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In December 2003, the FASB issued Statement No. 132(R) “Employers’ Disclosures about Pensions and Other Postretirement Benefits” (“FAS No. 132(R)”). The FASB’s revision of Statement No. 132 retains all of the disclosure items that were provided in FAS No. 132 and requires new annual disclosures about the types of plan assets, investment strategy, measurement date, plan obligations and cash flows as well as the expanded disclosures of 

## NOTE 2— Supplemental Comprehensive Income Disclosures 

assumptions used in various calculations. The statement also requires interim reporting of the components of the net periodic benefit cost recognized. FAS No. 132(R) does not change the measurement or recognition for pension or other postretirement benefit plans. This statement is effective for financial statements with fiscal years ending after December 15, 2003. Disclosure requirements for future benefit payments are effective for fiscal years ending after June 15, 2004. 

The following table identifies the related tax effects allocated to each component of other comprehensive income in the Statements of Changes in Shareholders’ Equity: 

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## NOTE 3— Supplemental Cash Flow Disclosures 

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## NOTE 4— Pending Business Combination 

In December 2003, the Corporation signed a definitive agreement to acquire GA Financial, Inc. (“GAF”), an $890,274 asset savings and loan holding company operating a twelve branch network in Allegheny County in Pennsylvania as of December 31, 2003. Under terms of the agreement, the shareholders of GAF can elect to receive $35.00 in cash or an equivalent of First Commonwealth common stock for each GAF share owned, subject to proration as provided in the definitive agreement to ensure that 40% of the aggregate merger consideration will be paid in cash and 60% in First Commonwealth common stock. Common stock received by GAF shareholders is expected to qualify as a tax-free exchange. Completion of this transaction is subject to shareholder and regulatory approvals. 

