First Commonwealth Completes Acquisition of CenterGroup Financial

Deal News | May 01, 2025 | EIN

First Commonwealth Completes Acquisition of CenterGroup Financial

First Commonwealth Financial Corporation has successfully completed the acquisition of CenterGroup Financial, Inc., the parent entity of CenterBank based in Milford, Ohio. This acquisition aids First Commonwealth's strategic plan to increase its presence in the Cincinnati market. CenterBank is acknowledged for its business-oriented community banking approach, and the merger is expected to integrate CenterBank's clients and employees into First Commonwealth's network. Post-acquisition, there will be a full systems integration in June 2025 enabling CenterBank customers access to a wide range of banking services across an extensive network of ATMs and retail offices. The merger also opens opportunities for enhanced services including mortgage lending, wealth management, and improved online banking options. As forward-looking statements suggest, the full realization of merger benefits entails both opportunities and risks, given the unpredictable nature of market conditions and integration challenges.

Sectors

  • Banking and Financial Services
  • Mergers and Acquisitions

Geography

  • United States – The article pertains to U.S.-based companies First Commonwealth Financial, headquartered in Indiana, Pennsylvania, and CenterGroup Financial, located in Milford, Ohio.

Industry

  • Banking and Financial Services – The article discusses the acquisition of CenterGroup Financial by First Commonwealth Financial, both of which are entities operating in the banking and financial services sector.
  • Mergers and Acquisitions – The primary focus of the article is the completion of an acquisition, which is a typical M&A activity.

Financials

    Participants

    NameRoleTypeDescription
    First Commonwealth Financial CorporationAcquiring CompanyCompanyA financial services company with operations mainly in Pennsylvania and Ohio, offering a variety of banking and financial products.
    CenterGroup Financial, Inc.Target CompanyCompanyThe parent company of CenterBank, based in Milford, Ohio, known for its community banking services.