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FIRST COMMONWEALTH REPORTS STRONG FIRST QUARTER

 INDIANA, Pa., April 13 /PRNewswire/ -- First Commonwealth Financial Corporation (NYSE: FCF) today announced a 37 percent increase in net income for the first quarter of 1993 compared to the same period one year ago.
 Earnings per share for the quarter equaled $.70, a 25 percent increase over 1992. These results include an adjustment to net income to record the cumulative effect of a change in the method of accounting for income taxes in accordance with the Financial Accounting Standards No. 109. This change increased earnings by $.07 per share.
 According to E. James Trimarchi, chairman, president and chief executive officer, "We are pleased to achieve such a strong start to 1993. More important, however, is our history of consistently improving performance since our corporation's inception in 1983. Many investors who are seeking long-term consistent performance have looked to First Commonwealth stock as an investment in a firm that has a history of steadily improving performance and dividend increases."
 First Commonwealth Financial Corporation is a $1.67 billion central, western Pennsylvania multi-bank holding company. It operates through 62 community offices of its six partner banks: National Bank of the Commonwealth, Indiana; Deposit Bank, DuBois; Cenwest National Bank, Johnstown; First National Bank of Leechburg; Peoples Bank and Trust, Jennerstown; and Central Bank, Hollidaysburg. The corporation also owns Commonwealth Systems Corporation, a data processing subsidiary, and First Commonwealth Trust Company, a financial services subsidiary, both headquartered in Indiana. It jointly owns Commonwealth Trust Credit Life Insurance Company, a credit life insurance company.
 FIRST COMMONWEALTH FINANCIAL CORPORATION
 Financial Highlights
 March 31, 1993
 At March 31 ($000) 1993 1992 Pct. Change
 Assets $1,672,715 $1,346,750 24 pct.
 Deposits 1,396,637 1,164,354 20 pct.
 Net loans 902,307 724,623 25 pct.
 Shareholders' equity 159,550 130,310 22 pct.
 Period Ended Quarter
 March 31 1993 1992 Pct. Change
 Earnings Performance
 Net income ($000)
 Before cumulative effect
 of accounting change $5,374 $4,366 23 pct.
 Cumulative effect of
 accounting change 593 0 --
 After cumulative effect
 of accounting change 5,967 4,366 37 pct.
 Earnings per share
 Before cumulative effect
 of accounting change $0.63 $0.56 13 pct.
 Cumulative effect of
 accounting change $0.07 0 --
 After cumulative effect
 of accounting change $0.70 $0.56 25 pct.
 Return on average assets 1.48 pct. 1.32 pct. --
 Return on average equity 15.21 pct. 13.60 pct. --
 -0- 4/13/93
 /CONTACT: George E. Dash, senior vice president of First Commonwealth Financial, 412-349-7220/
 (FCF)


CO: First Commonwealth Financial Corporation ST: Pennsylvania IN: FIN SU: ERN

DM-KC -- PG005 -- 5358 04/13/93 16:05 EDT
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Publication:PR Newswire
Date:Apr 13, 1993
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