OfferPad Announces $260M in Funding to Propel Expansion

GILBERT, AZ — (Marketwired) — 01/25/17 — OfferPad, the premium online platform changing the way homeowners sell their homes, has secured a $260 million investment of combined equity and debt to continue expansion in additional markets throughout the US. Terms of the investment were made mid-year 2016, with the final tranche of equity about to be finalized. With the injection of capital from private funds managed by LL Funds, LLC., an investment management firm based in Philadelphia, OfferPad will bring this experience to more homeowners.

Founded by real estate industry leaders Brian Bair and Jerry Coleman, OfferPad is reinventing how people sell their homes by eliminating the hassle and uncertainty of the home selling process. Bair was formerly the second highest-selling real estate agent in the US, according to an annual ranking report by REAL Trends, Inc. and The Wall Street Journal. Coleman is one of the founders of Invitation Homes LP, a Blackstone Group company and the largest owner of single-family rental homes in US history with an investment of over $10 billion dollars. Through their experience acquiring approximately 100,000 homes across the country, the team recognized the needs of homeowners have evolved, while the traditional model has remained stagnant.

“Since teaming up almost a decade ago, the number one goal for Jerry and I has been to improve the experience for customers selling their homes,” said Brian Bair, co-founder of OfferPad. “The idea came from a concierge service our firm offered, designed to take most of the hassle out of selling a home with us. The one thing we couldn’t provide was control over the sale or the closing date. Now we can.”

OfferPad buys homes directly from homeowners through an online platform — allowing them to skip the painful traditional process millions experience each year when selling a home. The company utilizes technology, in unison with local real estate experts, to make the entire process convenient and stress-free.

“OfferPad is already providing a revolutionary solution in the single-family home industry. With the support of LL Funds, we can now continue to scale the business, offering a better option to tens of thousands of additional homeowners this year, and we’re just getting started,” said Jerry Coleman, co-founder of OfferPad.

Customer reception to the OfferPad model has been very encouraging, and the company is expanding rapidly. Soon to hit 100 employees, OfferPad has realized substantial revenue growth since launching in 2015, and it plans to increase operations and home purchases significantly. OfferPad is currently in Phoenix, Las Vegas, Salt Lake City, Tampa Bay and Orlando. The company will officially launch in Los Angeles this month, and already has plans to expand into additional markets soon thereafter, with a broader goal of taking the service nationwide in the coming years.

“We were impressed by the OfferPad team’s insight and experience in the residential real estate market,” said Roberto Sella, managing partner of LL Funds.

“Their passion for providing a great customer experience, combined with the opportunity to use technology, data and analytics to impact a market that’s ready for a change, attracted us to this opportunity,” added Shivraj (Raj) Mundy, partner at LL Funds and OfferPad board member.

“We believe this market will grow dramatically in the next five years and OfferPad is leveraging our industry knowledge to best support homeowners,” said Bair. “We’ve optimized the customer experience without losing the personal touch required when people are putting their largest asset up for sale. We want to provide incredible customer service and the best purchase price to give homeowners confidence in our intent to offer a fair alternative to traditional home selling.”

About LL Funds, LLC.
Founded in 2009, LL Funds, LLC. is an independent investment manager focused on identifying opportunistic investments with substantial positive return asymmetry. Currently LL Funds manages $1.4 billion for endowments, foundations, individuals and family offices through multiple private-equity and fixed-income investment vehicles.

About OfferPad
OfferPad is real estate reinvented, making buying and selling a home convenient and hassle-free. Created by technology and real estate experts, customers get the best of both worlds — a fair and competitive offer all at the click of a button. OfferPad is a privately held company headquartered in Gilbert, Arizona, with markets in Phoenix, Las Vegas, Salt Lake City, Tampa Bay and Orlando — with additional cities coming soon. For more information, visit www.offerpad.com.

Helpful links
Facebook: www.facebook.com/OfferPad
LinkedIn: https://www.linkedin.com/company/OfferPad
https://www.linkedin.com/in/jerrycoleman1
https://www.linkedin.com/in/brian-bair-52aa1a4

First Commonwealth Announces Record Net Income for Fourth Quarter and Full-Year 2016; Declares Increased Quarterly Dividend

INDIANA, PA–(Marketwired – January 25, 2017) – First Commonwealth Financial Corporation (NYSE: FCF) today announced financial results for the fourth quarter and full-year of 2016.

Fourth Quarter 2016 Highlights

Franchise Growth

  • Completed the acquisition of 13 FirstMerit branches in Canton and Ashtabula, Ohio enhancing our presence in Northeast Ohio by building on existing loan production offices in Cleveland and suburban Akron; and
  • Announced the acquisition of DCB Financial Corp. in Lewis Center, Ohio building upon our acquisition of Columbus-based First Community Bank in 2015. This transaction has received all necessary regulatory approvals and is expected to close in the second quarter of 2017.

Profitability

  • Return on average assets improved to 1.07% and is at the highest level since the second quarter of 2005;

    – Core return on average assets (excluding acquisition expenses) improved to 1.18%;

  • Return on average tangible common equity improved to 12.46%, the highest level since the second quarter of 2008;

    – Core return on average tangible common equity (excluding acquisition expenses) improved to 13.73%; and

  • The net interest margin improved 15 basis points to 3.44%.

Net Income

  • Record fourth quarter net income was $17.9 million, or $0.20 diluted earnings per share. Core net income (adjusted for acquisition expenses) was $19.7 million, or $0.22 diluted earnings per share. Net income was impacted by the following items:

    – Net interest income of $52.5 million increased by $2.0 million compared to the prior quarter, primarily as a result of the increase in interest rates in December combined with the ability to pay down short-term borrowings following the aforementioned branch acquisition;

    – Noninterest income of $17.7 million, excluding net securities gains, increased by $0.7 million compared to the prior quarter, driven by service charges on deposit accounts, including increased interchange income, and a positive derivative mark-to-market of commercial loan interest rate swaps;

    – Noninterest expense of $45.7 million increased $7.0 million from the previous quarter primarily due to $2.8 million, or $0.02 diluted earnings per share, of one-time acquisition expense related to the FirstMerit branch purchase and increased incentive accruals to align with improved financial performance and productivity; and

    – Provision for credit losses of ($1.8) million, a decrease of $5.2 million from the previous quarter, primarily due to recoveries on loans previously charged off in prior periods and improved asset quality.

As a result of our improved financial performance, we are announcing today an increase in the quarterly dividend from $0.07 to $0.08 per share, an increase of 14.3%.

“This was yet another solid quarter for First Commonwealth, providing a strong finish to a busy year. We are especially pleased by this year’s earnings per share growth of 20% over last year and our sub-60% core efficiency ratio,” stated T. Michael Price, President and Chief Executive Officer. “This continued momentum across our fundamental core businesses and expanded geographies is a reflection of our mission to build a top-performing banking franchise and thoughtfully grow shareholder value.”

Financial Summary

                                                                            
(dollars in                                                                 
 thousands,              For the Three Months Ended     For the Years Ended 
                      ------------------------------------------------------
except per share       December   September  December   December   December 
 data)                    31,        30,        31,        31,        31,   
                         2016       2016       2015       2016       2015   
                      ------------------------------------------------------
Reported Results                                                            
Net income               $17,914    $17,196    $10,061    $59,590    $50,143
Diluted earnings per                                                        
 share                     $0.20      $0.19      $0.11      $0.67      $0.56
Return on average                                                           
 assets                   1.07 %     1.02 %     0.61 %     0.89 %     0.78 %
Return on average                                                           
 equity                   9.46 %     9.14 %     5.50 %     8.02 %     6.98 %
                                                                            
Core Operating                                                              
 Results (non-                                                              
 GAAP)(1)                                                                   
Core net income          $19,744    $17,273    $10,642    $61,652    $50,742
Core diluted earnings                                                       
 per share                 $0.22      $0.19      $0.12      $0.69      $0.57
Core return on                                                              
 average assets           1.18 %     1.03 %     0.65 %     0.93 %     0.79 %
Return on average                                                           
 tangible common                                                            
 equity                  12.46 %    11.77 %     7.16 %    10.43 %     9.10 %
Core return on                                                              
 average tangible                                                           
 common equity           13.73 %    11.82 %     7.57 %    10.79 %     9.20 %
Core efficiency ratio    61.70 %    56.65 %    60.31 %    58.71 %    61.99 %
Net interest margin                                                         
 (FTE)                    3.44 %     3.29 %     3.26 %     3.32 %     3.28 %
                                                                            
(1) Core operating results are a non-GAAP measure used by management to     
    measure performance in operating the business that management believes  
    enhances investors' ability to better understand the underlying business
    performance and trends related to core business activities. See         
    supplemental information included with the release for "non-GAAP        
    Financial Measures and Key Performance Indicators" and additional       
    information.                                                            
                                                                            

Financial Results Summary

For the three months ended December 31, 2016, net income was $17.9 million, or $0.20 diluted earnings per share, compared to net income of $17.2 million, or $0.19 diluted earnings per share, in the third quarter of 2016 and net income of $10.1 million, or $0.11 diluted earnings per share, in the fourth quarter of 2015. The increase in net income compared to the third quarter of 2016 was driven by a $5.2 million decrease in the provision for credit losses and a $2.0 million increase in net interest income, offset by an increase of $7.0 million in noninterest expense, which includes $2.8 million, or $0.02 diluted earnings per share, of one-time acquisition expenses related to the FirstMerit branch purchase. The increase in net income compared to the fourth quarter of 2015 was primarily driven by an $8.0 million decrease in the provision for credit losses, an increase of $3.4 million in net interest income, an increase in noninterest income of $2.2 million, offset by an increase of $2.5 million in noninterest expense which includes the aforementioned $2.8 million of one-time acquisition expenses.

For the year ended December 31, 2016, net income was $59.6 million, or $0.67 diluted earnings per share, compared to net income of $50.1 million, or $0.56 diluted earnings per share, for the comparable period in 2015. The increase in net income compared to 2015 was primarily the result of an increase of $10.9 million in net interest income and a decrease in noninterest expense of $3.9 million, despite $2.8 million of the aforementioned one-time acquisition expenses, offset by a $3.5 million increase in the provision for credit losses.

For the year ended December 31, 2016, return on average assets and return on average equity were 0.89% and 8.02%, respectively, as compared to 0.78% and 6.98% in the same period of 2015. Return on average tangible common equity was 10.43% for the year ended 2016 and 9.10% for the same period of 2015.

Net Interest Income and Net Interest Margin

Fourth quarter 2016 net interest income, on a fully taxable-equivalent basis, increased by $2.0 million to $52.5 million compared to the third quarter of 2016. The increase from the prior quarter was primarily the result of improved yields on our variable and adjustable loan portfolios in keeping with the Federal Reserve’s decision to increase short-term rates in December of 2016, along with the ability to pay down relatively more expensive short-term borrowings following the aforementioned branch acquisition. The yield on interest-earning assets increased by 12 basis points and funding costs declined three basis points during the quarter.

As compared to the fourth quarter of 2015, net interest income, on a fully taxable-equivalent basis, increased by $3.4 million, driven largely by favorable replacement rates on commercial and consumer loan yields and a $102.0 million, or 1.7%, increase in average interest-earning assets, which included an average $31.7 million related to the FirstMerit branch acquisition. The net interest margin of 3.44% in the fourth quarter of 2016 was 18 basis points higher than in the fourth quarter of 2015. The increase came despite a three basis point increase in funding costs over the year ago period that was more than offset by a 19 basis point increase in the yield on interest-earning assets between the periods, and benefited from an increase of $98.8 million in average noninterest-bearing deposits, which included an average of $33.8 million related to the FirstMerit branch acquisition.

For the year ended December 31, 2016, net interest income, on a fully taxable-equivalent basis, increased $10.9 million to $202.9 million as compared to the same period in 2015. The increase in net interest income was a result of a $257.7 million increase in the volume of average interest-earning assets (which includes $8.0 million related to the FirstMerit branch acquisition) over the prior year, and an eight basis point increase in the yield on interest-earning assets, offset by a five basis point increase in funding costs.

Total deposits grew by $488.4 million, or 11.0%, in the fourth quarter of 2016 compared to last quarter, and increased by $751.5 million in the fourth quarter of 2016 from the prior year quarter; however this included the addition of $605.3 million in deposits acquired at the time the FirstMerit branch acquisition closed.

Compared to the prior quarter, average noninterest-bearing demand deposits increased $41.9 million in the fourth quarter of 2016, due in part to the addition of $33.8 million related to the FirstMerit branch acquisition. Noninterest-bearing demand deposits currently comprise 25.6% of total deposits. Average interest-bearing demand and savings deposits increased $115.7 million from the prior quarter despite the addition of $143.9 million of average interest-bearing demand and savings deposits related to the FirstMerit branch acquisition, as deposits gathered through special deposit rate programs earlier in 2016 were allowed to run off in favor of the newly acquired FirstMerit deposits. Average time deposits decreased by $8.6 million compared to the prior quarter.

Comparing average deposit balances in the fourth quarter of 2016 with the same quarter in 2015, average deposits increased by $321.8 million from the year-ago quarter, which includes the addition of $187.0 million in average deposits acquired as part of the FirstMerit branch acquisition. The year-over-year comparison of average deposit balances is driven by increases of $149.3 million of core deposit growth in average interest-bearing demand and savings deposits, which includes the addition of $36.2 million of average interest-bearing demand and savings deposits related to the FirstMerit branch acquisition. Core deposit growth of $93.3 million in average noninterest-bearing deposits, which includes the addition of $8.5 million of average noninterest-bearing deposits related to the FirstMerit branch acquisition, was offset by a decrease of $104.8 million in relatively more expensive average time deposits. Less than 7% of the acquired FirstMerit deposits were time deposits.

Average short-term borrowings decreased $181.1 million from the prior quarter and $218.2 million over the year-ago period as the FirstMerit acquired deposits were utilized to pay down relatively more expensive borrowing levels.

Credit Quality

The provision for credit losses totaled ($1.8) million for the quarter ended December 31, 2016, a decrease of $5.2 million as compared to the prior quarter and a decrease of $8.0 million from the same quarter last year. The decrease from the prior quarter is primarily attributable to $5.1 million in recoveries on loans previously charged off in prior periods and improved asset quality.

At December 31, 2016, nonperforming loans were $41.8 million, a decrease of $13.0 million from September 30, 2016 and a decrease of $9.0 million from December 31, 2015. The decrease from the third quarter of 2016 was related to the resolution of two commercial credits that were paid off during the fourth quarter and charge-offs for two commercial credits that were placed into nonperforming status in the fourth quarter of 2015 and first quarter of 2016. Nonperforming loans as a percentage of total loans were 0.86%, 1.13% and 1.08% for the periods ended December 31, 2016, September 30, 2016 and December 31, 2015, respectively.

During the fourth quarter of 2016, net charge-offs were $2.7 million, compared to $8.5 million in the prior quarter and $3.8 million in the fourth quarter of 2015. Net charge-offs in the fourth quarter of 2016 included a $4.2 million charge-off of a previously established reserve for a steel servicing company classified as nonaccrual in the first quarter of 2016 and a $1.3 million charge-off of a previously established reserve for an energy company classified as nonaccrual in the fourth quarter of 2015. Offsetting these charge-offs were recoveries totaling $5.1 million, which included commercial loans previously charged off in prior periods.

The allowance for credit losses was $50.2 million at December 31, 2016, and as a percentage of total loans outstanding was 1.03%, 1.13% and 1.08% for December 31, 2016, September 30, 2016 and December 31, 2015, respectively. General reserves as a percentage of non-impaired loans were 0.97%, 0.97% and 0.94% for December 31, 2016, September 30, 2016 and December 31, 2015, respectively. The reserve coverage ratio (the ratio of total reserves to nonperforming loans) was 120.0%, 99.8% and 99.9% for December 31, 2016, September 30, 2016 and December 31, 2015, respectively.

Other real estate owned (OREO) acquired through foreclosure declined to $6.8 million at December 31, 2016 from $7.7 million at September 30, 2016 and $9.4 million at December 31, 2015. There were no significant additions to OREO in the fourth quarter of 2016.

Noninterest Income

Noninterest income (excluding net securities gains) increased $0.7 million in the fourth quarter of 2016 as compared to the prior quarter and $2.2 million compared to the same quarter last year. The increase from the prior quarter is primarily the result of a $0.8 million positive variance from the prior quarter in the adjustment for the derivative mark-to-market of commercial loan interest rate swaps, which was $1.3 million in the fourth quarter. Noninterest income also benefited from an increase of $0.4 million in service charges on deposit accounts as compared with the prior quarter, offset by a $0.3 million decline in trust income.

The increase in noninterest income (excluding net securities gains) of $2.2 million compared with the fourth quarter of 2015 is primarily related to a positive variance of $1.1 million in the adjustment for the derivative mark-to-market of commercial loan interest rate swaps, as well as a $0.3 million increase in customer swap income, a $0.7 million increase in gain on sale of mortgage loans and an increase of $0.3 million in service charges on deposit accounts.

For the year ended December 31, 2016, noninterest income (excluding net securities gains) increased $2.5 million to $64.0 million as compared to the same period of 2015. Noninterest income included increases of $1.7 million in gain on sale of mortgage loans, $1.5 million in swap fee income, $0.6 million in service charges on deposit accounts, $0.5 million in card-related interchange income and a $0.5 million positive variance from prior year in the adjustment for the derivative mark-to-market of commercial loan interest rate swaps. Offsetting these increases were decreases of $0.5 million in trust income and $0.6 million in insurance and retail brokerage commissions.

Noninterest Expense

Noninterest expense increased $7.0 million to $45.7 million in the fourth quarter of 2016 as compared to the prior quarter. The increase is attributable to $2.8 million, or $0.02 diluted earnings per share, of one-time acquisition expenses associated with the FirstMerit branch acquisition, an increase in salaries and benefits of $4.3 million as compared to the prior quarter primarily attributable to higher incentives as a result of improved financial performance and productivity, higher payroll taxes and hospitalization costs, and increased expense related to the sale or write-down of foreclosed assets. Also impacting noninterest expense as compared to the prior quarter were decreases of $0.3 million in collection and repossession expenses, $0.4 million in FDIC insurance expense and $0.4 million for the reserve for unfunded loan commitments (which is included in other operating expenses).

Noninterest expense increased $2.5 million in the fourth quarter of 2016 as compared to the fourth quarter of 2015, primarily attributable to the aforementioned $2.8 million of one-time acquisition expenses and an increase in salaries and benefits of $2.1 million as compared to the prior year due to increased incentives of $4.1 million in keeping with improved financial performance and productivity, offset by reduced salary expense due to the realignment of our consumer banking businesses and lower benefits costs. These expenses were further offset by decreases of $0.3 million in FDIC insurance expense, $0.5 million on the loss on sale of other assets and $0.6 million in the reserve for unfunded loan commitments (which is included in other operating expenses).

For the year ended December 31, 2016, noninterest expense decreased $3.9 million, or 2.4%, as compared to the same period of 2015, despite $3.2 million, or $0.02 diluted earnings per share, of one-time acquisition expenses. The decrease is primarily attributable to a decline in salaries and benefits of $2.0 million due to the previously mentioned realignment of our consumer businesses and lower benefits costs, a $0.9 million decrease in Pennsylvania shares tax expense, $0.6 million of decreased collection and repossession expenses, $0.7 million of lower operational losses, a $2.0 million decrease in loss on sale or write-down of assets and lower provision expense of $1.7 million associated with the reserve for unfunded loan commitments (which is included in other operating expenses). These decreases were offset by an increase of $1.3 million in data processing expense due to the issuance of chip debit cards during the first nine months of 2016.

Full time equivalent staff increased to 1,274 at December 31, 2016 from 1,179 at September 30, 2016 and from 1,265 at December 31, 2015, respectively. The increase from September 30, 2016 and December 31, 2015 is the result of the addition of employees from the FirstMerit branch acquisition and the recent expansion of our mortgage and commercial banking businesses in our Ohio market.

The core efficiency ratio, which excludes securities gains and losses, amortization of intangible assets and other nonrecurring items, was 61.70% and 58.71% for the three months and year ended December 31, 2016 as compared to 60.31% and 61.99% for the three months and year ended December 31, 2015. The Consolidated Financial Highlights accompanying this news release include additional information regarding reconciliations of non-GAAP financial measures to reported amounts, including a reconciliation of the core efficiency ratio.

Dividends and Capital

First Commonwealth Financial Corporation declared a common stock quarterly dividend of $0.08 per share, which is payable on February 17, 2017 to shareholders of record as of February 6, 2017. This dividend represents a 2.3% projected annual yield utilizing the January 24, 2017 closing market price of $13.86.

On January 27, 2016, First Commonwealth’s Board of Directors authorized an additional $25.0 million common stock repurchase program, under which the corporation repurchased 45,612 shares at an average price of $8.44 per share during 2016, totaling $0.4 million. This repurchase program was discontinued in July of 2016 to finance the FirstMerit branch acquisition.

First Commonwealth’s capital ratios for Total, Tier I, Leverage and Common Equity Tier I at December 31, 2016 were 12.3%, 11.3%, 9.8% and 10.1%, respectively. Our current capital levels exceed the fully-phased in Basel III capital requirements issued by U.S. bank regulators.

Conference Call

First Commonwealth will host a quarterly conference call to discuss its financial results for the fourth quarter and full-year 2016 on Wednesday, January 25, 2017 at 2:00 PM (ET). The call can be accessed by dialing (toll free) 1-844-792-3645 or through the company’s web page, http://www.fcbanking.com/InvestorRelations. A replay of the call will be available approximately one hour following the conclusion of the conference by dialing 1-877-344-7529 and entering the access code #10098900. A link to the webcast replay will also be accessible on the company’s web page for 30 days.

About First Commonwealth Financial Corporation

First Commonwealth Financial Corporation (NYSE: FCF), headquartered in Indiana, Pennsylvania, is a financial services company with $6.7 billion in total assets and 122 banking offices in 19 counties throughout western and central Pennsylvania 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.

                                                                            
FIRST COMMONWEALTH FINANCIAL CORPORATION                                    
CONSOLIDATED FINANCIAL                                                      
 DATA                                                                       
Unaudited                                                                   
(dollars in thousands,                                                      
 except per share data)                                                     
                           For the Three Months Ended   For the Years Ended 
                         -----------------------------  ------------------- 
                         December  September  December  December   December 
                            31,       30,        31,       31,       31,    
                           2016       2016      2015      2016       2015   
                         -----------------------------  ------------------- 
SUMMARY RESULTS OF                                                          
 OPERATIONS                                                                 
Net interest income                                                         
 (FTE) (1)               $ 52,529  $  50,569  $ 49,179  $202,881  $ 191,941 
Provision for credit                                                        
 losses                    (1,826)     3,408     6,130    18,480     14,948 
Noninterest income         18,332     16,994    15,282    64,599     61,325 
Noninterest expense        45,675     38,696    43,129   159,925    163,874 
Net income                 17,914     17,196    10,061    59,590     50,143 
Core net income (5)        19,744     17,273    10,642    61,652     50,742 
                                                                            
Earnings per common                                                         
 share (diluted)         $   0.20  $    0.19  $   0.11  $   0.67  $    0.56 
Core earnings per common                                                    
 share (diluted) (6)     $   0.22  $    0.19  $   0.12  $   0.69  $    0.57 
                                                                            
KEY FINANCIAL RATIOS                                                        
                                                                            
Return on average assets     1.07%      1.02%     0.61%     0.89%      0.78%
Core return on average                                                      
 assets (7)                  1.18%      1.03%     0.65%     0.93%      0.79%
Return on average                                                           
 shareholders' equity        9.46%      9.14%     5.50%     8.02%      6.98%
Return on average                                                           
 tangible common equity                                                     
 (8)                        12.46%     11.77%     7.16%    10.43%      9.10%
Core return on average                                                      
 tangible common equity                                                     
 (9)                        13.73%     11.82%     7.57%    10.79%      9.20%
Core efficiency ratio                                                       
 (2)(10)                    61.70%     56.65%    60.31%    58.71%     61.99%
Net interest margin                                                         
 (FTE) (1)                   3.44%      3.29%     3.26%     3.32%      3.28%
                                                                            
Book value per common                                                       
 share                   $   8.43  $    8.45  $   8.09                      
Tangible book value per                                                     
 common share (11)           6.20       6.59      6.23                      
Market value per common                                                     
 share                      14.18      10.09      9.07                      
Cash dividends declared                                                     
 per common share            0.07       0.07      0.07  $   0.28  $    0.28 
                                                                            
ASSET QUALITY RATIOS                                                        
Nonperforming loans as a                                                    
 percent of end-of-                                                         
 period loans (3)            0.86%      1.13%     1.08%                     
Nonperforming assets as                                                     
 a percent of total                                                         
 assets (3)                  0.73%      0.94%     0.92%                     
Net charge-offs as a                                                        
 percent of average                                                         
 loans (annualized)          0.22%      0.70%     0.32%                     
Allowance for credit                                                        
 losses as a percent of                                                     
 nonperforming loans (4)   120.02%     99.83%    99.94%                     
Allowance for credit                                                        
 losses as a percent of                                                     
 end-of-period loans (4)     1.03%      1.13%     1.08%                     
                                                                            
CAPITAL RATIOS                                                              
Shareholders' equity as                                                     
 a percent of total                                                         
 assets                      11.2%      11.3%     11.0%                     
Tangible common equity                                                      
 as a percent of                                                            
 tangible assets (12)         8.5%       9.0%      8.7%                     
Leverage Ratio                9.8%      10.0%      9.9%                     
Risk Based Capital -                                                        
 Tier I                      11.3%      11.6%     11.3%                     
Risk Based Capital -                                                        
 Total                       12.3%      12.6%     12.3%                     
Common Equity - Tier I       10.1%      10.3%     10.0%                     
                                                                            
                                                                            
FIRST COMMONWEALTH FINANCIAL                                                
 CORPORATION                                                                
CONSOLIDATED FINANCIAL DATA                                                 
Unaudited                                                                   
(dollars in                                                                 
 thousands,                                                                 
 except per                                                                 
 share data)                                                                
                     For the Three Months Ended       For the Years Ended   
                ----------------------------------- ----------------------- 
                  December   September    December    December    December  
                    31,         30,         31,         31,         31,     
                    2016        2016        2015        2016        2015    
                ----------------------------------------------------------- 
INCOME                                                                      
 STATEMENT                                                                  
  Interest                                                                  
   income       $    55,932 $    54,479 $    52,335 $   217,614 $   204,071 
  Interest                                                                  
   expense            4,413       4,861       4,086      18,579      15,595 
                ----------------------------------------------------------- 
Net Interest                                                                
 Income              51,519      49,618      48,249     199,035     188,476 
  Taxable                                                                   
   equivalent                                                               
   adjustment                                                               
   (1)                1,010         951         930       3,846       3,465 
                ----------------------------------------------------------- 
Net Interest                                                                
 Income (FTE)        52,529      50,569      49,179     202,881     191,941 
  Provision for                                                             
   credit                                                                   
   losses            (1,826)      3,408       6,130      18,480      14,948 
                ----------------------------------------------------------- 
Net Interest                                                                
 Income after                                                               
 Provision for                                                              
 Credit Losses                                                              
 (FTE)               54,355      47,161      43,049     184,401     176,993 
                                                                            
  Net                                                                       
   securities                                                               
   (losses)                                                                 
   gains                589           -        (278)        617        (153)
  Trust income        1,268       1,523       1,323       5,366       5,834 
  Service                                                                   
   charges on                                                               
   deposit                                                                  
   accounts           4,341       3,975       4,048      15,869      15,319 
  Insurance and                                                             
   retail                                                                   
   brokerage                                                                
   commissions        1,916       2,104       1,986       7,964       8,522 
  Income from                                                               
   bank owned                                                               
   life                                                                     
   insurance          1,424       1,350       1,323       5,381       5,412 
  Gain on sale                                                              
   of mortgage                                                              
   loans              1,236       1,235         565       4,086       2,421 
  Gain on sale                                                              
   of other                                                                 
   loans and                                                                
   assets               363         387         427       1,411       1,855 
  Card-related                                                              
   interchange                                                              
   income             3,916       3,698       3,717      14,955      14,501 
  Derivative                                                                
   mark-to-                                                                 
   market             1,294         470         146         219        (274)
  Swap fee                                                                  
   income               374         725         120       2,359         847 
  Other income        1,611       1,527       1,905       6,372       7,041 
                ----------------------------------------------------------- 
Total                                                                       
 Noninterest                                                                
 Income              18,332      16,994      15,282      64,599      61,325 
                                                                            
  Salaries and                                                              
   employee                                                                 
   benefits          24,913      20,647      22,822      87,125      89,161 
  Net occupancy       3,307       3,176       3,194      13,150      13,712 
  Furniture and                                                             
   equipment          3,028       2,847       2,757      11,624      10,737 
  Data                                                                      
   processing         2,050       1,832       1,618       7,429       6,123 
  Pennsylvania                                                              
   shares tax         1,061         914       1,076       3,825       4,693 
  Advertising                                                               
   and                                                                      
   promotion            661         750         692       2,601       2,638 
  Intangible                                                                
   amortization         229          67         136         547         605 
  Collection                                                                
   and                                                                      
   repossession         447         760         597       2,250       2,826 
  Other                                                                     
   professional                                                             
   fees and                                                                 
   services           1,049       1,202       1,157       3,915       4,034 
  FDIC                                                                      
   insurance            698       1,105         967       3,903       4,014 
  Litigation                                                                
   and                                                                      
   operational                                                              
   losses               246         295         482       1,420       2,119 
  Loss on sale                                                              
   or write-                                                                
   down of                                                                  
   assets               526         188       1,075       1,155       3,112 
  Merger and                                                                
   acquisition                                                              
   related            2,815         118         894       3,173         922 
  Other                                                                     
   operating                                                                
   expenses           4,645       4,795       5,662      17,808      19,178 
                ----------------------------------------------------------- 
Total                                                                       
 Noninterest                                                                
 Expense             45,675      38,696      43,129     159,925     163,874 
                                                                            
Income before                                                               
 Income Taxes        27,012      25,459      15,202      89,075      74,444 
  Taxable                                                                   
   equivalent                                                               
   adjustment                                                               
   (1)                1,010         951         930       3,846       3,465 
  Income tax                                                                
   provision          8,088       7,312       4,211      25,639      20,836 
                ----------------------------------------------------------- 
Net Income      $    17,914 $    17,196 $    10,061 $    59,590 $    50,143 
                =========================================================== 
                                                                            
Shares                                                                      
 Outstanding at                                                             
 End of Period   89,007,077  88,992,007  88,961,268  89,007,077  88,961,268 
Average Shares                                                              
 Outstanding                                                                
 Assuming                                                                   
 Dilution        88,887,387  88,858,204  88,850,049  88,851,573  89,356,767 
                                                                            
                                                                            
FIRST COMMONWEALTH FINANCIAL CORPORATION                                    
CONSOLIDATED FINANCIAL DATA                                                 
Unaudited                                                                   
(dollars in thousands)                                                      
                                                                            
                                    December 31, September 30,  December 31,
                                        2016          2016          2015    
                                   -----------------------------------------
BALANCE SHEET (Period End)                                                  
Assets                                                                      
  Cash and due from banks                $91,033       $76,456       $66,644
  Interest-bearing bank deposits          24,644         5,097         2,808
  Securities available for sale,                                            
   at fair value                         815,110       867,725       949,512
  Securities held to maturity, at                                           
   amortized cost                        372,513       389,513       384,324
  Loans held for sale                      7,052         7,855         5,763
                                                                            
  Loans                                4,879,347     4,860,652     4,683,750
  Allowance for credit losses           (50,185)      (54,734)      (50,812)
                                   -----------------------------------------
  Net loans                            4,829,162     4,805,918     4,632,938
                                                                            
  Goodwill and other intangibles         198,496       165,349       165,731
  Other assets                           346,008       348,570       359,170
                                   -----------------------------------------
Total Assets                          $6,684,018    $6,666,483    $6,566,890
                                   =========================================
                                                                            
Liabilities and Shareholders'                                               
 Equity                                                                     
  Noninterest-bearing demand                                                
   deposits                           $1,268,786    $1,241,627    $1,116,689
                                                                            
  Interest-bearing demand deposits       114,043        87,507        86,365
  Savings deposits                     2,972,747     2,552,754     2,390,607
  Time deposits                          591,832       577,092       602,233
                                   -----------------------------------------
  Total interest-bearing deposits      3,678,622     3,217,353     3,079,205
                                                                            
  Total deposits                       4,947,408     4,458,980     4,195,894
                                                                            
  Short-term borrowings                  867,943     1,330,327     1,510,825
  Long-term borrowings                    80,916        81,059        81,481
                                   -----------------------------------------
  Total borrowings                       948,859     1,411,386     1,592,306
                                                                            
  Other liabilities                       37,822        44,330        59,144
  Shareholders' equity                   749,929       751,787       719,546
                                   -----------------------------------------
Total Liabilities and                                                       
 Shareholders' Equity                 $6,684,018    $6,666,483    $6,566,890
                                   =========================================
                                                                            
                                                                            
FIRST COMMONWEALTH FINANCIAL CORPORATION                                    
CONSOLIDATED FINANCIAL DATA                                                 
Unaudited                                                                   
(dollars in thousands)                                                      
                                    For the Three Months Ended              
                       ---------------------------------------------------- 
                        December  Yield   September Yield   December  Yield 
                           31,      /        30,      /        31,      /   
                          2016     Rate     2016     Rate     2015     Rate 
                       -----------------------------------------------------
NET INTEREST MARGIN                                                         
                                                                            
Assets                                                                      
  Loans (FTE)(1)(3)    $4,856,579  3.99% $4,839,206  3.90% $4,684,215  3.83%
  Securities and                                                            
   interest bearing                                                         
   bank deposits (FTE)                                                      
   (1)                  1,225,600  2.66%  1,284,493  2.49%  1,295,982  2.46%
                       ----------        ----------        ----------       
    Total Interest-                                                         
     Earning Assets                                                         
     (FTE) (1)          6,082,179  3.72%  6,123,699  3.60%  5,980,197  3.53%
  Noninterest-earning                                                       
   assets                 555,920           555,977           550,568       
                       ----------        ----------        ----------       
Total Assets           $6,638,099        $6,679,676        $6,530,765       
                       ==========        ==========        ==========       
                                                                            
Liabilities and                                                             
 Shareholders' Equity                                                       
  Interest-bearing                                                          
   demand and savings                                                       
   deposits            $2,768,287  0.14% $2,652,562  0.18% $2,507,385  0.12%
  Time deposits           577,851  0.63%    586,470  0.65%    615,781  0.62%
  Short-term                                                                
   borrowings           1,210,619  0.58%  1,391,766  0.57%  1,428,818  0.46%
  Long-term borrowings     80,984  3.82%     81,128  3.67%     96,669  3.01%
                       ----------        ----------        ----------       
    Total Interest-                                                         
     Bearing                                                                
     Liabilities        4,637,741  0.38%  4,711,926  0.41%  4,648,653  0.35%
  Noninterest-bearing                                                       
   deposits             1,195,862         1,153,945         1,097,013       
  Other liabilities        50,837            65,727            58,887       
  Shareholders' equity    753,659           748,078           726,212       
                       ----------        ----------        ----------       
    Total Noninterest-                                                      
     Bearing Funding                                                        
     Sources            2,000,358         1,967,750         1,882,112       
                       ----------        ----------        ----------       
Total Liabilities and                                                       
 Shareholders' Equity  $6,638,099        $6,679,676        $6,530,765       
                       ==========        ==========        ==========       
                                                                            
Net Interest Margin                                                         
 (FTE) (annualized)(1)             3.44%             3.29%             3.26%
                                                                            
                                                              
FIRST COMMONWEALTH FINANCIAL CORPORATION                      
CONSOLIDATED FINANCIAL DATA                                   
Unaudited                                                     
(dollars in thousands)                                        
                                 For the Years Ended          
                       -------------------------------------- 
                        December            December          
                           31,     Yield/      31,     Yield/ 
                          2016      Rate      2015      Rate  
                      --------------------------------------- 
NET INTEREST MARGIN                                           
                                                              
Assets                                                        
  Loans (FTE)(1)(3)    $4,818,759    3.91% $4,553,634    3.86%
  Securities and                                              
   interest bearing                                           
   bank deposits (FTE)                                        
   (1)                  1,290,392    2.56%  1,297,788    2.45%
                       ----------          ----------         
    Total Interest-                                           
     Earning Assets                                           
     (FTE) (1)          6,109,151    3.63%  5,851,422    3.55%
  Noninterest-earning                                         
   assets                 551,465             547,229         
                       ----------          ----------         
Total Assets           $6,660,616          $6,398,651         
                       ==========          ==========         
                                                              
Liabilities and                                               
 Shareholders' Equity                                         
  Interest-bearing                                            
   demand and savings                                         
   deposits            $2,659,202    0.14% $2,509,950    0.11%
  Time deposits           584,429    0.63%    689,247    0.68%
  Short-term                                                  
   borrowings           1,387,737    0.58%  1,252,531    0.40%
  Long-term borrowings     81,197    3.67%    119,277    2.60%
                       ----------          ----------         
    Total Interest-                                           
     Bearing                                                  
     Liabilities        4,712,565    0.39%  4,571,005    0.34%
  Noninterest-bearing                                         
   deposits             1,146,189           1,052,886         
  Other liabilities        58,918              56,036         
  Shareholders' equity    742,944             718,724         
                       ----------          ----------         
    Total Noninterest-                                        
     Bearing Funding                                          
     Sources            1,948,051           1,827,646         
                       ----------          ----------         
Total Liabilities and                                         
 Shareholders' Equity  $6,660,616          $6,398,651         
                       ==========          ==========         
                                                              
Net Interest Margin                                           
 (FTE) (annualized)(1)               3.32%               3.28%
                                                              
                                                                            
FIRST COMMONWEALTH FINANCIAL CORPORATION                                    
CONSOLIDATED FINANCIAL DATA                                                 
Unaudited                                                                   
(dollars in thousands)                                                      
                                                   September                
                                   December 31,       30,      December 31, 
                                       2016          2016          2015     
                                   ---------------------------------------- 
Loan Portfolio Detail                                                       
  Commercial Loan Portfolio:                                                
    Commercial, financial,                                                  
     agricultural and other        $  1,139,547  $  1,207,447  $  1,150,906 
    Commercial real estate            1,742,210     1,683,015     1,479,000 
    Real estate construction            219,621       229,375       220,736 
                                   ---------------------------------------- 
    Total Commercial                  3,101,378     3,119,837     2,850,642 
                                                                            
  Consumer Loan Portfolio:                                                  
    Closed-end mortgages                713,471       719,049       753,586 
    Home equity lines of credit         515,721       466,710       470,879 
                                   ---------------------------------------- 
      Total Real Estate - Consumer    1,229,192     1,185,759     1,224,465 
                                                                            
    Auto loans                          458,610       467,222       519,809 
    Direct installment                   24,381        24,578        25,993 
    Personal lines of credit             53,339        50,086        47,424 
    Student loans                        12,447        13,170        15,417 
                                   ---------------------------------------- 
      Total Other Consumer              548,777       555,056       608,643 
                                   ---------------------------------------- 
      Total Consumer Portfolio        1,777,969     1,740,815     1,833,108 
                                   ---------------------------------------- 
        Total Portfolio Loans         4,879,347     4,860,652     4,683,750 
      Loans held for sale                 7,052         7,855         5,763 
                                   ---------------------------------------- 
        Total Loans                $  4,886,399  $  4,868,507  $  4,689,513 
                                   ======================================== 
                                                                            
                                                                            
                                      December     September      December  
                                        31,           30,           31,     
                                        2016          2016          2015    
                                   ---------------------------------------- 
ASSET QUALITY DETAIL                                                        
Nonperforming Loans:                                                        
Loans on nonaccrual basis          $     16,301  $     27,817  $     24,345 
Troubled debt restructured loans                                            
 held for sale on nonaccrual basis            -             -             - 
Troubled debt restructured loans                                            
 on nonaccrual basis                     11,722        12,723        12,360 
Troubled debt restructured loans                                            
 on accrual basis                        13,790        14,286        14,139 
                                   ---------------------------------------- 
      Total Nonperforming Loans    $     41,813  $     54,826  $     50,844 
Other real estate owned ("OREO")          6,805         7,686         9,398 
Repossessions ("Repos")                     242           310           227 
                                   ---------------------------------------- 
      Total Nonperforming Assets   $     48,860  $     62,822  $     60,469 
Loans past due in excess of 90                                              
 days and still accruing                  2,131         2,343         2,455 
Classified loans                         92,705        97,259        86,440 
Criticized loans                        134,372       137,264       133,963 
                                                                            
Nonperforming assets as a                                                   
 percentage of total loans, plus                                            
 OREO and Repos                            1.00%         1.29%         1.29%
Allowance for credit losses        $     50,185  $     54,734  $     50,812 
                                                                            
                                                                            
FIRST COMMONWEALTH FINANCIAL CORPORATION                                    
CONSOLIDATED FINANCIAL DATA                                                 
Unaudited                                                                   
(dollars in thousands)                                                      
                                                                            
                         For the Three Months Ended     For the Years Ended 
                      -------------------------------  -------------------- 
                      December   September   December   December   December 
                         31,        30,        31,        31,        31,    
                        2016        2016       2015       2016       2015   
                      -------------------------------  -------------------- 
Net Charge-offs                                                             
 (Recoveries):                                                              
    Commercial,                                                             
     financial,                                                             
     agricultural and                                                       
     other            $  2,392   $   7,100  $   2,675  $  15,439  $  10,332 
    Real estate                                                             
     construction         (335)          -          8       (562)       (76)
    Commercial real                                                         
     estate               (567)        (10)       246       (952)     1,309 
    Residential real                                                        
     estate                139         227         18        708        952 
    Loans to                                                                
     individuals         1,094       1,178        889      4,474      3,670 
                      -------------------------------  -------------------- 
Net Charge-offs       $  2,723   $   8,495  $   3,836  $  19,107  $  16,187 
                                                                            
Net charge-offs as a                                                        
 percentage of                                                              
 average loans                                                              
 outstanding                                                                
 (annualized)             0.22%       0.70%      0.32%      0.40%      0.36%
Provision for credit                                                        
 losses as a                                                                
 percentage of net                                                          
 charge-offs            (67.06%)     40.12%    159.80%     96.72%     92.35%
Provision for credit                                                        
 losses               $ (1,826)  $   3,408  $   6,130  $  18,480  $  14,948 
                                                                            
                                                                            
DEFINITIONS AND RECONCILIATION OF NON-GAAP MEASURES                         
                                                                            
(1) Net interest income has been computed on a fully taxable equivalent     
basis ("FTE") using the 35% federal income tax statutory rate.              
(2) Core efficiency ratio excludes from total revenue the impact of         
derivative mark-to-market and excludes from "total noninterest expense" the 
amortization of intangibles, unfunded commitment expense and any other      
unusual items deemed by management to not be related to normal operations,  
such as merger, acquisition and severance costs.                            
(3) Includes held for sale loans.                                           
(4) Excludes held for sale loans.                                           
                                                                            
                                                                            
                         For the Three Months Ended     For the Years Ended 
                      -------------------------------  -------------------- 
                       December  September   December   December   December 
                         31,        30,        31,        31,        31,    
                         2016       2016       2015       2016       2015   
                      -------------------------------  -------------------- 
                                                                            
Net Income            $  17,914  $  17,196  $  10,061  $  59,590  $  50,143 
  Intangible                                                                
   amortization             229         67        136        547        605 
  Tax benefit of                                                            
   amortization of                                                          
   intangibles              (80)       (23)       (48)      (191)      (212)
                      -------------------------------  -------------------- 
    Net Income,                                                             
     adjusted for tax                                                       
     affected                                                               
     amortization of                                                        
     intangibles         18,063     17,240     10,149     59,946     50,536 
                                                                            
Average Tangible                                                            
 Equity:                                                                    
  Total shareholders'                                                       
   equity             $ 753,659  $ 748,078  $ 726,212  $ 742,944  $ 718,724 
  Less: intangible                                                          
   assets               177,081    165,449    164,222    168,446    163,206 
                      -------------------------------  -------------------- 
    Tangible Equity     576,578    582,629    561,990    574,498    555,518 
  Less: preferred                                                           
   stock                      -          -          -          -          - 
                      -------------------------------  -------------------- 
    Tangible Common                                                         
     Equity           $ 576,578  $ 582,629  $ 561,990  $ 574,498  $ 555,518 
                                                                            
(8)Return on Average                                                        
 Tangible Common                                                            
 Equity                   12.46%     11.77%      7.16%     10.43%      9.10%
                                                                            
                                                                            
FIRST COMMONWEALTH FINANCIAL CORPORATION                   
CONSOLIDATED FINANCIAL DATA                         
Unaudited                                  
(dollars in thousands, except per share data)                
                                                                            
DEFINITIONS AND RECONCILIATION OF                                           
 NON-GAAP MEASURES                                                          
                                                                            
                  For the Three Months Ended          For the Years Ended   
             ------------------------------------  ------------------------ 
               December    September    December     December     December  
                 31,          30,         31,          31,          31,     
                 2016         2016        2015         2016         2015    
             ------------------------------------  ------------------------ 
                                                                            
Core Net                                                                    
 Income:                                                                    
 Total Net                                                                  
  Income     $    17,914  $    17,196 $    10,061  $    59,590  $    50,143 
  Merger &                                                                  
   Acquisit-                                                                
   ion                                                                       
   related                                                                  
   expenses        2,815          118         894        3,173          922 
  Tax                                                                       
   benefit                                                                  
   of merger                                                                
   &                                                                        
   acquisit-                                                                
   ion                                                                       
   related                                                                  
   expenses         (985)         (41)       (313)      (1,111)        (323)
             -------------------------------------------------------------- 
(5)Core net                                                                 
 income           19,744       17,273      10,642       61,652       50,742 
  Average                                                                   
   Shares                                                                   
   Outstand-                                                                
   ing                                                                       
   Assuming                                                                 
   Dilution   88,887,387   88,858,204  88,850,049   88,851,573   89,356,767 
  (6) Core                                                                  
   Earnings                                                                 
   per                                                                      
   common                                                                   
   share                                                                    
   (diluted) $      0.22  $      0.19 $      0.12  $      0.69  $      0.57 
                                                                            
  Intangible                                                                
   amortiza-                                                                
   tion              229           67         136          547          605 
  Tax                                                                       
   benefit                                                                  
   of                                                                       
   amortiza-                                                                
   tion of                                                                   
   intangib-                                                                
   les               (80)         (23)        (48)        (191)        (212)
             --------------------------------------------------------------- 
   Core Net                                                                 
    Income,                                                                 
    adjusted                                                                
    for tax                                                                 
    affected                                                                
    amortiz-                                                                
    ation of                                                                 
    intangi-                                                                
    bles      $    19,893  $    17,317 $    10,730  $    62,008  $    51,135 
                                                                            
(9) Core                                                                    
 Return on                                                                  
 Average                                                                    
 Tangible                                                                   
 Common                                                                     
 Equity            13.73%       11.82%       7.57%       10.79%        9.20%
                                                                            
                                                                            
                  For the Three Months Ended          For the Years Ended   
             ------------------------------------  ------------------------ 
               December    September    December     December     December  
                 31,          30,         31,          31,          31,     
                 2016         2016        2015         2016         2015    
             ------------------------------------  ------------------------ 
Core Return                                                                 
 on Average                                                                 
 Assets:                                                                    
 Total Net                                                                  
  Income     $    17,914  $    17,196 $    10,061  $    59,590  $    50,143 
 Total                                                                      
  Average                                                                   
  Assets       6,638,099    6,679,676   6,530,765    6,660,616    6,398,651 
  Return on                                                                 
   Average                                                                  
   Assets           1.07%        1.02%       0.61%        0.89%        0.78%
                                                                            
 Core Net                                                                   
  Income (5) $    19,744  $    17,273 $    10,642  $    61,652  $    50,742 
 Total                                                                      
  Average                                                                   
  Assets       6,638,099    6,679,676   6,530,765    6,660,616    6,398,651 
  (7)Core                                                                   
   Return on                                                                
   Average                                                                  
   Assets           1.18%        1.03%       0.65%        0.93%        0.79%
                                                                            
                                                                            
FIRST COMMONWEALTH FINANCIAL CORPORATION                                    
CONSOLIDATED  FINANCIAL DATA                                                
Unaudited                                                                   
(dollars in thousands)                                                      
                                                                            
DEFINITIONS AND RECONCILIATION                                              
 OF NON-GAAP MEASURES                                                       
                                                                            
                      -------------------------------- ---------------------
                         For the Three Months Ended     For the Years Ended 
                      -------------------------------- ---------------------
                       December   September  December   December   December 
                          31,        30,        31,        31,        31,   
                         2016       2016       2015       2016       2015   
                      ------------------------------------------------------
Core Efficiency                                                             
 Ratio:                                                                     
  Total Noninterest                                                         
   Expense               $45,675    $38,696    $43,129   $159,925   $163,874
    Adjustments to                                                          
     Noninterest                                                            
     Expense:                                                               
      Unfunded                                                              
       commitment                                                           
       reserve                71        503        630      (341)      1,368
      Pennsylvania                                                          
       shares tax                                                           
       dispute                 -          -          -          -        709
      Intangible                                                            
       amortization          229         67        136        547        605
      Severance                -          -      2,111          -      2,111
      Merger and                                                            
       acquisition                                                          
       related             2,815        118        894      3,173        922
      Loss on sale or                                                       
       writedown of                                                         
       assets                  -          -        400          -        886
                      -------------------------------- ---------------------
        Noninterest                                                         
         Expense -                                                          
         Core            $42,560    $38,008    $38,958   $156,546   $157,273
                                                                            
    Net interest                                                            
     income, fully                                                          
     tax equivalent      $52,529    $50,569    $49,179   $202,881   $191,941
    Total noninterest                                                       
     income               18,332     16,994     15,282     64,599     61,325
    Net securities                                                          
     (gains) losses        (589)          -        278      (617)        153
                      -------------------------------- ---------------------
        Total Revenue    $70,272    $67,563    $64,739   $266,863   $253,419
                                                                            
    Adjustments to                                                          
     Revenue:                                                               
      Derivative                                                            
       mark-to-market      1,294        470        146        219      (274)
                      -------------------------------- ---------------------
        Total Revenue                                                       
         - Core          $68,978    $67,093    $64,593   $266,644   $253,693
                                                                            
(10)Core Efficiency                                                         
 Ratio                    61.70%     56.65%     60.31%     58.71%     61.99%
                                                                            
                                                                            
                       December   September  December                       
                          31,        30,        31,                         
                         2016       2016       2015                         
                      --------------------------------                      
Tangible Equity:                                                            
  Total shareholders'                                                       
   equity               $749,929   $751,787   $719,546                      
  Less: intangible                                                          
   assets                198,496    165,349    165,731                      
                      --------------------------------                      
    Tangible Equity      551,433    586,438    553,815                      
  Less: preferred                                                           
   stock                       -          -          -                      
                      --------------------------------                      
    Tangible Common                                                         
     Equity             $551,433   $586,438   $553,815                      
                                                                            
Tangible Assets:                                                            
  Total assets        $6,684,018 $6,666,483 $6,566,890                      
  Less: intangible                                                          
   assets                198,496    165,349    165,731                      
                      --------------------------------                      
    Tangible Assets   $6,485,522 $6,501,134 $6,401,159                      
                                                                            
(12)Tangible Common                                                         
 Equity as a                                                                
 percentage of                                                              
 Tangible Assets           8.50%      9.02%      8.65%                      
                                                                            
  Shares Outstanding                                                        
   at End of Period   89,007,077 88,992,007 88,961,268                      
(11)Tangible Book                                                           
 Value Per Common                                                           
 Share                     $6.20      $6.59      $6.23                      
                                                                            
Note: Management believes that it is standard practice in the banking       
 industry to present these non-GAAP measures. These measures provide useful 
 information to management and investors by allowing them to make peer      
 comparisons.                                                               
                                                                            

TREB Applauds Protection of First-Time Home Buyers but Remains Concerned About LTT Increase for Repeat Buyers

TORONTO, ONTARIO — (Marketwired) — 01/25/17 — The Toronto Real Estate Board is encouraged that the City of Toronto’s Budget Committee has decided not to currently move forward with proposed Land Transfer Tax increases on first-time home buyers; however, TREB remains concerned about a proposal to increase the Land Transfer Tax by $750 for all other buyers, and is also calling for changes that will help first-time buyers.

“The City’s Budget Committee has done the right thing by taking proposals to hike the land transfer tax on first-time buyers off the table. TREB has been voicing its concern on these proposals since they were first announced late last year, and we are glad to see that City Hall is listening. We believe that Mayor Tory understands the importance of keeping Toronto affordable for everyone, especially first-time buyers, and we applaud his leadership in this regard,” said Larry Cerqua, President of the Toronto Real Estate Board.

The City’s Budget Committee was considering a City staff recommendation to increase the City’s Land Transfer Tax by $475 on all first-time buyers, and by as much as $4,475 for some first-time buyers. Staff also recommended increasing the Land Transfer Tax by $750 on all other home buyers. The City’s Budget Committee decided not to move forward with any increases for first-time buyers by increasing the rebate to $4,475 from $3,725 to offset the $750 which other buyers will face. TREB has been speaking out against the proposed increases and recently launched a campaign to highlight this proposal to the public, encouraging them to visit AnotherObstacle.ca to let Councillors know how they feel about these proposals.

“We are glad that the Budget Committee has addressed some of the concerns that home buyers have with these proposals, but City Council needs to go further. A proposal to hike the Land Transfer Tax by $750, or 7%, for all repeat buyers is still on the table. City Hall’s take from this tax has increased by 200% since 2008, from $3,725 to over $11,000 on an average priced property. Hasn’t City Hall already taken enough from home buyers?” said Von Palmer, TREB’s Chief Communications and Government Affairs Officer.

While TREB is encouraged that the Budget Committee is not moving forward with the proposed increase for first-time buyers, TREB believes that City Council should be going further by providing new relief for first-time buyers. Currently, first-time buyers are allowed a rebate of the Land Transfer Tax that is payable on a purchase price of up to $400,000, which was the average price when this tax was implemented in 2008. The average price in 2016 was over $700,000, which means that first-time buyers have lost substantial ground on the rebate. The provincial government recently recognized this concern by doubling the provincial Land Transfer Tax rebate. TREB is calling for City Council to make similar adjustments to the City Land Transfer Tax rebate to account for increases in housing prices.

“When the Land Transfer Tax was implemented, City Council put in place a rebate that essentially meant first-time buyers purchasing an average-priced home paid zero City Land Transfer Tax. Today, that purchaser would pay over $6,000 in Land Transfer Tax. City Council should follow the provincial government’s lead and give first-time buyers the relief that they deserve,” said Palmer.

Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 46,000 residential and commercial TREB Members serve consumers in the Greater Toronto Area. TREB is Canada’s largest real estate board.

BMO Harris Bank Introduces People Pay

CHICAGO, ILLINOIS — (Marketwired) — 01/25/17 — BMO Harris Bank today announced the release of People Pay, a secure way to send money to friends and family using the BMO Harris Mobile Banking® App. People Pay is the latest investment the bank has made to provide customers a more convenient, secure and reliable way to manage their finances.

Customers have the freedom to send money, from wherever they are, straight from their BMO Harris Mobile Banking® App using People Pay. Recipients are not required to bank with BMO Harris Bank, and they are notified via email once the payment has been sent so they can quickly claim the money. There is no fee for using People Pay and the money gets deposited to the recipient’s bank account in one to three business days.

“People Pay is going to enhance and simplify the way our customers pay for a number of things on a monthly basis – everything from rent to splitting a restaurant check between friends. It’s easy and convenient,” says Kyle Barnett, Head of North American Physical and U.S. Channels, BMO Harris Bank. “We strive to bring seamless and secure banking solutions that can be done right from your smartphone in order to simplify customers’ money matters, because everyone’s time is important.”

With the smartphone quickly becoming the singular device that people use to help manage their life, People Pay will join the roster of innovative mobile products available to BMO Harris Bank customers via their device. People Pay joins BMO Harris Mobile Cash, which allows customers to withdraw money from 900 BMO Harris ATMs across the bank’s footprint using their smartphones. The new sleek smartphone App design provides a more intuitive digital banking and payment experience for customers.

To learn more about BMO Harris Bank’s People Pay, please visit: https://www.bmoharris.com/peoplepay

About BMO Harris Bank

BMO Harris Bank provides a broad range of personal banking products and solutions through nearly 600 branches and approximately 1,300 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Arizona and Florida. BMO Harris Bank’s commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the U.S. For more information about BMO Harris Bank, go to the company fact sheet. Banking products and services are subject to bank and credit approval. BMO Harris Bank N.A. Member FDIC. BMO Harris Bank is part of BMO Financial Group, a North American financial organization with approximately 1,500 branches, and CDN $688 billion in assets (as of October 31, 2016).

Capital Properties, Inc. (CPTP: OTCQX U.S. Premier) | Capital Properties, Inc. Announces Sale of Its Petroleum Storage Facility in East Providence, Rhode Island

EAST PROVIDENCE, R.I., Jan. 25, 2017 /PRNewswire/ — Capital Properties, Inc. (OTCQX: CPTP) announced today that it has signed a definitive agreement to sell the petroleum storage terminal and Wilkesbarre Pier in East Providence, Rhode Island to Sprague Operating Resources LLC („Sprague”), a subsidiary of Sprague Resources LP (NYSE: SRLP), for $23 million in cash at closing.  The terminal’s combined distillate storage capacity of just over 1 million barrels has been leased exclusively by Sprague since May 1, 2014.  The closing is subject to customary terms and conditions and is expected to occur within thirty days.

The Company expects to use proceeds from the sale, net of income taxes, to redeem its 5% dividend notes due December 26, 2022.

Robert H. Eder, Chairman of the Company, said:  „We are pleased to announce the agreement today to sell our petroleum storage assets.  The changing nature of the distillate market in southeastern New England requires the conversion of a significant portion of the terminal’s capacity to gasoline products, which would involve significant capital investment and substantial additional risk.  The Company’s board of directors determined that it was in the Company’s and its shareholders’ best interest to divest these assets rather than undertake the conversion.”    

About Capital Properties, Inc.

Capital Properties, Inc. and its subsidiaries operate in two segments: (1) Leasing and (2) Petroleum Storage.  The leasing segment consists of the long-term leasing of certain of its real estate interests in downtown Providence, Rhode Island for commercial development, the leasing of a portion of a building and the leasing of locations along interstate and primary highways in Rhode Island and Massachusetts for outdoor advertising purposes.  The petroleum storage segment, which is the subject of the sale, consists of the petroleum storage terminal and the Wilkesbarre Pier in East Providence, Rhode Island, which the Company operates for Sprague.

Forward-Looking Statements

Certain written statements made in this press release may contain „forward-looking statements” which represent the Company’s expectations or beliefs concerning future events.  Certain risks, uncertainties and other important factors are detailed in reports filed by the Company with the Securities and Exchange Commission, including Forms 8-K, 10-K and 10-Q.  The Company cautions that these statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements.

CONTACT:
Barbara J. Dreyer, Treasurer
(401) 435-7171

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/capital-properties-inc-announces-sale-of-its-petroleum-storage-facility-in-east-providence-rhode-island-300396190.html

SOURCE Capital Properties, Inc.

Copyright © 2017 PR Newswire. All Rights Reserved

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Distinct Infrastructure Group Inc (DSTFF: OTCQX International) | OTC Markets Group Welcomes Distinct Infrastructure Group Inc. to OTCQX

NEW YORK, Jan. 25, 2017 /PRNewswire/ — OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced Distinct Infrastructure Group Inc (TSX-V: DUG; OTCQX: DSTFF), a utility and telecom infrastructure contractor, has qualified to trade on the OTCQX® Best Market.  Distinct Infrastructure Group upgraded to OTCQX from the Pink® market.

Distinct Infrastructure Group begins trading today on OTCQX under the symbol „DSTFF”.  U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

„Trading on OTCQX will allow Distinct Infrastructure Group to efficiently leverage its existing TSX Venture listing to build visibility and provide a more transparent trading market for U.S. investors,” said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group.  „We are pleased to welcome Distinct Infrastructure Group to the OTCQX Best Market.” 

„We are extremely pleased to trade on OTCQX,” said Jay Vieira, VP Corporate and Legal Affairs at Distinct. „Company management remains committed to broadening Distinct’s retail and institutional shareholder base with a view towards ultimately driving increased shareholder liquidity. Trading on OTCQX allows current and potential U.S. investors to participate directly in the Distinct story and represents another step towards expanding the marketplace for the Company’s shares.”

Distinct Infrastructure Group was sponsored for OTCQX by Dorsey & Whitney LLP, a qualified 3rd party firm responsible for providing guidance on OTCQX requirements and recommending membership. 

Distinct Infrastructure Group Inc. is a utility and telecom infrastructure contractor with capabilities in design, engineering, construction, service & maintenance, and materials management. The company’s goal is to be the premier infrastructure provider for Canadian utilities, municipal and provincial governments. Distinct’s clients currently consist of blue-chip telecommunications and utility infrastructure companies throughout Ontario, and in Western Canada, including Bell and Rogers.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market, and the Pink® Open Market for 10,000 U.S. and global securities.  Through OTC Link® ATS, we connect a diverse network of broker-dealers that provide liquidity and execution services.  We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com

OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
Subscribe to the OTC Markets RSS Feed

Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/otc-markets-group-welcomes-distinct-infrastructure-group-inc-to-otcqx-300395978.html

SOURCE OTC Markets Group Inc.

Copyright © 2017 PR Newswire. All Rights Reserved

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Quorum’s Communicator Messaging Tool Achieves Record Usage Among Dealers as Quorum Announces Enhanced Mobile Platform

CALGARY, ALBERTA — (Marketwired) — 01/25/17 — Quorum Information Technologies (Quorum) (TSX VENTURE: QIS) announced the 2016 composite performance results for its dealership customers that are using the ground-breaking Communicator customer and dealership messaging system embedded in its dealership management system (DMS), XSellerator™. The company also announced its next generation technology platform for the system that greatly enhances the features and value to dealerships.

Communicator provides dealerships with the ability to send text messages and emails to their customers based on their preferences right from within the XSellerator DMS. The messages can be custom ad-hoc or system-generated based on certain transactions or events. Customers can reply to the messages and all the electronic communication is stored both within the related transaction (such as a repair order) and within the customer’s history. The system also offers messaging capabilities between dealership employees.

Communicator has continued to gain widespread adoption and high use among dealerships using Quorum’s modern DMS. Approximately two-thirds of Quorum’s DMS customers now use the system and in 2016 they collectively generated nearly four and a quarter (4.25) million messages using Communicator, up from three (3) million 2015 – an increase of forty percent (40%).

“The way our customers have embraced Communicator has been truly amazing,” said Dan Ichelson, Quorum’s Vice President of Product and Operations. “They recognize the enormous value and efficiencies that it brings to their operation and how it contributes to their own customers’ satisfaction. One of our dealerships even sent us some of their service customer’s satisfaction survey comments – many of which mentioned how pleased they were with the convenience of receiving texts and emails instead of calls. This is how modern consumers prefer to do business and Communicator helps the dealership do so in a reliable, professional, efficient and controllable manner.”

Quorum has also developed an enhanced mobile platform for Communicator. Mr. Ichelson talked about exciting new developments for the messaging system stating, “When we originally built Communicator, it was based on a particular Microsoft technology. This served us well initially, but as we have grown the functionality over the past few years, we began to find limitations of the platform. So, we started a project about a year ago to replace the Microsoft ‘engine’ with an all new platform that we developed ourselves. The new platform makes it easy for dealership employees to ‘go mobile’ and use virtually any device (e.g.: a phone or tablet) to communicate with their customers, but still through the DMS and not their own phone numbers.”

Beyond the mobility afforded by the new Communicator platform, dealerships will also benefit from a host of new features, including a new intuitive interface, better search capabilities and streamlined work flow capability.

Quorum is demonstrating the system at the NADA Convention in New Orleans this weekend, January 27th-29th. To schedule a demonstration, please visit www.QuorumDMS.com/nada2017. Quorum is exhibiting in booth number 4219 at the convention.

About Quorum

Quorum is a North American company focused on developing, marketing, implementing and supporting its XSellerator product for GM, Ford, Chrysler, Toyota, Hyundai, Kia, Nissan, Subaru, NAPA and Bumper to Bumper franchised dealership customers as well as other franchised, independent and some non-automotive dealerships. XSellerator is a dealership and customer management software product that automates, integrates and streamlines every process across departments in a dealership. One of the select North American suppliers under General Motors’ DTAP program, Quorum is also one of largest DMS providers for GM’s Canadian dealerships with nearly 30% of the market. Quorum is a Microsoft Partner in both Canada and the United States. Quorum Information Technologies Inc. is traded on the Toronto Venture Exchange (TSX-V) under the symbol QIS and in 2016 was selected to the TSX Venture 50®, an annual ranking of the strongest performing companies on the TSX Venture Exchange. For additional information please go to www.QuorumDMS.com.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed this release and neither accepts responsibility for the adequacy or accuracy of this release.

OTC Markets Group Inc. (OTCM: OTCQX U.S. Premier) | OTC Markets Group Welcomes Distinct Infrastructure Group Inc. to OTCQX

NEW YORK, Jan. 25, 2017 /PRNewswire/ — OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced Distinct Infrastructure Group Inc (TSX-V: DUG; OTCQX: DSTFF), a utility and telecom infrastructure contractor, has qualified to trade on the OTCQX® Best Market.  Distinct Infrastructure Group upgraded to OTCQX from the Pink® market.

Distinct Infrastructure Group begins trading today on OTCQX under the symbol „DSTFF”.  U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

„Trading on OTCQX will allow Distinct Infrastructure Group to efficiently leverage its existing TSX Venture listing to build visibility and provide a more transparent trading market for U.S. investors,” said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group.  „We are pleased to welcome Distinct Infrastructure Group to the OTCQX Best Market.” 

„We are extremely pleased to trade on OTCQX,” said Jay Vieira, VP Corporate and Legal Affairs at Distinct. „Company management remains committed to broadening Distinct’s retail and institutional shareholder base with a view towards ultimately driving increased shareholder liquidity. Trading on OTCQX allows current and potential U.S. investors to participate directly in the Distinct story and represents another step towards expanding the marketplace for the Company’s shares.”

Distinct Infrastructure Group was sponsored for OTCQX by Dorsey & Whitney LLP, a qualified 3rd party firm responsible for providing guidance on OTCQX requirements and recommending membership. 

Distinct Infrastructure Group Inc. is a utility and telecom infrastructure contractor with capabilities in design, engineering, construction, service & maintenance, and materials management. The company’s goal is to be the premier infrastructure provider for Canadian utilities, municipal and provincial governments. Distinct’s clients currently consist of blue-chip telecommunications and utility infrastructure companies throughout Ontario, and in Western Canada, including Bell and Rogers.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market, and the Pink® Open Market for 10,000 U.S. and global securities.  Through OTC Link® ATS, we connect a diverse network of broker-dealers that provide liquidity and execution services.  We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com

OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
Subscribe to the OTC Markets RSS Feed

Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/otc-markets-group-welcomes-distinct-infrastructure-group-inc-to-otcqx-300395978.html

SOURCE OTC Markets Group Inc.

Copyright © 2017 PR Newswire. All Rights Reserved

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Host.net Introduces New Packages Geared Toward Small to Medium-Sized Businesses and Startup Companies

BOCA RATON, FL — (Marketwired) — 01/25/17 — Host.net, a multinational provider of cloud, managed infrastructure and network services, announces today that it has created IT packages tailored specifically to the needs of small to medium-sized businesses (SMBs) and startup companies. These scalable and secure solutions are designed to be affordable and customized for each company that enlists the support of Host.net, in order to ensure technology needs are met as their business evolves.

According to a recent study released by the research firm SMB Group that examines the top 10 SMB technology trends in 2017, companies will continue digital transformation through the cloud, while modernizing IT with hyper-converged infrastructure and an increased focus on cybersecurity. All of these elements are incorporated into Host.net’s package offerings to meet these needs.

The Host.net cloud is built on industry-leading storage, compute and software resources for maximum performance and redundancy with 24/7 support — all of which is on a fully redundant infrastructure with no single point of failure. From a security standpoint, Host.net has created a backup and recovery solution powered by EVault that offers a highly secure, enterprise-class online solution and provides reliable and efficient data protection, with easy access as well as rapid recovery and restoration of critical data systems. The packages also feature options for Disaster Recovery as a Service (DRaaS) with Zerto Virtual Replication. This solution delivers hypervisor-based replication for mission-critical applications and data. It enables SMBs and startups to recover data in the shortest possible amount of time, thus increasing ROI.

“Host.net has more than 20 years of experience working closely with SMBs and startups to help them operate at their utmost efficiency, while reducing risk and lowering costs,” says Host.net CEO Jason Katz. “We also understand that no two SMBs or startups are alike — and neither are their IT requirements. Our packages are customized to help these businesses manage their unique IT environments and keep their data connected and protected. Our team continues to develop innovative solutions with input from our customers to ensure a complete product that enhances their success.”

Host.net’s Flexible SMB and Startup Packages Start at $99 and Include:

  • Cloud services
  • Data center space (shared cabinets to private suites)
  • Hybrid colocation and cloud solution options
  • Cloud-based backup and disaster recovery
  • Customized, scalable network solutions
  • Managed and professional services
  • Consultative approach
  • SLA guarantee

To learn more about Host.net’s SMB and Startup Packages, download the company’s data sheet. Follow Host.net on Twitter and LinkedIn or email info@host.net for more information.

About Host.net
Host.net is a multinational cloud company offering managed infrastructure services. Specializing in colocation and network transport and transit solutions for enterprise organizations, the company custom designs total solutions tailored to the needs of its clients. Accomplishing uninterrupted service availability, increasing technology capabilities and improving operational efficiencies are hallmarks of Host.net’s services. The company operates multiple enterprise-class data centers connected to an extensive fiber-optic backbone that delivers Internet and layer 2 communications across a wide array of last-mile options. Host.net services clients in most major metropolitan regions of North America as well as portions of Latin America. Additional information about Host.net is available at http://www.host.net. You can also follow Host.net on Twitter and LinkedIn.

Trump Aims to Boost Automakers’ Domestic Capital Spending, an Industrial Info News Alert

SUGAR LAND, TX — (Marketwired) — 01/25/17 — Written by John Egan for Industrial Info Resources (Sugar Land, Texas) — Automakers sold a record number of vehicles in the U.S. last year, and with vehicle-makers under pressure from President Donald Trump to build more cars and trucks domestically, 2017 could turn out to be a year of hefty domestic capital investments by automakers.

For details, view the entire article by subscribing to Industrial Info’s Premium Industry News, or browse other breaking industrial news stories at www.industrialinfo.com.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info’s quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what’s happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the www.industrialinfo.comContact Us” page.