8-K
S&T BANCORP INC (STBA)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
July 24, 2025
Date of Report (date of earliest event reported)
S&T BANCORP, INC
(Exact name of registrant as specified in its charter)
| Pennsylvania | 0-12508 | 25-1434426 | |
|---|---|---|---|
| (State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | |
| 800 Philadelphia Street | Indiana | PA | 15701 |
| (Address of Principal Executive Offices) | (Zip Code) |
(800) 325-2265
Registrant's telephone number, including area code
(Not applicable)
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, $2.50 par value | STBA | NASDAQ Global Select Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On July 24, 2025 S&T Bancorp Inc. (S&T) announced by press release its earnings for the three and six months ended June 30, 2025. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference in this Item 2.02. The information contained in this Item 2.02 of this Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Exchange Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 7.01 Regulation FD Disclosure.
In connection with the issuance of its earnings for the three and six months ended June 30, 2025, S&T has also made available on its website materials that contain supplemental information about S&T’s financial results (“Supplemental Information”). A copy of the supplemental information is attached hereto as Exhibit 99.2 and is incorporated by reference in this Item 7.01. The information contained in this Item 7.01 of this Report on Form 8-K, including Exhibit 99.2, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Exchange Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description of Exhibit |
|---|---|
| 99.1 | Press Release |
| 99.2 | Supplemental Information |
| 104 | Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed by the undersigned thereunto duly authorized.
| S&T Bancorp, Inc. | |
|---|---|
| /s/ Mark Kochvar | |
| July 24, 2025 | Mark Kochvar<br>Senior Executive Vice President,<br>Chief Financial Officer |
Document
| INVESTOR CONTACT:<br><br>Mark Kochvar<br><br>S&T Bancorp, Inc.<br><br>Chief Financial Officer<br><br>724.465.4826<br><br>mark.kochvar@stbank.com |
|---|
FOR IMMEDIATE RELEASE
S&T Bancorp, Inc. Announces Second Quarter 2025 Results
INDIANA, Pa., - July 24, 2025 – S&T Bancorp, Inc. (S&T) (NASDAQ: STBA), the holding company for S&T Bank, announced net income of $31.9 million, or $0.83 per diluted share, for the second quarter of 2025 compared to net income of $33.4 million, or $0.87 per diluted share, for the first quarter of 2025 and net income of $34.4 million, or $0.89 per diluted share, for the second quarter of 2024.
Second Quarter of 2025 Highlights:
•Strong return metrics with return on average assets (ROA) of 1.32%, return on average equity (ROE) of 8.91% and return on average tangible equity (ROTE) (non-GAAP) of 12.12% compared to ROA of 1.41%, ROE of 9.67% and ROTE (non-GAAP) of 13.29% for the first quarter of 2025.
•Pre-provision net revenue to average assets (PPNR) (non-GAAP) was solid at 1.73% for both the second and first quarters of 2025.
•Net interest income growth of $3.3 million, or 3.90%, and net interest margin on a fully taxable equivalent basis (NIM) (FTE) (non-GAAP) expansion of 7 basis points to 3.88% compared to 3.81% in the first quarter of 2025.
•Total portfolio loans increased $98.1 million, or 5.02% annualized, compared to March 31, 2025.
•Total deposits increased $28.0 million, or 1.42% annualized, compared to March 31, 2025.
•Nonperforming assets decreased $1.1 million to $21.3 million, or 0.27% of total loans plus other real estate owned (OREO), compared to $22.4 million, or 0.29%, at March 31, 2025.
"We are pleased to report another strong quarter with excellent returns, driven by continued progress on our performance drivers," said Chris McComish, chief executive officer. "Net interest income growth was driven by net interest margin expansion and solid loan growth while asset quality metrics remain at very favorable levels. As we move into the second half of the year, we remain confident in our strategy, the strength and commitment of our team and our ability to capitalize on future growth opportunities."
Net Interest Income
Net interest income increased $3.3 million, or 3.90%, to $86.6 million in the second quarter of 2025 compared to $83.3 million in the first quarter of 2025. Average interest-earning assets increased $112.5 million to $9.0 billion in the second quarter of 2025 compared to $8.9 billion in the first quarter of 2025. NIM (FTE) (non-GAAP) expansion of 7 basis points to 3.88% compared to 3.81% in the prior quarter. The yield on average total interest-earning assets increased 6 basis points to 5.76% compared to 5.70% in the first quarter of 2025 primarily due to favorable asset repricing. Total interest-bearing liability costs decreased 3 basis points to 2.84% compared to 2.87% in the first quarter of 2025 mainly due to the repricing of certificates of deposits.
- more -
S&T Earnings Release - 2
Asset Quality
Asset quality remained strong in the second quarter of 2025. The allowance for credit losses, or ACL, was $98.6 million, or 1.24% of total portfolio loans at June 30, 2025 compared to $99.0 million, or 1.26%, at March 31, 2025. The provision for credit losses was $2.0 million for the second quarter of 2025 compared to a negative $3.0 million in the first quarter of 2025. The negative provision in the first quarter of 2025 related to net recoveries and a $4.2 million decrease in specific reserves. Net charge-offs were $1.2 million, or 0.06% of average loans, compared to net recoveries in the first quarter of 2025. Nonperforming assets decreased $1.1 million to $21.3 million, or 0.27% of total loans plus OREO, compared to $22.4 million, or 0.29%, at March 31, 2025.
Noninterest Income and Expense
Noninterest income increased $3.1 million to $13.5 million in the second quarter of 2025 compared to $10.4 million in the first quarter of 2025. The increase primarily related to a $2.3 million realized loss recognized in the first quarter of 2025 from the repositioning of securities into longer duration, higher-yielding securities. Additionally, debit and credit card fees and service charges on deposit accounts were seasonally higher compared to the first quarter of 2025. Total noninterest expense increased $3.0 million to $58.1 million compared to $55.1 million in the first quarter of 2025. Salaries and employee benefits increased $3.1 million primarily related to annual merit increases, higher incentives and medical costs compared to the first quarter of 2025.
Financial Condition
Total assets were $9.8 billion at June 30, 2025 compared to $9.7 billion at March 31, 2025. Total portfolio loans increased $98.1 million, or 5.02% annualized, compared to March 31, 2025. The commercial loan portfolio increased $67.3 million with growth in commercial real estate of $58.0 million and commercial construction of $17.7 million partially offset by a decrease in commercial and industrial of $8.4 million compared to March 31, 2025. The consumer loan portfolio increased $30.8 million compared to March 31, 2025. Total deposits increased $28.0 million, or 1.42% annualized, compared to March 31, 2025. Noninterest-bearing demand increased $17.9 million, money market $26.2 million and CDs $62.1 million, offset by decreases in interest-bearing demand deposits of $71.5 million and savings of $6.7 million compared to March 31, 2025. Total borrowings increased $55.0 million to $250.3 million compared to $195.3 million at March 31, 2025 to fund loan growth.
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 second quarter 2025 earnings conference call live via webcast at 1:00 p.m. ET on Thursday, July 24, 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.
- more -
S&T Earnings Release - 3
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
- more -
S&T Earnings Release - 4
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, 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.
- more -
| S&T Bancorp, Inc.<br>Consolidated Selected Financial Data<br>Unaudited | S&T Earnings Release - 5 | ||
|---|---|---|---|
| 2025 | 2025 | 2024 | |
| --- | --- | --- | --- |
| Second | First | Second | |
| (dollars in thousands, except per share data) | Quarter | Quarter | Quarter |
| INTEREST AND DIVIDEND INCOME | |||
| Loans, including fees | 117,696 | 114,340 | 119,564 |
| Investment Securities: | |||
| Taxable | 10,846 | 10,073 | 8,761 |
| Tax-exempt | 35 | 157 | 168 |
| Dividends | 329 | 278 | 272 |
| Total Interest and Dividend Income | 128,906 | 124,848 | 128,765 |
| INTEREST EXPENSE | |||
| Deposits | 39,056 | 38,354 | 39,629 |
| Borrowings, junior subordinated debt securities and other | 3,278 | 3,171 | 5,542 |
| Total Interest Expense | 42,334 | 41,525 | 45,171 |
| NET INTEREST INCOME | 86,572 | 83,323 | 83,594 |
| Provision for credit losses | 1,974 | (3,040) | 422 |
| Net Interest Income After Provision for Credit Losses | 84,598 | 86,363 | 83,172 |
| NONINTEREST INCOME | |||
| Loss on sale of securities | — | (2,295) | (3,150) |
| Debit and credit card | 4,588 | 4,188 | 4,713 |
| Service charges on deposit accounts | 4,090 | 3,962 | 4,089 |
| Wealth management | 3,042 | 3,084 | 2,995 |
| Other | 1,780 | 1,490 | 4,658 |
| Total Noninterest Income | 13,500 | 10,429 | 13,305 |
| NONINTEREST EXPENSE | |||
| Salaries and employee benefits | 32,907 | 29,853 | 30,388 |
| Data processing and information technology | 4,847 | 4,930 | 4,215 |
| Occupancy | 4,024 | 4,302 | 3,649 |
| Furniture, equipment and software | 3,352 | 3,483 | 3,382 |
| Other taxes | 2,088 | 1,494 | 1,433 |
| Professional services and legal | 1,739 | 1,286 | 1,403 |
| Marketing | 1,490 | 1,615 | 1,404 |
| FDIC insurance | 1,062 | 1,040 | 1,053 |
| Other noninterest expense | 6,605 | 7,088 | 6,681 |
| Total Noninterest Expense | 58,114 | 55,091 | 53,608 |
| Income Before Taxes | 39,984 | 41,701 | 42,869 |
| Income tax expense | 8,084 | 8,300 | 8,498 |
| Net Income | 31,900 | 33,401 | 34,371 |
| Per Share Data | |||
| Shares outstanding at end of period | 38,345,448 | 38,261,299 | 38,256,204 |
| Average shares outstanding - diluted | 38,637,400 | 38,599,656 | 38,531,692 |
| Diluted earnings per share | 0.83 | 0.87 | 0.89 |
| Dividends declared per share | 0.34 | 0.34 | 0.33 |
| Dividend yield (annualized) | 3.60 | 3.67 | 3.95 |
| Dividends paid to net income | 41.30 | 38.97 | 36.97 |
| Book value | 37.70 | 37.06 | 34.54 |
| Tangible book value (1) | 27.90 | 27.24 | 24.71 |
| Market value | 37.82 | 37.05 | 33.39 |
| Profitability Ratios (Annualized) | |||
| Return on average assets | 1.32 | 1.41 | 1.45 |
| Return on average shareholders' equity | 8.91 | 9.67 | 10.61 |
| Return on average tangible shareholders' equity(2) | 12.12 | 13.29 | 15.01 |
| Pre-provision net revenue / average assets(3) | 1.73 | 1.73 | 1.82 |
| Efficiency ratio (FTE)(4) | 57.73 | 56.99 | 54.94 |
All values are in US Dollars.
- more -
| S&T Bancorp, Inc.<br>Consolidated Selected Financial Data<br>Unaudited | S&T Earnings Release - 6 | |
|---|---|---|
| Six Months Ended June 30, | ||
| --- | --- | --- |
| (dollars in thousands, except per share data) | 2025 | 2024 |
| INTEREST AND DIVIDEND INCOME | ||
| Loans, including fees | 232,036 | 238,141 |
| Investment Securities: | ||
| Taxable | 20,919 | 17,356 |
| Tax-exempt | 192 | 361 |
| Dividends | 607 | 661 |
| Total Interest and Dividend Income | 253,754 | 256,519 |
| INTEREST EXPENSE | ||
| Deposits | 77,410 | 76,291 |
| Borrowings, junior subordinated debt securities and other | 6,449 | 13,157 |
| Total Interest Expense | 83,859 | 89,448 |
| NET INTEREST INCOME | 169,895 | 167,071 |
| Provision for credit losses | (1,066) | 3,049 |
| Net Interest Income After Provision for Credit Losses | 170,961 | 164,022 |
| NONINTEREST INCOME | ||
| Loss on sale of securities | (2,295) | (3,147) |
| Debit and credit card | 8,776 | 8,948 |
| Service charges on deposit accounts | 8,052 | 7,917 |
| Wealth management | 6,126 | 6,037 |
| Other | 3,270 | 6,380 |
| Total Noninterest Income | 23,929 | 26,135 |
| NONINTEREST EXPENSE | ||
| Salaries and employee benefits | 62,760 | 59,900 |
| Data processing and information technology | 9,777 | 9,169 |
| Occupancy | 8,326 | 7,519 |
| Furniture, equipment and software | 6,835 | 6,854 |
| Other Taxes | 3,582 | 3,304 |
| Marketing | 3,105 | 3,347 |
| Professional services and legal | 3,025 | 3,123 |
| FDIC insurance | 2,102 | 2,102 |
| Other noninterest expense | 13,693 | 12,810 |
| Total Noninterest Expense | 113,205 | 108,128 |
| Income Before Taxes | 81,685 | 82,029 |
| Income tax expense | 16,384 | 16,419 |
| Net Income | 65,301 | 65,610 |
| Per Share Data | ||
| Average shares outstanding - diluted | 38,618,741 | 38,495,622 |
| Diluted earnings per share | 1.69 | 1.70 |
| Dividends declared per share | 0.68 | 0.66 |
| Dividends paid to net income | 40.11 | 38.60 |
| Profitability Ratios (annualized) | ||
| Return on average assets | 1.36 | 1.38 |
| Return on average shareholders' equity | 9.28 | 10.17 |
| Return on average tangible shareholders' equity(5) | 12.69 | 14.44 |
| Pre-provision net revenue / average assets(6) | 1.73 | 1.79 |
| Efficiency ratio (FTE)(7) | 57.37 | 55.57 |
All values are in US Dollars.
- more -
| S&T Bancorp, Inc.<br>Consolidated Selected Financial Data<br>Unaudited | S&T Earnings Release - 7 | ||
|---|---|---|---|
| 2025 | 2025 | 2024 | |
| --- | --- | --- | --- |
| Second | First | Second | |
| (dollars in thousands) | Quarter | Quarter | Quarter |
| ASSETS | |||
| Cash and due from banks | 203,118 | 211,836 | 246,310 |
| Securities available for sale, at fair value | 1,021,183 | 1,011,111 | 977,958 |
| Loans held for sale | — | — | 188 |
| Commercial loans: | |||
| Commercial real estate | 3,520,294 | 3,462,246 | 3,347,699 |
| Commercial and industrial | 1,512,027 | 1,520,475 | 1,611,183 |
| Commercial construction | 397,785 | 380,129 | 380,128 |
| Total Commercial Loans | 5,430,106 | 5,362,850 | 5,339,010 |
| Consumer loans: | |||
| Residential mortgage | 1,678,992 | 1,670,750 | 1,562,026 |
| Home equity | 681,143 | 660,594 | 642,225 |
| Installment and other consumer | 100,177 | 98,165 | 102,660 |
| Consumer construction | 44,016 | 43,990 | 67,649 |
| Total Consumer Loans | 2,504,328 | 2,473,499 | 2,374,560 |
| Total Portfolio Loans | 7,934,434 | 7,836,349 | 7,713,570 |
| Allowance for credit losses | (98,580) | (99,010) | (106,150) |
| Total Portfolio Loans, Net | 7,835,854 | 7,737,339 | 7,607,420 |
| Federal Home Loan Bank and other restricted stock, at cost | 15,817 | 13,445 | 12,056 |
| Goodwill | 373,424 | 373,424 | 373,424 |
| Other Intangible assets, net | 2,656 | 2,813 | 3,456 |
| Other assets | 358,017 | 368,308 | 414,650 |
| Total Assets | 9,810,069 | 9,718,276 | 9,635,462 |
| LIABILITIES | |||
| Deposits: | |||
| Noninterest-bearing demand | 2,182,346 | 2,164,491 | 2,206,589 |
| Interest-bearing demand | 738,251 | 809,722 | 789,317 |
| Money market | 2,236,298 | 2,210,081 | 2,008,486 |
| Savings | 879,254 | 886,007 | 906,794 |
| Certificates of deposit | 1,884,771 | 1,822,632 | 1,769,150 |
| Total Deposits | 7,920,920 | 7,892,933 | 7,680,336 |
| Borrowings: | |||
| Short-term borrowings | 150,000 | 95,000 | 275,000 |
| Long-term borrowings | 50,856 | 50,876 | 39,034 |
| Junior subordinated debt securities | 49,448 | 49,433 | 49,388 |
| Total Borrowings | 250,304 | 195,309 | 363,422 |
| Other liabilities | 193,352 | 212,000 | 270,261 |
| Total Liabilities | 8,364,576 | 8,300,242 | 8,314,019 |
| SHAREHOLDERS’ EQUITY | |||
| Total Shareholders’ Equity | 1,445,493 | 1,418,034 | 1,321,443 |
| Total Liabilities and Shareholders’ Equity | 9,810,069 | 9,718,276 | 9,635,462 |
| Capitalization Ratios | |||
| Shareholders' equity / assets | 14.73 | 14.59 | 13.71 |
| Tangible common equity / tangible assets(9) | 11.34 | 11.16 | 10.21 |
| Tier 1 leverage ratio | 12.18 | 12.09 | 11.51 |
| Common equity tier 1 capital | 14.59 | 14.67 | 13.89 |
| Risk-based capital - tier 1 | 14.91 | 14.99 | 14.21 |
| Risk-based capital - total | 16.48 | 16.57 | 15.79 |
All values are in US Dollars.
- more -
| S&T Bancorp, Inc.<br>Consolidated Selected Financial Data<br>Unaudited | S&T Earnings Release - 8 | ||
|---|---|---|---|
| 2025 | 2025 | 2024 | |
| --- | --- | --- | --- |
| Second | First | Second | |
| (dollars in thousands) | Quarter | Quarter | Quarter |
| Net Interest Margin (FTE) (QTD Averages) | |||
| ASSETS | |||
| Interest-bearing deposits with banks | 120,156 | 128,739 | 143,521 |
| Securities, at fair value | 1,011,629 | 990,414 | 961,552 |
| Loans held for sale | — | — | 27 |
| Commercial real estate | 3,477,321 | 3,395,599 | 3,346,725 |
| Commercial and industrial | 1,519,133 | 1,535,235 | 1,606,173 |
| Commercial construction | 382,363 | 374,881 | 374,856 |
| Total Commercial Loans | 5,378,817 | 5,305,715 | 5,327,754 |
| Residential mortgage | 1,674,231 | 1,660,177 | 1,528,200 |
| Home equity | 670,066 | 653,113 | 644,545 |
| Installment and other consumer | 99,550 | 99,402 | 105,313 |
| Consumer construction | 41,025 | 45,157 | 72,899 |
| Total Consumer Loans | 2,484,872 | 2,457,849 | 2,350,957 |
| Total Portfolio Loans | 7,863,689 | 7,763,564 | 7,678,711 |
| Total Loans | 7,863,689 | 7,763,564 | 7,678,738 |
| Total other earning assets | 16,537 | 16,768 | 20,087 |
| Total Interest-earning Assets | 9,012,011 | 8,899,485 | 8,803,898 |
| Noninterest-earning assets | 712,891 | 727,176 | 756,552 |
| Total Assets | 9,724,902 | 9,626,661 | 9,560,450 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | |||
| Interest-bearing demand | 763,687 | 779,309 | 822,671 |
| Money market | 2,188,771 | 2,088,346 | 1,938,963 |
| Savings | 880,448 | 884,636 | 915,768 |
| Certificates of deposit | 1,872,329 | 1,860,840 | 1,774,037 |
| Total Interest-bearing Deposits | 5,705,235 | 5,613,131 | 5,451,439 |
| Short-term borrowings | 135,659 | 117,722 | 261,923 |
| Long-term borrowings | 50,866 | 50,886 | 39,099 |
| Junior subordinated debt securities | 49,439 | 49,423 | 49,379 |
| Total Borrowings | 235,964 | 218,031 | 350,401 |
| Total Other Interest-bearing Liabilities | 32,202 | 43,926 | 57,734 |
| Total Interest-bearing Liabilities | 5,973,401 | 5,875,088 | 5,859,574 |
| Noninterest-bearing liabilities | 2,315,213 | 2,350,574 | 2,397,606 |
| Shareholders' equity | 1,436,288 | 1,400,999 | 1,303,270 |
| Total Liabilities and Shareholders' Equity | 9,724,902 | 9,626,661 | 9,560,450 |
| Net Interest Margin(10) |
All values are in US Dollars.
- more -
| S&T Bancorp, Inc.<br>Consolidated Selected Financial Data<br>Unaudited | S&T Earnings Release - 9 | |
|---|---|---|
| Six Months Ended June 30, | ||
| --- | --- | --- |
| (dollars in thousands) | 2025 | 2024 |
| Net Interest Margin (FTE) (YTD Averages) | ||
| ASSETS | ||
| Interest-bearing deposits with banks | 124,423 | 144,079 |
| Securities, at fair value | 1,001,080 | 964,128 |
| Loans held for sale | — | 101 |
| Commercial real estate | 3,436,686 | 3,355,933 |
| Commercial and industrial | 1,527,139 | 1,616,403 |
| Commercial construction | 378,643 | 369,972 |
| Total Commercial Loans | 5,342,468 | 5,342,308 |
| Residential mortgage | 1,667,242 | 1,503,405 |
| Home equity | 661,636 | 646,405 |
| Installment and other consumer | 99,476 | 108,106 |
| Consumer construction | 43,080 | 71,288 |
| Total Consumer Loans | 2,471,434 | 2,329,204 |
| Total Portfolio Loans | 7,813,902 | 7,671,512 |
| Total Loans | 7,813,902 | 7,671,613 |
| Total other earning assets | 16,652 | 22,711 |
| Total Interest-earning Assets | 8,956,057 | 8,802,531 |
| Noninterest-earning assets | 719,996 | 747,147 |
| Total Assets | 9,676,053 | 9,549,678 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| Interest-bearing demand | 771,455 | 825,883 |
| Money market | 2,138,836 | 1,929,486 |
| Savings | 882,531 | 927,618 |
| Certificates of deposit | 1,866,616 | 1,706,548 |
| Total Interest-bearing deposits | 5,659,438 | 5,389,535 |
| Short-term borrowings | 126,740 | 335,137 |
| Long-term borrowings | 50,876 | 39,160 |
| Junior subordinated debt securities | 49,431 | 49,372 |
| Total Borrowings | 227,047 | 423,669 |
| Total Other Interest-bearing Liabilities | 38,032 | 54,986 |
| Total Interest-bearing Liabilities | 5,924,517 | 5,868,190 |
| Noninterest-bearing liabilities | 2,332,795 | 2,384,596 |
| Shareholders' equity | 1,418,741 | 1,296,892 |
| Total Liabilities and Shareholders' Equity | 9,676,053 | 9,549,678 |
| Net Interest Margin(8) |
All values are in US Dollars.
- more -
| S&T Bancorp, Inc.<br>Consolidated Selected Financial Data<br>Unaudited | S&T Earnings Release - 10 | | --- | --- || | 2025 | | 2025 | | 2024 | | | --- | --- | --- | --- | --- | --- | --- | | | Second | | First | | Second | | | (dollars in thousands) | Quarter | | Quarter | | Quarter | | | Nonaccrual Loans | | | | | | | | Commercial loans: | | % Loans | | % Loans | | % Loans | | Commercial real estate | $3,967 | 0.11% | $3,441 | 0.10% | $15,090 | 0.45% | | Commercial and industrial | 5,459 | 0.36% | 6,749 | 0.44% | 7,075 | 0.44% | | Commercial construction | 869 | 0.22% | 1,006 | 0.26% | 4,960 | 1.30% | | Total Nonaccrual Commercial Loans | 10,295 | 0.19% | 11,196 | 0.21% | 27,125 | 0.51% | | Consumer loans: | | | | | | | | Residential mortgage | 7,239 | 0.43% | 6,957 | 0.42% | 4,698 | 0.30% | | Home equity | 3,593 | 0.53% | 3,968 | 0.60% | 2,804 | 0.44% | | Installment and other consumer | 185 | 0.18% | 218 | 0.22% | 230 | 0.22% | | Total Nonaccrual Consumer Loans | 11,017 | 0.44% | 11,143 | 0.45% | 7,732 | 0.33% | | Total Nonaccrual Loans | $21,312 | 0.27% | $22,339 | 0.29% | $34,857 | 0.45% || | 2025 | 2025 | 2024 | | --- | --- | --- | --- | | | Second | First | Second | | (dollars in thousands) | Quarter | Quarter | Quarter | | Loan Charge-offs (Recoveries) | | | | | Charge-offs | $1,656 | $884 | $845 | | Recoveries | (498) | (911) | (1,233) | | Net Loan Charge-offs (Recoveries) | $1,158 | ($27) | ($388) | | Net Loan Charge-offs (Recoveries) | | | | | Commercial loans: | | | | | Commercial real estate | ($16) | ($146) | ($379) | | Commercial and industrial | 331 | 154 | (658) | | Commercial construction | 89 | 30 | — | | Total Commercial Loan Charge-offs (Recoveries) | 404 | 38 | (1,037) | | Consumer loans: | | | | | Residential mortgage | 13 | 13 | 33 | | Home equity | 160 | 19 | 274 | | Installment and other consumer | 581 | (97) | 342 | | Total Consumer Loan Charge-offs (Recoveries) | 754 | (65) | 649 | | Total Net Loan Charge-offs (Recoveries) | $1,158 | ($27) | ($388) |
- more -
| S&T Bancorp, Inc.<br>Consolidated Selected Financial Data<br>Unaudited | S&T Earnings Release - 11 | | --- | --- || | Six Months Ended June 30, | | | --- | --- | --- | | (dollars in thousands) | 2025 | 2024 | | Loan Charge-offs (Recoveries) | | | | Charge-offs | $2,540 | $7,784 | | Recoveries | (1,409) | (1,583) | | Net Loan Charge-offs | $1,131 | $6,201 | | Net Loan Charge-offs (Recoveries) | | | | Commercial loans: | | | | Commercial real estate | ($162) | $4,859 | | Commercial and industrial | 485 | 292 | | Commercial construction | 119 | — | | Total Commercial Loan Charge-offs | 442 | 5,151 | | Consumer loans: | | | | Residential mortgage | 26 | 40 | | Home equity | 179 | 379 | | Installment and other consumer | 484 | 631 | | Total Consumer Loan Charge-offs | 689 | 1,050 | | Total Net Loan Charge-offs | $1,131 | $6,201 | | | 2025 | 2025 | 2024 | | --- | --- | --- | --- | | | Second | First | Second | | (dollars in thousands) | Quarter | Quarter | Quarter | | Asset Quality Data | | | | | Nonaccrual loans | 21,312 | 22,339 | 34,857 | | OREO | — | 29 | 95 | | Total nonperforming assets | 21,312 | 22,368 | 34,952 | | Nonaccrual loans / total loans | 0.27 | 0.29 | 0.45 | | Nonperforming assets / total loans plus OREO | 0.27 | 0.29 | 0.45 | | Allowance for credit losses / total portfolio loans | 1.24 | 1.26 | 1.38 | | Allowance for credit losses / nonaccrual loans | 463 | 443 | 305 | | Net loan charge-offs (recoveries) | 1,158 | (27) | (388) | | Net loan charge-offs (recoveries) (annualized) / average loans | 0.06 | (0.00 | (0.02 |
All values are in US Dollars.
| Six Months Ended June 30, | ||
|---|---|---|
| (dollars in thousands) | 2025 | 2024 |
| Asset Quality Data | ||
| Net loan charge-offs | 1,131 | 6,201 |
| Net loan charge-offs / average loans | 0.03 | 0.16 |
All values are in US Dollars.
- more -
| S&T Bancorp, Inc.<br>Consolidated Selected Financial Data<br>Unaudited | S&T Earnings Release - 12 |
|---|
Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures:
| 2025 | 2025 | 2024 | |
|---|---|---|---|
| Second | First | Second | |
| (dollars in thousands, except per share data) | Quarter | Quarter | Quarter |
| (1) Tangible Book Value (non-GAAP) | |||
| Total shareholders' equity | 1,445,493 | 1,418,034 | 1,321,443 |
| Less: goodwill and other intangible assets, net of deferred tax liability | (375,522) | (375,646) | (376,154) |
| Tangible common equity (non-GAAP) | 1,069,971 | 1,042,388 | 945,289 |
| Common shares outstanding | 38,345,448 | 38,261,299 | 38,256,204 |
| Tangible book value (non-GAAP) | 27.90 | 27.24 | 24.71 |
| 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) | 127,951 | 135,460 | 138,239 |
| Plus: amortization of intangibles (annualized), net of tax | 653 | 772 | 921 |
| Net income before amortization of intangibles (annualized) | 128,604 | 136,232 | 139,160 |
| Average total shareholders' equity | 1,436,288 | 1,400,999 | 1,303,270 |
| Less: average goodwill and other intangible assets, net of deferred tax liability | (375,572) | (375,741) | (376,285) |
| Average tangible equity (non-GAAP) | 1,060,716 | 1,025,258 | 926,985 |
| Return on average tangible shareholders' equity (non-GAAP) | 12.12 | 13.29 | 15.01 |
| Return on average tangible shareholders' equity is a key profitability metric used by management to measure financial performance. | |||
| (3) Pre-provision Net Revenue / Average Assets (non-GAAP) | |||
| Income before taxes | 39,984 | 41,701 | 42,869 |
| Plus: net loss on sale of securities | — | 2,295 | 3,150 |
| Less: gain on Visa Class B-1 exchange | — | — | (3,156) |
| Plus: Provision for credit losses | 1,974 | (3,040) | 422 |
| Total | 41,958 | 40,956 | 43,285 |
| Total (annualized) (non-GAAP) | 168,293 | 166,099 | 174,091 |
| Average assets | 9,724,902 | 9,626,661 | 9,560,450 |
| Pre-provision Net Revenue / Average Assets (non-GAAP) | 1.73 | 1.73 | 1.82 |
| 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 evaluate our ability to fund credit losses or build capital. | |||
| (4) Efficiency Ratio (non-GAAP) | |||
| Noninterest expense | 58,114 | 55,091 | 53,608 |
| Net interest income per consolidated statements of net income | 86,572 | 83,323 | 83,594 |
| Plus: taxable equivalent adjustment | 590 | 617 | 682 |
| Net interest income (FTE) (non-GAAP) | 87,162 | 83,940 | 84,276 |
| Noninterest income | 13,500 | 10,429 | 13,305 |
| Plus: net loss (gain) on sale of securities | — | 2,295 | 3,150 |
| Less: gain on Visa Class B-1 exchange | — | — | (3,156) |
| Net interest income (FTE) (non-GAAP) plus noninterest income | 100,662 | 96,664 | 97,575 |
| Efficiency ratio (non-GAAP) | 57.73 | 56.99 | 54.94 |
| 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. |
All values are in US Dollars.
- more -
| S&T Bancorp, Inc.<br>Consolidated Selected Financial Data<br>Unaudited | S&T Earnings Release - 13 | |
|---|---|---|
| Six Months Ended June 30, | ||
| --- | --- | --- |
| (dollars in thousands) | 2025 | 2024 |
| (5) Return on Average Tangible Shareholders' Equity (non-GAAP) | ||
| Net income (annualized) | 131,684 | 131,941 |
| Plus: amortization of intangibles (annualized), net of tax | 712 | 932 |
| Net income before amortization of intangibles (annualized) | 132,396 | 132,873 |
| Average total shareholders' equity | 1,418,741 | 1,296,892 |
| Less: average goodwill and other intangible assets, net of deferred tax liability | (375,656) | (376,402) |
| Average tangible equity (non-GAAP) | 1,043,085 | 920,490 |
| Return on average tangible shareholders' equity (non-GAAP) | 12.69 | 14.44 |
| Return on average tangible shareholders' equity is a key profitability metric used by management to measure financial performance. | ||
| (6) Pre-provision Net Revenue / Average Assets (non-GAAP) | ||
| Income before taxes | 81,685 | 82,029 |
| Plus: net losses on sale of securities | 2,295 | 3,147 |
| Less: gain on Visa Class B-1 exchange | — | (3,156) |
| Plus: Provision for credit losses | (1,066) | 3,049 |
| Total | 82,914 | 85,069 |
| Total (annualized) (non-GAAP) | 167,202 | 171,073 |
| Average assets | 9,676,053 | 9,549,678 |
| Pre-provision Net Revenue / Average Assets (non-GAAP) | 1.73 | 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 evaluate our ability to fund credit losses or build capital. | ||
| (7) Efficiency Ratio (non-GAAP) | ||
| Noninterest expense | 113,205 | 108,128 |
| Net interest income per consolidated statements of net income | 169,895 | 167,071 |
| Plus: taxable equivalent adjustment | 1,208 | 1,375 |
| Net interest income (FTE) (non-GAAP) | 171,103 | 168,446 |
| Noninterest income | 23,929 | 26,135 |
| Plus: net losses on sale of securities | 2,295 | 3,147 |
| Less: gain on Visa Class B-1 exchange | — | (3,156) |
| Net interest income (FTE) (non-GAAP) plus noninterest income | 197,327 | 194,572 |
| Efficiency ratio (non-GAAP) | 57.37 | 55.57 |
| 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 Rate (FTE) (non-GAAP) | ||
| Interest income and dividend income | 253,754 | 256,519 |
| Less: interest expense | (83,859) | (89,448) |
| Net interest income per consolidated statements of net income | 169,895 | 167,071 |
| Plus: taxable equivalent adjustment | 1,208 | 1,375 |
| Net interest income (FTE) (non-GAAP) | 171,103 | 168,446 |
| Net interest income (FTE) (annualized) | 345,042 | 338,743 |
| Average interest-earning assets | 8,956,057 | 8,802,531 |
| Net interest margin - (FTE) (non-GAAP) | 3.84 | 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. |
All values are in US Dollars.
- more -
| S&T Bancorp, Inc.<br>Consolidated Selected Financial Data<br>Unaudited | S&T Earnings Release - 14 |
|---|
Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures:
| 2025 | 2025 | 2024 | |
|---|---|---|---|
| Second | First | Second | |
| (dollars in thousands) | Quarter | Quarter | Quarter |
| (9) Tangible Common Equity / Tangible Assets (non-GAAP) | |||
| Total shareholders' equity | 1,445,493 | 1,418,034 | 1,321,443 |
| Less: goodwill and other intangible assets, net of deferred tax liability | (375,522) | (375,646) | (376,154) |
| Tangible common equity (non-GAAP) | 1,069,971 | 1,042,388 | 945,289 |
| Total assets | 9,810,069 | 9,718,276 | 9,635,462 |
| Less: goodwill and other intangible assets, net of deferred tax liability | (375,522) | (375,646) | (376,154) |
| Tangible assets (non-GAAP) | 9,434,547 | 9,342,630 | 9,259,308 |
| Tangible common equity to tangible assets (non-GAAP) | 11.34 | 11.16 | 10.21 |
| Tangible common equity to tangible assets is a preferred industry measurement to evaluate capital adequacy. | |||
| (10) Net Interest Margin Rate (FTE) (non-GAAP) | |||
| Interest income and dividend income | 128,906 | 124,848 | 128,765 |
| Less: interest expense | (42,334) | (41,525) | (45,171) |
| Net interest income per consolidated statements of net income | 86,572 | 83,323 | 83,594 |
| Plus: taxable equivalent adjustment | 590 | 617 | 682 |
| Net interest income (FTE) (non-GAAP) | 87,162 | 83,940 | 84,276 |
| Net interest income (FTE) (annualized) | 349,606 | 340,423 | 338,956 |
| Average interest-earning assets | 9,012,011 | 8,899,485 | 8,803,898 |
| Net interest margin (FTE) (non-GAAP) | 3.88 | 3.81 | 3.85 |
| 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. |
All values are in US Dollars.
ex992earningssupplements
Second Quarter 2025 Earnings Supplement
Forward Looking Statements and Risk Factors 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 the traditional measures presented in accordance with Generally Accepted Accounting Principles (GAAP), S&T management uses and this presentation contains or references certain non-GAAP financial measures, such as net interest income on a fully taxable equivalent basis. S&T believes these non-GAAP financial measures provide information useful to investors in understanding our underlying business, operational performance and performance trends which facilitate comparisons with the performance of others in the financial services industry. Although S&T believes that these non-GAAP financial measures enhance investors’ understanding of S&T’s business and performance, these non-GAAP financial measures should not be considered an alternative 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. The non-GAAP financial measures contained within this presentation should be read in conjunction with the audited financial statements and analysis as presented in the Annual Report on Form 10-K as well as the unaudited financial statements and analyses as presented in the respective Quarterly Reports in Exhibit 99.1 of Form 8-K for S&T Bancorp, Inc. and subsidiaries. 2
3 Second Quarter Overview RETURN METRICS EARNINGS Net Income $31.9 million *Refer to appendix for reconciliation of non-GAAP financial measures EPS $0.83 ROA 1.32% ROE 8.91% ROTE* 12.12% PPNR* 1.73% HIGHLIGHTS • Strong earnings and return metrics • Net interest income growth of 3.90% • NIM expansion of 7 basis points to 3.88% • Solid loan growth • Stable asset quality metrics ACL 1.24% NCO 0.06% ASSET QUALITY NPA 0.27% NIM* 3.88% Efficiency Ratio* 57.73% BALANCE SHEET Loan growth $98.1 million 5.02% (annualized) Deposit growth $28.0 million 1.42% (annualized) OTHER
4 Balance Sheet • Loan growth of $98.1 million (5.02% annualized); $67.3 million of commercial and $30.8 million of consumer growth • Customer deposit growth of $28.0 million (1.42% annualized) • DDA increased $18 million and comprises 28% of total deposits Dollars in millions 2Q25 1Q25 Var $ 203 $ 212 $ (9) 1,021 1,011 10 7,934 7,836 98 7,921 7,893 28 250 195 55 (100) (50) 0 50 100 Cash & Int Bear Bal Securities Loans Total Deposits Borrowings 2Q25 vs 1Q25: 2Q25 vs 1Q25 DEPOSIT CHANGES DECREASES/INCREASES
5 Asset Quality ACL Trend: Dollars in millions ASSET QUALITY TRENDS • ACL decreased 2 basis points to 1.24% compared to 1.26% at March 31, 2025 • Net loan charge-offs of only $1.2 million, or 0.06% of total loans • NPAs decreased 2 basis points to 0.27% of total portfolio loans plus OREO % o f A verage Lo ans Net Loan Charge-offs/(Recoveries) 2Q24 3Q24 4Q24 1Q25 2Q25 $(2) $0 $2 $4 $6 $8 (0.20)% 0.00% 0.20% 0.40% 0.60% 0.80% % o f Po rtfo lio Lo ans and O R EO Nonperforming Assets 2Q24 3Q24 4Q24 1Q25 2Q25 $0 $20 $40 $60 0.00% 0.25% 0.50% 0.75% % o f G ro ss Lo ans ACL 2Q24 3Q24 4Q24 1Q25 2Q25 $0 $20 $40 $60 $80 $100 $120 0.00% 0.25% 0.50% 0.75% 1.00% 1.25% 1.50%
6 Net Interest Income Dollars in millions; *Refer to appendix for reconciliation of non-GAAP financial measures $83.6 $84.5 $83.3 $83.3 $86.6 3.85% 3.82% 3.77% 3.81% 3.88% NII NIM FTE* 2Q24 3Q24 4Q24 1Q25 2Q25 Total Cost of Funds 0.05% 0.07% (0.11)% (0.12)% 2.24% 2.31% 2.20% 2.08% 2.08% Changes in Cost of Funds Cost of Funds 2Q24 3Q24 4Q24 1Q25 2Q25 • Net interest income growth of $3.3 million, or 3.90%, compared to 1Q25 • NIM expansion of 7 basis points to 3.88% • Cost of funds remains stable 0.00%
7 2Q25 2Q25 vs 1Q25 2Q25 vs 2Q24 Debit and Credit Card $4.6 $0.4 ($0.1) Service Charges 4.1 0.1 — Wealth Management 3.0 — — Loss on Sale of Securities — 2.3 3.2 Other 1.8 0.3 (2.9) Noninterest Income $13.5 $3.1 $0.2 Noninterest Income Dollars in millions • Customer activity seasonally higher compared to 1Q25 • No securities repositioning in 2Q25 $16.5 $14.1 $13.7 $12.7
8 2Q25 2Q25 vs 1Q25 2Q25 vs 2Q24 Salaries & Benefits $32.9 $3.0 $2.5 Data Processing 4.8 (0.1) 0.6 Occupancy 4.0 (0.3) 0.4 FF&E 3.4 (0.1) — Other Taxes 2.1 0.6 0.7 Professional Services 1.7 0.5 0.3 Marketing 1.5 (0.1) 0.1 FDIC 1.1 — — Other 6.6 (0.5) (0.1) Noninterest Expense $58.1 $3.0 $4.5 Noninterest Expense Dollars in millions; *Refer to appendix for reconciliation of non-GAAP financial measures • Salaries & benefits increased primarily due to annual merit increases, higher incentives and medical costs
9 Capital Dollars in millions; *Refer to appendix for reconciliation of non-GAAP financial measures TCE / TA* • We have strong capital levels and are well positioned for growth • TCE / TA higher from prior quarter due to lower AOCI and strong earnings 10.21% 10.86% 10.82% 11.16% 11.34% 2Q24 3Q24 4Q24 1Q25 2Q25
2Q25 (Dollars in thousands) Return on Average Tangible Shareholders' Equity (ROTE) (non-GAAP) Net income (annualized) $127,951 Plus: amortization of intangibles (annualized), net of tax 653 Net income before amortization of intangibles (annualized) $128,604 Average total shareholders' equity $1,436,288 Less: average goodwill and other intangible assets, net of deferred tax liability (375,572) Average tangible equity (non-GAAP) $1,060,716 Return on average tangible shareholders' equity (non-GAAP) 12.12 % Return on average tangible shareholders' equity is a key profitability metric used by management to measure financial performance. Pre-provision Net Revenue (PPNR)/Average Assets (non-GAAP) Income before taxes $39,984 Plus: Provision for credit losses 1,974 Total $41,958 Total (annualized) (non-GAAP) $168,293 Average assets $9,724,902 PPNR/Average Assets (non-GAAP) 1.73 % Pre-provision net revenue to average assets is income before taxes adjusted to exclude provision for credit losses. We believe this to be a preferred industry measurement to help evaluate our ability to fund credit losses or build capital. Appendix Definitions of GAAP to Non-GAAP Financial Measures 10
2Q25 1Q25 4Q24 3Q24 2Q24 (Dollars in thousands) Tangible Common Equity (TCE)/Tangible Assets (non-GAAP) Total shareholders' equity $1,445,493 $1,418,034 $1,380,294 $1,375,754 $1,321,443 Less: goodwill and other intangible assets, net of deferred tax liability (375,522) (375,646) (375,837) (375,931) (376,154) Tangible common equity (non-GAAP) $1,069,971 $1,042,388 $1,004,457 $999,823 $945,289 Total assets $9,810,069 $9,718,276 $9,657,972 $9,583,947 $9,635,462 Less: goodwill and other intangible assets, net of deferred tax liability (375,522) (375,646) (375,837) (375,931) (376,154) Tangible assets (non-GAAP) $9,434,547 $9,342,630 $9,282,135 $9,208,016 $9,259,308 Tangible common equity to tangible assets (non-GAAP) 11.34 % 11.16 % 10.82 % 10.86 % 10.21 % Tangible common equity to tangible assets is a preferred industry measurement to evaluate capital adequacy. Efficiency Ratio (non-GAAP) Noninterest expense $58,114 $55,091 $55,445 $55,365 $53,608 Net interest income $86,572 $83,323 $83,258 $84,477 $83,594 Plus: taxable equivalent adjustment 590 617 660 671 682 Net interest income (FTE) (non-GAAP) 87,162 83,940 83,918 85,148 84,276 Noninterest income 13,500 10,429 11,071 11,877 13,305 Plus: net loss on sale of securities — 2,295 2,592 2,199 3,150 Less: gain on Visa Class B-1 exchange — — (186) (150) (3,156) Net interest income (FTE) (non-GAAP) plus noninterest income $100,662 $96,664 $97,395 $99,074 $97,575 Efficiency ratio (non-GAAP) 57.73 % 56.99 % 56.93 % 55.88 % 54.94 % The efficiency ratio is noninterest expense divided by noninterest income plus net interest income, on an FTE basis (non-GAAP), adjusted to exclude losses 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. Net Interest Margin Rate (NIM) (FTE) (non-GAAP) Interest income and dividend income $128,906 $124,848 $127,879 $131,474 $128,765 Less: interest expense (42,334) (41,525) (44,621) (46,997) (45,171) Net interest income 86,572 83,323 83,258 84,477 83,594 Plus: taxable equivalent adjustment 590 617 660 671 682 Net interest income (FTE) (non-GAAP) $87,162 $83,940 $83,918 $85,148 $84,276 Net interest income (FTE) (annualized) $349,606 $340,423 $333,848 $338,741 $338,956 Average interest-earning assets $9,012,011 $8,899,485 $8,860,338 $8,875,757 $8,803,898 Net interest margin (FTE) (non-GAAP) 3.88 % 3.81 % 3.77 % 3.82 % 3.85 % 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. Appendix Definitions of GAAP to Non-GAAP Financial Measures 11
Second Quarter 2025 Earnings Supplement