Exhibit 99.1

*** NEWS RELEASE ***

TO:	All Area News Agencies	For More Information Contact:
FROM:	First Commonwealth Financial Corporation	Edward J. Lipkus III, Executive Vice President and Chief Financial Officer First Commonwealth Financial Corporation
DATE:	July 17, 2008	(724) 349-7220

First Commonwealth Announces Improved Second Quarter 2008 Financial Results

Net Income Increases 12.4%;

Growth in Commercial Loans and Net Interest Income Continues

Indiana, PA., July 17, 2008 - First Commonwealth Financial Corporation (NYSE: FCF), the holding company for First Commonwealth Bank, announced today the financial results for the second quarter of 2008.

Second Quarter Results

First Commonwealth reported second quarter 2008 net income of $12.9 million or $0.18 per diluted share compared to $11.5 million or $0.16 per diluted share in the same period last year and $11.1 million or $0.15 for the first quarter of 2008. Net income increased $1.4 million or 12.4% from the comparable period last year primarily due to increases in net interest income and non-interest income, partly offset by a larger provision for credit losses, higher non-interest expense and an increased provision for income taxes. Compared to the first quarter of 2008, net income increased $1.8 million or 16.1% mainly due to increased net interest income partly offset by an increase in the provision for credit losses and a decrease in non-interest income. Second quarter return on average equity and average assets increased to 9.03% and 0.84%, respectively, compared to 8.00% and 0.79% for the prior year period and 7.73% and 0.75% for the first quarter of 2008.

Developments during the second quarter included:

• Total loans increased 11.9% and commercial loans increased 27.6% year over year.

• Net interest income increased 17.8% year over year.

• Net interest margin, on a tax equivalent basis, improved 23 basis points year over year.

1

“I am pleased with the positive financial results First Commonwealth experienced this quarter and for the first six months of 2008,” said John J. Dolan, President and CEO. “Overall, we are seeing the continuation of momentum that began during the first quarter of 2008 across all of our lines of business, which gives us reason to be optimistic about the continued growth of our core banking business during the balance of 2008. Our client-centric focus of becoming ‘First Choice’ in our market place has contributed to balance sheet and revenue growth during these challenging economic conditions.”

Net Interest Income and Margin

Net interest income increased $5.8 million, or 14.2% from the first quarter of 2008, representing four consecutive quarters of growth. Additionally, net interest income increased $7.1 million, or 17.8% compared to the second quarter of 2007. This improvement is primarily due to increased levels of interest earning assets, particularly in commercial loans. Total loans increased $438.7 million, or 11.9% year over year and increased $220.2 million, or 5.7% compared to the prior quarter. Investment securities increased $55.9 million, or 3.7% year over year and decreased $106.4 million, or 6.3% compared to the prior quarter.

The net interest margin on a tax equivalent basis for the second quarter 2008 increased 23 basis points to 3.54% compared with 3.31% in the corresponding period last year and increased 26 basis points from the first quarter of 2008. The cost of our interest-bearing liabilities declined faster than our yield on total interest-earning assets in both comparisons. Net loan prepayment fees of $1.6 million were recorded in the second quarter of 2008, which had a positive effect on the net interest margin of 12 basis points. Average noninterest-bearing demand deposits increased $24.6 million, or 4.8% in the second quarter of 2008 compared to the same period last year which additionally had a favorable effect on the net interest margin.

Average interest-earning assets were $407.7 million higher in the second quarter of 2008 compared to the second quarter of 2007 driven by an increase in average loans of $355.5 million and an increase in average investment securities of $52.2 million. Average interest-earning assets increased $206.0 million, or 3.8% over the first quarter of 2008 due to an average increase of $212.6 million in loans while average investment securities remained relatively flat. Average borrowings increased $455.2 million in the second quarter of 2008 compared to the same period in 2007 and increased $253.1 million compared to the first quarter of 2008 primarily to fund growth in interest-earning assets.

Non-Interest Income

Excluding net security gains and losses, non-interest income in the second quarter of 2008 increased $1.3 million, or 10.5% from the same period last year and increased $585 thousand, or 4.5% from the first quarter of 2008. Including net security gains and losses, non-interest income for the second quarter of 2008 increased $688 thousand, or 5.5%, from the second quarter of 2007 and decreased $367 thousand, or 2.7% from the first quarter of 2008. The increase in the year to year comparison was primarily due to higher insurance commissions, greater service charges on deposits and increased card related interchange income. Higher sales, additional producers and an enhanced calling program resulted in increased insurance commissions. Service

2

charges on deposit accounts increased as a result of increased activity and accounts. Card related interchange income increased primarily due to increased usage in debit cards.

In the second quarter of 2008, $541 thousand in write-downs for other than temporary impairment were recorded on equity securities issued by two financial institutions. These losses are reflected in net security gains and losses.

Non-Interest Expense

Non-interest expense for the second quarter of 2008 increased $2.0 million, or 5.4%, compared to the second quarter of 2007 and remained flat from the first quarter of 2008.

During the second quarter of 2008, salaries and employee benefits increased $1.8 million, or 9.9% from the comparable period in 2007, primarily due to the rise in compensation related to the growth in loans, insurance sales and net income and annual merit increases.

Income Tax

The provision for income taxes increased $1.4 million for the second quarter of 2008 compared to the same period in 2007. First Commonwealth’s effective tax rate was 18.1% in the second quarter of 2008 compared to 11.2% in the same period in 2007 and 11.1% in the first quarter of 2008. Nontaxable income and tax credits had a smaller impact on the effective tax rate due to increases in pretax income.

Credit Quality and Provision for Credit Losses

First Commonwealth is not a participant or underwriter in the sub-prime mortgage loan or sub-prime collateralized debt marketplace and therefore does not have any direct exposure to risks associated with these activities. All mortgage backed securities in First Commonwealth’s portfolio are AAA rated and backed by U.S. Government agencies.

For the quarter ending June 30, 2008, non-accrual loans increased approximately $2.1 million from the first quarter of 2008 due mainly to an addition of one $5.0 million commercial loan, partly offset by the successful workout of several smaller credits. The $5.0 million loan is a construction loan that is collateralized with real estate. Non-accrual loans increased $3.2 million to $50.9 million at June 30, 2008 compared to $47.7 million at June 30, 2007. Included in this amount is a $30.0 million commercial credit relationship that has been monitored since the second quarter of 2006 and was placed on non-accrual during the second quarter of 2007. This credit is collateralized by real estate and equipment and a reserve has been allocated, primarily during 2006, to cover the expected losses. The payment of principal and interest on this credit has been deferred pursuant to a loan forbearance agreement that will expire during the third quarter of 2008. Management continues to monitor the borrower closely and is presently evaluating options with respect to the collection or resolution of this credit.

3

Loans past due in excess of 90 days and still accruing at June 30, 2008 increased $352 thousand to $14.2 million compared to June 30, 2007 but decreased $5.9 million from March 31, 2008. The decrease for the current quarter is primarily related to the aforementioned $5.0 million commercial loan moving into non-accrual loans. The provision for credit losses for the second quarter of 2008 increased $2.9 million compared to the second quarter of 2007 and increased $2.2 million from the first quarter this year. The increase was mainly due to growth in the portfolio as well as the addition of the aforementioned $5.0 million commercial loan to non-accrual loans.

Management believes that the allowance for credit losses is at a level deemed sufficient to absorb losses inherent in the loan portfolio at June 30, 2008.

Year-to-Date Results

For the six months ended June 30, 2008, First Commonwealth recorded net income of $24.0 million, a 7.4% increase, compared to the $22.4 million reported for the same period of 2007. On a per share basis, year-to-date net income was $0.33 per diluted share compared to $0.31 per diluted share for the first half of 2007. Return on average equity and average assets increased to 8.38% and 0.79%, respectively, compared to 7.82% and 0.77% for the first six months of 2007.

Net interest income for the six months ended June 30, 2008 was 8.5% higher than the comparable period last year, reflecting growth in average loans of 6.1%. The net interest margin for the first half of 2008 increased to 3.41% from 3.34% for the same period in 2007 as the cost of interest-bearing liabilities declined faster than the yield on total interest-earning assets. Net loan prepayment fees of $1.6 million recorded in 2008 had a positive effect on the net interest margin of five basis points.

Non-interest income for the six months ending June 30, 2008 increased $2.7 million, or 11.4%, from the same period last year primarily from the $1.1 million rise in insurance commissions and the $1.2 million increase in other income. The growth in insurance commissions was the result of higher sales driven by additional producers and an enhanced calling program. Other income increased due to the growth in letter of credit fees and swap fees.

Non-interest expense year-to-date June 30, 2008 increased $3.1 million, or 4.1%, from the comparable period in 2007 due to the $1.9 million growth in salaries and employee benefits and the $884 thousand increase in net occupancy expense. Salaries and employee benefits increased primarily as a result of higher compensation related to the loan growth, greater insurance sales and higher net income, as well as annual merit increases. The increase in net occupancy expense was the result of higher rental expense and building repairs and maintenance.

The provision for income taxes for the six months ended June 30, 2008 increased $1.8 million from the same period last year due to the $3.4 million rise in income before income taxes. The Company’s effective tax rate was 15.0% in the first six months of 2008 compared to 10.0% in the same period in 2007. In 2008, nontaxable income and tax credits had a smaller impact on the effective tax rate due to an increase in pretax income of $3.4 million.

4

About First Commonwealth Financial Corporation

First Commonwealth Financial Corporation is a $6.3 billion bank holding company headquartered in Indiana, Pennsylvania. It operates 112 retail branch offices in 15 counties in western and central Pennsylvania through First Commonwealth Bank, a Pennsylvania chartered bank and trust company. Financial services and insurance products are also provided through First Commonwealth Insurance Agency and First Commonwealth Financial Advisors, Inc.

Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the adequacy of First Commonwealth’s allowance for credit losses, expectations of continued growth and the impact of recent organizational changes and strategic initiatives on future results. Forward-looking statements describe First Commonwealth’s future plans, strategies and expectations and are based on assumptions and involve risks and uncertainties, many of which are beyond the control of First Commonwealth and which may cause actual results, performance or achievements to differ materially from the results, performance or achievements contemplated by the forward-looking statements. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could” or “may.” Forward-looking statements speak only as of the date they are made. Such risks and uncertainties include among other things:

• adverse changes in the economy or business conditions, either nationally or in First Commonwealth’s market areas, which could increase credit-related losses and expenses and/or limit growth;

• increases in defaults by borrowers and other delinquencies, which could result in an increased provision for credit losses on loans and related expenses;

• fluctuations in interest rates and market prices, which could reduce net interest margin and asset valuations and increase expenses;

• changes in legislative or regulatory requirements applicable to First Commonwealth and its subsidiaries, which could increase costs, limit certain operations and adversely affect results of operations;

• the inability to successfully execute First Commonwealth’s strategic growth initiatives, which could limit future revenue and earnings growth; and

• other risks and uncertainties described in First Commonwealth’s reports filed with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K.

5

FIRST COMMONWEALTH FINANCIAL CORPORATION

CONSOLIDATED SELECTED FINANCIAL DATA

(dollars in thousands, except share data)

	For the Quarter Ended											For the Six Months Ended
	June 30, 2008			March 31, 2008		December 31, 2007		September 30, 2007		June 30, 2007		June 30, 2008		June 30, 2007
Interest Income
Interest and fees on loans	$	62,614		$	62,067	$	63,488	$	63,737	$	62,813	$	124,681	$	126,726
Interest and dividends on investments:
Taxable interest		15,578			15,531		14,967		14,259		14,889		31,109		31,034
Interest exempt from Federal income taxes		3,347			3,595		3,510		3,424		3,427		6,942		6,798
Dividends		678			609		752		753		720		1,287		1,453
Interest on Federal funds sold		2			0		74		57		2		2		26
Interest on bank deposits		2			5		8		8		10		7		21
Total interest income		82,221			81,807		82,799		82,238		81,861		164,028		166,058
Interest Expense
Interest on deposits		25,370			31,033		34,527		33,786		32,872		56,403		64,457
Interest on short-term borrowings		4,251			3,705		1,819		1,977		2,700		7,956		7,646
Interest on subordinated debentures		1,878			1,911		2,156		2,130		2,123		3,789		4,240
Interest on other long-term debt		3,791			4,074		4,139		4,211		4,327		7,865		8,625
Total interest on long-term debt		5,669			5,985		6,295		6,341		6,450		11,654		12,865
Total interest expense		35,290			40,723		42,641		42,104		42,022		76,013		84,968
Net Interest Income		46,931			41,084		40,158		40,134		39,839		88,015		81,090
Provision for credit losses		5,361			3,179		2,352		2,296		2,415		8,540		5,394
Net Interest Income after provision for credit losses		41,570			37,905		37,806		37,838		37,424		79,475		75,696
Non-Interest Income
Net securities (losses) gains		(451	)		501		403		16		150		50		755
Trust income		1,538			1,532		1,428		1,517		1,518		3,070		2,936
Service charges on deposit accounts		4,786			4,425		4,690		4,609		4,517		9,211		8,682
Insurance commissions		1,394			1,277		909		1,064		857		2,671		1,587
Income from bank owned life insurance		1,446			1,487		1,557		1,534		1,520		2,933		3,010
Card related interchange income		1,950			1,753		1,791		1,654		1,634		3,703		3,119
Other income		2,426			2,481		2,052		1,819		2,205		4,907		3,738
Total non-interest income		13,089			13,456		12,830		12,213		12,401		26,545		23,827
Non-Interest Expense
Salaries and employee benefits		20,428			20,330		18,859		18,401		18,588		40,758		38,872
Net occupancy expense		3,728			3,907		3,484		3,475		3,398		7,635		6,751
Furniture and equipment expense		3,058			3,078		3,126		3,243		2,914		6,136		5,631
Advertising expense		401			628		957		475		340		1,029		1,435
Data processing expense		996			1,051		987		942		925		2,047		1,879
Pennsylvania shares tax expense		1,339			1,271		1,446		1,439		1,415		2,610		2,884
Intangible amortization		832			831		831		857		870		1,663		1,740
Other expenses		8,103			7,760		7,185		7,648		8,433		15,863		15,460
Total non-interest expense		38,885			38,856		36,875		36,480		36,883		77,741		74,652
Income before income taxes		15,774			12,505		13,761		13,571		12,942		28,279		24,871
Provision for income taxes		2,861			1,384		2,113		1,352		1,454		4,245		2,488
Net Income	$	12,913		$	11,121	$	11,648	$	12,219	$	11,488	$	24,034	$	22,383
Average Shares Outstanding		72,624,053			72,452,875		72,391,577		72,589,329		73,180,532		72,538,464		73,147,362
Average Shares Outstanding Assuming Dilution		72,734,711			72,559,668		72,513,962		72,705,753		73,314,997		72,647,190		73,342,684
Per Share Data:
Basic Earnings Per Share	$	0.18		$	0.15	$	0.16	$	0.17	$	0.16	$	0.33	$	0.31
Diluted Earnings Per Share	$	0.18		$	0.15	$	0.16	$	0.17	$	0.16	$	0.33	$	0.31
Cash Dividends Declared per Common Share	$	0.17		$	0.17	$	0.17	$	0.17	$	0.17	$	0.34	$	0.34

FIRST COMMONWEALTH FINANCIAL CORPORATION

CONSOLIDATED SELECTED FINANCIAL DATA

(dollars in thousands, except share data)

	June 30, 2008			March 31, 2008			December 31, 2007			September 30, 2007			June 30, 2007
Assets
Cash and due from banks	$	101,860		$	92,554		$	100,791		$	86,499		$	92,407
Interest-bearing bank deposits		347			219			1,719			1,060			1,310
Securities available for sale, at market value		1,524,106			1,623,788			1,574,217			1,460,909			1,451,019
Securities held to maturity, at amortized cost, (Market value $59,562 at June 30, 2008 and $72,928 at December 31, 2007)		59,200			65,935			71,497			73,024			76,366
Loans:
Portfolio loans, net of unearned income		4,113,423			3,893,183			3,697,819			3,660,123			3,674,688
Allowance for credit losses		(44,505	)		(41,613	)		(42,396	)		(43,210	)		(43,968	)
Net loans		4,068,918			3,851,570			3,655,423			3,616,913			3,630,720
Premises and equipment, net		69,890			69,191			69,487			70,133			70,567
Other real estate owned		3,271			3,280			2,172			1,803			1,241
Goodwill		159,956			159,956			159,956			159,956			160,755
Amortizing intangibles, net		11,778			12,609			13,441			14,272			15,129
Other assets		252,086			239,877			234,915			237,527			235,674
Total assets	$	6,251,412		$	6,118,979		$	5,883,618		$	5,722,096		$	5,735,188
Liabilities
Deposits (all domestic):
Noninterest-bearing	$	568,158		$	542,331		$	523,203		$	522,810		$	530,063
Interest-bearing		3,744,311			3,778,337			3,824,016			3,811,133			3,877,708
Total deposits		4,312,469			4,320,668			4,347,219			4,333,943			4,407,771
Short-term borrowings		834,226			642,869			354,201			237,734			147,346
Other liabilities		47,805			48,259			65,464			44,156			43,807
Subordinated debentures		105,750			105,750			105,750			108,250			108,250
Other long-term debt		404,464			426,955			442,196			435,781			467,856
Total long-term debt		510,214			532,705			547,946			544,031			576,106
Total liabilities		5,704,714			5,544,501			5,314,830			5,159,864			5,175,030
Shareholders’ Equity
Preferred stock, $1 par value per share, 3,000,000 shares authorized, none issued		0			0			0			0			0
Common stock, $1 par value per share, 200,000,000 shares authorized, 75,100,431 shares issued and 73,280,415 shares outstanding at June 30, 2008; 100,000,000 shares authorized, 75,100,431 shares issued and 73,128,612 shares outstanding at December 31, 2007		75,100			75,100			75,100			75,100			75,100
Additional paid-in capital		206,245			206,498			206,889			207,310			207,553
Retained earnings		317,611			317,058			319,246			319,472			319,677
Accumulated other comprehensive (loss) income, net		(22,604	)		7,215			(147	)		(6,736	)		(15,417	)
Treasury stock (1,820,016 and 1,971,819 shares at June 30, 2008 and December 31, 2007, respectively, at cost)		(21,054	)		(22,293	)		(22,700	)		(22,814	)		(16,155	)
Unearned ESOP shares		(8,600	)		(9,100	)		(9,600	)		(10,100	)		(10,600	)
Total shareholders’ equity		546,698			574,478			568,788			562,232			560,158
Total liabilities and shareholders’ equity	$	6,251,412		$	6,118,979		$	5,883,618		$	5,722,096		$	5,735,188
Book value per share	$	7.46		$	7.85		$	7.78		$	7.69		$	7.59
Market value per share	$	9.33		$	11.59		$	10.65		$	11.06		$	10.92

FIRST COMMONWEALTH FINANCIAL CORPORATION

CONSOLIDATED SELECTED FINANCIAL DATA

Loans by Categories

(dollars in thousands)

	June 30, 2008		March 31, 2008		December 31, 2007		September 30, 2007		June 30, 2007
Commercial, financial, agricultural and other	$	1,115,536	$	1,052,971	$	926,904	$	901,679	$	866,590
Real estate - construction		307,278		241,114		207,708		143,680		123,844
Real estate - residential		1,235,334		1,230,928		1,237,986		1,268,313		1,288,089
Real estate - commercial		988,186		909,613		861,077		865,389		899,669
Loans to individuals		467,089		458,557		464,082		480,926		496,191
Leases, net of unearned income		0		0		62		136		305
Total loans and leases, net of unearned income	$	4,113,423	$	3,893,183	$	3,697,819	$	3,660,123	$	3,674,688

FIRST COMMONWEALTH FINANCIAL CORPORATION

CONSOLIDATED SELECTED FINANCIAL DATA

Quarter To Date Average Balance Sheets and Net Interest Analysis at June 30,

(dollars in thousands)

	2008							2007
	Average Balance			Income/ Expense		Yield or Rate (a)		Average Balance			Income/ Expense		Yield or Rate (a)
Assets
Interest-earning assets:
Interest-bearing deposits with banks	$	349		$	2	2.05	%	$	557		$	10	7.62	%
Tax-free investment securities		300,631			3,347	6.89	%		304,420			3,427	6.95	%
Taxable investment securities		1,334,118			16,256	4.90	%		1,278,179			15,609	4.90	%
Federal funds sold		286			2	2.53	%		74			2	5.30	%
Loans, net of unearned income (b)(c)		4,048,141			62,614	6.35	%		3,692,625			62,813	7.03	%
Total interest-earning assets		5,683,525			82,221	6.04	%		5,275,855			81,861	6.51	%
Noninterest-earning assets:
Cash		74,860							84,120
Allowance for credit losses		(42,011	)						(44,067	)
Other assets		498,205							491,596
Total noninterest-earning assets		531,054							531,649
Total Assets	$	6,214,579						$	5,807,504
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Interest-bearing demand deposits (d)	$	609,977		$	1,241	0.82	%	$	602,948		$	2,705	1.80	%
Savings deposits (d)		1,130,583			4,149	1.48	%		1,132,360			6,474	2.29	%
Time deposits		2,027,373			19,980	3.96	%		2,106,084			23,693	4.51	%
Short-term borrowings		775,183			4,251	2.21	%		263,559			2,700	4.11	%
Long-term debt		520,733			5,669	4.38	%		577,178			6,450	4.48	%
Total interest-bearing liabilities		5,063,849			35,290	2.80	%		4,682,129			42,022	3.60	%
Noninterest-bearing liabilities and capital:
Noninterest-bearing demand deposits (d)		541,752							517,111
Other liabilities		34,017							32,335
Shareholders’ equity		574,961							575,929
Total noninterest-bearing funding sources		1,150,730							1,125,375
Total Liabilities and Shareholders’ Equity	$	6,214,579						$	5,807,504
Net Interest Income and Net Yield on Interest-Earning Assets				$	46,931	3.54	%				$	39,839	3.31	%

(a) Yields on interest-earning assets have been computed on a tax equivalent basis using the 35% Federal income tax statutory rate.

(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.

FIRST COMMONWEALTH FINANCIAL CORPORATION

CONSOLIDATED SELECTED FINANCIAL DATA

Year To Date Average Balance Sheets and Net Interest Analysis at June 30,

(dollars in thousands)

	2008							2007
	Average Balance			Income/ Expense		Yield or Rate (a)		Average Balance			Income/ Expense		Yield or Rate (a)
Assets
Interest-earning assets:
Interest-bearing deposits with banks	$	448		$	7	3.06	%	$	590		$	21	7.17	%
Tax-free investment securities		310,411			6,942	6.92	%		302,235			6,798	6.98	%
Taxable investment securities		1,327,618			32,396	4.91	%		1,329,255			32,487	4.93	%
Federal funds sold		164			2	2.57	%		967			26	5.30	%
Loans, net of unearned income (b)(c)		3,941,864			124,681	6.51	%		3,714,927			126,726	7.09	%
Total interest-earning assets		5,580,505			164,028	6.15	%		5,347,974			166,058	6.54	%
Noninterest-earning assets:
Cash		74,360							83,609
Allowance for credit losses		(42,185	)						(43,696	)
Other assets		492,876							488,804
Total noninterest-earning assets		525,051							528,717
Total Assets	$	6,105,556						$	5,876,691
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Interest-bearing demand deposits (d)	$	591,549		$	2,988	1.02	%	$	592,811		$	5,276	1.79	%
Savings deposits (d)		1,109,822			9,497	1.72	%		1,127,468			12,554	2.25	%
Time deposits		2,095,883			43,918	4.21	%		2,108,210			46,627	4.46	%
Short-term borrowings		634,479			7,956	2.52	%		350,367			7,646	4.40	%
Long-term debt		534,874			11,654	4.38	%		579,223			12,865	4.48	%
Total interest-bearing liabilities		4,966,607			76,013	3.08	%		4,758,079			84,968	3.60	%
Noninterest-bearing liabilities and capital:
Noninterest-bearing demand deposits (d)		525,951							510,332
Other liabilities		36,037							31,187
Shareholders’ equity		576,961							577,093
Total noninterest-bearing funding sources		1,138,949							1,118,612
Total Liabilities and Shareholders’ Equity	$	6,105,556						$	5,876,691
Net Interest Income and Net Yield on Interest-Earning Assets				$	88,015	3.41	%				$	81,090	3.34	%

(a) Yields on interest-earning assets have been computed on a tax equivalent basis using the 35% Federal income tax statutory rate.

(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.

FIRST COMMONWEALTH FINANCIAL CORPORATION

CONSOLIDATED SELECTED FINANCIAL DATA

Asset Quality Data

(dollars in thousands)

	June 30, 2008			March 31, 2008			December 31, 2007			September 30, 2007			June 30, 2007
Loans on non-accrual basis	$	50,910		$	48,799		$	54,119		$	50,161		$	47,738
Troubled debt restructured loans		139			143			147			150			154
Total nonperforming loans	$	51,049		$	48,942		$	54,266		$	50,311		$	47,892
Loans past due in excess of 90 days and still accruing	$	14,210		$	20,066		$	12,853		$	13,677		$	13,858
Loans outstanding at end of period	$	4,113,423		$	3,893,183		$	3,697,819		$	3,660,123		$	3,674,688
Average loans outstanding	$	3,941,864		$	3,835,587		$	3,687,037		$	3,694,124		$	3,714,927
Allowance for credit losses	$	44,505		$	41,613		$	42,396		$	43,210		$	43,968
Nonperforming loans as a percentage of total loans		1.24	%		1.26	%		1.47	%		1.37	%		1.30	%
Provision for credit losses	$	8,540		$	3,179		$	10,042		$	7,690		$	5,394
Net credit losses	$	6,431		$	3,962		$	10,294		$	7,128		$	4,074
Net credit losses as a percentage of average loans outstanding (annualized)		0.33	%		0.42	%		0.28	%		0.26	%		0.22	%
Allowance for credit losses as a percentage of average loans outstanding		1.13	%		1.08	%		1.15	%		1.17	%		1.18	%
Allowance for credit losses as a percentage of nonperforming loans		87.18	%		85.03	%		78.13	%		85.89	%		91.81	%
Other real estate owned	$	3,271		$	3,280		$	2,172		$	1,803		$	1,241

Profitability Ratios

(dollars in thousands)

	For the Quarter Ended										For the Six Months Ended
	June 30, 2008		March 31, 2008		December 31, 2007		September 30, 2007		June 30, 2007		June 30, 2008		June 30, 2007
Return on average assets	0.84	%	0.75	%	0.80	%	0.85	%	0.79	%	0.79	%	0.77	%
Return on average equity	9.03	%	7.73	%	8.08	%	8.59	%	8.00	%	8.38	%	7.82	%
Net interest margin (a)	3.54	%	3.28	%	3.32	%	3.36	%	3.31	%	3.41	%	3.34	%
Efficiency ratio (b)	61.63	%	66.78	%	65.15	%	65.17	%	65.88	%	64.10	%	66.43	%
Fully tax equivalent adjustment	$3,078		$3,648		$3,614		$3,633		$3,745		$6,726		$7,460

(a) Net interest margin has been computed on a tax equivalent basis using the 35% Federal income tax statutory rate.

(b) Efficiency ratio is “total non-interest expense” as a percentage of total revenue.

Total revenue consists of “net interest income, on a fully tax-equivalent basis,” plus “total non-interest income.”