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Fair Values of Assets and Liabilities (Tables)
 6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Fair Value Inputs, Assets, Quantitative Information
In accordance with ASU No. 2011-4, the following table provides information related to quantitative inputs and assumptions used in Level 3 fair value measurements.
Fair Value (dollars
in thousands)		Valuation
Technique		Unobservable InputsRange /
(weighted average)
June 30, 2022
Other Investments$1,170 Carrying ValueN/AN/A
Nonperforming Loans498  (a)Gas Reserve StudyDiscount rate10.00%
Gas per MMBTU
$3.00 - $3.00 (b)
Oil per BBL/d
$80.00 - $80.00 (b)
Limited Partnership Investments16,613 Par ValueN/AN/A
December 31, 2021
Other Investments$1,170 Carrying ValueN/AN/A
Nonperforming Loans598  (a)Gas Reserve StudyDiscount rate10.00%
Gas per MMBTU
$2.00 - $2.00 (b)
Oil per BBL/d
$50.00 - $50.00 (b)
Limited Partnership Investments14,981 Par ValueN/AN/A
 
(a)The remainder of nonperforming loans valued using Level 3 inputs are not included in this disclosure as the values of those loans are based on bankruptcy agreement documentation.
(b)Unobservable inputs are defined as follows: MMBTU - one million British thermal units; BBL/d - barrels per day.
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis
The tables below present the balances of assets and liabilities measured at fair value on a recurring basis:
 June 30, 2022
 Level 1Level 2Level 3Total
 (dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities - Residential$— $4,694 $— $4,694 
Mortgage-Backed Securities - Commercial— 308,870 — 308,870 
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities - Residential— 509,530 — 509,530 
Other Government-Sponsored Enterprises— 919 — 919 
Obligations of States and Political Subdivisions— 8,591 — 8,591 
Corporate Securities— 31,018 — 31,018 
Total Securities Available for Sale— 863,622 — 863,622 
Other Investments— 12,495 1,170 13,665 
Loans Held for Sale— 12,876 — 12,876 
Other Assets(a)
— 25,984 16,613 42,597 
Total Assets$— $914,977 $17,783 $932,760 
Other Liabilities(a)
$— $55,435 $— $55,435 
Total Liabilities$— $55,435 $— $55,435 
(a)Hedging and non-hedging interest rate derivatives and limited partnership investments
 December 31, 2021
 Level 1Level 2Level 3Total
 (dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities - Residential$— $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 $— $34,263 
(a)Hedging and non-hedging interest rate derivatives
Schedule of Assets Measured on Non-Recurring Basis
The tables below present the balances of assets measured at fair value on a nonrecurring basis at:
 June 30, 2022
 Level 1Level 2Level 3Total
 (dollars in thousands)
Nonperforming loans$— $23,938 $11,394 $35,332 
Other real estate owned— 122 — 122 
Total Assets$— $24,060 $11,394 $35,454 

 December 31, 2021
 Level 1Level 2Level 3Total
 (dollars in thousands)
Nonperforming loans$— $42,538 $12,247 $54,785 
Other real estate owned— 729 — 729 
Total Assets$— $43,267 $12,247 $55,514 
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques For the six months ended June 30, changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows:
 2022
 Other InvestmentsOther
Assets		Total
 (dollars in thousands)
Balance, beginning of period$1,170 $14,981 $16,151 
Total gains or losses
Included in earnings— — — 
Included in other comprehensive income— — — 
Purchases, issuances, sales and settlements
Purchases— 1,783 1,783 
Issuances— — — 
Sales— — — 
Settlements— (151)(151)
Transfers from Level 3— — — 
Transfers into Level 3— — — 
Balance, end of period$1,170 $16,613 $17,783 
 
 2021
 Other InvestmentsOther
Assets		Total
 (dollars in thousands)
Balance, beginning of period$1,670 $6,620 $8,290 
Total gains or losses
Included in earnings— — — 
Included in other comprehensive income— — — 
Purchases, issuances, sales and settlements
Purchases— 919 919 
Issuances— — — 
Sales— — — 
Settlements— (91)(91)
Transfers from Level 3— — — 
Transfers into Level 3— — — 
Balance, end of period$1,670 $7,448 $9,118 
For the three months ended June 30, changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows:
 2022
 Other InvestmentsOther
Assets		Total
 (dollars in thousands)
Balance, beginning of period$1,170 $15,999 $17,169 
Total gains or losses
Included in earnings— — — 
Included in other comprehensive income— — — 
Purchases, issuances, sales and settlements
Purchases— 740 740 
Issuances— — — 
Sales— — — 
Settlements— (126)(126)
Transfers from Level 3— — — 
Transfers into Level 3— — — 
Balance, end of period$1,170 $16,613 $17,783 
 
 2021
 Other InvestmentsOther
Assets		Total
 (dollars in thousands)
Balance, beginning of period$1,670 $7,010 $8,680 
Total gains or losses
Included in earnings— — — 
Included in other comprehensive income— — — 
Purchases, issuances, sales and settlements
Purchases— 529 529 
Issuances— — — 
Sales— — — 
Settlements— (91)(91)
Transfers from Level 3— — — 
Transfers into Level 3— — — 
Balance, end of period$1,670 $7,448 $9,118 
Losses Realized on Assets Measured on Non-Recurring Basis
The following losses were realized on the assets measured on a nonrecurring basis:
 For the Three Months Ended June 30,For the Six Months Ended June 30,
 2022202120222021
 (dollars in thousands)
Nonperforming loans$(367)$(2,527)$(567)$(2,314)
Other real estate owned(13)— (13)— 
Total losses$(380)$(2,527)$(580)$(2,314)
Carrying Amounts and Fair Values of Financial Instruments
The following table presents carrying amounts and fair values of First Commonwealth’s financial instruments:
 June 30, 2022
  Fair Value Measurements Using:
 Carrying
Amount		TotalLevel 1Level 2Level 3
 (dollars in thousands)
Financial assets
Cash and due from banks$120,267 $120,267 $120,267 $— $— 
Interest-bearing deposits179,533 179,533 179,533 — — 
Securities available for sale863,622 863,622 — 863,622 — 
Securities held to maturity492,229 437,880 — 437,880 — 
Other investments13,665 13,665 — 12,495 1,170 
Loans held for sale12,876 12,876 — 12,876 — 
Loans7,119,754 7,269,337 — 23,938 7,245,399 
Financial liabilities
Deposits8,053,545 8,044,453 — 8,044,453 — 
Short-term borrowings88,923 80,376 — 80,376 — 
Subordinated debt170,856 163,810 — — 163,810 
Long-term debt5,221 5,317 — 5,317 — 
Capital lease obligation5,675 5,675 — 5,675 — 
 December 31, 2021
  Fair Value Measurements Using:
 Carrying
Amount		TotalLevel 1Level 2Level 3
 (dollars in thousands)
Financial assets
Cash and due from banks$84,738 $84,738 $84,738 $— $— 
Interest-bearing deposits310,634 310,634 310,634 — — 
Securities available for sale1,041,380 1,041,380 — 1,041,380 — 
Securities held to maturity541,311 536,651 — 536,651 — 
Other investments12,838 12,838 — 11,668 1,170 
Loans held for sale18,583 18,583 — 18,583 — 
Loans6,839,230 7,169,768 — 42,538 7,127,230 
Financial liabilities
Deposits7,982,498 7,980,101 — 7,980,101 — 
Short-term borrowings138,315 136,473 — 136,473 — 
Subordinated debt170,775 175,040 — — 175,040 
Long-term debt5,573 6,065 — 6,065 — 
Capital lease obligation5,921 5,921 — 5,921 —