First Commonwealth Expands Reach with CenterGroup Financial Merger

First Commonwealth Completes Strategic Acquisition

First Commonwealth Financial Corporation (NYSE: FCF) has successfully completed its acquisition of CenterGroup Financial, Inc., which serves as the parent company of CenterBank, located in Ohio. This merger marks a significant milestone for First Commonwealth as it seeks to broaden its operational footprint in the Ohio market.

Leadership Insights on the Acquisition

T. Michael Price, President and CEO of First Commonwealth, expressed excitement about the merger, stating, “We are pleased to announce the completion of the merger with CenterBank, as it allows us to enhance our presence and continue fostering strong community banking relationships.” His words reflect the company’s commitment to maintain and grow the legacy of CenterBank while integrating its operations with First Commonwealth.

Enhanced Services for Customers

The acquisition is set to be followed by a comprehensive systems conversion planned for a future date, enabling CenterBank’s customers to benefit from First Commonwealth’s expansive network. This network includes access to over 55,000 surcharge-free ATMs and 127 retail offices throughout Pennsylvania and Ohio.

Customers will enjoy an array of new products and services post-merger, including enhanced options for mortgage and personal loans, wealth management, and insurance. Additionally, improvements will be seen in online banking capabilities, making banking more convenient with mobile payment options and BillPay features.

Commercial Solutions for Businesses

For commercial customers, the merger brings a wealth of financing solutions and a comprehensive suite of cash management services designed to streamline operations. Businesses will now also benefit from advanced payment processing options, empowering them to manage credit and debit card transactions effectively.

About First Commonwealth Financial Corporation

Headquartered in Indiana, Pennsylvania, First Commonwealth Financial Corporation stands as a reputable financial services provider with a significant presence. The corporation operates 125 banking offices spread across 30 counties in Pennsylvania and Ohio, along with dedicated business banking facilities in Pittsburgh and several cities in Ohio. The company also runs mortgage offices in various locations, ensuring comprehensive financial solutions are available to its clients.

Continued Commitment to Customer Service

First Commonwealth Financial prides itself on delivering a full spectrum of banking services through its subsidiaries, including First Commonwealth Bank and First Commonwealth Insurance Agency. This merger aligns with their strategic goal of expanding product offerings while enhancing customer satisfaction across all platforms.

Frequently Asked Questions

What is the significance of the First Commonwealth and CenterGroup merger?

The merger significantly increases First Commonwealth’s presence in the Ohio market, enhancing service offerings for existing and new customers.

How will customers benefit from the merger?

Customers will gain access to a larger network of ATMs, expanded product offerings, and improved banking technology, making their banking experience streamlined and efficient.

What should CenterBank customers expect after the merger?

CenterBank customers can look forward to a variety of new services and access to First Commonwealth's comprehensive banking network following the system conversion.

Who can customers contact for more information?

For further inquiries, customers are encouraged to reach out to the Engagement Center at (800) 711-BANK (2265).

What areas does First Commonwealth serve?

First Commonwealth has banking offices in 30 counties across Pennsylvania and Ohio, providing extensive coverage and support to its clients.

About The Author

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