8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 6, 2009

First Commonwealth Financial Corporation

(Exact name of registrant as specified in its charter)

Pennsylvania	001-11138	25-1428528
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

22 North Sixth Street, Indiana, PA	15701
(Address of principal executive offices)	(Zip Code)

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

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On November 6, 2009, First Commonwealth Financial Corporation issued a press release updating the previously-announced financial results for the three and nine month period ended September 30, 2009. This update reflects the impact of two events which occurred subsequent to the release of its preliminary financial results on October 22, 2009. A copy of this press release and the related earnings tables are furnished as Exhibit 99.1 to this report and incorporated herein by reference.

Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits

99.1 Press release dated November 6, 2009 announcing revised earnings for the three and nine months ended September 30, 2009.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: November 6, 2009

FIRST COMMONWEALTH FINANCIAL CORPORATION
By:	/S/    TERESA CIAMBOTTI
Name:	Teresa Ciambotti
Title:	Senior Vice President and Controller Principal Financial Officer

EX-99.1

Exhibit 99.1

*** NEWS RELEASE ***

TO:	All Area News Agencies
FROM:	First Commonwealth
	Financial Corporation
DATE:	November 6, 2009

First Commonwealth Updates Third Quarter 2009 Financial Results

based upon Subsequent Events

Indiana, PA., November 6, 2009—First Commonwealth Financial Corporation (NYSE: FCF), the holding company for First Commonwealth Bank, today announced that it has updated the previously-announced financial results for the third quarter ended September 30, 2009 to reflect the impact of two events which occurred subsequent to the release of its preliminary financial results on October 22, 2009.

The first event was the announcement by a bank with securities in two of the pooled trust preferred collateralized debt obligations held by First Commonwealth that it intends to defer interest payment on its trust preferred securities beginning in the fourth quarter of 2009. This deferral resulted in $2.0 million of additional other-than-temporary impairment charges for the quarter ended September 30, 2009.

The second event was the receipt of updated financial information and projections from a commercial real estate borrower that prompted management to downgrade the relationship, which resulted in a $1.6 million increase in the provision for credit losses for the quarter ended September 30, 2009. The credit remains on accrual status. This borrower is also a party to an interest rate swap transaction with First Commonwealth, and the downgrade of the credit relationship resulted in a charge of $770 thousand for credit risk relating to the interest rate swap. This charge for the quarter reduced the “other operating income” line of the income statement.

The cumulative effect of these events increased the net loss for the third quarter and nine months ended September 30, 2009 to $5.9 million and $22.8 million, respectively, or ($0.07) and ($0.27) per diluted share. The allowance for credit losses increased to $90.5 million at September 30, 2009, or 2.00% as a percentage of average loans outstanding.

For additional information, refer to First Commonwealth Financial Corporation’s Form 10-Q for the quarterly period ended September 30, 2009, filed today with the Securities and Exchange Commission.

About First Commonwealth Financial Corporation

First Commonwealth Financial Corporation is a $6.5 billion bank holding company headquartered in Indiana, Pennsylvania. It operates 115 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, liquidity and capital; and expected future cash flows from investments in trust preferred collateralized debt obligations. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and 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 describe First Commonwealth’s future plans, strategies and expectations. These plans, strategies and expectations 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. Such risks and uncertainties include, among other things:

• Deepened or prolonged weakness in economic and business conditions, nationally and in First Commonwealth’s market areas, which could increase credit-related losses and expenses and limit growth;

• Further declines in the market value of investment securities that are considered to be other-than-temporary, which would negatively impact First Commonwealth’s earnings and capital levels;

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

• Reduced wholesale funding capacity or higher borrowing costs due to capital constraints at the Federal Home Loan Bank, which would reduce First Commonwealth’s liquidity and negatively impact earnings and net interest margin;

• 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; 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.

Forward-looking statements speak only as of the date on which they are made. First Commonwealth undertakes no obligation to update any forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

CONTACT: First Commonwealth Financial Corporation

    Investor Relations: Donald A. Lawry, Vice President 724-349-7220

    Media: Susie Barbour, Communications & Media Relations Supervisor 724-463-5618

FIRST COMMONWEALTH FINANCIAL CORPORATION

CONSOLIDATED SELECTED FINANCIAL DATA

(dollars in thousands, except share data)

	For the Quarter Ended															For the Nine Months Ended
	September 30, 2009			June 30, 2009			March 31, 2009			December 31, 2008			September 30, 2008			September 30, 2009			September 30, 2008
Interest Income
Interest and fees on loans	$	57,085		$	57,793		$	58,275		$	64,580		$	62,285		$	173,153		$	186,966
Interest and dividends on investments:
Taxable interest		12,406			13,177			13,708			14,434			15,013			39,291			46,122
Interest exempt from Federal income taxes		2,540			2,660			2,894			3,025			3,176			8,094			10,118
Dividends		31			89			63			389			663			183			1,950
Interest on Federal funds sold		0			0			0			0			0			0			2
Interest on bank deposits		1			1			1			1			2			3			9
Total interest income		72,063			73,720			74,941			82,429			81,139			220,724			245,167
Interest Expense
Interest on deposits		17,014			17,874			19,576			22,045			23,069			54,464			79,472
Interest on short-term borrowings		947			1,133			1,347			2,238			4,634			3,427			12,590
Interest on subordinated debentures		1,447			1,559			1,766			1,908			1,870			4,772			5,659
Interest on other long-term debt		1,672			1,666			1,653			3,582			3,639			4,991			11,504
Total interest on long-term debt		3,119			3,225			3,419			5,490			5,509			9,763			17,163
Total interest expense		21,080			22,232			24,342			29,773			33,212			67,654			109,225
Net Interest Income		50,983			51,488			50,599			52,656			47,927			153,070			135,942
Provision for credit losses		23,020			48,248			8,242			10,642			3,913			79,510			12,453
Net Interest Income after provision for credit losses		27,963			3,240			42,357			42,014			44,014			73,560			123,489
Non-Interest Income
Impairment losses on securities		(25,473	)		(14,421	)		(28,589	)		(3,850	)		(8,619	)		(68,483	)		(9,161	)
Noncredit-related losses on securities not expected to be sold (recognized in other comprehensive income) (a)		13,570			5,660			18,723			0			0			37,953			0
Net impairment losses		(11,903	)		(8,761	)		(9,866	)		(3,850	)		(8,619	)		(30,530	)		(9,161	)
Net securities gains		44			56			24			15			910			124			1,502
Trust income		1,366			1,151			1,087			1,125			1,444			3,604			4,514
Service charges on deposit accounts		4,555			4,406			3,837			4,555			4,792			12,798			14,003
Insurance and retail brokerage commissions		2,068			1,756			1,616			1,236			1,390			5,440			4,061
Income from bank owned life insurance		1,078			1,034			1,138			1,155			1,435			3,250			4,368
Card related interchange income		2,224			2,138			1,896			1,956			1,950			6,258			5,653
Other operating income		1,569			4,935			3,008			3,820			2,972			9,512			7,879
Total non-interest income		1,001			6,715			2,740			10,012			6,274			10,456			32,819
Non-Interest Expense
Salaries and employee benefits		21,405			21,081			22,500			21,658			21,091			64,986			61,849
Net occupancy expense		3,263			3,528			4,000			3,807			3,613			10,791			11,248
Furniture and equipment expense		3,121			2,977			2,975			2,845			2,995			9,073			9,131
Data processing expense		1,136			1,165			1,132			1,161			1,075			3,433			3,122
Pennsylvania shares tax expense		1,310			1,312			1,331			1,357			1,342			3,953			3,952
Intangible amortization		684			743			743			743			802			2,170			2,465
FDIC insurance		2,046			4,863			1,521			182			179			8,430			427
Other operating expenses		8,980			9,666			9,146			10,124			7,900			27,792			24,544
Total non-interest expense		41,945			45,335			43,348			41,877			38,997			130,628			116,738
(Loss) Income before income taxes		(12,981	)		(35,380	)		1,749			10,149			11,291			(46,612	)		39,570
Income tax (benefit) provision		(7,120	)		(16,761	)		62			1,260			1,127			(23,819	)		5,372
Net (Loss) Income	$	(5,861	)	$	(18,619	)	$	1,687		$	8,889		$	10,164		$	(22,793	)	$	34,198
Average Shares Outstanding		84,594,952			84,559,889			84,521,266			80,076,383			72,715,709			84,558,972			72,597,977
Average Shares Outstanding Assuming Dilution		84,597,649			84,597,997			84,582,545			80,179,260			72,817,216			84,592,785			72,704,279
Per Share Data:
Basic Earnings Per Share	$	(0.07	)	$	(0.22	)	$	0.02		$	0.11		$	0.14		$	(0.27	)	$	0.47
Diluted Earnings Per Share	$	(0.07	)	$	(0.22	)	$	0.02		$	0.11		$	0.14		$	(0.27	)	$	0.47
Cash Dividends Declared per Common Share	$	0.03		$	0.00		$	0.12		$	0.17		$	0.17		$	0.15		$	0.51

(a) In accordance with the early adoption of Financial Accounting Standards Board Accounting Standards Codification 320-10-65, Transition Related to FSP FAS 115-2 and FAS 124-2, Recognition and Presentation of Other-than-Temporary Impairments, as of January 1, 2009, prior period net impairment losses are not restated; but rather reflect both credit and non-credit related impairment.

FIRST COMMONWEALTH FINANCIAL CORPORATION

CONSOLIDATED SELECTED FINANCIAL DATA

(dollars in thousands, except share data)

	September 30, 2009			June 30, 2009			March 31, 2009			December 31, 2008			September 30, 2008
Assets
Cash and due from banks	$	79,694		$	84,346		$	93,259		$	88,277		$	93,327
Interest-bearing bank deposits		332			961			392			289			267
Securities available for sale, at market value		1,231,015			1,264,685			1,271,925			1,349,920			1,349,561
Securities held to maturity, at amortized cost, (Market value $42,466 at September 30, 2009 and $50,558 at December 31, 2008)		41,397			44,398			46,433			50,840			56,839
Other Investments		51,431			51,431			51,431			51,431			52,967
Loans:
Portfolio loans, net of unearned income		4,649,034			4,536,771			4,457,358			4,418,377			4,184,600
Allowance for credit losses		(90,466	)		(83,056	)		(41,549	)		(52,759	)		(45,482	)
Net loans		4,558,568			4,453,715			4,415,809			4,365,618			4,139,118
Premises and equipment, net		72,074			72,379			73,376			72,636			71,141
Other real estate owned		24,138			25,565			25,936			3,262			3,718
Goodwill		159,956			159,956			159,956			159,956			159,956
Amortizing intangibles, net		8,063			8,747			9,490			10,233			10,976
Other assets		284,771			282,814			274,567			273,418			265,920
Total assets	$	6,511,439		$	6,448,997		$	6,422,574		$	6,425,880		$	6,203,790
Liabilities
Deposits (all domestic):
Noninterest-bearing	$	599,842		$	592,219		$	573,573		$	566,845		$	564,443
Interest-bearing demand deposits		93,062			99,281			90,217			97,011			101,955
Savings deposits		2,133,203			2,045,970			1,850,809			1,773,843			1,703,804
Time deposits		1,670,930			1,748,420			1,803,829			1,842,644			1,890,928
Total interest-bearing		3,897,195			3,893,671			3,744,855			3,713,498			3,696,687
Total deposits		4,497,037			4,485,890			4,318,428			4,280,343			4,261,130
Short-term borrowings		1,043,447			998,259			1,111,220			1,139,737			875,424
Other liabilities		42,276			44,866			56,255			63,778			43,385
Subordinated debentures		105,750			105,750			105,750			105,750			105,750
Other long-term debt		179,784			180,922			183,421			183,493			386,288
Total long-term debt		285,534			286,672			289,171			289,243			492,038
Total liabilities		5,868,294			5,815,687			5,775,074			5,773,101			5,671,977
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; 86,600,431 shares issued and 85,056,516 shares outstanding at September 30, 2009; 86,600,431 shares issued and 85,050,744 shares outstanding at December 31, 2008		86,600			86,600			86,600			86,600			75,100
Additional paid-in capital		302,418			302,602			302,862			303,008			205,953
Retained earnings		278,695			287,092			305,712			309,947			315,404
Accumulated other comprehensive loss, net		(762	)		(18,618	)		(22,763	)		(21,269	)		(38,133	)
Treasury stock (1,543,915 and 1,549,687 shares at September 30, 2009 and December 31, 2008, respectively, at cost)		(17,706	)		(17,766	)		(17,811	)		(17,907	)		(18,411	)
Unearned ESOP shares		(6,100	)		(6,600	)		(7,100	)		(7,600	)		(8,100	)
Total shareholders’ equity		643,145			633,310			647,500			652,779			531,813
Total liabilities and shareholders’ equity	$	6,511,439		$	6,448,997		$	6,422,574		$	6,425,880		$	6,203,790
Book value per share	$	7.56		$	7.45		$	7.61		$	7.68		$	7.23
Market value per share	$	5.68		$	6.34		$	8.87		$	12.38		$	13.47

FIRST COMMONWEALTH FINANCIAL CORPORATION

CONSOLIDATED SELECTED FINANCIAL DATA

	Loans by Categories (dollars in thousands)
	September 30, 2009		June 30, 2009		March 31, 2009		December 31, 2008		September 30, 2008
Commercial, financial, agricultural and other	$	1,265,546	$	1,233,131	$	1,259,498	$	1,272,014	$	1,148,601
Real estate - construction		347,805		476,762		449,771		464,806		382,225
Real estate - residential		1,226,519		1,223,690		1,199,472		1,210,985		1,223,611
Real estate - commercial		1,259,063		1,075,659		1,047,331		974,772		938,044
Loans to individuals		550,101		527,529		501,286		495,800		492,119
Total loans and leases, net of unearned income	$	4,649,034	$	4,536,771	$	4,457,358	$	4,418,377	$	4,184,600

The amount reflected in “Real estate-construction” as of June 30, 2009 includes $50.6 million in respect of loans that were previously classified as “Commercial, financial, agricultural and other”, “Real estate-residential” and “Real estate-commercial”. Amounts for prior periods have been adjusted to reflect the effect of this reclassification.

FIRST COMMONWEALTH FINANCIAL CORPORATION

CONSOLIDATED SELECTED FINANCIAL DATA

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

(dollars in thousands)

	2009							2008
	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	$	461		$	1	1.04	%	$	355		$	2	1.94	%
Tax-free investment securities		228,271			2,540	6.79	%		279,792			3,176	6.95	%
Taxable investment securities		1,097,915			12,437	4.49	%		1,246,144			15,676	5.01	%
Federal funds sold		0			0	0.00	%		48			0	1.90	%
Loans, net of unearned income (b)(c)		4,600,016			57,085	5.07	%		4,149,186			62,285	6.11	%
Total interest-earning assets		5,926,663			72,063	5.03	%		5,675,525			81,139	5.91	%
Noninterest-earning assets:
Cash		78,497							80,393
Allowance for credit losses		(82,698	)						(44,621	)
Other assets		562,452							512,996
Total noninterest-earning assets		558,251							548,768
Total Assets	$	6,484,914						$	6,224,293
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Interest-bearing demand deposits (d)	$	603,830		$	388	0.25	%	$	623,686		$	1,225	0.78	%
Savings deposits (d)		1,601,898			4,421	1.10	%		1,165,568			4,348	1.48	%
Time deposits		1,707,787			12,205	2.84	%		1,938,709			17,496	3.59	%
Short-term borrowings		996,416			947	0.38	%		858,165			4,634	2.15	%
Long-term debt		286,427			3,119	4.32	%		495,170			5,509	4.43	%
Total interest-bearing liabilities		5,196,358			21,080	1.61	%		5,081,298			33,212	2.60	%
Noninterest-bearing liabilities and capital:
Noninterest-bearing demand deposits (d)		599,606							558,373
Other liabilities		40,149							36,527
Shareholders’ equity		648,801							548,095
Total noninterest-bearing funding sources		1,288,556							1,142,995
Total Liabilities and Shareholders’ Equity	$	6,484,914						$	6,224,293
Net Interest Income and Net Yield on Interest-Earning Assets				$	50,983	3.62	%				$	47,927	3.58	%

(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 September 30,

(dollars in thousands)

	2009							2008
	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	$	679		$	3	0.60	%	$	416		$	9	2.74	%
Tax-free investment securities		241,709			8,094	6.89	%		300,125			10,118	6.93	%
Taxable investment securities		1,120,002			39,474	4.71	%		1,300,267			48,072	4.94	%
Federal funds sold		0			0	0.00	%		125			2	2.49	%
Loans, net of unearned income (b)(c)		4,524,567			173,153	5.26	%		4,011,476			186,966	6.37	%
Total interest-earning assets		5,886,957			220,724	5.22	%		5,612,409			245,167	6.07	%
Noninterest-earning assets:
Cash		75,994							76,386
Allowance for credit losses		(59,817	)						(43,003	)
Other assets		548,766							499,632
Total noninterest-earning assets		564,943							533,015
Total Assets	$	6,451,900						$	6,145,424
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Interest-bearing demand deposits (d)	$	600,229		$	1,367	0.30	%	$	602,340		$	4,213	0.93	%
Savings deposits (d)		1,450,336			12,715	1.17	%		1,128,539			13,845	1.64	%
Time deposits		1,766,375			40,382	3.06	%		2,043,109			61,414	4.02	%
Short-term borrowings		1,065,530			3,427	0.43	%		709,586			12,590	2.37	%
Long-term debt		288,221			9,763	4.53	%		521,543			17,163	4.40	%
Total interest-bearing liabilities		5,170,691			67,654	1.75	%		5,005,117			109,225	2.91	%
Noninterest-bearing liabilities and capital:
Noninterest-bearing demand deposits (d)		582,952							536,837
Other liabilities		41,766							36,201
Shareholders’ equity		656,491							567,269
Total noninterest-bearing funding sources		1,281,209							1,140,307
Total Liabilities and Shareholders’ Equity	$	6,451,900						$	6,145,424
Net Interest Income and Net Yield on Interest-Earning Assets				$	153,070	3.69	%				$	135,942	3.47	%

(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)

	September 30, 2009			June 30, 2009			March 31, 2009			December 31, 2008			September 30, 2008
Loans on non-accrual basis	$	133,200		$	81,285		$	29,049		$	55,922		$	49,692
Troubled debt restructured loans		627			637			128			132			135
Total nonperforming loans	$	133,827		$	81,922		$	29,177		$	56,054		$	49,827
Non-accrual securities at market value	$	3,503		$	530		$	0		$	0		$	0
Loans past due in excess of 90 days and still accruing	$	14,369		$	14,978		$	17,532		$	16,189		$	13,719
Loans outstanding at end of period	$	4,649,034		$	4,536,771		$	4,457,358		$	4,418,377		$	4,184,600
Average loans outstanding	$	4,524,567		$	4,486,216		$	4,460,337		$	4,084,506		$	4,011,476
Allowance for credit losses	$	90,466		$	83,056		$	41,549		$	52,759		$	45,482
Nonperforming loans as a percentage of total loans		2.88	%		1.81	%		0.65	%		1.27	%		1.19	%
Provision for credit losses (Year To Date)	$	79,510		$	56,490		$	8,242		$	23,095		$	12,453
Net credit losses (Year To Date)	$	41,803		$	26,193		$	19,451		$	12,732		$	9,367
Net credit losses as a percentage of average loans outstanding (annualized)		1.24	%		1.18	%		1.77	%		0.31	%		0.31	%
Allowance for credit losses as a percentage of average loans outstanding		2.00	%		1.85	%		0.93	%		1.29	%		1.13	%
Allowance for credit losses as a percentage of nonperforming loans		67.60	%		101.38	%		142.40	%		94.12	%		91.28	%
Other real estate owned	$	24,138		$	25,565		$	25,936		$	3,262		$	3,718
Profitability Ratios (dollars in thousands)
	For the Quarter Ended															For the Nine Months Ended
	September 30, 2009			June 30, 2009			March 31, 2009			December 31, 2008			September 30, 2008			September 30, 2009			September 30, 2008
Return on average assets		-0.36	%		-1.16	%		0.11	%		0.56	%		0.65	%		-0.47	%		0.74	%
Return on average equity		-3.58	%		-11.34	%		1.03	%		5.79	%		7.38	%		-4.64	%		8.05	%
Net interest margin (a)		3.62	%		3.73	%		3.72	%		3.87	%		3.58	%		3.69	%		3.47	%
Efficiency ratio (b)		62.66	%		64.71	%		65.29	%		60.10	%		59.07	%		64.23	%		65.33	%
Fully tax equivalent adjustment	$	3,052		$	3,091		$	3,185		$	3,166		$	3,202		$	9,328		$	9,928

(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,” excluding “net impairment losses.”

FIRST COMMONWEALTH FINANCIAL CORPORATION

CONSOLIDATED SELECTED FINANCIAL DATA

Pooled Trust Preferred Security Detail

(dollars in thousands)

Deal	Class	Book Value		Fair Value		Unrealized Gain (Loss)			Moody’s/Fitch Ratings	Number of Banks	Deferrals and Defaults as a % of Current Collateral		Excess Subordination as a % of Current Performing Collateral
Pre TSL I	Senior	$	3,681	$	3,203	$	(478	)	A1/A	32	19.46	%	83.66	%
Pre TSL IV	Mezzanine		1,830		692		(1,138	)	Ca/B	6	27.07	%	19.33	%
Pre TSL V	Mezzanine		456		174		(282	)	Ba3/A	4	65.87	%	0.00	%
Pre TSL VI	Mezzanine		340		166		(174	)	Caa1/CCC	5	61.35	%	0.00	%
Pre TSL VII	Mezzanine		5,591		1,975		(3,616	)	Ca/CC	20	57.26	%	0.00	%
Pre TSL VIII	Mezzanine		2,025		423		(1,602	)	Ca/CC	36	42.84	%	0.00	%
Pre TSL IX	Mezzanine		2,423		955		(1,468	)	Ca/CC	49	26.33	%	0.00	%
Pre TSL X	Mezzanine		1,918		408		(1,510	)	Ca/CC	58	37.22	%	0.00	%
Pre TSL XII	Mezzanine		7,809		2,671		(5,138	)	Ca/CC	78	24.05	%	0.00	%
Pre TSL XIII	Mezzanine		14,598		5,229		(9,369	)	Ca/CC	65	17.79	%	0.00	%
Pre TSL XIV	Mezzanine		15,690		6,066		(9,624	)	Ca/CC	64	15.08	%	0.00	%
MMCap I	Senior		8,731		7,182		(1,549	)	A3/A	29	9.15	%	93.00	%
MMCap I	Mezzanine		1,058		523		(535	)	Ca/CCC	29	9.15	%	4.65	%
MM Comm IX	Mezzanine		9,132		3,962		(5,170	)	Caa3/CC	34	37.03	%	0.00	%
Total		$	75,282	$	33,629	$	(41,653	)

FIRST COMMONWEALTH FINANCIAL CORPORATION

CONSOLIDATED SELECTED FINANCIAL DATA

Commercial Portfolio Loans

Original Balance $1 Million and Greater

(dollars in thousands)

	Commercial, Financial Agricultural and Other		Real Estate Construction		Real Estate Commercial		Total		Loans Past Due 90 Days and Still Accruing		Nonaccrual
Pennsylvania	$	795,935	$	170,395	$	779,590	$	1,745,920	$	0	$	31,065
Ohio		59,277		11,893		20,656		91,826		0		3,004
Maryland		47,075		0		5,196		52,271		0		1,982
West Virginia		40,505		5,836		34,667		81,008		0		0
Virginia		27,274		0		0		27,274		0		0
New York		3,762		7,342		24,902		36,006		0		0
Florida		20,390		73,637		1,857		95,884		0		61,638
Arizona		0		0		13,883		13,883		0		0
Other		41,005		72,425		31,570		145,000		0		18,065
Total	$	1,035,223	$	341,528	$	912,321	$	2,289,072	$	0	$	115,754