Fast on the heels of legislation in Pennsylvania that liberalizes the regulation of insurance sales for state banks, First Commonwealth Financial Corp. entered a fee-sharing arrangement with a local agency.

The Indiana, Pa.-based banking company announced the formation last week of First Commonwealth Insurance Agency, which will market insurance and annuities through an alliance with Kuzneski Agency, also in Indiana. Kuzneski will offer a variety of carriers for the bank's customers under a revenue-sharing arrangement.

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