UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 17, 2003
First
Commonwealth Financial
Corporation
(Exact name of
registrant as specified in its charter)
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Pennsylvania |
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0-11242 |
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25-1428528 |
|
(State or
other jurisdiction |
|
(Commission |
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(IRS Employer |
|
|
|
|
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22 N. Sixth Street, Indiana, PA |
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15701 |
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(Address of Principal Executive Offices) |
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(Zip Code) |
Registrant's telephone
number, including area code: (724) 349-7220
Item
5. OTHER EVENTS
On
July 17, 2003 First Commonwealth Bank, a wholly-owned subsidiary of the
registrant agreed to sell two of its branch offices to Waypoint Bank. Waypoint Bank is a $5.6 billion federally
chartered thrift with 59 branches located throughout Pennsylvania and Maryland. Under the terms of the purchase and
assumption agreement, Waypoint will acquire First Commonwealth Bank branches at
15 South Main Street in Chambersburg, PA and 1720 Lincoln Highway East in
Guilford Township, PA. Waypoint will
assume approximately $30 million of deposit liabilities and purchase $5 million
in loans associated with the two offices.
The transaction is subject to the approval of the Office of Thrift
Supervision and is expected to settle in the third quarter of 2003. The transaction is expected to generate a
pre-tax gain of approximately $3.0 million which will be included in the
registrant's financial results for the third quarter of 2003.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Dated: July 29, 2003
FIRST
COMMONWEALTH FINANCIAL CORPORATION
By: /S/JOHN J.
DOLAN
John J. Dolan
Executive
Vice President and
Chief
Financial Officer