v3.26.1
Fair Values of Assets and Liabilities (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value Inputs, Assets, Quantitative Information
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis
The tables below present the balances of assets and liabilities measured at fair value on a recurring basis:
June 30, 2026
Level 1Level 2Level 3Total
(dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities - Residential$— $2,283 $— $2,283 
Mortgage-Backed Securities - Commercial— 639,632 — 639,632 
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities - Residential— 400,914 — 400,914 
Other Government-Sponsored Enterprises— 999 — 999 
Obligations of States and Political Subdivisions— 6,949 — 6,949 
Corporate Securities— 41,424 — 41,424 
Total Securities Available for Sale— 1,092,201 — 1,092,201 
Loans Held for Sale— 42,682 — 42,682 
Other Assets(a)
— 16,447 — 16,447 
Total Assets$— $1,151,330 $— $1,151,330 
Other Liabilities(a)
$— $16,088 $— $16,088 
Total Liabilities$— $16,088 $— $16,088 
(a)Hedging and non-hedging interest rate derivatives
December 31, 2025
Level 1Level 2Level 3Total
(dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities - Residential$— $2,496 $— $2,496 
Mortgage-Backed Securities - Commercial— 661,689 — 661,689 
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities - Residential— 295,523 — 295,523 
Other Government-Sponsored Enterprises— 984 — 984 
Obligations of States and Political Subdivisions— 6,971 — 6,971 
Corporate Securities— 46,531 — 46,531 
Total Securities Available for Sale— 1,014,194 — 1,014,194 
Loans Held for Sale— 46,071 — 46,071 
Other Assets(a)
— 9,573 — 9,573 
Total Assets$— $1,069,838 $— $1,069,838 
Other Liabilities(a)
$— $10,657 $— $10,657 
Total Liabilities$— $10,657 $— $10,657 
(a)Hedging and non-hedging interest rate derivatives
 [1],[2]
Schedule of Assets Measured on Non-Recurring Basis
The tables below present the balances of assets measured at fair value on a nonrecurring basis at the dates shown below:
June 30, 2026
Level 1Level 2Level 3Total
(dollars in thousands)
Loans held for sale$— $2,082 $— $2,082 
Nonperforming loans— 42,730 28,596 71,326 
Other real estate owned— 2,291 — 2,291 
Total Assets$— $47,103 $28,596 $75,699 

December 31, 2025
Level 1Level 2Level 3Total
(dollars in thousands)
Loans held for sale$— $225,381 $— $225,381 
Nonperforming loans— 40,617 41,303 81,920 
Other real estate owned— 1,014 — 1,014 
Total Assets$— $267,012 $41,303 $308,315 
Losses Realized on Assets Measured on Non-Recurring Basis
The following (losses) gains were realized on the assets measured on a nonrecurring basis:
For the Three Months Ended June 30,For the Six Months Ended June 30,
2026202520262025
(dollars in thousands)
Loans held for sale$— $— $— $— 
Nonperforming loans(4,459)(5,284)(11,277)(12,734)
Other real estate owned— (32)(36)(32)
Total losses$(4,459)$(5,316)$(11,313)$(12,766)
Carrying Amounts and Fair Values of Financial Instruments
The following table presents carrying amounts and fair values of First Commonwealth’s financial instruments:
June 30, 2026
Fair Value Measurements Using:
Carrying
Amount		TotalLevel 1Level 2Level 3
(dollars in thousands)
Financial assets
Cash and due from banks$110,327 $110,327 $110,327 $— $— 
Interest-bearing deposits69,308 69,308 69,308 — — 
Securities available for sale1,092,201 1,092,201 — 1,092,201 — 
Securities held to maturity574,542 521,253 — 521,253 — 
Other investments34,372 34,372 — 29,190 5,182 
Loans held for sale44,764 44,941 — 44,941 — 
Loans and leases9,467,229 9,486,192 — 42,730 9,443,462 
Financial liabilities
Deposits10,260,061 10,252,398 — 10,252,398 — 
Short-term borrowings137,946 136,787 — 136,787 — 
Subordinated debt121,683 116,636 — — 116,636 
Long-term debt— — — — — 
Capital lease obligation3,401 3,401 — 3,401 — 
December 31, 2025
Fair Value Measurements Using:
Carrying
Amount		TotalLevel 1Level 2Level 3
(dollars in thousands)
Financial assets
Cash and due from banks$103,280 $103,280 $103,280 $— $— 
Interest-bearing deposits77,082 77,082 77,082 — — 
Securities available for sale1,014,194 1,014,194 — 1,014,194 — 
Securities held to maturity519,422 470,665 — 470,665 — 
Other investments38,295 38,295 — 32,563 5,732 
Loans held for sale271,452 271,452 — 271,452 — 
Loans and leases9,508,039 9,657,464 — 40,617 9,616,847 
Financial liabilities
Deposits10,250,969 10,248,485 — 10,248,485 — 
Short-term borrowings147,966 147,926 — 147,926 — 
Subordinated debt128,466 121,747 — — 121,747 
Long-term debt129,555 130,108 — 130,108 — 
Capital lease obligation3,721 3,721 — 3,721 — 
[1] Hedging and non-hedging interest rate derivatives
[2] Hedging and non-hedging interest rate derivatives