In brief: Holding company’s income decreases

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February 2, 2010

Anonymous The Tribune-Democrat Tue Feb 02, 2010, 10:53 PM EST

INDIANA — First Commonwealth Financial Corp., the holding company for First Commonwealth Bank, reported Monday net income for the fourth quarter of $3.3 million, or 4 cents per diluted share, compared with $8.9 million, 11 cents per share, in the fourth quarter of 2008.

The year-over-year decline was primarily the result of a $10.4 million increase in the provision for credit losses as well as an increase of $943,000 in other-than-temporary impairment charges.

“Although our fourth quarter remained challenging, we’re pleased to report net interest income growth that was fueled by a rise in low-cost transaction and savings deposits. We’re focused on growing our core business and that’s helping to drive improved results,” said John J. Dolan, CEO.

First Commonwealth operates banks throughout Cambria and Somerset counties.

JARI gets grant for work force training

Johnstown Area Regional Industries will use a new $10,000 grant to support work force development that helps small businesses prepare their workers for sustainable employment.

Highmark Blue Cross Blue Shield gave JARI the grant.

JARI President Linda Thomson thanked the insurer for the money, saying it will make possible more training support for employers and employees.

Among other things, JARI will use the grant for job training to assist employers in upgrading the skill sets of their workers and in holding a Health and Safety Conference that offers the chance to earn continuing education credits.

Workshop planned for displaced professionals

A workshop for out-of-work professionals will be held from 8:30 a.m. to noon Feb. 25 at Pennsylvania Highlands Community College.

The Job Strategies Workshop for Displaced Professionals is geared toward individuals who have some postsecondary education or a college degree. It is sponsored by Johnstown Area Regional Industries.

Seating is limited to the free workshop, so those interested should preregister by contacting Sherry Click at 535-8675 or sclick@jari.com by Feb. 23.

Tips will be offered on how to plan, execute and manage a successful job search in a tough economy.

Participants will be asked to bring their resumes and will have the chance to speak with local human resources professionals. Topics will include getting around the “over qualified” issue, going for a career change and handling tough wage discussions.

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In brief: Holding company’s income decreases

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