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Business Combinations and Asset Acquisitions
9 Months Ended
Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]  
Business Combination Disclosure AcquisitionOn August 30, 2022, we entered into an agreement and plan of merger to acquire Centric Financial Corporation (“Centric”) and its banking subsidiary, Centric Bank. Based on June 30, 2022 carrying values, Centric will contribute approximately $1.0 billion in total assets, $0.9 billion in total deposits and $0.9 billion in total loans in addition to seven full-service banking offices and one loan production office in the Harrisburg, Philadelphia and Lancaster MSAs. The acquisition is an all-stock transaction and Centric shareholders will be entitled to receive a fixed exchange ratio of 1.09 shares of First Commonwealth common stock for each Centric common stock. This merger is expected to be completed in the first quarter of 2023, subject to certain closing conditions, including approval by Centric Shareholders and customary bank regulatory approvals.