US : First Commonwealth Financial Corp. - FCF | 4Q20 First Look: CECL Adoption Skews Reported Results; Core Trends Mostly as Expected

4Q20 results:First Commonwealth reported 4Q20 GAAP EPS of $0.27. Excluding $23,000 in net securities gains, $118,000 in voluntary early retirement expense, and $128,000 in branch consolidation expense, we estimate operating EPS were also $0.27, below our $0.28 estimate, but above the $0.23 consensu