FIRST COMMONWEALTH FINANCIAL CORPORATION AND SUBSIDIARIES MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS solely as a result of general price level changes. Examples of  nonmonetary items are premises and equipment. Inflation can have a more direct impact on categories of  noninterest expenses such as salaries and wages, supplies and  employee benefit costs. These expenses are very closely  monitored by management for both the effects of inflation and  increases relating to such items as staffing levels, usage of  supplies and occupancy costs. effect of inflation upon its performance. However, it must be  remembered that the asset and liability structure of a financial  institution is substantially different from an industrial  corporation in that virtually all assets and liabilities are  monetary in nature, meaning that they have been or will be  converted into a fixed number of dollars regardless of changes  in general price levels. Examples of monetary items include  cash, loans and deposits. Nonmonetary items are those assets  and liabilities which do not gain or lose purchasing power  COMMON STOCK INFORMATION Cash Dividends Period  High Sale  Low Sale  Per Share 2003  First Quarter  $  12.55  $  11.50  $  0.155 Second Quarter  13.30  11.57  Third Quarter  $  14.00  $  12.60  $  0.155 Fourth Quarter  14.98  13.15  0.160 Cash Dividends Period  High Sale  Low Sale  Per Share 2002  First Quarter  $  14.00  $  11.51  $  0.150 Second Quarter  14.12  12.53  Third Quarter  $  13.37  $  11.62  $  0.150 Fourth Quarter  12.35  10.84  0.155 First Commonwealth Financial Corporation (the “Corporation”) is listed on the New York Stock Exchange under the symbol  “FCF.” The approximate number of holders of record of the Corporation’s common stock is 15,500. The table below sets forth the  high and low sales prices per share and cash dividends declared per share for common stock of the Corporation. 59