Loans held for sale could also include the Small Business Administration guaranteed portion of small business loans. The estimated fair value of these loans is based on the contract with the third party investor.

During the third quarter of 2020, the company announced the consolidation of 29 branch locations into nearby offices prior to December 31, 2020. As a result, 17 owned locations were moved to held for sale and are being carried at the lower of cost or fair value. At December 31, 2021, three locations were remaining in held for sale, all of which were being carried at cost. At December 31, 2020, four of these locations were carried at fair value, determined by an independent market-based appraisal less estimated costs to sell, and are classified as Level 2.

Interest rate derivatives are reported at estimated fair value utilizing Level 2 inputs and are included in "Other assets" and "Other liabilities" in the Consolidated Statements of Financial Condition. These consist of interest rate swaps where there is no significant deterioration in the counterparties' (loan customers') credit risk since origination of the interest rate swap as well as interest rate caps, interest rate collars and risk participation agreements. First Commonwealth values its interest rate swap and cap positions using a yield curve by taking market prices/rates for an appropriate set of instruments. The set of instruments currently used to determine the U.S. Dollar yield curve includes cash LIBOR rates from overnight to one year, Eurodollar futures contracts and swap rates from one year to thirty years. These yield curves determine the valuations of interest rate swaps. Interest rate derivatives are further described in Note 6, “Derivatives.”

For purposes of potential valuation adjustments to our derivative positions, First Commonwealth evaluates the credit risk of its counterparties as well as our own credit risk. Accordingly, we have considered factors such as the likelihood of default, expected loss given default, net exposures and remaining contractual life, among other things, in determining if any estimated fair value adjustments related to credit risk are required. We review our counterparty exposure quarterly, and when necessary, appropriate adjustments are made to reflect the exposure.

We also utilize this approach to estimate our own credit risk on derivative liability positions. In 2021 and 2020, we have not realized any losses due to a counterparty's inability to pay any net uncollateralized position.

Interest rate derivatives also include interest rate forwards entered into to hedge residential mortgage loans held for sale and the related interest-rate lock commitments. This includes forward commitments to sell mortgage loans. The fair value of these derivative financial instruments are based on derivative market data inputs as of the valuation date and the underlying value of mortgage loans for rate lock commitments.

In addition, the Company hedges foreign currency risk through the use of foreign exchange forward contracts. The fair value of foreign exchange forward contracts is based on the differential between the contract price and the market-based forward rate.

The estimated fair value for other real estate owned included in Level 2 is determined by either an independent market based appraisal less estimated costs to sell or an executed sales agreement.

The estimated fair value of the other investments included in Level 3 is based on carrying value as these securities do not have a readily determinable fair value.

The estimated fair value of limited partnership investments included in Level 3 is based on par value.

For interest rate derivatives included in Level 3, the fair value incorporates credit risk by considering such factors as likelihood of default and expected loss given default based on credit quality of the underlying counterparties (loan customers).

In accordance with ASU 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 Inputs	Range /  (weighted average)
December 31, 2021
Other Investments	$	1,170		Carrying Value	N/A	N/A
Nonperforming Loans	598		(a)	Gas Reserve Study	Discount rate	10.00%
					Gas per MMBTU	$2.00 - $2.00 (b)
					Oil per BBL/d	$50.00 - $50.00 (b)
Limited Partnership Investments	14,981			Par Value	N/A	N/A
December 31, 2020
Other Investments	1,670			Carrying Value	N/A	N/A
Nonperforming Loans	798		(a)	Gas Reserve study	Discount rate	10.00%
					Gas per MMBTU	$1.46 - $1.48 (b)
					Oil per BBL/d	$36.00 - $36.00 (b)
Limited Partnership Investments	6,619			Par Value	N/A	N/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.

The discount rate is the significant unobservable input used in the fair value measurement of nonperforming loans. Significant increases in this rate would result in a decrease in the estimated fair value of the loans, while a decrease in this rate would result in a higher fair value measurement. Other unobservable inputs in the fair value measurement of nonperforming loans relate to gas, oil and natural gas prices. Increases in these prices would result in an increase in the estimated fair value of the loans, while a decrease in these prices would result in a lower fair value measurement.

The tables below present the balances of assets and liabilities measured at fair value on a recurring basis at December 31:

	2021
	Level 1		Level 2		Level 3		Total
	(dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities—Residential	$	—	$	5,662	$	—	$	5,662
Mortgage-Backed Securities—Commercial	—		362,290		—		362,290
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities—Residential	—		629,974		—		629,974
Other Government-Sponsored Enterprises	—		981		—		981
Obligations of States and Political Subdivisions	—		9,524		—		9,524
Corporate Securities	—		32,949		—		32,949
Total Securities Available for Sale	—		1,041,380		—		1,041,380
Other Investments	—		11,668		1,170		12,838
Loans Held for Sale	—		18,583		—		18,583
Other Assets (a)	—		26,805		14,981		41,786
Total Assets	$	—	$	1,098,436	$	16,151	$	1,114,587
Other Liabilities (a)	$	—	$	34,263	$	—	$	34,263
Total Liabilities	$	—	$	34,263	$	—	$	34,263

(a)Hedging and non-hedging interest rate derivatives and limited partnership investments

	2020
	Level 1		Level 2		Level 3		Total
	(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	—		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 and limited partnership investments

The changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows for the year ended December 31, 2021:

	Other Investments		Other Assets		Total
	(dollars in thousands)
Balance, beginning of year	$	1,670	$	6,619	$	8,289
Total gains or losses
Included in earnings	—		—		—
Included in other comprehensive income	—		—		—
Purchases, issuances, sales, and settlements
Purchases	—		8,511		8,511
Issuances	—		—		—
Sales	—		—		—
Settlements	(500)		(149)		(649)
Transfers from Level 3	—		—		—
Transfers into Level 3	—		—		—
Balance, end of year	$	1,170	$	14,981	$	16,151

There are no gains or losses included in earnings for the period that are attributable to the change in realized gains (losses) relating to assets held at December 31, 2021.

During the year ended December 31, 2021, there were no transfers between fair value Levels 1, 2 or 3.

The changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows for the year ended December 31, 2020:

	Other Investments		Other Assets		Total
	(dollars in thousands)
Balance, beginning of year	$	1,670	$	5,795	$	7,465
Total gains or losses
Included in earnings	—		—		—
Included in other comprehensive income	—		—		—
Purchases, issuances, sales, and settlements
Purchases	—		824		824
Issuances	—		—		—
Sales	—		—		—
Settlements	—		—		—
Transfers from Level 3	—		—		—
Transfers into Level 3	—		—		—
Balance, end of year	$	1,670	$	6,619	$	8,289

There are no gains or losses included in earnings for the period that are attributable to the change in realized gains (losses) relating to assets held at December 31, 2020.

During the year ended December 31, 2020, there were no transfers between fair value Levels 1, 2 or 3.

The tables below present the balances of assets measured at fair value on a nonrecurring basis at December 31 and total gains and losses realized on these assets during the year ended December 31:

	2021
	Level 1		Level 2		Level 3		Total		Total Gains (Losses)
	(dollars in thousands)
Nonperforming loans	$	—	$	42,538	$	12,247	$	54,785	$	352
Other real estate owned	—		729		—		729		—
Total Assets	$	—	$	43,267	$	12,247	$	55,514	$	352

	2020
	Level 1		Level 2		Level 3		Total		Total Gains (Losses)
	(dollars in thousands)
Nonperforming loans	$	—	$	35,543	$	13,604	$	49,147	$	(7,905)
Other real estate owned	—		1,319		—		1,319		(30)
Total Assets	$	—	$	36,862	$	13,604	$	50,466	$	(7,935)

Nonperforming loans over $250 thousand are individually reviewed to determine the amount of each loan considered to be at risk of noncollection. The fair value for nonperforming loans that are collateral based is determined by reviewing real property appraisals, equipment valuations, accounts receivable listings and other financial information. A discounted cash flow analysis is performed to determine fair value for nonperforming loans when an observable market price or a current appraisal is not available. For real estate secured loans, First Commonwealth’s loan policy requires updated appraisals be obtained at least every twelve months on all nonperforming loans with balances of $250 thousand and over. For real estate secured loans with balances under $250 thousand, we rely on broker price opinions. For non-real estate secured assets, the Company normally relies on third party valuations specific to the collateral type.

The fair value for other real estate owned, determined by either an independent market based appraisal less estimated costs to sell or an executed sales agreement, is classified as Level 2. The fair value for other real estate owned determined using an internal valuation is classified as Level 3. Other real estate owned had a current carrying value of $0.6 million as of December 31, 2021 and consisted primarily of commercial real estate properties in Pennsylvania. We review whether events and circumstances subsequent to a transfer to other real estate owned have occurred that indicate the balance of those assets may not be recoverable. If events and circumstances indicate further impairment, we will record a charge to the extent that the carrying value of the assets exceed their fair values, less estimated costs to sell, as determined by valuation techniques appropriate in the circumstances.

Certain other assets and liabilities, including goodwill, core deposit intangibles and customer list intangibles are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances. Additional information related to this measurement is provided in Note 11 “Goodwill and Other Amortizing Intangible Assets.” There were no other assets or liabilities measured at fair value on a nonrecurring basis during 2021.

FASB ASC Topic 825-10, “Transition Related to FSP FAS 107-1” and APB 28-1, “Interim Disclosures about Fair Value of Financial Instruments,” requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis. The methodologies for estimating the fair value of financial assets and financial liabilities that are measured at fair value on a recurring or nonrecurring basis are as discussed above. The methodologies for other financial assets and financial liabilities are discussed below.

Cash and due from banks and interest bearing bank deposits: The carrying amounts for cash and due from banks and interest-bearing bank deposits approximate the estimated fair values of such assets.

Securities: Fair values for available for sale and held to maturity securities are based on quoted market prices, if available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. The carrying value of other investments, which includes FHLB stock, is considered a reasonable estimate of fair value.

Loans held for sale: The estimated fair value of loans held for sale is based on market bids obtained from potential buyers.

Loans: The fair values of all loans are estimated by discounting the estimated future cash flows using interest rates currently offered for loans with similar terms to borrowers of similar credit quality adjusted for past due and nonperforming loans.

Off-balance sheet instruments: Many of First Commonwealth’s off-balance sheet instruments, primarily loan commitments and standby letters of credit, are expected to expire without being drawn upon; therefore, the commitment amounts do not necessarily represent future cash requirements. FASB ASC Topic 460, “Guarantees,” clarified that a guarantor is required to recognize, at the inception of a guarantee, a liability for the fair value of the obligation undertaken in issuing the guarantee. The carrying amount and estimated fair value for standby letters of credit was $0.1 million at both December 31, 2021 and 2020. See Note 9, “Commitments and Letters of Credit,” for additional information.

Deposit liabilities: The estimated fair value of demand deposits, savings accounts and money market deposits is the amount payable on demand at the reporting date because of the customers' ability to withdraw funds immediately. The carrying value of variable rate time deposit accounts and certificates of deposit approximate the fair value at the report date. Also, fair values of fixed rate time deposits for both periods are estimated by discounting the future cash flows using interest rates currently being offered and a schedule of aggregated expected maturities.

Short-term borrowings: The fair values of borrowings from the FHLB were estimated based on the estimated incremental borrowing rate for similar types of borrowings. The carrying amounts of other short-term borrowings, such as federal funds purchased and securities sold under agreement to repurchase, were used to approximate fair value due to the short-term nature of the borrowings.

Subordinated debt and long-term debt: The fair value of long-term debt and subordinated debt is estimated by discounting the future cash flows using First Commonwealth’s estimate of the current market rate for similar types of borrowing arrangements.

The following table presents carrying amounts and estimated fair values of First Commonwealth’s financial instruments at December 31:

	2021
			Fair Value Measurements Using:
	Carrying Amount		Total		Level 1		Level 2		Level 3
	(dollars in thousands)
Financial assets
Cash and due from banks	$	84,738	$	84,738	$	84,738	$	—	$	—
Interest-bearing deposits	310,634		310,634		310,634		—		—
Securities available for sale	1,041,380		1,041,380		—		1,041,380		—
Securities held to maturity	541,311		536,651		—		536,651		—
Other investments	12,838		12,838		—		11,668		1,170
Loans held for sale	18,583		18,583		—		18,583		—
Loans	6,839,230		7,169,768		—		42,538		7,127,230
Financial liabilities
Deposits	7,982,498		7,980,101		—		7,980,101		—
Short-term borrowings	138,315		136,473		—		136,473		—
Long-term debt	5,573		6,065		—		6,065		—
Subordinated debt	170,775		175,040		—		—		175,040
Capital lease obligation	5,921		5,921		—		5,921		—

	2020
			Fair Value Measurements Using:
	Carrying Amount		Total		Level 1		Level 2		Level 3
	(dollars in thousands)
Financial assets
Cash and due from banks	$	100,009	$	100,009	$	100,009	$	—	$	—
Interest-bearing deposits	256,572		256,572		256,572		—		—
Securities available for sale	831,223		831,223		—		831,223		—
Securities held to maturity	361,844		369,851		—		369,851		—
Other investments	12,227		12,227		—		10,557		1,670
Loans held for sale	33,436		33,436		—		33,436		—
Loans	6,761,183		7,202,763		—		35,543		7,167,220
Financial liabilities
Deposits	7,438,666		7,440,906		—		7,440,906		—
Short-term borrowings	117,373		117,037		—		117,037		—
Long-term debt	56,258		57,881		—		57,881		—
Subordinated debt	170,612		165,665		—		—		165,665
Capital lease obligation	6,385		6,385		—		6,385		—

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Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The income tax provision for the years ended December 31 is as follows:

	2021		2020		2019
	(dollars in thousands)
Current tax provision:
Federal	$	32,586	$	21,629	$	22,942
State	397		329		282
Total current tax provision	32,983		21,958		23,224
Deferred tax provision (benefit):
Federal	1,501		(5,070)		2,284
State	76		(132)		8
Total deferred tax provision	1,577		(5,202)		2,292
Total tax provision	$	34,560	$	16,756	$	25,516

The statutory to effective tax rate reconciliation for the years ended December 31 is as follows:

	2021				2020				2019
	Amount		% of Pretax Income		Amount		% of Pretax Income		Amount		% of Pretax Income
	(dollars in thousands)
Tax at statutory rate	$	36,292	21	%	$	18,943	21	%	$	27,478	21	%
Increase (decrease) resulting from:
State income tax, net of federal benefit	326		—		155		—		229		—
Income from bank owned life insurance	(1,351)		(1)		(1,376)		(1)		(1,260)		(1)
Tax-exempt interest income, net	(846)		—		(1,117)		(1)		(1,298)		(1)
Tax credits	(127)		—		(44)		—		(7)		—
Other	266		—		195		—		374		—
Total tax provision	$	34,560	20	%	$	16,756	19	%	$	25,516	19	%

The total tax provision for financial reporting differs from the amount computed by applying the statutory federal income tax rate to income before taxes. First Commonwealth ordinarily generates an annual effective tax rate that is less than the statutory rate of 21% due to benefits resulting from tax-exempt interest, income from bank owned life insurance, and tax benefits associated with low-income housing tax credits. The consistent level of tax benefits that reduce First Commonwealth’s tax rate below the statutory rate produced an annual effective tax rate of 20% for the year ended December 31, 2021 and 19% for each of the years ended December 31, 2020 and 2019.

The tax effects of temporary differences between the financial statement carrying amounts and the tax bases of assets and liabilities that represent significant portions of the deferred tax assets and liabilities at December 31 are presented below:

	2021		2020
	(dollars in thousands)
Deferred tax assets:
Lease liability	$	9,489	$	9,928
Allowance for credit losses	19,597		21,483
Postretirement benefits other than pensions	235		242
Unrealized loss on securities available for sale	2,357		—
Net operating loss carryforward	75		385
Deferred compensation	1,969		1,723
Accrued interest on nonaccrual loans	779		644
Accrued incentives	2,591		2,182
Unfunded loan commitments & other reserves	1,363		1,576
Other	988		1,831
Total deferred tax assets	39,443		39,994
Deferred tax liabilities:
Loan origination fees and costs	(253)		(1,280)
Right of use asset	(8,589)		(9,037)
Unrealized gain on securities available for sale	—		(4,629)
Depreciation of assets	(1,725)		(2,103)
Section 197 intangibles	(1,107)		(540)
Other	(308)		(424)
Total deferred tax liabilities	(11,982)		(18,013)
Net deferred tax asset	$	27,461	$	21,981

The Company has approximately $1.0 million of federal net operating losses which are subject to an annual limitation under IRC Section 382. The Company has approximately $1.0 million of Pennsylvania net operating losses which begin to expire in 2034 and the Company expects to fully utilize the losses prior to expiration.

Management assesses all available positive and negative evidence to estimate if sufficient future taxable income will be generated to utilize the existing deferred tax assets. Based on our evaluation, as of December 31, 2021, management has determined that no valuation allowance is necessary for the deferred tax assets because it is more likely than not that these assets will be realized through future reversals of existing temporary differences and future taxable income.

In accordance with FASB ASC Topic 740-10, “Accounting for Uncertainty in Income Taxes,” the Company has no material unrecognized tax benefits or accrued interest and penalties as of December 31, 2021. We do not expect the total amount of unrecognized tax benefits to significantly increase in the next twelve months. The Company records interest and penalties on unrecognized tax benefits as a component of noninterest expense.

First Commonwealth is subject to routine audits of our tax returns by the Internal Revenue Service (“IRS”) as well as all states in which we conduct business. Generally, tax years prior to the year ended December 31, 2018 are no longer open to examination by federal and state taxing authorities.

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Retirement Plans

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Retirement Plans

Retirement PlansFirst Commonwealth has a savings plan pursuant to the provisions of section 401(k) of the Internal Revenue code. Effective January 1, 2020, a participating employee can receive a maximum matching contribution of 4% of their eligible compensation. In addition, each participating employee may contribute up to 80% of their eligible compensation to the plan. The 401(k) plan expense was $3.0 million in 2021, $3.9 million in 2020, and $3.6 million in 2019.

First Commonwealth maintains a Non-Qualified Deferred Compensation Plan (“NQDC Plan”) to provide deferred compensation for those employees who are in the top 7% of full-time employees, as determined on the basis of eligible compensation. The NQDC Plan provides participants whose maximum retirement contribution is limited by IRS rules to defer additional compensation.

Participants in the NQDC Plan are eligible to defer (on a pre-tax basis) from 1% to 25% of their eligible Plan compensation. Participants are also eligible to defer all or a portion of the Annual Incentive Plan (on a pre-tax basis) from 10% to 100% of their annual cash incentive earned. There was no NQDC Plan expense in 2021, 2020 and 2019.

Select employees from former acquisitions were covered by postretirement benefit plans which provide medical and life insurance coverage. The measurement date for these plans was December 31.

Postretirement Benefits Other than Pensions from Prior Acquisitions

Net periodic benefit cost of these plans for the years ended December 31, was as follows:

	2021		2020		2019
	(dollars in thousands)
Service cost	$	—	$	—	$	—
Interest cost on projected benefit obligation	23		23		34
Amortization of transition obligation	—		—		—
Amortization of prior service cost	76		—		—
Gain amortization	(27)		(52)		(60)
Net periodic benefit cost	$	72	$	(29)	$	(26)

The following table sets forth the change in the benefit obligation and plan assets as of December 31:

	2021		2020
	(dollars in thousands)
Change in Benefit Obligation
Benefit obligation at beginning of year	$	1,372	$	834
Service cost	—		—
Interest cost	23		23
Amendments	—		537
Actuarial gain	(302)		102
Net benefits paid	(107)		(124)
Benefit obligation at end of year	986		1,372
Change in Plan Assets
Fair value of plan assets at beginning of year	—		—
Actual return on plan assets	—		—
Employer contributions	107		124
Net benefits paid	(107)		(124)
Fair value of plan assets at end of year	—		—
Funded Status at End of Year	986		1,372
Unrecognized prior service cost	(461)		(537)
Unrecognized net gain	584		308
Amounts recognized in retained earnings	$	1,109	$	1,143

As of December 31, the funded status of the plan is:

	2021		2020
	(dollars in thousands)
Amounts Recognized in the Statement of Financial Condition as Other liabilities	$	986	$	1,372

The following table sets forth the amounts recognized in accumulated other comprehensive income that have not yet been recognized as components of net periodic benefit costs as of December 31:

	2021		2020		2019
	(dollars in thousands)
Amounts recognized in accumulated other comprehensive income, net of tax:
Net (gain) loss	$	(461)	$	(243)	$	(366)
Prior service cost	364		424		—
Total	$	(97)	$	181	$	(366)

Weighted-average assumptions used to determine the benefit obligation as of December 31 are as follows:

	2021		2020		2019
Weighted-Average Assumptions
Discount rate	2.38	%	1.83	%	2.88	%
Health care cost trend: Initial	5.90	%	5.95	%	5.55	%
Health care cost trend: Ultimate	4.75	%	4.75	%	4.75	%
Year ultimate reached	2027		2026		2025

Weighted-average assumptions used to determine the net benefit costs as of December 31 are as follows: 

	2021		2020		2019
Weighted-Average Assumptions for Net Periodic Cost
Discount rate	1.83	%	2.88	%	4.11	%
Health care cost trend: Initial	5.95	%	5.55	%	6.00	%
Health care cost trend: Ultimate	4.75	%	4.75	%	4.75	%
Year ultimate reached	2026		2025		2024
Corridor	10.00	%	10.00	%	10.00	%
Recognition period for gains and losses	10.4		10.9		12.1

The Medicare Prescription Drug, Improvement and Modernization Act of 2003 (the “Act”) introduced a prescription drug benefit under Medicare Part D and a federal subsidy to sponsors of retiree health care benefit plans that provide a prescription drug benefit that is at least actuarially equivalent to Medicare Part D. The postretirement plans of First Commonwealth are provided through insurance coverage; therefore, First Commonwealth will not receive a direct federal subsidy. The preceding measures of the accumulated postretirement benefit cost assume that First Commonwealth will not receive the subsidy due to the relatively small number of retirees.

As of December 31, 2021, the projected benefit payments for the next ten years are as follows:

	Projected Benefit         Payments
	(dollars in thousands)
2022	$	118
2023	113
2024	107
2025	100
2026	93
2027 - 2031	350

The projected payments were calculated using the same assumptions as those used to calculate the benefit obligations included in this note.

The estimated costs that will be amortized from accumulated other comprehensive income into net periodic cost for 2022 are as follows (dollars in thousands):

	Postretirement Benefits
	(dollars in thousands)
Net gain	$	(69)
Prior service cost	76
Total	$	7

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Incentive Compensation Plan

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Incentive Compensation Plan

Incentive Compensation Plan

On January 20, 2009, the Board of Directors of the Company adopted, with shareholder approval, the First Commonwealth Financial Corporation Incentive Compensation Plan. This plan allows for shares of common stock to be issued to employees, directors, and consultants of the Company and its subsidiaries as an incentive to aid in the financial success of the Company. The shares can be issued as options, stock appreciation rights, performance share or unit awards, dividend or dividend equivalent rights, stock awards, restricted stock awards, or other annual incentive awards. Up to 5,000,000 shares of stock can be awarded under this plan, of which 2,434,596 shares were still eligible for awards as of December 31, 2021.

Restricted Stock

The following provides detail on the restricted stock awards which were issued and outstanding in 2021, 2020 and 2019 in order to retain and attract key employees. The grant date fair value of the restricted stock awards is equal to the price of First Commonwealth’s common stock on grant date.

Grant Date	Shares issued	Grant Price		Vesting Date	Number of Equal Vesting Periods
December 13, 2021	2,000	$	14.83	December 13, 2024	1
December 9, 2021	1,000	15.07		December 9, 2024	1
November 22, 2021	1,565	15.96		November 22, 2024	1
November 19, 2021	24,000	15.81		November 19, 2024	1
September 27, 2021	6,000	13.78		September 27, 2024	1
June 14, 2021	15,000	14.58		June 1, 2024	3
February 18, 2021	84,950	12.77		February 18, 2024	1
February 20, 2020	95,300	13.72		February 20, 2023	1
February 21, 2019	63,000	14.22		February 22, 2022	1
February 21, 2019	15,000	14.22		February 22, 2022	1
November 26, 2018	2,000	13.82		November 26, 2021	1
May 29, 2018	3,000	15.44		May 29, 2021	1
March 26, 2018	2,000	14.08		March 26, 2021	1
February 26, 2018	77,500	14.49		February 26, 2021	1
March 24, 2017	5,000	12.99		March 24, 2020	1
March 24, 2017	7,000	12.99		March 24, 2020	1
December 19, 2016	15,000	13.96		December 19, 2019	3
September 30, 2016	10,000	10.09		September 30, 2019	1
September 19, 2016	33,000	10.02		September 19, 2019	3
June 7, 2016	10,000	9.34		June 7, 2019	1
March 1, 2016	10,000	8.84		March 1, 2019	1
March 1, 2016	5,000	8.84		March 1, 2019	1

Compensation expense related to restricted stock was $3.1 million, $2.9 million and $2.7 million in 2021, 2020 and 2019, respectively. As of December 31, 2021, there was $3.8 million of unrecognized compensation cost related to unvested restricted stock awards granted.

A summary of the status of First Commonwealth’s unvested service-based restricted stock awards as of December 31 and changes for the years ended on those dates is presented below:

	2021			2020			2019
	Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value
Outstanding, beginning of the year	250,800	$	14.13	171,500	$	14.27	137,500	$	13.05
Granted	134,515	13.64		95,300	13.72		78,000	14.22
Vested	(88,389)	14.46		(12,000)	12.99		(41,000)	10.09
Forfeited	(10,911)	13.66		(4,000)	13.85		(3,000)	14.40
Outstanding, end of the year	286,015	13.82		250,800	14.13		171,500	14.27

The following provides detail on restricted stock awards estimated to be granted on a performance award basis during 2021, 2020 and 2019. These plans were previously approved by the Board of Directors.

Grant Date	Target Share Award	Performance Period (years)	Award if threshold met		Award if targets are met		Award if superior met		Award if threshold not achieved		Vesting After Performance Period (years)	Final vesting
December 30, 2015	60,000	5									0	December 31, 2020
February 23, 2017	93,500	3	40	%	100	%	200	%	—	%	0	December 31, 2019
February 22, 2018	102,000	3	40	%	100	%	200	%	—	%	0	December 31, 2020
February 21, 2019	121,900	3	40	%	100	%	200	%	—	%	0	December 31, 2021
February 20, 2020	125,800	3	40	%	100	%	200	%	—	%	0	December 31, 2022
February 18, 2021	143,400	3	40	%	100	%	200	%	—	%	0	December 31, 2023

The following table summarizes the estimated unvested target share awards for the Plans as of December 31:

	2021	2020	2019
Outstanding, beginning of the year	434,180	442,832	496,603
Granted	143,400	125,800	134,929
Issued	(158,531)	(134,452)	(188,700)
Forfeited	(27,949)	—	—
Outstanding, end of the year	391,100	434,180	442,832

Based on a Monte Carlo simulation, the above grants have the following fair market values per share:

	Proportional Fair Value
	50%		25%		25%
February 23, 2017	$	13.29	$	13.29	$	15.09
February 22, 2018	14.17		13.25		15.83
February 21, 2019	14.22		16.62		13.07
February 20, 2020	13.72		15.37		12.43
February 18, 2021	12.77		11.45		16.41

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Contingent Liabilities

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Contingent Liabilities

Contingent Liabilities

Legal proceedings

First Commonwealth and its subsidiaries are subject in the normal course of business to various pending and threatened legal proceedings in which claims for monetary damages are asserted. As of December 31, 2021, management, after consultation with legal counsel, does not anticipate that the aggregate ultimate liability arising out of litigation pending or threatened against First Commonwealth or its subsidiaries will be material to First Commonwealth’s consolidated financial position. On at least a quarterly basis, First Commonwealth assesses its liabilities and contingencies in connection with such legal proceedings. For those matters where it is probable that First Commonwealth will incur losses and the amounts of the losses can be reasonably estimated, First Commonwealth records an expense and corresponding liability in its consolidated financial statements. To the extent the pending or threatened litigation could result in exposure in excess of that liability, the amount of such excess is not currently estimable. Although not considered probable, the range of reasonably possible losses for such matters in the aggregate, beyond the existing recorded liability (if any), is between $0 and $1 million. Although First Commonwealth does not believe that the outcome of pending litigation will be material to First Commonwealth’s consolidated financial position, it cannot rule out the possibility that such outcomes will be material to the consolidated results of operations and cash flows for a particular reporting period in the future.

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Revenue Recognition (Notes)

12 Months Ended

Dec. 31, 2021

Revenue Recognition and Deferred Revenue [Abstract]

Revenue Recognition

Revenue Recognition

Substantially all of the Company’s revenue is generated from contracts with customers. Revenue associated with financial instruments, including revenue from loans and securities, certain noninterest income streams such as fees associated with derivatives are not in scope of Topic 606 - Revenue from Contracts with Customers. Topic 606 is applicable to noninterest revenue streams such as trust income, service charges on deposits, insurance and retail brokerage commissions, card-related interchange income and gain(loss) on sale of OREO. For contracts within the scope of Topic 606, the Company immediately expenses contract acquisition costs when the asset that would have resulted from capitalizing these costs would have been amortized in one year or less.

Noninterest revenue streams in-scope of Topic 606 are discussed below:

Trust Income

Trust income is primarily comprised of fees earned from the management and administration of trusts and other customer assets. The Company’s performance obligation is generally satisfied over time and the resulting fees are recognized monthly, based upon a tiered scale of market value of the assets under management at month-end. Payment is generally received a few days after month end through a direct charge to customers’ accounts. The Company does not earn performance-based incentives. Optional services such as financial planning or tax return preparation services are also available to trust customers. The Company’s performance obligation for these transactional-based services is generally satisfied and related revenue recognized, at a point in time. Payment is received shortly after services are rendered.

Service Charges on Deposit Accounts

Service charges on deposit accounts consist of fees earned from its deposit customers for transaction-based, account maintenance, overdraft services and account analysis fees. Transaction-based fees, which include services such as ATM use fees, stop payment fees, statement rendering and ACH fees, are recognized at the time the transaction is executed which is the point in time the Company fulfills the customer’s request. Monthly account maintenance fees are earned over the course of the month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. The Company’s performance obligation for account analysis fees is generally satisfied, and the related revenue recognized, during the month the service is provided. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to customers’ accounts.

Insurance and Retail Brokerage Commissions

Insurance income primarily consists of commissions received from execution of personal, business and health insurance policies when acting as an agent on behalf of insurance carriers. The Company’s performance obligation is generally satisfied upon the issuance of the insurance policy. Because the Company’s contracts with the insurance carriers are generally cancellable by either party, with minimal notice, insurance commissions are recognized during the policy period as received. Also, the majority of insurance commissions are received on a monthly basis during the policy period, however some carriers pay the full annual commission to First Commonwealth at the time of policy issuance or renewal. In these cases, First Commonwealth would be required to refund any commissions it would not be entitled to as a result of cancelled or terminated policies. The Company has established a refund liability for the remaining term of the policies expected to be cancelled. The

Company also receives incentive-based contingency fees from the insurance carriers. Contingency fee revenue, which totals approximately $0.5 million per year, is recognized as received due to the immaterial amount.

Retail brokerage income primarily consists of commissions received on annuity and investment product sales through a third-party service provider. The Company’s performance obligation is generally satisfied upon the issuance of the annuity policy or the execution of an investment transaction. The Company does not earn a significant amount of trailer fees on annuity sales. However, after considering the factors impacting these trailer fees, such as the uncertainty of investor behavior and changes in the market value of assets, First Commonwealth determined that it would recognize trailing fees as received because it could not reasonably estimate an amount of future trailing commissions for which collection is probable. Commissions from the third-party service provider are received on a monthly basis based upon customer activity for the month. The fees are recognized monthly with a receivable until commissions are received from the third-party service provider the following month. Because the Company acts as an agent in arranging the relationship between the customer and the third-party service provider and does not control the services rendered to the customers, retail brokerage fees are presented net of related costs, including $3.7 million and $3.0 million, respectively, in commission expense as of December 31, 2021 and 2020.

Card Related Interchange Income

Card related interchange income is primarily comprised of debit and credit card income, ATM fees and merchant services income. Debit and credit card income is primarily comprised of interchange fees earned whenever the Company’s debit and credit cards are processed through card payment networks such as MasterCard. ATM fees are primarily generated when a Company cardholder uses a non-Company ATM or a non-Company cardholder uses a Company ATM. Merchant services income mainly represents fees charged to merchants to process their debit and credit card transactions, in addition to account management fees. Card related interchange income is recognized at the point in time as the customer transactions are settled.

Other Income

Other income includes service revenue from processing wire transfers, bill pay service, cashier’s checks, and other services. The Company’s performance obligation for these services are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or in the following month.

Gains(losses) on sales of OREO

First Commonwealth records a gain or loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When First Commonwealth finances the sale of OREO to the buyer, an assessment of whether the buyer is committed to perform their obligations under the contract is completed along with an evaluation of whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon transfer of control of the property to the buyer. In determining the gain or loss on the sale, First Commonwealth adjusts the transaction price and related gain(loss) on sale if a significant financing component is present.

The following presents noninterest income, segregated by revenue streams in-scope and out-of-scope of Topic 606 for the year ended December 31:

	2021		2020		2019
	(dollars in thousands)
Noninterest Income
In-scope of Topic 606:
Trust income	$	11,111	$	9,101	$	8,321
Service charges on deposit accounts	17,984		16,387		18,926
Insurance and retail brokerage commissions	8,502		7,850		7,583
Card related interchange income	27,954		23,966		21,677
Gain on sale of other loans and assets	753		967		1,062
Other income	4,184		3,675		3,837
Noninterest Income (in-scope of Topic 606)	70,488		61,946		61,406
Noninterest Income (out-of-scope of Topic 606)	36,269		32,530		24,079
Total Noninterest Income	$	106,757	$	94,476	$	85,485

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Related Party Transactions

12 Months Ended

Dec. 31, 2021

Related Party Transactions [Abstract]

Related Party Transactions

Related Party Transactions

Some of First Commonwealth’s directors, executive officers, principal shareholders and their related interests had transactions with the subsidiary bank in the ordinary course of business. All deposit and loan transactions were made on substantially the same terms, such as collateral and interest rates, as those prevailing at the time for comparable transactions. In the opinion of management, these transactions do not involve more than the normal risk of collectability nor do they present other unfavorable features. It is anticipated that similar transactions will be entered into in the future.

The following is an analysis of loans to related parties (dollars in thousands):

December 31, 2020	$	19,573
Advances	535
Repayments	(1,155)
December 31, 2021	$	18,953

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Regulatory Restrictions and Capital Adequacy

12 Months Ended

Dec. 31, 2021

Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]

Regulatory Restrictions and Capital Adequacy

Regulatory Restrictions and Capital Adequacy

The amount of funds available to the parent from its subsidiary bank is limited by restrictions imposed on all depository institutions by banking regulation that restricts and limits the payment of dividends and the ability of depository institutions to engage in transactions, including lending transactions and asset purchases, with affiliates.

First Commonwealth and First Commonwealth Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators which, if undertaken, could have a direct material effect on First Commonwealth’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, First Commonwealth and First Commonwealth Bank must meet specific capital guidelines that involve quantitative measures of First Commonwealth’s assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. First Commonwealth’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weighting and other factors.

Effective January 1, 2015, First Commonwealth became subject to regulatory risk-based capital rules adopted by the federal banking agencies implementing Basel III. The capital rules require First Commonwealth to maintain the following minimum capital levels:

•a minimum Tier I capital to risk-weighted assets of at least 6.0%, plus a capital conservation buffer of 2.5%, resulting in a required minimum ratio of 8.5%

•a minimum Common Equity Tier 1 to risk weighted assets of at least 4.5%, plus the capital conservation buffer of 2.5%, resulting in a required minimum ratio of 7%.

•a minimum Total Capital to risk weighted assets of at least 8.0%, plus the 2.5% capital conservation buffer, resulting in a required minimum of 10.5%

•a minimum Leverage ratio, which is Tier 1 capital to adjusted average assets, of 4.0%

The capital conservation buffer may only include capital that qualifies as Common Equity Tier 1.

The Basel III Rules also permit banking organizations with less than $15.0 billion in assets to retain, through a one-time election, the exclusion of accumulated other comprehensive income from regulatory capital. The Company elected to retain this treatment, which reduces the volatility of regulatory capital levels.

During the second quarter of 2018, First Commonwealth Bank, the Company's banking subsidiary, issued $100 million in subordinated debt, which under regulatory rules qualifies as Tier II capital. This subordinated debt issuance increased the total risk-based capital ratio by 160 basis points.

As of December 31, 2021, the Company had $71.3 million in PPP loans outstanding under the CARES Act. Because these loans are 100% guaranteed by the SBA, banking regulators confirmed that they have a zero percent risk weight under applicable risk-based capital rules. Additionally, a bank may exclude all PPP loans pledged as collateral to the Federal Reserve's PPP Facility from average total assets when calculating its leverage ratio, while PPP loans that are not pledged as collateral to the PPP Facility will be included. The PPP loans originated by the Company are included in our leverage ratio as of December 31, 2021, as we did not utilize the PPP Facility.

As of December 31, 2021 and 2020, First Commonwealth and First Commonwealth Bank met all capital adequacy requirements to which they are subject and were considered well-capitalized under the regulatory rules as set forth in the tables below:

	Actual				Minimum Capital Required				Required to be Considered Well Capitalized
	Capital Amount		Ratio		Capital Amount		Ratio		Capital Amount		Ratio
	(dollars in thousands)
As of December 31, 2021
Total Capital to Risk Weighted Assets
First Commonwealth Financial Corporation	$	1,071,965	14.64	%	$	768,723	10.50	%	$	732,118	10.00	%
First Commonwealth Bank	1,041,854		14.26		767,321		10.50		730,782		10.00
Tier I Capital to Risk Weighted Assets
First Commonwealth Financial Corporation	$	894,670	12.22	%	$	622,300	8.50	%	$	585,694	8.00	%
First Commonwealth Bank	864,559		11.83		621,165		8.50		584,626		8.00
Tier I Capital to Average Assets
First Commonwealth Financial Corporation	$	894,670	9.73	%	$	367,656	4.00	%	$	459,570	5.00	%
First Commonwealth Bank	864,559		9.43		366,839		4.00		458,549		5.00
Common Equity Tier I to Risk Weighted Assets
First Commonwealth Financial Corporation	$	824,670	11.26	%	$	512,482	7.00	%	$	475,876	6.50	%
First Commonwealth Bank	864,559		11.83		511,547		7.00		475,008		6.50

	Actual				Minimum Capital Required				Required to be Considered Well Capitalized
	Capital Amount		Ratio		Capital Amount		Ratio		Capital Amount		Ratio
	(dollars in thousands)
As of December 31, 2020
Total Capital to Risk Weighted Assets
First Commonwealth Financial Corporation	$	1,010,608	14.88	%	$	713,289	10.50	%	$	679,323	10.00	%
First Commonwealth Bank	974,911		14.36		712,995		10.50		679,043		10.00
Tier I Capital to Risk Weighted Assets
First Commonwealth Financial Corporation	$	827,231	12.18	%	$	577,424	8.50	%	$	543,458	8.00	%
First Commonwealth Bank	791,568		11.66		577,186		8.50		543,234		8.00
Tier I Capital to Average Assets
First Commonwealth Financial Corporation	$	827,231	9.40	%	$	352,023	4.00	%	$	440,029	5.00	%
First Commonwealth Bank	791,568		9.01		351,244		4.00		439,055		5.00
Common Equity Tier I to Risk Weighted Assets
First Commonwealth Financial Corporation	$	757,231	11.15	%	$	475,526	7.00	%	$	441,560	6.50	%
First Commonwealth Bank	791,568		11.66		475,330		7.00		441,378		6.50

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Capital	12 Months Ended
	Dec. 31, 2021
Disclosure Capital Additional Information [Abstract]
Capital	CapitalAt December 31, 2021, shareholders’ equity was $1.1 billion, an increase of $40.8 million from December 31, 2020. The increase was primarily the result of $138.3 million in net income and $2.3 million in treasury stock sales. These increases were partially offset by $43.6 million of dividends paid to shareholders, $31.3 million of common stock repurchases and a $26.0 million decrease in the fair value of available for sale securities. Cash dividends declared per common share were $0.455, $0.440 and $0.400 for the years ended December 31, 2021, 2020 and 2019, respectively.As part of the Company's capital management, First Commonwealth's Board of Directors will periodically authorize stock repurchase plans. On March 4, 2019, a share repurchase program was authorized for up to $25.0 million in shares of the Company's common stock. This program completed prior to December 31, 2020, and resulted in the repurchase of 2,761,504 shares at an average price of $9.07. In January 2021, the Board of Directors authorized a $25.0 million share repurchase program of the Company's common stock. This plan completed in October of 2021 and resulted in the repurchase of 1,161,056 at an average price of $13.44. In November 2021, the Board of Directors authorized a $25.0 million share repurchase program of the Company's common stock. As of December 31, 2021, 937,670 shares at an average price of $15.39 have been repurchased. First Commonwealth may suspend or discontinue the program at any time.

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

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Disclosure [Abstract]

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

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

Statements of Financial Condition	December 31,
	2021		2020
	(dollars in thousands)
Assets
Cash	$	11,649	$	34,427
Loans	9		11
Investment in subsidiaries	1,152,580		1,108,801
Investment in unconsolidated subsidiary trusts	2,181		2,182
Investment in jointly-owned company	357		338
Premises and equipment, net	3,244		3,476
Dividends receivable from subsidiaries	7,762		3,038
Other assets	8,212		7,307
Total assets	$	1,185,994	$	1,159,580
Liabilities and Shareholders’ Equity
Accrued expenses and other liabilities	$	4,455	$	18,796
Subordinated debentures payable	72,167		72,167
Shareholders’ equity	1,109,372		1,068,617
Total liabilities and shareholders’ equity	$	1,185,994	$	1,159,580

Statements of Income	For the years ended December 31,
	2021		2020		2019
	(dollars in thousands)
Interest and dividends	$	4	$	8	$	8
Dividends from subsidiaries	72,202		61,708		55,964
Interest expense	(3,205)		(3,229)		(3,735)
Other income	—		3		6
Operating expense	(4,721)		(4,687)		(4,525)
Income before taxes and equity in undistributed earnings of subsidiaries	64,280		53,803		47,718
Applicable income tax benefits	1,646		1,648		1,720
Income before equity in undistributed earnings of subsidiaries	65,926		55,451		49,438
Equity in undistributed earnings of subsidiaries	72,331		17,996		55,895
Net income	$	138,257	$	73,447	$	105,333

	For the years ended December 31,
Statements of Cash Flow	2021		2020		2019
	(dollars in thousands)
Operating Activities
Net income	$	138,257	$	73,447	$	105,333
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	369		383		340
Net gains on sales of assets	228		—		(2)
Decrease (increase) in prepaid income taxes	317		(317)		629
Undistributed equity in subsidiaries	(72,330)		(17,996)		(55,895)
Other net	(14,830)		19,705		(2,957)
Net cash provided by operating activities	52,011		75,222		47,448
Investing Activities
Net change in loans	2		1		1
Purchases of premises and equipment	(101)		(20)		(586)
Proceeds from sale of other assets	—		—		2
Net cash used in investing activities	(99)		(19)		(583)
Financing Activities
Dividends paid	(43,611)		(42,982)		(39,394)
Proceeds from reissuance of treasury stock	222		222		211
Purchase of treasury stock	(31,301)		(20,905)		(6,259)
Net cash used in financing activities	(74,690)		(63,665)		(45,442)
Net increase (decrease) in cash	(22,778)		11,538		1,423
Cash at beginning of year	34,427		22,889		21,466
Cash at end of year	$	11,649	$	34,427	$	22,889

Cash dividends declared per common share were $0.455 for 2021, $0.440 in 2020 and $0.400 in 2019.

First Commonwealth Financial Corporation has an unsecured $20.0 million line of credit with another financial institution. As of December 31, 2021, there are no amounts outstanding on this line and we are in compliance with all debt covenants related to the line of credit.

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Statement of Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Business Combinations Policy [Policy Text Block]

Business Combinations

Business combinations are accounted for by using the acquisition method of accounting. Under the acquisition method, identifiable assets acquired and liabilities assumed at the acquisition date are measured at their fair values as of that date, and are recognized separately from goodwill. The difference between the purchase price and the fair value of the net assets acquired is recorded as goodwill. Results of operations of the acquired entities are included in the consolidated statement of income from the date of acquisition. Acquisition costs are expensed when incurred.

General

General

The following summary of accounting and reporting policies is presented to aid the reader in obtaining a better understanding of the consolidated financial statements of First Commonwealth Financial Corporation and its subsidiaries (“First Commonwealth”) contained in this report. First Commonwealth's subsidiaries include, First Commonwealth Bank ("FCB" or the "Bank"), First Commonwealth Insurance Agency, Inc. ("FCIA"), FRAMAL and First Commonwealth Financial Advisors, Inc. ("FCFA").

The financial information is presented in accordance with generally accepted accounting principles and general practice for financial institutions in the United States of America. In preparing financial statements, management is required to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. In addition, these estimates and assumptions affect revenues and expenses in the financial statements and as such, actual results could differ from those estimates.

Through its subsidiaries, which include a commercial bank and an insurance agency, First Commonwealth provides a full range of loan, deposit, trust, insurance and personal financial planning services primarily to individuals and small to middle market businesses in 26 counties in central and western Pennsylvania as well as throughout Ohio. First Commonwealth has determined that it has one business segment.

First Commonwealth is subject to regulations of certain state and federal agencies. These regulatory agencies periodically examine First Commonwealth for adherence to laws and regulations.

Basis of Presentation

Basis of Presentation

The accompanying Consolidated Financial Statements include the accounts of First Commonwealth previously defined above. All material intercompany transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform to the current period's presentation.

Equity investments of less than a majority but at least 20% ownership are accounted for by the equity method and classified as “Other assets.” Earnings on these investments are reflected in “Other income” on the Consolidated Statements of Income, as appropriate, in the period earned.

Securities

Securities

Debt securities that First Commonwealth has the positive intent and ability to hold to maturity are classified as securities held to maturity and are reported at amortized cost adjusted for amortization of premium and accretion of discount on a level yield basis. Debt and equity securities that are bought and held principally for the purpose of selling them in the near term are to be classified as trading securities and reported at fair value, with unrealized gains and losses included in earnings. Debt securities not classified as either held-to-maturity securities or trading securities are classified as securities available for sale and are reported at fair value, with unrealized gains and losses that are not related to impairment excluded from earnings and reported as a component of other comprehensive income, which is included in shareholders’ equity, net of deferred taxes.

First Commonwealth has securities classified as held to maturity and available for sale and does not engage in trading activities. First Commonwealth utilizes the specific identification method to determine the net gain or loss on debt securities and the average cost method to determine the net gain or loss on the equity securities.

First Commonwealth conducts a comprehensive review of the investment portfolio on a quarterly basis to evaluate for expected credit losses. When evaluating available-for-sale securities, management first considers whether we intend to sell the security, or if it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis. If there is intent to sell, the security's amortized cost is written down to fair value through income. Otherwise, available-for-sale securities whose market values have fallen below their book value are evaluated at the issuer-specific level to determine if the decline in value is a result of credit losses. Issuer-specific securities include obligations of U.S. Government agencies and sponsored enterprises, single issue trust preferred securities, corporate debentures and obligations of states and political subdivisions. Further analysis of these securities includes a review of research reports, analysts’ recommendations, credit rating changes, news stories, annual reports, impact of interest rate changes and any other relevant information pertaining to the affected security. Any loss not determined to be a credit loss is recorded as a reduction to shareholders equity, through other comprehensive income. Held-to-maturity securities are evaluated for impairment on a quarterly basis using historical probability of default and loss given default information specific to the investment category. If this evaluation determines that credit losses exist an allowance for credit loss is recorded and included in earnings as a component of credit loss expense.

Financing Receivable, Held-for-sale [Policy Text Block]

Mortgage Loans Held for SaleCertain residential mortgage loans are originated for sale in the secondary mortgage loan market with the majority sold with servicing rights released. These loans are classified as loans held for sale and are carried at the estimated market value on an aggregate basis. Market value is determined on the basis of rates obtained in the respective secondary market for the type of loan held for sale. Loans are generally sold at a premium or discount from the carrying amount of the loan. Such premium or discount is recognized at the date of sale. Gain or loss on the sale of loans is recorded in non-interest income at the time consideration is received and all other criteria for sales treatment have been met.

Loans

Loans

Loans are carried at the principal amount outstanding. Interest is accrued as earned. Loans held for sale are carried at the lower of cost or fair market value determined on an individual basis.

First Commonwealth considers a loan to be past due and still accruing interest when payment of interest or principal is contractually past due but the loan is both well secured and in the process of collection. For installment, mortgage, term and other loans with amortizing payments that are scheduled monthly, 90 days past due is reached when four monthly payments are due and unpaid. For demand, time and other multi-payment obligations with payments scheduled other than monthly, delinquency status is calculated using number of days instead of number of payments. Revolving credit loans, including personal credit lines and home equity lines, are considered to be 90 days past due when the borrower has not made the minimum payment for four monthly cycles.

A loan is placed in nonaccrual status when, based on current information and events, it is probable that First Commonwealth will be unable to fully collect principal or interest due according to the contractual terms of the loan. A loan is also placed in nonaccrual status when, based on regulatory definitions, the loan is maintained on a “cash basis” due to the weakened financial condition of the borrower. When a determination is made to place a loan in nonaccrual status, all accrued and unpaid interest is reversed. Nonaccrual loans are restored to accrual status when, based on a sustained period of repayment by the borrower in accordance with the contractual terms of the loan, First Commonwealth expects repayment of the remaining contractual principal and interest or when the loan otherwise becomes well-secured and in the process of collection.

First Commonwealth considers a loan to be a troubled debt restructured loan when the loan terms have been renegotiated to provide a reduction or deferral of principal or interest as a result of the financial difficulties experienced by the borrower, who could not obtain comparable terms from alternate financing sources. Troubled debt restructured loans are considered to be nonperforming loans.

A loan is considered to be nonperforming when, based on current information and events, it is expected that First Commonwealth will be unable to collect principal or interest that is due in accordance with contractual terms of the loan. Nonperforming loans include nonaccrual loans and troubled debt restructured loans. Expected losses on nonperforming loans are measured based on the present value of expected cash flows discounted at the loan’s effective interest rate or, as a practical expedient, at the loan’s observable market price or the fair value of the collateral if the loan is collateral dependent.

For loans other than those that First Commonwealth expects repayment through liquidation of the collateral, when the remaining recorded investment in the loan is less than or equal to the present value of the expected cash flows, income is applied as a reduction to loan principal rather than interest income.

Loans deemed uncollectible are charged off through the allowance for credit losses. Factors considered in assessing ultimate collectability include past due status, financial condition of the borrower, collateral values and debt covenants including secondary sources of repayment by guarantors. Payments received on previously charged off loans are recorded as recoveries in the allowance for credit losses.

Acquired loans are recorded at estimated fair value on the date of acquisition with no carryover of the related allowance for credit losses. The fair value of acquired loans is determined by estimating the principal and interest cash flows expected to be collected on the loans and discounting those cash flows at a market rate of interest. The estimated fair value considers factors such as loan term, internal risk rating, delinquency status, prepayment rates, estimated value of the underlying collateral and the current interest rate environment.

Loan Fees

Loan Fees

Loan origination and commitment fees, net of associated direct costs, are deferred and the net amount is amortized as an adjustment to the related loan yield on the interest method, generally over the contractual life of the related loans or commitments.

Other Real Estate Owned

Other Real Estate OwnedReal estate, other than bank premises, is recorded at fair value less estimated selling costs at the time of acquisition.   After that time, other real estate is carried at the lower of cost or fair value less estimated costs to sell. Fair value is determined based on an independent appraisal. Expenses related to holding the property and rental income earned on the property are generally reflected in earnings in the current period. Depreciation is not recorded on the other real estate owned properties.

Allowance for Credit Losses

Allowance for Credit Losses for Loans

On January 1, 2020, First Commonwealth adopted ASU 2016-13 Financial Instruments - Credit Losses ("Topic 326"), which replaces the incurred loss methodology for determining our allowance for credit losses and related provision for credit losses with an expected loss methodology that is referred to as the Current Expected Credit Loss ("CECL") model. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including our loans.

We adopted ASU 2016-13 using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet credit exposures and recognized a cumulative effect adjustment reducing retained earnings by $11.2 million, net of tax. First Commonwealth made the accounting policy election to exclude accrued interest from the allowance for credit loss calculation because these balances are written off or reversed when a loan is placed in non-accrual status.

In connection with our adoption of ASU 2016-13, we made changes to our loan portfolio segments, as compared to loan segments under the incurred model, to align with the methodology applied in determining the allowance under CECL. Refer to Note 8, " Loans and Allowance for Credit Losses" for further discussion of these portfolio segments.

Under CECL, the allowance for credit losses is calculated by pooling loans of similar credit risk characteristics and applying a discounted cash flow methodology after incorporating probability of default and loss given default estimates. Probability of default represents an estimate of the likelihood of default and loss given default measures the expected loss upon default. Inputs impacting the expected losses includes a forecast of macroeconomic factors, using a weighted forecast from a nationally recognized firm. Our model incorporates a one-year forecast of macroeconomic factors, after which the factors revert back to the historical mean over a one-year period.

Results for reporting periods beginning after January 1, 2020 are presented under ASU 2016-13 while prior period amounts continue to be reported in accordance with previously applicable GAAP.

Prior to January 1, 2020, the allowance for credit losses was estimated based on management's assessment of probable estimated losses. In addition to loan category, the major loan classifications used in the allowance for credit losses calculation include pass, other assets especially mentioned (“OAEM”), substandard and doubtful. Additional information related to these credit quality categories is provided in Note 8, "Loans and Allowance for Credit Losses." Under this incurred methodology, the allowance calculation uses net historical charge-off trends to estimate probable unconfirmed losses for each loan category.

A multiplier known as the emergence factor is applied to the historical loss rates for non-criticized loans. The emergence factor is calculated by loan category and represents the average time period from when a loss is incurred until the bank experiences a charge-off against the loan. Before applying the adjusted historical loss experience percentages, loan balances are reduced by the portion of the loan balances which are subject to guarantee by a government agency.

Under the incurred model, loans acquired with evidence of credit deterioration were evaluated and not considered to be significant. The premium or discount estimated through the loan fair value calculation is recognized in interest income on a level yield or straight-line basis over the remaining contractual life of the loans. Additional credit deterioration on acquired loans, in excess of the original credit discount embedded in the fair value determination on the date of acquisition, was recognized in the allowance for credit losses through the provision for loan losses.

As part of both CECL and the incurred methodology, all nonperforming credits, which includes nonaccrual loans and all troubled debt restructurings ("TDRs"), in excess of $250 thousand are individually evaluated on a quarterly basis. A specific reserve is established for individually evaluated loans in an amount equal to the total amount of estimated losses for the loans that are reviewed. Based on this reserve as a percentage of reviewed loan balances, a reserve is also established for the nonperforming loan balances that are not individually reviewed.

An additional component of the allowance is determined by management based on a qualitative analysis of certain factors related to portfolio risks that are not incorporated in the calculated model. Factors considered by management include lending practices, ability and experience of the credit staff, the overall lending environment and external factors such as the regulatory environment and competition. Portfolio risks include unusual changes or recent trends in specific portfolios such as unexpected changes in the trends or levels of delinquency. No matter how detailed an analysis of potential credit losses is performed, these

estimates are inherently imprecise. Management must make estimates using assumptions and information that is often subjective and changes rapidly.

Allowance for Off-Balance Sheet Credit Exposures

Allowance for Off-Balance Sheet Credit ExposuresFirst Commonwealth maintains an allowance for off-balance sheet credit exposure at a level deemed sufficient to absorb losses that are inherent to off-balance sheet credit risk. Off-balance sheet credit exposure includes commitments to extend credit, standby letters of credit and commercial letters of credit. The Company’s methodology for assessing the appropriateness of the allowance for off-balance sheet credit exposure consists of analysis of historical usage trends. The calculation begins with historical usage trends related to lines of credit as well as letters of credit and then utilizes those figures to determine the probable usage of available lines. These values are then adjusted by the expected loss percentage calculated for comparable loan categories as part of the allowance for credit losses for loans. This amount is adjusted quarterly and any change to the allowance is reported as part of provision expense on the Consolidated Statements of Income. The allowance for off-balance sheet credit exposures is reflected in "Other Liabilities" in the Consolidated Statements of Finance Condition.

Bank Owned Life Insurance

Bank Owned Life InsuranceFirst Commonwealth and the banks that First Commonwealth has acquired have purchased insurance on the lives of certain groups of employees. The policies accumulate asset values to meet future liabilities, including the payment of employee benefits such as health care. Increases in the cash surrender value are recorded as non-interest income in the Consolidated Statements of Income and cash receipts and disbursements are included in "Operating Activities" in the Consolidated Statements of Cash Flows. Under some of these policies, the beneficiaries receive a portion of the death benefit.

Premises and Equipment

Premises, Equipment and Lease Commitments

Premises and equipment are carried at cost less accumulated depreciation on First Commonwealth’s Consolidated Statements of Financial Condition. Depreciation is computed on the straight-line and accelerated methods over the estimated useful life of the asset. A straight-line depreciation method was used for substantially all furniture and equipment. The straight-line depreciation method was used for buildings and improvements. Charges for maintenance and repairs are expensed as incurred. Leasehold improvements are expensed over the term of the lease or the estimated useful life of the improvement, whichever is shorter.

Software costs are amortized on a straight-line basis over a period not to exceed 7 years

Goodwill

Goodwill

Intangible assets resulting from acquisitions under the purchase method of accounting consist of goodwill and other intangible assets (see “Other Intangible Assets” section below). Goodwill is not amortized and is subject to at least annual assessments for impairment. First Commonwealth reviews goodwill annually and again at any quarter-end if a material event occurs during the quarter that may affect goodwill. When circumstances indicate that it is more likely than not that fair value is less than carrying value, a triggering event has occurred and a quantitative impairment test is performed. Goodwill is evaluated for potential impairment by determining if our fair value has fallen below carrying value.

Other Intangible Assets

Other Intangible Assets

Other intangible assets consist of core deposits and customer lists obtained through acquisitions. Core deposit intangibles are amortized over their estimated lives using the present value of the benefit of the core deposits and straight-line methods of amortization. Customer list intangibles are amortized over the expected lives using expected cash flows based on retention of

the customer base. These intangibles are evaluated for impairment on an annual basis and when events or changes in circumstances indicate that the carrying amount may not be recoverable.

Accounting for the Impairment of Long-Lived Assets

Accounting for the Impairment of Long-Lived Assets

First Commonwealth reviews long-lived assets, such as premises and equipment and intangibles, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. These changes in circumstances may include a significant decrease in the market value of an asset or the extent or manner in which an asset is used. If there is an indication that the carrying amount of an asset may not be recoverable, future undiscounted cash flows expected to result from the use of the asset are estimated. If the sum of the expected cash flows is less than the carrying value of the asset, a loss is recognized for the difference between the carrying value and fair value of the asset. Long-lived assets classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. Depreciation or amortization is discontinued on long-lived assets classified as held for sale.

Income Taxes

Income TaxesFirst Commonwealth records taxes in accordance with the asset and liability method of FASB ASC Topic 740, “Income Taxes,” ("Topic 740") whereby deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amount of existing assets and liabilities and their respective tax bases given the provisions of the enacted tax laws. Deferred tax assets are reduced, if necessary, by the amount of such benefits that are more likely than not expected to be realized based upon available evidence. In accordance with Topic 740, interest or penalties incurred for taxes will be recorded as a component of noninterest expense.

Comprehensive Income Disclosures

Comprehensive Income Disclosures“Other Comprehensive Income” (comprehensive income, excluding net income) includes the after-tax effect of changes in unrealized holding gains and losses on available-for-sale securities, changes in the funded status of defined benefit postretirement plans and changes in the fair value of cash flow hedges. Comprehensive income is reported in the accompanying Consolidated Statements of Comprehensive Income, net of tax.

Cash and Cash Equivalents

Cash and Cash Equivalents

For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, federal funds sold and interest-bearing bank deposits. Generally, federal funds are sold for one-day periods.

Derivatives and Hedging Activities

Derivatives and Hedging Activities

First Commonwealth accounts for derivative instruments and hedging activities in accordance with FASB ASC Topic 815, “Derivatives and Hedging" ("Topic 815"). All derivatives are evaluated at inception as to whether or not they are hedging or non-hedging activities, and appropriate documentation is maintained to support the final determination. First Commonwealth recognizes all derivatives as either assets or liabilities on the Consolidated Statements of Financial Condition and measures those instruments at fair value. For derivatives designated as fair value hedges, changes in the fair value of the derivative and the hedged item related to the hedged risk are recognized in earnings. Any hedge ineffectiveness would be recognized in the income statement line item pertaining to the hedged item. For derivatives designated as cash flow hedges, changes in fair value of the effective portion of the cash flow hedges are reported in other comprehensive income ("OCI"). When the cash flows associated with the hedged item are realized, the gain or loss included in OCI is recognized in the Consolidated Statement of Income.

When First Commonwealth purchases a portion of a commercial loan that has an existing interest rate swap, it enters a Risk Participation Agreement with the counterparty and assumes the credit risk of the loan customer related to the swap. Any fee paid to First Commonwealth as a result of the risk participation agreement is offset by credit risk of the counterparties and is recognized in the income statement. Credit risk on the risk participation agreements is determined after considering the risk rating, probability of default and loss given default of the counterparties.

Management periodically reviews contracts from various functional areas of First Commonwealth to identify potential derivatives embedded within selected contracts. As of December 31, 2021, First Commonwealth has interest rate derivative positions that are designated as hedging instruments and others that are not designated as hedging instruments. See Note 6, “Derivatives,” for a description of these instruments.

Earnings Per Common Share

Earnings Per Common Share

Basic earnings per share excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding for the period.

Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. For all periods presented, the dilutive effect on average shares outstanding is the result of unvested restricted stock grants.

Fair Value Measurements

Fair Value Measurements

In accordance with FASB ASC Topic 820, “Fair Value Measurements and Disclosures" ("Topic 820"), First Commonwealth groups financial assets and financial liabilities measured at fair value into three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are:

•Level 1—Valuations for assets and liabilities traded in active exchange markets, such as the New York Stock Exchange ("NYSE"). Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities.

•Level 2—Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained for identical or comparable assets or liabilities from alternative pricing sources with reasonable levels of price transparency. Level 2 securities include U.S. Government securities issued by Agencies and Sponsored Enterprises, Obligations of States and Political Subdivisions, certain corporate securities, FHLB stock, loans held for sale, interest rate derivatives that include interest rate swaps, risk participation agreements and foreign currency contracts, certain other real estate owned and certain nonperforming loans.

•Level 3—Valuations for assets and liabilities that are derived from other valuation methodologies, including option pricing models, discounted cash flow models and similar techniques, and not based on market exchange, dealer or broker traded transactions. If the inputs used to provide the evaluation are unobservable and/or there is very little, if any, market activity for the security or similar securities, the securities would be considered Level 3 securities. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets or liabilities. The assets included in Level 3 are nonmarketable equity investments, certain other real estate owned and certain nonperforming loans.

In general, fair values of financial instruments are based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based upon pricing models that primarily use, as inputs, observable market-based parameters. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. These adjustments may include amounts to reflect counterparty credit quality and our creditworthiness, among other things, as well as unobservable parameters. Any such valuation adjustments are applied consistently over time. See Note 16 “Fair Values of Assets and Liabilities” for additional information.

Revenue from Contract with Customer [Policy Text Block]

Revenue from Contracts with Customers

First Commonwealth records revenue from contracts with customers in accordance with ASC Topic 606, “Revenue from Contracts with Customers” (“Topic 606”). Under Topic 606, the Company must identify the contract with a customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract, and recognize revenue when (or as) the Company satisfies a performance obligation.

A significant component of the Company's revenue, net interest earned on financial assets and liabilities, is excluded from the scope of Topic 606. First Commonwealth generally fully satisfies its performance obligations on its contracts with customers as services are rendered and the transaction prices are typically fixed; charged either on a periodic basis or based on activity. Because performance obligations are satisfied as services are rendered and the transaction prices are fixed, the Company has made no significant judgments in applying the revenue guidance prescribed in Topic 606 that affect the determination of the amount and timing of revenue from contracts with customers.

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Supplemental Comprehensive Income Disclosures (Tables)

12 Months Ended

Dec. 31, 2021

Supplemental Comprehensive Income Disclosures [Abstract]

Schedule of Amounts Recognized in Accumulated Other Comprehensive Income

The following table identifies the related tax effects allocated to each component of other comprehensive income in the Consolidated Statements of Comprehensive Income as of December 31. Reclassification adjustments related to securities available for sale are included in the “Net securities gains” line in the Consolidated Statements of Income.

	2021						2020						2019
	Pretax Amount		Tax (Expense) Benefit		Net of Tax Amount		Pretax Amount		Tax (Expense) Benefit		Net of Tax Amount		Pretax Amount		Tax (Expense) Benefit		Net of Tax Amount
	(dollars in thousands)
Unrealized gains (losses) on securities:
Unrealized holding (losses) gains on securities arising during the period	$	(29,892)	$	6,278	$	(23,614)	$	19,981	$	(4,196)	$	15,785	$	20,625	$	(4,331)	$	16,294
Reclassification adjustment for gains on securities included in net income	(16)		3		(13)		(70)		15		(55)		(22)		5		(17)
Total unrealized (losses) gains on securities	(29,908)		6,281		(23,627)		19,911		(4,181)		15,730		20,603		(4,326)		16,277
Unrealized gains (losses) on derivatives:
Unrealized holding (losses) gains on derivatives arising during the period	(3,356)		705		(2,651)		(4,467)		938		(3,529)		935		(196)		739
Total unrealized (losses) gains on derivatives	(3,356)		705		(2,651)		(4,467)		938		(3,529)		935		(196)		739
Unrealized gains (losses) for postretirement obligations:
Prior service cost	76		(16)		60		(537)		113		(424)		—		—		—
Net gain (loss)	275		(58)		217		(155)		32		(123)		(121)		25		(96)
Total unrealized gains (losses) for postretirement obligations	351		(74)		277		(692)		145		(547)		(121)		25		(96)
Total other comprehensive (loss) income	$	(32,913)	$	6,912	$	(26,001)	$	14,752	$	(3,098)	$	11,654	$	21,417	$	(4,497)	$	16,920

The following table sets forth the amounts recognized in accumulated other comprehensive income that have not yet been recognized as components of net periodic benefit costs as of December 31:

	2021		2020		2019
	(dollars in thousands)
Amounts recognized in accumulated other comprehensive income, net of tax:
Net (gain) loss	$	(461)	$	(243)	$	(366)
Prior service cost	364		424		—
Total	$	(97)	$	181	$	(366)

Related Tax Effects Allocated to Each Component of Other Comprehensive Income

The following table details the change in components of OCI for the year-ended December 31:

	2021
	Securities Available for Sale		Derivatives		Post-Retirement Obligation		Accumulated Other Comprehensive Income
	(dollars in thousands)
Balance at January 1	$	20,310	$	(2,895)	$	(182)	$	17,233
Other comprehensive loss before reclassification adjustment	(23,614)		(2,651)				(26,265)
Amounts reclassified from accumulated other comprehensive income (loss)	(13)		—				(13)
Prior service cost					60		60
Net gain					217		217
Net other comprehensive loss during the period	(23,627)		(2,651)		277		(26,001)
Balance at December 31	$	(3,317)	$	(5,546)	$	95	$	(8,768)
	2020
	Securities Available for Sale		Derivatives		Post-Retirement Obligation		Accumulated Other Comprehensive Income
	(dollars in thousands)
Balance at January 1	$	4,580	$	634	$	365	$	5,579
Other comprehensive income before reclassification adjustment	15,785		(3,529)				12,256
Amounts reclassified from accumulated other comprehensive income (loss)	(55)		—				(55)
Net gain					(123)		(123)
Net other comprehensive income during the period	15,730		(3,529)		(547)		11,654
Balance at December 31	$	20,310	$	(2,895)	$	(182)	$	17,233
	2019
	Securities Available for Sale		Derivatives		Post-Retirement Obligation		Accumulated Other Comprehensive Income
	(dollars in thousands)
Balance at January 1	$	(11,697)	$	(105)	$	461	$	(11,341)
Other comprehensive income before reclassification adjustment	16,294		739				17,033
Amounts reclassified from accumulated other comprehensive income (loss)	(17)		—				(17)
Net gain					(96)		(96)
Net other comprehensive income during the period	16,277		739		(96)		16,920
Balance at December 31	$	4,580	$	634	$	365	$	5,579

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Supplemental Cash Flow Disclosures (Tables)

12 Months Ended

Dec. 31, 2021

Supplemental Cash Flow Information [Abstract]

Non-cash Investing and Financing Activities

The following table presents information related to cash paid during the year for interest and income taxes as well as detail on non-cash investing and financing activities for the years ended December 31:

	2021		2020		2019
	(dollars in thousands)
Cash paid during the period for:
Interest	$	15,624	$	33,964	$	56,005
Income taxes	22,374		25,914		21,787
Non-cash investing and financing activities:
Loans transferred to other real estate owned and repossessed assets	3,163		3,865		4,723
Fair value of loans transferred from held to maturity to held for sale	73,697		37,305		30,359
Loans transferred from held for sale to held to maturity	—		4,335		482
Gross (decrease) increase in market value adjustment to securities available for sale	(29,908)		19,911		20,604
Gross (decrease) increase in market value adjustment to derivatives	(3,356)		(4,467)		935
Investments committed to purchase, not settled	—		(34,185)		25,484
Increase in limited partnership investment unfunded commitment	7,565		—		1,469
Net assets (liabilities) acquired through acquisition	—		—		(361,595)
Proceeds from death benefit on bank-owned life insurance not received	—		(384)		484
Treasury shares issued	2,042		1,594		2,531

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Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Composition of Weighted-Average Common Shares (Denominator) Used in Basic and Diluted Earnings Per Share

The following table summarizes the composition of the weighted-average common shares (denominator) used in the basic and diluted earnings per share computation for the years ending December 31:

	2021		2020		2019
Weighted average common shares issued	113,914,902		113,914,902		113,914,902
Average treasury shares	(18,140,857)		(16,254,304)		(15,447,299)
Average deferred compensation shares	(55,590)		(42,751)		(37,496)
Average unearned nonvested shares	(134,565)		(118,261)		(112,320)
Weighted average common shares and common stock equivalents used to calculate basic earnings per share	95,583,890		97,499,586		98,317,787
Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share	200,712		203,836		231,957
Additional common stock equivalents (deferred compensation) used to calculated diluted earnings per share	55,683		55,543		38,420
Weighted average common shares and common stock equivalents used to calculate diluted earnings per share	95,840,285		97,758,965		98,588,164
Per Share Data
Basic Earnings Per Share	$	1.45	$	0.75	$	1.07
Diluted Earnings Per Share	$	1.44	$	0.75	$	1.07

Common Stock Equivalents Not Included in Computation of Diluted Earnings Per Share

The following table shows the number of shares and the price per share related to common stock equivalents that were not included in the computation of diluted earnings per share for the years ended December 31, because to do so would have been anti-dilutive.

	12/31/2021					12/31/2020					12/31/2019
		Price Range					Price Range					Price Range
	Shares	From		To		Shares	From		To		Shares	From		To
Restricted Stock	99,344	$	12.77	$	15.96	92,499	$	13.72	$	15.44	81,730	$	12.99	$	15.44
Restricted Stock Units	—	$	—	$	—	106,931	$	12.43	$	15.37	26,217	$	16.62	$	16.62

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Derivatives (Tables)

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Credit Value Adjustment Recorded Related to Notional Amount of Derivatives Outstanding

The following table depicts the credit value adjustment recorded relative to the notional amount of derivatives outstanding as well as the notional amount of risk participation agreements participated to other banks at December 31:

	2021		2020
	(dollars in thousands)
Derivatives not Designated as Hedging Instruments
Credit value adjustment	$	(395)	$	(2,792)
Notional Amount:
Interest rate derivatives	708,759		631,446
Interest rate caps	66,007		66,527
Interest rate collars	35,354		35,354
Risk participation agreements	241,111		220,280
Sold credit protection on risk participation agreements	(95,618)		(78,522)
Interest rate options	29,691		47,874
Derivatives Designated as Hedging Instruments
Interest rate swaps:
Fair value adjustment	(7,022)		(3,665)
Notional Amount	570,000		70,000
Interest rate forwards:
Fair value adjustment	(29)		(483)
Notional Amount	38,000		65,000
Foreign exchange forwards:
Fair value adjustment	12		(5)
Notional Amount	1,982		2,119

Schedule of Change in Fair Value of Derivative Assets and Liabilities

The table below presents the amount representing the change in the fair value of derivative assets and derivative liabilities attributable to credit risk included in “Other income” on the Consolidated Statements of Income for the years ended December 31:

	2021		2020		2019
	(dollars in thousands)
Non-hedging interest rate derivatives:
Increase (decrease) in other income	$	728	$	(981)	$	(269)
Decrease in other expense	—		—		(352)
Hedging interest rate derivatives:
Increase (decrease) in interest and fees on loans	1,567		—		(118)
Increase (decrease) in interest from subordinated debentures	959		449		(159)
Increase in other expense	—		—		7
Hedging interest rate forwards:
(Decrease) increase in other income	(454)		420		106
Increase in other expense	—		—		—
Hedging interest rate derivatives:
Increase in other expense	11		18		5

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Investment Securities (Tables)

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Cumulative Roll Forward of Credit Losses Recognized in Earnings for Debt Securities Held and Not Intended to be Sold

There was no expected credit related impairment recognized on investment securities during the twelve months ended December 31, 2021 and 2020. Prior to 2020, investment securities were evaluated for other-than-temporary impairment.

Held-to-maturity Securities

Below is an analysis of the amortized cost and fair values of debt securities held to maturity at December 31:

	2021								2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities – Residential	$	2,409	$	101	$	—	$	2,510	$	2,766	$	138	$	—	$	2,904
Mortgage-Backed Securities – Commercial	91,439		305		(1,939)		89,805		36,799		1,441		—		38,240
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities – Residential	387,848		2,800		(5,758)		384,890		277,351		5,389		(10)		282,730
Mortgage-Backed Securities – Commercial	7,309		148		—		7,457		9,737		344		—		10,081
Other Government-Sponsored Enterprises	21,904		—		(625)		21,279		—		—		—		—
Obligations of States and Political Subdivisions	29,402		414		(103)		29,713		34,391		705		—		35,096
Debt Securities Issued by Foreign Governments	1,000		—		(3)		997		800		—		—		800
Total Securities Held to Maturity	$	541,311	$	3,768	$	(8,428)	$	536,651	$	361,844	$	8,017	$	(10)	$	369,851

Analysis of Amortized Cost and Estimated Fair Values of Securities Available for Sale

Below is an analysis of the amortized cost and fair values of securities available for sale at December 31:

	2021								2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities – Residential	$	5,242	$	420	$	—	$	5,662	$	6,492	$	738	$	—	$	7,230
Mortgage-Backed Securities – Commercial	365,024		1,725		(4,459)		362,290		182,823		8,357		—		191,180
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities – Residential	632,687		6,308		(9,021)		629,974		481,109		14,924		—		496,033
Other Government-Sponsored Enterprises	1,000		—		(19)		981		100,996		2		—		100,998
Obligations of States and Political Subdivisions	9,538		89		(103)		9,524		11,154		243		—		11,397
Corporate Securities	32,088		973		(112)		32,949		22,941		1,444		—		24,385
Total Securities Available for Sale	$	1,045,579	$	9,515	$	(13,714)	$	1,041,380	$	805,515	$	25,708	$	—	$	831,223

The amortized cost and estimated fair value of debt securities available for sale at December 31, 2021, by contractual maturity, are shown below:

	Amortized Cost		Estimated Fair Value
	(dollars in thousands)
Due within 1 year	$	—	$	—
Due after 1 but within 5 years	13,874		14,334
Due after 5 but within 10 years	28,752		29,120
Due after 10 years	—		—
	42,626		43,454
Mortgage-Backed Securities (a)	1,002,953		997,926
Total Debt Securities	$	1,045,579	$	1,041,380

(a)Mortgage Backed Securities include an amortized cost of $370.3 million and a fair value of $368.0 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $632.7 million and a fair value of $630.0 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac.

Proceeds from Sale, Gross Gains (Losses) Realized on Sales, Maturities and Other-Than-Temporary Impairment Charges Related to Securities Available for Sale

Mortgage Backed Securities include an amortized cost of $370.3 million and a fair value of $368.0 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $632.7 million and a fair value of $630.0 million

Investments Classified by Contractual Maturity Date

The amortized cost and estimated fair value of debt securities held to maturity at December 31, 2021, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties.

	Amortized Cost		Estimated Fair Value
	(dollars in thousands)
Due within 1 year	$	908	$	918
Due after 1 but within 5 years	7,610		7,653
Due after 5 but within 10 years	43,226		42,846
Due after 10 years	562		572
	52,306		51,989
Mortgage-Backed Securities (a)	489,005		484,662
Total Debt Securities	$	541,311	$	536,651

(a)Mortgage Backed Securities include an amortized cost of $93.8 million and a fair value of $92.3 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $395.2 million and a fair value of $392.3 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac.

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The following table presents the gross unrealized losses and estimated fair values at December 31, 2021 for available for sale securities for which an allowance for credit losses has not been recorded and held to maturity securities by investment category and time frame for which the securities have been in a continuous unrealized loss position:

	Less Than 12 Months				12 Months or More				Total
	Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses
	(dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities – Commercial	$	320,414	$	(6,398)	$	—	$	—	$	320,414	$	(6,398)
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities – Residential	658,965		(14,779)		—		—		658,965		(14,779)
Other Government-Sponsored Enterprises	22,261		(644)		—		—		22,261		(644)
Obligations of States and Political Subdivisions	11,213		(206)		—		—		11,213		(206)
Debt Securities Issued by Foreign Governments	997		(3)		—		—		997		(3)
Corporate Securities	19,013		(112)		—		—		19,013		(112)
Total Securities	$	1,032,863	$	(22,142)	$	—	$	—	$	1,032,863	$	(22,142)

The following table presents the gross unrealized losses and estimated fair value at December 31, 2020 for both available for sale and held to maturity securities by investment category and time frame for which the securities had been in a continuous unrealized loss position: 

	Less Than 12 Months				12 Months or More				Total
	Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses
	(dollars in thousands)
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities – Residential	$	3,755	$	(10)	$	—	$	—	$	3,755	$	(10)
Total Securities	$	3,755	$	(10)	$	—	$	—	$	3,755	$	(10)

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Loans and Allowance for Credit Losses (Tables)

12 Months Ended

Dec. 31, 2021

Loans and Leases Receivable Disclosure [Abstract]

Outstanding Balances of Loan

The following table provides outstanding balances related to each of our loan types as of December 31:

	2021		2020
	(dollars in thousands)
Commercial, financial, agricultural and other	$	1,173,452	$	1,555,986
Time and demand	1,159,524		1,541,382
Commercial credit cards	13,928		14,604
Real estate construction	494,456		427,221
Residential real estate	1,920,250		1,750,592
Residential first lien	1,299,534		1,144,323
Residential junior lien/home equity	620,716		606,269
Commercial real estate	2,251,097		2,211,569
Multifamily	385,432		371,239
Nonowner occupied	1,465,247		1,421,151
Owner occupied	400,418		419,179
Loans to individuals	999,975		815,815
Automobile	901,280		712,800
Consumer credit cards	11,151		12,360
Consumer other	87,544		90,655
Total loans	$	6,839,230	$	6,761,183

Credit Risk Profile by Creditworthiness

The following tables represent our credit risk profile by creditworthiness category for the years ended December 31:

	2021
			Non-Pass
	Pass		OAEM		Substandard		Doubtful		Loss		Total Non-Pass		Total
	(dollars in thousands)
Commercial, financial, agricultural and other	$	1,121,234	$	33,765	$	18,453	$	—	$	—	$	52,218	$	1,173,452
Time and demand	1,107,306		33,765		18,453		—		—		52,218		1,159,524
Commercial credit cards	13,928		—		—		—		—		—		13,928
Real estate construction	493,913		498		45		—		—		543		494,456
Residential real estate	1,913,064		976		6,210		—		—		7,186		1,920,250
Residential first lien	1,295,524		905		3,105		—		—		4,010		1,299,534
Residential junior lien/home equity	617,540		71		3,105		—		—		3,176		620,716
Commercial real estate	2,113,123		85,324		52,650		—		—		137,974		2,251,097
Multifamily	355,702		14,565		15,165		—		—		29,730		385,432
Nonowner occupied	1,368,922		63,783		32,542		—		—		96,325		1,465,247
Owner occupied	388,499		6,976		4,943		—		—		11,919		400,418
Loans to individuals	999,770		—		205		—		—		205		999,975
Automobile	901,132		—		148		—		—		148		901,280
Consumer credit cards	11,151		—		—		—		—		—		11,151
Consumer other	87,487		—		57		—		—		57		87,544
Total	$	6,641,104	$	120,563	$	77,563	$	—	$	—	$	198,126	$	6,839,230

	2020
			Non-Pass
	Pass		OAEM		Substandard		Doubtful		Loss		Total Non-Pass		Total
	(dollars in thousands)
Commercial, financial, agricultural and other	$	1,491,916	$	48,233	$	15,837	$	—	$	—	$	64,070	$	1,555,986
Time and demand	1,477,312		48,233		15,837		—		—		64,070		1,541,382
Commercial credit cards	14,604		—		—		—		—		—		14,604
Real estate construction	426,663		504		54		—		—		558		427,221
Residential real estate	1,740,992		1,902		7,698		—		—		9,600		1,750,592
Residential first lien	1,138,409		1,780		4,134		—		—		5,914		1,144,323
Residential junior lien/home equity	602,583		122		3,564		—		—		3,686		606,269
Commercial real estate	1,983,258		175,995		52,316		—		—		228,311		2,211,569
Multifamily	369,883		131		1,225		—		—		1,356		371,239
Nonowner occupied	1,216,252		161,336		43,563		—		—		204,899		1,421,151
Owner occupied	397,123		14,528		7,528		—		—		22,056		419,179
Loans to individuals	815,541		—		274		—		—		274		815,815
Automobile	712,539		—		261		—		—		261		712,800
Consumer credit cards	12,360		—		—		—		—		—		12,360
Consumer other	90,642		—		13		—		—		13		90,655
Total	$	6,458,370	$	226,634	$	76,179	$	—	$	—	$	302,813	$	6,761,183

The following table summarizes the loan risk rating category by loan type including term loans on an amortized cost basis by origination year as of December 31:

	2021
	Term Loans												Revolving Loans
	2021		2020		2019		2018		2017		Prior				Total
	(dollars in thousands)
Time and demand	$	281,244	$	126,403	$	143,030	$	91,118	$	45,442	$	111,127	$	361,160	$	1,159,524
Pass	280,854		125,728		128,080		83,204		31,472		102,399		355,569		1,107,306
OAEM	390		596		1,125		7,780		13,945		7,126		2,803		33,765
Substandard	—		79		13,825		134		25		1,602		2,788		18,453
Commercial credit cards	—		—		—		—		—		—		13,928		13,928
Pass	—		—		—		—		—		—		13,928		13,928
Real estate construction	202,016		129,298		123,153		38,267		441		841		440		494,456
Pass	201,992		128,824		123,153		38,267		441		796		440		493,913
OAEM	24		474		—		—		—		—		—		498
Substandard	—		—		—		—		—		45		—		45
Residential first lien	376,106		375,904		126,788		84,484		74,268		260,010		1,974		1,299,534
Pass	376,095		375,885		126,618		84,079		74,135		256,815		1,897		1,295,524
OAEM	—		—		—		67		—		761		77		905
Substandard	11		19		170		338		133		2,434		—		3,105
Residential junior lien/home equity	56,861		1,999		3,322		2,684		1,009		5,348		549,493		620,716
Pass	56,861		1,999		3,246		2,684		1,009		5,195		546,546		617,540
OAEM	—		—		—		—		—		61		10		71
Substandard	—		—		76		—		—		92		2,937		3,105
Multifamily	90,062		73,068		16,782		36,523		63,872		103,774		1,351		385,432
Pass	90,062		73,068		16,782		21,846		49,832		102,761		1,351		355,702
OAEM	—		—		—		—		14,040		525		—		14,565
Substandard	—		—		—		14,677		—		488		—		15,165
Nonowner occupied	194,137		98,840		202,236		173,053		177,295		615,943		3,743		1,465,247
Pass	194,137		98,840		202,236		155,293		152,174		563,743		2,499		1,368,922
OAEM	—		—		—		3,723		19,235		39,737		1,088		63,783
Substandard	—		—		—		14,037		5,886		12,463		156		32,542
Owner occupied	77,710		62,380		53,954		34,115		32,989		134,713		4,557		400,418
Pass	77,710		59,973		51,513		33,623		31,644		129,593		4,443		388,499
OAEM	—		2,194		1,220		492		1,321		1,716		33		6,976
Substandard	—		213		1,221		—		24		3,404		81		4,943
Automobile	456,730		252,518		122,943		48,375		17,230		3,484		—		901,280
Pass	456,730		252,518		122,867		48,361		17,224		3,432		—		901,132
Substandard	—		—		76		14		6		52		—		148
Consumer credit cards	—		—		—		—		—		—		11,151		11,151
Pass	—		—		—		—		—		—		11,151		11,151
Consumer other	22,156		4,655		8,030		5,084		542		5,503		41,574		87,544
Pass	22,156		4,655		8,030		5,084		542		5,460		41,560		87,487
Substandard	—		—		—		—		—		43		14		57
Total	$	1,757,022	$	1,125,065	$	800,238	$	513,703	$	413,088	$	1,240,743	$	989,371	$	6,839,230

	2020
	Term Loans												Revolving Loans
	2020		2019		2018		2017		2016		Prior				Total
	(dollars in thousands)
Time and demand	$	598,053	$	193,601	$	142,224	$	72,277	$	74,228	$	83,313	$	377,686	$	1,541,382
Pass	597,405		189,834		140,473		63,137		68,007		65,418		353,038		1,477,312
OAEM	93		3,373		972		8,820		6,182		8,043		20,750		48,233
Substandard	555		394		779		320		39		9,852		3,898		15,837
Commercial credit cards	—		—		—		—		—		—		14,604		14,604
Pass	—		—		—		—		—		—		14,604		14,604
Real estate construction	150,493		133,195		104,167		34,803		389		1,009		3,165		427,221
Pass	150,493		133,195		104,167		34,803		389		709		2,907		426,663
OAEM	—		—		—		—		—		246		258		504
Substandard	—		—		—		—		—		54		—		54
Residential first lien	316,052		184,550		142,823		110,365		91,495		297,057		1,981		1,144,323
Pass	316,028		184,533		142,467		110,260		91,059		292,158		1,904		1,138,409
OAEM	—		—		83		—		100		1,520		77		1,780
Substandard	24		17		273		105		336		3,379		—		4,134
Residential junior lien/home equity	3,055		5,783		4,545		2,005		1,303		7,127		582,451		606,269
Pass	3,055		5,698		4,545		2,005		1,303		6,909		579,068		602,583
OAEM	—		—		—		—		—		112		10		122
Substandard	—		85		—		—		—		106		3,373		3,564
Multifamily	76,249		16,287		69,439		66,963		34,383		106,328		1,590		371,239
Pass	76,249		16,287		69,439		66,963		34,383		104,972		1,590		369,883
OAEM	—		—		—		—		—		131		—		131
Substandard	—		—		—		—		—		1,225		—		1,225
Nonowner occupied	105,861		199,280		161,018		214,915		217,883		518,052		4,142		1,421,151
Pass	105,861		190,301		139,643		181,659		175,148		419,900		3,740		1,216,252
OAEM	—		8,979		21,375		26,339		37,762		66,752		129		161,336
Substandard	—		—		—		6,917		4,973		31,400		273		43,563
Owner occupied	59,519		72,313		61,079		40,796		27,415		152,555		5,502		419,179
Pass	58,551		70,726		55,478		39,351		26,359		141,376		5,282		397,123
OAEM	968		684		4,736		1,421		114		6,572		33		14,528
Substandard	—		903		865		24		942		4,607		187		7,528
Automobile	350,293		202,923		96,355		45,218		14,285		3,726		—		712,800
Pass	350,293		202,827		96,336		45,187		14,255		3,641		—		712,539
Substandard	—		96		19		31		30		85		—		261
Consumer credit cards	—		—		—		—		—		—		12,360		12,360
Pass	—		—		—		—		—		—		12,360		12,360
Consumer other	7,814		14,464		10,752		1,965		711		6,383		48,566		90,655
Pass	7,814		14,464		10,752		1,965		711		6,373		48,563		90,642
Substandard	—		—		—		—		—		10		3		13
Total	$	1,667,389	$	1,022,396	$	792,402	$	589,307	$	462,092	$	1,175,550	$	1,052,047	$	6,761,183

Age Analysis of Past Due Loans by Segment

The following tables delineate the aging analysis of the recorded investments in past due loans as of December 31. Also included in these tables are loans that are 90 days or more past due and still accruing because they are well-secured and in the process of collection.

	2021
	30 - 59 days past due		60 - 89 days past due		90 days and greater and still accruing		Nonaccrual		Total past due and nonaccrual		Current		Total
	(dollars in thousands)
Commercial, financial, agricultural and other	$	633	$	987	$	155	$	2,006	$	3,781	$	1,169,671	$	1,173,452
Time and demand	605		972		144		2,006		3,727		1,155,797		1,159,524
Commercial credit cards	28		15		11		—		54		13,874		13,928
Real estate construction	813		—		448		45		1,306		493,150		494,456
Residential real estate	3,393		983		218		5,608		10,202		1,910,048		1,920,250
Residential first lien	1,934		354		51		2,706		5,045		1,294,489		1,299,534
Residential junior lien/home equity	1,459		629		167		2,902		5,157		615,559		620,716
Commercial real estate	—		74		—		40,195		40,269		2,210,828		2,251,097
Multifamily	—		—		—		15,097		15,097		370,335		385,432
Nonowner occupied	—		—		—		23,930		23,930		1,441,317		1,465,247
Owner occupied	—		74		—		1,168		1,242		399,176		400,418
Loans to individuals	1,611		417		785		206		3,019		996,956		999,975
Automobile	1,228		175		199		148		1,750		899,530		901,280
Consumer credit cards	36		44		63		—		143		11,008		11,151
Consumer other	347		198		523		58		1,126		86,418		87,544
Total	$	6,450	$	2,461	$	1,606	$	48,060	$	58,577	$	6,780,653	$	6,839,230

	2020
	30 - 59 days past due		60 - 89 days past due		90 days and greater and still accruing		Nonaccrual		Total past due and nonaccrual		Current		Total
	(dollars in thousands)
Commercial, financial, agricultural and other	$	146	$	62	$	112	$	3,317	$	3,637	$	1,552,349	$	1,555,986
Time and demand	97		28		23		3,317		3,465		1,537,917		1,541,382
Commercial credit cards	49		34		89		—		172		14,432		14,604
Real estate construction	936		—		—		54		990		426,231		427,221
Residential real estate	3,883		1,492		769		6,824		12,968		1,737,624		1,750,592
Residential first lien	1,775		660		267		3,489		6,191		1,138,132		1,144,323
Residential junior lien/home equity	2,108		832		502		3,335		6,777		599,492		606,269
Commercial real estate	237		160		3		35,072		35,472		2,176,097		2,211,569
Multifamily	—		—		—		460		460		370,779		371,239
Nonowner occupied	18		104		—		31,822		31,944		1,389,207		1,421,151
Owner occupied	219		56		3		2,790		3,068		416,111		419,179
Loans to individuals	2,870		852		639		274		4,635		811,180		815,815
Automobile	2,090		417		94		261		2,862		709,938		712,800
Consumer credit cards	52		39		123		—		214		12,146		12,360
Consumer other	728		396		422		13		1,559		89,096		90,655
Total	$	8,072	$	2,566	$	1,523	$	45,541	$	57,702	$	6,703,481	$	6,761,183

Recorded Investment and Unpaid Principal Balance for Impaired Loans with Associated Allowance

The following tables include the recorded investment and unpaid principal balance for nonperforming loans with the associated allowance amount, if applicable, as of December 31, 2021 and 2020. Also presented are the average recorded investment in nonperforming loans and the related amount of interest recognized while the loan was considered nonperforming for the years ended December 31, 2021, 2020 and 2019. Average balances are calculated based on month-end balances of the loans for the period reported and are included in the table below based on its period end allowance position.

	2021
	Recorded investment		Unpaid principal balance		Related specific allowance		Average recorded investment		Interest Income Recognized
	(dollars in thousands)
With no related specific allowance recorded:
Commercial, financial, agricultural and other	$	3,720	$	10,303			$	9,240	$	389
Time and demand	3,720		10,303				9,240		389
Real estate construction	45		53				53		—
Residential real estate	9,365		11,294				10,315		375
Residential first lien	5,200		6,337				5,674		279
Residential junior lien/home equity	4,165		4,957				4,641		96
Commercial real estate	40,591		41,525				26,235		119
Multifamily	14,677		14,677				1,223		—
Nonowner occupied	24,581		25,310				22,668		28
Owner occupied	1,333		1,538				2,344		91
Loans to individuals	446		485				479		15
Automobile	388		422				425		15
Consumer other	58		63				54		—
Subtotal	54,167		63,660				46,322		898
With a specific allowance recorded:
Commercial, financial, agricultural and other	327		349		307		84		—
Time and demand	327		349		307		84		—
Real estate construction	—		—		—		—		—
Residential real estate	—		—		—		—		—
Residential first lien	—		—		—		—		—
Residential junior lien/home equity	—		—		—		—		—
Commercial real estate	686		711		88		665		—
Multifamily	421		446		88		444		—
Nonowner occupied	—		—		—		—		—
Owner occupied	265		265		—		221		—
Loans to individuals	—		—		—		—		—
Automobile	—		—		—		—		—
Consumer other	—		—		—		—		—
Subtotal	1,013		1,060		395		749		—
Total	$	55,180	$	64,720	$	395	$	47,071	$	898

	2020
	Recorded investment		Unpaid principal balance		Related specific allowance		Average recorded investment		Interest Income Recognized
	(dollars in thousands)
With no related specific allowance recorded:
Commercial, financial, agricultural and other	$	2,025	$	2,725			$	6,371	$	80
Time and demand	2,025		2,725				6,371		80
Real estate construction	54		53				146		14
Residential real estate	10,939		13,258				11,913		335
Residential first lien	6,062		7,575				6,605		241
Residential junior lien/home equity	4,877		5,683				5,308		94
Commercial real estate	20,650		23,641				22,287		184
Multifamily	1		82				1		—
Nonowner occupied	16,786		19,459				18,536		82
Owner occupied	3,863		4,100				3,750		102
Loans to individuals	418		447				470		13
Automobile	405		430				447		13
Consumer other	13		17				23		—
Subtotal	34,086		40,124				41,187		626
With a specific allowance recorded:
Commercial, financial, agricultural and other	4,210		9,377		1,268		1,544		3
Time and demand	4,210		9,377		1,268		1,544		3
Real estate construction	—		—		—		—		—
Residential real estate	—		—		—		—		—
Residential first lien	—		—		—		—		—
Residential junior lien/home equity	—		—		—		—		—
Commercial real estate	15,757		15,830		3,638		7,997		10
Multifamily	459		470		116		395		—
Nonowner occupied	15,060		15,122		3,508		7,363		—
Owner occupied	238		238		14		239		10
Loans to individuals	—		—		—		—		—
Automobile	—		—		—		—		—
Consumer other	—		—		—		—		—
Subtotal	19,967		25,207		4,906		9,541		13
Total	$	54,053	$	65,331	$	4,906	$	50,728	$	639

	2019
	Originated				Acquired
	Average recorded investment		Interest Income Recognized		Average recorded investment		Interest Income Recognized
	(dollars in thousands)
With no related specific allowance recorded:
Commercial, financial, agricultural and other	$	2,411	$	66	$	2,479	$	—
Real estate construction	—		—		—		—
Residential real estate	10,819		365		1,986		8
Commercial real estate	7,455		156		747		18
Loans to individuals	371		17		13		—
Subtotal	21,056		604		5,225		26
With a specific allowance recorded:
Commercial, financial, agricultural and other	4,110		77		—		—
Real estate construction	—		—		—		—
Residential real estate	241		—		—		—
Commercial real estate	1,747		3		—		—
Loans to individuals	—		—		—		—
Subtotal	6,098		80		—		—
Total	$	27,154	$	684	$	5,225	$	26

Troubled Debt Restructured Loans and Commitments

The following table provides detail as to the total troubled debt restructured loans and total commitments outstanding on troubled debt restructured loans as of December 31:

	2021		2020		2019
	(dollars in thousands)
Troubled debt restructured loans
Accrual status	$	7,120	$	8,512	$	7,542
Nonaccrual status	13,134		14,740		6,037
Total	$	20,254	$	23,252	$	13,579
Commitments
Letters of credit	$	60	$	60	$	60
Unused lines of credit	16		11		163
Total	$	76	$	71	$	223

The following table provides information related to loans that were restructured within the past twelve months and that were considered to be in default during the year ending December 31:

	2021			2020			2019
	Number of Contracts	Recorded Investment		Number of Contracts	Recorded Investment		Number of Contracts	Recorded Investment
	(dollars in thousands)
Commercial, financial, agricultural and other	1	$	223	—	$	—	—	$	—
Time and demand	1	223		—	—
Residential real estate	—	$	—	1	34		—	—
Residential junior lien/home equity	—	—		1	34
Loans to individuals	1	21		2	74		—	—
Automobile	1	21		2	74
Total	2	$	244	3	$	108	—	$	—

Troubled Debt Restructurings is 90 Days or More Past Due

The following tables provide detail, including specific reserve and reasons for modification, related to loans identified as troubled debt restructurings during the years ending December 31:

	2021
		Type of Modification
	Number of Contracts	Extend Maturity		Modify Rate		Modify Payments		Total Pre-Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Specific Reserve
	(dollars in thousands)
Commercial, financial, agricultural and other	6	$	—	$	—	$	7,893	$	7,893	$	288	$	—
Time and demand	6	—		—		7,893		7,893		288		—
Residential real estate	15	—		359		301		660		624		—
Residential first lien	12	—		359		171		530		502		—
Residential junior lien/home equity	3	—		—		130		130		122		—
Commercial real estate	2	—		—		644		644		634		—
Nonowner occupied	2	—		—		644		644		634		—
Owner occupied	—	—		—		—		—		—		—
Loans to individuals	7	—		110		63		173		144		—
Automobile	7	$	—	$	110	$	63	173		$	144	$	—
Total	30	$	—	$	469	$	8,901	$	9,370	$	1,690	$	—

	2020
		Type of Modification
	Number of Contracts	Extend Maturity		Modify Rate		Modify Payments		Total Pre-Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Specific Reserve
	(dollars in thousands)
Commercial, financial, agricultural and other	4	$	—	$	629	$	2,176	$	2,805	$	2,196	$	636
Time and demand	4	—		629		2,176		2,805		2,196		636
Residential real estate	18	—		33		917		950		791		—
Residential first lien	9	—		33		513		546		411		—
Residential junior lien/home equity	9	—		—		404		404		380		—
Commercial real estate	5	—		—		10,857		10,857		10,758		—
Nonowner occupied	4	—		—		10,289		10,289		10,263		—
Owner occupied	1	—		—		568		568		495		—
Loans to individuals	14	—		114		148		262		224		—
Automobile	14	$	—	$	114	$	148	$	262	224		$	—
Total	41	$	—	$	776	$	14,098	$	14,874	$	13,969	$	636

	2019
		Type of Modification
	Number of Contracts	Extend Maturity		Modify Rate		Modify Payments		Total Pre-Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Specific Reserve
	(dollars in thousands)
Commercial, financial, agricultural and other	2	$	—	$	—	$	156	$	156	$	154	$	—
Residential real estate	20	17		204		965		1,186		1,059		—
Commercial real estate	5	—		556		6,261		6,817		594		—
Loans to individuals	11	—		—		143		143		121		—
Total	38	$	17	$	760	$	7,525	$	8,302	$	1,928	$	—

Allowance for Credit Losses

The following tables provide detail related to the allowance for credit losses for the years ended December 31.

	2021
	Beginning balance		Charge-offs		Recoveries		Provision (credit)a		Ending balance
	(dollars in thousands)
Commercial, financial, agricultural and other	$	17,187	$	(7,020)	$	2,430	$	5,496	$	18,093
Time and demand	16,838		(6,845)		2,412		5,441		17,846
Commercial credit cards	349		(175)		18		55		247
Real estate construction	7,966		(9)		155		(3,892)		4,220
Residential real estate	14,358		(309)		468		(1,892)		12,625
Residential first liens	7,919		(60)		337		(737)		7,459
Residential junior liens/home equity	6,439		(249)		131		(1,155)		5,166
Commercial real estate	41,953		(1,659)		135		(7,053)		33,376
Multifamily	6,240		(1)		—		(2,678)		3,561
Nownowner occupied	28,414		(1,556)		125		(2,145)		24,838
Owner occupied	7,299		(102)		10		(2,230)		4,977
Loans to individuals	19,845		(4,061)		1,460		6,964		24,208
Automobile	16,133		(1,792)		1,016		6,035		21,392
Consumer credit cards	635		(425)		71		215		496
Consumer other	3,077		(1,844)		373		714		2,320
Total	$	101,309	$	(13,058)	$	4,648	$	(377)	$	92,522

a) The provision (credit) shown here excludes the provision for off-balance sheet credit exposure included in the income statement.

	December 31, 2021
							Loans
	Ending balance		Ending balance: individually evaluated for credit losses		Ending balance: collectively evaluated for credit losses		Ending balance		Ending balance: individually evaluated for credit losses		Ending balance: collectively evaluated for credit losses
	(dollars in thousands)
Commercial, financial, agricultural and other	$	18,093	$	307	$	17,786	$	1,173,452	$	3,032	$	1,170,420
Time and demand	17,846		307		17,539		1,159,524		3,032		1,156,492
Commercial credit cards	247		—		247		13,928		—		13,928
Real estate construction	4,220		—		4,220		494,456		—		494,456
Residential real estate	12,625		—		12,625		1,920,250		253		1,919,997
Residential first liens	7,459		—		7,459		1,299,534		—		1,299,534
Residential junior liens/home equity	5,166		—		5,166		620,716		253		620,463
Commercial real estate	33,376		88		33,288		2,251,097		40,246		2,210,851
Multifamily	3,561		88		3,473		385,432		15,097		370,335
Nownowner occupied	24,838		—		24,838		1,465,247		24,205		1,441,042
Owner occupied	4,977		—		4,977		400,418		944		399,474
Loans to individuals	24,208		—		24,208		999,975		—		999,975
Automobile	21,392		—		21,392		901,280		—		901,280
Consumer credit cards	496		—		496		11,151		—		11,151
Consumer other	2,320		—		2,320		87,544		—		87,544
Total	$	92,522	$	395	$	92,127	$	6,839,230	$	43,531	$	6,795,699

	2020
	Beginning balance		Impact of adoption of CECL		Charge-offs		Recoveries		Provision (credit)a		Ending balance
	(dollars in thousands)
Commercial, financial, agricultural and other	$	20,234	$	1,478	$	(6,318)	$	314	$	1,479	$	17,187
Time and demand	—		21,242		(6,220)		301		1,515		16,838
Commercial credit cards	—		470		(98)		13		(36)		349
Real estate construction	2,558		562		—		26		4,820		7,966
Residential real estate	4,093		7,276		(1,040)		414		3,615		14,358
Residential first liens	—		7,326		(550)		296		847		7,919
Residential junior liens/home equity	—		4,043		(490)		118		2,768		6,439
Commercial real estate	19,768		(207)		(4,939)		312		27,019		41,953
Multifamily	—		1,647		—		—		4,593		6,240
Nownowner occupied	—		12,317		(4,678)		187		20,588		28,414
Owner occupied	—		5,597		(261)		125		1,838		7,299
Loans to individuals	4,984		4,284		(6,953)		991		16,539		19,845
Automobile	—		6,106		(3,954)		745		13,236		16,133
Consumer credit cards	—		221		(595)		36		973		635
Consumer other	—		2,941		(2,404)		210		2,330		3,077
Total	$	51,637	$	13,393	$	(19,250)	$	2,057	$	53,472	$	101,309

a) The provision (credit) shown here excludes the provision for off-balance sheet credit exposure included in the income statement.

	December 31, 2020
							Loans
	Ending balance		Ending balance: individually evaluated for credit losses		Ending balance: collectively evaluated for credit losses		Ending balance		Ending balance: individually evaluated for credit losses		Ending balance: collectively evaluated for credit losses
	(dollars in thousands)
Commercial, financial, agricultural and other	$	17,187	$	1,268	$	15,919	$	1,555,986	$	5,411	$	1,550,575
Time and demand	16,838		1,268		15,570		1,541,382		5,411		1,535,971
Commercial credit cards	349		—		349		14,604		—		14,604
Real estate construction	7,966		—		7,966		427,221		—		427,221
Residential real estate	14,358		—		14,358		1,750,592		1,105		1,749,487
Residential first liens	7,919		—		7,919		1,144,323		528		1,143,795
Residential junior liens/home equity	6,439		—		6,439		606,269		577		605,692
Commercial real estate	41,953		3,638		38,315		2,211,569		34,947		2,176,622
Multifamily	6,240		116		6,124		371,239		459		370,780
Nownowner occupied	28,414		3,508		24,906		1,421,151		31,450		1,389,701
Owner occupied	7,299		14		7,285		419,179		3,038		416,141
Loans to individuals	19,845		—		19,845		815,815		—		815,815
Automobile	16,133		—		16,133		712,800		—		712,800
Consumer credit cards	635		—		635		12,360		—		12,360
Consumer other	3,077		—		3,077		90,655		—		90,655
Total	$	101,309	$	4,906	$	96,403	$	6,761,183	$	41,463	$	6,719,720

	2019
	Commercial, financial, agricultural and other		Real estate construction		Residential real estate		Commercial real estate		Loans to individuals		Total
	(dollars in thousands)
Allowance for credit losses:
Originated Loans:
Beginning balance	$	19,235	$	2,002	$	3,934	$	18,382	$	4,033	$	47,586
Charge-offs	(2,667)		—		(986)		(632)		(5,747)		(10,032)
Recoveries	245		158		246		189		611		1,449
Provision (credit)	3,408		398		897		1,792		6,087		12,582
Ending balance	20,221		2,558		4,091		19,731		4,984		51,585
Acquired Loans:
Beginning balance	139		—		35		4		—		178
Charge-offs	(726)		—		(56)		(1,376)		(84)		(2,242)
Recoveries	81		—		69		—		15		165
Provision (credit)	519		—		(46)		1,409		69		1,951
Ending balance	13		—		2		37		—		52
Total ending balance	$	20,234	$	2,558	$	4,093	$	19,768	$	4,984	$	51,637
Ending balance: individually evaluated for impairment	$	1,580	$	—	$	1	$	851	$	—	$	2,432
Ending balance: collectively evaluated for impairment	18,654		2,558		4,092		18,917		4,984		49,205
Loans:
Ending balance	1,241,853		449,039		1,681,362		2,117,519		699,375		6,189,148
Ending balance: individually evaluated for impairment	9,246		—		1,741		6,846		—		17,833
Ending balance: collectively evaluated for impairment	1,232,607		449,039		1,679,621		2,110,673		699,375		6,171,315

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Commitments and Letters of Credit (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Notional Amount of Commitments and Letter of Credit Instruments

The following table identifies the notional amount of those instruments at December 31:

	2021		2020
	(dollars in thousands)
Financial instruments whose contract amounts represent credit risk:
Commitments to extend credit	$	2,353,991	$	2,097,628
Financial standby letters of credit	18,824		15,988
Performance standby letters of credit	10,663		16,864
Commercial letters of credit	975		783

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Premises and Equipment (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Schedule of Premises and Equipment

Premises and equipment are described as follows:

	Estimated Useful Life	2021		2020
	(dollars in thousands)
Land	Indefinite	$	14,621	$	15,441
Buildings and improvements	10-50 years	75,149		77,003
Operating lease right of use asset	1-25 years	47,938		48,642
Leasehold improvements	5-40 years	35,909		35,347
Furniture and equipment	3-7 years	73,976		73,150
Software	3-7 years	43,511		41,681
Subtotal		291,104		291,264
Less accumulated depreciation and amortization		170,329		165,747
Total premises and equipment, net		$	120,775	$	125,517

Lessee, Operating Lease, Disclosure [Table Text Block]

The following table represents the lease costs and other lease information for the years ended December 31.

	2021			2020
	(dollars in thousands)
Balance sheet:
Operating lease asset classified as premises and equipment	$	40,550		$	42,617
Operating lease liability classified as other liabilities	44,801			46,819
Income statement:
Operating lease cost classified as occupancy and equipment expense	$	4,806		$	5,930
Weighted average lease term, in years	14.11			14.83
Weighted average discount rate	3.24		%	3.42		%
Operating cash flows	$	4,753		$	5,979

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

The following table reconciles future minimum lease payments due under non-cancelable operating leases (those amounts subject to recognition) to the lease liability as of December 31, 2021 (dollars in thousands):

For the twelve months ended December 31,
2022	$	4,667
2023	4,622
2024	4,481
2025	4,261
2026	3,844
Thereafter	35,207
Total future minimum lease payments	57,082
Less remaining imputed interest	12,281
Operating lease liability	$	44,801

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Goodwill and Other Amortizing Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill Disclosure [Abstract]

Summarized Other Intangible Assets

The following table summarizes other intangible assets:

	Gross Intangible Assets		Accumulated Amortization		Net Intangible Assets
	(dollars in thousands)
December 31, 2021
Customer deposit intangibles	$	22,573	$	(14,407)	$	8,166
Customer list intangible	2,283		(1,762)		521
Total other intangible assets	$	24,856	$	(16,169)	$	8,687
December 31, 2020
Customer deposit intangibles	$	22,573	$	(11,653)	$	10,920
Customer list intangible	2,283		(1,570)		713
Total other intangible assets	$	24,856	$	(13,223)	$	11,633

Estimated Amortization Expense of Core Deposit Intangibles

The following presents the estimated amortization expense of core deposit and customer list intangibles:

	Core Deposit Intangibles		Customer List Intangible		Total
	(dollars in thousands)
2022	$	2,343	$	159	$	2,502
2023	1,932		128		2,060
2024	1,522		97		1,619
2025	1,112		69		1,181
2026	702		42		744
Thereafter	555		26		581
Total	$	8,166	$	521	$	8,687

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Interest-Bearing Deposits (Tables)

12 Months Ended

Dec. 31, 2021

Deposits [Abstract]

Components of Interest-Bearing Deposits

Components of interest-bearing deposits at December 31 were as follows:

	2021		2020
	(dollars in thousands)
Interest-bearing demand deposits	$	291,476	$	250,353
Savings deposits	4,647,197		4,305,391
Time deposits	385,043		562,964
Total interest-bearing deposits	$	5,323,716	$	5,118,708

Scheduled Maturities of Time Deposits

Included in time deposits at December 31, 2021, were certificates of deposit with the following scheduled maturities (dollars in thousands):

2022	$	276,014
2023	50,607
2024	25,370
2025	12,814
2026 and thereafter	20,238
Total	$	385,043

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Short-term Borrowings (Tables)

12 Months Ended

Dec. 31, 2021

Short-term Debt [Abstract]

Summary of Short-Term Borrowings

Short-term borrowings at December 31 were as follows:

	2021						2020						2019
	Ending Balance		Average Balance		Average Rate		Ending Balance		Average Balance		Average Rate		Ending Balance		Average Balance		Average Rate
	(dollars in thousands)
Federal funds purchased	$	—	$	—	—	%	$	—	$	4,147	1.06	%	$	—	$	8,069	2.53	%
Borrowings from FHLB	—		—		—		—		28,252		1.54		136,200		278,930		2.62
Securities sold under agreements to repurchase	138,315		119,801		0.08		117,373		110,235		0.21		65,653		104,548		0.75
Total	$	138,315	$	119,801	0.08		$	117,373	$	142,634	0.49		$	201,853	$	391,547	2.12
Maximum total at any month-end	$	138,315					$	248,471					$	670,831
Weighted average rate at year-end					0.06	%					0.10	%					1.41	%

Interest Expense on Short-Term Borrowings

Interest expense on short-term borrowings for the years ended December 31 is detailed below:

	2021		2020		2019
	(dollars in thousands)
Federal funds purchased	$	—	$	44	$	204
Borrowings from FHLB	—		434		7,313
Securities sold under agreements to repurchase	99		226		781
Total interest on short-term borrowings	$	99	$	704	$	8,298

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Subordinated Debentures (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure Subordinated Debentures [Abstract]

Subordinated Debentures Outstanding

Subordinated debentures outstanding at December 31 are as follows:

			2021		2020
	Due	Rate	Amount		Amount
			(dollars in thousands)
Owed to:
First Commonwealth Bank	06/01/2028	4.875% until June 1, 2023, then 3-Month LIBOR + 1.845%	$	49,407	$	49,314
First Commonwealth Bank	06/01/2033	5.50% until June 1, 2028, then 3-Month LIBOR +2.37%	49,201		49,131
First Commonwealth Capital Trust II	01/23/2034	3-Month LIBOR + 2.85%	30,929		30,929
First Commonwealth Capital Trust III	04/06/2034	3-Month LIBOR + 2.85%	41,238		41,238
Total			$	170,775	$	170,612

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Other Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Summary of Other Long-Term Debt

Other long-term debt at December 31 follows:

	2021				2020
	Amount		Weighted Average Contractual Rate		Amount		Weighted Average Contractual Rate
	(dollars in thousands)
Borrowings from FHLB due:
2021					$	50,685	2.32	%
2022	$	712	3.85	%	712		3.85
2023	739		3.86		739		3.86
2024	769		3.86		769		3.86
2025	799		3.86		799		3.86
2026	830		3.87
Thereafter	1,724		3.68		2,554		3.74
Total	$	5,573			$	56,258

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Fair Values of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Quantitative Inputs and Assumptions Used in Level 3 Fair Value Measurements

In accordance with ASU 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 Inputs	Range /  (weighted average)
December 31, 2021
Other Investments	$	1,170		Carrying Value	N/A	N/A
Nonperforming Loans	598		(a)	Gas Reserve Study	Discount rate	10.00%
					Gas per MMBTU	$2.00 - $2.00 (b)
					Oil per BBL/d	$50.00 - $50.00 (b)
Limited Partnership Investments	14,981			Par Value	N/A	N/A
December 31, 2020
Other Investments	1,670			Carrying Value	N/A	N/A
Nonperforming Loans	798		(a)	Gas Reserve study	Discount rate	10.00%
					Gas per MMBTU	$1.46 - $1.48 (b)
					Oil per BBL/d	$36.00 - $36.00 (b)
Limited Partnership Investments	6,619			Par Value	N/A	N/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 at December 31:

	2021
	Level 1		Level 2		Level 3		Total
	(dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities—Residential	$	—	$	5,662	$	—	$	5,662
Mortgage-Backed Securities—Commercial	—		362,290		—		362,290
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities—Residential	—		629,974		—		629,974
Other Government-Sponsored Enterprises	—		981		—		981
Obligations of States and Political Subdivisions	—		9,524		—		9,524
Corporate Securities	—		32,949		—		32,949
Total Securities Available for Sale	—		1,041,380		—		1,041,380
Other Investments	—		11,668		1,170		12,838
Loans Held for Sale	—		18,583		—		18,583
Other Assets (a)	—		26,805		14,981		41,786
Total Assets	$	—	$	1,098,436	$	16,151	$	1,114,587
Other Liabilities (a)	$	—	$	34,263	$	—	$	34,263
Total Liabilities	$	—	$	34,263	$	—	$	34,263

(a)Hedging and non-hedging interest rate derivatives and limited partnership investments

	2020
	Level 1		Level 2		Level 3		Total
	(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	—		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

Schedule of Changes in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis

The changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows for the year ended December 31, 2021:

	Other Investments		Other Assets		Total
	(dollars in thousands)
Balance, beginning of year	$	1,670	$	6,619	$	8,289
Total gains or losses
Included in earnings	—		—		—
Included in other comprehensive income	—		—		—
Purchases, issuances, sales, and settlements
Purchases	—		8,511		8,511
Issuances	—		—		—
Sales	—		—		—
Settlements	(500)		(149)		(649)
Transfers from Level 3	—		—		—
Transfers into Level 3	—		—		—
Balance, end of year	$	1,170	$	14,981	$	16,151

There are no gains or losses included in earnings for the period that are attributable to the change in realized gains (losses) relating to assets held at December 31, 2021.

During the year ended December 31, 2021, there were no transfers between fair value Levels 1, 2 or 3.

The changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows for the year ended December 31, 2020:

	Other Investments		Other Assets		Total
	(dollars in thousands)
Balance, beginning of year	$	1,670	$	5,795	$	7,465
Total gains or losses
Included in earnings	—		—		—
Included in other comprehensive income	—		—		—
Purchases, issuances, sales, and settlements
Purchases	—		824		824
Issuances	—		—		—
Sales	—		—		—
Settlements	—		—		—
Transfers from Level 3	—		—		—
Transfers into Level 3	—		—		—
Balance, end of year	$	1,670	$	6,619	$	8,289

Schedule of Assets Measured on Nonrecurring Basis

The tables below present the balances of assets measured at fair value on a nonrecurring basis at December 31 and total gains and losses realized on these assets during the year ended December 31:

	2021
	Level 1		Level 2		Level 3		Total		Total Gains (Losses)
	(dollars in thousands)
Nonperforming loans	$	—	$	42,538	$	12,247	$	54,785	$	352
Other real estate owned	—		729		—		729		—
Total Assets	$	—	$	43,267	$	12,247	$	55,514	$	352

	2020
	Level 1		Level 2		Level 3		Total		Total Gains (Losses)
	(dollars in thousands)
Nonperforming loans	$	—	$	35,543	$	13,604	$	49,147	$	(7,905)
Other real estate owned	—		1,319		—		1,319		(30)
Total Assets	$	—	$	36,862	$	13,604	$	50,466	$	(7,935)

Carrying Amounts and Fair Values of Financial Instruments

The following table presents carrying amounts and estimated fair values of First Commonwealth’s financial instruments at December 31:

	2021
			Fair Value Measurements Using:
	Carrying Amount		Total		Level 1		Level 2		Level 3
	(dollars in thousands)
Financial assets
Cash and due from banks	$	84,738	$	84,738	$	84,738	$	—	$	—
Interest-bearing deposits	310,634		310,634		310,634		—		—
Securities available for sale	1,041,380		1,041,380		—		1,041,380		—
Securities held to maturity	541,311		536,651		—		536,651		—
Other investments	12,838		12,838		—		11,668		1,170
Loans held for sale	18,583		18,583		—		18,583		—
Loans	6,839,230		7,169,768		—		42,538		7,127,230
Financial liabilities
Deposits	7,982,498		7,980,101		—		7,980,101		—
Short-term borrowings	138,315		136,473		—		136,473		—
Long-term debt	5,573		6,065		—		6,065		—
Subordinated debt	170,775		175,040		—		—		175,040
Capital lease obligation	5,921		5,921		—		5,921		—

	2020
			Fair Value Measurements Using:
	Carrying Amount		Total		Level 1		Level 2		Level 3
	(dollars in thousands)
Financial assets
Cash and due from banks	$	100,009	$	100,009	$	100,009	$	—	$	—
Interest-bearing deposits	256,572		256,572		256,572		—		—
Securities available for sale	831,223		831,223		—		831,223		—
Securities held to maturity	361,844		369,851		—		369,851		—
Other investments	12,227		12,227		—		10,557		1,670
Loans held for sale	33,436		33,436		—		33,436		—
Loans	6,761,183		7,202,763		—		35,543		7,167,220
Financial liabilities
Deposits	7,438,666		7,440,906		—		7,440,906		—
Short-term borrowings	117,373		117,037		—		117,037		—
Long-term debt	56,258		57,881		—		57,881		—
Subordinated debt	170,612		165,665		—		—		165,665
Capital lease obligation	6,385		6,385		—		6,385		—

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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Provision (Benefit)

The income tax provision for the years ended December 31 is as follows:

	2021		2020		2019
	(dollars in thousands)
Current tax provision:
Federal	$	32,586	$	21,629	$	22,942
State	397		329		282
Total current tax provision	32,983		21,958		23,224
Deferred tax provision (benefit):
Federal	1,501		(5,070)		2,284
State	76		(132)		8
Total deferred tax provision	1,577		(5,202)		2,292
Total tax provision	$	34,560	$	16,756	$	25,516

Schedule of Effective Income Tax Rate Reconciliation

The statutory to effective tax rate reconciliation for the years ended December 31 is as follows:

	2021				2020				2019
	Amount		% of Pretax Income		Amount		% of Pretax Income		Amount		% of Pretax Income
	(dollars in thousands)
Tax at statutory rate	$	36,292	21	%	$	18,943	21	%	$	27,478	21	%
Increase (decrease) resulting from:
State income tax, net of federal benefit	326		—		155		—		229		—
Income from bank owned life insurance	(1,351)		(1)		(1,376)		(1)		(1,260)		(1)
Tax-exempt interest income, net	(846)		—		(1,117)		(1)		(1,298)		(1)
Tax credits	(127)		—		(44)		—		(7)		—
Other	266		—		195		—		374		—
Total tax provision	$	34,560	20	%	$	16,756	19	%	$	25,516	19	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences between the financial statement carrying amounts and the tax bases of assets and liabilities that represent significant portions of the deferred tax assets and liabilities at December 31 are presented below:

	2021		2020
	(dollars in thousands)
Deferred tax assets:
Lease liability	$	9,489	$	9,928
Allowance for credit losses	19,597		21,483
Postretirement benefits other than pensions	235		242
Unrealized loss on securities available for sale	2,357		—
Net operating loss carryforward	75		385
Deferred compensation	1,969		1,723
Accrued interest on nonaccrual loans	779		644
Accrued incentives	2,591		2,182
Unfunded loan commitments & other reserves	1,363		1,576
Other	988		1,831
Total deferred tax assets	39,443		39,994
Deferred tax liabilities:
Loan origination fees and costs	(253)		(1,280)
Right of use asset	(8,589)		(9,037)
Unrealized gain on securities available for sale	—		(4,629)
Depreciation of assets	(1,725)		(2,103)
Section 197 intangibles	(1,107)		(540)
Other	(308)		(424)
Total deferred tax liabilities	(11,982)		(18,013)
Net deferred tax asset	$	27,461	$	21,981

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Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Schedule of Components of Net Periodic Benefit Cost

Net periodic benefit cost of these plans for the years ended December 31, was as follows:

	2021		2020		2019
	(dollars in thousands)
Service cost	$	—	$	—	$	—
Interest cost on projected benefit obligation	23		23		34
Amortization of transition obligation	—		—		—
Amortization of prior service cost	76		—		—
Gain amortization	(27)		(52)		(60)
Net periodic benefit cost	$	72	$	(29)	$	(26)

Schedule of Changes in Benefit Obligations and Plan Assets

The following table sets forth the change in the benefit obligation and plan assets as of December 31:

	2021		2020
	(dollars in thousands)
Change in Benefit Obligation
Benefit obligation at beginning of year	$	1,372	$	834
Service cost	—		—
Interest cost	23		23
Amendments	—		537
Actuarial gain	(302)		102
Net benefits paid	(107)		(124)
Benefit obligation at end of year	986		1,372
Change in Plan Assets
Fair value of plan assets at beginning of year	—		—
Actual return on plan assets	—		—
Employer contributions	107		124
Net benefits paid	(107)		(124)
Fair value of plan assets at end of year	—		—
Funded Status at End of Year	986		1,372
Unrecognized prior service cost	(461)		(537)
Unrecognized net gain	584		308
Amounts recognized in retained earnings	$	1,109	$	1,143

Schedule of Amounts Recognized as Other Liabilities

As of December 31, the funded status of the plan is:

	2021		2020
	(dollars in thousands)
Amounts Recognized in the Statement of Financial Condition as Other liabilities	$	986	$	1,372

Schedule of Amounts Recognized in Accumulated Other Comprehensive Income

The following table identifies the related tax effects allocated to each component of other comprehensive income in the Consolidated Statements of Comprehensive Income as of December 31. Reclassification adjustments related to securities available for sale are included in the “Net securities gains” line in the Consolidated Statements of Income.

	2021						2020						2019
	Pretax Amount		Tax (Expense) Benefit		Net of Tax Amount		Pretax Amount		Tax (Expense) Benefit		Net of Tax Amount		Pretax Amount		Tax (Expense) Benefit		Net of Tax Amount
	(dollars in thousands)
Unrealized gains (losses) on securities:
Unrealized holding (losses) gains on securities arising during the period	$	(29,892)	$	6,278	$	(23,614)	$	19,981	$	(4,196)	$	15,785	$	20,625	$	(4,331)	$	16,294
Reclassification adjustment for gains on securities included in net income	(16)		3		(13)		(70)		15		(55)		(22)		5		(17)
Total unrealized (losses) gains on securities	(29,908)		6,281		(23,627)		19,911		(4,181)		15,730		20,603		(4,326)		16,277
Unrealized gains (losses) on derivatives:
Unrealized holding (losses) gains on derivatives arising during the period	(3,356)		705		(2,651)		(4,467)		938		(3,529)		935		(196)		739
Total unrealized (losses) gains on derivatives	(3,356)		705		(2,651)		(4,467)		938		(3,529)		935		(196)		739
Unrealized gains (losses) for postretirement obligations:
Prior service cost	76		(16)		60		(537)		113		(424)		—		—		—
Net gain (loss)	275		(58)		217		(155)		32		(123)		(121)		25		(96)
Total unrealized gains (losses) for postretirement obligations	351		(74)		277		(692)		145		(547)		(121)		25		(96)
Total other comprehensive (loss) income	$	(32,913)	$	6,912	$	(26,001)	$	14,752	$	(3,098)	$	11,654	$	21,417	$	(4,497)	$	16,920

The following table sets forth the amounts recognized in accumulated other comprehensive income that have not yet been recognized as components of net periodic benefit costs as of December 31:

	2021		2020		2019
	(dollars in thousands)
Amounts recognized in accumulated other comprehensive income, net of tax:
Net (gain) loss	$	(461)	$	(243)	$	(366)
Prior service cost	364		424		—
Total	$	(97)	$	181	$	(366)

Schedule of Weighted-Average Assumptions Used to Determine Benefit Obligation

Weighted-average assumptions used to determine the benefit obligation as of December 31 are as follows:

	2021		2020		2019
Weighted-Average Assumptions
Discount rate	2.38	%	1.83	%	2.88	%
Health care cost trend: Initial	5.90	%	5.95	%	5.55	%
Health care cost trend: Ultimate	4.75	%	4.75	%	4.75	%
Year ultimate reached	2027		2026		2025

Schedule of Weighted-Average Assumptions Used to Determine Net Periodic Cost

Weighted-average assumptions used to determine the benefit obligation as of December 31 are as follows:

	2021		2020		2019
Weighted-Average Assumptions
Discount rate	2.38	%	1.83	%	2.88	%
Health care cost trend: Initial	5.90	%	5.95	%	5.55	%
Health care cost trend: Ultimate	4.75	%	4.75	%	4.75	%
Year ultimate reached	2027		2026		2025

Weighted-average assumptions used to determine the net benefit costs as of December 31 are as follows: 

	2021		2020		2019
Weighted-Average Assumptions for Net Periodic Cost
Discount rate	1.83	%	2.88	%	4.11	%
Health care cost trend: Initial	5.95	%	5.55	%	6.00	%
Health care cost trend: Ultimate	4.75	%	4.75	%	4.75	%
Year ultimate reached	2026		2025		2024
Corridor	10.00	%	10.00	%	10.00	%
Recognition period for gains and losses	10.4		10.9		12.1

Schedule of Projected Benefit Payments

As of December 31, 2021, the projected benefit payments for the next ten years are as follows:

	Projected Benefit         Payments
	(dollars in thousands)
2022	$	118
2023	113
2024	107
2025	100
2026	93
2027 - 2031	350

Schedule of Amounts Recognized in Accumulated Other Comprehensive Income

The estimated costs that will be amortized from accumulated other comprehensive income into net periodic cost for 2022 are as follows (dollars in thousands):

	Postretirement Benefits
	(dollars in thousands)
Net gain	$	(69)
Prior service cost	76
Total	$	7

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Incentive Compensation Plan (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]

The following provides detail on the restricted stock awards which were issued and outstanding in 2021, 2020 and 2019 in order to retain and attract key employees. The grant date fair value of the restricted stock awards is equal to the price of First Commonwealth’s common stock on grant date.

Grant Date	Shares issued	Grant Price		Vesting Date	Number of Equal Vesting Periods
December 13, 2021	2,000	$	14.83	December 13, 2024	1
December 9, 2021	1,000	15.07		December 9, 2024	1
November 22, 2021	1,565	15.96		November 22, 2024	1
November 19, 2021	24,000	15.81		November 19, 2024	1
September 27, 2021	6,000	13.78		September 27, 2024	1
June 14, 2021	15,000	14.58		June 1, 2024	3
February 18, 2021	84,950	12.77		February 18, 2024	1
February 20, 2020	95,300	13.72		February 20, 2023	1
February 21, 2019	63,000	14.22		February 22, 2022	1
February 21, 2019	15,000	14.22		February 22, 2022	1
November 26, 2018	2,000	13.82		November 26, 2021	1
May 29, 2018	3,000	15.44		May 29, 2021	1
March 26, 2018	2,000	14.08		March 26, 2021	1
February 26, 2018	77,500	14.49		February 26, 2021	1
March 24, 2017	5,000	12.99		March 24, 2020	1
March 24, 2017	7,000	12.99		March 24, 2020	1
December 19, 2016	15,000	13.96		December 19, 2019	3
September 30, 2016	10,000	10.09		September 30, 2019	1
September 19, 2016	33,000	10.02		September 19, 2019	3
June 7, 2016	10,000	9.34		June 7, 2019	1
March 1, 2016	10,000	8.84		March 1, 2019	1
March 1, 2016	5,000	8.84		March 1, 2019	1

Unvested Service-Based Restricted Stock Awards

A summary of the status of First Commonwealth’s unvested service-based restricted stock awards as of December 31 and changes for the years ended on those dates is presented below:

	2021			2020			2019
	Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value
Outstanding, beginning of the year	250,800	$	14.13	171,500	$	14.27	137,500	$	13.05
Granted	134,515	13.64		95,300	13.72		78,000	14.22
Vested	(88,389)	14.46		(12,000)	12.99		(41,000)	10.09
Forfeited	(10,911)	13.66		(4,000)	13.85		(3,000)	14.40
Outstanding, end of the year	286,015	13.82		250,800	14.13		171,500	14.27

Schedule of Restricted Stock Units Granted Based on Performance [Table Text Block]

The following provides detail on restricted stock awards estimated to be granted on a performance award basis during 2021, 2020 and 2019. These plans were previously approved by the Board of Directors.

Grant Date	Target Share Award	Performance Period (years)	Award if threshold met		Award if targets are met		Award if superior met		Award if threshold not achieved		Vesting After Performance Period (years)	Final vesting
December 30, 2015	60,000	5									0	December 31, 2020
February 23, 2017	93,500	3	40	%	100	%	200	%	—	%	0	December 31, 2019
February 22, 2018	102,000	3	40	%	100	%	200	%	—	%	0	December 31, 2020
February 21, 2019	121,900	3	40	%	100	%	200	%	—	%	0	December 31, 2021
February 20, 2020	125,800	3	40	%	100	%	200	%	—	%	0	December 31, 2022
February 18, 2021	143,400	3	40	%	100	%	200	%	—	%	0	December 31, 2023

Unvested Target Award

The following table summarizes the estimated unvested target share awards for the Plans as of December 31:

	2021	2020	2019
Outstanding, beginning of the year	434,180	442,832	496,603
Granted	143,400	125,800	134,929
Issued	(158,531)	(134,452)	(188,700)
Forfeited	(27,949)	—	—
Outstanding, end of the year	391,100	434,180	442,832

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Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2021

Revenue Recognition and Deferred Revenue [Abstract]

Disaggregation of Revenue [Table Text Block]

The following presents noninterest income, segregated by revenue streams in-scope and out-of-scope of Topic 606 for the year ended December 31:

	2021		2020		2019
	(dollars in thousands)
Noninterest Income
In-scope of Topic 606:
Trust income	$	11,111	$	9,101	$	8,321
Service charges on deposit accounts	17,984		16,387		18,926
Insurance and retail brokerage commissions	8,502		7,850		7,583
Card related interchange income	27,954		23,966		21,677
Gain on sale of other loans and assets	753		967		1,062
Other income	4,184		3,675		3,837
Noninterest Income (in-scope of Topic 606)	70,488		61,946		61,406
Noninterest Income (out-of-scope of Topic 606)	36,269		32,530		24,079
Total Noninterest Income	$	106,757	$	94,476	$	85,485

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Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2021

Related Party Transactions [Abstract]

Loans to Related Parties

The following is an analysis of loans to related parties (dollars in thousands):

December 31, 2020	$	19,573
Advances	535
Repayments	(1,155)
December 31, 2021	$	18,953

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Regulatory Restrictions and Capital Adequacy (Tables)

12 Months Ended

Dec. 31, 2021

Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]

Schedule of Capital Amount and Ratio Considered to be Capitalized

as set forth in the tables below:

	Actual				Minimum Capital Required				Required to be Considered Well Capitalized
	Capital Amount		Ratio		Capital Amount		Ratio		Capital Amount		Ratio
	(dollars in thousands)
As of December 31, 2021
Total Capital to Risk Weighted Assets
First Commonwealth Financial Corporation	$	1,071,965	14.64	%	$	768,723	10.50	%	$	732,118	10.00	%
First Commonwealth Bank	1,041,854		14.26		767,321		10.50		730,782		10.00
Tier I Capital to Risk Weighted Assets
First Commonwealth Financial Corporation	$	894,670	12.22	%	$	622,300	8.50	%	$	585,694	8.00	%
First Commonwealth Bank	864,559		11.83		621,165		8.50		584,626		8.00
Tier I Capital to Average Assets
First Commonwealth Financial Corporation	$	894,670	9.73	%	$	367,656	4.00	%	$	459,570	5.00	%
First Commonwealth Bank	864,559		9.43		366,839		4.00		458,549		5.00
Common Equity Tier I to Risk Weighted Assets
First Commonwealth Financial Corporation	$	824,670	11.26	%	$	512,482	7.00	%	$	475,876	6.50	%
First Commonwealth Bank	864,559		11.83		511,547		7.00		475,008		6.50

	Actual				Minimum Capital Required				Required to be Considered Well Capitalized
	Capital Amount		Ratio		Capital Amount		Ratio		Capital Amount		Ratio
	(dollars in thousands)
As of December 31, 2020
Total Capital to Risk Weighted Assets
First Commonwealth Financial Corporation	$	1,010,608	14.88	%	$	713,289	10.50	%	$	679,323	10.00	%
First Commonwealth Bank	974,911		14.36		712,995		10.50		679,043		10.00
Tier I Capital to Risk Weighted Assets
First Commonwealth Financial Corporation	$	827,231	12.18	%	$	577,424	8.50	%	$	543,458	8.00	%
First Commonwealth Bank	791,568		11.66		577,186		8.50		543,234		8.00
Tier I Capital to Average Assets
First Commonwealth Financial Corporation	$	827,231	9.40	%	$	352,023	4.00	%	$	440,029	5.00	%
First Commonwealth Bank	791,568		9.01		351,244		4.00		439,055		5.00
Common Equity Tier I to Risk Weighted Assets
First Commonwealth Financial Corporation	$	757,231	11.15	%	$	475,526	7.00	%	$	441,560	6.50	%
First Commonwealth Bank	791,568		11.66		475,330		7.00		441,378		6.50

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

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Disclosure [Abstract]

Statements of Financial Condition

Statements of Financial Condition	December 31,
	2021		2020
	(dollars in thousands)
Assets
Cash	$	11,649	$	34,427
Loans	9		11
Investment in subsidiaries	1,152,580		1,108,801
Investment in unconsolidated subsidiary trusts	2,181		2,182
Investment in jointly-owned company	357		338
Premises and equipment, net	3,244		3,476
Dividends receivable from subsidiaries	7,762		3,038
Other assets	8,212		7,307
Total assets	$	1,185,994	$	1,159,580
Liabilities and Shareholders’ Equity
Accrued expenses and other liabilities	$	4,455	$	18,796
Subordinated debentures payable	72,167		72,167
Shareholders’ equity	1,109,372		1,068,617
Total liabilities and shareholders’ equity	$	1,185,994	$	1,159,580

Statements of Operations

Statements of Income	For the years ended December 31,
	2021		2020		2019
	(dollars in thousands)
Interest and dividends	$	4	$	8	$	8
Dividends from subsidiaries	72,202		61,708		55,964
Interest expense	(3,205)		(3,229)		(3,735)
Other income	—		3		6
Operating expense	(4,721)		(4,687)		(4,525)
Income before taxes and equity in undistributed earnings of subsidiaries	64,280		53,803		47,718
Applicable income tax benefits	1,646		1,648		1,720
Income before equity in undistributed earnings of subsidiaries	65,926		55,451		49,438
Equity in undistributed earnings of subsidiaries	72,331		17,996		55,895
Net income	$	138,257	$	73,447	$	105,333

Statements of Cash Flow

	For the years ended December 31,
Statements of Cash Flow	2021		2020		2019
	(dollars in thousands)
Operating Activities
Net income	$	138,257	$	73,447	$	105,333
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	369		383		340
Net gains on sales of assets	228		—		(2)
Decrease (increase) in prepaid income taxes	317		(317)		629
Undistributed equity in subsidiaries	(72,330)		(17,996)		(55,895)
Other net	(14,830)		19,705		(2,957)
Net cash provided by operating activities	52,011		75,222		47,448
Investing Activities
Net change in loans	2		1		1
Purchases of premises and equipment	(101)		(20)		(586)
Proceeds from sale of other assets	—		—		2
Net cash used in investing activities	(99)		(19)		(583)
Financing Activities
Dividends paid	(43,611)		(42,982)		(39,394)
Proceeds from reissuance of treasury stock	222		222		211
Purchase of treasury stock	(31,301)		(20,905)		(6,259)
Net cash used in financing activities	(74,690)		(63,665)		(45,442)
Net increase (decrease) in cash	(22,778)		11,538		1,423
Cash at beginning of year	34,427		22,889		21,466
Cash at end of year	$	11,649	$	34,427	$	22,889

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Statement of Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2021 USD ($) county Segment	Dec. 31, 2020 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of counties in which entity provides services | county	26
Business segments | Segment	1
Equity investments	20.00%
Loans past due days	90 days
Excess impaired credits	$ 250,000
Software purchases and developed are capitalized and amortized on straight-line basis	7 years
Cumulative Effect Of New Accounting Principle In Period Of Adoption		$ 11,199,000
Retained Earnings [Member]
Summary Of Significant Accounting Policies [Line Items]
Cumulative Effect Of New Accounting Principle In Period Of Adoption		11,199,000
Guaranteed Minimum Death Benefit [Member]
Summary Of Significant Accounting Policies [Line Items]
Other liabilities	$ 4,500,000	$ 4,600,000

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Supplemental Comprehensive Income Disclosures - Related Tax Effects Allocated to Each Component of Other Comprehensive Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized holding (losses) gains on securities arising during the period	$ (29,892)	$ 19,981	$ 20,625
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, Tax	(6,278)	4,196	4,331
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax	(23,614)	15,785	16,294
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax	16	70	22
Less: reclassification adjustment for (gains) losses on securities included in net income, Tax (Expense) Benefit	3	15	5
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	13	55	17
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment, before Tax	29,908	(19,911)	(20,603)
Total Unrealized (Losses) Gains on Securities, Tax (Expense) Benefit	6,281	(4,181)	(4,326)
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment and Tax	23,627	(15,730)	(16,277)
Unrealized holding (losses) gains on derivatives arising during the period	(3,356)	(4,467)	935
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax	(705)	(938)	196
Unrealized holding gains on derivatives arising during the period, Net of Tax Amount	(2,651)	(3,529)	739
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax	3,356	4,467	(935)
Total unrealized gains on derivatives, Tax (Expense) Benefit	705	938	(196)
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	2,651	3,529	(739)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax	76	537	0
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, Tax	(16)	113	0
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, after Tax	(60)	424	0
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax	(275)	155	121
Net (loss) gain, Tax (Expense) Benefit	(58)	32	25
Net gain	217	(123)	(96)
Total Unrealized Gains (Losses) for Postretirement Obligations, Before Tax	351	(692)	(121)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	74	(145)	(25)
Total Unrealized Gains (Losses) for Postretirement Obligations, Net of Tax	277	(547)	(96)
Total other comprehensive (loss) income, Pretax Amount	(32,913)	14,752	21,417
Other Comprehensive Income (Loss), Tax	(6,912)	3,098	4,497
Total other comprehensive (loss) Income	(26,001)	11,654	16,920
Post-Retirement Obligation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, after Tax	60
Net gain	217
Total other comprehensive (loss) Income	$ 277	$ (547)	$ (96)

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Supplemental Comprehensive Income Disclosures Supplemental Comprehensive Income Disclosures (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income [Line Items]
Balance at beginning of period	$ 17,233	$ 5,579	$ (11,341)
Other comprehensive loss before reclassification adjustment	(26,265)	12,256	17,033
Amounts reclassified from accumulated other comprehensive income (loss)	(13)	(55)	(17)
Net gain		(123)	(96)
Net other comprehensive loss during the period	(26,001)	11,654	16,920
Balance at end of period	(8,768)	17,233	5,579
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, after Tax	60	(424)	0
Net gain	217	(123)	(96)
Securities Available for Sale
Accumulated Other Comprehensive Income [Line Items]
Balance at beginning of period	20,310	4,580	(11,697)
Other comprehensive loss before reclassification adjustment	(23,614)	15,785	16,294
Amounts reclassified from accumulated other comprehensive income (loss)	(13)	(55)	(17)
Net other comprehensive loss during the period	(23,627)	15,730	16,277
Balance at end of period	(3,317)	20,310	4,580
AOCI, Derivative Qualifying as Hedge, Excluded Component, Parent [Member]
Accumulated Other Comprehensive Income [Line Items]
Balance at beginning of period	(2,895)	634	(105)
Other comprehensive loss before reclassification adjustment	(2,651)	(3,529)	739
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	0
Net other comprehensive loss during the period	(2,651)	(3,529)	739
Balance at end of period	(5,546)	(2,895)	634
Post-Retirement Obligation
Accumulated Other Comprehensive Income [Line Items]
Balance at beginning of period	(182)	365	461
Net gain		(123)	(96)
Net other comprehensive loss during the period	277	(547)	(96)
Balance at end of period	95	(182)	365
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, after Tax	(60)
Net gain	217
Accumulated Other Comprehensive Income (Loss), net [Member]
Accumulated Other Comprehensive Income [Line Items]
Net other comprehensive loss during the period	(26,001)	11,654	$ 16,920
Previously Reported [Member]
Accumulated Other Comprehensive Income [Line Items]
Balance at beginning of period	17,233
Balance at end of period		17,233
Previously Reported [Member] | Securities Available for Sale
Accumulated Other Comprehensive Income [Line Items]
Balance at beginning of period	20,310
Balance at end of period		20,310
Previously Reported [Member] | AOCI, Derivative Qualifying as Hedge, Excluded Component, Parent [Member]
Accumulated Other Comprehensive Income [Line Items]
Balance at beginning of period	(2,895)
Balance at end of period		(2,895)
Previously Reported [Member] | Post-Retirement Obligation
Accumulated Other Comprehensive Income [Line Items]
Balance at beginning of period	$ (182)
Balance at end of period		$ (182)

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Supplemental Cash Flow Disclosures - Non-cash Investing and Financing Activities (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash paid during the year for:
Interest	$ 15,624,000	$ 33,964,000	$ 56,005,000
Income taxes	22,374,000	25,914,000	21,787,000
Non-cash investing and financing activities:
Real Estate Owned, Transfer to Real Estate Owned	3,163,000	3,865,000	4,723,000
Fair value of loans transferred from held to maturity to available for sale	73,697,000	37,305,000	30,359,000
Transfer of Loans Held-for-sale to Portfolio Loans	0	4,335,000	482,000
Gross (decrease) increase in market value adjustment to securities available for sale	(29,908,000)	19,911,000	20,604,000
Gross (decrease) increase in market value adjustment to derivatives	(3,356,000)	(4,467,000)	935,000
Investments Committed to Purchase, Not Yet Paid	0	(34,185,000)	25,484,000
Increase in Commitment to Limited Partnership	7,565,000	0	1,469,000
Noncash or Part Noncash Acquisition, Value of Liabilities Assumed	0	0	(361,595,000)
Other Significant Noncash Transaction, Consideration Received	0	(384,000)	484,000
Treasury stock reissued	$ 2,042,000	$ 1,594,000	$ 2,531,000

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Earnings per Share - Composition of Weighted-Average Common Shares (Denominator) Used in Basic and Diluted Earnings Per Share (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Weighted Average Number of Shares, Deferred Compensation Plans	55,590	42,751	37,496
Weighted average common shares issued	113,914,902	113,914,902	113,914,902
Average treasury shares	(18,140,857)	(16,254,304)	(15,447,299)
Average unearned nonvested shares	(134,565)	(118,261)	(112,320)
Weighted average common shares and common stock equivalents used to calculate basic earnings per share	95,583,890	97,499,586	98,317,787
Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share	200,712	203,836	231,957
Weighted average common shares and common stock equivalents used to calculate diluted earnings per share	95,840,285	97,758,965	98,588,164
Weighted Average Number Of Additional Shares Deferred Compensation Plan	55,683	55,543	38,420
Basic Earnings Per Share (in dollars per share)	$ 1.45	$ 0.75	$ 1.07
Diluted Earnings Per Share (in dollars per share)	$ 1.44	$ 0.75	$ 1.07

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Earnings per Share - Common Stock Equivalents Not Included in Computation of Diluted Earnings Per Share (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, shares	99,344	92,499	81,730
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, shares	0	106,931	26,217
Minimum [Member] | Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock, par value (in dollars per share)	$ 12.77	$ 13.72	$ 12.99
Minimum [Member] | Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock, par value (in dollars per share)	0	12.43	16.62
Maximum [Member] | Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock, par value (in dollars per share)	15.96	15.44	15.44
Maximum [Member] | Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock, par value (in dollars per share)	$ 0	$ 15.37	$ 16.62

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Cash and Due from Banks - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Cash and Due from Banks [Abstract]
Average cash balances held with the Federal Reserve Bank	$ 309.6	$ 173.2

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Derivatives - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) Derivative	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Derivative [Line Items]
Number of participation agreements for interest rate swaps, participant | Derivative	39
Number of participation agreements for interest rate swaps, lead bank | Derivative	17
Derivative, Gain (Loss) on Derivative, Net	$ 2,344	$ (2,521)	$ (269)
Interest Rate Swap [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative, Notional Amount	70,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, Notional Amount	570,000	70,000
Interest Rate Swap [Member] | Interest Income [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	1,567	0	(118)
Interest Rate Swap [Member] | Other Income [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	959	449	(159)
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, Underlying Asset Carrying Value	2,000	2,100
Derivative Liability, Fair Value, Gross Asset	2,000	2,100
Derivative, Notional Amount	1,982	2,119
Foreign Exchange Contract [Member] | Other Income [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	11	18	5
Forward Contracts [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, Underlying Asset Carrying Value	11,000	25,000
Derivative Liability, Fair Value, Gross Asset	11,900	28,400
Derivative Liability, Notional Amount	29,700	47,900
Derivative, Notional Amount	38,000	65,000
Forward Contracts [Member] | Other Income [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	0	0	0
Other Income	(454)	$ 420	$ 106
2024 [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative, Notional Amount	30,000
2026 [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 40,000

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Derivatives - Credit Value Adjustment Recorded Related to Notional Amount of Derivatives Outstanding (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Credit value adjustment	$ (395)	$ (2,792)
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Derivative, Notional Amount	708,759	631,446
Not Designated as Hedging Instrument [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Derivative, Notional Amount	66,007	66,527
Not Designated as Hedging Instrument [Member] | Interest Rate Collar [Member]
Derivative [Line Items]
Derivative, Notional Amount	35,354	35,354
Not Designated as Hedging Instrument [Member] | Credit Default Swap, Buying Protection [Member]
Derivative [Line Items]
Derivative, Notional Amount	241,111	220,280
Not Designated as Hedging Instrument [Member] | Credit Default Swap, Selling Protection [Member]
Derivative [Line Items]
Derivative, Sold Protection Notional Amount	(95,618)	(78,522)
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member]
Derivative [Line Items]
Derivative, Notional Amount	29,691	47,874
Designated as Hedging Instrument [Member]
Derivative [Line Items]
Fair value adjustment	(7,022)	(3,665)
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Derivative, Notional Amount	570,000	70,000
Designated as Hedging Instrument [Member] | Forward Contracts [Member]
Derivative [Line Items]
Derivative, Notional Amount	38,000	65,000
Fair value adjustment	(29)	(483)
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative [Line Items]
Derivative, Notional Amount	1,982	2,119
Fair value adjustment	$ 12	$ (5)

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Derivatives - Schedule of Change in Fair Value of Derivative Assets and Liabilities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 2,344	$ (2,521)	$ (269)
Other Income [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	728	(981)	(269)
Interest Rate Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Net Hedge Ineffectiveness Gain (Loss)	0	0	(352)
Forward Contracts [Member] | Other Income [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	0	0	0
Other Income	(454)	420	106
Interest Rate Swap [Member] | Other Income [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	959	449	(159)
Other Expenses	0	0	7
Interest Rate Swap [Member] | Interest Income [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	1,567	0	(118)
Foreign Exchange Contract [Member] | Other Income [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 11	$ 18	$ 5

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Investment Securities - Analysis of Amortized Cost and Estimated Fair Values of Securities Available for Sale (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Investment Securities [Line Items]
Amortized Cost	$ 1,045,579	$ 805,515
Gross Unrealized Gains	9,515	25,708
Gross Unrealized Losses	(13,714)	0
Securities available for sale	1,041,380	831,223
Estimated Fair Value, Less Than 12 Months	1,032,863	3,755
Available For Sale Securities Continuous Unrealized Income Loss Position Less Than Twelve Months Aggregate Gain Losses	(22,142)	(10)
Estimated Fair Value, 12 Months or More	0	0
SecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAggregateLosses	0	0
Securities Continuous Unrealized Loss Position Fair Value	1,032,863	3,755
SecuritiesContinuousUnrealizedLossPositionAggregateLosses	(22,142)	(10)
US States and Political Subdivisions Debt Securities [Member]
Investment Securities [Line Items]
Amortized Cost	9,538	11,154
Gross Unrealized Gains	89	243
Gross Unrealized Losses	(103)	0
Securities available for sale	9,524	11,397
Corporate Securities [Member]
Investment Securities [Line Items]
Amortized Cost	32,088	22,941
Gross Unrealized Gains	973	1,444
Gross Unrealized Losses	(112)	0
Securities available for sale	32,949	24,385
Obligations of U.S. Government-Sponsored Enterprises [Member] | Mortgage - Backed Securities - Residential [Member]
Investment Securities [Line Items]
Amortized Cost	632,687	481,109
Gross Unrealized Gains	6,308	14,924
Gross Unrealized Losses	(9,021)	0
Securities available for sale	629,974	496,033
Estimated Fair Value, Less Than 12 Months	658,965	3,755
Available For Sale Securities Continuous Unrealized Income Loss Position Less Than Twelve Months Aggregate Gain Losses	(14,779)	(10)
Estimated Fair Value, 12 Months or More	0	0
SecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAggregateLosses	0	0
Securities Continuous Unrealized Loss Position Fair Value	658,965	3,755
SecuritiesContinuousUnrealizedLossPositionAggregateLosses	(14,779)	(10)
Obligations of U.S. Government-Sponsored Enterprises [Member] | Other Government - Sponsored Enterprises [Member]
Investment Securities [Line Items]
Amortized Cost	1,000	100,996
Gross Unrealized Gains	0	2
Gross Unrealized Losses	(19)	0
Securities available for sale	981	100,998
Estimated Fair Value, Less Than 12 Months	22,261
Available For Sale Securities Continuous Unrealized Income Loss Position Less Than Twelve Months Aggregate Gain Losses	(644)
Estimated Fair Value, 12 Months or More	0
SecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAggregateLosses	0
Securities Continuous Unrealized Loss Position Fair Value	22,261
SecuritiesContinuousUnrealizedLossPositionAggregateLosses	(644)
Obligations of U.S. Government [Member] | Mortgage - Backed Securities - Commercial [Member]
Investment Securities [Line Items]
Amortized Cost	365,024	182,823
Gross Unrealized Gains	1,725	8,357
Gross Unrealized Losses	(4,459)	0
Securities available for sale	362,290	191,180
Estimated Fair Value, Less Than 12 Months	320,414
Available For Sale Securities Continuous Unrealized Income Loss Position Less Than Twelve Months Aggregate Gain Losses	(6,398)
Estimated Fair Value, 12 Months or More	0
SecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAggregateLosses	0
Securities Continuous Unrealized Loss Position Fair Value	320,414
SecuritiesContinuousUnrealizedLossPositionAggregateLosses	(6,398)
Obligations of U.S. Government [Member] | Mortgage - Backed Securities - Residential [Member]
Investment Securities [Line Items]
Amortized Cost	5,242	6,492
Gross Unrealized Gains	420	738
Gross Unrealized Losses	0	0
Securities available for sale	$ 5,662	$ 7,230

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Investment Securities - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) Security	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Debt Securities, Available-for-sale [Line Items]
Number of securities in an unrealized loss positions | Security	66
Corporate/Mortgage-Backed Securities, Amortized cost	$ 1,045,579	$ 805,515
Securities available for sale	1,041,380	831,223
Other investments	11,700	10,600
Equity Securities, FV-NI	1,200	1,700
Gross Unrealized Gains (Losses)	13,714	0
Amortized Cost	1,045,579	805,515
Held-to-maturity Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Pledged Financial Instruments, Not Separately Reported, Other Debt Securities Available-for-sale or Held-for-investment	313,900	228,100
Available-for-sale Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Pledged Financial Instruments, Not Separately Reported, Other Debt Securities Available-for-sale or Held-for-investment	759,100	792,100
Corporate Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Corporate/Mortgage-Backed Securities, Amortized cost	32,088	22,941
Securities available for sale	32,949	24,385
Gross Unrealized Gains (Losses)	112	0
Amortized Cost	32,088	22,941
Sales [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Gross Realized Losses	0	0	$ 0
Available-for-sale Securities, Gross Realized Losses	0	0	7
Available-for-sale Securities, Gross Realized Gain (Loss), Excluding Other than Temporary Impairments	0	0	(7)
Calls And Maturities [Member]
Debt Securities, Available-for-sale [Line Items]
Gross Gains	16	70	29
Available-for-sale Securities, Gross Realized Losses	0	0	0
Gain Losses Maturities And Impairment	$ 16	$ 70	$ 29

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Investment Securities - Amortized Cost and Estimated Fair Value of Debt Securities Available for Sale (Detail) - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Investment Securities [Line Items]
Due within 1 year, Amortized Cost		$ 0
Due after 1 but within 5 years, Amortized Cost		13,874
Due after 5 but within 10 years, Amortized Cost		28,752
Due after 10 years, Amortized Cost		0
Debt securities gross, Amortized Cost		42,626
Amortized Cost		1,045,579	$ 805,515
Total debt securities, Amortized Cost		1,045,579
Due within 1 year, Estimated Fair Value		0
Due after 1 but within 5 years, Estimated Fair Value		14,334
Due after 5 but within 10 years, Estimated Fair Value		29,120
Due after 10 years, Estimated Fair Value		0
Debt securities gross, Estimated Fair Value		43,454
Securities available for sale		1,041,380	$ 831,223
Total debt securities, Estimated Fair Value		1,041,380
Mortgage-Backed Securities [Member]
Investment Securities [Line Items]
Amortized Cost	[1]	1,002,953
Securities available for sale	[1]	$ 997,926

[1] Mortgage Backed Securities include an amortized cost of $370.3 million and a fair value of $368.0 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $632.7 million and a fair value of $630.0 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac.

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Investment Securities - Amortized Cost and Estimated Fair Value of Debt Securities Available for Sale, Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Investment Securities [Line Items]
Amortized Cost	$ 1,045,579	$ 805,515
Securities available for sale	1,041,380	$ 831,223
US Government Agencies Debt Securities [Member]
Investment Securities [Line Items]
Amortized Cost	370,300
Securities available for sale	368,000
Obligations of U.S. Government-Sponsored Enterprises [Member]
Investment Securities [Line Items]
Amortized Cost	632,700
Securities available for sale	$ 630,000

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Investment Securities - Proceeds from Sale, Gross Gains (Losses) Realized on Sales, Maturities and Other-Than-Temporary Impairment Charges Related to Securities Available for Sale (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Gain (Loss) on Securities [Line Items]
Proceeds from sale	$ 0	$ 0	$ 948
Net gains (losses) and impairment	16	70	22
Calls And Maturities [Member]
Gain (Loss) on Securities [Line Items]
Gross losses	0	0	0
Gross gains	16	70	29
Total gain (losses) maturities and impairment	16	70	29
Sales [Member]
Gain (Loss) on Securities [Line Items]
Gross losses	0	0	(7)
Available-for-sale Securities, Gross Realized Losses	0	0	0
Total gain (losses) from sales transactions	$ 0	$ 0	$ (7)

XML

Investment Securities - Amortized Cost and Fair Values of Debt Securities Held to Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 541,311	$ 361,844
Gross Unrealized Gains	3,768	8,017
Gross Unrealized Losses	(8,428)	(10)
Estimated Fair Value	536,651	369,851
ERROR in label resolution.
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	1,000	800
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(3)	0
Estimated Fair Value	997	800
US States and Political Subdivisions Debt Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	29,402	34,391
Gross Unrealized Gains	414	705
Gross Unrealized Losses	(103)	0
Estimated Fair Value	29,713	35,096
Mortgage - Backed Securities - Commercial [Member] | Obligations of U.S. Government [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	91,439	36,799
Gross Unrealized Gains	305	1,441
Gross Unrealized Losses	(1,939)	0
Estimated Fair Value	89,805	38,240
Mortgage - Backed Securities - Commercial [Member] | Obligations of U.S. Government-Sponsored Enterprises [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	7,309	9,737
Gross Unrealized Gains	148	344
Gross Unrealized Losses	0	0
Estimated Fair Value	7,457	10,081
Mortgage - Backed Securities - Residential [Member] | Obligations of U.S. Government [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	2,409	2,766
Gross Unrealized Gains	101	138
Gross Unrealized Losses	0	0
Estimated Fair Value	2,510	2,904
Mortgage - Backed Securities - Residential [Member] | Obligations of U.S. Government-Sponsored Enterprises [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	387,848	277,351
Gross Unrealized Gains	2,800	5,389
Gross Unrealized Losses	(5,758)	(10)
Estimated Fair Value	384,890	282,730
Other Government - Sponsored Enterprises [Member] | Obligations of U.S. Government-Sponsored Enterprises [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	21,904	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(625)	0
Estimated Fair Value	$ 21,279	$ 0

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Investment Securities - Schedule of Debt Securities Expected Maturity (Details) - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Amortized Cost
Due within 1 year		$ 908
Due after 1 but within 5 years		7,610
Due after 5 but within 10 years		43,226
Due after 10 years		562
Amortized Cost		52,306
Debt Securities, Held-to-maturity		541,311	$ 361,844
Estimated Fair Value
Due within 1 year		918
Due after 1 but within 5 years		7,653
Due after 5 but within 10 years		42,846
Due after 10 years		572
Estimated Fair Value		51,989
Debt Securities, Held-to-maturity, Fair Value		536,651	$ 369,851
Mortgage-Backed Securities [Member]
Amortized Cost
Debt Securities, Held-to-maturity	[1]	489,005
Estimated Fair Value
Debt Securities, Held-to-maturity, Fair Value	[1]	484,662
Mortgage-Backed Securities [Member] | US Government Agencies Debt Securities [Member]
Amortized Cost
Debt Securities, Held-to-maturity		93,800
Estimated Fair Value
Debt Securities, Held-to-maturity, Fair Value		92,300
Mortgage-Backed Securities [Member] | Obligations of U.S. Government-Sponsored Enterprises [Member]
Amortized Cost
Debt Securities, Held-to-maturity		395,200
Estimated Fair Value
Debt Securities, Held-to-maturity, Fair Value		$ 392,300

[1] Mortgage Backed Securities include an amortized cost of $93.8 million and a fair value of $92.3 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $395.2 million and a fair value of $392.3 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac.

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Investment Securities - Schedule of Unrealized Losses and Estimated Fair Values (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Estimated Fair Value, Less Than 12 Months	$ 1,032,863	$ 3,755
Available For Sale Securities Continuous Unrealized Income Loss Position Less Than Twelve Months Aggregate Gain Losses	(22,142)	(10)
Estimated Fair Value, 12 Months or More	0	0
SecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAggregateLosses	0	0
Securities Continuous Unrealized Loss Position Fair Value	1,032,863	3,755
SecuritiesContinuousUnrealizedLossPositionAggregateLosses	(22,142)	(10)
US States and Political Subdivisions Debt Securities [Member]
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Estimated Fair Value, Less Than 12 Months	11,213
Available For Sale Securities Continuous Unrealized Income Loss Position Less Than Twelve Months Aggregate Gain Losses	(206)
Estimated Fair Value, 12 Months or More	0
SecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAggregateLosses	0
Securities Continuous Unrealized Loss Position Fair Value	11,213
SecuritiesContinuousUnrealizedLossPositionAggregateLosses	(206)
ERROR in label resolution.
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Estimated Fair Value, Less Than 12 Months	997
Available For Sale Securities Continuous Unrealized Income Loss Position Less Than Twelve Months Aggregate Gain Losses	(3)
Estimated Fair Value, 12 Months or More	0
SecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAggregateLosses	0
Securities Continuous Unrealized Loss Position Fair Value	997
SecuritiesContinuousUnrealizedLossPositionAggregateLosses	(3)
Corporate Securities [Member]
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Estimated Fair Value, Less Than 12 Months	19,013
Available For Sale Securities Continuous Unrealized Income Loss Position Less Than Twelve Months Aggregate Gain Losses	(112)
Estimated Fair Value, 12 Months or More	0
SecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAggregateLosses	0
Securities Continuous Unrealized Loss Position Fair Value	19,013
SecuritiesContinuousUnrealizedLossPositionAggregateLosses	(112)
Mortgage - Backed Securities - Residential [Member] | Obligations of U.S. Government-Sponsored Enterprises [Member]
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Estimated Fair Value, Less Than 12 Months	658,965	3,755
Available For Sale Securities Continuous Unrealized Income Loss Position Less Than Twelve Months Aggregate Gain Losses	(14,779)	(10)
Estimated Fair Value, 12 Months or More	0	0
SecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAggregateLosses	0	0
Securities Continuous Unrealized Loss Position Fair Value	658,965	3,755
SecuritiesContinuousUnrealizedLossPositionAggregateLosses	(14,779)	$ (10)
Mortgage - Backed Securities - Commercial [Member] | Obligations of U.S. Government [Member]
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Estimated Fair Value, Less Than 12 Months	320,414
Available For Sale Securities Continuous Unrealized Income Loss Position Less Than Twelve Months Aggregate Gain Losses	(6,398)
Estimated Fair Value, 12 Months or More	0
SecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAggregateLosses	0
Securities Continuous Unrealized Loss Position Fair Value	320,414
SecuritiesContinuousUnrealizedLossPositionAggregateLosses	$ (6,398)

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Loans and Allowance for Credit Losses - Outstanding Balances of Loan (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 6,839,230	$ 6,761,183	$ 6,189,148
Commercial, financial, agricultural and other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,173,452	1,555,986
Commercial, financial, agricultural and other [Member] | Time and demand loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,159,524	1,541,382
Commercial, financial, agricultural and other [Member] | Commercial credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	13,928	14,604
Real Estate Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	494,456	427,221
Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,920,250	1,750,592
Residential Real Estate [Member] | Senior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,299,534	1,144,323
Residential Real Estate [Member] | Junior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	620,716	606,269
Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,251,097	2,211,569
Commercial real estate [Member] | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	385,432	371,239
Commercial real estate [Member] | Nonowner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,465,247	1,421,151
Commercial real estate [Member] | Owner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	400,418	419,179
Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	999,975	815,815
Loans To Individuals [Member] | Automobile Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	901,280	712,800
Loans To Individuals [Member] | Consumer Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	11,151	12,360
Loans To Individuals [Member] | Other consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 87,544	$ 90,655

XML

Loans and Allowance for Credit Losses - Credit Risk Profile by Creditworthiness (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	$ 6,839,230	$ 6,761,183
Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	6,641,104	6,458,370
Special Mention [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	120,563	226,634
Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	77,563	76,179
Doubtful [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Total Non-Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	198,126	302,813
Unlikely to be Collected Financing Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Commercial, financial, agricultural and other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	1,173,452	1,555,986
Commercial, financial, agricultural and other [Member] | Commercial credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	13,928	14,604
Commercial, financial, agricultural and other [Member] | Time and demand loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	1,159,524	1,541,382
Commercial, financial, agricultural and other [Member] | Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	1,121,234	1,491,916
Commercial, financial, agricultural and other [Member] | Pass [Member] | Commercial credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	13,928	14,604
Commercial, financial, agricultural and other [Member] | Pass [Member] | Time and demand loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	1,107,306	1,477,312
Commercial, financial, agricultural and other [Member] | Special Mention [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	33,765	48,233
Commercial, financial, agricultural and other [Member] | Special Mention [Member] | Commercial credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Commercial, financial, agricultural and other [Member] | Special Mention [Member] | Time and demand loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	33,765	48,233
Commercial, financial, agricultural and other [Member] | Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	18,453	15,837
Commercial, financial, agricultural and other [Member] | Substandard [Member] | Commercial credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Commercial, financial, agricultural and other [Member] | Substandard [Member] | Time and demand loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	18,453	15,837
Commercial, financial, agricultural and other [Member] | Doubtful [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Commercial, financial, agricultural and other [Member] | Doubtful [Member] | Commercial credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Commercial, financial, agricultural and other [Member] | Doubtful [Member] | Time and demand loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Commercial, financial, agricultural and other [Member] | Total Non-Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	52,218	64,070
Commercial, financial, agricultural and other [Member] | Total Non-Pass [Member] | Commercial credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Commercial, financial, agricultural and other [Member] | Total Non-Pass [Member] | Time and demand loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	52,218	64,070
Commercial, financial, agricultural and other [Member] | Unlikely to be Collected Financing Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Commercial, financial, agricultural and other [Member] | Unlikely to be Collected Financing Receivable | Commercial credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Commercial, financial, agricultural and other [Member] | Unlikely to be Collected Financing Receivable | Time and demand loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Real Estate Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	494,456	427,221
Real Estate Construction [Member] | Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	493,913	426,663
Real Estate Construction [Member] | Special Mention [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	498	504
Real Estate Construction [Member] | Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	45	54
Real Estate Construction [Member] | Doubtful [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Real Estate Construction [Member] | Total Non-Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	543	558
Real Estate Construction [Member] | Unlikely to be Collected Financing Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	1,920,250	1,750,592
Residential Real Estate [Member] | Senior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	1,299,534	1,144,323
Residential Real Estate [Member] | Junior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	620,716	606,269
Residential Real Estate [Member] | Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	1,913,064	1,740,992
Residential Real Estate [Member] | Pass [Member] | Senior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	1,295,524	1,138,409
Residential Real Estate [Member] | Pass [Member] | Junior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	617,540	602,583
Residential Real Estate [Member] | Special Mention [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	976	1,902
Residential Real Estate [Member] | Special Mention [Member] | Senior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	905	1,780
Residential Real Estate [Member] | Special Mention [Member] | Junior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	71	122
Residential Real Estate [Member] | Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	6,210	7,698
Residential Real Estate [Member] | Substandard [Member] | Senior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	3,105	4,134
Residential Real Estate [Member] | Substandard [Member] | Junior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	3,105	3,564
Residential Real Estate [Member] | Doubtful [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Residential Real Estate [Member] | Doubtful [Member] | Senior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Residential Real Estate [Member] | Doubtful [Member] | Junior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Residential Real Estate [Member] | Total Non-Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	7,186	9,600
Residential Real Estate [Member] | Total Non-Pass [Member] | Senior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	4,010	5,914
Residential Real Estate [Member] | Total Non-Pass [Member] | Junior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	3,176	3,686
Residential Real Estate [Member] | Unlikely to be Collected Financing Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Residential Real Estate [Member] | Unlikely to be Collected Financing Receivable | Senior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Residential Real Estate [Member] | Unlikely to be Collected Financing Receivable | Junior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	2,251,097	2,211,569
Commercial real estate [Member] | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	385,432	371,239
Commercial real estate [Member] | Nonowner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	1,465,247	1,421,151
Commercial real estate [Member] | Owner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	400,418	419,179
Commercial real estate [Member] | Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	2,113,123	1,983,258
Commercial real estate [Member] | Pass [Member] | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	355,702	369,883
Commercial real estate [Member] | Pass [Member] | Nonowner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	1,368,922	1,216,252
Commercial real estate [Member] | Pass [Member] | Owner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	388,499	397,123
Commercial real estate [Member] | Special Mention [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	85,324	175,995
Commercial real estate [Member] | Special Mention [Member] | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	14,565	131
Commercial real estate [Member] | Special Mention [Member] | Nonowner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	63,783	161,336
Commercial real estate [Member] | Special Mention [Member] | Owner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	6,976	14,528
Commercial real estate [Member] | Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	52,650	52,316
Commercial real estate [Member] | Substandard [Member] | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	15,165	1,225
Commercial real estate [Member] | Substandard [Member] | Nonowner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	32,542	43,563
Commercial real estate [Member] | Substandard [Member] | Owner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	4,943	7,528
Commercial real estate [Member] | Doubtful [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Commercial real estate [Member] | Doubtful [Member] | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Commercial real estate [Member] | Doubtful [Member] | Nonowner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Commercial real estate [Member] | Doubtful [Member] | Owner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Commercial real estate [Member] | Total Non-Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	137,974	228,311
Commercial real estate [Member] | Total Non-Pass [Member] | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	29,730	1,356
Commercial real estate [Member] | Total Non-Pass [Member] | Nonowner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	96,325	204,899
Commercial real estate [Member] | Total Non-Pass [Member] | Owner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	11,919	22,056
Commercial real estate [Member] | Unlikely to be Collected Financing Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Commercial real estate [Member] | Unlikely to be Collected Financing Receivable | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Commercial real estate [Member] | Unlikely to be Collected Financing Receivable | Nonowner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Commercial real estate [Member] | Unlikely to be Collected Financing Receivable | Owner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	999,975	815,815
Loans To Individuals [Member] | Automobile Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	901,280	712,800
Loans To Individuals [Member] | Consumer Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	11,151	12,360
Loans To Individuals [Member] | Other consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	87,544	90,655
Loans To Individuals [Member] | Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	999,770	815,541
Loans To Individuals [Member] | Pass [Member] | Automobile Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	901,132	712,539
Loans To Individuals [Member] | Pass [Member] | Consumer Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	11,151	12,360
Loans To Individuals [Member] | Pass [Member] | Other consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	87,487	90,642
Loans To Individuals [Member] | Special Mention [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Loans To Individuals [Member] | Special Mention [Member] | Automobile Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Loans To Individuals [Member] | Special Mention [Member] | Consumer Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Loans To Individuals [Member] | Special Mention [Member] | Other consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Loans To Individuals [Member] | Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	205	274
Loans To Individuals [Member] | Substandard [Member] | Automobile Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	148	261
Loans To Individuals [Member] | Substandard [Member] | Consumer Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Loans To Individuals [Member] | Substandard [Member] | Other consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	57	13
Loans To Individuals [Member] | Doubtful [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Loans To Individuals [Member] | Doubtful [Member] | Automobile Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Loans To Individuals [Member] | Doubtful [Member] | Consumer Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Loans To Individuals [Member] | Doubtful [Member] | Other consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Loans To Individuals [Member] | Total Non-Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	205	274
Loans To Individuals [Member] | Total Non-Pass [Member] | Automobile Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	148	261
Loans To Individuals [Member] | Total Non-Pass [Member] | Consumer Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Loans To Individuals [Member] | Total Non-Pass [Member] | Other consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	57	13
Loans To Individuals [Member] | Unlikely to be Collected Financing Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Loans To Individuals [Member] | Unlikely to be Collected Financing Receivable | Automobile Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Loans To Individuals [Member] | Unlikely to be Collected Financing Receivable | Consumer Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	0	0
Loans To Individuals [Member] | Unlikely to be Collected Financing Receivable | Other consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	$ 0	$ 0

XML

Loans and Allowance for Credit Losses - Credit Risk by Vintage (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	$ 6,839,230	$ 6,761,183
Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,757,022	1,667,389
Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,125,065	1,022,396
Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	800,238	792,402
Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	513,703	589,307
Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	413,088	462,092
Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,240,743	1,175,550
Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	989,371	1,052,047
Time and demand loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,159,524	1,541,382
Time and demand loans | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	281,244	598,053
Time and demand loans | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	126,403	193,601
Time and demand loans | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	143,030	142,224
Time and demand loans | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	91,118	72,277
Time and demand loans | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	45,442	74,228
Time and demand loans | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	111,127	83,313
Time and demand loans | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	361,160	377,686
Commercial credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	13,928	14,604
Commercial credit cards | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Commercial credit cards | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Commercial credit cards | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Commercial credit cards | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Commercial credit cards | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Commercial credit cards | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Commercial credit cards | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	13,928	14,604
Real Estate Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	494,456	427,221
Real Estate Construction | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	202,016	150,493
Real Estate Construction | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	129,298	133,195
Real Estate Construction | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	123,153	104,167
Real Estate Construction | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	38,267	34,803
Real Estate Construction | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	441	389
Real Estate Construction | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	841	1,009
Real Estate Construction | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	440	3,165
Senior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,299,534	1,144,323
Senior Lien | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	376,106	316,052
Senior Lien | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	375,904	184,550
Senior Lien | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	126,788	142,823
Senior Lien | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	84,484	110,365
Senior Lien | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	74,268	91,495
Senior Lien | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	260,010	297,057
Senior Lien | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,974	1,981
Junior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	620,716	606,269
Junior Lien | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	56,861	3,055
Junior Lien | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,999	5,783
Junior Lien | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	3,322	4,545
Junior Lien | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	2,684	2,005
Junior Lien | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,009	1,303
Junior Lien | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	5,348	7,127
Junior Lien | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	549,493	582,451
Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	385,432	371,239
Multifamily | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	90,062	76,249
Multifamily | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	73,068	16,287
Multifamily | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	16,782	69,439
Multifamily | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	36,523	66,963
Multifamily | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	63,872	34,383
Multifamily | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	103,774	106,328
Multifamily | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,351	1,590
Nonowner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,465,247	1,421,151
Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	194,137	105,861
Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	98,840	199,280
Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	202,236	161,018
Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	173,053	214,915
Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	177,295	217,883
Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	615,943	518,052
Nonowner Occupied Commercial Real Estate | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	3,743	4,142
Owner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	400,418	419,179
Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	77,710	59,519
Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	62,380	72,313
Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	53,954	61,079
Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	34,115	40,796
Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	32,989	27,415
Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	134,713	152,555
Owner Occupied Commercial Real Estate | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	4,557	5,502
Automobile Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	901,280	712,800
Automobile Loan | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	456,730	350,293
Automobile Loan | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	252,518	202,923
Automobile Loan | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	122,943	96,355
Automobile Loan | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	48,375	45,218
Automobile Loan | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	17,230	14,285
Automobile Loan | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	3,484	3,726
Automobile Loan | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Consumer Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	11,151	12,360
Consumer Credit Cards | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Consumer Credit Cards | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Consumer Credit Cards | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Consumer Credit Cards | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Consumer Credit Cards | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Consumer Credit Cards | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Consumer Credit Cards | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	11,151	12,360
Other consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	87,544	90,655
Other consumer loans | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	22,156	7,814
Other consumer loans | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	4,655	14,464
Other consumer loans | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	8,030	10,752
Other consumer loans | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	5,084	1,965
Other consumer loans | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	542	711
Other consumer loans | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	5,503	6,383
Other consumer loans | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	41,574	48,566
Pass [Member] | Time and demand loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,107,306	1,477,312
Pass [Member] | Time and demand loans | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	280,854	597,405
Pass [Member] | Time and demand loans | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	125,728	189,834
Pass [Member] | Time and demand loans | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	128,080	140,473
Pass [Member] | Time and demand loans | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	83,204	63,137
Pass [Member] | Time and demand loans | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	31,472	68,007
Pass [Member] | Time and demand loans | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	102,399	65,418
Pass [Member] | Time and demand loans | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	355,569	353,038
Pass [Member] | Commercial credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	13,928	14,604
Pass [Member] | Commercial credit cards | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Pass [Member] | Commercial credit cards | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Pass [Member] | Commercial credit cards | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Pass [Member] | Commercial credit cards | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Pass [Member] | Commercial credit cards | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Pass [Member] | Commercial credit cards | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Pass [Member] | Commercial credit cards | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	13,928	14,604
Pass [Member] | Real Estate Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	493,913	426,663
Pass [Member] | Real Estate Construction | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	201,992	150,493
Pass [Member] | Real Estate Construction | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	128,824	133,195
Pass [Member] | Real Estate Construction | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	123,153	104,167
Pass [Member] | Real Estate Construction | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	38,267	34,803
Pass [Member] | Real Estate Construction | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	441	389
Pass [Member] | Real Estate Construction | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	796	709
Pass [Member] | Real Estate Construction | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	440	2,907
Pass [Member] | Senior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,295,524	1,138,409
Pass [Member] | Senior Lien | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	376,095	316,028
Pass [Member] | Senior Lien | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	375,885	184,533
Pass [Member] | Senior Lien | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	126,618	142,467
Pass [Member] | Senior Lien | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	84,079	110,260
Pass [Member] | Senior Lien | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	74,135	91,059
Pass [Member] | Senior Lien | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	256,815	292,158
Pass [Member] | Senior Lien | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,897	1,904
Pass [Member] | Junior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	617,540	602,583
Pass [Member] | Junior Lien | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	56,861	3,055
Pass [Member] | Junior Lien | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,999	5,698
Pass [Member] | Junior Lien | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	3,246	4,545
Pass [Member] | Junior Lien | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	2,684	2,005
Pass [Member] | Junior Lien | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,009	1,303
Pass [Member] | Junior Lien | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	5,195	6,909
Pass [Member] | Junior Lien | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	546,546	579,068
Pass [Member] | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	355,702	369,883
Pass [Member] | Multifamily | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	90,062	76,249
Pass [Member] | Multifamily | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	73,068	16,287
Pass [Member] | Multifamily | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	16,782	69,439
Pass [Member] | Multifamily | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	21,846	66,963
Pass [Member] | Multifamily | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	49,832	34,383
Pass [Member] | Multifamily | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	102,761	104,972
Pass [Member] | Multifamily | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,351	1,590
Pass [Member] | Nonowner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,368,922	1,216,252
Pass [Member] | Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	194,137	105,861
Pass [Member] | Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	98,840	190,301
Pass [Member] | Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	202,236	139,643
Pass [Member] | Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	155,293	181,659
Pass [Member] | Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	152,174	175,148
Pass [Member] | Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	563,743	419,900
Pass [Member] | Nonowner Occupied Commercial Real Estate | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	2,499	3,740
Pass [Member] | Owner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	388,499	397,123
Pass [Member] | Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	77,710	58,551
Pass [Member] | Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	59,973	70,726
Pass [Member] | Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	51,513	55,478
Pass [Member] | Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	33,623	39,351
Pass [Member] | Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	31,644	26,359
Pass [Member] | Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	129,593	141,376
Pass [Member] | Owner Occupied Commercial Real Estate | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	4,443	5,282
Pass [Member] | Automobile Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	901,132	712,539
Pass [Member] | Automobile Loan | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	456,730	350,293
Pass [Member] | Automobile Loan | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	252,518	202,827
Pass [Member] | Automobile Loan | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	122,867	96,336
Pass [Member] | Automobile Loan | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	48,361	45,187
Pass [Member] | Automobile Loan | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	17,224	14,255
Pass [Member] | Automobile Loan | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	3,432	3,641
Pass [Member] | Automobile Loan | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Pass [Member] | Consumer Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	11,151	12,360
Pass [Member] | Consumer Credit Cards | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Pass [Member] | Consumer Credit Cards | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Pass [Member] | Consumer Credit Cards | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Pass [Member] | Consumer Credit Cards | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Pass [Member] | Consumer Credit Cards | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Pass [Member] | Consumer Credit Cards | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Pass [Member] | Consumer Credit Cards | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	11,151	12,360
Pass [Member] | Other consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	87,487	90,642
Pass [Member] | Other consumer loans | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	22,156	7,814
Pass [Member] | Other consumer loans | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	4,655	14,464
Pass [Member] | Other consumer loans | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	8,030	10,752
Pass [Member] | Other consumer loans | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	5,084	1,965
Pass [Member] | Other consumer loans | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	542	711
Pass [Member] | Other consumer loans | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	5,460	6,373
Pass [Member] | Other consumer loans | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	41,560	48,563
Special Mention [Member] | Time and demand loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	33,765	48,233
Special Mention [Member] | Time and demand loans | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	390	93
Special Mention [Member] | Time and demand loans | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	596	3,373
Special Mention [Member] | Time and demand loans | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,125	972
Special Mention [Member] | Time and demand loans | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	7,780	8,820
Special Mention [Member] | Time and demand loans | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	13,945	6,182
Special Mention [Member] | Time and demand loans | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	7,126	8,043
Special Mention [Member] | Time and demand loans | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	2,803	20,750
Special Mention [Member] | Real Estate Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	498	504
Special Mention [Member] | Real Estate Construction | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	24	0
Special Mention [Member] | Real Estate Construction | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	474	0
Special Mention [Member] | Real Estate Construction | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Special Mention [Member] | Real Estate Construction | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Special Mention [Member] | Real Estate Construction | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Special Mention [Member] | Real Estate Construction | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	246
Special Mention [Member] | Real Estate Construction | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	258
Special Mention [Member] | Senior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	905	1,780
Special Mention [Member] | Senior Lien | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Special Mention [Member] | Senior Lien | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Special Mention [Member] | Senior Lien | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	83
Special Mention [Member] | Senior Lien | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	67	0
Special Mention [Member] | Senior Lien | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	100
Special Mention [Member] | Senior Lien | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	761	1,520
Special Mention [Member] | Senior Lien | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	77	77
Special Mention [Member] | Junior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	71	122
Special Mention [Member] | Junior Lien | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Special Mention [Member] | Junior Lien | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Special Mention [Member] | Junior Lien | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Special Mention [Member] | Junior Lien | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Special Mention [Member] | Junior Lien | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Special Mention [Member] | Junior Lien | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	61	112
Special Mention [Member] | Junior Lien | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	10	10
Special Mention [Member] | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	14,565	131
Special Mention [Member] | Multifamily | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Special Mention [Member] | Multifamily | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Special Mention [Member] | Multifamily | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Special Mention [Member] | Multifamily | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Special Mention [Member] | Multifamily | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	14,040	0
Special Mention [Member] | Multifamily | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	525	131
Special Mention [Member] | Multifamily | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Special Mention [Member] | Nonowner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	63,783	161,336
Special Mention [Member] | Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Special Mention [Member] | Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	8,979
Special Mention [Member] | Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	21,375
Special Mention [Member] | Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	3,723	26,339
Special Mention [Member] | Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	19,235	37,762
Special Mention [Member] | Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	39,737	66,752
Special Mention [Member] | Nonowner Occupied Commercial Real Estate | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,088	129
Special Mention [Member] | Owner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	6,976	14,528
Special Mention [Member] | Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	968
Special Mention [Member] | Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	2,194	684
Special Mention [Member] | Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,220	4,736
Special Mention [Member] | Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	492	1,421
Special Mention [Member] | Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,321	114
Special Mention [Member] | Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,716	6,572
Special Mention [Member] | Owner Occupied Commercial Real Estate | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	33	33
Substandard [Member] | Time and demand loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	18,453	15,837
Substandard [Member] | Time and demand loans | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	555
Substandard [Member] | Time and demand loans | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	79	394
Substandard [Member] | Time and demand loans | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	13,825	779
Substandard [Member] | Time and demand loans | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	134	320
Substandard [Member] | Time and demand loans | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	25	39
Substandard [Member] | Time and demand loans | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,602	9,852
Substandard [Member] | Time and demand loans | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	2,788	3,898
Substandard [Member] | Real Estate Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	45	54
Substandard [Member] | Real Estate Construction | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Real Estate Construction | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Real Estate Construction | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Real Estate Construction | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Real Estate Construction | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Real Estate Construction | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	45	54
Substandard [Member] | Real Estate Construction | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Senior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	3,105	4,134
Substandard [Member] | Senior Lien | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	11	24
Substandard [Member] | Senior Lien | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	19	17
Substandard [Member] | Senior Lien | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	170	273
Substandard [Member] | Senior Lien | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	338	105
Substandard [Member] | Senior Lien | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	133	336
Substandard [Member] | Senior Lien | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	2,434	3,379
Substandard [Member] | Senior Lien | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Junior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	3,105	3,564
Substandard [Member] | Junior Lien | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Junior Lien | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	85
Substandard [Member] | Junior Lien | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	76	0
Substandard [Member] | Junior Lien | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Junior Lien | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Junior Lien | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	92	106
Substandard [Member] | Junior Lien | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	2,937	3,373
Substandard [Member] | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	15,165	1,225
Substandard [Member] | Multifamily | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Multifamily | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Multifamily | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Multifamily | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	14,677	0
Substandard [Member] | Multifamily | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Multifamily | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	488	1,225
Substandard [Member] | Multifamily | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Nonowner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	32,542	43,563
Substandard [Member] | Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	14,037	6,917
Substandard [Member] | Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	5,886	4,973
Substandard [Member] | Nonowner Occupied Commercial Real Estate | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	12,463	31,400
Substandard [Member] | Nonowner Occupied Commercial Real Estate | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	156	273
Substandard [Member] | Owner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	4,943	7,528
Substandard [Member] | Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	213	903
Substandard [Member] | Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,221	865
Substandard [Member] | Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	24
Substandard [Member] | Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	24	942
Substandard [Member] | Owner Occupied Commercial Real Estate | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	3,404	4,607
Substandard [Member] | Owner Occupied Commercial Real Estate | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	81	187
Substandard [Member] | Automobile Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	148	261
Substandard [Member] | Automobile Loan | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Automobile Loan | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	96
Substandard [Member] | Automobile Loan | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	76	19
Substandard [Member] | Automobile Loan | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	14	31
Substandard [Member] | Automobile Loan | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	6	30
Substandard [Member] | Automobile Loan | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	52	85
Substandard [Member] | Automobile Loan | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Other consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	57	13
Substandard [Member] | Other consumer loans | Term Loan Receivable, Originated in 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Other consumer loans | Term Loan Receivable, Originated in 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Other consumer loans | Term Loan Receivable, Originated in 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Other consumer loans | Term Loan Receivable, Originated in 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Other consumer loans | Term Loan Receivable, Originated in 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Substandard [Member] | Other consumer loans | Term Loan Receivable, Originated Prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	43	10
Substandard [Member] | Other consumer loans | Revolving Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	$ 14	$ 3

XML

Loans and Allowance for Credit Losses - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) Contract	Dec. 31, 2020 USD ($) Contract	Dec. 31, 2019 USD ($) Contract
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non Accrual Status Of Loans After Number Of Days Past Due	90 days
Loans Receivable Held-for-sale, Amount	$ 18,583	$ 33,436
Provision for credit losses	(377)	53,472
Charge-offs	13,058	19,250
Recorded Investment	$ 55,180	$ 54,053
Number of loans modified | Contract	30	41	38
Total amount of loan modified	$ 1,690	$ 13,969	$ 1,928
Total gains or losses included in earnings		0
Loans with modification to rate and payment due to amortization	$ 400	800	800
Minimum days required for conversion of trouble debt to be in default	90 days
Unearned Deferred (Fees) Costs on Loans	$ (800)	(6,000)
Unearned Premiums	(6,000)	(7,000)
Loans	6,839,230	6,761,183	6,189,148
Loans and Leases Receivable, Gross	$ 6,839,230	6,761,183
Forecasted Value, National Unemployment, Percent	4.34%
Weighted Average [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Forecasted Value, National Unemployment, Percent	4.75%
Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Forecasted Value, National Unemployment, Percent	4.91%
Total Deferrals Still in Forbearance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	$ 6,200
Impaired Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unfunded commitments related to nonperforming loans	$ 200	200
Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non Accrual Status Of Loans After Number Of Days Past Due	150 days
Nonaccrual Commercial Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable Held-for-sale, Amount	$ 0	13
Gain (loss) on sale of impaired loans	400	0	$ 400
SEC Schedule, 12-09, Reserve, Off-balance Sheet Activity [Member] | Impaired Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Off balance sheet reserve to nonperforming loans	0	26
Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,173,452	1,555,986
Loans and Leases Receivable, Gross	1,173,452	1,555,986
Commercial Loan [Member] | Payroll Protection Program Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 71,300	$ 478,900

XML

Loans and Allowance for Credit Losses - Age Analysis of Past Due Loans by Segment (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	$ 6,839,230	$ 6,761,183
Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	999,975	815,815
Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,173,452	1,555,986
Real Estate Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	494,456	427,221
Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,920,250	1,750,592
Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	2,251,097	2,211,569
Time and demand loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,159,524	1,541,382
Time and demand loans | Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,159,524	1,541,382
Commercial credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	13,928	14,604
Commercial credit cards | Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	13,928	14,604
Senior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,299,534	1,144,323
Senior Lien | Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,299,534	1,144,323
Junior Lien
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	620,716	606,269
Junior Lien | Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	620,716	606,269
Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	385,432	371,239
Multifamily | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	385,432	371,239
Nonowner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,465,247	1,421,151
Nonowner Occupied Commercial Real Estate | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,465,247	1,421,151
Owner Occupied Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	400,418	419,179
Owner Occupied Commercial Real Estate | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	400,418	419,179
Automobile Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	901,280	712,800
Automobile Loan | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	901,280	712,800
Consumer Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	11,151	12,360
Consumer Credit Cards | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	11,151	12,360
Other consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	87,544	90,655
Other consumer loans | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	87,544	90,655
Financial Asset, 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	6,450	8,072
Financial Asset, 30 to 59 Days Past Due [Member] | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,611	2,870
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	633	146
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	813	936
Financial Asset, 30 to 59 Days Past Due [Member] | Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	3,393	3,883
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	237
Financial Asset, 30 to 59 Days Past Due [Member] | Time and demand loans | Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	605	97
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial credit cards | Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	28	49
Financial Asset, 30 to 59 Days Past Due [Member] | Senior Lien | Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,934	1,775
Financial Asset, 30 to 59 Days Past Due [Member] | Junior Lien | Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,459	2,108
Financial Asset, 30 to 59 Days Past Due [Member] | Multifamily | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Financial Asset, 30 to 59 Days Past Due [Member] | Nonowner Occupied Commercial Real Estate | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	18
Financial Asset, 30 to 59 Days Past Due [Member] | Owner Occupied Commercial Real Estate | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	219
Financial Asset, 30 to 59 Days Past Due [Member] | Automobile Loan | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,228	2,090
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Credit Cards | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	36	52
Financial Asset, 30 to 59 Days Past Due [Member] | Other consumer loans | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	347	728
Financial Asset, 60 to 89 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	2,461	2,566
Financial Asset, 60 to 89 Days Past Due [Member] | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	417	852
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	987	62
Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Financial Asset, 60 to 89 Days Past Due [Member] | Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	983	1,492
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	74	160
Financial Asset, 60 to 89 Days Past Due [Member] | Time and demand loans | Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	972	28
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial credit cards | Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	15	34
Financial Asset, 60 to 89 Days Past Due [Member] | Senior Lien | Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	354	660
Financial Asset, 60 to 89 Days Past Due [Member] | Junior Lien | Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	629	832
Financial Asset, 60 to 89 Days Past Due [Member] | Multifamily | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Financial Asset, 60 to 89 Days Past Due [Member] | Nonowner Occupied Commercial Real Estate | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	104
Financial Asset, 60 to 89 Days Past Due [Member] | Owner Occupied Commercial Real Estate | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	74	56
Financial Asset, 60 to 89 Days Past Due [Member] | Automobile Loan | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	175	417
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Credit Cards | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	44	39
Financial Asset, 60 to 89 Days Past Due [Member] | Other consumer loans | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	198	396
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,606	1,523
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	785	639
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	155	112
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	448	0
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	218	769
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	3
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Time and demand loans | Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	144	23
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial credit cards | Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	11	89
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Senior Lien | Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	51	267
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Junior Lien | Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	167	502
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Multifamily | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Nonowner Occupied Commercial Real Estate | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Owner Occupied Commercial Real Estate | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	3
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Automobile Loan | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	199	94
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Credit Cards | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	63	123
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Other consumer loans | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	523	422
Nonaccrual Commercial Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	48,060	45,541
Nonaccrual Commercial Loans [Member] | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	206	274
Nonaccrual Commercial Loans [Member] | Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	2,006	3,317
Nonaccrual Commercial Loans [Member] | Real Estate Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	45	54
Nonaccrual Commercial Loans [Member] | Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	5,608	6,824
Nonaccrual Commercial Loans [Member] | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	40,195	35,072
Nonaccrual Commercial Loans [Member] | Time and demand loans | Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	2,006	3,317
Nonaccrual Commercial Loans [Member] | Commercial credit cards | Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Nonaccrual Commercial Loans [Member] | Senior Lien | Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	2,706	3,489
Nonaccrual Commercial Loans [Member] | Junior Lien | Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	2,902	3,335
Nonaccrual Commercial Loans [Member] | Multifamily | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	15,097	460
Nonaccrual Commercial Loans [Member] | Nonowner Occupied Commercial Real Estate | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	23,930	31,822
Nonaccrual Commercial Loans [Member] | Owner Occupied Commercial Real Estate | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,168	2,790
Nonaccrual Commercial Loans [Member] | Automobile Loan | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	148	261
Nonaccrual Commercial Loans [Member] | Consumer Credit Cards | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	0	0
Nonaccrual Commercial Loans [Member] | Other consumer loans | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	58	13
Financial Asset, Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	58,577	57,702
Financial Asset, Past Due | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	3,019	4,635
Financial Asset, Past Due | Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	3,781	3,637
Financial Asset, Past Due | Real Estate Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,306	990
Financial Asset, Past Due | Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	10,202	12,968
Financial Asset, Past Due | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	40,269	35,472
Financial Asset, Past Due | Time and demand loans | Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	3,727	3,465
Financial Asset, Past Due | Commercial credit cards | Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	54	172
Financial Asset, Past Due | Senior Lien | Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	5,045	6,191
Financial Asset, Past Due | Junior Lien | Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	5,157	6,777
Financial Asset, Past Due | Multifamily | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	15,097	460
Financial Asset, Past Due | Nonowner Occupied Commercial Real Estate | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	23,930	31,944
Financial Asset, Past Due | Owner Occupied Commercial Real Estate | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,242	3,068
Financial Asset, Past Due | Automobile Loan | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,750	2,862
Financial Asset, Past Due | Consumer Credit Cards | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	143	214
Financial Asset, Past Due | Other consumer loans | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,126	1,559
Financial Asset, Not Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	6,780,653	6,703,481
Financial Asset, Not Past Due | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	996,956	811,180
Financial Asset, Not Past Due | Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,169,671	1,552,349
Financial Asset, Not Past Due | Real Estate Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	493,150	426,231
Financial Asset, Not Past Due | Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,910,048	1,737,624
Financial Asset, Not Past Due | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	2,210,828	2,176,097
Financial Asset, Not Past Due | Time and demand loans | Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,155,797	1,537,917
Financial Asset, Not Past Due | Commercial credit cards | Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	13,874	14,432
Financial Asset, Not Past Due | Senior Lien | Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,294,489	1,138,132
Financial Asset, Not Past Due | Junior Lien | Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	615,559	599,492
Financial Asset, Not Past Due | Multifamily | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	370,335	370,779
Financial Asset, Not Past Due | Nonowner Occupied Commercial Real Estate | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	1,441,317	1,389,207
Financial Asset, Not Past Due | Owner Occupied Commercial Real Estate | Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	399,176	416,111
Financial Asset, Not Past Due | Automobile Loan | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	899,530	709,938
Financial Asset, Not Past Due | Consumer Credit Cards | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	11,008	12,146
Financial Asset, Not Past Due | Other consumer loans | Loans To Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, before allowance for credit loss	$ 86,418	$ 89,096

XML

Loans and Allowance for Credit Losses - Recorded Investment and Unpaid Principal Balance for Impaired Loans with Associated Allowance (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Impaired [Line Items]
Recorded Investment	$ 55,180	$ 54,053
Unpaid Principal Balance	64,720	65,331
Related Allowance	395	4,906
Average Recorded Investment	47,071	50,728
Interest Income Recognized	898	639
Commercial Financial Agricultural And Other With No Related Allowance [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	3,720	2,025
Unpaid Principal Balance	10,303	2,725
Average Recorded Investment	9,240	6,371
Interest Income Recognized	389	80
Commercial Financial Agricultural And Other With No Related Allowance [Member] | Time and demand loans
Financing Receivable, Impaired [Line Items]
Recorded Investment	3,720	2,025
Unpaid Principal Balance	10,303	2,725
Average Recorded Investment	9,240	6,371
Interest Income Recognized	389	80
Real Estate Construction With No Related Allowance [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	45	54
Unpaid Principal Balance	53	53
Average Recorded Investment	53	146
Interest Income Recognized	0	14
Residential real estate with no related allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	9,365	10,939
Unpaid Principal Balance	11,294	13,258
Average Recorded Investment	10,315	11,913
Interest Income Recognized	375	335
Residential real estate with no related allowance recorded [Member] | Senior Lien
Financing Receivable, Impaired [Line Items]
Recorded Investment	5,200	6,062
Unpaid Principal Balance	6,337	7,575
Average Recorded Investment	5,674	6,605
Interest Income Recognized	279	241
Residential real estate with no related allowance recorded [Member] | Junior Lien
Financing Receivable, Impaired [Line Items]
Recorded Investment	4,165	4,877
Unpaid Principal Balance	4,957	5,683
Average Recorded Investment	4,641	5,308
Interest Income Recognized	96	94
Commercial Real Estate With No Related Allowance [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	40,591	20,650
Unpaid Principal Balance	41,525	23,641
Average Recorded Investment	26,235	22,287
Interest Income Recognized	119	184
Commercial Real Estate With No Related Allowance [Member] | Multifamily
Financing Receivable, Impaired [Line Items]
Recorded Investment	14,677	1
Unpaid Principal Balance	14,677	82
Average Recorded Investment	1,223	1
Interest Income Recognized	0	0
Commercial Real Estate With No Related Allowance [Member] | Nonowner Occupied Commercial Real Estate
Financing Receivable, Impaired [Line Items]
Recorded Investment	24,581	16,786
Unpaid Principal Balance	25,310	19,459
Average Recorded Investment	22,668	18,536
Interest Income Recognized	28	82
Commercial Real Estate With No Related Allowance [Member] | Owner Occupied Commercial Real Estate
Financing Receivable, Impaired [Line Items]
Recorded Investment	1,333	3,863
Unpaid Principal Balance	1,538	4,100
Average Recorded Investment	2,344	3,750
Interest Income Recognized	91	102
Loans To Individuals With No Related Allowance [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	446	418
Unpaid Principal Balance	485	447
Average Recorded Investment	479	470
Interest Income Recognized	15	13
Loans To Individuals With No Related Allowance [Member] | Automobiles
Financing Receivable, Impaired [Line Items]
Recorded Investment	388	405
Unpaid Principal Balance	422	430
Average Recorded Investment	425	447
Interest Income Recognized	15	13
Loans To Individuals With No Related Allowance [Member] | Other consumer loans
Financing Receivable, Impaired [Line Items]
Recorded Investment	58	13
Unpaid Principal Balance	63	17
Average Recorded Investment	54	23
Interest Income Recognized	0	0
Subtotal with no related allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	54,167	34,086
Unpaid Principal Balance	63,660	40,124
Average Recorded Investment	46,322	41,187
Interest Income Recognized	898	626
Commercial, financial, agricultural and other With an allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	327	4,210
Unpaid Principal Balance	349	9,377
Related Allowance	307	1,268
Average Recorded Investment	84	1,544
Interest Income Recognized	0	3
Commercial, financial, agricultural and other With an allowance recorded [Member] | Time and demand loans
Financing Receivable, Impaired [Line Items]
Recorded Investment	327	4,210
Unpaid Principal Balance	349	9,377
Related Allowance	307	1,268
Average Recorded Investment	84	1,544
Interest Income Recognized	0	3
Real estate construction with an allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Residential real estate With an allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Residential real estate With an allowance recorded [Member] | Senior Lien
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Residential real estate With an allowance recorded [Member] | Junior Lien
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Commercial real estate With an allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	686	15,757
Unpaid Principal Balance	711	15,830
Related Allowance	88	3,638
Average Recorded Investment	665	7,997
Interest Income Recognized	0	10
Commercial real estate With an allowance recorded [Member] | Multifamily
Financing Receivable, Impaired [Line Items]
Recorded Investment	421	459
Unpaid Principal Balance	446	470
Related Allowance	88	116
Average Recorded Investment	444	395
Interest Income Recognized	0	0
Commercial real estate With an allowance recorded [Member] | Nonowner Occupied Commercial Real Estate
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	15,060
Unpaid Principal Balance	0	15,122
Related Allowance	0	3,508
Average Recorded Investment	0	7,363
Interest Income Recognized	0	0
Commercial real estate With an allowance recorded [Member] | Owner Occupied Commercial Real Estate
Financing Receivable, Impaired [Line Items]
Recorded Investment	265	238
Unpaid Principal Balance	265	238
Related Allowance	0	14
Average Recorded Investment	221	239
Interest Income Recognized	0	10
Loans to individuals With an allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Loans to individuals With an allowance recorded [Member] | Automobiles
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Loans to individuals With an allowance recorded [Member] | Other consumer loans
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Subtotal With an allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	1,013	19,967
Unpaid Principal Balance	1,060	25,207
Related Allowance	395	4,906
Average Recorded Investment	749	9,541
Interest Income Recognized	$ 0	$ 13
Originated Loans [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			$ 27,154
Interest Income Recognized			684
Originated Loans [Member] | Commercial Financial Agricultural And Other With No Related Allowance [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			2,411
Interest Income Recognized			66
Originated Loans [Member] | Real Estate Construction With No Related Allowance [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			0
Interest Income Recognized			0
Originated Loans [Member] | Residential real estate with no related allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			10,819
Interest Income Recognized			365
Originated Loans [Member] | Commercial Real Estate With No Related Allowance [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			7,455
Interest Income Recognized			156
Originated Loans [Member] | Loans To Individuals With No Related Allowance [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			371
Interest Income Recognized			17
Originated Loans [Member] | Subtotal with no related allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			21,056
Interest Income Recognized			604
Originated Loans [Member] | Commercial, financial, agricultural and other With an allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			4,110
Interest Income Recognized			77
Originated Loans [Member] | Real estate construction with an allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			0
Interest Income Recognized			0
Originated Loans [Member] | Residential real estate With an allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			241
Interest Income Recognized			0
Originated Loans [Member] | Commercial real estate With an allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			1,747
Interest Income Recognized			3
Originated Loans [Member] | Loans to individuals With an allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			0
Interest Income Recognized			0
Originated Loans [Member] | Subtotal With an allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			6,098
Interest Income Recognized			80
Acquired Loans [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			5,225
Interest Income Recognized			26
Acquired Loans [Member] | Commercial Financial Agricultural And Other With No Related Allowance [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			2,479
Interest Income Recognized			0
Acquired Loans [Member] | Real Estate Construction With No Related Allowance [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			0
Interest Income Recognized			0
Acquired Loans [Member] | Residential real estate with no related allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			1,986
Interest Income Recognized			8
Acquired Loans [Member] | Commercial Real Estate With No Related Allowance [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			747
Interest Income Recognized			18
Acquired Loans [Member] | Loans To Individuals With No Related Allowance [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			13
Interest Income Recognized			0
Acquired Loans [Member] | Subtotal with no related allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			5,225
Interest Income Recognized			26
Acquired Loans [Member] | Commercial, financial, agricultural and other With an allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			0
Interest Income Recognized			0
Acquired Loans [Member] | Real estate construction with an allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			0
Interest Income Recognized			0
Acquired Loans [Member] | Residential real estate With an allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			0
Interest Income Recognized			0
Acquired Loans [Member] | Commercial real estate With an allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			0
Interest Income Recognized			0
Acquired Loans [Member] | Loans to individuals With an allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			0
Interest Income Recognized			0
Acquired Loans [Member] | Subtotal With an allowance recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			0
Interest Income Recognized			$ 0

XML

Loans and Allowance for Credit Losses - Troubled Debt Restructured Loans and Commitments (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Loans and Leases Receivable Disclosure [Abstract]
Accrual status	$ 7,120	$ 8,512	$ 7,542
Nonaccrual status	13,134	14,740	6,037
Total	20,254	23,252	13,579
Letters of Credit Outstanding, Amount	60	60	60
Unused lines of credit	16	11	163
Commitments Net	$ 76	$ 71	$ 223

XML

Loans and Allowance for Credit Losses - Troubled Debt Restructurings Identified During Period (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) Contract	Dec. 31, 2020 USD ($) Contract	Dec. 31, 2019 USD ($) Contract
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Number of Contracts | Contract	30	41	38
Financing Receivable, Troubled Debt Restructuring, Premodification	$ 9,370	$ 14,874	$ 8,302
Financing Receivable, Troubled Debt Restructuring	1,690	13,969	1,928
Financing Receivable Troubled Debt Restructuring Specific Reserve	0	636	0
Contractual Payment Modification [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	8,901	14,098	7,525
Contractual Interest Rate Reduction [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	469	776	760
Extended Maturity [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	$ 0	$ 0	$ 17
Commercial Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Number of Contracts | Contract	6	4	2
Financing Receivable, Troubled Debt Restructuring, Premodification	$ 7,893	$ 2,805	$ 156
Financing Receivable, Troubled Debt Restructuring	288	2,196	154
Financing Receivable Troubled Debt Restructuring Specific Reserve	$ 0	$ 636	0
Commercial Loan [Member] | Time and demand loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Number of Contracts | Contract	6	4
Financing Receivable, Troubled Debt Restructuring, Premodification	$ 7,893	$ 2,805
Financing Receivable, Troubled Debt Restructuring	288	2,196
Financing Receivable Troubled Debt Restructuring Specific Reserve	0	636
Commercial Loan [Member] | Contractual Payment Modification [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	7,893	2,176	156
Commercial Loan [Member] | Contractual Payment Modification [Member] | Time and demand loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	7,893	2,176
Commercial Loan [Member] | Contractual Interest Rate Reduction [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	0	629	0
Commercial Loan [Member] | Contractual Interest Rate Reduction [Member] | Time and demand loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	0	629
Commercial Loan [Member] | Extended Maturity [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	0	0	$ 0
Commercial Loan [Member] | Extended Maturity [Member] | Time and demand loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	$ 0	$ 0
Residential Real Estate [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Number of Contracts | Contract	15	18	20
Financing Receivable, Troubled Debt Restructuring, Premodification	$ 660	$ 950	$ 1,186
Financing Receivable, Troubled Debt Restructuring	624	791	1,059
Financing Receivable Troubled Debt Restructuring Specific Reserve	$ 0	$ 0	0
Residential Real Estate [Member] | Senior Lien
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Number of Contracts | Contract	12	9
Financing Receivable, Troubled Debt Restructuring, Premodification	$ 530	$ 546
Financing Receivable, Troubled Debt Restructuring	502	411
Financing Receivable Troubled Debt Restructuring Specific Reserve	$ 0	$ 0
Residential Real Estate [Member] | Junior Lien
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Number of Contracts | Contract	3	9
Financing Receivable, Troubled Debt Restructuring, Premodification	$ 130	$ 404
Financing Receivable, Troubled Debt Restructuring	122	380
Financing Receivable Troubled Debt Restructuring Specific Reserve	0	0
Residential Real Estate [Member] | Contractual Payment Modification [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	301	917	965
Residential Real Estate [Member] | Contractual Payment Modification [Member] | Senior Lien
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	171	513
Residential Real Estate [Member] | Contractual Payment Modification [Member] | Junior Lien
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	130	404
Residential Real Estate [Member] | Contractual Interest Rate Reduction [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	359	33	204
Residential Real Estate [Member] | Contractual Interest Rate Reduction [Member] | Senior Lien
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	359	33
Residential Real Estate [Member] | Contractual Interest Rate Reduction [Member] | Junior Lien
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	0	0
Residential Real Estate [Member] | Extended Maturity [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	0	0	$ 17
Residential Real Estate [Member] | Extended Maturity [Member] | Senior Lien
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	0	0
Residential Real Estate [Member] | Extended Maturity [Member] | Junior Lien
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	$ 0	$ 0
Commercial Real Estate [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Number of Contracts | Contract	2	5	5
Financing Receivable, Troubled Debt Restructuring, Premodification	$ 644	$ 10,857	$ 6,817
Financing Receivable, Troubled Debt Restructuring	634	10,758	594
Financing Receivable Troubled Debt Restructuring Specific Reserve	$ 0	$ 0	0
Commercial Real Estate [Member] | Nonowner Occupied Commercial Real Estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Number of Contracts | Contract	2	4
Financing Receivable, Troubled Debt Restructuring, Premodification	$ 644	$ 10,289
Financing Receivable, Troubled Debt Restructuring	634	10,263
Financing Receivable Troubled Debt Restructuring Specific Reserve	$ 0	$ 0
Commercial Real Estate [Member] | Owner Occupied Commercial Real Estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Number of Contracts | Contract	0	1
Financing Receivable, Troubled Debt Restructuring, Premodification	$ 0	$ 568
Financing Receivable, Troubled Debt Restructuring	0	495
Financing Receivable Troubled Debt Restructuring Specific Reserve	0	0
Commercial Real Estate [Member] | Contractual Payment Modification [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	644	10,857	6,261
Commercial Real Estate [Member] | Contractual Payment Modification [Member] | Nonowner Occupied Commercial Real Estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	644	10,289
Commercial Real Estate [Member] | Contractual Payment Modification [Member] | Owner Occupied Commercial Real Estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	0	568
Commercial Real Estate [Member] | Contractual Interest Rate Reduction [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	0	0	556
Commercial Real Estate [Member] | Contractual Interest Rate Reduction [Member] | Nonowner Occupied Commercial Real Estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	0	0
Commercial Real Estate [Member] | Contractual Interest Rate Reduction [Member] | Owner Occupied Commercial Real Estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	0	0
Commercial Real Estate [Member] | Extended Maturity [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	0	0	$ 0
Commercial Real Estate [Member] | Extended Maturity [Member] | Nonowner Occupied Commercial Real Estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	0	0
Commercial Real Estate [Member] | Extended Maturity [Member] | Owner Occupied Commercial Real Estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	$ 0	$ 0
Loans To Individuals [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Number of Contracts | Contract	7	14	11
Financing Receivable, Troubled Debt Restructuring, Premodification	$ 173	$ 262	$ 143
Financing Receivable, Troubled Debt Restructuring	144	224	121
Financing Receivable Troubled Debt Restructuring Specific Reserve	$ 0	$ 0	0
Loans To Individuals [Member] | Automobiles
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Number of Contracts | Contract	7	14
Financing Receivable, Troubled Debt Restructuring, Premodification	$ 173	$ 262
Financing Receivable, Troubled Debt Restructuring	144	224
Financing Receivable Troubled Debt Restructuring Specific Reserve	0	0
Loans To Individuals [Member] | Contractual Payment Modification [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	63	148	143
Loans To Individuals [Member] | Contractual Payment Modification [Member] | Automobiles
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	63	148
Loans To Individuals [Member] | Contractual Interest Rate Reduction [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	110	114	0
Loans To Individuals [Member] | Contractual Interest Rate Reduction [Member] | Automobiles
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	110	114
Loans To Individuals [Member] | Extended Maturity [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	0	0	$ 0
Loans To Individuals [Member] | Extended Maturity [Member] | Automobiles
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Premodification	$ 0	$ 0

XML

Loans and Allowance for Credit Losses - Restructured Loans that are Considered to be in Default (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) Contract	Dec. 31, 2020 USD ($) Contract	Dec. 31, 2019 USD ($) Contract
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Contract	2	3	0
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $	$ 244	$ 108	$ 0
Residential Real Estate [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Contract	0	1	0
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $	$ 0	$ 34	$ 0
Loans To Individuals [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Contract	1	2	0
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $	$ 21	$ 74	$ 0
Commercial Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Contract	1	0	0
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $	$ 223	$ 0	$ 0
Automobiles | Loans To Individuals [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Contract	1	2
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $	$ 21	$ 74
Time and demand loans | Commercial Loan [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Contract	1	0
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $	$ 223	$ 0
Junior Lien | Residential Real Estate [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Contract	0	1
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $	$ 0	$ 34

XML

Loans and Allowance for Credit Losses - Allowance for Credit Losses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 101,309	$ 51,637
Ending Balance	92,522	101,309	$ 51,637
Ending balance: individually evaluated for impaired	395	4,906	2,432
Ending balance: collectively evaluated for impaired	92,127	96,403	49,205
Ending balance: individually evaluated for impaired			17,833
Ending balance: collectively evaluated for impaired			6,171,315
Financing receivable, before allowance for credit loss	6,839,230	6,761,183
Financing Receivable, Allowance for Credit Loss, Writeoff	(13,058)	(19,250)
Recoveries	4,648	2,057
Provision for credit losses	(377)	53,472
Loans	6,839,230	6,761,183	6,189,148
Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Ending balance: individually evaluated for impaired	43,531	41,463
Ending balance: collectively evaluated for impaired	6,795,699	6,719,720
Financing receivable, before allowance for credit loss	6,839,230	6,761,183
Time and demand loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Financing receivable, before allowance for credit loss	1,159,524	1,541,382
Commercial credit cards
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Financing receivable, before allowance for credit loss	13,928	14,604
Senior Lien
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Financing receivable, before allowance for credit loss	1,299,534	1,144,323
Junior Lien
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Financing receivable, before allowance for credit loss	620,716	606,269
Multifamily
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Financing receivable, before allowance for credit loss	385,432	371,239
Nonowner Occupied Commercial Real Estate
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Financing receivable, before allowance for credit loss	1,465,247	1,421,151
Owner Occupied Commercial Real Estate
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Financing receivable, before allowance for credit loss	400,418	419,179
Consumer Credit Cards
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Financing receivable, before allowance for credit loss	11,151	12,360
Other consumer loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Financing receivable, before allowance for credit loss	87,544	90,655
Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	13,393
Ending Balance		13,393
Commercial, financial, agricultural and other [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	17,187	20,234
Ending Balance	18,093	17,187	20,234
Ending balance: individually evaluated for impaired	307	1,268	1,580
Ending balance: collectively evaluated for impaired	17,786	15,919	18,654
Ending balance: individually evaluated for impaired			9,246
Ending balance: collectively evaluated for impaired			1,232,607
Financing Receivable, Allowance for Credit Loss, Writeoff	(7,020)	(6,318)
Recoveries	2,430	314
Provision for credit losses	5,496	1,479
Loans			1,241,853
Commercial, financial, agricultural and other [Member] | Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Ending balance: individually evaluated for impaired	3,032	5,411
Ending balance: collectively evaluated for impaired	1,170,420	1,550,575
Financing receivable, before allowance for credit loss	1,173,452	1,555,986
Commercial, financial, agricultural and other [Member] | Time and demand loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	16,838	0
Ending Balance	17,846	16,838	0
Ending balance: individually evaluated for impaired	307	1,268
Ending balance: collectively evaluated for impaired	17,539	15,570
Financing Receivable, Allowance for Credit Loss, Writeoff	(6,845)	(6,220)
Recoveries	2,412	301
Provision for credit losses	5,441	1,515
Commercial, financial, agricultural and other [Member] | Time and demand loans | Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Ending balance: individually evaluated for impaired	3,032	5,411
Ending balance: collectively evaluated for impaired	1,156,492	1,535,971
Financing receivable, before allowance for credit loss	1,159,524	1,541,382
Commercial, financial, agricultural and other [Member] | Commercial credit cards
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	349	0
Ending Balance	247	349	0
Ending balance: individually evaluated for impaired	0	0
Ending balance: collectively evaluated for impaired	247	349
Financing Receivable, Allowance for Credit Loss, Writeoff	(175)	(98)
Recoveries	18	13
Provision for credit losses	55	(36)
Commercial, financial, agricultural and other [Member] | Commercial credit cards | Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Ending balance: individually evaluated for impaired	0	0
Ending balance: collectively evaluated for impaired	13,928	14,604
Financing receivable, before allowance for credit loss	13,928	14,604
Commercial, financial, agricultural and other [Member] | Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	1,478
Ending Balance		1,478
Commercial, financial, agricultural and other [Member] | Cumulative Effect, Period of Adoption, Adjustment | Time and demand loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	21,242
Ending Balance		21,242
Commercial, financial, agricultural and other [Member] | Cumulative Effect, Period of Adoption, Adjustment | Commercial credit cards
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	470
Ending Balance		470
Real Estate Construction [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	7,966	2,558
Ending Balance	4,220	7,966	2,558
Ending balance: individually evaluated for impaired	0	0	0
Ending balance: collectively evaluated for impaired	4,220	7,966	2,558
Ending balance: individually evaluated for impaired			0
Ending balance: collectively evaluated for impaired			449,039
Financing Receivable, Allowance for Credit Loss, Writeoff	(9)	0
Recoveries	155	26
Provision for credit losses	(3,892)	4,820
Loans			449,039
Real Estate Construction [Member] | Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Ending balance: individually evaluated for impaired	0	0
Ending balance: collectively evaluated for impaired	494,456	427,221
Financing receivable, before allowance for credit loss	494,456	427,221
Real Estate Construction [Member] | Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	562
Ending Balance		562
Commercial real estate [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	41,953	19,768
Ending Balance	33,376	41,953	19,768
Ending balance: individually evaluated for impaired	88	3,638	851
Ending balance: collectively evaluated for impaired	33,288	38,315	18,917
Ending balance: individually evaluated for impaired			6,846
Ending balance: collectively evaluated for impaired			2,110,673
Financing Receivable, Allowance for Credit Loss, Writeoff	(1,659)	(4,939)
Recoveries	135	312
Provision for credit losses	(7,053)	27,019
Loans			2,117,519
Commercial real estate [Member] | Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Ending balance: individually evaluated for impaired	40,246	34,947
Ending balance: collectively evaluated for impaired	2,210,851	2,176,622
Financing receivable, before allowance for credit loss	2,251,097	2,211,569
Commercial real estate [Member] | Multifamily
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	6,240	0
Ending Balance	3,561	6,240	0
Ending balance: individually evaluated for impaired	88	116
Ending balance: collectively evaluated for impaired	3,473	6,124
Financing Receivable, Allowance for Credit Loss, Writeoff	(1)	0
Recoveries	0	0
Provision for credit losses	(2,678)	4,593
Commercial real estate [Member] | Multifamily | Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Ending balance: individually evaluated for impaired	15,097	459
Ending balance: collectively evaluated for impaired	370,335	370,780
Financing receivable, before allowance for credit loss	385,432	371,239
Commercial real estate [Member] | Nonowner Occupied Commercial Real Estate
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	28,414	0
Ending Balance	24,838	28,414	0
Ending balance: individually evaluated for impaired	0	3,508
Ending balance: collectively evaluated for impaired	24,838	24,906
Financing Receivable, Allowance for Credit Loss, Writeoff	(1,556)	(4,678)
Recoveries	125	187
Provision for credit losses	(2,145)	20,588
Commercial real estate [Member] | Nonowner Occupied Commercial Real Estate | Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Ending balance: individually evaluated for impaired	24,205	31,450
Ending balance: collectively evaluated for impaired	1,441,042	1,389,701
Financing receivable, before allowance for credit loss	1,465,247	1,421,151
Commercial real estate [Member] | Owner Occupied Commercial Real Estate
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	7,299	0
Ending Balance	4,977	7,299	0
Ending balance: individually evaluated for impaired	0	14
Ending balance: collectively evaluated for impaired	4,977	7,285
Financing Receivable, Allowance for Credit Loss, Writeoff	(102)	(261)
Recoveries	10	125
Provision for credit losses	(2,230)	1,838
Commercial real estate [Member] | Owner Occupied Commercial Real Estate | Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Ending balance: individually evaluated for impaired	944	3,038
Ending balance: collectively evaluated for impaired	399,474	416,141
Financing receivable, before allowance for credit loss	400,418	419,179
Commercial real estate [Member] | Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	(207)
Ending Balance		(207)
Commercial real estate [Member] | Cumulative Effect, Period of Adoption, Adjustment | Multifamily
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	1,647
Ending Balance		1,647
Commercial real estate [Member] | Cumulative Effect, Period of Adoption, Adjustment | Nonowner Occupied Commercial Real Estate
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	12,317
Ending Balance		12,317
Commercial real estate [Member] | Cumulative Effect, Period of Adoption, Adjustment | Owner Occupied Commercial Real Estate
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	5,597
Ending Balance		5,597
Loans To Individuals [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	19,845	4,984
Ending Balance	24,208	19,845	4,984
Ending balance: individually evaluated for impaired	0	0	0
Ending balance: collectively evaluated for impaired	24,208	19,845	4,984
Ending balance: individually evaluated for impaired			0
Ending balance: collectively evaluated for impaired			699,375
Financing Receivable, Allowance for Credit Loss, Writeoff	(4,061)	(6,953)
Recoveries	1,460	991
Provision for credit losses	6,964	16,539
Loans			699,375
Loans To Individuals [Member] | Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Ending balance: individually evaluated for impaired	0	0
Ending balance: collectively evaluated for impaired	999,975	815,815
Financing receivable, before allowance for credit loss	999,975	815,815
Loans To Individuals [Member] | Automobiles
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	16,133	0
Ending Balance	21,392	16,133	0
Ending balance: individually evaluated for impaired	0	0
Ending balance: collectively evaluated for impaired	21,392	16,133
Financing Receivable, Allowance for Credit Loss, Writeoff	(1,792)	(3,954)
Recoveries	1,016	745
Provision for credit losses	6,035	13,236
Loans To Individuals [Member] | Automobiles | Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Ending balance: individually evaluated for impaired	0	0
Ending balance: collectively evaluated for impaired	901,280	712,800
Financing receivable, before allowance for credit loss	901,280	712,800
Loans To Individuals [Member] | Consumer Credit Cards
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	635	0
Ending Balance	496	635	0
Ending balance: individually evaluated for impaired	0	0
Ending balance: collectively evaluated for impaired	496	635
Financing Receivable, Allowance for Credit Loss, Writeoff	(425)	(595)
Recoveries	71	36
Provision for credit losses	215	973
Loans To Individuals [Member] | Consumer Credit Cards | Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Ending balance: individually evaluated for impaired	0	0
Ending balance: collectively evaluated for impaired	11,151	12,360
Financing receivable, before allowance for credit loss	11,151	12,360
Loans To Individuals [Member] | Other consumer loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	3,077	0
Ending Balance	2,320	3,077	0
Ending balance: individually evaluated for impaired	0	0
Ending balance: collectively evaluated for impaired	2,320	3,077
Financing Receivable, Allowance for Credit Loss, Writeoff	(1,844)	(2,404)
Recoveries	373	210
Provision for credit losses	714	2,330
Loans To Individuals [Member] | Other consumer loans | Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Ending balance: individually evaluated for impaired	0	0
Ending balance: collectively evaluated for impaired	87,544	90,655
Financing receivable, before allowance for credit loss	87,544	90,655
Loans To Individuals [Member] | Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	4,284
Ending Balance		4,284
Loans To Individuals [Member] | Cumulative Effect, Period of Adoption, Adjustment | Automobiles
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	6,106
Ending Balance		6,106
Loans To Individuals [Member] | Cumulative Effect, Period of Adoption, Adjustment | Consumer Credit Cards
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	221
Ending Balance		221
Loans To Individuals [Member] | Cumulative Effect, Period of Adoption, Adjustment | Other consumer loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	2,941
Ending Balance		2,941
Residential Real Estate [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	14,358	4,093
Ending Balance	12,625	14,358	4,093
Ending balance: individually evaluated for impaired	0	0	1
Ending balance: collectively evaluated for impaired	12,625	14,358	4,092
Ending balance: individually evaluated for impaired			1,741
Ending balance: collectively evaluated for impaired			1,679,621
Financing Receivable, Allowance for Credit Loss, Writeoff	(309)	(1,040)
Recoveries	468	414
Provision for credit losses	(1,892)	3,615
Loans			1,681,362
Residential Real Estate [Member] | Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Ending balance: individually evaluated for impaired	253	1,105
Ending balance: collectively evaluated for impaired	1,919,997	1,749,487
Financing receivable, before allowance for credit loss	1,920,250	1,750,592
Residential Real Estate [Member] | Senior Lien
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	7,919	0
Ending Balance	7,459	7,919	0
Ending balance: individually evaluated for impaired	0	0
Ending balance: collectively evaluated for impaired	7,459	7,919
Financing Receivable, Allowance for Credit Loss, Writeoff	(60)	(550)
Recoveries	337	296
Provision for credit losses	(737)	847
Residential Real Estate [Member] | Senior Lien | Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Ending balance: individually evaluated for impaired	0	528
Ending balance: collectively evaluated for impaired	1,299,534	1,143,795
Financing receivable, before allowance for credit loss	1,299,534	1,144,323
Residential Real Estate [Member] | Junior Lien
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	6,439	0
Ending Balance	5,166	6,439	0
Ending balance: individually evaluated for impaired	0	0
Ending balance: collectively evaluated for impaired	5,166	6,439
Financing Receivable, Allowance for Credit Loss, Writeoff	(249)	(490)
Recoveries	131	118
Provision for credit losses	(1,155)	2,768
Residential Real Estate [Member] | Junior Lien | Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Ending balance: individually evaluated for impaired	253	577
Ending balance: collectively evaluated for impaired	620,463	605,692
Financing receivable, before allowance for credit loss	620,716	606,269
Residential Real Estate [Member] | Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	7,276
Ending Balance		7,276
Residential Real Estate [Member] | Cumulative Effect, Period of Adoption, Adjustment | Senior Lien
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	7,326
Ending Balance		7,326
Residential Real Estate [Member] | Cumulative Effect, Period of Adoption, Adjustment | Junior Lien
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 4,043
Ending Balance		4,043
Originated Loans [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance		51,585	47,586
Ending Balance			51,585
Financing Receivable, Allowance for Credit Loss, Writeoff			(10,032)
Recoveries			1,449
Provision for credit losses			12,582
Originated Loans [Member] | Commercial, financial, agricultural and other [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance		20,221	19,235
Ending Balance			20,221
Financing Receivable, Allowance for Credit Loss, Writeoff			(2,667)
Recoveries			245
Provision for credit losses			3,408
Originated Loans [Member] | Real Estate Construction [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance		2,558	2,002
Ending Balance			2,558
Financing Receivable, Allowance for Credit Loss, Writeoff			0
Recoveries			158
Provision for credit losses			398
Originated Loans [Member] | Commercial real estate [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance		19,731	18,382
Ending Balance			19,731
Financing Receivable, Allowance for Credit Loss, Writeoff			(632)
Recoveries			189
Provision for credit losses			1,792
Originated Loans [Member] | Loans To Individuals [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance		4,984	4,033
Ending Balance			4,984
Financing Receivable, Allowance for Credit Loss, Writeoff			(5,747)
Recoveries			611
Provision for credit losses			6,087
Originated Loans [Member] | Residential Real Estate [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance		4,091	3,934
Ending Balance			4,091
Financing Receivable, Allowance for Credit Loss, Writeoff			(986)
Recoveries			246
Provision for credit losses			897
Acquired Loans [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance		52	178
Ending Balance			52
Financing Receivable, Allowance for Credit Loss, Writeoff			(2,242)
Recoveries			165
Provision for credit losses			1,951
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance		13	139
Ending Balance			13
Financing Receivable, Allowance for Credit Loss, Writeoff			(726)
Recoveries			81
Provision for credit losses			519
Acquired Loans [Member] | Real Estate Construction [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance		0	0
Ending Balance			0
Financing Receivable, Allowance for Credit Loss, Writeoff			0
Recoveries			0
Provision for credit losses			0
Acquired Loans [Member] | Commercial real estate [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance		37	4
Ending Balance			37
Financing Receivable, Allowance for Credit Loss, Writeoff			(1,376)
Recoveries			0
Provision for credit losses			1,409
Acquired Loans [Member] | Loans To Individuals [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance		0	0
Ending Balance			0
Financing Receivable, Allowance for Credit Loss, Writeoff			(84)
Recoveries			15
Provision for credit losses			69
Acquired Loans [Member] | Residential Real Estate [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance		$ 2	35
Ending Balance			2
Financing Receivable, Allowance for Credit Loss, Writeoff			(56)
Recoveries			69
Provision for credit losses			$ (46)

XML

Commitments and Letters of Credit - Notional Amount of Commitments and Letter of Credit Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Loss Contingencies [Line Items]
Commitments Net	$ 76	$ 71	$ 223
Commitments to extend credit
Loss Contingencies [Line Items]
Financial instrument of credit risk	2,353,991	2,097,628
Financial standby letters of credit
Loss Contingencies [Line Items]
Financial instrument of credit risk	18,824	15,988
Performance standby letters of credit
Loss Contingencies [Line Items]
Financial instrument of credit risk	10,663	16,864
Commercial letters of credit
Loss Contingencies [Line Items]
Financial instrument of credit risk	$ 975	$ 783

XML

Commitments and Letters of Credit - Additional Information (Detail) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Loss Contingencies [Line Items]
Notional amount of financial standby letters of credit	$ 300,000
Notional amount of performance standby letters of credit	2,700,000
Notional amount of commercial letters of credit	0
Financial instrument of credit risk	100,000	$ 100,000
Unused commitments and letters of credit [Member]
Loss Contingencies [Line Items]
Commitment liability	$ 6,400,000	$ 7,400,000

XML

Premises and Equipment - Schedule of Premises and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 291,104	$ 291,264
Less accumulated depreciation and amortization	170,329	165,747
Total premises and equipment	120,775	125,517
Land [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	14,621	15,441
Buildings and improvements [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 75,149	77,003
Buildings and improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	10 years
Buildings and improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	50 years
Property Subject to Operating Lease [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 47,938	48,642
Property Subject to Operating Lease [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	1 year
Property Subject to Operating Lease [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	25 years
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 35,909	35,347
Leasehold improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Leasehold improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	40 years
Furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 73,976	73,150
Furniture and equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Furniture and equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	7 years
Software [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 43,511	$ 41,681
Software [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Software [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	7 years

XML

Premises and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Operating Lease, Right-of-Use Asset	$ 40,550	$ 42,617
Operating Lease, Liability	44,801	46,819
Premises and equipment, available-for-sale	1,900	2,600
Operating Leases, Rent Expense, Contingent Rentals	4,500	6,700	$ 4,900
Premises and Equipment [Member]
Property, Plant and Equipment [Line Items]
Depreciation included in noninterest expense	9,900	10,900	$ 10,500
Property Subject to Operating Lease [Member]
Property, Plant and Equipment [Line Items]
Depreciation included in noninterest expense	$ 1,400	$ 2,600

XML

Premises and Equipment Operating Lease Table (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Lease Expense and Cash Flows [Abstract]
Operating Lease, Right-of-Use Asset	$ 40,550	$ 42,617
Operating Lease, Liability	44,801	46,819
Operating Lease, Cost	$ 4,806	$ 5,930
Operating Lease, Weighted Average Remaining Lease Term	14 years 1 month 9 days	14 years 9 months 29 days
Operating Lease, Weighted Average Discount Rate, Percent	3.24%	3.42%
Operating Leases, Rent Expense, Contingent Rentals	$ 4,753	$ 5,979

XML

Premises and Equipment Schedule of Lease Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating Leases, Future Minimum Payments Due, Next Twelve Months	$ 4,667
Operating Leases, Future Minimum Payments, Due in Two Years	4,622
Operating Leases, Future Minimum Payments, Due in Three Years	4,481
Operating Leases, Future Minimum Payments, Due in Four Years	4,261
Operating Leases, Future Minimum Payments, Due in Five Years	3,844
Operating Leases, Future Minimum Payments, Due Thereafter	35,207
Operating Leases, Future Minimum Payments Due	57,082
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	12,281
Operating Lease, Liability	$ 44,801	$ 46,819

XML

Goodwill and Other Amortizing Intangible Assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill And Other Intangibles [Line Items]
Goodwill	$ 303,328,000	$ 303,328,000
Impairment charges on goodwill	0	0	$ 0
Servicing Asset	2,500,000	1,900,000
Total amortization	16,169,000	13,223,000
Intangible amortization	3,497,000	3,689,000	3,344,000
Servicing Asset at Amortized Cost, Amortization	$ 600,000	300,000
Customer deposit intangibles
Goodwill And Other Intangibles [Line Items]
Core deposits remaining amortization period	7 years 8 months 12 days
Core deposits weighted average amortization period	6 years 2 months 12 days
Total amortization	$ 14,407,000	11,653,000
Customer list intangible
Goodwill And Other Intangibles [Line Items]
Core deposits remaining amortization period	7 years 8 months 12 days
Core deposits weighted average amortization period	5 years 10 months 24 days
Total amortization	$ 1,762,000	1,570,000
Customer-Related Intangible Assets [Member]
Goodwill And Other Intangibles [Line Items]
Intangible amortization	$ 2,900,000	$ 3,400,000	$ 3,200,000

XML

Goodwill and Other Amortizing Intangible Assets - Summarized Other Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	$ 24,856	$ 24,856
Accumulated Amortization	(16,169)	(13,223)
Net Intangible Assets	8,687	11,633
Customer deposit intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	22,573	22,573
Accumulated Amortization	(14,407)	(11,653)
Net Intangible Assets	8,166	10,920
Customer list intangible
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	2,283	2,283
Accumulated Amortization	(1,762)	(1,570)
Net Intangible Assets	$ 521	$ 713

XML

Goodwill and Other Amortizing Intangible Assets - Estimated Amortization Expense of Core Deposit Intangibles (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Goodwill And Other Intangibles [Line Items]
2016	$ 2,502
2017	2,060
2018	1,619
2019	1,181
2020	744
Thereafter	581
Net Intangible Assets	8,687	$ 11,633
Customer list intangible
Goodwill And Other Intangibles [Line Items]
2016	159
2017	128
2018	97
2019	69
2020	42
Thereafter	26
Net Intangible Assets	521	713
Customer deposit intangibles
Goodwill And Other Intangibles [Line Items]
2016	2,343
2017	1,932
2018	1,522
2019	1,112
2020	702
Thereafter	555
Net Intangible Assets	$ 8,166	$ 10,920

XML

Interest-Bearing Deposits - Components of Interest-Bearing Deposits (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deposits [Abstract]
Interest-bearing demand deposits	$ 291,476	$ 250,353
Savings deposits	4,647,197	4,305,391
Time deposits	385,043	562,964
Total interest-bearing deposits	$ 5,323,716	$ 5,118,708

XML

Interest-Bearing Deposits - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deposits [Abstract]
Interest-bearing demand deposit, money market	$ 1,200.0
Certificates of deposit in denominations of $100 thousand or more	51.7	$ 93.1
Interest expense related to certificates of deposit $100 thousand or greater	0.4	2.0	$ 3.3
Deposit Liabilities Reclassified as Loans Receivable	$ 0.6	$ 0.7

XML

Interest-Bearing Deposits - Scheduled Maturities of Time Deposits (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deposits [Abstract]
2017	$ 276,014
2018	50,607
2019	25,370
2020	12,814
2021 and thereafter	20,238
Total	$ 385,043	$ 562,964

XML

Short-term Borrowings - Summary of Short-Term Borrowings (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Short-term Debt [Line Items]
Ending Balance	$ 138,315	$ 117,373	$ 201,853
Average Balance	$ 119,801	$ 142,634	$ 391,547
Average Rate	0.08%	0.49%	2.12%
Federal funds purchased
Short-term Debt [Line Items]
Ending Balance	$ 0	$ 0	$ 0
Average Balance	$ 0	$ 4,147	$ 8,069
Average Rate	0.00%	1.06%	2.53%
Borrowings from FHLB
Short-term Debt [Line Items]
Ending Balance	$ 0	$ 0	$ 136,200
Average Balance	$ 0	$ 28,252	$ 278,930
Average Rate	0.00%	1.54%	2.62%
Securities sold under agreements to repurchase
Short-term Debt [Line Items]
Ending Balance	$ 138,315	$ 117,373	$ 65,653
Average Balance	$ 119,801	$ 110,235	$ 104,548
Average Rate	0.08%	0.21%	0.75%
Maximum [Member]
Short-term Debt [Line Items]
Ending Balance	$ 138,315	$ 248,471	$ 670,831
Weighted Average [Member]
Short-term Debt [Line Items]
Average Rate	0.06%	0.10%	1.41%

XML

Short-term Borrowings - Interest Expense on Short-Term Borrowings (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Interest On Short Term Borrowings [Line Items]
Total interest on short-term borrowings	$ 99	$ 704	$ 8,298
Federal funds purchased
Interest On Short Term Borrowings [Line Items]
Total interest on short-term borrowings	0	44	204
Borrowings from FHLB
Interest On Short Term Borrowings [Line Items]
Total interest on short-term borrowings	0	434	7,313
Securities sold under agreements to repurchase
Interest On Short Term Borrowings [Line Items]
Total interest on short-term borrowings	$ 99	$ 226	$ 781

XML

Subordinated Debentures - Subordinated Debentures Outstanding (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	May 21, 2018
Subordinated Borrowing [Line Items]
Subordinated Debentures outstanding, Amount	$ 170,775	$ 170,775	$ 170,775	$ 170,612
First Commonwealth Bank due 2028 [Member]
Subordinated Borrowing [Line Items]
Subordinated Debentures outstanding, Due	Jun. 01, 2028
Subordinated Debentures outstanding, Amount	$ 49,407	49,407	49,407	49,314
First Commonwealth Bank due 2033 [Member]
Subordinated Borrowing [Line Items]
Subordinated Debentures outstanding, Due	Jun. 01, 2033
Subordinated Debentures outstanding, Amount	$ 49,201	49,201	49,201	49,131
First Commonwealth Capital Trust II [Member]
Subordinated Borrowing [Line Items]
Subordinated Debentures outstanding, Due	Jan. 23, 2034
Subordinated Debentures outstanding, Amount	$ 30,929	30,929	30,929	30,929
First Commonwealth Capital Trust III [Member]
Subordinated Borrowing [Line Items]
Subordinated Debentures outstanding, Due	Apr. 06, 2034
Subordinated Debentures outstanding, Amount	$ 41,238	$ 41,238	$ 41,238	$ 41,238
First Commonwealth Bank 2028 [Member]
Subordinated Borrowing [Line Items]
Subordinated Debentures outstanding, Amount					$ 50,000
First Commonwealth Bank 2033 [Member]
Subordinated Borrowing [Line Items]
Subordinated Debentures outstanding, Amount					$ 50,000
Subordinated Debt [Member] | LIBOR [Member] | First Commonwealth Capital Trust II [Member]
Subordinated Borrowing [Line Items]
Variable interest rate		2.85%	2.85%	2.85%
Subordinated Debt [Member] | LIBOR [Member] | First Commonwealth Capital Trust III [Member]
Subordinated Borrowing [Line Items]
Variable interest rate		2.85%	2.85%	2.85%
Subordinated Debt [Member] | LIBOR [Member] | First Commonwealth Bank 2028 [Member]
Subordinated Borrowing [Line Items]
Variable interest rate		1.845%	1.845%	1.845%
Debt Instrument, Interest Rate During Period		4.875%		4.875%
Subordinated Debt [Member] | LIBOR [Member] | First Commonwealth Bank 2033 [Member]
Subordinated Borrowing [Line Items]
Variable interest rate		2.37%	2.37%	2.37%
Debt Instrument, Interest Rate During Period		5.50%		5.50%

XML

Subordinated Debentures - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) trust Rate	Dec. 31, 2021 USD ($) trust	Dec. 31, 2020 USD ($) Rate	May 21, 2018 USD ($)
Subordinated Borrowing [Line Items]
Subordinated Debentures outstanding, Amount	$ 170,775	$ 170,775	$ 170,612
Number of trusts | trust	2	2
First Commonwealth Bank 2028 [Member]
Subordinated Borrowing [Line Items]
Subordinated Debentures outstanding, Amount				$ 50,000
Deferred finance costs	$ 900	$ 900
First Commonwealth Bank 2033 [Member]
Subordinated Borrowing [Line Items]
Subordinated Debentures outstanding, Amount				$ 50,000
Deferred finance costs	1,100	1,100
First Commonwealth Capital Trust III [Member]
Subordinated Borrowing [Line Items]
Subordinated Debentures outstanding, Amount	41,238	$ 41,238	41,238
Redemption price as percentage of principal amount		100.00%
Deferred finance costs	600	$ 600
First Commonwealth Capital Trust II [Member]
Subordinated Borrowing [Line Items]
Subordinated Debentures outstanding, Amount	30,929	$ 30,929	$ 30,929
Redemption price as percentage of principal amount		100.00%
Deferred finance costs	$ 500	$ 500
LIBOR [Member] | Subordinated Debt [Member] | First Commonwealth Bank 2028 [Member]
Subordinated Borrowing [Line Items]
Debt Instrument, Interest Rate During Period | Rate	4.875%		4.875%
Variable interest rate	1.845%	1.845%	1.845%
LIBOR [Member] | Subordinated Debt [Member] | First Commonwealth Bank 2033 [Member]
Subordinated Borrowing [Line Items]
Debt Instrument, Interest Rate During Period | Rate	5.50%		5.50%
Variable interest rate	2.37%	2.37%	2.37%
LIBOR [Member] | Subordinated Debt [Member] | First Commonwealth Capital Trust III [Member]
Subordinated Borrowing [Line Items]
Variable interest rate	2.85%	2.85%	2.85%
LIBOR [Member] | Subordinated Debt [Member] | First Commonwealth Capital Trust II [Member]
Subordinated Borrowing [Line Items]
Variable interest rate	2.85%	2.85%	2.85%

XML

Other Long-term Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Amount
Long-term debt	$ 5,573	$ 56,258
Borrowings from FHLB [Member]
Amount
2015	712	50,685
2016	739	712
2017	769	739
2018	799	769
2019	830	799
Thereafter	$ 1,724	$ 2,554
2015, Weighted Average Contractual Rate	3.85%	2.32%
2016, Weighted Average Contractual Rate	3.86%	3.85%
2017, Weighted Average Contractual Rate	3.86%	3.86%
2018, Weighted Average Contractual Rate	3.86%	3.86%
2019, Weighted Average Contractual Rate	3.87%	3.86%
Thereafter, Weighted Average Contractual Rate	3.68%	3.74%

XML

Fair Values of Assets and Liabilities - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Random sample percentage of securities for each quarter	100.00%
Total gains or losses included in earnings		$ 0
Interest rate swaps transferred into Level 3 from Level 2	$ 0	0
Corporate securities transferred from Level 3 to Level 2	0	0
Impaired loans considered to be credit risk of non-collection	250,000
Updated appraisal requirement floor	250,000
Other real estate owned	642,000	1,215,000
Financial instrument of credit risk	100,000	100,000
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings On Assets Held At Year End	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Between Levels 1 And 2	0	0
Provision for credit losses	(377,000)	53,472,000
Securities available for sale	1,041,380,000	831,223,000
Other Assets [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total gains or losses included in earnings	0	0
Interest rate swaps transferred into Level 3 from Level 2	0
Corporate securities transferred from Level 3 to Level 2	$ 0	$ 0

XML

Fair Values of Assets and Liabilities - Quantitative Inputs and Assumptions Used in Level 3 Fair Value Measurements (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Assets, Fair Value Disclosure	$ 1,114,587,000	$ 938,309,000
Other Assets, Fair Value Disclosure	41,786,000	60,981,000
Other investments	12,838,000	12,227,000
Fair Value, Inputs, Level 2 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Assets, Fair Value Disclosure	1,098,436,000	930,020,000
Other Assets, Fair Value Disclosure	26,805,000	54,362,000
Other investments	11,668,000	10,557,000
Fair Value, Inputs, Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Assets, Fair Value Disclosure	16,151,000	8,289,000
Other Assets, Fair Value Disclosure	$ 14,981,000	$ 6,619,000
Other Assets [Member] | Par Value [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Equity Securities, FV-NI, Measurement Input [Extensible List]	Par Value	Par Value
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Other investments	$ 1,170,000	$ 1,670,000
Equity Securities [Member] | Par Value [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Equity Securities, FV-NI, Measurement Input [Extensible List]	Carrying Value	Carrying Value
Impaired Loans [Member] | Reserve [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Assets, Fair Value Disclosure	$ 598,000	$ 798,000
Equity Securities, FV-NI, Measurement Input [Extensible List]	Gas Reserve Study	Gas Reserve study
Impaired Loans [Member] | Discount Rates [Member] | Reserve [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Equity Securities, FV-NI, Measurement Input [Extensible List]	Discount rate	Discount rate
Impaired Loans [Member] | Gas Per Million Cubic Feet [Member] | Reserve [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Equity Securities, FV-NI, Measurement Input [Extensible List]	Gas per MMBTU	Gas per MMBTU
Impaired Loans [Member] | Oil Per Barrels Per Day [Member] | Reserve [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Equity Securities, FV-NI, Measurement Input [Extensible List]	Oil per BBL/d	Oil per BBL/d
Fair Value, Nonrecurring [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Assets, Fair Value Disclosure	$ 55,514,000	$ 50,466,000
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Assets, Fair Value Disclosure	43,267,000	36,862,000
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Assets, Fair Value Disclosure	12,247,000	13,604,000
Minimum [Member] | Impaired Loans [Member] | Reserve [Member] | Gas Per Million Cubic Feet [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair Value Weighted Average Inputs Price	2.00	1.46
Minimum [Member] | Impaired Loans [Member] | Reserve [Member] | Oil Per Barrels Per Day [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair Value Weighted Average Inputs Price	$ 50.00	$ 36.00
Weighted Average [Member] | Impaired Loans [Member] | Reserve [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair Value Input, Discount Rate	10.00%	10.00%
Maximum [Member] | Impaired Loans [Member] | Reserve [Member] | Gas Per Million Cubic Feet [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair Value Weighted Average Inputs Price	$ 2.00	$ 1.48
Maximum [Member] | Impaired Loans [Member] | Reserve [Member] | Oil Per Barrels Per Day [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair Value Weighted Average Inputs Price	$ 50.00	$ 36.00

XML

Fair Values of Assets and Liabilities - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	$ 1,041,380	$ 831,223
Other investments	11,700	10,600
Other Investments	12,838	12,227
Loans Held for Sale	18,583	33,436
Premises and Equipment		442
Other Assets	41,786	60,981
Total Assets	(1,114,587)	(938,309)
Other Liabilities	34,263	61,308
Total Liabilities	34,263	61,308
US Government Agencies Debt Securities [Member] | Mortgage-Backed Securities-Residential [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	5,662	7,230
US Government Agencies Debt Securities [Member] | Mortgage-Backed Securities-Commercial [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	362,290	191,180
Obligations of U.S. Government-Sponsored Enterprises [Member] | Mortgage-Backed Securities-Residential [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	629,974	496,033
Obligations of U.S. Government-Sponsored Enterprises [Member] | Other Government - Sponsored Enterprises [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	981	100,998
Obligations of States and Political Subdivisions [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	9,524	11,397
Corporate Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	32,949	24,385
Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	0	0
Other investments		0
Other Investments	0
Loans Held for Sale	0	0
Premises and Equipment		0
Other Assets	0	0
Total Assets	0	0
Other Liabilities	0	0
Total Liabilities	0	0
Level 1 [Member] | US Government Agencies Debt Securities [Member] | Mortgage-Backed Securities-Residential [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	0	0
Level 1 [Member] | US Government Agencies Debt Securities [Member] | Mortgage-Backed Securities-Commercial [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	0	0
Level 1 [Member] | Obligations of U.S. Government-Sponsored Enterprises [Member] | Mortgage-Backed Securities-Residential [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	0	0
Level 1 [Member] | Obligations of U.S. Government-Sponsored Enterprises [Member] | Other Government - Sponsored Enterprises [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	0	0
Level 1 [Member] | Obligations of States and Political Subdivisions [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	0	0
Level 1 [Member] | Corporate Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	0	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	1,041,380	831,223
Other Investments	11,668	10,557
Loans Held for Sale	18,583	33,436
Premises and Equipment		442
Other Assets	26,805	54,362
Total Assets	(1,098,436)	(930,020)
Other Liabilities	34,263	61,308
Total Liabilities	34,263	61,308
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | Mortgage-Backed Securities-Residential [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	5,662	7,230
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | Mortgage-Backed Securities-Commercial [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	362,290	191,180
Fair Value, Inputs, Level 2 [Member] | Obligations of U.S. Government-Sponsored Enterprises [Member] | Mortgage-Backed Securities-Residential [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	629,974	496,033
Fair Value, Inputs, Level 2 [Member] | Obligations of U.S. Government-Sponsored Enterprises [Member] | Other Government - Sponsored Enterprises [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	981	100,998
Fair Value, Inputs, Level 2 [Member] | Obligations of States and Political Subdivisions [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	9,524	11,397
Fair Value, Inputs, Level 2 [Member] | Corporate Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	32,949	24,385
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	0	0
Loans Held for Sale	0	0
Premises and Equipment		0
Other Assets	14,981	6,619
Total Assets	(16,151)	(8,289)
Other Liabilities	0	0
Total Liabilities	0	0
Level 3 [Member] | Equity Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other Investments	1,170	1,670
Level 3 [Member] | US Government Agencies Debt Securities [Member] | Mortgage-Backed Securities-Residential [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	0	0
Level 3 [Member] | US Government Agencies Debt Securities [Member] | Mortgage-Backed Securities-Commercial [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	0	0
Level 3 [Member] | Obligations of U.S. Government-Sponsored Enterprises [Member] | Mortgage-Backed Securities-Residential [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	0	0
Level 3 [Member] | Obligations of U.S. Government-Sponsored Enterprises [Member] | Other Government - Sponsored Enterprises [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	0	0
Level 3 [Member] | Obligations of States and Political Subdivisions [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	0	0
Level 3 [Member] | Corporate Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Available for Sale	$ 0	$ 0

XML

Fair Values of Assets and Liabilities - Schedule of Changes in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	$ (1,041,380)	$ (831,223)
Assets, Fair Value Disclosure	1,114,587	938,309
Balance, beginning of period	8,289	7,465
Total gains or losses included in earnings		0
Total gains or losses included in other comprehensive income	0	0
Purchases	8,511	824
Issuances	0	0
Sales	0	0
Settlements	(649)	0
Transfers from Level 3	0	0
Transfers into Level 3	0	0
Balance, end of period	16,151	8,289
Other Investments	12,838	12,227
Loans Held-for-sale, Fair Value Disclosure	18,583	33,436
Other Assets, Fair Value Disclosure	41,786	60,981
Other Liabilities, Fair Value Disclosure	34,263	61,308
Financial and Nonfinancial Liabilities, Fair Value Disclosure	34,263	61,308
Equity Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance, beginning of period	1,670	1,670
Total gains or losses included in earnings	0	0
Total gains or losses included in other comprehensive income	0	0
Purchases	0	0
Issuances	0	0
Sales	0	0
Settlements	(500)	0
Transfers from Level 3	0	0
Transfers into Level 3	0	0
Balance, end of period	1,170	1,670
Other Assets [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance, beginning of period	6,619	5,795
Total gains or losses included in earnings	0	0
Total gains or losses included in other comprehensive income	0	0
Purchases	8,511	824
Issuances	0	0
Sales	0	0
Settlements	149	0
Transfers from Level 3	0	0
Transfers into Level 3	0
Balance, end of period	14,981	6,619
Corporate Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	(32,949)	(24,385)
US Government Agencies Debt Securities [Member] | Mortgage-Backed Securities-Residential [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	(5,662)	(7,230)
US Government Agencies Debt Securities [Member] | Mortgage-Backed Securities-Commercial [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	(362,290)	(191,180)
Obligations of U.S. Government-Sponsored Enterprises [Member] | Mortgage-Backed Securities-Residential [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	(629,974)	(496,033)
Obligations of U.S. Government-Sponsored Enterprises [Member] | Other Government - Sponsored Enterprises [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	(981)	(100,998)
Obligations of States and Political Subdivisions [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	(9,524)	(11,397)
Level 1 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	0	0
Assets, Fair Value Disclosure	0	0
Other Investments	0
Loans Held-for-sale, Fair Value Disclosure	0	0
Other Assets, Fair Value Disclosure	0	0
Other Liabilities, Fair Value Disclosure	0	0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	0	0
Level 1 [Member] | Corporate Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	0	0
Level 1 [Member] | US Government Agencies Debt Securities [Member] | Mortgage-Backed Securities-Residential [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	0	0
Level 1 [Member] | US Government Agencies Debt Securities [Member] | Mortgage-Backed Securities-Commercial [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	0	0
Level 1 [Member] | Obligations of U.S. Government-Sponsored Enterprises [Member] | Mortgage-Backed Securities-Residential [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	0	0
Level 1 [Member] | Obligations of U.S. Government-Sponsored Enterprises [Member] | Other Government - Sponsored Enterprises [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	0	0
Level 1 [Member] | Obligations of States and Political Subdivisions [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	0	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	(1,041,380)	(831,223)
Assets, Fair Value Disclosure	1,098,436	930,020
Other Investments	11,668	10,557
Loans Held-for-sale, Fair Value Disclosure	18,583	33,436
Other Assets, Fair Value Disclosure	26,805	54,362
Other Liabilities, Fair Value Disclosure	34,263	61,308
Financial and Nonfinancial Liabilities, Fair Value Disclosure	34,263	61,308
Fair Value, Inputs, Level 2 [Member] | Corporate Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	(32,949)	(24,385)
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | Mortgage-Backed Securities-Residential [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	(5,662)	(7,230)
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | Mortgage-Backed Securities-Commercial [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	(362,290)	(191,180)
Fair Value, Inputs, Level 2 [Member] | Obligations of U.S. Government-Sponsored Enterprises [Member] | Mortgage-Backed Securities-Residential [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	(629,974)	(496,033)
Fair Value, Inputs, Level 2 [Member] | Obligations of U.S. Government-Sponsored Enterprises [Member] | Other Government - Sponsored Enterprises [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	(981)	(100,998)
Fair Value, Inputs, Level 2 [Member] | Obligations of States and Political Subdivisions [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	(9,524)	(11,397)
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	0	0
Assets, Fair Value Disclosure	16,151	8,289
Loans Held-for-sale, Fair Value Disclosure	0	0
Other Assets, Fair Value Disclosure	14,981	6,619
Other Liabilities, Fair Value Disclosure	0	0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Other Investments	1,170	1,670
Fair Value, Inputs, Level 3 [Member] | Corporate Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	0	0
Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member] | Mortgage-Backed Securities-Residential [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	0	0
Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member] | Mortgage-Backed Securities-Commercial [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	0	0
Fair Value, Inputs, Level 3 [Member] | Obligations of U.S. Government-Sponsored Enterprises [Member] | Mortgage-Backed Securities-Residential [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	0	0
Fair Value, Inputs, Level 3 [Member] | Obligations of U.S. Government-Sponsored Enterprises [Member] | Other Government - Sponsored Enterprises [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	0	0
Fair Value, Inputs, Level 3 [Member] | Obligations of States and Political Subdivisions [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Securities available for sale, at fair value	$ 0	$ 0

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Fair Values of Assets and Liabilities - Schedule of Assets Measured on Nonrecurring Basis (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	$ 1,114,587	$ 938,309
Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	54,785	49,147
Fair Value Measurement Of Assets On Nonrecurring Basis Net Losses On Impaired Loans	352	(7,905)
Other Real Estate Owned Assets Fair Value	729	1,319
Fair Value Measurement Of Assets On Nonrecurring Basis Net Losses On Other Real Estate Owned	0	(30)
Total Assets	55,514	50,466
Fair Value Measurement Of Assets On Nonrecurring Basis Net Loss	352	(7,935)
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	0	0
Level 1 [Member] | Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Other Real Estate Owned Assets Fair Value	0	0
Total Assets	0	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	1,098,436	930,020
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	42,538	35,543
Other Real Estate Owned Assets Fair Value	729	1,319
Total Assets	43,267	36,862
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets	16,151	8,289
Level 3 [Member] | Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	12,247	13,604
Other Real Estate Owned Assets Fair Value	0	0
Total Assets	$ 12,247	$ 13,604

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Fair Values of Assets and Liabilities - Carrying Amounts and Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Fair Value Measurements Of Financial Instruments [Line Items]
Cash and due from banks	$ 84,738	$ 100,009
Interest-bearing deposits	310,634	256,572
Securities available for sale	1,041,380	831,223
Debt Securities, Held-to-maturity	541,311	361,844
Other investments	12,838	12,227
Premises and Equipment		442
Loans	6,839,230	6,761,183	$ 6,189,148
Deposits	7,982,498	7,438,666
Short-term borrowings	138,315	117,373	$ 201,853
Long-term debt	5,573	56,258
Subordinated Debentures outstanding, Amount	170,775	170,612
Capital lease obligation	5,921	6,385
Loans Held for Sale	18,583	33,436
Level 1 [Member]
Fair Value Measurements Of Financial Instruments [Line Items]
Securities available for sale	0	0
Other investments	0
Premises and Equipment		0
Loans Held for Sale	0	0
Fair Value, Inputs, Level 2 [Member]
Fair Value Measurements Of Financial Instruments [Line Items]
Securities available for sale	1,041,380	831,223
Other investments	11,668	10,557
Premises and Equipment		442
Loans Held for Sale	18,583	33,436
Level 3 [Member]
Fair Value Measurements Of Financial Instruments [Line Items]
Securities available for sale	0	0
Premises and Equipment		0
Loans Held for Sale	0	0
Carrying Amount [Member]
Fair Value Measurements Of Financial Instruments [Line Items]
Cash and due from banks	84,738	100,009
Interest-bearing deposits	310,634	256,572
Securities available for sale	1,041,380	831,223
Debt Securities, Held-to-maturity	541,311	361,844
Other investments	12,838	12,227
Loans held for sale	18,583	33,436
Loans	6,839,230	6,761,183
Deposits	7,982,498	7,438,666
Short-term borrowings	138,315	117,373
Long-term debt	5,573	56,258
Subordinated Debentures outstanding, Amount	170,775	170,612
Capital lease obligation	5,921	6,385
Estimated Fair Value [Member]
Fair Value Measurements Of Financial Instruments [Line Items]
Cash and due from banks	84,738	100,009
Interest-bearing deposits	310,634	256,572
Securities available for sale	1,041,380	831,223
Debt Securities, Held-to-maturity	536,651	369,851
Other investments	12,838	12,227
Loans held for sale	18,583	33,436
Loans	7,169,768	7,202,763
Deposits	7,980,101	7,440,906
Short-term borrowings	136,473	117,037
Long-term debt	6,065	57,881
Subordinated Debentures outstanding, Amount	175,040	165,665
Capital lease obligation	5,921	6,385
Estimated Fair Value [Member] | Level 1 [Member]
Fair Value Measurements Of Financial Instruments [Line Items]
Cash and due from banks	84,738	100,009
Interest-bearing deposits	310,634	256,572
Securities available for sale	0	0
Debt Securities, Held-to-maturity	0	0
Other investments	0	0
Loans held for sale	0	0
Loans	0	0
Deposits	0	0
Short-term borrowings	0	0
Long-term debt	0	0
Subordinated Debentures outstanding, Amount	0	0
Capital lease obligation	0	0
Estimated Fair Value [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Measurements Of Financial Instruments [Line Items]
Cash and due from banks	0	0
Interest-bearing deposits	0	0
Securities available for sale	1,041,380	831,223
Debt Securities, Held-to-maturity	536,651	369,851
Other investments	11,668	10,557
Loans held for sale	18,583	33,436
Loans	42,538	35,543
Deposits	7,980,101	7,440,906
Short-term borrowings	136,473	117,037
Long-term debt	6,065	57,881
Subordinated Debentures outstanding, Amount	0	0
Capital lease obligation	5,921	6,385
Estimated Fair Value [Member] | Level 3 [Member]
Fair Value Measurements Of Financial Instruments [Line Items]
Cash and due from banks	0	0
Interest-bearing deposits	0	0
Securities available for sale	0	0
Debt Securities, Held-to-maturity	0	0
Other investments	1,170	1,670
Loans held for sale	0	0
Loans	7,127,230	7,167,220
Deposits	0	0
Short-term borrowings	0	0
Long-term debt	0	0
Subordinated Debentures outstanding, Amount	175,040	165,665
Capital lease obligation	$ 0	$ 0

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Income Taxes - Schedule of Components of Income Tax Provision (Benefit) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Federal	$ 32,586	$ 21,629	$ 22,942
State	397	329	282
Total current tax provision	32,983	21,958	23,224
Deferred State and Local Income Tax Expense (Benefit)	1,501	(5,070)	2,284
Deferred State and Local Income Tax Expense (Benefit)	76	(132)	8
Deferred Income Tax Expense (Benefit)	1,577	(5,202)	2,292
Total tax provision (benefit), Amount	$ 34,560	$ 16,756	$ 25,516

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Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract]
Tax at statutory rate, Amount	$ 36,292	$ 18,943	$ 27,478
Income Tax Reconciliation, Bank Owned Life Insurance Income	(1,351)	(1,376)	(1,260)
Tax-exempt interest income, net, Amount	(846)	(1,117)	(1,298)
Tax credits, Amount	(127)	(44)	(7)
Other, Amount	266	195	374
Total tax provision (benefit), Amount	$ 34,560	$ 16,756	$ 25,516
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Tax at statutory rate, Pretax Income	21.00%	21.00%	21.00%
Income from bank owned life insurance, Pretax Income	(1.00%)	(1.00%)	(1.00%)
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	$ 326	$ 155	$ 229
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent	0.00%	0.00%	0.00%
Tax-exempt interest income, net, Pretax Income	0.00%	(1.00%)	(1.00%)
Tax credits, Pretax Income	0.00%	0.00%	0.00%
Other, Pretax Income	0.00%	0.00%	0.00%
Total tax provision (benefit), Pretax Income	20.00%	19.00%	19.00%

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Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Operating Loss Carryforwards	$ 1,000,000
Unrecognized Tax Benefits	$ 0
Federal statutory rate	21.00%	21.00%	21.00%
Annual effective income tax rate, percentage	20.00%	19.00%	19.00%
Net deferred tax asset	$ 27,461,000	$ 21,981,000

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Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Deferred Tax Asset, Tax Deferred Expense, Lease Liability	$ 9,489	$ 9,928
Deferred Tax Assets, Gross [Abstract]
Allowance for credit losses	19,597	21,483
Postretirement benefits other than pensions	235	242
Deferred Tax Assets, Operating Loss Carryforwards	75	385
Deferred compensation	1,969	1,723
Accrued interest on nonaccrual loans	779	644
Accrued incentives	2,591	2,182
Unfunded loan commitments & other reserves	1,363	1,576
Other	988	1,831
Total deferred tax assets	39,443	39,994
Deferred tax liabilities:
Loan origination fees and costs	(253)	(1,280)
Deferred Tax Liabilities, Leasing Arrangements	8,589	9,037
Net Unrealized Gain On Investment Securities Available For Sale	0	4,629
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	(1,725)	(2,103)
Section 197 intangibles	(1,107)	(540)
Other	(308)	(424)
Total deferred tax liabilities	(11,982)	(18,013)
Net deferred tax asset	27,461	21,981
Unrealized loss on securities available for sale	$ 2,357	$ 0

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Retirement Plans - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Employer contribution	4.00%
Employee contribution	80.00%
Plan expense	$ 3,000	$ 3,900	$ 3,600
Retirement Plan expense	$ 0	$ 0	$ 0
Minimum [Member]
Eligibility of participants	1.00%
Maximum [Member]
Eligibility of participants	25.00%

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Retirement Plans - Schedule of Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Service cost	$ 0	$ 0	$ 0
Interest cost on projected benefit obligation	23	23	34
Amortization of transition obligation	0	0	0
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	76	0	0
Gain amortization	(27)	(52)	(60)
Net periodic benefit cost	$ 72	$ (29)	$ (26)

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Retirement Plans - Schedule of Changes in Benefit Obligations and Plan Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Service cost	$ 0	$ 0	$ 0
Interest cost	23	23	34
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Funded Status at End of Year	986	1,372
Unrecognized transition obligation	(461)	(537)
Unrecognized net gain	584	308
Amounts recognized in retained earnings	1,109	1,143
Change in Benefit Obligation [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year	1,372	834
Service cost	0	0
Interest cost	23	23
Amendments	0	537
Actuarial gain	(302)	102
Net benefits paid	(107)	(124)
Benefit obligation at end of year	986	1,372	834
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Net benefits paid	(107)	(124)
Change In Plan Assets [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Net benefits paid	(107)	(124)
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0	0
Actual return on plan assets	0	0
Employer contributions	107	124
Net benefits paid	(107)	(124)
Fair value of plan assets at end of year	$ 0	$ 0	$ 0

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Retirement Plans - Schedule of Amounts Recognized as Other Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Amounts Recognized in the Statement of Financial Condition as Other liabilities	$ 986	$ 1,372

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Retirement Plans - Schedule of Amounts Recognized in Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net (gain) loss	$ (461)	$ (243)	$ (366)
Transition obligation	364	424	0
Total	(97)	$ 181	$ (366)
Postretirement Benefit Costs [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net (gain) loss	(69)
Transition obligation	76
Total	$ 7

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Retirement Plans - Schedule of Weighted-Average Assumptions Used to Determine Benefit Obligation (Detail) - Benefit Obligation [Member]	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net Periodic Benefit Cost Assumptions [Line Items]
Discount rate	2.38%	1.83%	2.88%
Health care cost trend: Initial	5.90%	5.95%	5.55%
Health care cost trend: Ultimate	4.75%	4.75%	4.75%
Year ultimate reached	2027	2026	2025

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Retirement Plans - Schedule of Weighted-Average Assumptions Used to Determine Net Periodic Cost (Detail) - Net Periodic Cost [Member]	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net Periodic Benefit Cost Assumptions [Line Items]
Discount rate	1.83%	2.88%	4.11%
Health care cost trend: Initial	5.95%	5.55%	6.00%
Health care cost trend: Ultimate	4.75%	4.75%	4.75%
Year ultimate reached	2026	2025	2024
Corridor	10.00%	10.00%	10.00%
Recognition period for gains and losses	10 years 4 months 24 days	10 years 10 months 24 days	12 years 1 month 6 days

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Retirement Plans - Schedule of Projected Benefit Payments (Detail) $ in Thousands	Dec. 31, 2021 USD ($)
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2016	$ 118
2017	113
2018	107
2019	100
2020	93
2021 - 2025	$ 350

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Incentive Compensation Plan - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions																								12 Months Ended
	Dec. 13, 2021	Dec. 09, 2021	Nov. 22, 2021	Nov. 19, 2021	Sep. 27, 2021	Jun. 14, 2021	Feb. 18, 2021	Feb. 20, 2020	Feb. 21, 2019	Nov. 26, 2018	May 29, 2018	Mar. 26, 2018	Feb. 28, 2018	Feb. 26, 2018	Mar. 24, 2017	Feb. 23, 2017	Dec. 19, 2016	Sep. 30, 2016	Sep. 19, 2016	Jun. 07, 2016	Mar. 01, 2016	Mar. 01, 2016	Dec. 30, 2015	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Price (in dollars per share)																								$ 13.64	$ 13.72	$ 14.22
Maximum number of shares that are available to be awarded																								5,000,000
Vesting period of restricted stock							0 years	0 years	0 years				0 years			0 years							0 years
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant																								2,434,596
Performance Based Stock Awards Vesting Period							3 years	3 years	3 years				3 years			3 years							5 years
Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Target Award Participants Earn							40.00%	40.00%	40.00%				40.00%			40.00%
Performance Shares Awards As Percentage Of Target							100.00%	100.00%	100.00%				100.00%			100.00%
Percentage Of Target Award Opportunities Maximum In Certain Cases							200.00%	200.00%	200.00%				200.00%			200.00%
Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)	2,000	1,000	1,565	24,000	6,000	15,000	84,950	95,300	63,000
Grant Price (in dollars per share)	$ 14.83	$ 15.07	$ 15.96	$ 15.81	$ 13.78	$ 14.58	$ 12.77	$ 13.72	$ 14.22
Vesting Date	Dec. 13, 2024	Dec. 09, 2024	Nov. 22, 2024	Nov. 19, 2024	Sep. 27, 2024	Jun. 01, 2024	Feb. 18, 2024	Feb. 20, 2023	Feb. 22, 2022
Vesting period of restricted stock	1 year	1 year	1 year	1 year	1 year	3 years	1 year	1 year	1 year
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)									15,000	2,000	3,000	2,000		77,500			15,000	10,000	33,000	10,000	5,000	10,000
Grant Price (in dollars per share)									$ 14.22	$ 13.82	$ 15.44	$ 14.08		$ 14.49			$ 13.96	$ 10.09	$ 10.02	$ 9.34	$ 8.84	$ 8.84
Vesting Date									Feb. 22, 2022	Nov. 26, 2021	May 29, 2021	Mar. 26, 2021		Feb. 26, 2021			Dec. 19, 2019	Sep. 30, 2019	Sep. 19, 2019	Jun. 07, 2019	Mar. 01, 2019	Mar. 01, 2019
Share-based Payment Arrangement, Expense																								$ 3.1	$ 2.9	$ 2.7
Unrecognized compensation cost related to unvested restricted stock																								$ 3.8
Vesting period of restricted stock									1 year	1 year	1 year	1 year		1 year			3 years	1 year	3 years	1 year	1 year	1 year
March 24, 2017 Grant 3 [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)															7,000
Grant Price (in dollars per share)															$ 12.99
Vesting Date															Mar. 24, 2020
Vesting period of restricted stock															1 year
March 24, 2017 Grant 1 [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)															5,000
Grant Price (in dollars per share)															$ 12.99
Vesting Date															Mar. 24, 2020
Vesting period of restricted stock															1 year
February 23, 2017 | Time [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Price (in dollars per share)																								$ 13.29
February 23, 2017 | Component 3 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Price (in dollars per share)																								15.09
February 23, 2017 | Component 2 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Price (in dollars per share)																								13.29
February 22, 2018 | Time [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Price (in dollars per share)																								14.17
February 22, 2018 | Component 3 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Price (in dollars per share)																								15.83
February 22, 2018 | Component 2 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Price (in dollars per share)																								13.25
February 21, 2019 | Time [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Price (in dollars per share)																								14.22
February 21, 2019 | Component 3 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Price (in dollars per share)																								13.07
February 21, 2019 | Component 2 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Price (in dollars per share)																								16.62
February 20, 2020 | Time [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Price (in dollars per share)																								13.72
February 20, 2020 | Component 3 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Price (in dollars per share)																								12.43
February 20, 2020 | Component 2 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Price (in dollars per share)																								15.37
February 18, 2021 | Time [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Price (in dollars per share)																								12.77
February 18, 2021 | Component 3 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Price (in dollars per share)																								16.41
February 18, 2021 | Component 2 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Price (in dollars per share)																								$ 11.45

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Incentive Compensation Plan - Unvested Service-Based Restricted Stock Awards (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, beginning of the year, Shares	250,800	171,500	137,500
Granted, Shares	134,515	95,300	78,000
Vested, Shares	(88,389)	(12,000)	(41,000)
Forfeited, Shares	(10,911)	(4,000)	(3,000)
Outstanding, end of the year, Shares	286,015	250,800	171,500
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Outstanding, beginning of the year, Weighted Average Grant Date Fair Value	$ 14.13	$ 14.27	$ 13.05
Grant Price (in dollars per share)	13.64	13.72	14.22
Vested, Weighted Average Grant Date Fair Value	14.46	12.99	10.09
Forfeited, Weighted Average Grant Date Fair Value	13.66	13.85	14.40
Outstanding, end of the year, Weighted Average Grant Date Fair Value	$ 13.82	$ 14.13	$ 14.27

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Incentive Compensation Plan Incentive Compensation Plan - Restricted Stock Awards Estimated to be Granted on a Performance Award (Details) - $ / shares																	12 Months Ended
	Feb. 18, 2021	Feb. 20, 2020	Feb. 21, 2019	Nov. 26, 2018	May 29, 2018	Mar. 26, 2018	Feb. 28, 2018	Feb. 26, 2018	Feb. 23, 2017	Dec. 19, 2016	Sep. 30, 2016	Sep. 19, 2016	Jun. 07, 2016	Mar. 01, 2016	Mar. 01, 2016	Dec. 30, 2015	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Target Award Participants Earn	40.00%	40.00%	40.00%				40.00%		40.00%
Performance Shares Awards As Percentage Of Target	100.00%	100.00%	100.00%				100.00%		100.00%
Percentage Of Target Award Opportunities Maximum In Certain Cases	200.00%	200.00%	200.00%				200.00%		200.00%
Vesting period of restricted stock	0 years	0 years	0 years				0 years		0 years							0 years
Performance Based Stock Awards Vesting Period	3 years	3 years	3 years				3 years		3 years							5 years
Grant Price (in dollars per share)																	$ 13.64	$ 13.72	$ 14.22
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of restricted stock			1 year	1 year	1 year	1 year		1 year		3 years	1 year	3 years	1 year	1 year	1 year
Common stock issued to executive			15,000	2,000	3,000	2,000		77,500		15,000	10,000	33,000	10,000	5,000	10,000
Grant Price (in dollars per share)			$ 14.22	$ 13.82	$ 15.44	$ 14.08		$ 14.49		$ 13.96	$ 10.09	$ 10.02	$ 9.34	$ 8.84	$ 8.84
Vesting Date			Feb. 22, 2022	Nov. 26, 2021	May 29, 2021	Mar. 26, 2021		Feb. 26, 2021		Dec. 19, 2019	Sep. 30, 2019	Sep. 19, 2019	Jun. 07, 2019	Mar. 01, 2019	Mar. 01, 2019
Restricted Stock Units (RSUs) [Member] | Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock issued to executive	143,400,000	125,800,000	121,900,000				102,000,000		93,500,000							60,000,000

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Incentive Compensation Plan - Unvested Target Award (Detail) - shares																	12 Months Ended
	Feb. 18, 2021	Feb. 20, 2020	Feb. 21, 2019	Nov. 26, 2018	May 29, 2018	Mar. 26, 2018	Feb. 28, 2018	Feb. 26, 2018	Feb. 23, 2017	Dec. 19, 2016	Sep. 30, 2016	Sep. 19, 2016	Jun. 07, 2016	Mar. 01, 2016	Mar. 01, 2016	Dec. 30, 2015	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, beginning of the year, Shares																	250,800	171,500	137,500
Granted, Shares																	134,515	95,300	78,000
Vested, Shares																	(88,389)	(12,000)	(41,000)
Forfeited, Shares																	(10,911)	(4,000)	(3,000)
Outstanding, end of the year, Shares																	286,015	250,800	171,500
Performance Based Stock Awards Vesting Period	3 years	3 years	3 years				3 years		3 years							5 years
Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Target Award Participants Earn	40.00%	40.00%	40.00%				40.00%		40.00%
Performance Shares Awards As Percentage Of Target	100.00%	100.00%	100.00%				100.00%		100.00%
Percentage Of Target Award Opportunities Maximum In Certain Cases	200.00%	200.00%	200.00%				200.00%		200.00%
Vesting period of restricted stock	0 years	0 years	0 years				0 years		0 years							0 years
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, beginning of the year, Shares																	434,180	442,832	496,603
Granted, Shares																	143,400	125,800	134,929
Vested, Shares																	(158,531)	(134,452)	(188,700)
Forfeited, Shares																	(27,949)	0	0
Outstanding, end of the year, Shares																	391,100	434,180	442,832
Shares issued (in shares)			15,000	2,000	3,000	2,000		77,500		15,000	10,000	33,000	10,000	5,000	10,000
Vesting period of restricted stock			1 year	1 year	1 year	1 year		1 year		3 years	1 year	3 years	1 year	1 year	1 year
Restricted Stock Units (RSUs) [Member] | Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Shares issued (in shares)	143,400,000	125,800,000	121,900,000				102,000,000		93,500,000							60,000,000

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Contingent Liabilities - Additional Information (Detail)	Dec. 31, 2021 USD ($)
Minimum [Member]
Loss Contingencies [Line Items]
Range of reasonably possible losses	$ 0
Maximum [Member]
Loss Contingencies [Line Items]
Range of reasonably possible losses	$ 1,000,000

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Revenue Recognition Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Incentive Revenue	$ 0.5
Brokerage Commissions Revenue	$ 3.7	$ 3.0

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Revenue Recognition In Scope and Out of Scope Revenue Streams (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Fees and Commissions on Debit Cards	$ 27,954	$ 23,966	$ 21,677
Noninterest Income	106,757	94,476	85,485
Trust income	11,111	9,101	8,321
Service charges on deposit accounts	17,984	16,387	18,926
Insurance and retail brokerage commissions	8,502	7,850	7,583
Other income	8,185	7,892	7,268
Out-Of-Scope of Topic 606 [Member]
Disaggregation of Revenue [Line Items]
Noninterest Income	36,269	32,530	24,079
In-Scope of Topic 606 [Member]
Disaggregation of Revenue [Line Items]
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	753	967	1,062
Noninterest Income	70,488	61,946	61,406
Other income	$ 4,184	$ 3,675	$ 3,837

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Related Party Transactions - Loans to Related Parties (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Loans and Leases Receivable, Related Parties [Roll Forward]
Beginning balance	$ 19,573
Advances	535
Repayments	(1,155)
Ending balance	$ 18,953

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Regulatory Restrictions and Capital Adequacy - Schedule of Capital Amount and Ratio Considered to be Capitalized (Detail) $ in Thousands	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
First Commonwealth Financial Corporation
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Tier 1 Common Equity to Risk Weighted Assets	$ 824,670	$ 757,231
Tier 1 Common Equity to Risk Weighted Assets	11.26%	11.15%
Tier 1 Common Equity Required to be Well Capitalized	$ 475,876	$ 441,560
Tier 1 Common Equity Required to be Well Capitalized to Risk Weighted Assets	6.50%	6.50%
First Commonwealth Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Tier 1 Common Equity to Risk Weighted Assets	$ 864,559	$ 791,568
Tier 1 Common Equity to Risk Weighted Assets	11.83%	11.66%
Tier 1 Common Equity Required to be Well Capitalized	$ 475,008	$ 441,378
Tier 1 Common Equity Required to be Well Capitalized to Risk Weighted Assets	6.50%	6.50%
Actual | First Commonwealth Financial Corporation
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total Capital to Risk Weighted Assets	$ 1,071,965	$ 1,010,608
Tier I Capital to Risk Weighted Assets	894,670	827,231
Tier I Capital to Average Assets	$ 894,670	$ 827,231
Total Capital to Risk Weighted Assets, Ratio	0.1464	0.1488
Tier I Capital to Risk Weighted Assets, Ratio	0.1222	0.1218
Tier I Capital to Average Assets, Ratio	0.0973	0.0940
Actual | First Commonwealth Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total Capital to Risk Weighted Assets	$ 1,041,854	$ 974,911
Tier I Capital to Risk Weighted Assets	864,559	791,568
Tier I Capital to Average Assets	$ 864,559	$ 791,568
Total Capital to Risk Weighted Assets, Ratio	0.1426	0.1436
Tier I Capital to Risk Weighted Assets, Ratio	0.1183	0.1166
Tier I Capital to Average Assets, Ratio	0.0943	0.0901
Minimum Capital Required | First Commonwealth Financial Corporation
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total Capital to Risk Weighted Assets, Regulatory Minimum Capital Amount	$ 768,723	$ 713,289
Tier I Capital to Risk Weighted Assets, Regulatory Minimum Capital Amount	622,300	577,424
Tier I Capital to Average Assets, Regulatory Minimum Capital Amount	367,656	352,023
Tier 1 Common Equity Required for Capital Adequacy	$ 512,482	$ 475,526
Total Capital to Risk Weighted Assets, Regulatory Minimum Ratio	0.1050	0.1050
Tier I Capital to Risk Weighted Assets, Regulatory Minimum Ratio	0.0850	0.0850
Tier I Capital to Average Assets, Regulatory Minimum Ratio	0.0400	0.0400
Tier 1 Common Equity Required for Capital Adequacy to Risk Weighted Assets	7.00%	7.00%
Minimum Capital Required | First Commonwealth Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total Capital to Risk Weighted Assets, Regulatory Minimum Capital Amount	$ 767,321	$ 712,995
Tier I Capital to Risk Weighted Assets, Regulatory Minimum Capital Amount	621,165	577,186
Tier I Capital to Average Assets, Regulatory Minimum Capital Amount	366,839	351,244
Tier 1 Common Equity Required for Capital Adequacy	$ 511,547	$ 475,330
Total Capital to Risk Weighted Assets, Regulatory Minimum Ratio	0.1050	0.1050
Tier I Capital to Risk Weighted Assets, Regulatory Minimum Ratio	0.0850	0.0850
Tier I Capital to Average Assets, Regulatory Minimum Ratio	0.0400	0.0400
Tier 1 Common Equity Required for Capital Adequacy to Risk Weighted Assets	7.00%	7.00%
Required to be Considered Well Capitalized | First Commonwealth Financial Corporation
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Tier One Risk Based Capital Required to be Well Capitalized	$ 585,694	$ 543,458
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets	0.0800	0.0800
Tier One Leverage Capital Required to be Well Capitalized	$ 459,570	$ 440,029
Tier One Leverage Capital Required to be Well Capitalized to Average Assets	0.0500	0.0500
Total Capital to Risk Weighted Assets, Well Capitalized Regulatory Guidelines	$ 732,118	$ 679,323
Total Capital to Risk Weighted Assets, Well Capitalized Regulatory Guidelines	0.1000	0.1000
Required to be Considered Well Capitalized | First Commonwealth Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Tier One Risk Based Capital Required to be Well Capitalized	$ 584,626	$ 543,234
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets	0.0800	0.0800
Tier One Leverage Capital Required to be Well Capitalized	$ 458,549	$ 439,055
Tier One Leverage Capital Required to be Well Capitalized to Average Assets	0.0500	0.0500
Total Capital to Risk Weighted Assets, Well Capitalized Regulatory Guidelines	$ 730,782	$ 679,043
Total Capital to Risk Weighted Assets, Well Capitalized Regulatory Guidelines	0.1000	0.1000

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Regulatory Restrictions and Capital Adequacy Regulatory Restrictions and Capital Adequacy - Additional Items (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	May 21, 2018
Additional Items [Abstract]
Subordinated Long-term Debt, Noncurrent				$ 100,000
Loans	$ 6,839,230	$ 6,761,183	$ 6,189,148

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Capital - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Nov. 30, 2021	Jan. 31, 2021	Mar. 04, 2019	Dec. 31, 2018
Subsequent Event [Line Items]
Announcement of common stock repurchase program						$ 25,000,000
Stock repurchased (in shares)		2,761,504
Average price per share		$ 9.07
Shareholders' equity	$ 1,109,372,000	$ 1,068,617,000	$ 1,055,665,000				$ 975,389,000
Increase (decrease) in equity	40,800,000
Net Income	138,257,000	73,447,000	105,333,000
Payments of dividends	43,611,000	42,982,000	39,394,000
Purchase of treasury stock	$ 31,301,000	$ 20,905,000	$ 6,259,000
Cash Dividends Declared per Common Share (in dollars per share)	$ 0.455	$ 0.440	$ 0.400
Borrowings	$ 0	$ 0	$ 0
Treasury stock reissued	2,264,000	1,817,000	2,744,000
Dividends, Common Stock, Cash	(43,611,000)	(42,982,000)	(39,394,000)
Treasury Stock, Value, Acquired, Cost Method	(31,301,000)	(20,905,000)	(6,259,000)
Total other comprehensive (loss) Income	$ (26,001,000)	$ 11,654,000	$ 16,920,000
2021 Share Repurchase Plan 1
Subsequent Event [Line Items]
Announcement of common stock repurchase program					$ 25,000,000
Stock repurchased (in shares)	1,161,056
Average price per share	$ 13.44
2021 Share Repurchase Plan 2
Subsequent Event [Line Items]
Announcement of common stock repurchase program				$ 25,000,000
Stock repurchased (in shares)	937,670
Average price per share	$ 15.39

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Condensed Financial Information of First Commonwealth Financial Corporation (Parent Company Only) - Statements of Financial Condition (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Assets
Loans	$ 6,746,708	$ 6,659,874
Premises and equipment, net	120,775	125,517
Other assets	128,268	143,415
Total assets	9,545,093	9,068,104
Liabilities and Shareholders' Equity
Subordinated Debentures outstanding, Amount	170,775	170,612
Shareholders' equity	1,109,372	1,068,617	$ 1,055,665	$ 975,389
Total liabilities and shareholders’ equity	9,545,093	9,068,104
Parent Company [Member]
Assets
Cash	11,649	34,427
Loans	9	11
Investment in subsidiaries	1,152,580	1,108,801
Investment in unconsolidated subsidiary trusts	2,181	2,182
Investment in Jointly-Owned Company	357	338
Premises and equipment, net	3,244	3,476
Dividends receivable from subsidiaries	7,762	3,038
Other assets	8,212	7,307
Total assets	1,185,994	1,159,580
Liabilities and Shareholders' Equity
Accrued expenses and other liabilities	4,455	18,796
Subordinated Debentures outstanding, Amount	72,167	72,167
Shareholders' equity	1,109,372	1,068,617
Total liabilities and shareholders’ equity	$ 1,185,994	$ 1,159,580

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Condensed Financial Information of First Commonwealth Financial Corporation (Parent Company Only) - Statements of Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Condensed Financial Statements, Captions [Line Items]
Interest and dividends	$ 293,838	$ 301,209	$ 325,264
Interest expense	(15,297)	(32,938)	(55,402)
Other income	8,185	7,892	7,268
Applicable income tax (provision) benefits	(34,560)	(16,756)	(25,516)
Net Income	138,257	73,447	105,333
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Interest and dividends	4	8	8
Dividends from subsidiaries	72,202	61,708	55,964
Interest expense	(3,205)	(3,229)	(3,735)
Other income	0	3	6
Operating expense	(4,721)	(4,687)	(4,525)
Income (loss) before taxes and equity in undistributed earnings of subsidiaries	64,280	53,803	47,718
Applicable income tax (provision) benefits	1,646	1,648	1,720
Income (loss) before equity in undistributed earnings of subsidiaries	65,926	55,451	49,438
Equity in undistributed (loss) earnings of subsidiaries	72,331	17,996	55,895
Net Income	$ 138,257	$ 73,447	$ 105,333

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Condensed Financial Information of First Commonwealth Financial Corporation (parent company only) - Statements of Cash Flow (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Activities
Net Income	$ 138,257	$ 73,447	$ 105,333
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	11,442	11,653	10,370
Other net	(5,874)	5,349	(14,310)
Net cash provided by operating activities	165,046	105,699	107,632
Investing Activities
Net cash (used in) provided by investing activities	(565,305)	(483,138)	122,942
Financing Activities
Dividends paid	(43,611)	(42,982)	(39,394)
Proceeds from reissuance of treasury stock	222	222	211
Purchase of treasury stock	(31,301)	(20,905)	(6,259)
Net cash provided by (used in) financing activities	439,050	612,164	(207,665)
Net increase in cash and cash equivalents	38,791	234,725	22,909
Parent Company [Member]
Operating Activities
Net Income	138,257	73,447	105,333
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	369	383	340
Net gains on sales of assets	228	0	(2)
Decrease (increase) in prepaid income taxes	317	(317)	629
Undistributed equity in subsidiaries	(72,330)	(17,996)	(55,895)
Other net	(14,830)	19,705	(2,957)
Net cash provided by operating activities	52,011	75,222	47,448
Investing Activities
Net change in loans	2	1	1
Payments to Acquire Property and Equipment	(101)	(20)	(586)
Proceeds from sale of other assets	0	0	2
Net cash (used in) provided by investing activities	(99)	(19)	(583)
Financing Activities
Dividends paid	(43,611)	(42,982)	(39,394)
Proceeds from reissuance of treasury stock	222	222	211
Purchase of treasury stock	(31,301)	(20,905)	(6,259)
Net cash provided by (used in) financing activities	(74,690)	(63,665)	(45,442)
Net increase in cash and cash equivalents	(22,778)	11,538	1,423
Cash and cash equivalents at January 1	34,427	22,889	21,466
Cash and cash equivalents at December 31	$ 11,649	$ 34,427	$ 22,889

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Condensed Financial Information of First Commonwealth Financial Corporation (Parent Company Only) - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract]
Cash Dividends Declared per Common Share (in dollars per share)	$ 0.455	$ 0.440	$ 0.400
Line of credit	$ 20,000,000
Borrowings	$ 0	$ 0	$ 0