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First Commonwealth reports Q1 core EPS 37c, consensus 40c

Reports Q1 revenue $133.69M, consensus $134.32M. Reports Q1 tangible book value per share $11.34. Reports Q1 CET1 capital ratio 12.5%. Reports Q1 net charge-offs .35%. “Despite some credit headwinds, we were pleased to see our capital and liquidity strengthen during the quarter, supported by a strong net interest margin, and stable seasonally-adjusted fee income,” said T. Michael Price, president and CEO. “Organic loan growth was muted, reflecting elevated payoffs, but overall origination and credit trends remain well-managed. Looking ahead, we are confident in our positioning across our core businesses, and expect continued momentum as we progress through the year.”

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