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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.