First Commonwealth Financial Corporation has received all necessary regulatory approvals to proceed with its merger with CenterGroup Financial (CGFI) and the integration of CenterBank into First Commonwealth Bank.
The Federal Deposit Insurance Corporation approved the merger of CenterBank into First Commonwealth Bank, while the Pennsylvania Department of Banking and Securities approved CGFI’s merger with First Commonwealth. Additionally, the Federal Reserve Bank of Cleveland granted a waiver of its merger application requirements.
The merger remains subject to CGFI shareholder approval and is expected to close in the second quarter of 2025.
