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NYSE: FCF
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2 3Q 2026 Earnings Release Webcast Presentation October 28, 2026
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3 Certain statements contained in this release that are not historical facts may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, notwithstanding that such statements are not specifically identified as such. In addition, certain statements may be contained in our future filings with the Securities and Exchange Commission, in press releases, and in oral and written statements made by us or with our approval that are not statements of historical fact and constitute “forward-looking statements” as well. These statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of words such as “may,” “will,” “should,” “could,” “would,” “plan,” “believe,” “expect,” “anticipate,” “intend,” “estimate” or words of similar meaning. These forward-looking statements are subject to significant risks, assumptions and uncertainties, and could be affected by many factors, including, but not limited to: volatility and disruption in national and international financial markets; the effects of and changes in trade and monetary and fiscal policies and laws, including the interest rate policies of the Federal Reserve Board; inflation, interest rate, commodity price, securities market and monetary fluctuations; the effect of changes in laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) with which First Commonwealth or its customers must comply; the soundness of other financial institutions; (6) political instability; impairment of First Commonwealth’s goodwill or other intangible assets; acts of God or of war or terrorism; the timely development and acceptance of new products and services and perceived overall value of these products and services by users; changes in consumer spending, borrowings and savings habits; changes in the financial performance and/or condition of First Commonwealth’s borrowers; technological changes; acquisitions and integration of acquired businesses; First Commonwealth’s ability to attract and retain qualified employees; changes in the competitive environment in First Commonwealth’s markets and among banking organizations and other financial service providers; the ability to increase market share and control expenses; the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board and other accounting standard setters; the reliability of First Commonwealth’s vendors, internal control systems or information systems; the costs and effects of legal and regulatory developments, the resolution of legal proceedings or regulatory or other governmental inquiries, the results of regulatory examinations or reviews and the ability to obtain required regulatory approvals; and other risks and uncertainties described in this report and in the other reports that we file with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K. Forward-looking statements speak only as of the date on which they are made. First Commonwealth undertakes no obligation to update any forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made. FORWARD-LOOKING STATEMENTS
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4 THIRD QUARTER 2026 HIGHLIGHTS Highlights Diversified balance sheet and revenue streams continue to support the fundamental earnings of the company $65.0 million Core Pre-tax pre-provision income(1) 2.13% Core PTPP ROAA(1) 1.40% Reserve coverage ratio $5.5 billion Available liquidity $539.4 million Excess capital(2) 9.2% TCE ratio(1) Core EPS of $0.45 was an increase of $0.01 from the previous quarter and an increase of $0.06 from the prior year quarter The net interest margin was 4.11%, a 10 basis point increase from the previous quarter and 19 basis point increase from the prior year quarter Total loans increased $63.4 million, or 2.6% annualized from the previous quarter Total deposits grew by $13.8 million, or 0.5% annualized from the previous quarter Provision expense was $14.2 million Fee income was unchanged from the previous quarter Operating expense increased by $4.0 million from the previous quarter Income tax provision included $4.7 million in Federal income tax credits in the third quarter which is equivalent to $6.0 million in pre-tax earnings The core ROATCE increased 24 basis points to 15.90% from the previous quarter A total of 4,156,764 shares were repurchased with an aggregate value of $88.0 million during the quarter The Board of Directors approved an additional $25 million share repurchase program on October 27, 2026 (1) Non-GAAP measures (2) Represents excess capital above the holding company-level CET-1 ratio regulatory “well capitalized” requirement of 6.5% 3Q 2026 Earnings Webcast Presentation
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3Q 2026 Earnings Release Webcast Presentation 5 NET INTEREST INCOME AND NET INTEREST MARGIN $ in millions (1) Taxable equivalent Net interest income (FTE) of $116.7 million increased $3.9 million from LQ and increased $5.2 million YoY Net interest margin of 4.11% increased 10bps from LQ but increased 19bps YoY − Cost of deposits was 1.67% in the current quarter compared to 1.74% LQ − Cost of funds was 1.74% in the current quarter compared to 1.79% LQ Approximately $4.8 billion, or 50%, of the $9.6 billion loan portfolio is variable − Average duration of the loan portfolio is 2.5 years − There were $25 million of floating rate macro swaps that matured in 3Q26 Net Interest Income(1) Yield/Cost Trends(1)
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3Q 2026 Earnings Release Webcast Presentation 6 LOANS $ in millions (1) Includes loans held for sale (2) Taxable equivalent yield (3) Includes $828, $785 and $634 million Equipment Finance Loans in 3Q26, 2Q26 and 3Q25, respectively Average Loans(1) Period-end Loans(1) Average Average loans increased $104.8 million from LQ but decreased $88.3 million YoY due to the sale of $210.4 million of held for sale commercial loans in 1Q26 The yield on loans increased 2bps from LQ and increased 1bps YoY Period-end Total loans(1) increased $63.4 million, or 2.6% annualized, from the previous quarter − Equipment finance loans increased $42.8 million from LQ − Auto and RV loans increased $25.3 million from LQ − HELOC loans increased $14.8 million from LQ Partially offset by… − CRE loans decreased $40.1 million from LQ (2) (3)
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3Q 2026 Earnings Release Webcast Presentation 7 $ in millions Average Deposits Period-end Deposits Average Average deposits decreased $87.1 million or 3.3% annualized from LQ Average deposits increased $104.2 million, or 1.0% from prior year quarter Average noninterest-bearing deposits increased $72.4 million from LQ Average time deposits decreased $163.8 million from LQ The total cost of deposits decreased 7bps from LQ Period-end Total period-end deposits increased $13.8 million, or 0.5% annualized from LQ Noninterest-bearing deposits increased $55.9 million from LQ Saving deposits increased $42.8 million from LQ Interest-bearing demand deposits increased $42.5 million from LQ Noninterest-bearing deposits currently comprise 24.0% of total deposits DEPOSITS
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3Q 2026 Earnings Release Webcast Presentation 8 3Q26 2Q26 3Q25 2Q26 3Q25 Interchange $4.0 $4.0 $4.0 $0.0 $0.0 Service Charges 6.0 5.7 5.9 0.3 0.1 Trust 3.9 3.6 3.5 0.3 0.4 Retail Brokerage 1.7 1.7 2.3 0.0 (0.6) Insurance 1.2 1.4 1.2 (0.2) 0.0 BOLI 2.0 2.1 1.7 (0.1) 0.3 Gain on sale of mortgage loans 2.5 2.3 2.1 0.2 0.4 Gain on sale of SBA loans 1.7 1.6 1.3 0.1 0.4 Gain on sale of Assets 0.6 1.2 (0.2) (0.6) 0.8 SWAP fees 0.7 0.4 0.2 0.3 0.5 Other fees 2.3 2.6 2.5 (0.3) (0.2) Total Fee Income $26.6 $26.6 $24.5 ($0.0) $2.1 Gain of sale of securities 0.0 0.3 0.4 (0.3) (0.4) Derivative mark-to-market 0.1 0.1 0.0 0.0 0.1 Total Noninterest Income $26.7 $27.0 $24.9 ($0.3) $1.8 Change from Fee income (excl. securities) remained flat to LQ and increased $2.2 million YoY Gain on sale of Assets decreased $0.6 million from LQ due to a $0.8 million gain on the early redemption of sub debt in 2Q26 Swap fees increased $0.3 million from LQ and $0.5 million YoY Gain on sale of mortgage loans increased $0.2 million from LQ and $0.4 million YoY ꟷ 3Q26 mortgage originations of $133.4 million increased by $25.6 million from LQ Fee income represented 18.6% of total operating revenue (1) Please refer to the appendix for disclosures regarding non-GAAP measures $ in millions NONINTEREST INCOME
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3Q 2026 Earnings Release Webcast Presentation 9 3Q26 2Q26 3Q25 2Q26 3Q25 Salaries and benefits $44.4 $42.7 $40.7 $1.7 $3.7 Occupancy 5.3 5.0 5.1 0.3 0.2 Furniture and equipment 4.9 4.2 4.4 0.7 0.5 PA shares tax 1.6 1.5 1.3 0.1 0.3 Data processing 4.4 4.2 4.3 0.2 0.1 Professional fees 1.6 1.7 1.8 (0.1) (0.2) FDIC insurance 1.8 1.1 1.7 0.7 0.1 Operational losses 0.5 0.8 0.6 (0.3) (0.1) Loss on sale or write-down of assets 0.9 0.1 0.1 0.8 0.8 Other operating expenses 11.4 11.5 11.1 (0.1) 0.3 Total operating expense $76.8 $72.8 $71.1 $4.0 $5.7 Intangible amortization 1.3 1.3 1.5 0.0 (0.2) Merger Expenses 0.1 0.1 0.2 0.0 (0.1) Total noninterest expense $78.2 $74.2 $72.8 $4.0 $5.4 Change from NONINTEREST EXPENSE (1) Please refer to the appendix for disclosures regarding non-GAAP measures Total operating expense increased $4.0 million from LQ and increased $5.7 million YoY Salaries and benefits increase $1.7 million from LQ and $3.7 million YoY Loss on sale of assets increased $0.8 million from LQ due to a $0.6 million loss on termination of sale leaseback FDIC insurance increased $0.7 million from LQ due to a higher assessment rate FTEs of 1,575 decreased 14 from LQ and increased 27 YoY (1)
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3Q 2026 Earnings Release Webcast Presentation 10 CREDIT QUALITY (1) Net charge-offs as a percentage of period-to-date average loans, annualized Provision Expense and Net Charge-offs Nonperforming Assets Provision expense of $14.2 million increased $5.3 million from LQ The allowance for credit losses as a percentage of end-of- period loans was 1.40% as compared to 1.35% in LQ Nonperforming loans of $95.2 million increased $13.6 million from LQ ꟷ Approximately 19% or $18.4 million of nonperforming loans have government guarantees Net Charge-offs of $4.6 million decreased $6.9 million from LQ(1) Criticized and Classified Loans
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3Q 2026 Earnings Release Webcast Presentation 11 (1) Net payout ratio represents common stock dividends and share repurchases less share issuances and stock compensation-related items, excluding acquisition-related items, divided by net income attributable to common stock Payout Ratios • Strong capital levels allow us to continue to return capital to shareholders • There were 4,154,764 shares repurchased in 3Q 2026 • On October 27, 2026, the Board of Directors authorized an additional $25 million share repurchase program (1) CAPITAL RETURN
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3Q 2026 Earnings Release Webcast Presentation 12 ADDITIONAL AREAS OF FOCUS
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3Q 2026 Earnings Release Webcast Presentation 13 SOURCES OF LIQUIDITY (1) Acquired from Centric (2) Uninsured deposits include intercompany deposits of $146.1 million based on the FDIC’s revised instructions for reporting uni nsured deposits As of September 30, 2026 Total Available Amount Used Net Availability Internal Sources: Unencumbered Securities $529.6 $0 $529.6 Other (Excess Pledged) $121.3 $0 $121.3 External Sources: FHLB $2, 654.6 $156.5 $2,498.1 Federal Reserve $991.7 $0 $991.7 Brokered Deposits $1,216.4 $19.6 (1) $1,196.8 Other (Repo Lines) $160.0 $0 $160.0 Total Liquidity $5,673.6 $176.1 $5,497.5 (2) $ in millions
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3Q 2026 Earnings Release Webcast Presentation 14 INVESTMENT SECURITIES PORTFOLIO (1) EOP balances, includes AFS, the unrealized AFS loss and HTM securities as of September 30, 2026 $ in millions Conservative investment portfolio intended to act as a pool of liquidity There were $8.0 million of investment securities purchased during the quarter with a weighted average life of 10.01 years One callable security was redeemed in the second quarter, resulting in a $311 thousand gain Low credit risk; 94% of portfolio consists of Agency, CMO and MBS Average securities to total interest-earning assets of 15% AOCI/Tangible common equity was 9.0% at June 30, 2026, an increase from 6.0% at June 30, 2026 $1.7B 35% HTM/ 65% AFS Securities Portfolio Composition(1) Average Securities
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3Q 2026 Earnings Release Webcast Presentation 15 3Q 26 % of total loans Owner-occupied CRE 772.1$ 8.1% Multifamily 671.3 7.0% Retail 583.4 6.1% Office 314.5 3.3% Office - Medical 47.0 0.5% Hospitality 180.3 1.9% Industrial Distr./Warehouse 248.4 2.6% Healthcare Facilities 30.9 0.3% Other 195.7 2.0% Total 3,043.6$ 31.8% CRE PORTFOLIO EOP balances as of June 30, 2026 $ in millions Granular portfolios with well-reasoned hold levels Stable geographic footprint in familiar markets: - Pittsburgh - Columbus - Cincinnati - Cleveland - Eastern PA $9.6B Sep 30, 2026 Commercial Real Estate PortfolioTotal Loans Strong credit metrics Well reserved Loans >$3 million are formally reviewed by committee annually Annual in-depth Industry Studies analyze key credit metrics for each CRE segment
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3Q 2026 Earnings Release Webcast Presentation 16 CRE PORTFOLIO: OFFICE Risk profile reflects well-diversified, granular portfolio and conservative credit culture (1) Balances as of September 30, 2026; CRE Office portfolio excludes owner-occupied, office properties under construction and commitments <$1 million (2) Loan-to-value as of the most recent appraisal or at origination $ in millions Office credits >$1 million (90% of Office portfolio balances) are formally reviewed annually Average Office loan size is $1.8 million Average loan size >$1 million is $5.7 million - 11 loans >$10 million Approximately $61 million are located in central business districts (~16% of total office portfolio) Approximately 58% are recourse Stable credit metrics and stable markets Geographic Breakdown(1) $377.3M Sep 30, 2026 Office Maturity Schedule(1) Commitment Balance Commit Vacancy Rent/SF DSCR WA LTV $ $ $ % $ x % Class A 192.1$ 192.1$ 9.6$ 9% 20.96$ 1.50 60% Non-Class A 78.4 78.4 4.1 15% 16.23 1.78 38% Medical 41.4 41.4 3.8 13% 24.12 1.33 33% Total 311.9$ 311.9$ 5.8$ 13% 20.44$ 1.54 44% Average:
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3Q 2026 Earnings Release Webcast Presentation 17 APPENDIX
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3Q 2026 Earnings Release Webcast Presentation 18 Operating Revenue 3Q26 2Q26 1Q26 4Q25 3Q25 Net Interest Income $116.3 $112.4 $109.0 $113.2 $111.1 Tax equivalent adjustment 0.4 0.4 0.3 0.4 0.4 Net Interest Income (FTE) 116.7 112.8 109.3 113.6 111.5 Noninterest Income (Reported) 26.7 27.0 24.6 24.7 24.9 Less: Realized gains / (losses) on securities 0.0 0.3 0.2 0.4 0.4 Less: Derivative mark-to-market 0.1 0.1 0.0 0.0 0.0 Total Noninterest Income (Operating) $26.6 $26.6 $24.4 $24.3 $24.5 Total Operating Revenue $143.3 $139.4 $133.7 $137.9 $136.0 Average Assets 12,183 12,191 12,225 12,230 12,210 Operating Revenue / Average Assets (%) 4.70% 4.57% 4.37% 4.51% 4.46% Operating Expense 3Q26 2Q26 1Q26 4Q25 3Q25 Noninterest Expense $78.2 $74.2 $75.6 $74.5 $72.8 Less: Intangible amortization 1.3 1.3 1.4 1.5 1.5 Less: Merger and acquisition related 0.1 0.1 0.1 0.2 0.2 Total Operating Expense $76.8 $72.8 $74.1 $72.8 $71.1 Average Assets 12,183 12,191 12,225 12,230 12,210 Operating Expense / Average Assets (%) 2.52% 2.39% 2.43% 2.38% 2.33% Core Efficiency Ratio(1) 53.6% 52.2% 55.4% 52.8% 52.3% Core Pre-tax Pre-Provision Net Income (Reported) $65.0 $65.0 $57.9 $63.2 $62.9 Average Diluted Shares Outstanding 100.1 101.6 102.4 103.6 104.8 Core Pre-tax Pre-Provision Net Income per share $0.65 $0.64 $0.57 $0.61 $0.60 NON-GAAP MEASURES $ in millions (1) Core Efficiency Ratio is calculated as Operating Expense as a percentage of Operating Revenue Note: Management believes that it is standard practice in the banking industry to present these non-GAAP measures. These measures provide useful information to management and investors by allowing them to make peer comparisons.
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3Q 2026 Earnings Release Webcast Presentation 19 Core Earnings per Share 3Q26 2Q26 1Q26 4Q25 3Q25 Net Income (GAAP) $44.9 $44.6 $37.5 $44.9 $41.3 (after tax) Less: Realized gains/ (losses) on securities (after tax) 0.0 (0.3) (0.1) (0.3) (0.2) Less: Merger and acquisition related (after tax) 0.1 0.1 0.1 0.1 0.1 Less: Writedown on Sale Leaseback (after tax) 0.4 0.0 0.0 0.0 0.0 Core Net Income (Non-GAAP) $45.4 $44.4 $37.5 $44.7 $41.2 Average Diluted Shares Outstanding 100.1 101.6 102.4 103.6 104.8 Core Earnings per Share (Non-GAAP) $0.45 $0.44 $0.37 $0.43 $0.39 Core Return on Average Assets (%) 3Q26 2Q26 1Q26 4Q25 3Q25 Net Income (GAAP) $44.9 $44.6 $37.5 $44.9 $41.3 Less: Realized gains/ (losses) on securities (after tax) 0.0 (0.3) (0.1) (0.3) (0.2) Less: Merger and acquisition related (after tax) 0.1 0.1 0.1 0.1 0.1 Core Net Income (Non-GAAP) $45.4 $44.4 $37.5 $44.7 $41.2 Average Assets 12,183 12,191 12,225 12,230 12,210 Core Return on Average Assets (Non-GAAP) 1.48% 1.46% 1.24% 1.45% 1.34% Core Pre-tax Pre-Provision Net Income $65.0 $65.0 $57.9 $63.2 $62.9 Core Pre-tax Pre-Provision Income / Average Assets (%) 2.13% 2.14% 1.92% 2.05% 2.05% NON-GAAP MEASURES $ in millions, except per share data Note: Management believes that it is standard practice in the banking industry to present these non-GAAP measures. These measures provide useful information to management and investors by allowing them to make peer comparisons.
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3Q 2026 Earnings Release Webcast Presentation 20 Tangible Common Equity / Tangible Assets (Tangible Common Equity Ratio) 3Q26 2Q26 1Q26 4Q25 3Q25 Total Equity $1,484 $1,569 $1,552 $1,554 $1,542 Less: Intangible assets 399 398 399 400 401 Less: Preferred stock 0 0 0 0 0 Tangible Common Equity $1,085 $1,171 $1,153 $1,154 $1,141 Total Assets $12,197 $12,208 $12,263 $12,343 $12,310 Less: Intangible assets 399 398 399 400 401 Tangible Assets $11,798 $11,810 $11,863 $11,943 $11,910 Tangible Common Equity / Tangible Assets 9.2% 9.9% 9.7% 9.7% 9.6% Tangible Common Equity $1,085 $1,171 $1,153 $1,154 $1,141 Less: Accumulated Other Comprehensive Income (AOCI) (99) (71) (68) (65) (69) Tangible Common Equity (excl. AOCI) $1,184 $1,242 $1,221 $1,219 $1,210 Tangible Common Equity / Tangible Assets (excl. AOCI) 10.0% 10.5% 10.3% 10.2% 10.2% Return on Average Tangible Common Equity (%) 3Q26 2Q26 1Q26 4Q25 3Q25 Average Equity $1,559 $1,563 $1,562 $1,550 $1,531 Less: Average intangible assets 398 399 400 401 402 Average Tangible Common Equity $1,160 $1,165 $1,163 $1,149 $1,129 Net Income (GAAP) $44.9 $44.6 $37.5 $44.9 $41.3 Less: Intangible amortization (after tax) 1.1 1.0 1.1 1.2 1.3 Net Income Adjusted for Intangible Amortization (Non-GAAP) $46.0 $45.6 $38.6 $46.1 $42.6 Return on Average Tangible Common Equity 15.7% 15.7% 13.5% 15.9% 15.0% NON-GAAP MEASURES $ in millions Note: Management believes that it is standard practice in the banking industry to present these non-GAAP measures. These measures provide useful information to management and investors by allowing them to make peer comparisons.
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3Q 2026 Earnings Release Webcast Presentation 21 Core Return on Average Tangible Common Equity (%) 3Q26 2Q26 1Q26 4Q25 3Q25 Average Equity $1,559 $1,563 $1,562 $1,550 $1,531 Less: Average intangible assets 398 399 400 401 402 Average Tangible Common Equity $1,160 $1,165 $1,163 $1,149 $1,129 Net Income (GAAP) $44.9 $44.6 $37.5 $44.9 $41.3 Less: Realized gains/ (losses) on securities (after tax) 0.0 (0.3) (0.1) (0.3) (0.2) Less: Merger and acquisition related (after tax) 0.1 0.1 0.1 0.1 0.1 Less: Writedown on Sale Leaseback (after tax) 0.4 0.0 0.0 0.0 0.0 Core Net Income (Non-GAAP) $45.4 $44.4 $37.5 $44.7 $41.2 Less: Intangible amortization (after tax) 1.1 1.0 1.1 1.1 1.3 Core Net Income Adjusted for Intangible Amortization (Non-GAAP) $46.5 $45.4 $38.6 $45.8 $42.5 Core Return on Average Tangible Common Equity 15.9% 15.7% 13.4% 15.8% 14.9% NON-GAAP MEASURES $ in millions Note: Management believes that it is standard practice in the banking industry to present these non-GAAP measures. These measures provide useful information to management and investors by allowing them to make peer comparisons.