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First Commonwealth Finalizes Conversion of Cincinnati's Former CenterBank

1. First Commonwealth Bank rebranded former CenterBank, enhancing Cincinnati operations. 2. Acquisition included $348.4 million in assets, boosting commercial customer base. 3. Integration allows for consolidation of branches, improving operational efficiency. 4. Cincinnati market's business-focused customer base aligns with First Commonwealth's growth strategy.

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Why Bullish?

The acquisition of CenterBank expands FCF's operational footprint, which historically boosts stock performance post-acquisition, as seen in previous industry consolidations.

How important is it?

The acquisition significantly impacts FCF's market position, suggesting a persistent positive influence on cash flows and profitability.

Why Long Term?

The strategic growth and consolidation will benefit FCF over time as synergies materialize and customer integration strengthens market presence.

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INDIANA, Pa., June 09, 2025 (GLOBE NEWSWIRE) -- First Commonwealth Bank, a subsidiary of First Commonwealth Financial Corporation (NYSE: FCF), completed its systems conversion and rebranding of the former CenterBank in Cincinnati, Ohio, over the weekend of June 6-8.  Legal closing of the CenterBank acquisition was completed on April 30, 2025 and included $348.4 million in total assets, three branch locations, a loan production office, and a mortgage center. This transaction significantly increases First Commonwealth’s Cincinnati franchise and supports its commercially focused growth strategy by adding a customer base that is 65 percent business. As part of the integration, two separate Milford branch offices of the banks will consolidate into one office at 744 State Route 28, Milford, Ohio. Twenty-five former CenterBank employees have also transitioned into roles at First Commonwealth. “I’m excited to welcome our new employees and our new personal and business banking customers to First Commonwealth Bank,” said T. Michael Price, President and CEO of First Commonwealth Financial Corporation.  “We have known the CenterBank team for a long time and believe its customer-focused, commercially oriented business model strongly aligns with our culture and enhances our existing Cincinnati growth plans in this highly attractive market.” Amy McFarland, Regional President for Cincinnati, will continue as First Commonwealth’s lead executive in the market. Customers with questions are encouraged to call First Commonwealth’s Engagement Center at (800) 711-BANK (2265), visit https://www.fcbanking.com/welcome/, email welcome@fcbanking.com, or visit their local community office. About First Commonwealth Financial Corporation First Commonwealth Financial Corporation (NYSE: FCF), headquartered in Indiana, Pennsylvania, is a community bank committed to its mission of improving the financial lives of its neighbors and their businesses. First Commonwealth operates 127 branches throughout Pennsylvania and Ohio and also has business banking centers in Pittsburgh and Harrisburg, Pennsylvania; and Cleveland, Canton, Cincinnati and Columbus, Ohio. First Commonwealth, through subsidiaries First Commonwealth Bank and First Commonwealth Insurance Agency, provides a full range of commercial and retail banking services, including mortgage, wealth management and insurance solutions, along with equipment financing and SBA and indirect lending. For more information about First Commonwealth or to open an account today, please visit www.fcbanking.com. CONTACT: Ron Wahl,Communications/Media Relations Specialist(724) 463-6806RWahl@fcbanking.com

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