First Commonwealth Financial Corp. in Indiana, Pa., on Tuesday restated its first-quarter earnings downward.

With the restatement the $5.8 billion-asset company's earnings were 23% lower, at $5.2 million. It restated the results after conducting an appraisal on a construction loan in eastern Pennsylvania that had been on nonaccrual status. The appraisal led First Commonwealth to raise its loan-loss provision by 18%, to $13.8 million.

It reported its first-quarter earnings on April 20.

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