January 10, 2018 / 10:35 PM / in a year

BRIEF-First Commonwealth To Enter The Cincinnati Market Through The Acquisition Of Foundation Bank

Jan 10 (Reuters) - First Commonwealth Financial Corp :

* FIRST COMMONWEALTH FINANCIAL CORP - DEAL FOR ‍CASH AND STOCK TRANSACTION VALUED AT APPROXIMATELY $58 MILLION​

* FIRST COMMONWEALTH FINANCIAL CORP - ‍EXPECTS THAT TRANSACTION WILL BE ACCRETIVE TO TANGIBLE BOOK VALUE PER SHARE AT CLOSING​

* FIRST COMMONWEALTH FINANCIAL - SHAREHOLDERS OF GARFIELD ACQUISITION WILL RECEIVE ABOUT 2.8 MILLION SHARES OF CO'S COMMON STOCK

* FIRST COMMONWEALTH FINANCIAL CORP - ‍ EXPECTS DEAL TO BE NOMINALLY ACCRETIVE TO EPS IN FIRST FULL YEAR OF OPERATIONS​

* FIRST COMMONWEALTH FINANCIAL - UPON CLOSING OF DEAL, FOUNDATION BANK WILL MERGE INTO FIRST COMMONWEALTH BANK & OPERATE UNDER FIRST COMMONWEALTH NAME

* FIRST COMMONWEALTH FINANCIAL CORP - SHAREHOLDERS OF GARFIELD ACQUISITION WILL RECEIVE ABOUT $17.4 MILLION IN CASH

* FIRST COMMONWEALTH TO ENTER THE CINCINNATI MARKET THROUGH THE ACQUISITION OF FOUNDATION BANK

* FIRST COMMONWEALTH FINANCIAL - CO, GARFIELD ACQUISITION SIGN MERGER AGREEMENT AS PER WHICH CO WILL ACQUIRE GARFIELD ACQUISITION AND FOUNDATION BANK Source text for Eikon: Further company coverage:

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