NYSE: FCF

2023 Stephens Summer Bank Bash - Discussion Materials

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1Q 2023 Investor Relations Discussion Materials

FRANCHISE OVERVIEW

  • Diversified community bank with 126 retail branches in Pennsylvania and Ohio(1)
  • Active in five major metro markets:
    • Pittsburgh, PA
    • Harrisburg, PA
    • Columbus, OH
    • Cincinnati, OH
    • Cleveland, OH

FCF Branches (119)

FCF Mortgage LPO (3)

FCF Commercial LPO (3)

Centric Financial Corp. (7)

CFCX Commercial LPO (1)

  • Total Assets: $11.1 billion
  • Total Gross Loans: $8.7 billion
  • Total Deposits: $9.2 billion
  • Market Cap: $1.4 billion

(as of June 16, 2023)

As of March 31, 2023, unless noted

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(1) Pro forma footprint include acquisition of Centric Financial Corporation completed on January 31, 2023

1Q 2023 Investor Relations Discussion Materials

INVESTMENT THESIS

  • Well balanced franchise built to enable profitable growth
    • Historically low cost of funds, driven by a high mix of core deposits
    • Cohesive leadership team with an ability to execute
    • Diversified loan portfolio, balanced between commercial vs. consumer and fixed vs. variable
    • Diversified geography across Pennsylvania and Ohio
    • Diversified revenue streams and product mix, with 20% of revenue from fee income sources (including trust, brokerage, insurance, mortgage and SBA lending)
    • Well-developedsuite of digital products have enhanced customer satisfaction and enabled new channels for customers to do business with us
    • Strong capital ratios (10.9% CET-1(1)) and strong organic capital generation
  • Protecting and enhancing shareholder value
    • Strong credit culture, increased granularity and reduced concentration risk and out-of-market exposures since the last credit cycle
    • Thoughtful balance of share repurchases and strategic M&A to optimize TBV
  • Proven ability to execute and deliver positive operating leverage
    • Completed six acquisitions since 2015; 13.6% Core EPS CAGR from 2015-2022
    • Completed 20% reduction of branch facilities in December 2020
    • Redeploying cost savings into digital transformation (e.g., Treasury Management, Banno Digital Platform, Zelle) and revenue-generating growth
    • Strong history of cost containment
  • Maintaining a risk and governance culture aligned with expectations of long-term stakeholders

(1) Reflects bank level, regulatory data as of March 31, 2023

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1Q 2023 Investor Relations Discussion Materials

STRATEGIC FOCUS

Proven ability to execute on growth strategies and control expenses to produce positive operating leverage

Growth

Drivers

  • Accentuate the Regional Business Model to drive deposit and loan growth
  • Grow and expand C&I relationships
  • Drive higher levels of digital channel acquisition, customer satisfaction, and ease of use

Expanding

Capabilities

  • Execute the Centric Bank acquisition
  • Enhance digital capabilities driven by a nimble technology and data platform
  • Grow Equipment Finance and SBA businesses

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Disclaimer

First Commonwealth Financial Corporation published this content on 22 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 June 2023 21:07:48 UTC.