First Commonwealth Completes Successful Stock Offering
INDIANA, Pa., Aug. 10 /PRNewswire-FirstCall/ -- First Commonwealth Financial Corporation (NYSE: FCF) has completed its previously announced public offering by issuing 18,543,750 shares of common stock, including 2,418,750 shares pursuant to the exercise of the underwriters' over-allotment option. The proceeds of the offering, net of underwriting discounts and estimated offering expenses, were approximately $81.4 million. Macquarie Capital ( USA) Inc. and Stifel, Nicolaus & Company, Incorporated acted as joint book-running managers.
"We are very pleased to have completed a successful offering of common stock," President and CEO John J. Dolan said. "This additional capital will allow us to maintain the momentum in delivering locally as a responsible community bank. It will also enable us to continue to capitalize on the opportunities presented within our market areas."About First Commonwealth First Commonwealth Financial Corporation is a $6.1 billion financial holding company headquartered in Indiana, Pennsylvania. It operates 115 retail branch offices in 15 counties in western and central Pennsylvania through First Commonwealth Bank, a Pennsylvania chartered bank and trust company. Financial services and insurance products are also provided through First Commonwealth Insurance Agency and First Commonwealth Financial Advisors, Inc. Forward-Looking Statements This press release contains forward-looking statements with respect to the recently-completed offering of common stock by First Commonwealth Financial Corporation. Forward-looking statements are based on assumptions and involve risks and uncertainties, many of which are beyond the control of First Commonwealth and which may cause actual results, performance or achievements to differ materially from the results, performance or achievements contemplated by the forward-looking statements. Such risks and uncertainties include among other things, adverse changes in the capital markets in general or in the markets for financial institution stocks in particular. SOURCE First Commonwealth Financial Corporation
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV