This paper girl was part of a video  presentation to “spread the news” and  introduce the company’s new name  and unified brand at an all-employee  event last October.  First Commonwealth Financial Corporation reported net  income of $43.5 million for the year ended December 31, 2002,  which represents $0.75 basic earnings per share and diluted earn- ings per share of $0.74. These results include the effects of $6.1  million of restructuring costs and $8.0 million litigation settle- ment. Net of tax, these nonrecurring charges reduced net income  by $9.2 million. service financial services company that serves our clients and  builds shareholder value. With the recent addition of a financial  planning company, we now have in place the five core competen- cies that will provide the basis for our future success. Banking,  insurance, trust, financial management, and investments, fully  integrated and professionally delivered, form the business model  that will drive growth and performance. T he year 2002 was one of substantial progress for First Commonwealth. Since 1983,  when First Commonwealth Financial Corporation was formed as a bank holding  company, we have been making steady progress in building an integrated, full-  Excluding the nonrecurring charges, core net income  increased $4.9 million to $52.3 million generating basic core  earnings per share of $0.90, compared to $0.82 basic core earn- ings per share for 2001. Core net income increased 10.3% over  the previous year. 3 Annual Report 2002