INDIANA, PA --(Marketwired - April 03, 2017) - First Commonwealth Financial
Corporation (NYSE: FCF) today announced it has completed its acquisition of DCB Financial Corp
(OTC PINK: DCBF), effective April 3, 2017. The Delaware Bank and Trust Company has also merged
into First Commonwealth Bank. The core banking systems conversion, along with signage and account changes for clients, is
expected to be completed over the weekend of May 20, 2017.
"We are pleased to complete this strategic transaction and thrilled to welcome our new shareholders, clients and team members
to First Commonwealth," said President and Chief Executive Officer T. Michael Price. "Within the next few weeks, we will combine
our computer systems and branch operations. During this transition and beyond, our clients will continue to receive the same
level of outstanding client service from the same bankers they've come to know so well."
The acquisition, which was announced on October 3, 2016, includes 13 banking offices in Delaware County, Ohio, giving First
Commonwealth 135 financial solution centers throughout its footprint. With $550 million in assets and $477 million in deposits as
of December 31, 2016, the acquisition of DCB Financial will significantly expand First Commonwealth's presence in Central Ohio
and improve its deposit market share to No. 3 in Delaware County.
Pursuant to the merger agreement, First Commonwealth has appointed former DCB Financial director Bart E. Johnson to serve on
its Board of Directors effective immediately following First Commonwealth's 2017 Annual Meeting of Shareholders, which has been
called for April 25, 2017.
"It is my pleasure to welcome Bart Johnson to First Commonwealth's Board of Directors," said First Commonwealth Chairman of
the Board David S. Dahlmann. "Bart brings extensive leadership experience and a strong background in agriculture and
communications. I am certain Bart will prove to be an invaluable resource in the boardroom and I look forward to serving
alongside him."
About First Commonwealth
First Commonwealth (NYSE: FCF), headquartered in Indiana, Pennsylvania, is a financial services
company with 135 banking offices in 20 counties throughout western and central Pennsylvania and northeastern and central Ohio, as
well as a Corporate Banking Center in northeast Ohio and mortgage offices in Stow and Dublin, Ohio. First Commonwealth provides a
full range of commercial banking, consumer banking, mortgage, wealth management and insurance products and services through its
subsidiaries First Commonwealth Bank and First Commonwealth Insurance Agency. For more information about First Commonwealth or to
open an account today, please visit www.fcbanking.com.
Forward-Looking Statements
This release contains forward-looking statements about First Commonwealth's future plans, strategies and financial
performance. 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. Factors that could cause actual results, performance or
achievements to differ from those discussed in the forward-looking statements include, but are not limited to: (1) local,
regional, national and international economic conditions and the impact they may have on First Commonwealth and its customers;
(2) volatility and disruption in national and international financial markets; (3) the effects of and changes in trade and
monetary and fiscal policies and laws, including the interest rate policies of the Federal Reserve Board; (4) inflation, interest
rate, commodity price, securities market and monetary fluctuations; (5) the effect of changes in laws and regulations (including
laws and regulations concerning taxes, banking, securities and insurance) with which First Commonwealth must comply; (6) the
soundness of other financial institutions; (7) political instability; (8) impairment of First Commonwealth's goodwill or other
intangible assets; (9) acts of God or of war or terrorism; (10) the timely development and acceptance of new products and
services and perceived overall value of these products and services by users; (11) changes in consumer spending, borrowings and
savings habits; (12) changes in the financial performance and/or condition of First Commonwealth's borrowers; (13) technological
changes; (14) acquisitions and integration of acquired businesses; (15) First Commonwealth's ability to attract and retain
qualified employees; (16) changes in the competitive environment in First Commonwealth's markets and among banking organizations
and other financial service providers; (17) the ability to increase market share and control expenses; (18) the effect of changes
in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Public Company Accounting
Oversight Board, the Financial Accounting Standards Board and other accounting standard setters; (19) the reliability of First
Commonwealth's vendors, internal control systems or information systems; (20) the costs and effects of legal and regulatory
developments, the resolution of legal proceedings or regulatory or other governmental inquiries, the results of regulatory
examinations or reviews and the ability to obtain required regulatory approvals; and (21) other risks and uncertainties described
in the reports that First Commonwealth files with the Securities and Exchange Commission, including its most recent Annual Report
on Form 10‐K. Forward-looking statements speak only as of the date on which they are made. First Commonwealth undertakes no
obligation to update any forward-looking statements to reflect circumstances or events that occur after the date the
forward-looking statements are made.