INDIANA, Pa., Sept. 4, 2013 /PRNewswire/ -- First Commonwealth Financial Corporation (NYSE: FCF) today announced the hiring of Stan Foraker as Executive Vice President / Mortgage Banking of First Commonwealth Bank. In this role, Mr. Foraker will report directly to Jane Grebenc, President of First Commonwealth Bank. Mr. Foraker will oversee the bank's Residential Mortgage Division, including mortgage lending, distribution, sales, loan production and new loan underwriting. (Logo: http://photos.prnewswire.com/prnh/20030416/FIRSTLOGO) "Mortgage is a defining aspect of what it means to be a community bank," noted Jane Grebenc. "Stan's 30 years of industry experience and leadership will be a tremendous asset as we add this crucial line of business to our product offerings. I look forward to working with Stan and the First Commonwealth team to ensure that our residential mortgage product is unparalleled in the marketplace." In accepting the position as Executive Vice President / Mortgage Banking, Mr. Foraker stated, "In keeping with the best of what community banking is all about, we at First Commonwealth are going to work together to build a 'First-in-Class' Mortgage Division that addresses one of the most significant financial milestones in our clients' lives and provides a meaningful source of revenue for our organization." Mr. Foraker's 30-year banking career has been largely focused in the areas of consumer and residential mortgage lending. Immediately prior to joining First Commonwealth, Mr. Foraker served as Senior Vice President / Retail Lending at The Home Savings and Loan Company in Youngstown, Ohio. In this role, Mr. Foraker oversaw residential mortgage lending, sales of mortgages in the secondary market, consumer lending, loan servicing, and retail loss mitigation. Mr. Foraker also served as Vice President of Residential Mortgage Lending at Fifth Third Bank in Cleveland, Ohio and as Vice President and Sales Manager of the Cleveland area for State Savings Bank in Columbus, Ohio. Mr. Foraker earned his Bachelor's degree in Accounting from Mount Vernon Nazarene University in Mount Vernon, Ohio. About First Commonwealth Financial Corporation: First Commonwealth is a $6.2 billion financial holding company headquartered in Indiana, Pennsylvania. It operates 110 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. SOURCE First Commonwealth Financial Corporation
In this series, we look through the most recent Dividend Channel ''DividendRank'' report, and then we cherry pick only those companies that have experienced insider buying within the past six months. The officers and directors of a company tend to have a unique insider's view of the business, and presumably the only reason an insider would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both.