First Commonwealth Financial Corporation (NYSE:FCF) Q4 2022 Earnings Conference Call January 25, 2023 2:00 PM ET

Company Participants

Ryan Thomas - Vice President, Finance and IR

Mike Price - President and CEO

Jim Reske - Chief Financial Officer

Jane Grebenc - Bank President and CRO

Brian Karrip - Chief Credit Officer

Conference Call Participants

Daniel Tamayo - Raymond James

Frank Schiraldi - Piper Sandler

Karl Shepard - RBC Capital Markets

Michael Perito - KBW

Manuel Navas - D.A. Davidson

Daniel Cardenas - Janney Montgomery Scott

Matthew Breese - Stephens, Inc.

Operator

Good morning. My name is Devon, and I will be your conference operator today. At this time, I would like to welcome everyone to the First Commonwealth Financial Corporation Q4 2022 Earnings Release Conference Call. 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]

Mr. Ryan Thomas, Vice President of Finance and Investor Relations, you may begin the conference.

Ryan Thomas

Thank you, Devon, and good afternoon, everyone. Thank you for joining us today to discuss First Commonwealth Financial Corporation’s fourth 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 have 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 our 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. Reconciliation of these measures can be accessed in the appendix of today’s slide presentation.

With that, I will turn the call over to Mike.

Mike Price

Hi. Thank you, Ryan.

We had another very productive year and a good quarter. Our fourth quarter core net income increased $2.4 million over the third quarter to $36.8 million. In fourth quarter, core EPS of $0.39 was up $0.02 per share over the third quarter as well.