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First Commonwealth Completes Acquisition of CenterGroup Financial, Inc.

1. First Commonwealth completes acquisition of CenterGroup Financial. 2. Merger enhances presence in Cincinnati market for First Commonwealth. 3. Integration offers expanded services for CenterBank customers. 4. Forward-looking statements highlight potential integration risks. 5. Management's focus may be diverted during the merger process.

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Why Bullish?

The successful acquisition is likely to expand revenue streams and market presence.

How important is it?

The article discusses a strategic merger expected to impact future revenue and market competitiveness.

Why Long Term?

The benefits of the merger will accrue over time as integration progresses.

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CFGFHNUSB
INDIANA, Pa., May 01, 2025 (GLOBE NEWSWIRE) -- First Commonwealth Financial Corporation (NYSE: FCF) (“First Commonwealth”) today announced that it has completed its previously announced acquisition of CenterGroup Financial, Inc. (“CenterGroup”), the parent company of Milford, Ohio-based CenterBank. “We are pleased to announce the completion of the merger with CenterBank and are excited to expand our presence in the Cincinnati market,” said President and Chief Executive Officer T. Michael Price. “CenterBank has built a strong reputation as a business-focused community bank, and we look forward to welcoming our new CenterBank teammates and clients as we build upon their success.” Following a full systems conversion in June 2025, CenterBank customers will be able to access First Commonwealth’s network of 55,000 surcharge-free ATMs worldwide, as well as 127 retail offices located across Pennsylvania and Ohio. Customers will also have access to additional products and services, including mortgage and personal loans, wealth management and insurance, and enhanced online banking, BillPay, mobile banking and mobile payment solutions. Commercial customers will have access to a wide array of financing solutions, a full line of cash management services and a set of payment processing options to help manage credit and debit card transaction processing. For a complete listing of First Commonwealth’s products and services as well as office and ATM locations, please visit www.fcbanking.com or call the Engagement Center at (800) 711-BANK (2265). TTY/TDD services are available for the speech and hearing impaired at (877) 816-1801. About First Commonwealth Financial Corporation First Commonwealth, headquartered in Indiana, Pennsylvania, is a financial services company with 125 banking offices in 30 counties throughout Pennsylvania and Ohio, as well as business banking operations in Pittsburgh, Pennsylvania, and Canton, Cleveland, Columbus and Cincinnati, Ohio. The Company also operates mortgage offices in Wexford, Pennsylvania, as well as Hudson, and Lewis Center, Ohio. First Commonwealth provides a full range of commercial banking, consumer banking, mortgage, equipment finance, wealth management and insurance products and services through its subsidiaries First Commonwealth Bank and First Commonwealth Insurance Agency. Forward-Looking Statements Certain statements contained in this release which are not statements of historical fact constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, certain plans, expectations, goals, projections and benefits relating to the merger transaction between First Commonwealth and CenterGroup Financial, Inc. These 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." Such statements are based on assumptions and involve risks and uncertainties, many of which are beyond First Commonwealth’s control. In addition to factors previously disclosed in reports filed by First Commonwealth with the Securities and Exchange Commission, risks and uncertainties relating to the merger transaction and the integration of CenterBank into First Commonwealth after the merger include, but are not limited to: the possibility that any of the anticipated benefits of the proposed merger will not be realized or will not be realized within the expected time period; the risk that integration of CenterBank’s operations with those of First Commonwealth will be materially delayed or will be more costly or difficult than expected; diversion of management's attention from ongoing business operations and opportunities; the challenges of integrating and retaining key employees; the effect of the announcement of the merger on First Commonwealth’s, CenterBank’s or the combined company's respective customer relationships and operating results; and general competitive, economic, political and market conditions and fluctuations. All forward-looking statements included in this filing are made as of the date hereof and are based on information available at the time of the filing. Except as required by law, First Commonwealth assumes no obligation to update any forward-looking statement. Media Relations:Ron WahlAssistant Vice President / Communications and Media SpecialistPhone: 724-463-6806E-mail: RWahl@fcbanking.com Investor Relations:Ryan M. ThomasVice President / Finance and Investor RelationsPhone: 724-463-1690E-mail: RThomas1@fcbanking.com

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