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Sep 30, 2024
First Commonwealth Q3 2024 Earnings Report
First Commonwealth's financial performance decreased compared to the previous quarter and year-ago quarter.
Key Takeaways
First Commonwealth Financial Corporation reported a net income of $32.1 million, or $0.31 per share, for Q3 2024. The results reflect a decrease compared to the prior quarter and the third quarter of 2023. The company's core pre-tax pre-provision net revenue totaled $50.9 million, also down from the previous quarter and year-ago quarter.
Net income was $32.1 million, with diluted earnings per share at $0.31.
Core pre-tax pre-provision net revenue totaled $50.9 million.
Net interest income (FTE) was $96.9 million, increased from the previous quarter.
Average deposits increased by $76.4 million compared to the prior quarter.
First Commonwealth
First Commonwealth
Forward Guidance
First Commonwealth's third quarter results highlight their continued strength, with a solid 1.73% pre-tax pre-provision ROAA and a stable net interest margin coupled with meaningful deposit growth.