First Commonwealth Financial Q4 Profit Rises

(RTTNews) - First Commonwealth Financial Corp. (FCF) Wednesday announced a surge in fourth quarter net income to $10.065 million from $7.729 million last year. Earnings per share increased to $0.11 from $0.08 a year ago. On average, 6 analysts polled by Thomson Reuters expected the company to earn $0.16 per share. Analysts estimates usually excludes special items.

Net interest income for the quarter increased to $49.18 million from $46.98 million in the prior year. Non-interest income climbed to $15.28 million from $13.89 million in the previous year. Wall Street was looking for revenue of $63.12 million.

The company has earmarked provision for credit losses of $6.13 million compared to $2.575 million in the prior year.