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): June 19, 2012
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) |
Registrants 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 8.01 | OTHER EVENTS |
On June 19, 2012, First Commonwealth Financial Corporation (the Company) issued a press release announcing that its Board of Directors has approved a share repurchase program for up to $50 million in shares of the Companys common stock. A copy of this press release is filed herewith as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 | FINANCIAL STATEMENTS AND EXHIBITS |
Exhibit |
||
99.1 |
Press release dated June 19, 2012 announcing share repurchase program. |
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: June 19, 2012
FIRST COMMONWEALTH FINANCIAL CORPORATION | ||
By: | /s/ Robert E. Rout | |
Name: | Robert E. Rout | |
Title: | Executive Vice President and Chief Financial Officer |
Exhibit 99.1
FOR IMMEDIATE RELEASE |
First Commonwealth Announces Share Repurchase Program
Indiana, PA., June 19, 2012 First Commonwealth Financial Corporation (NYSE: FCF) today announced that its Board of Directors has authorized a share repurchase program of up to $50 million of the companys common stock. Based on yesterdays closing price of $6.22 per share as reported on the New York Stock Exchange, the authorized program represents approximately 8.0 million shares, or 8%, of the companys outstanding shares as of March 31, 2012.
Under this program, management is authorized to repurchase shares through Rule 10b5-1 plans, open market purchases, privately negotiated transactions, block purchases or otherwise in accordance with applicable federal securities laws, including Rule 10b-18 of the Securities Exchange Act of 1934. Depending on market conditions and other factors, repurchases may be made at any time or from time to time, without prior notice. The company may suspend or discontinue the program at any time.
In connection with the repurchase program, the company has entered into a written trading plan under Rule 10b5-1 of the Securities Exchange Act of 1934 by which the company authorized the repurchase of up to $50 million of common stock at certain designated prices. However, the trading plan does not require that any shares be repurchased and there can be no assurance that any shares will be repurchased. The share repurchase program will continue to be in effect following the expiration of the trading plan, which expires on the earlier of August 31, 2012 or the date on which purchases are completed.
About First Commonwealth Financial Corporation
First Commonwealth Financial Corporation is a $6.0 billion financial 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 press release may contain certain forward-looking statements which are based on managements current expectations regarding economic, legislative and regulatory issues that may impact First Commonwealth Financial Corporations earnings in future periods. Factors that could cause future results to vary materially from current management expectations include, but are not limited to, general economic conditions; changes in interest rates; real estate values and competition; changes in accounting principles, policies or guidelines; changes in legislation or regulation; and other economic, competitive, governmental and regulatory issues affecting First Commonwealths operations, pricing, products and services.
Contact:
Media:
Susie Barbour
Media Relations Supervisor
724-463-5618
Investor Relations:
Donald A. Lawry
Vice President
724-349-7220
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