First Commonwealth net income climbs in second quarter
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First Commonwealth Financial this morning reported net income for the second quarter jumped to $12.3 million, or 12 cents per share, from $7.4 million, or 7 cents, as the Indiana, Pa.-based bank set aside less money to cover bad loans.
The provision for credit losses dropped to $4.3 million, down from $9.1 million in the June quarter last year.
Net interest income was flat at $48 million vs. $48.3 million a year earlier, while non-interest income fell 6 percent to $16.1 million from $17.1 million.
First Published July 25, 2012 11:56 am