First Commonwealth Financial (FCF) risk factors, FY2024 10-K

First Commonwealth Financial's FY2024 10-K, filed Mar 03, 2025, lists 28 risk factors in 3 groups. There is no earlier 10-K to compare against, so the most company-specific risks are listed below.

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Risk factors listed
283 groups
Section length
7k wordsItem 1A

First Commonwealth Financial's biggest risks in the FY2024 10-K

  • Commercial real estate mortgage loans represent 35% of the loan portfolio as of December 31, 2024.
  • Goodwill and other intangible assets total $383.4 million as of December 31, 2024.
  • Core processing operations rely on an external vendor contract.

The risks most specific to First Commonwealth Financial

  • Risks Related To Our Business

    We Are Subject to Risk Arising from Conditions in the Commercial Real Estate Market

    Commercial real estate mortgage loans comprised approximately 35% of our loan portfolio as of December 31, 2024, carrying higher credit risk than residential loans.

  • Risks Related To Our Business

    Unrealized Losses in Our Securities Portfolio Could Affect Liquidity

    Rising market interest rates have caused unrealized losses on our available for sale securities portfolio, reducing our book capital and tangible common equity.

  • Operational Risks

    The Value of Our Goodwill and Other Intangible Assets May Decline in the Future

    We held $383.4 million of goodwill and other intangible assets as of December 31, 2024, which are subject to future impairment charges.

  • Operational Risks

    First Commonwealth Relies on Dividends from its Subsidiary Bank for Most of Its Revenue

    First Commonwealth relies primarily on dividend payments from its subsidiary bank to fund its common stock dividends and debt obligations.

  • Operational Risks

    Our Operations Rely On Certain External Vendors

    We rely on an external vendor for our core processing system to maintain customer records, account transactions, and customer relationship management systems.

  • Risks Related to Acquisition Activity

    The Trading Volume in Our Common Stock Is Less Than That of Other Larger Financial Services Companies

    The trading volume in our common stock is lower than that of larger financial services companies, affecting market depth and liquidity.

All 28 risk factors

Headings as the filing states them, in filing order.

Risks Related To Our Business

  1. 01We Are Subject to Interest Rate Risk
  2. 02We Are Subject to Lending Risk
  3. 03Our Allowance for Credit Losses may be Insufficient
  4. 04We Are Subject to Risk Arising from Conditions in the Commercial Real Estate Market
  5. 05We Are Subject to Liquidity Risk
  6. 06Unrealized Losses in Our Securities Portfolio Could Affect Liquidity

Operational Risks

  1. 07Labor Shortages and Constraints in the Supply Chain Could Adversely Affect Our Customers’ Operations as well as Our Operations
  2. 08Our Accounting Estimates and Risk Management Processes Rely On Analytical and Forecasting Models
  3. 09The Value of Our Goodwill and Other Intangible Assets May Decline in the Future
  4. 10We Are Subject to Risk Arising from Failure or Circumvention of Our Controls and Procedures
  5. 11New Lines of Business, Products or Services and Technological Advancements May Subject Us to Additional Risks
  6. 12Our Reputation and our Business Are Subject to Negative Publicity Risk
  7. 13Our Business, Financial Condition and Results of Operations Are Subject to Risk from Changes in Customer Behavior
  8. 14First Commonwealth Relies on Dividends from its Subsidiary Bank for Most of Its Revenue
  9. 15Our Operations Rely On Certain External Vendors
  10. 16We Depend on the Accuracy and Completeness of Information About Customers and Counterparties
  11. 17We are Subject to Risk Arising from The Soundness of Other Financial Institutions and Counterparties
  12. 18We are Subject to Extensive Government Regulation and Supervision

Risks Related to Acquisition Activity

  1. 19Potential Acquisitions May Disrupt Our Business and Dilute Stockholder Value
  2. 20Acquisitions May Be Delayed, Impeded, or Prohibited Due to Regulatory Issues
  3. 21The Trading Volume in Our Common Stock Is Less Than That of Other Larger Financial Services Companies
  4. 22First Commonwealth May Not Continue to Pay Dividends on Its Common Stock in The Future
  5. 23An Investment in Our Common Stock Is Not an Insured Deposit
  6. 24We are Subject to Risk from Fluctuating Conditions in the Financial Markets and Economic and Political Conditions Generally
  7. 25We May Need to Raise Additional Capital in The Future, and Such Capital May Not Be Available When Needed or at All
  8. 26Our Stock Price Can Be Volatile
  9. 27Changes in Accounting Standards Could Materially Impact Our Financial Statements
  10. 28We May Not Be Able to Attract and Retain Skilled People

Other First Commonwealth Financial 10-Ks

  • FY2025 10-K risk factors
    31 risks3 new1 reworded

    New risks highlight escalating fraud, stablecoin competition for deposits, and federal shutdown effects on lending, liquidity, and credit.

    Filed Mar 02, 2026

About this page

The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.