Outlook on 5 Regional Banks Lowered by S&P on CRE Exposure [Yahoo! Finance]
First Commonwealth Financial Corporation (FCF)
Last first commonwealth financial corporation earnings: 4/28 07:00 am
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US:NYSE Investor Relations:
fcbanking.com/why-us
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Source: Yahoo! Finance
The firms in consideration are First Commonwealth Financial Corporation, M&T Bank Corporation MTB, Synovus Financial Corp. SNV, Trustmark Corporation TRMK and Valley National Bancorp VLY. S&P stated, “The negative outlook revisions reflect the possibility that stress in CRE markets may hurt the asset quality and performance of the five banks, which have some of the highest exposures to CRE loans among banks we rate.” After the collapse of Silicon Valley Bank and Signature Bank in early March 2023 (which sparked the regional banking crisis, leading to deposit flights despite regulators' emergency actions to shore up confidence), investors started getting concerned over regional banks' CRE exposure. CRE became an area where borrowers were at increased risk due to high interest rates and low occupancies. The Federal Reserve increased interest rates at the fastest pace in decades to contain the stubborn inflation, which slowed down credit demand. Thus, rating agencies started warn
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FCF
News
- First Commonwealth Financial Corporation (NYSE:FCF) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- First Commonwealth Financial Co. (NYSE: FCF) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- First Commonwealth Financial (FCF) Reports Q1 Earnings: What Key Metrics Have to Say [Yahoo! Finance]Yahoo! Finance
- First Commonwealth Announces First Quarter 2024 Earnings; Increases Quarterly Dividend [Yahoo! Finance]Yahoo! Finance
- First Commonwealth Announces First Quarter 2024 Earnings; Increases Quarterly DividendGlobeNewswire
FCF
Earnings
- 4/23/24 - Beat
FCF
Sec Filings
- 4/25/24 - Form 8-K
- 4/24/24 - Form 4
- 4/24/24 - Form 4
- FCF's page on the SEC website