INVESTOR CONTACT:
Mark Kochvar
S&T Bancorp, Inc.
Chief Financial Officer
724.465.4826
mark.kochvar@stbank.com
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FOR IMMEDIATE RELEASE
S&T Bancorp, Inc. Announces Third Quarter 2025 Results
INDIANA, Pa., - October 23, 2025 – 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.
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S&T Earnings Release - 2

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
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S&T Earnings Release - 3

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
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S&T Earnings Release - 4

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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S&T Bancorp, Inc.
Consolidated Selected Financial Data
Unaudited
S&T Earnings Release - 5
202520252024
ThirdSecondThird
(dollars in thousands, except per share data)QuarterQuarterQuarter
INTEREST AND DIVIDEND INCOME
Loans, including fees$120,321 $117,696 $120,907 
Investment Securities:
Taxable10,994 10,846 10,221 
Tax-exempt34 35 165 
Dividends274 329 181 
Total Interest and Dividend Income131,623 128,906 131,474 
INTEREST EXPENSE
Deposits39,864 39,056 42,493 
Borrowings, junior subordinated debt securities and other2,518 3,278 4,504 
Total Interest Expense42,382 42,334 46,997 
NET INTEREST INCOME89,241 86,572 84,477 
Provision for credit losses2,792 1,974 (454)
Net Interest Income After Provision for Credit Losses86,449 84,598 84,931 
NONINTEREST INCOME
Loss on sale of securities— — (2,199)
Debit and credit card4,722 4,588 4,688 
Service charges on deposit accounts4,175 4,090 4,181 
Wealth management3,118 3,042 3,071 
Other1,748 1,780 2,136 
Total Noninterest Income13,763 13,500 11,877 
NONINTEREST EXPENSE
Salaries and employee benefits32,180 32,907 31,274 
Data processing and information technology4,901 4,847 5,003 
Occupancy4,014 4,024 3,828 
Furniture, equipment and software3,225 3,352 3,410 
Other taxes2,088 2,088 1,874 
Marketing1,255 1,490 1,382 
Professional services and legal1,199 1,739 1,229 
FDIC insurance1,071 1,062 1,054 
Other noninterest expense6,443 6,605 6,311 
Total Noninterest Expense56,376 58,114 55,365 
Income Before Taxes43,836 39,984 41,443 
Income tax expense8,874 8,084 8,853 
Net Income$34,962 $31,900 $32,590 
Per Share Data
Shares outstanding at end of period38,350,500 38,345,448 38,259,730 
Average shares outstanding - diluted38,595,118 38,637,400 38,560,409 
Diluted earnings per share$0.91 $0.83 $0.85 
Dividends declared per share$0.34 $0.34 $0.33 
Dividend yield (annualized)3.62%3.60%3.15%
Dividends paid to net income37.35%41.30%38.77%
Book value$38.47 $37.70 $35.96 
Tangible book value (non-GAAP) (1)
$28.69 $27.90 $26.13 
Market value$37.59 $37.82 $41.97 
Profitability Ratios (Annualized)
Return on average assets1.42%1.32%1.35%
Return on average shareholders' equity9.48%8.91%9.58%
Return on average tangible shareholders' equity (non-GAAP)(2)
12.81%12.12%13.35%
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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S&T Bancorp, Inc.
Consolidated Selected Financial Data
Unaudited
S&T Earnings Release - 6
Nine Months Ended September 30,
(dollars in thousands, except per share data)20252024
INTEREST AND DIVIDEND INCOME
Loans, including fees$352,357 $359,048 
Investment Securities:
Taxable31,913 27,577 
Tax-exempt226 526 
Dividends881 842 
Total Interest and Dividend Income385,377 387,993 
INTEREST EXPENSE
Deposits117,274 118,784 
Borrowings, junior subordinated debt securities and other8,967 17,661 
Total Interest Expense126,241 136,445 
NET INTEREST INCOME259,136 251,548 
Provision for credit losses1,726 2,595 
Net Interest Income After Provision for Credit Losses257,410 248,953 
NONINTEREST INCOME
Loss on sale of securities
(2,295)(5,346)
Debit and credit card13,498 13,636 
Service charges on deposit accounts12,227 12,098 
Wealth management9,244 9,108 
Other5,018 8,516 
Total Noninterest Income37,692 38,012 
NONINTEREST EXPENSE
Salaries and employee benefits94,940 91,174 
Data processing and information technology14,678 14,172 
Occupancy12,340 11,347 
Furniture, equipment and software10,060 10,264 
Other Taxes5,670 5,178 
Marketing4,360 4,729 
Professional services and legal4,224 4,352 
FDIC insurance3,173 3,156 
Other noninterest expense20,136 19,121 
Total Noninterest Expense169,581 163,493 
Income Before Taxes125,521 123,472 
Income tax expense25,258 25,272 
Net Income$100,263 $98,200 
Per Share Data
Average shares outstanding - diluted38,611,041 38,566,858 
Diluted earnings per share$2.60 $2.55 
Dividends declared per share$1.02 $0.99 
Dividends paid to net income39.15%38.66%
Profitability Ratios (annualized)
Return on average assets1.38%1.37%
Return on average shareholders' equity9.35%9.97%
Return on average tangible shareholders' equity (non-GAAP)(5)
12.73%14.06%
Pre-provision net revenue / average assets (non-GAAP)(6)
1.78%1.79%
Efficiency ratio (FTE) (non-GAAP)(7)
56.35%55.68%
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S&T Bancorp, Inc.
Consolidated Selected Financial Data
Unaudited
S&T Earnings Release - 7
202520252024
ThirdSecondThird
(dollars in thousands)QuarterQuarterQuarter
ASSETS
Cash and due from banks$196,228 $203,118 $228,090 
Securities available for sale, at fair value1,001,149 1,021,183 1,011,312 
Loans held for sale— — 307 
Commercial loans:
Commercial real estate3,653,790 3,520,294 3,327,895 
Commercial and industrial1,466,075 1,512,027 1,548,172 
Commercial construction320,190 397,785 386,509 
Total Commercial Loans5,440,055 5,430,106 5,262,576 
Consumer loans:
Residential mortgage1,700,636 1,678,992 1,612,629 
Home equity698,886 681,143 645,966 
Installment and other consumer102,600 100,177 105,235 
Consumer construction38,830 44,016 62,648 
Total Consumer Loans2,540,952 2,504,328 2,426,478 
Total Portfolio Loans7,981,007 7,934,434 7,689,054 
Allowance for credit losses(98,155)(98,580)(104,321)
Total Portfolio Loans, Net7,882,852 7,835,854 7,584,733 
Federal Home Loan Bank and other restricted stock, at cost15,042 15,817 11,484 
Goodwill373,424 373,424 373,424 
Other Intangible assets, net2,450 2,656 3,173 
Other assets346,338 358,017 371,424 
Total Assets$9,817,483 $9,810,069 $9,583,947 
LIABILITIES
Deposits:
Noninterest-bearing demand$2,188,699 $2,182,346 $2,157,537 
Interest-bearing demand745,904 738,251 773,224 
Money market2,194,702 2,236,298 2,074,095 
Savings868,019 879,254 879,653 
Certificates of deposit1,924,619 1,884,771 1,770,332 
Total Deposits7,921,943 7,920,920 7,654,841 
Borrowings:
Short-term borrowings135,000 150,000 225,000 
Long-term borrowings50,836 50,856 64,015 
Junior subordinated debt securities49,463 49,448 49,403 
Total Borrowings235,299 250,304 338,418 
Other liabilities184,775 193,352 214,934 
Total Liabilities8,342,017 8,364,576 8,208,193 
SHAREHOLDERS’ EQUITY
Total Shareholders’ Equity1,475,466 1,445,493 1,375,754 
Total Liabilities and Shareholders’ Equity$9,817,483 $9,810,069 $9,583,947 
Capitalization Ratios
Shareholders' equity / assets15.03%14.73%14.35%
Tangible common equity / tangible assets (non-GAAP)(9)
11.65%11.34%10.86%
Tier 1 leverage ratio12.33%12.18%11.70%
Common equity tier 1 capital14.75%14.59%14.37%
Risk-based capital - tier 115.06%14.91%14.70%
Risk-based capital - total16.63%16.48%16.28%
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S&T Bancorp, Inc.
Consolidated Selected Financial Data
Unaudited
S&T Earnings Release - 8

202520252024
ThirdSecondThird
(dollars in thousands)QuarterQuarterQuarter
Net Interest Margin (FTE) (non-GAAP) (QTD Averages)
ASSETS
Interest-bearing deposits with banks$128,2364.43%$120,1564.46%$200,3015.44%
Securities, at fair value1,011,6243.80%1,011,6293.79%990,3753.12%
Loans held for sale186.88%— 0.00%206.77%
Commercial real estate3,564,0715.86%3,477,3215.88%3,298,6195.96%
Commercial and industrial1,485,8166.78%1,519,1336.71%1,566,1457.39%
Commercial construction379,1676.97%382,3636.94%406,3217.82%
Total Commercial Loans5,429,0546.19%5,378,8176.19%5,271,0856.53%
Residential mortgage1,688,6975.33%1,674,2315.26%1,589,7915.11%
Home equity687,6396.35%670,0666.37%642,3847.01%
Installment and other consumer100,5517.85%99,5507.88%103,3908.65%
Consumer construction40,6126.73%41,0256.82%62,9986.42%
Total Consumer Loans2,517,4995.73%2,484,8725.69%2,398,5635.81%
Total Portfolio Loans7,946,5536.04%7,863,6896.03%7,669,6486.30%
Total Loans7,946,5716.04%7,863,6896.03%7,669,6686.30%
Total other earning assets13,8087.63%16,5377.70%15,4136.21%
Total Interest-earning Assets9,100,2395.77%9,012,0115.76%8,875,7575.93%
Noninterest-earning assets699,840712,891744,609
Total Assets$9,800,079$9,724,902$9,620,366
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing demand$742,8170.99%$763,6871.01%$785,8541.11%
Money market2,247,3313.06%2,188,7713.04%2,051,7543.40%
Savings873,9680.72%880,4480.69%891,9520.75%
Certificates of deposit1,915,0063.96%1,872,3294.07%1,825,5304.60%
Total Interest-bearing Deposits5,779,1222.74%5,705,2352.75%5,555,0903.04%
Short-term borrowings73,5384.53%135,6594.63%202,5004.88%
Long-term borrowings50,8463.80%50,8663.80%40,3834.47%
Junior subordinated debt securities49,4547.08%49,4397.12%49,3948.11%
Total Borrowings173,8385.04%235,9644.97%292,2775.37%
Total Other Interest-bearing Liabilities28,049 4.36%32,2024.39%41,038 5.36%
Total Interest-bearing Liabilities5,981,0092.81%5,973,4012.84%5,888,4053.17%
Noninterest-bearing liabilities2,355,9722,315,2132,377,914
Shareholders' equity1,463,0981,436,2881,354,047
Total Liabilities and Shareholders' Equity$9,800,079$9,724,902$9,620,366
Net Interest Margin (FTE) (non-GAAP)(10)
3.93%3.88%3.82%
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S&T Bancorp, Inc.
Consolidated Selected Financial Data
Unaudited
S&T Earnings Release - 9
Nine Months Ended September 30,
(dollars in thousands)20252024
Net Interest Margin (FTE) (non-GAAP) (YTD Averages)
ASSETS
Interest-bearing deposits with banks$125,7084.45%$162,9575.54%
Securities, at fair value1,004,6333.73%972,9412.96%
Loans held for sale76.23%747.14%
Commercial real estate3,479,6145.85%3,336,6895.95%
Commercial and industrial1,513,2146.73%1,599,5287.37%
Commercial construction378,8196.95%382,1777.78%
Total Commercial Loans5,371,6476.18%5,318,3946.51%
Residential mortgage1,674,4725.27%1,532,4105.02%
Home equity670,3996.34%645,0557.01%
Installment and other consumer99,8397.90%106,5238.64%
Consumer construction42,2486.81%68,5045.98%
Total Consumer Loans2,486,9585.69%2,352,4925.75%
Total Portfolio Loans7,858,6056.02%7,670,8866.28%
Total Loans7,858,6126.02%7,670,9606.28%
Total other earning assets15,6947.34%20,2606.87%
Total Interest-earning Assets9,004,6475.75%8,827,1185.90%
Noninterest-earning assets713,016746,295
Total Assets$9,717,663$9,573,413
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing demand$761,8041.00%$812,4431.12%
Money market2,175,3993.02%1,970,5393.27%
Savings879,6450.69%915,6430.69%
Certificates of deposit1,882,9234.11%1,746,4984.51%
Total Interest-bearing deposits5,699,7712.75%5,445,1232.91%
Short-term borrowings108,8114.61%290,6025.17%
Long-term borrowings50,8663.80%39,5714.51%
Junior subordinated debt securities49,4397.12%49,3798.17%
Total Borrowings209,1165.01%379,5525.49%
Total Other Interest-bearing Liabilities34,6674.39%50,3035.40%
Total Interest-bearing Liabilities5,943,5542.84%5,874,9783.10%
Noninterest-bearing liabilities2,340,4202,382,352
Shareholders' equity1,433,6891,316,083
Total Liabilities and Shareholders' Equity$9,717,663$9,573,413
Net Interest Margin (FTE) (non-GAAP)(8)
3.87%3.84%
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S&T Bancorp, Inc.
Consolidated Selected Financial Data
Unaudited
S&T Earnings Release - 10
202520252024
ThirdSecondThird
(dollars in thousands)QuarterQuarterQuarter
Nonaccrual Loans
Commercial loans:% Loans% Loans% Loans
Commercial real estate$27,964 0.77%$3,967 0.11%$14,877 0.45%
Commercial and industrial9,826 0.67%5,459 0.36%5,789 0.37%
Commercial construction869 0.27%869 0.22%3,416 0.88%
Total Nonaccrual Commercial Loans38,659 0.71%10,295 0.19%24,082 0.46%
Consumer loans:
Residential mortgage7,005 0.41%7,239 0.43%4,478 0.28%
Home equity3,790 0.54%3,593 0.53%3,065 0.47%
Installment and other consumer164 0.16%185 0.18%264 0.25%
Total Nonaccrual Consumer Loans10,959 0.43%11,017 0.44%7,807 0.32%
Total Nonaccrual Loans$49,618 0.62%$21,312 0.27%$31,889 0.41%
202520252024
ThirdSecondThird
(dollars in thousands)QuarterQuarterQuarter
Loan Charge-offs (Recoveries)
Charge-offs$3,053 $1,656 $2,440 
Recoveries(639)(498)(303)
Net Loan Charge-offs$2,414 $1,158 $2,137 
Net Loan Charge-offs (Recoveries)
Commercial loans:
Commercial real estate$106 ($16)$47 
Commercial and industrial2,142 331 1,255 
Commercial construction(9)89 — 
Total Commercial Loan Charge-offs2,239 404 1,302 
Consumer loans:
Residential mortgage32 13 (5)
Home equity9 160 580 
Installment and other consumer134 581 260 
Total Consumer Loan Charge-offs175 754 835 
Total Net Loan Charge-offs$2,414 $1,158 $2,137 
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S&T Bancorp, Inc.
Consolidated Selected Financial Data
Unaudited
S&T Earnings Release - 11
Nine Months Ended September 30,
(dollars in thousands)20252024
Loan Charge-offs (Recoveries)
Charge-offs$5,593 $10,224 
Recoveries(2,048)(1,885)
Net Loan Charge-offs$3,545$8,339
Net Loan Charge-offs (Recoveries)
Commercial loans:
Commercial real estate($56)$4,906
Commercial and industrial2,6271,547
Commercial construction110 — 
Total Commercial Loan Charge-offs2,6816,453
Consumer loans:
Residential mortgage5835
Home equity188959
Installment and other consumer618892
Total Consumer Loan Charge-offs8641,886
Total Net Loan Charge-offs$3,545$8,339
202520252024
ThirdSecondThird
(dollars in thousands)QuarterQuarterQuarter
Asset Quality Data
Nonaccrual loans$49,618 $21,312 $31,889 
OREO8 — — 
Total nonperforming assets49,626 21,312 31,889 
Nonaccrual loans / total loans0.62%0.27%0.41%
Nonperforming assets / total loans plus OREO0.62%0.27%0.41%
Allowance for credit losses / total portfolio loans1.23%1.24%1.36%
Allowance for credit losses / nonaccrual loans198%463%327%
Net loan charge-offs$2,414 $1,158 $2,138 
Net loan charge-offs (annualized) / average loans0.12%0.06%0.11%
Nine Months Ended September 30,
(dollars in thousands)20252024
Asset Quality Data
Net loan charge-offs$3,545 $8,339 
Net loan charge-offs (annualized) / average loans0.06%0.15%
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S&T Bancorp, Inc.
Consolidated Selected Financial Data
Unaudited
S&T Earnings Release - 12
Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures:
202520252024
ThirdSecondThird
(dollars in thousands, except per share data)QuarterQuarterQuarter
(1) Tangible Book Value (non-GAAP)
Total shareholders' equity$1,475,466 $1,445,493 $1,375,754 
Less: goodwill and other intangible assets, net of deferred tax liability(375,359)(375,522)(375,931)
Tangible common equity (non-GAAP)$1,100,107 $1,069,971 $999,823 
Common shares outstanding38,350,500 38,345,448 38,259,730 
Tangible book value (non-GAAP)$28.69 $27.90 $26.13 
Tangible book value is a preferred industry metric used to measure our company's value and commonly used by investors and analysts.
(2) Return on Average Tangible Shareholders' Equity (non-GAAP)
Net income (annualized)$138,708 $127,951 $129,652 
Plus: amortization of intangibles (annualized), net of tax649 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 tax liability(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%
Return on average tangible shareholders' equity is a preferred industry profitability metric used by management, as well as investors and analysts, to measure financial performance.
(3) Pre-provision Net Revenue / Average Assets (non-GAAP)
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 losses2,792 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%
Pre-provision net revenue to average assets is income before taxes adjusted to exclude provision for credit losses, losses (gains) on sale of securities and gain on Visa exchange. We believe this to be a preferred industry measurement to help management, as well as investors and analysts, evaluate our ability to fund credit losses or build capital.
(4) Efficiency Ratio (FTE) (non-GAAP)
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 adjustment602 590 671 
Net interest income (FTE) (non-GAAP)89,843 87,162 85,148 
Noninterest income13,763 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%
The efficiency ratio is noninterest expense divided by noninterest income plus net interest income, on an FTE basis (non-GAAP), adjusted to exclude losses (gains) on sale of securities and gain on Visa exchange. We believe the FTE basis ensures comparability of net interest income arising from both taxable and tax-exempt sources and is consistent with industry practice.
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S&T Bancorp, Inc.
Consolidated Selected Financial Data
Unaudited
S&T Earnings Release - 13
Nine Months Ended September 30,
(dollars in thousands)20252024
(5) Return on Average Tangible Shareholders' Equity (non-GAAP)
Net income (annualized)$134,051 $131,172 
Plus: amortization of intangibles (annualized), net of tax690 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 tax liability(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%
Return on average tangible shareholders' equity is a preferred industry profitability metric used by management, as well as investors and analysts, to measure financial performance.
(6) Pre-provision Net Revenue / Average Assets (non-GAAP)
Income before taxes$125,521 $123,472 
Plus: net losses on sale of securities2,295 5,346 
Less: gain on Visa Class B-1 exchange
— (3,306)
Plus: Provision for credit losses1,726 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%
Pre-provision net revenue to average assets is income before taxes adjusted to exclude provision for credit losses, losses (gains) on sale of securities and gain on Visa exchange. We believe this to be a preferred industry measurement, to help management, as well as investors and analysts, evaluate our ability to fund credit losses or build capital.
(7) Efficiency Ratio (FTE) (non-GAAP)
Noninterest expense$169,581 $163,493 
Net interest income per consolidated statements of net income$259,136 $251,548 
Plus: taxable equivalent adjustment1,810 2,045 
Net interest income (FTE) (non-GAAP)260,946 253,593 
Noninterest income37,692 38,012 
Plus: net losses on sale of securities2,295 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%
The efficiency ratio is noninterest expense divided by noninterest income plus net interest income, on an FTE basis (non-GAAP), adjusted to exclude losses (gains) on sale of securities and gain on Visa exchange. We believe the FTE basis ensures comparability of net interest income arising from both taxable and tax-exempt sources and is consistent with industry practice.
(8) Net Interest Margin (FTE) (non-GAAP)
Interest income and dividend income$385,377 $387,993 
Less: interest expense(126,241)(136,445)
Net interest income per consolidated statements of net income259,136 251,548 
Plus: taxable equivalent adjustment1,810 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%
The interest income on interest-earning assets, net interest income and net interest margin are presented on an FTE basis (non-GAAP). The FTE basis (non-GAAP) adjusts for the tax benefit of income on certain tax-exempt loans and securities and the dividend-received deduction for equity securities using the federal statutory tax rate of 21 percent for each period. We believe this to be the preferred industry measurement of net interest income that provides a relevant comparison between taxable and non-taxable sources of interest income.



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S&T Bancorp, Inc.
Consolidated Selected Financial Data
Unaudited
S&T Earnings Release - 14
Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures:
202520252024
ThirdSecondThird
(dollars in thousands)QuarterQuarterQuarter
(9) Tangible Common Equity / Tangible Assets (non-GAAP)
Total shareholders' equity$1,475,466 $1,445,493 $1,375,754 
Less: goodwill and other intangible assets, net of deferred tax liability(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 liability(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%
Tangible common equity to tangible assets is a preferred industry measurement to evaluate capital adequacy.
(10) Net Interest Margin (FTE) (non-GAAP)
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 income89,241 86,572 84,477 
Plus: taxable equivalent adjustment602 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%
The interest income on interest-earning assets, net interest income and net interest margin are presented on an FTE basis (non-GAAP). The FTE basis (non-GAAP) adjusts for the tax benefit of income on certain tax-exempt loans and securities and the dividend-received deduction for equity securities using the federal statutory tax rate of 21 percent for each period. We believe this to be the preferred industry measurement of net interest income that provides a relevant comparison between taxable and non-taxable sources of interest income.
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