First Commonwealth Financial Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported interest income was $55,932,000 against $52,335,000 a year ago. Net interest income (FTE) was $52,529,000 against $49,179,000 a year ago. Net Interest Income after Provision for Credit Losses (FTE) was $54,355,000 against $43,049,000 a year ago. Income before income taxes was $27,012,000 against $15,202,000 a year ago. Net income was $17,914,000 against $10,061,000 a year ago. The increase in net income compared to the fourth quarter of 2015 was primarily driven by an $8.0 million decrease in the provision for credit losses, an increase of $3.4 million in net interest income, an increase in noninterest income of $2.2 million, offset by an increase of $2.5 million in noninterest expense which includes the aforementioned $2.8 million of one-time acquisition expenses. Earnings per diluted common share were $0.20 against $0.11 a year ago. Return on average assets was 1.07% against 0.61% a year ago. Return on average shareholders' equity was 9.46% against 5.50% a year ago. Return on average tangible common equity was 12.46% against 7.16% a year ago. Book value per common share was $8.43 against $8.09 a year ago. Tangible book value per common share was $6.20 against $6.23 a year ago. Total revenue was $70,272,000 against $64,739,000 a year ago. Total revenue, core was $68,978,000 against $64,593,000 a year ago.

For the nine months, the company reported interest income of $217,614,000 against $204,071,000 a year ago. Net interest income (FTE) was $202,881,000 against $191,941,000 a year ago. Net Interest Income after Provision for Credit Losses (FTE) was $184,401,000 against $176,993,000 a year ago. Income before income taxes was $89,075,000 against $74,444,000 a year ago. Net income was $59,590,000 against $50,143,000 a year ago. The increase in net income compared to 2015 was primarily the result of an increase of $10.9 million in net interest income and a decrease in noninterest expense of $3.9 million, despite $2.8 million of the aforementioned one-time acquisition expenses, offset by a $3.5 million increase in the provision for credit losses. Earnings per diluted common share were $0.67 against $0.56 a year ago. Return on average assets was 0.89% against 0.78% a year ago. Return on average shareholders' equity was 8.02% against 6.98% a year ago. Return on average tangible common equity was 10.43% against 9.10% a year ago. Total revenue was $266,863,000 against $253,419,000 a year ago. Total revenue, core was $266,644,000 against $253,693,000 a year ago.

For the quarter, the company reported net charge-offs of $2,723,000 against $3,836,000 a year ago.