Capital

12 Months Ended

Dec. 31, 2025

Disclosure Capital Additional Information [Abstract]

Capital

Capital

At December 31, 2025, shareholders’ equity was $1.6 billion, an increase of $149.2 million from December 31, 2024. The increase was due to $152.3 million in net income, $45.9 million of common stock issued as part of the Center acquisition and a $37.9 million increase in the fair value of available for sale securities. This was partially offset by $55.5 million of dividends paid to shareholders and $36.5 million of common stock repurchases. Cash dividends declared per common share were $0.535, $0.515 and $0.495 for the years ended December 31, 2025, 2024 and 2023, respectively.

The Board of Directors have authorized numerous share repurchase programs of the Company's common stock, including separate $25.0 million authorizations in October 2021, April 2023, July 2025 and December 2025. As of December 31, 2025, 5,247,990 shares at an average price of $14.75 have been repurchased and 1,364,851 shares remain under the authorized programs. In January 2026, the Board of Directors approved an additional $25.0 million repurchase program. First Commonwealth may suspend or discontinue the program at any time.