Years Ended December 31, 2003 2002 2001 Interest and dividends $ 48 $ 48 $ 42 Dividends from subsidiaries  64,907 43,609 40,442 Interest expense (3,629) (3,570) (3,724) Net securities gains (losses)  742 -0- -0- Other revenue 253  16 Operating expenses  (9,237) (9,161) (7,033) Income before taxes and equity  in undistributed earnings  of subsidiaries  53,084  30,926 29,743 Applicable income tax benefits  4,570  5,304 3,495 Income before equity in undistributed  earnings of subsidiaries 57,654 36,230 33,238 Equity in undistributed earnings  of subsidiaries  (4,354) 7,296 16,951 Net income $ 53,300 $ 43,526 $ 50,189 Statements of Income Balance Sheets NOTE 28— Condensed Financial Information of First Commonwealth Financial Corporation (parent company only) To Be Well Capitalized Under  Actual Regulatory Minimum Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2003  Total Capital to Risk Weighted Assets  First Commonwealth Financial Corporation $ 494,541 14.5% $ 273,207 8.0%  N/A N/A First Commonwealth Bank 403,313 12.0% 269,734 8.0% $ 337,167 10.0% Tier I Capital to Risk Weighted Assets  First Commonwealth Financial Corporation $ 457,156 13.4% $ 136,603 4.0%  N/A N/A First Commonwealth Bank 365,929 10.9% 134,867 4.0% $ 202,300 6.0% Tier I Capital to Average Assets  First Commonwealth Financial Corporation $ 457,156 9.4% $ 146,571 3.0%  N/A N/A First Commonwealth Bank 365,929 7.6% 145,263 3.0% $ 242,105 5.0% As of December 31, 2002  Total Capital to Risk Weighted Assets  First Commonwealth Financial Corporation $ 436,850 14.0% $ 249,240 8.0%  N/A N/A First Commonwealth Bank 402,319 13.0% 246,779 8.0% $ 308,474 10.0% Tier I Capital to Risk Weighted Assets  First Commonwealth Financial Corporation $ 402,354 12.9% $ 124,620 4.0%  N/A N/A First Commonwealth Bank 367,823 11.9% 123,389 4.0% $ 185,084 6.0% Tier I Capital to Average Assets  First Commonwealth Financial Corporation $ 402,354 8.9% $ 135,282 3.0%  N/A N/A First Commonwealth Bank 367,823 8.2% 133,944 3.0% $ 223,239 5.0% NOTE 27— Regulatory Restrictions and Capital Adequacy (continued) NOTESTO CONSOLIDATED FINANCIAL STATEMENTS FIRST COMMONWEALTH FINANCIAL CORPORATION AND SUBSIDIARIES (Dollar Amounts in Thousands) 38 December 31, 2003 2002 Assets Cash $ 1,376 $ 13,844 Securities available for sale 33,052 1,407 Loans to affiliated parties 439 498 Investment in subsidiaries 462,894 413,542 Investment in unconsolidated subsidiary trusts 2,280 -0- Investment in jointly-owned company 5,622 5,081 Premises and equipment 5,887 6,095 Dividends receivable from subsidiaries 11,517 3,394 Receivable from subsidiaries 6,085 7,625 Other assets  5,126 1,936 Total assets $ 534,278 $ 453,422 Liabilities and Shareholders’ Equity Accrued expenses and other liabilities $ 14,199 $ 3,755 Dividends payable 9,714 9,139 Loans payable 2,613 3,055 Subordinated debentures payable 76,806 36,083 Shareholders’ equity 430,946 401,390 Total liabilities and shareholders’ equity $ 534,278 $ 453,422