First Commonwealth sees profit rise as less money set aside for bad loans

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First Commonwealth Financial saw third-quarter profit jump 61 percent to $15.9 million from $9.8 million a year earlier as the Indiana, Pa.-based bank set aside less money to cover bad loans.

Per-share earnings were 16 cents versus 9 cents.

Net interest income, essentially profit on loans, edged up 1 percent in the quarter to $47.2 million, while non-interest income slipped 4 percent to $17.1 million.

The provision for loan losses was $2.7 million, down from $6.8 million last year.

Top executives were set to discuss results in a conference call with analysts at 2 p.m.

Patricia Sabatini: or 412-263-3066.

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