First Commonwealth Financial Corp. in Indiana, Pa., said Monday that its president and chief executive is retiring.

The company also said that John J. Dolan will step down from the board and as an officer and director of First Commonwealth Bank, First Commonwealth Insurance Agency and First Commonwealth Financial Advisers Inc., effective Dec. 31. Dolan joined the $5.7 billion-asset First Commonwealth in 1980 and had been the CEO for the past four years.

The company named T. Michael Price, the president of its bank, interim president and CEO until a successor can be found.

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