A Pennsylvania bank authorized $25 million to buy back its own shares. It reported $44.9 million in quarterly profit.
First Commonwealth Financial Corporation (FCF) reported a quarterly profit of $44.9 million, up from $41.3 million a year ago. The company authorized a $25 million share buyback. Net interest income rose 3.9% quarter-over-quarter, while noninterest income remained flat. Provision for credit losses increased to $14.2 million, and nonperforming loans rose by $13.6 million.

