First Commonwealth Financial Corporation Completes CenterGroup Financial, Inc. Merger Acquisition

First Commonwealth Financial Corporation Receives Regulatory Approval for CenterGroup Financial Inc. Acquisition

GREENSBURG, PA and PITTSBURGH, PA, March 25, 2023 – First Commonwealth Financial Corporation (NYSE: FCF), a financial services company, announced today that it has received regulatory approval from the Pennsylvania Department of Banking and the Federal Reserve Bank of Cleveland to acquire CenterGroup Financial Inc., a Pittsburgh-based financial services company.

The acquisition, which was first announced in January, is expected to close on April 15, 2023, subject to the satisfaction of certain closing conditions. Upon completion, CenterGroup Financial Inc. will become a subsidiary of First Commonwealth Financial Corporation.

"We are pleased to have received regulatory approval for the acquisition of CenterGroup Financial Inc.," said Mitch Morgan, President and CEO of First Commonwealth Financial Corporation. "This acquisition is an important step in our strategic growth plan and will further strengthen our presence in the Pittsburgh market. We look forward to welcoming the CenterGroup team to the First Commonwealth family and continuing to provide exceptional financial services to our customers."

CenterGroup Financial Inc. is a financial services company that provides a range of financial products and services, including consumer and commercial lending, deposit services, and investment services. The company has a strong reputation in the Pittsburgh market and has a dedicated team of financial professionals who are committed to providing exceptional customer service.

The acquisition is expected to have a positive impact on First Commonwealth Financial Corporation's financial performance, with the addition of CenterGroup Financial Inc.'s assets and earnings expected to contribute to the company's growth and profitability.

First Commonwealth Financial Corporation is a financial services company that provides a range of financial products and services, including consumer and commercial lending, deposit services, and investment services. The company has a strong reputation in the western Pennsylvania and northern West Virginia markets and is committed to providing exceptional customer service to its customers.