PR Newswire
INDIANA, Pa., Oct. 23, 2025 /PRNewswire/ — S&T Bancorp, Inc. (S&T) (NASDAQ: STBA), the holding company for S&T Bank, announced net income of $35.0 million, or $0.91 per diluted share, for the third quarter of 2025 compared to net income of $31.9 million, or $0.83 per diluted share, for the second quarter of 2025 and net income of $32.6 million, or $0.85 per diluted share, for the third quarter of 2024.
Third Quarter of 2025 Highlights:
- Strong return metrics with return on average assets (ROA) of 1.42%, return on average equity (ROE) of 9.48% and return on average tangible equity (ROTE) (non-GAAP) of 12.81% compared to ROA of 1.32%, ROE of 8.91% and ROTE (non-GAAP) of 12.12% for the second quarter of 2025.
- Pre-provision net revenue to average assets (PPNR) (non-GAAP) increased 16 basis points to 1.89% compared to 1.73% for the second quarter of 2025.
- Net interest income growth of $2.6 million, or 3.00%, and net interest margin on a fully taxable equivalent basis (NIM) (FTE) (non-GAAP) expansion of 5 basis points to 3.93% compared to 3.88% in the second quarter of 2025.
- Total portfolio loans increased $46.6 million, or 2.33% annualized, compared to June 30, 2025.
- Net charge-offs were $2.4 million, or 0.12% of average loans, compared to net charge-offs of $1.2 million, or 0.06% of average loans, in the second quarter of 2025.
“We delivered another solid quarter with strong return metrics thanks to the efforts of our team and their commitment to our people-forward banking purpose,” said Chris McComish, chief executive officer. “Our results reflect improving revenue gains supported by net interest margin expansion. We continue to build robust capital levels which provide us financial flexibility for future growth.”
Net Interest Income
Net interest income increased $2.6 million, or 3.00%, to $89.2 million in the third quarter of 2025 compared to $86.6 million in the second quarter of 2025. Average interest-earning assets increased $88.2 million to $9.1 billion in the third quarter of 2025 compared to $9.0 billion in the second quarter of 2025. NIM (FTE) (non-GAAP) expanded 5 basis points to 3.93% compared to 3.88% in the prior quarter. The yield on average total interest-earning assets increased 1 basis point to 5.77% compared to 5.76% in the second quarter of 2025. Total interest-bearing liability costs decreased 3 basis points to 2.81% compared to 2.84% in the second quarter of 2025 mainly due to the repricing of certificates of deposits.
Asset Quality
The allowance for credit losses, or ACL, was $98.2 million, or 1.23% of total portfolio loans, at September 30, 2025 compared to $98.6 million, or 1.24%, at June 30, 2025. The provision for credit losses was $2.8 million for the third quarter of 2025 compared to $2.0 million in the second quarter of 2025. Net charge-offs were $2.4 million, or 0.12% of average loans, compared to net charge-offs of $1.2 million, or 0.06% of average loans in the second quarter of 2025. Nonperforming assets (NPAs) increased $28.3 million to $49.6 million, or 0.62% of total loans plus OREO, compared to $21.3 million, or 0.27%, at June 30, 2025. Total NPAs remain at a manageable level.
Noninterest Income and Expense
Noninterest income was relatively unchanged at $13.8 million in the third quarter of 2025 compared to $13.5 million in the second quarter of 2025. Total noninterest expense decreased $1.7 million to $56.4 million compared to $58.1 million in the second quarter of 2025. Salaries and employee benefits decreased $0.7 million primarily related to lower incentive and medical costs compared to the second quarter of 2025. Professional services and legal decreased $0.5 million due to lower consulting fees compared to the second quarter of 2025.
Financial Condition
Total assets were $9.8 billion at both September 30, 2025 and June 30, 2025. Total portfolio loans increased $46.6 million, or 2.33% annualized, compared to June 30, 2025. The commercial loan portfolio increased $9.9 million with growth in commercial real estate of $133.5 million offset by decreases in commercial construction of $77.6 million and a decrease in commercial and industrial of $46.0 million compared to June 30, 2025. The consumer loan portfolio increased $36.6 million compared to June 30, 2025 primarily as a result of growth in residential mortgage of $21.6 million and in home equity of $17.7 million. Total deposits increased $1.0 million, or 0.05% annualized, compared to June 30, 2025. Noninterest-bearing demand increased $6.4 million, interest-bearing demand $7.7 million and CDs $39.8 million, offset by decreases in money market of $41.6 million and savings of $11.2 million compared to June 30, 2025.
S&T continues to maintain a strong regulatory capital position with all capital ratios above the well-capitalized thresholds of federal bank regulatory agencies.
Conference Call
S&T will host its third quarter 2025 earnings conference call live via webcast at 1:00 p.m. ET, Thursday, October 23, 2025. To access the webcast, go to S&T Bancorp Inc.’s Investor Relations webpage stbancorp.com. After the live presentation, the webcast will be archived at stbancorp.com for 12 months.
About S&T Bancorp, Inc. and S&T Bank
S&T Bancorp, Inc. is a $9.8 billion bank holding company that is headquartered in Indiana, Pennsylvania and trades on the NASDAQ Global Select Market under the symbol STBA. Its principal subsidiary, S&T Bank, was established in 1902 and operates in Pennsylvania and Ohio. For more information, visit stbancorp.com or stbank.com. Follow us on Facebook, Instagram and LinkedIn.
Forward-Looking Statements
This information contains or incorporates statements that we believe are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to our financial condition, results of operations, plans, objectives, outlook for earnings, revenues, expenses, capital and liquidity levels and ratios, asset levels, asset quality, financial position and other matters regarding or affecting S&T and its future business and operations. Forward-looking statements are typically identified by words or phrases such as “will likely result,” “expect,” “anticipate,” “estimate,” “forecast,” “project,” “intend,” “believe,” “assume,” “strategy,” “trend,” “plan,” “outlook,” “outcome,” “continue,” “remain,” “potential,” “opportunity,” “comfortable,” “current,” “position,” “maintain,” “sustain,” “seek,” “achieve” and variations of such words and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could” or “may.” Although we believe the assumptions upon which these forward-looking statements are based are reasonable, any of these assumptions could prove to be inaccurate and the forward-looking statements based on these assumptions could be incorrect. The matters discussed in these forward-looking statements are subject to various risks, uncertainties and other factors that could cause actual results and trends to differ materially from those made, projected or implied in or by the forward-looking statements depending on a variety of uncertainties or other factors including, but not limited to: credit losses and the credit risk of our commercial and consumer loan products; changes in the level of charge-offs and changes in estimates of the adequacy of the allowance for credit losses, or ACL; cybersecurity concerns; rapid technological developments and changes; operational risks or risk management failures by us or critical third parties, including fraud risk; our ability to manage our reputational risks; sensitivity to the interest rate environment, a rapid increase in interest rates or a change in the shape of the yield curve; a change in spreads on interest-earning assets and interest-bearing liabilities; regulatory supervision and oversight, including changes in regulatory capital requirements and our ability to address those requirements; unanticipated changes in our liquidity position; unanticipated changes in regulatory and governmental policies impacting interest rates and financial markets; changes in accounting policies, practices or guidance; legislation affecting the financial services industry as a whole, and S&T, in particular; developments affecting the industry and the soundness of financial institutions and further disruption to the economy and U.S. banking system; the outcome of pending and future litigation and governmental proceedings; increasing price and product/service competition; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; managing our internal growth and acquisitions; the possibility that the anticipated benefits from acquisitions cannot be fully realized in a timely manner or at all, or that integrating the acquired operations will be more difficult, disruptive or costly than anticipated; containing costs and expenses; reliance on significant customer relationships; an interruption or cessation of an important service by a third-party provider; our ability to attract and retain talented executives and other employees; general economic or business conditions, including the strength of regional economic conditions in our market area; ESG practices and disclosures, including climate change, hiring practices, the diversity of the work force and racial and social justice issues; deterioration of the housing market and reduced demand for mortgages; deterioration in the overall macroeconomic conditions or the state of the banking industry that could warrant further analysis of the carrying value of goodwill and could result in an adjustment to its carrying value resulting in a non-cash charge to net income; the stability of our core deposit base and access to contingency funding; re-emergence of turbulence in significant portions of the global financial and real estate markets that could impact our performance, both directly, by affecting our revenues and the value of our assets and liabilities, and indirectly, by affecting the economy generally and access to capital in the amounts, at the times and on the terms required to support our future businesses and geopolitical tensions and conflicts between nations.
Many of these factors, as well as other factors, are described in our Annual Report on Form 10-K for the year ended December 31, 2024, including Part I, Item 1A-“Risk Factors” and any of our subsequent filings with the SEC. Forward-looking statements are based on beliefs and assumptions using information available at the time the statements are made. We caution you not to unduly rely on forward-looking statements because the assumptions, beliefs, expectations and projections about future events may, and often do, differ materially from actual results. Any forward-looking statement speaks only as to the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect developments occurring after the statement is made.
Non-GAAP Financial Measures
In addition to traditional measures presented in accordance with GAAP, our management uses, and this information contains or references, certain non-GAAP financial measures, such as tangible book value, return on average tangible shareholder’s equity, PPNR to average assets, efficiency ratio on an FTE basis, tangible common equity to tangible assets and net interest margin on an FTE basis. We believe these non-GAAP financial measures provide information useful to investors in understanding our underlying operational performance and our business and performance trends as they facilitate comparisons with the performance of other companies in the financial services industry. Although we believe that these non-GAAP financial measures enhance investors’ understanding of our business and performance, these non-GAAP financial measures should not be considered alternatives to GAAP or considered to be more important than financial results determined in accordance with GAAP, nor are they necessarily comparable with non-GAAP measures which may be presented by other companies. See Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures for more information related to these financial measures.
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Loans, including fees |
$120,321 |
$117,696 |
$120,907 |
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Investment Securities: |
||||||
|
Taxable |
10,994 |
10,846 |
10,221 |
|||
|
Tax-exempt |
34 |
35 |
165 |
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Dividends |
274 |
329 |
181 |
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||||||
|
Deposits |
39,864 |
39,056 |
42,493 |
|||
|
Borrowings, junior subordinated debt securities and other |
2,518 |
3,278 |
4,504 |
|||
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|||
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Provision for credit losses |
2,792 |
1,974 |
(454) |
|||
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|||
|
|
||||||
|
Loss on sale of securities |
— |
— |
(2,199) |
|||
|
Debit and credit card |
4,722 |
4,588 |
4,688 |
|||
|
Service charges on deposit accounts |
4,175 |
4,090 |
4,181 |
|||
|
Wealth management |
3,118 |
3,042 |
3,071 |
|||
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Other |
1,748 |
1,780 |
2,136 |
|||
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|||
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||||||
|
Salaries and employee benefits |
32,180 |
32,907 |
31,274 |
|||
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Data processing and information technology |
4,901 |
4,847 |
5,003 |
|||
|
Occupancy |
4,014 |
4,024 |
3,828 |
|||
|
Furniture, equipment and software |
3,225 |
3,352 |
3,410 |
|||
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Other taxes |
2,088 |
2,088 |
1,874 |
|||
|
Marketing |
1,255 |
1,490 |
1,382 |
|||
|
Professional services and legal |
1,199 |
1,739 |
1,229 |
|||
|
FDIC insurance |
1,071 |
1,062 |
1,054 |
|||
|
Other noninterest expense |
6,443 |
6,605 |
6,311 |
|||
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|||
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Income tax expense |
8,874 |
8,084 |
8,853 |
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||||||
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Shares outstanding at end of period |
38,350,500 |
38,345,448 |
38,259,730 |
|||
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Average shares outstanding – diluted |
38,595,118 |
38,637,400 |
38,560,409 |
|||
|
Diluted earnings per share |
$0.91 |
$0.83 |
$0.85 |
|||
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Dividends declared per share |
$0.34 |
$0.34 |
$0.33 |
|||
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Dividend yield (annualized) |
3.62 % |
3.60 % |
3.15 % |
|||
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Dividends paid to net income |
37.35 % |
41.30 % |
38.77 % |
|||
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Book value |
$38.47 |
$37.70 |
$35.96 |
|||
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Tangible book value (non-GAAP) (1) |
$28.69 |
$27.90 |
$26.13 |
|||
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Market value |
$37.59 |
$37.82 |
$41.97 |
|||
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||||||
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Return on average assets |
1.42 % |
1.32 % |
1.35 % |
|||
|
Return on average shareholders’ equity |
9.48 % |
8.91 % |
9.58 % |
|||
|
Return on average tangible shareholders’ equity (non-GAAP)(2) |
12.81 % |
12.12 % |
13.35 % |
|||
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Pre-provision net revenue / average assets (non-GAAP)(3) |
1.89 % |
1.73 % |
1.78 % |
|||
|
Efficiency ratio (FTE) (non-GAAP)(4) |
54.41 % |
57.73 % |
55.88 % |
|||
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||||||
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||||||
|
Loans, including fees |
$352,357 |
$359,048 |
||||
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Investment Securities: |
||||||
|
Taxable |
31,913 |
27,577 |
||||
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Tax-exempt |
226 |
526 |
||||
|
Dividends |
881 |
842 |
||||
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||||
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||||||
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Deposits |
117,274 |
118,784 |
||||
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Borrowings, junior subordinated debt securities and other |
8,967 |
17,661 |
||||
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Provision for credit losses |
1,726 |
2,595 |
||||
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||||
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||||||
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Loss on sale of securities |
(2,295) |
(5,346) |
||||
|
Debit and credit card |
13,498 |
13,636 |
||||
|
Service charges on deposit accounts |
12,227 |
12,098 |
||||
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Wealth management |
9,244 |
9,108 |
||||
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Other |
5,018 |
8,516 |
||||
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||||||
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Salaries and employee benefits |
94,940 |
91,174 |
||||
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Data processing and information technology |
14,678 |
14,172 |
||||
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Occupancy |
12,340 |
11,347 |
||||
|
Furniture, equipment and software |
10,060 |
10,264 |
||||
|
Other Taxes |
5,670 |
5,178 |
||||
|
Marketing |
4,360 |
4,729 |
||||
|
Professional services and legal |
4,224 |
4,352 |
||||
|
FDIC insurance |
3,173 |
3,156 |
||||
|
Other noninterest expense |
20,136 |
19,121 |
||||
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||||
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||||
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Income tax expense |
25,258 |
25,272 |
||||
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||||
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||||||
|
Average shares outstanding – diluted |
38,611,041 |
38,566,858 |
||||
|
Diluted earnings per share |
$2.60 |
$2.55 |
||||
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Dividends declared per share |
$1.02 |
$0.99 |
||||
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Dividends paid to net income |
39.15 % |
38.66 % |
||||
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||||||
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Return on average assets |
1.38 % |
1.37 % |
||||
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Return on average shareholders’ equity |
9.35 % |
9.97 % |
||||
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Return on average tangible shareholders’ equity (non-GAAP)(5) |
12.73 % |
14.06 % |
||||
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Pre-provision net revenue / average assets (non-GAAP)(6) |
1.78 % |
1.79 % |
||||
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Efficiency ratio (FTE) (non-GAAP)(7) |
56.35 % |
55.68 % |
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Cash and due from banks |
$196,228 |
$203,118 |
$228,090 |
|||
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Securities available for sale, at fair value |
1,001,149 |
1,021,183 |
1,011,312 |
|||
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Loans held for sale |
— |
— |
307 |
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Commercial loans: |
||||||
|
Commercial real estate |
3,653,790 |
3,520,294 |
3,327,895 |
|||
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Commercial and industrial |
1,466,075 |
1,512,027 |
1,548,172 |
|||
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Commercial construction |
320,190 |
397,785 |
386,509 |
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Consumer loans: |
||||||
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Residential mortgage |
1,700,636 |
1,678,992 |
1,612,629 |
|||
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Home equity |
698,886 |
681,143 |
645,966 |
|||
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Installment and other consumer |
102,600 |
100,177 |
105,235 |
|||
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Consumer construction |
38,830 |
44,016 |
62,648 |
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|||
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Allowance for credit losses |
(98,155) |
(98,580) |
(104,321) |
|||
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|||
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Federal Home Loan Bank and other restricted stock, at cost |
15,042 |
15,817 |
11,484 |
|||
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Goodwill |
373,424 |
373,424 |
373,424 |
|||
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Other Intangible assets, net |
2,450 |
2,656 |
3,173 |
|||
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Other assets |
346,338 |
358,017 |
371,424 |
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Deposits: |
||||||
|
Noninterest-bearing demand |
$2,188,699 |
$2,182,346 |
$2,157,537 |
|||
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Interest-bearing demand |
745,904 |
738,251 |
773,224 |
|||
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Money market |
2,194,702 |
2,236,298 |
2,074,095 |
|||
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Savings |
868,019 |
879,254 |
879,653 |
|||
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Certificates of deposit |
1,924,619 |
1,884,771 |
1,770,332 |
|||
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Borrowings: |
||||||
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Short-term borrowings |
135,000 |
150,000 |
225,000 |
|||
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Long-term borrowings |
50,836 |
50,856 |
64,015 |
|||
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Junior subordinated debt securities |
49,463 |
49,448 |
49,403 |
|||
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|||
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Other liabilities |
184,775 |
193,352 |
214,934 |
|||
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||||||
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Shareholders’ equity / assets |
15.03 % |
14.73 % |
14.35 % |
|||
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Tangible common equity / tangible assets (non-GAAP)(9) |
11.65 % |
11.34 % |
10.86 % |
|||
|
Tier 1 leverage ratio |
12.33 % |
12.18 % |
11.70 % |
|||
|
Common equity tier 1 capital |
14.75 % |
14.59 % |
14.37 % |
|||
|
Risk-based capital – tier 1 |
15.06 % |
14.91 % |
14.70 % |
|||
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Risk-based capital – total |
16.63 % |
16.48 % |
16.28 % |
|||
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Interest-bearing deposits with banks |
$128,236 |
4.43 % |
$120,156 |
4.46 % |
$200,301 |
5.44 % |
|
|
Securities, at fair value |
1,011,624 |
3.80 % |
1,011,629 |
3.79 % |
990,375 |
3.12 % |
|
|
Loans held for sale |
18 |
6.88 % |
— |
0.00 % |
20 |
6.77 % |
|
|
Commercial real estate |
3,564,071 |
5.86 % |
3,477,321 |
5.88 % |
3,298,619 |
5.96 % |
|
|
Commercial and industrial |
1,485,816 |
6.78 % |
1,519,133 |
6.71 % |
1,566,145 |
7.39 % |
|
|
Commercial construction |
379,167 |
6.97 % |
382,363 |
6.94 % |
406,321 |
7.82 % |
|
|
|
|
|
|
|
|
|
|
|
Residential mortgage |
1,688,697 |
5.33 % |
1,674,231 |
5.26 % |
1,589,791 |
5.11 % |
|
|
Home equity |
687,639 |
6.35 % |
670,066 |
6.37 % |
642,384 |
7.01 % |
|
|
Installment and other consumer |
100,551 |
7.85 % |
99,550 |
7.88 % |
103,390 |
8.65 % |
|
|
Consumer construction |
40,612 |
6.73 % |
41,025 |
6.82 % |
62,998 |
6.42 % |
|
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|
|
|
|
|
|
|
|
|
Total Portfolio Loans |
7,946,553 |
6.04 % |
7,863,689 |
6.03 % |
7,669,648 |
6.30 % |
|
|
|
|
|
|
|
|
|
|
|
Total other earning assets |
13,808 |
7.63 % |
16,537 |
7.70 % |
15,413 |
6.21 % |
|
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|
|
|
|
|
|
|
|
|
Noninterest-earning assets |
699,840 |
712,891 |
744,609 |
||||
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|
|
|
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||||
|
|
|||||||
|
Interest-bearing demand |
$742,817 |
0.99 % |
$763,687 |
1.01 % |
$785,854 |
1.11 % |
|
|
Money market |
2,247,331 |
3.06 % |
2,188,771 |
3.04 % |
2,051,754 |
3.40 % |
|
|
Savings |
873,968 |
0.72 % |
880,448 |
0.69 % |
891,952 |
0.75 % |
|
|
Certificates of deposit |
1,915,006 |
3.96 % |
1,872,329 |
4.07 % |
1,825,530 |
4.60 % |
|
|
|
|
|
|
|
|
|
|
|
Short-term borrowings |
73,538 |
4.53 % |
135,659 |
4.63 % |
202,500 |
4.88 % |
|
|
Long-term borrowings |
50,846 |
3.80 % |
50,866 |
3.80 % |
40,383 |
4.47 % |
|
|
Junior subordinated debt securities |
49,454 |
7.08 % |
49,439 |
7.12 % |
49,394 |
8.11 % |
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|
|
Total Other Interest-bearing Liabilities |
28,049 |
4.36 % |
32,202 |
4.39 % |
41,038 |
5.36 % |
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing liabilities |
2,355,972 |
2,315,213 |
2,377,914 |
||||
|
Shareholders’ equity |
1,463,098 |
1,436,288 |
1,354,047 |
||||
|
|
|
|
|
||||
|
|
|
|
|
||||
|
|
|||||||
|
|
|||||||
|
|
|
|
|||||
|
|
|||||||
|
|
|||||||
|
Interest-bearing deposits with banks |
$125,708 |
4.45 % |
$162,957 |
5.54 % |
|||
|
Securities, at fair value |
1,004,633 |
3.73 % |
972,941 |
2.96 % |
|||
|
Loans held for sale |
7 |
6.23 % |
74 |
7.14 % |
|||
|
Commercial real estate |
3,479,614 |
5.85 % |
3,336,689 |
5.95 % |
|||
|
Commercial and industrial |
1,513,214 |
6.73 % |
1,599,528 |
7.37 % |
|||
|
Commercial construction |
378,819 |
6.95 % |
382,177 |
7.78 % |
|||
|
|
|
|
|
|
|||
|
Residential mortgage |
1,674,472 |
5.27 % |
1,532,410 |
5.02 % |
|||
|
Home equity |
670,399 |
6.34 % |
645,055 |
7.01 % |
|||
|
Installment and other consumer |
99,839 |
7.90 % |
106,523 |
8.64 % |
|||
|
Consumer construction |
42,248 |
6.81 % |
68,504 |
5.98 % |
|||
|
|
|
|
|
|
|||
|
Total Portfolio Loans |
7,858,605 |
6.02 % |
7,670,886 |
6.28 % |
|||
|
|
|
|
|
|
|||
|
Total other earning assets |
15,694 |
7.34 % |
20,260 |
6.87 % |
|||
|
|
|
|
|
|
|||
|
Noninterest-earning assets |
713,016 |
746,295 |
|||||
|
|
|
|
|||||
|
|
|||||||
|
Interest-bearing demand |
$761,804 |
1.00 % |
$812,443 |
1.12 % |
|||
|
Money market |
2,175,399 |
3.02 % |
1,970,539 |
3.27 % |
|||
|
Savings |
879,645 |
0.69 % |
915,643 |
0.69 % |
|||
|
Certificates of deposit |
1,882,923 |
4.11 % |
1,746,498 |
4.51 % |
|||
|
|
|
|
|
|
|||
|
Short-term borrowings |
108,811 |
4.61 % |
290,602 |
5.17 % |
|||
|
Long-term borrowings |
50,866 |
3.80 % |
39,571 |
4.51 % |
|||
|
Junior subordinated debt securities |
49,439 |
7.12 % |
49,379 |
8.17 % |
|||
|
|
|
|
|
|
|||
|
Total Other Interest-bearing Liabilities |
34,667 |
4.39 % |
50,303 |
5.40 % |
|||
|
|
|
|
|
|
|||
|
Noninterest-bearing liabilities |
2,340,420 |
2,382,352 |
|||||
|
Shareholders’ equity |
1,433,689 |
1,316,083 |
|||||
|
|
|
|
|||||
|
|
|
|
|||||
|
|
|||||||
|
|
|
|
|||||
|
|
|
|
|||||
|
|
|
|
|
||||
|
|
|||||||
|
Commercial loans: |
|
|
|
||||
|
Commercial real estate |
$27,964 |
0.77 % |
$3,967 |
0.11 % |
$14,877 |
0.45 % |
|
|
Commercial and industrial |
9,826 |
0.67 % |
5,459 |
0.36 % |
5,789 |
0.37 % |
|
|
Commercial construction |
869 |
0.27 % |
869 |
0.22 % |
3,416 |
0.88 % |
|
|
Total Nonaccrual Commercial Loans |
38,659 |
0.71 % |
10,295 |
0.19 % |
24,082 |
0.46 % |
|
|
Consumer loans: |
|||||||
|
Residential mortgage |
7,005 |
0.41 % |
7,239 |
0.43 % |
4,478 |
0.28 % |
|
|
Home equity |
3,790 |
0.54 % |
3,593 |
0.53 % |
3,065 |
0.47 % |
|
|
Installment and other consumer |
164 |
0.16 % |
185 |
0.18 % |
264 |
0.25 % |
|
|
Total Nonaccrual Consumer Loans |
10,959 |
0.43 % |
11,017 |
0.44 % |
7,807 |
0.32 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
||||
|
|
|
|
|
|||
|
|
||||||
|
Charge-offs |
$3,053 |
$1,656 |
$2,440 |
|||
|
Recoveries |
(639) |
(498) |
(303) |
|||
|
|
|
|
|
|||
|
|
||||||
|
Commercial loans: |
||||||
|
Commercial real estate |
$106 |
($16) |
$47 |
|||
|
Commercial and industrial |
2,142 |
331 |
1,255 |
|||
|
Commercial construction |
(9) |
89 |
— |
|||
|
|
|
|
|
|||
|
Consumer loans: |
||||||
|
Residential mortgage |
32 |
13 |
(5) |
|||
|
Home equity |
9 |
160 |
580 |
|||
|
Installment and other consumer |
134 |
581 |
260 |
|||
|
|
|
|
|
|||
|
|
|
|
|
|
|
||||||
|
|
||||||
|
|
|
|
||||
|
|
||||||
|
Charge-offs |
$5,593 |
$10,224 |
||||
|
Recoveries |
(2,048) |
(1,885) |
||||
|
|
|
|
||||
|
|
||||||
|
Commercial loans: |
||||||
|
Commercial real estate |
($56) |
$4,906 |
||||
|
Commercial and industrial |
2,627 |
1,547 |
||||
|
Commercial construction |
110 |
— |
||||
|
Total Commercial Loan Charge-offs |
2,681 |
6,453 |
||||
|
Consumer loans: |
||||||
|
Residential mortgage |
58 |
35 |
||||
|
Home equity |
188 |
959 |
||||
|
Installment and other consumer |
618 |
892 |
||||
|
Total Consumer Loan Charge-offs |
864 |
1,886 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
|
|
|
||||
|
|
|
|
|
|||
|
|
||||||
|
Nonaccrual loans |
$49,618 |
$21,312 |
$31,889 |
|||
|
OREO |
8 |
— |
— |
|||
|
Total nonperforming assets |
49,626 |
21,312 |
31,889 |
|||
|
Nonaccrual loans / total loans |
0.62 % |
0.27 % |
0.41 % |
|||
|
Nonperforming assets / total loans plus OREO |
0.62 % |
0.27 % |
0.41 % |
|||
|
Allowance for credit losses / total portfolio loans |
1.23 % |
1.24 % |
1.36 % |
|||
|
Allowance for credit losses / nonaccrual loans |
198 % |
463 % |
327 % |
|||
|
Net loan charge-offs |
$2,414 |
$1,158 |
$2,138 |
|||
|
Net loan charge-offs (annualized) / average loans |
0.12 % |
0.06 % |
0.11 % |
|
|
||||||
|
|
|
|
||||
|
|
||||||
|
Net loan charge-offs |
$3,545 |
$8,339 |
||||
|
Net loan charge-offs (annualized) / average loans |
0.06 % |
0.15 % |
||||
|
|
|||||||
|
|
|||||||
|
|
|
|
|||||
|
|
|
|
|||||
|
|
|
|
|
||||
|
|
|||||||
|
Total shareholders’ equity |
$1,475,466 |
$1,445,493 |
$1,375,754 |
||||
|
Less: goodwill and other intangible assets, net of deferred tax |
(375,359) |
(375,522) |
(375,931) |
||||
|
Tangible common equity (non-GAAP) |
$1,100,107 |
$1,069,971 |
$999,823 |
||||
|
Common shares outstanding |
38,350,500 |
38,345,448 |
38,259,730 |
||||
|
Tangible book value (non-GAAP) |
$28.69 |
$27.90 |
$26.13 |
||||
|
|
|||||||
|
|
|||||||
|
Net income (annualized) |
$138,708 |
$127,951 |
$129,652 |
||||
|
Plus: amortization of intangibles (annualized), net of tax |
649 |
653 |
893 |
||||
|
Net income before amortization of intangibles (annualized) |
$139,357 |
$128,604 |
$130,545 |
||||
|
Average total shareholders’ equity |
$1,463,098 |
$1,436,288 |
$1,354,047 |
||||
|
Less: average goodwill and other intangible assets, net of deferred |
(375,446) |
(375,572) |
(376,048) |
||||
|
Average tangible equity (non-GAAP) |
$1,087,652 |
$1,060,716 |
$977,999 |
||||
|
Return on average tangible shareholders’ equity (non-GAAP) |
12.81 % |
12.12 % |
13.35 % |
||||
|
|
|||||||
|
|
|||||||
|
Income before taxes |
$43,836 |
$39,984 |
$41,443 |
||||
|
Plus: net loss on sale of securities |
— |
— |
2,199 |
||||
|
Less: gain on Visa Class B-1 exchange |
— |
— |
(150) |
||||
|
Plus: Provision for credit losses |
2,792 |
1,974 |
(454) |
||||
|
Total |
$46,628 |
$41,958 |
$43,038 |
||||
|
Total (annualized) (non-GAAP) |
$184,992 |
$168,293 |
$171,216 |
||||
|
Average assets |
$9,800,079 |
$9,724,902 |
$9,620,366 |
||||
|
Pre-provision Net Revenue / Average Assets (non-GAAP) |
1.89 % |
1.73 % |
1.78 % |
||||
|
|
|||||||
|
|
|||||||
|
Noninterest expense |
$56,376 |
$58,114 |
$55,365 |
||||
|
Net interest income per consolidated statements of net income |
$89,241 |
$86,572 |
$84,477 |
||||
|
Plus: taxable equivalent adjustment |
602 |
590 |
671 |
||||
|
Net interest income (FTE) (non-GAAP) |
89,843 |
87,162 |
85,148 |
||||
|
Noninterest income |
13,763 |
13,500 |
11,877 |
||||
|
Plus: net loss on sale of securities |
— |
— |
2,199 |
||||
|
Less: gain on Visa Class B-1 exchange |
— |
— |
(150) |
||||
|
Net interest income (FTE) (non-GAAP) plus noninterest income |
$103,606 |
$100,662 |
$99,074 |
||||
|
Efficiency ratio (FTE) (non-GAAP) |
54.41 % |
57.73 % |
55.88 % |
||||
|
|
|||||||
|
|
|||||||
|
|
|||||||
|
|
|
|
|||||
|
|
|||||||
|
Net income (annualized) |
$134,051 |
$131,172 |
|||||
|
Plus: amortization of intangibles (annualized), net of tax |
690 |
919 |
|||||
|
Net income before amortization of intangibles (annualized) |
$134,741 |
$132,091 |
|||||
|
Average total shareholders’ equity |
$1,433,689 |
$1,316,083 |
|||||
|
Less: average goodwill and other intangible assets, net of deferred |
(375,585) |
(376,283) |
|||||
|
Average tangible equity (non-GAAP) |
$1,058,104 |
$939,800 |
|||||
|
Return on average tangible shareholders’ equity (non-GAAP) |
12.73 % |
14.06 % |
|||||
|
|
|||||||
|
|
|||||||
|
Income before taxes |
$125,521 |
$123,472 |
|||||
|
Plus: net losses on sale of securities |
2,295 |
5,346 |
|||||
|
Less: gain on Visa Class B-1 exchange |
— |
(3,306) |
|||||
|
Plus: Provision for credit losses |
1,726 |
2,595 |
|||||
|
Total |
$129,542 |
$128,107 |
|||||
|
Total (annualized) (non-GAAP) |
$173,197 |
$171,121 |
|||||
|
Average assets |
$9,717,663 |
$9,573,413 |
|||||
|
Pre-provision Net Revenue / Average Assets (non-GAAP) |
1.78 % |
1.79 % |
|||||
|
|
|||||||
|
|
|||||||
|
Noninterest expense |
$169,581 |
$163,493 |
|||||
|
Net interest income per consolidated statements of net income |
$259,136 |
$251,548 |
|||||
|
Plus: taxable equivalent adjustment |
1,810 |
2,045 |
|||||
|
Net interest income (FTE) (non-GAAP) |
260,946 |
253,593 |
|||||
|
Noninterest income |
37,692 |
38,012 |
|||||
|
Plus: net losses on sale of securities |
2,295 |
5,346 |
|||||
|
Less: gain on Visa Class B-1 exchange |
— |
(3,306) |
|||||
|
Net interest income (FTE) (non-GAAP) plus noninterest income |
$300,933 |
$293,645 |
|||||
|
Efficiency ratio (FTE) (non-GAAP) |
56.35 % |
55.68 % |
|||||
|
|
|||||||
|
|
|||||||
|
Interest income and dividend income |
$385,377 |
$387,993 |
|||||
|
Less: interest expense |
(126,241) |
(136,445) |
|||||
|
Net interest income per consolidated statements of net income |
259,136 |
251,548 |
|||||
|
Plus: taxable equivalent adjustment |
1,810 |
2,045 |
|||||
|
Net interest income (FTE) (non-GAAP) |
$260,946 |
$253,593 |
|||||
|
Net interest income (FTE) (annualized) |
$348,884 |
$338,741 |
|||||
|
Average interest-earning assets |
$9,004,647 |
$8,827,118 |
|||||
|
Net interest margin – (FTE) (non-GAAP) |
3.87 % |
3.84 % |
|||||
|
|
|||||||
|
|
|||||||
|
|
|||||||
|
|
|
|
|||||
|
|
|
|
|||||
|
|
|
|
|
||||
|
|
|||||||
|
Total shareholders’ equity |
$1,475,466 |
$1,445,493 |
$1,375,754 |
||||
|
Less: goodwill and other intangible assets, net of deferred tax |
(375,359) |
(375,522) |
(375,931) |
||||
|
Tangible common equity (non-GAAP) |
$1,100,107 |
$1,069,971 |
$999,823 |
||||
|
Total assets |
$9,817,483 |
$9,810,069 |
$9,583,947 |
||||
|
Less: goodwill and other intangible assets, net of deferred tax |
(375,359) |
(375,522) |
(375,931) |
||||
|
Tangible assets (non-GAAP) |
$9,442,124 |
$9,434,547 |
$9,208,016 |
||||
|
Tangible common equity to tangible assets (non-GAAP) |
11.65 % |
11.34 % |
10.86 % |
||||
|
|
|||||||
|
|
|||||||
|
Interest income and dividend income |
$131,623 |
$128,906 |
$131,474 |
||||
|
Less: interest expense |
(42,382) |
(42,334) |
(46,997) |
||||
|
Net interest income per consolidated statements of net income |
89,241 |
86,572 |
84,477 |
||||
|
Plus: taxable equivalent adjustment |
602 |
590 |
671 |
||||
|
Net interest income (FTE) (non-GAAP) |
$89,843 |
$87,162 |
$85,148 |
||||
|
Net interest income (FTE) (annualized) |
$356,442 |
$349,606 |
$338,741 |
||||
|
Average interest-earning assets |
$9,100,239 |
$9,012,011 |
$8,875,757 |
||||
|
Net interest margin (FTE) (non-GAAP) |
3.93 % |
3.88 % |
3.82 % |
||||
|
|
|||||||
View original content to download multimedia:https://www.prnewswire.com/news-releases/st-bancorp-inc-announces-third-quarter-2025-results-302591927.html
SOURCE S&T Bancorp, Inc.
