First Commonwealth Completes Acquisition of Centric Financial Corporation
01 Febbraio 2023 - 1:00PM
First Commonwealth Financial Corporation (NYSE: FCF) (“First
Commonwealth”) today announced that it has completed its
previously-announced acquisition of Centric Financial Corporation
(OTCPink: CFCX) (“Centric”), the parent company of Harrisburg,
Pennsylvania based Centric Bank, effective February 1, 2023.
“We are pleased to announce the completion of the merger with
Centric and are excited to build upon the terrific relationships
that Centric has developed over the years,” said President and
Chief Executive Officer T. Michael Price. “This combination expands
our presence into the attractive Pennsylvania markets in and around
Harrisburg, Lancaster, Devon and Doylestown. Centric is
well-respected within these communities with proven leadership. Our
mission is to improve the financial lives of our neighbors and
their businesses and we look forward to carrying out this mission
with our new Centric teammates for many years to come.”
In connection with the closing of the merger, First
Commonwealth’s Board of Directors has appointed former President
and CEO of Centric, Patricia A. Husic, to its board of
directors.
Following a full systems conversion, Centric Bank customers will
be able to access First Commonwealth’s network of 55,000
surcharge-free ATMs worldwide, as well as 126 retail offices
located across Pennsylvania and Ohio.
Customers will also have access to additional products and
services, including mortgage and personal loans, wealth management
and insurance, and enhanced online banking, BillPay, mobile banking
and mobile payment solutions. Commercial customers will have access
to a wide array of financing solutions, a full line of cash
management services and a set of payment processing options to help
manage credit and debit card transaction processing.
For a complete listing of First Commonwealth’s products and
services as well as office and ATM locations, please visit
www.fcbanking.com or by calling the Engagement Center at (800)
711-BANK (2265). TTY/TDD services are available for the speech and
hearing impaired at (877) 816-1801.
About First Commonwealth Financial
Corporation
First Commonwealth (NYSE: FCF), headquartered in Indiana,
Pennsylvania, is a financial services company with 126 banking
offices in 30 counties throughout Pennsylvania and Ohio, as well as
business banking operations in Pittsburgh, Pennsylvania, and
Canton, Cleveland, Columbus and Cincinnati, Ohio. The Company also
operates mortgage offices in Wexford, Pennsylvania, as well as
Hudson, and Lewis Center, Ohio. First Commonwealth provides a full
range of commercial banking, consumer banking, mortgage, equipment
finance, wealth management and insurance products and services
through its subsidiaries First Commonwealth Bank and First
Commonwealth Insurance Agency.
Forward-Looking Statements
Certain statements contained in this release which are not
statements of historical fact constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such statements include, but are not limited to, certain
plans, expectations, goals, projections and benefits relating to
the merger transaction between First Commonwealth Financial
Corporation and Centric Financial Corporation. These statements can
be identified by the fact that they do not relate strictly to
historical or current facts and often include words such as
"believe," "expect," "anticipate," "intend," "plan," "estimate" or
words of similar meaning, or future or conditional verbs such as
"will," "would," "should," "could" or "may." Such statements are
based on assumptions and involve risks and uncertainties, many of
which are beyond our control. In addition to factors previously
disclosed in reports filed by First Commonwealth with the
Securities and Exchange Commission, risks and uncertainties
relating to the merger transaction and the integration of Centric
Bank into First Commonwealth after the merger include, but are not
limited to: the possibility that any of the anticipated benefits of
the proposed merger will not be realized or will not be realized
within the expected time period; the risk that integration of
Centric Bank’s operations with those of First Commonwealth will be
materially delayed or will be more costly or difficult than
expected; diversion of management's attention from ongoing business
operations and opportunities; the challenges of integrating and
retaining key employees; the effect of the announcement of the
merger on First Commonwealth’s, Centric Bank’s or the combined
company's respective customer relationships and operating results;
and general competitive, economic, political and market conditions
and fluctuations. All forward-looking statements included in this
filing are made as of the date hereof and are based on information
available at the time of the filing. Except as required by law,
First Commonwealth assumes no obligation to update any
forward-looking statement.
Media Relations:Jonathan E. LongwillVice
President / Communications and Media RelationsPhone:
724-463-6806E-mail: JLongwill@fcbanking.com
Investor Relations:Ryan M. ThomasVice President
/ Finance and Investor RelationsPhone: 724-463-1690E-mail:
RThomas1@fcbanking.com
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