First Commonwealth Financial Corporation (NYSE:FCF) Q3 2023 Earnings Conference Call October 25, 2023 2:00 PM ET

Company Participants

Ryan Thomas - Vice President, Finance & Investor Relations

Mike Price - President & Chief Executive Officer

Jim Reske - Chief Financial Officer

Jane Grebenc - Bank President, Chief Revenue Officer

Brian Karrip - Chief Credit Officer

Conference Call Participants

Daniel Tamayo - Raymond James

Michael Perito - KBW

Karl Shepard - RBC Capital Markets

Manuel Navas - D.A. Davidson

Matthew Breese - Stephens Inc.

Daniel Cardenas - Janney Montgomery Scott

Operator

Ladies and gentlemen thank you for standing by. My name is Brent and I would like to welcome everyone to the First Commonwealth Financial Corporation Third Quarter 2023 Earnings Results Release Conference Call. At this time, all lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]

Thank you. It is now my pleasure to turn today's call over to Mr. Ryan Thomas Vice President of Finance and Investor Relations. Sir please go ahead.

Ryan Thomas

Thank you, Brent and good afternoon everyone. Thank you for joining us today to discuss First Commonwealth Financial Corporation third quarter financial results. Participating on today's call will be Mike Price, President and CEO; Jim Reske, Chief Financial Officer; Jane Grebenc, Bank President and Chief Revenue Officer; and Brian Karrip, our Chief Credit Officer.

As a reminder, a copy of yesterday's earnings release can be accessed by logging on to fcbanking.com and selecting the Investor Relations link at the top of the page. We've also included a slide presentation on our Investor Relations website with supplemental financial information that will be referenced during today's call.

Before we begin, I need to caution listeners that this call will contain forward-looking statements. Please refer to the forward-looking statements disclaimer on Page 3 of the slide presentation for a description of risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements.

Today's call will also include non-GAAP financial measures. Non-GAAP financial measures should be viewed in addition, to and not as an alternative for, our reported results prepared in accordance with GAAP. A reconciliation of these measures can be found in the appendix of today's slide presentation.

With that I will turn the call over to Mike.

Mike Price

Thank you, Ryan and good afternoon everyone. For the third quarter of 2023, we are pleased to report core net income of $39.6 million, which translates to $0.39 of earnings per share, an ROA of 1.38%, and efficiency ratio of 53.4%.