First Commonwealth Bank has successfully acquired CenterBank in Cincinnati, enhancing its business-oriented client base and expanding its market presence.

Target Information

First Commonwealth Bank, a subsidiary of First Commonwealth Financial Corporation (NYSE: FCF), recently completed the acquisition of CenterBank, a financial institution based in Cincinnati, Ohio. This acquisition, finalized on April 30, 2025, encompasses total assets amounting to $348.4 million, along with three branch locations, a loan production office, and a mortgage center. The rebranding and systems conversion for CenterBank were successfully executed over the weekend of June 6-8, 2025, further solidifying First Commonwealth's presence in the Cincinnati market.

By integrating CenterBank into its operations, First Commonwealth is set to enhance its customer base, which comprises approximately 65 percent business clients. The consolidation of two Milford branch offices into one at 744 State Route 28 aims to improve operational efficiency and customer service. In total, 25 employees from CenterBank have transitioned into new roles within First Commonwealth, fostering stability and continuity for existing clients.

Industry Overview in Ohio

The banking industry in Ohio is characterized by a competitive landscape, with numerous financial institutions vying for market share across various sectors, including commercial, retail, and investment banking. As of 2025, Ohio's economy has continued to grow, refl