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S&T Bancorp Inc

S&T Bancorp, Inc. Announces Fourth Quarter and Full Year 2025 Results

INDIANA, Pa., Jan. 22, 2026 /PRNewswire/ -- S&T Bancorp, Inc. (S&T) (NASDAQ: STBA), the holding company for S&T Bank, announced fourth quarter and full year 2025 earnings. Net income of $34.0 million, or $0.89 per diluted share, for the fourth quarter of 2025 compared to net income of $35.0 million, or $0.91 per diluted share, for the third quarter of 2025 and net income of $33.1 million, or $0.86 per diluted share, for the fourth quarter of 2024.

Net income was $134.2 million for the full year 2025 compared to net income of $131.3 million for 2024. Earnings per diluted share (EPS) was $3.49 for 2025 compared to $3.41 in 2024.

Fourth  Quarter of 2025 Highlights:

  • Strong return metrics with return on average assets (ROA) of 1.37%, return on average equity (ROE) of 9.13% and return on average tangible equity (ROTE) (non-GAAP) of 12.30% compared to ROA of 1.42%, ROE of 9.48% and ROTE (non-GAAP) of 12.81% for the third quarter of 2025.
  • Pre-provision net revenue to average assets (PPNR) (non-GAAP) was 1.95% compared to 1.89% for the third quarter of 2025.
  • Net interest income growth of $1.8 million, or 1.93%, and net interest margin on a fully taxable equivalent basis (NIM) (FTE) (non-GAAP) expansion of 6 basis points to 3.99% compared to 3.93% in the third quarter of 2025.
  • Total portfolio loans increased $91.0 million, or 4.52% annualized, compared to September 30, 2025.
  • Total deposits increased $36.9 million, or 1.85% annualized, with $56.9 million of customer deposit growth, or 2.92% annualized, offset by lower brokered deposits of $20.0 million compared to September 30, 2025.
  • Higher net charge-offs of $11.0 million, or 0.54% of average loans, compared to net charge-offs of $2.4 million, or 0.12% of average loans, in the third quarter of 2025, primarily related to nonperforming asset (NPA) resolutions.
  • NPAs of $55.6 million, or 0.69% of total loans plus other real estate owned (OREO) compared to $49.6 million, or 0.62%, at September 30, 2025.

Full Year 2025 Highlights:

  • Net income was $134.2 million compared to $131.3 million for 2024 and EPS was $3.49 per diluted share compared to $3.41 in 2024.
  • Strong return metrics with ROA of 1.38%, ROE of 9.29% and ROTE (non-GAAP) of 12.62% compared to ROA of 1.37%, ROE of 9.86% and ROTE (non-GAAP) of 13.84% for the prior year.
  • PPNR (non-GAAP) was 1.82% compared to 1.77% in the prior year.
  • Net interest income growth of $15.3 million, or 4.57%, and NIM (FTE) (non-GAAP) expansion of 8 basis points to 3.90% compared to 3.82% in the prior year.
  • Total portfolio loans increased $329.0 million, or 4.25%, compared to December 31, 2024.
  • Total deposits increased $175.7 million compared to December 31, 2024. Customer deposit growth of $220.5 million, or 2.92%, was offset by lower brokered deposits of $44.8 million.
  • Net charge-offs were $14.5 million, or 0.18% of average loans, compared to net charge-offs of $8.3 million, or 0.11% of average loans, in the prior year.
  • NPAs were $55.6 million, or 0.69% of total loans plus OREO, compared to $27.9 million, or 0.36%, at December 31, 2024.

"I'm extremely proud of the strong performance we delivered in the fourth quarter and across 2025. These results reflect disciplined execution of our strategy, continued momentum on our key business drivers and strong core profitability," said Chris McComish, chief executive officer. "As we move into 2026, we remain focused on our people-forward approach and purpose-driven culture to enable sustainable growth, deliver value to our shareholders and serve our customers and communities with the integrity and commitment that defines S&T."

Fourth  Quarter of 2025 Results (three months ended December 31, 2025)

Net Interest Income

Net interest income increased $1.8 million, or 1.93%, to $91.0 million in the fourth quarter of 2025 compared to $89.2 million in the third quarter of 2025. NIM (FTE) (non-GAAP) expanded 6 basis points to 3.99% compared to 3.93% in the prior quarter. The yield on average total interest-earning assets decreased 3 basis points to 5.74% compared to 5.77% in the third quarter of 2025. Total interest-bearing liability costs decreased 15 basis points to 2.66% compared to 2.81% in the third quarter of 2025 due to a decrease in interest rates.

Asset Quality

The allowance for credit losses, or ACL, was $93.2 million, or 1.15% of total portfolio loans, at December 31, 2025 compared to $98.2 million, or 1.23%, at September 30, 2025. The decrease in the ACL was mainly due to a reduction in criticized and classified assets of $30.4 million and a decrease in specific reserves of $1.1 million compared to September 30, 2025. Net loan charge-offs were $11.0 million, or 0.54% of average loans, compared to net loan charge-offs of $2.4 million, or 0.12% of average loans, in the third quarter of 2025. The increase in net loan charge-offs was primarily related to the resolution of NPAs during the fourth quarter. The provision for credit losses was $5.7 million for the fourth quarter of 2025 compared to $2.8 million in the third quarter of 2025. The provision for credit losses was higher due to an increase in net loan charge-offs offset by a lower level of ACL. NPAs increased $6.0 million to $55.6 million, or 0.69% of total loans plus OREO, compared to $49.6 million, or 0.62%, at September 30, 2025. Total NPAs remain at a manageable level.

Noninterest Income and Expense

Noninterest income increased $0.5 million to $14.3 million in the fourth quarter of 2025 compared to $13.8 million in the third quarter of 2025. Total noninterest expense increased $0.8 million to $57.2 million compared to $56.4 million in the third quarter of 2025. Salaries and employee benefits increased $0.5 million primarily related to higher salaries and medical costs compared to the third quarter of 2025. Marketing increased $0.3 million due to the timing of various marketing promotions.

Financial Condition

Total assets were $9.9 billion at December 31, 2025, an increase of $53.5 million from $9.8 billion at September 30, 2025. Total portfolio loans increased $91.0 million, or 4.52% annualized, compared to September 30, 2025. The commercial loan portfolio increased $86.2 million due to increases in commercial construction of $59.9 million and commercial and industrial of $53.3 million offset by a decline in commercial real estate of $27.0 million compared to September 30, 2025. The consumer loan portfolio increased $4.8 million primarily as a result of growth in residential mortgage of $9.7 million and home equity of $9.1 million partially offset by decreases in installment and other consumer of $11.3 million compared to September 30, 2025. Total deposits increased $36.9 million, or 1.85% annualized, primarily related to increases in interest-bearing demand of $44.4 million and certificates of deposit, or CDs, of $24.2 million partially offset by a decrease in noninterest-bearing demand of $28.1 million compared to September 30, 2025. The increase in CDs of $24.2 million is net of a decline in brokered CDs of $20.0 million compared to September 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. During the fourth quarter of 2025, 948,270 of common shares were repurchased for an average share price of $38.20 per share totaling $36.2 million.

Full Year 2025 Results  (twelve months ended December 31, 2025)

Net income was $134.2 million for 2025 compared to net income of $131.3 million for 2024. EPS was $3.49 compared to $3.41 in 2024.

Net interest income increased $15.3 million, or 4.57%, to $350.1 million compared to $334.8 million in 2024. NIM (FTE) (non-GAAP) increased 8 basis points to 3.90% compared to 3.82% for 2024. The relative stability of NIM (FTE) (non-GAAP), despite the declining interest rate environment, reflects the strategic repositioning of the balance sheet to be more interest rate neutral. Average interest-earning assets increased $197.2 million to $9.0 billion in 2025 compared to $8.8 billion in 2024. The yield on average total interest-earning assets decreased 13 basis points to 5.74% compared to 5.87% in 2024. Average total interest-bearing liability costs decreased 30 basis points to 2.79% compared to 3.09% in 2024 due to a decrease in interest rates.

Noninterest income increased $2.9 million to $52.0 million compared to $49.1 million in the prior year. The increase primarily related to lower security losses of $2.3 million in 2025 compared to $7.9 million in 2024 offset by a $3.5 million gain from the exchange offer for Visa Class B-1 common stock in 2024. Noninterest expense increased $7.8 million, or 3.57%, to $226.8 million compared to $218.9 million in 2024. Expenses remained relatively stable with the most significant increase related to salaries and employee benefits of $5.7 million primarily due to higher salary and incentive costs.

The allowance for credit losses, or ACL, was $93.2 million, or 1.15% of total portfolio loans, at December 31, 2025 compared to $101.5 million, or 1.31%, at December 31, 2024. The provision for credit losses was $7.4 million for 2025 compared to $0.1 million for 2024. The increase in provision for credit losses primarily related to higher loan net charge-offs offset by a lower level of ACL. Net loan charge-offs were $14.5 million for 2025 compared to $8.3 million for 2024. Higher net charge-offs in 2025 primarily related to the resolution of NPAs during the fourth quarter. NPAs increased $27.7 million to $55.6 million compared to $27.9 million in the prior year resulting in an NPA to total loans plus OREO ratio of 0.69% compared to 0.36% at December 31, 2024.

New Share Repurchase Plan Authorization

The board of directors authorized a new $100 million share repurchase program at its meeting held January 21, 2026. The new program will replace the existing share repurchase program effective January 26, 2026, and is set to expire February 1, 2027. The remaining capacity under the existing share repurchase program was terminated.

"The board's authorization of the new share repurchase program reflects our focus on disciplined capital management given our robust capital position," said Chris McComish, chief executive officer. "The program provides flexibility to deploy capital in a manner that supports our long-term strategy and commitment to enhancing shareholder value, while maintaining a strong balance sheet."

Conference Call

S&T will host its fourth quarter 2025 earnings conference call live over the Internet at 1:00 p.m. ET, Thursday, January 22, 2026. 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 $9.9 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, pre-provision net revenue 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.

 

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited



2025


2025


2024



Fourth


Third


Fourth


(dollars in thousands, except per share data)

Quarter


Quarter


Quarter


INTEREST AND DIVIDEND INCOME







Loans, including fees

$120,356


$120,321


$117,334


Investment Securities:







Taxable

10,426


10,994


10,167


Tax-exempt

34


34


164


Dividends

297


274


214


Total Interest and Dividend Income

131,113


131,623


127,879









INTEREST EXPENSE







Deposits

37,296


39,864


40,627


Borrowings, junior subordinated debt securities and other

2,857


2,518


3,994


Total Interest Expense

40,153


42,382


44,621









NET INTEREST INCOME

90,960


89,241


83,258


Provision for credit losses

5,696


2,792


(2,462)


Net Interest Income After Provision for Credit Losses

85,264


86,449


85,720









NONINTEREST INCOME







Loss on sale of securities

—


—


(2,592)


Debit and credit card

4,805


4,722


4,627


Service charges on deposit accounts

4,206


4,175


4,175


Wealth management

3,203


3,118


3,151


Other

2,117


1,748


1,710


Total Noninterest Income

14,331


13,763


11,071









NONINTEREST EXPENSE







Salaries and employee benefits

32,707


32,180


30,816


Data processing and information technology

5,079


4,901


5,338


Occupancy

3,855


4,014


3,755


Furniture, equipment and software

3,453


3,225


3,295


Other taxes

1,931


2,088


2,274


Marketing

1,546


1,255


1,622


Professional services and legal

1,228


1,199


1,116


FDIC insurance

1,062


1,071


1,045


Other noninterest expense

6,315


6,443


6,184


Total Noninterest Expense

57,176


56,376


55,445


Income Before Taxes

42,419


43,836


41,346


Income tax expense

8,452


8,874


8,281


Net Income

$33,967


$34,962


$33,065









Per Share Data







Shares outstanding at end of period

37,402,705


38,350,500


38,259,449


Average shares outstanding - diluted

38,136,813


38,595,118


38,570,784


Diluted earnings per share

$0.89


$0.91


$0.86


Dividends declared per share

$0.36


$0.34


$0.34


Dividend yield (annualized)

3.66 %


3.62 %


3.56 %


Dividends paid to net income

40.14 %


37.35 %


39.36 %


Book value

$39.14


$38.47


$36.08


Tangible book value (non-GAAP) (1)

$29.11


$28.69


$26.25


Market value

$39.35


$37.59


$38.22









Profitability Ratios (Annualized)







Return on average assets

1.37 %


1.42 %


1.37 %


Return on average shareholders' equity

9.13 %


9.48 %


9.57 %


Return on average tangible shareholders' equity (non-GAAP)(2)

12.30 %


12.81 %


13.25 %


Pre-provision net revenue / average assets (non-GAAP)(3)

1.95 %


1.89 %


1.72 %


Efficiency ratio (FTE) (non-GAAP)(4)

53.99 %


54.41 %


56.93 %









 

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited





Twelve Months Ended December 31,


(dollars in thousands, except per share data)



2025


2024


INTEREST AND DIVIDEND INCOME







Loans, including fees



$472,713


$476,382


Investment Securities:







Taxable



42,339


37,744


Tax-exempt



260


690


Dividends



1,178


1,056


Total Interest and Dividend Income



516,490


515,872









INTEREST EXPENSE







Deposits



154,570


159,411


Borrowings, junior subordinated debt securities and other



11,824


21,655


Total Interest Expense



166,394


181,066









NET INTEREST INCOME



350,096


334,806


Provision for credit losses



7,422


133


Net Interest Income After Provision for Credit Losses



342,674


334,673









NONINTEREST INCOME







Loss on sale of securities



(2,295)


(7,938)


Debit and credit card



18,303


18,263


Service charges on deposit accounts



16,433


16,273


Wealth management



12,447


12,259


Other



7,135


10,226


Total Noninterest Income



52,023


49,083









NONINTEREST EXPENSE







Salaries and employee benefits



127,647


121,990


Data processing and information technology



19,757


19,510


Occupancy



16,195


15,102


Furniture, equipment and software



13,513


13,559


Other Taxes



7,601


7,452


Marketing



5,906


6,351


Professional services and legal



5,452


5,468


FDIC insurance



4,235


4,201


Other noninterest expense



26,451


25,305


Total Noninterest Expense



226,757


218,938


Income Before Taxes



167,940


164,818


Income tax expense



33,710


33,553









Net Income



$134,230


$131,265









Per Share Data







Average shares outstanding - diluted



38,491,504


38,523,688


Diluted earnings per share



$3.49


$3.41


Dividends declared per share



$1.38


$1.33


Dividends paid to net income



39.40 %


38.83 %









Profitability Ratios (annualized)







Return on average assets



1.38 %


1.37 %


Return on average shareholders' equity



9.29 %


9.86 %


Return on average tangible shareholders' equity (non-GAAP)(5)



12.62 %


13.84 %


Pre-provision net revenue / average assets (non-GAAP)(6)



1.82 %


1.77 %


Efficiency ratio (FTE) (non-GAAP)(7)



55.74 %


55.99 %























 

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited





2025


2025


2024



Fourth


Third


Fourth


(dollars in thousands)

Quarter


Quarter


Quarter


ASSETS







Cash and due from banks

$163,436


$196,228


$244,820


Securities available for sale, at fair value

987,659


1,001,149


987,591


Loans held for sale

1,010


—


—


Commercial loans:







Commercial real estate

3,626,784


3,653,790


3,388,017


Commercial and industrial

1,519,336


1,466,075


1,540,397


Commercial construction

380,091


320,190


352,886


Total Commercial Loans

5,526,211


5,440,055


5,281,300


Consumer loans:







Residential mortgage

1,710,351


1,700,636


1,649,639


Home equity

707,966


698,886


653,756


Installment and other consumer

91,280


102,600


104,757


Consumer construction

36,149


38,830


53,506


Total Consumer Loans

2,545,746


2,540,952


2,461,658


Total Portfolio Loans

8,071,957


7,981,007


7,742,958


Allowance for credit losses

(93,178)


(98,155)


(101,494)


Total Portfolio Loans, Net

7,978,779


7,882,852


7,641,464


Federal Home Loan Bank and other restricted stock, at cost

16,030


15,042


15,231


Goodwill

373,424


373,424


373,424


Other Intangible assets, net

2,251


2,450


3,055


Other assets

348,391


346,338


392,387


Total Assets

$9,870,980


$9,817,483


$9,657,972









LIABILITIES







Deposits:







Noninterest-bearing demand

$2,160,645


$2,188,699


$2,185,242


Interest-bearing demand

790,278


745,904


812,768


Money market

2,196,998


2,194,702


2,040,285


Savings

862,118


868,019


877,859


Certificates of deposit

1,948,792


1,924,619


1,866,963


Total Deposits

7,958,831


7,921,943


7,783,117









Borrowings:







Short-term borrowings

165,000


135,000


150,000


Long-term borrowings

50,815


50,836


50,896


Junior subordinated debt securities

49,478


49,463


49,418


Total Borrowings

265,293


235,299


250,314


Other liabilities

182,979


184,775


244,247


Total Liabilities

8,407,103


8,342,017


8,277,678









SHAREHOLDERS' EQUITY







Total Shareholders' Equity

1,463,877


1,475,466


1,380,294


Total Liabilities and Shareholders' Equity

$9,870,980


$9,817,483


$9,657,972









Capitalization Ratios







Shareholders' equity / assets

14.83 %


15.03 %


14.29 %


Tangible common equity / tangible assets (non-GAAP)(9)

11.46 %


11.65 %


10.82 %


Tier 1 leverage ratio

12.18 %


12.33 %


11.98 %


Common equity tier 1 capital

14.32 %


14.75 %


14.58 %


Risk-based capital - tier 1

14.62 %


15.06 %


14.90 %


Risk-based capital - total

16.19 %


16.63 %


16.49 %









 

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited



2025


2025


2024



Fourth


Third


Fourth


(dollars in thousands)

Quarter


Quarter


Quarter


Net Interest Margin (FTE) (non-GAAP) (QTD Averages)







ASSETS







Interest-bearing deposits with banks

$112,524

3.98 %

$128,236

4.43 %

$172,179

4.85 %

Securities, at fair value

985,200

3.80 %

1,011,624

3.80 %

992,653

3.34 %

Loans held for sale

890

6.44 %

18

6.88 %

117

6.61 %

Commercial real estate

3,625,455

5.87 %

3,564,071

5.86 %

3,328,052

5.83 %

Commercial and industrial

1,491,942

6.54 %

1,485,816

6.78 %

1,538,983

6.92 %

Commercial construction

348,987

7.34 %

379,167

6.97 %

368,566

7.99 %

Total Commercial Loans

5,466,384

6.15 %

5,429,054

6.19 %

5,235,601

6.30 %

Residential mortgage

1,701,279

5.33 %

1,688,697

5.33 %

1,635,313

5.14 %

Home equity

700,194

6.22 %

687,639

6.35 %

649,152

6.66 %

Installment and other consumer

92,748

7.73 %

100,551

7.85 %

105,478

8.18 %

Consumer construction

40,868

6.75 %

40,612

6.73 %

56,165

6.70 %

Total Consumer Loans

2,535,089

5.69 %

2,517,499

5.73 %

2,446,108

5.71 %

Total Portfolio Loans

8,001,473

6.00 %

7,946,553

6.04 %

7,681,709

6.11 %

Total Loans

8,002,363

6.00 %

7,946,571

6.04 %

7,681,826

6.11 %

Total other earning assets

15,366

7.40 %

13,808

7.63 %

13,680

6.59 %

Total Interest-earning Assets

9,115,453

5.74 %

9,100,239

5.77 %

8,860,338

5.78 %

Noninterest-earning assets

694,161


699,840


711,374


Total Assets

$9,809,614


$9,800,079


$9,571,712









LIABILITIES AND SHAREHOLDERS' EQUITY







Interest-bearing demand

$770,233

0.94 %

$742,817

0.99 %

$780,396

1.03 %

Money market

2,202,015

2.75 %

2,247,331

3.06 %

2,060,103

3.17 %

Savings

859,344

0.68 %

873,968

0.72 %

874,699

0.70 %

Certificates of deposit

1,925,474

3.86 %

1,915,006

3.96 %

1,818,755

4.52 %

Total Interest-bearing Deposits

5,757,066

2.57 %

5,779,122

2.74 %

5,533,953

2.92 %

Short-term borrowings

119,293

4.32 %

73,538

4.53 %

159,011

4.84 %

Long-term borrowings

50,826

3.80 %

50,846

3.80 %

66,364

3.76 %

Junior subordinated debt securities

49,469

6.79 %

49,454

7.08 %

49,408

7.69 %

Total Borrowings

219,588

4.75 %

173,838

5.04 %

274,783

5.09 %

Total Other Interest-bearing Liabilities

22,736

3.95 %

28,049

4.36 %

40,055

4.71 %

Total Interest-bearing Liabilities

5,999,390

2.66 %

5,981,009

2.81 %

5,848,791

3.03 %

Noninterest-bearing liabilities

2,334,350


2,355,972


2,348,014


Shareholders' equity

1,475,874


1,463,098


1,374,907


Total Liabilities and Shareholders' Equity

$9,809,614


$9,800,079


$9,571,712









Net Interest Margin (FTE) (non-GAAP)(10)


3.99 %


3.93 %


3.77 %








 

 

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited





Twelve Months Ended December 31,


(dollars in thousands)



2025


2024


Net Interest Margin (FTE) (non-GAAP) (YTD Averages)







ASSETS







Interest-bearing deposits with banks



$122,385

4.34 %

$165,275

5.36 %

Securities, at fair value



999,735

3.74 %

977,896

3.05 %

Loans held for sale



230

6.39 %

85

6.95 %

Commercial real estate



3,516,374

5.86 %

3,334,518

5.92 %

Commercial and industrial



1,507,852

6.68 %

1,584,309

7.26 %

Commercial construction



371,300

7.04 %

378,755

7.84 %

Total Commercial Loans



5,395,526

6.17 %

5,297,582

6.46 %

Residential mortgage



1,681,229

5.28 %

1,558,277

5.05 %

Home equity



677,909

6.31 %

646,085

6.92 %

Installment and other consumer



98,051

7.86 %

106,260

8.52 %

Consumer construction



41,900

6.79 %

65,402

6.14 %

Total Consumer Loans



2,499,089

5.69 %

2,376,024

5.74 %

Total Portfolio Loans



7,894,615

6.02 %

7,673,606

6.24 %

Total Loans



7,894,845

6.02 %

7,673,691

6.24 %

Total other earning assets



15,611

7.35 %

18,606

6.82 %

Total Interest-earning Assets



9,032,576

5.74 %

8,835,468

5.87 %

Noninterest-earning assets



707,961


737,366


Total Assets



$9,740,537


$9,572,834









LIABILITIES AND SHAREHOLDERS' EQUITY







Interest-bearing demand



$763,929

0.98 %

$804,387

1.10 %

Money market



2,182,107

2.95 %

1,993,053

3.24 %

Savings



874,528

0.69 %

905,351

0.69 %

Certificates of deposit



1,893,648

4.04 %

1,764,661

4.51 %

Total Interest-bearing deposits



5,714,212

2.70 %

5,467,452

2.92 %

Short-term borrowings



111,453

4.53 %

257,524

5.12 %

Long-term borrowings



50,856

3.80 %

46,306

4.24 %

Junior subordinated debt securities



49,446

7.04 %

49,386

8.05 %

Total Borrowings



211,755

4.94 %

353,216

5.41 %

Total Other Interest-bearing Liabilities



31,660

4.31 %

47,727

5.26 %

Total Interest-bearing Liabilities



5,957,627

2.79 %

5,868,395

3.09 %

Noninterest-bearing liabilities



2,338,588


2,373,569


Shareholders' equity



1,444,322


1,330,870


Total Liabilities and Shareholders' Equity



$9,740,537


$9,572,834









Net Interest Margin (FTE) (non-GAAP)(8)




3.90 %


3.82 %

 

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited



2025


2025


2024



Fourth


Third


Fourth


(dollars in thousands)

Quarter


Quarter


Quarter


Nonaccrual Loans







Commercial loans:


% Loans


% Loans


% Loans

Commercial real estate

$17,373

0.48 %

$27,964

0.77 %

$4,173

0.12 %

Commercial and industrial

25,575

1.68 %

9,826

0.67 %

12,570

0.82 %

Commercial construction

869

0.23 %

869

0.27 %

—

— %

Total Nonaccrual Commercial Loans

43,817

0.79 %

38,659

0.71 %

16,743

0.32 %

Consumer loans:







Residential mortgage

8,098

0.47 %

7,005

0.41 %

7,628

0.46 %

Home equity

3,485

0.49 %

3,790

0.54 %

3,336

0.51 %

Installment and other consumer

158

0.17 %

164

0.16 %

230

0.22 %

Total Nonaccrual Consumer Loans

11,741

0.46 %

10,959

0.43 %

11,194

0.45 %

Total Nonaccrual Loans

$55,558

0.69 %

$49,618

0.62 %

$27,937

0.36 %


 

2025


2025


2024



Fourth


Third


Fourth


(dollars in thousands)

Quarter


Quarter


Quarter


Loan Charge-offs (Recoveries)







Charge-offs

$12,482


$3,053


$1,964


Recoveries

(1,529)


(639)


(2,022)


Net Loan Charge-offs (Recoveries)

$10,953


$2,414


($58)









Net Loan Charge-offs (Recoveries)







Commercial loans:







Commercial real estate

$7,510


$106


($1,359)


Commercial and industrial

3,133


2,142


1,139


Commercial construction

—


(9)


—


Total Commercial Loan Charge-offs (Recoveries)

10,643


2,239


(220)


Consumer loans:







Residential mortgage

46


32


10


Home equity

(101)


9


114


Installment and other consumer

365


134


38


Total Consumer Loan Charge-offs

310


175


162


Total Net Loan Charge-offs (Recoveries)

$10,953


$2,414


($58)


 

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited







Twelve Months Ended December 31,


(dollars in thousands)



2025


2024


Loan Charge-offs (Recoveries)







Charge-offs



$18,075


$12,187


Recoveries



(3,577)


(3,907)


Net Loan Charge-offs



$14,498


$8,280









Net Loan Charge-offs







Commercial loans:







Commercial real estate



$7,454


$3,547


Commercial and industrial



5,760


2,686


Commercial construction



110


—


Total Commercial Loan Charge-offs



13,324


6,233


Consumer loans:







Residential mortgage



104


45


Home equity



87


1,073


Installment and other consumer



983


929


Total Consumer Loan Charge-offs



1,174


2,047


Total Net Loan Charge-offs



$14,498


$8,280









 

2025


2025


2024



Fourth


Third


Fourth


(dollars in thousands)

Quarter


Quarter


Quarter


Asset Quality Data







Nonaccrual loans

$55,558


$49,618


$27,937


OREO

57


8


8


Total nonperforming assets

55,615


49,626


27,945


Nonaccrual loans / total loans

0.69 %


0.62 %


0.36 %


Nonperforming assets / total loans plus OREO

0.69 %


0.62 %


0.36 %


Allowance for credit losses / total portfolio loans

1.15 %


1.23 %


1.31 %


Allowance for credit losses / nonaccrual loans

168 %


198 %


363 %


Net loan charge-offs

$10,953


$2,414


($58)


Net loan charge-offs (annualized) / average loans

0.54 %


0.12 %


0.00 %


 

Twelve Months Ended December 31,


(dollars in thousands)



2025


2024


Asset Quality Data







Net loan charge-offs



$14,498


$8,280


Net loan charge-offs / average loans



0.18 %


0.11 %


 

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited




Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures:





2025


2025


2024



Fourth


Third


Fourth


(dollars in thousands, except per share data)

Quarter


Quarter


Quarter


(1)  Tangible Book Value (non-GAAP)







Total shareholders' equity

$1,463,877


$1,475,466


$1,380,294


Less: goodwill and other intangible assets, net of deferred tax liability

(375,202)


(375,359)


(375,837)


Tangible common equity (non-GAAP)

$1,088,675


$1,100,107


$1,004,457


Common shares outstanding

37,402,705


38,350,500


38,259,449


Tangible book value (non-GAAP)

$29.11


$28.69


$26.25


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)

$134,760


$138,708


$131,541


Plus: amortization of intangibles (annualized), net of tax

624


649


858


Net income before amortization of intangibles (annualized)

$135,384


$139,357


$132,399









Average total shareholders' equity

$1,475,874


$1,463,098


$1,374,907


Less: average goodwill and other intangible assets, net of deferred tax liability

(375,279)


(375,446)


(375,879)


Average tangible equity (non-GAAP)

$1,100,595


$1,087,652


$999,028


Return on average tangible shareholders' equity (non-GAAP)

12.30 %


12.81 %


13.25 %


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

$42,419


$43,836


$41,346


Plus: net loss on sale of securities

—


—


2,592


Less: gain on Visa Class B-1 exchange

—


—


(186)


Plus: Provision for credit losses

5,696


2,792


(2,462)


Total

$48,115


$46,628


$41,290


Total (annualized) (non-GAAP)

$190,891


$184,992


$164,262


Average assets

$9,809,614


$9,800,079


$9,571,712


Pre-provision Net Revenue / Average Assets (non-GAAP)

1.95 %


1.89 %


1.72 %


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

$57,176


$56,376


$55,445









Net interest income per consolidated statements of net income

$90,960


$89,241


$83,258


Plus: taxable equivalent adjustment

605


602


660


Net interest income (FTE) (non-GAAP)

91,565


89,843


83,918


Noninterest income

14,331


13,763


11,071


Plus: net loss on sale of securities

—


—


2,592


Less: gain on Visa Class B-1 exchange

—


—


(186)


Net interest income (FTE) (non-GAAP) plus noninterest income

$105,896


$103,606


$97,395


Efficiency ratio (FTE) (non-GAAP)

53.99 %


54.41 %


56.93 %


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.








 

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited







Twelve Months Ended December 31,


(dollars in thousands)



2025


2024


(5)  Return on Average Tangible Shareholders' Equity (non-GAAP)







Net income



$134,230


$131,265


Plus: amortization of intangibles, net of tax



674


904


Net income before amortization of intangibles



$134,904


$132,169









Average total shareholders' equity



$1,444,322


$1,330,870


Less: average goodwill and other intangible assets, net of deferred tax liability



(375,508)


(376,181)


Average tangible equity (non-GAAP)



$1,068,814


$954,689


Return on average tangible shareholders' equity (non-GAAP)



12.62 %


13.84 %


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



$167,940


$164,818


  Plus: net losses on sale of securities



2,295


7,938


  Less: gain on Visa Class B-1 exchange



—


(3,492)


  Plus: Provision for credit losses



7,422


133


Total (non-GAAP)



$177,657


$169,397


Average assets



$9,740,537


$9,572,834


Pre-provision Net Revenue / Average Assets (non-GAAP)



1.82 %


1.77 %


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



$226,757


$218,938









Net interest income per consolidated statements of net income



$350,096


$334,806


Plus: taxable equivalent adjustment



2,415


2,706


Net interest income (FTE) (non-GAAP)



352,511


337,512


Noninterest income



52,023


49,083


Plus: net losses on sale of securities



2,295


7,938


Less: gain on Visa Class B-1 exchange



—


(3,492)


Net interest income (FTE) (non-GAAP) plus noninterest income



$406,829


$391,041


Efficiency ratio (FTE) (non-GAAP)



55.74 %


55.99 %


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



$516,490


$515,872


  Less: interest expense



(166,394)


(181,066)


Net interest income per consolidated statements of net income



350,096


334,806


  Plus: taxable equivalent adjustment



2,415


2,706


Net interest income (FTE) (non-GAAP)



$352,511


$337,512


Average interest-earning assets



$9,032,576


$8,835,468


Net interest margin - (FTE) (non-GAAP)



3.90 %


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.

 

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited




Definitions  and Reconciliation of GAAP to Non-GAAP Financial Measures:





2025


2025


2024



Fourth


Third


Fourth


(dollars in thousands)

Quarter


Quarter


Quarter


(9)  Tangible Common Equity / Tangible Assets (non-GAAP)







Total shareholders' equity

$1,463,877


$1,475,466


$1,380,294


Less: goodwill and other intangible assets, net of deferred tax liability

(375,202)


(375,359)


(375,837)


Tangible common equity (non-GAAP)

$1,088,675


$1,100,107


$1,004,457









Total assets

$9,870,980


$9,817,483


$9,657,972


Less: goodwill and other intangible assets, net of deferred tax liability

(375,202)


(375,359)


(375,837)


Tangible assets (non-GAAP)

$9,495,778


$9,442,124


$9,282,135


Tangible common equity to tangible assets (non-GAAP)

11.46 %


11.65 %


10.82 %


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

$131,113


$131,623


$127,879


Less: interest expense

(40,153)


(42,382)


(44,621)


Net interest income per consolidated statements of net income

90,960


89,241


83,258


Plus: taxable equivalent adjustment

605


602


660


Net interest income (FTE) (non-GAAP)

$91,565


$89,843


$83,918


Net interest income (FTE) (annualized)

$363,274


$356,442


$333,848


Average interest-earning assets

$9,115,453


$9,100,239


$8,860,338


Net interest margin (FTE) (non-GAAP)

3.99 %


3.93 %


3.77 %


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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SOURCE S&T Bancorp, Inc.