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
October 23, 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 October 23, 2025 S&T Bancorp Inc. (S&T) announced by press release its earnings for the three and nine months ended September 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 nine months ended September 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 | |
| October 23, 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 Third Quarter 2025 Results
INDIANA, Pa., - October 23, 2025 – S&T Bancorp, Inc. (S&T) (NASDAQ: STBA), the holding company for S&T Bank, announced net income of $35.0 million, or $0.91 per diluted share, for the third quarter of 2025 compared to net income of $31.9 million, or $0.83 per diluted share, for the second quarter of 2025 and net income of $32.6 million, or $0.85 per diluted share, for the third quarter of 2024.
Third Quarter of 2025 Highlights:
•Strong return metrics with return on average assets (ROA) of 1.42%, return on average equity (ROE) of 9.48% and return on average tangible equity (ROTE) (non-GAAP) of 12.81% compared to ROA of 1.32%, ROE of 8.91% and ROTE (non-GAAP) of 12.12% for the second quarter of 2025.
•Pre-provision net revenue to average assets (PPNR) (non-GAAP) increased 16 basis points to 1.89% compared to 1.73% for the second quarter of 2025.
•Net interest income growth of $2.6 million, or 3.00%, and net interest margin on a fully taxable equivalent basis (NIM) (FTE) (non-GAAP) expansion of 5 basis points to 3.93% compared to 3.88% in the second quarter of 2025.
•Total portfolio loans increased $46.6 million, or 2.33% annualized, compared to June 30, 2025.
•Net charge-offs were $2.4 million, or 0.12% of average loans, compared to net charge-offs of $1.2 million, or 0.06% of average loans, in the second quarter of 2025.
"We delivered another solid quarter with strong return metrics thanks to the efforts of our team and their commitment to our people-forward banking purpose," said Chris McComish, chief executive officer. "Our results reflect improving revenue gains supported by net interest margin expansion. We continue to build robust capital levels which provide us financial flexibility for future growth."
Net Interest Income
Net interest income increased $2.6 million, or 3.00%, to $89.2 million in the third quarter of 2025 compared to $86.6 million in the second quarter of 2025. Average interest-earning assets increased $88.2 million to $9.1 billion in the third quarter of 2025 compared to $9.0 billion in the second quarter of 2025. NIM (FTE) (non-GAAP) expanded 5 basis points to 3.93% compared to 3.88% in the prior quarter. The yield on average total interest-earning assets increased 1 basis point to 5.77% compared to 5.76% in the second quarter of 2025. Total interest-bearing liability costs decreased 3 basis points to 2.81% compared to 2.84% in the second quarter of 2025 mainly due to the repricing of certificates of deposits.
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S&T Earnings Release - 2
Asset Quality
The allowance for credit losses, or ACL, was $98.2 million, or 1.23% of total portfolio loans, at September 30, 2025 compared to $98.6 million, or 1.24%, at June 30, 2025. The provision for credit losses was $2.8 million for the third quarter of 2025 compared to $2.0 million in the second quarter of 2025. Net charge-offs were $2.4 million, or 0.12% of average loans, compared to net charge-offs of $1.2 million, or 0.06% of average loans in the second quarter of 2025. Nonperforming assets (NPAs) increased $28.3 million to $49.6 million, or 0.62% of total loans plus OREO, compared to $21.3 million, or 0.27%, at June 30, 2025. Total NPAs remain at a manageable level.
Noninterest Income and Expense
Noninterest income was relatively unchanged at $13.8 million in the third quarter of 2025 compared to $13.5 million in the second quarter of 2025. Total noninterest expense decreased $1.7 million to $56.4 million compared to $58.1 million in the second quarter of 2025. Salaries and employee benefits decreased $0.7 million primarily related to lower incentive and medical costs compared to the second quarter of 2025. Professional services and legal decreased $0.5 million due to lower consulting fees compared to the second quarter of 2025.
Financial Condition
Total assets were $9.8 billion at both September 30, 2025 and June 30, 2025. Total portfolio loans increased $46.6 million, or 2.33% annualized, compared to June 30, 2025. The commercial loan portfolio increased $9.9 million with growth in commercial real estate of $133.5 million offset by decreases in commercial construction of $77.6 million and a decrease in commercial and industrial of $46.0 million compared to June 30, 2025. The consumer loan portfolio increased $36.6 million compared to June 30, 2025 primarily as a result of growth in residential mortgage of $21.6 million and in home equity of $17.7 million. Total deposits increased $1.0 million, or 0.05% annualized, compared to June 30, 2025. Noninterest-bearing demand increased $6.4 million, interest-bearing demand $7.7 million and CDs $39.8 million, offset by decreases in money market of $41.6 million and savings of $11.2 million compared to June 30, 2025.
S&T continues to maintain a strong regulatory capital position with all capital ratios above the well-capitalized thresholds of federal bank regulatory agencies.
Conference Call
S&T will host its third quarter 2025 earnings conference call live via webcast at 1:00 p.m. ET, Thursday, October 23, 2025. To access the webcast, go to S&T Bancorp Inc.’s Investor Relations webpage stbancorp.com. After the live presentation, the webcast will be archived at stbancorp.com for 12 months.
About S&T Bancorp, Inc. and S&T Bank
S&T Bancorp, Inc. is a $9.8 billion bank holding company that is headquartered in Indiana, Pennsylvania and trades on the NASDAQ Global Select Market under the symbol STBA. Its principal subsidiary, S&T Bank, was established in 1902 and operates in Pennsylvania and Ohio. For more information, visit stbancorp.com or stbank.com. Follow us on Facebook, Instagram and LinkedIn.
Forward-Looking Statements
This information contains or incorporates statements that we believe are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to our financial condition, results of operations, plans, objectives, outlook for earnings, revenues, expenses, capital and
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S&T Earnings Release - 3
liquidity levels and ratios, asset levels, asset quality, financial position and other matters regarding or affecting S&T and its future business and operations. Forward-looking statements are typically identified by words or phrases such as “will likely result,” “expect,” “anticipate,” “estimate,” “forecast,” “project,” “intend,” “believe,” “assume,” “strategy,” “trend,” “plan,” “outlook,” “outcome,” “continue,” “remain,” “potential,” “opportunity,” “comfortable,” “current,” “position,” “maintain,” “sustain,” “seek,” “achieve” and variations of such words and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could” or “may.” Although we believe the assumptions upon which these forward-looking statements are based are reasonable, any of these assumptions could prove to be inaccurate and the forward-looking statements based on these assumptions could be incorrect. The matters discussed in these forward-looking statements are subject to various risks, uncertainties and other factors that could cause actual results and trends to differ materially from those made, projected or implied in or by the forward-looking statements depending on a variety of uncertainties or other factors including, but not limited to: credit losses and the credit risk of our commercial and consumer loan products; changes in the level of charge-offs and changes in estimates of the adequacy of the allowance for credit losses, or ACL; cybersecurity concerns; rapid technological developments and changes; operational risks or risk management failures by us or critical third parties, including fraud risk; our ability to manage our reputational risks; sensitivity to the interest rate environment, a rapid increase in interest rates or a change in the shape of the yield curve; a change in spreads on interest-earning assets and interest-bearing liabilities; regulatory supervision and oversight, including changes in regulatory capital requirements and our ability to address those requirements; unanticipated changes in our liquidity position; unanticipated changes in regulatory and governmental policies impacting interest rates and financial markets; changes in accounting policies, practices or guidance; legislation affecting the financial services industry as a whole, and S&T, in particular; developments affecting the industry and the soundness of financial institutions and further disruption to the economy and U.S. banking system; the outcome of pending and future litigation and governmental proceedings; increasing price and product/service competition; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; managing our internal growth and acquisitions; the possibility that the anticipated benefits from acquisitions cannot be fully realized in a timely manner or at all, or that integrating the acquired operations will be more difficult, disruptive or costly than anticipated; containing costs and expenses; reliance on significant customer relationships; an interruption or cessation of an important service by a third-party provider; our ability to attract and retain talented executives and other employees; general economic or business conditions, including the strength of regional economic conditions in our market area; ESG practices and disclosures, including climate change, hiring practices, the diversity of the work force and racial and social justice issues; deterioration of the housing market and reduced demand for mortgages; deterioration in the overall macroeconomic conditions or the state of the banking industry that could warrant further analysis of the carrying value of goodwill and could result in an adjustment to its carrying value resulting in a non-cash charge to net income; the stability of our core deposit base and access to contingency funding; re-emergence of turbulence in significant portions of the global financial and real estate markets that could impact our performance, both directly, by affecting our revenues and the value of our assets and liabilities, and indirectly, by affecting the economy generally and access to capital in the amounts, at the times and on the terms required to support our future businesses and geopolitical tensions and conflicts between nations.
Many of these factors, as well as other factors, are described in our Annual Report on Form 10-K for the year ended December 31, 2024, including Part I, Item 1A-"Risk Factors" and any of our subsequent filings with the SEC. Forward-looking statements are based on beliefs and assumptions using information available at the time the statements are made. We caution you not to unduly rely on forward-looking statements because the assumptions, beliefs, expectations and projections about future events may, and often do, differ materially from actual results. Any forward-looking
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statement speaks only as to the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect developments occurring after the statement is made.
Non-GAAP Financial Measures
In addition to traditional measures presented in accordance with GAAP, our management uses, and this information contains or references, certain non-GAAP financial measures, such as tangible book value, return on average tangible shareholder's equity, PPNR to average assets, efficiency ratio on an FTE basis, tangible common equity to tangible assets and net interest margin on an FTE basis. We believe these non-GAAP financial measures provide information useful to investors in understanding our underlying operational performance and our business and performance trends as they facilitate comparisons with the performance of other companies in the financial services industry. Although we believe that these non-GAAP financial measures enhance investors’ understanding of our business and performance, these non-GAAP financial measures should not be considered alternatives to GAAP or considered to be more important than financial results determined in accordance with GAAP, nor are they necessarily comparable with non-GAAP measures which may be presented by other companies. See Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures for more information related to these financial measures.
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| S&T Bancorp, Inc.<br>Consolidated Selected Financial Data<br>Unaudited | S&T Earnings Release - 5 | ||
|---|---|---|---|
| 2025 | 2025 | 2024 | |
| --- | --- | --- | --- |
| Third | Second | Third | |
| (dollars in thousands, except per share data) | Quarter | Quarter | Quarter |
| INTEREST AND DIVIDEND INCOME | |||
| Loans, including fees | 120,321 | 117,696 | 120,907 |
| Investment Securities: | |||
| Taxable | 10,994 | 10,846 | 10,221 |
| Tax-exempt | 34 | 35 | 165 |
| Dividends | 274 | 329 | 181 |
| Total Interest and Dividend Income | 131,623 | 128,906 | 131,474 |
| INTEREST EXPENSE | |||
| Deposits | 39,864 | 39,056 | 42,493 |
| Borrowings, junior subordinated debt securities and other | 2,518 | 3,278 | 4,504 |
| Total Interest Expense | 42,382 | 42,334 | 46,997 |
| NET INTEREST INCOME | 89,241 | 86,572 | 84,477 |
| Provision for credit losses | 2,792 | 1,974 | (454) |
| Net Interest Income After Provision for Credit Losses | 86,449 | 84,598 | 84,931 |
| NONINTEREST INCOME | |||
| Loss on sale of securities | — | — | (2,199) |
| Debit and credit card | 4,722 | 4,588 | 4,688 |
| Service charges on deposit accounts | 4,175 | 4,090 | 4,181 |
| Wealth management | 3,118 | 3,042 | 3,071 |
| Other | 1,748 | 1,780 | 2,136 |
| Total Noninterest Income | 13,763 | 13,500 | 11,877 |
| NONINTEREST EXPENSE | |||
| Salaries and employee benefits | 32,180 | 32,907 | 31,274 |
| Data processing and information technology | 4,901 | 4,847 | 5,003 |
| Occupancy | 4,014 | 4,024 | 3,828 |
| Furniture, equipment and software | 3,225 | 3,352 | 3,410 |
| Other taxes | 2,088 | 2,088 | 1,874 |
| Marketing | 1,255 | 1,490 | 1,382 |
| Professional services and legal | 1,199 | 1,739 | 1,229 |
| FDIC insurance | 1,071 | 1,062 | 1,054 |
| Other noninterest expense | 6,443 | 6,605 | 6,311 |
| Total Noninterest Expense | 56,376 | 58,114 | 55,365 |
| Income Before Taxes | 43,836 | 39,984 | 41,443 |
| Income tax expense | 8,874 | 8,084 | 8,853 |
| Net Income | 34,962 | 31,900 | 32,590 |
| Per Share Data | |||
| Shares outstanding at end of period | 38,350,500 | 38,345,448 | 38,259,730 |
| Average shares outstanding - diluted | 38,595,118 | 38,637,400 | 38,560,409 |
| Diluted earnings per share | 0.91 | 0.83 | 0.85 |
| Dividends declared per share | 0.34 | 0.34 | 0.33 |
| Dividend yield (annualized) | 3.62 | 3.60 | 3.15 |
| Dividends paid to net income | 37.35 | 41.30 | 38.77 |
| Book value | 38.47 | 37.70 | 35.96 |
| Tangible book value (non-GAAP) (1) | 28.69 | 27.90 | 26.13 |
| Market value | 37.59 | 37.82 | 41.97 |
| Profitability Ratios (Annualized) | |||
| Return on average assets | 1.42 | 1.32 | 1.35 |
| Return on average shareholders' equity | 9.48 | 8.91 | 9.58 |
| Return on average tangible shareholders' equity (non-GAAP)(2) | 12.81 | 12.12 | 13.35 |
| Pre-provision net revenue / average assets (non-GAAP)(3) | 1.89 | 1.73 | 1.78 |
| Efficiency ratio (FTE) (non-GAAP)(4) | 54.41 | 57.73 | 55.88 |
All values are in US Dollars.
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| S&T Bancorp, Inc.<br>Consolidated Selected Financial Data<br>Unaudited | S&T Earnings Release - 6 | |
|---|---|---|
| Nine Months Ended September 30, | ||
| --- | --- | --- |
| (dollars in thousands, except per share data) | 2025 | 2024 |
| INTEREST AND DIVIDEND INCOME | ||
| Loans, including fees | 352,357 | 359,048 |
| Investment Securities: | ||
| Taxable | 31,913 | 27,577 |
| Tax-exempt | 226 | 526 |
| Dividends | 881 | 842 |
| Total Interest and Dividend Income | 385,377 | 387,993 |
| INTEREST EXPENSE | ||
| Deposits | 117,274 | 118,784 |
| Borrowings, junior subordinated debt securities and other | 8,967 | 17,661 |
| Total Interest Expense | 126,241 | 136,445 |
| NET INTEREST INCOME | 259,136 | 251,548 |
| Provision for credit losses | 1,726 | 2,595 |
| Net Interest Income After Provision for Credit Losses | 257,410 | 248,953 |
| NONINTEREST INCOME | ||
| Loss on sale of securities | (2,295) | (5,346) |
| Debit and credit card | 13,498 | 13,636 |
| Service charges on deposit accounts | 12,227 | 12,098 |
| Wealth management | 9,244 | 9,108 |
| Other | 5,018 | 8,516 |
| Total Noninterest Income | 37,692 | 38,012 |
| NONINTEREST EXPENSE | ||
| Salaries and employee benefits | 94,940 | 91,174 |
| Data processing and information technology | 14,678 | 14,172 |
| Occupancy | 12,340 | 11,347 |
| Furniture, equipment and software | 10,060 | 10,264 |
| Other Taxes | 5,670 | 5,178 |
| Marketing | 4,360 | 4,729 |
| Professional services and legal | 4,224 | 4,352 |
| FDIC insurance | 3,173 | 3,156 |
| Other noninterest expense | 20,136 | 19,121 |
| Total Noninterest Expense | 169,581 | 163,493 |
| Income Before Taxes | 125,521 | 123,472 |
| Income tax expense | 25,258 | 25,272 |
| Net Income | 100,263 | 98,200 |
| Per Share Data | ||
| Average shares outstanding - diluted | 38,611,041 | 38,566,858 |
| Diluted earnings per share | 2.60 | 2.55 |
| Dividends declared per share | 1.02 | 0.99 |
| Dividends paid to net income | 39.15 | 38.66 |
| Profitability Ratios (annualized) | ||
| Return on average assets | 1.38 | 1.37 |
| Return on average shareholders' equity | 9.35 | 9.97 |
| Return on average tangible shareholders' equity (non-GAAP)(5) | 12.73 | 14.06 |
| Pre-provision net revenue / average assets (non-GAAP)(6) | 1.78 | 1.79 |
| Efficiency ratio (FTE) (non-GAAP)(7) | 56.35 | 55.68 |
All values are in US Dollars.
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| S&T Bancorp, Inc.<br>Consolidated Selected Financial Data<br>Unaudited | S&T Earnings Release - 7 | ||
|---|---|---|---|
| 2025 | 2025 | 2024 | |
| --- | --- | --- | --- |
| Third | Second | Third | |
| (dollars in thousands) | Quarter | Quarter | Quarter |
| ASSETS | |||
| Cash and due from banks | 196,228 | 203,118 | 228,090 |
| Securities available for sale, at fair value | 1,001,149 | 1,021,183 | 1,011,312 |
| Loans held for sale | — | — | 307 |
| Commercial loans: | |||
| Commercial real estate | 3,653,790 | 3,520,294 | 3,327,895 |
| Commercial and industrial | 1,466,075 | 1,512,027 | 1,548,172 |
| Commercial construction | 320,190 | 397,785 | 386,509 |
| Total Commercial Loans | 5,440,055 | 5,430,106 | 5,262,576 |
| Consumer loans: | |||
| Residential mortgage | 1,700,636 | 1,678,992 | 1,612,629 |
| Home equity | 698,886 | 681,143 | 645,966 |
| Installment and other consumer | 102,600 | 100,177 | 105,235 |
| Consumer construction | 38,830 | 44,016 | 62,648 |
| Total Consumer Loans | 2,540,952 | 2,504,328 | 2,426,478 |
| Total Portfolio Loans | 7,981,007 | 7,934,434 | 7,689,054 |
| Allowance for credit losses | (98,155) | (98,580) | (104,321) |
| Total Portfolio Loans, Net | 7,882,852 | 7,835,854 | 7,584,733 |
| Federal Home Loan Bank and other restricted stock, at cost | 15,042 | 15,817 | 11,484 |
| Goodwill | 373,424 | 373,424 | 373,424 |
| Other Intangible assets, net | 2,450 | 2,656 | 3,173 |
| Other assets | 346,338 | 358,017 | 371,424 |
| Total Assets | 9,817,483 | 9,810,069 | 9,583,947 |
| LIABILITIES | |||
| Deposits: | |||
| Noninterest-bearing demand | 2,188,699 | 2,182,346 | 2,157,537 |
| Interest-bearing demand | 745,904 | 738,251 | 773,224 |
| Money market | 2,194,702 | 2,236,298 | 2,074,095 |
| Savings | 868,019 | 879,254 | 879,653 |
| Certificates of deposit | 1,924,619 | 1,884,771 | 1,770,332 |
| Total Deposits | 7,921,943 | 7,920,920 | 7,654,841 |
| Borrowings: | |||
| Short-term borrowings | 135,000 | 150,000 | 225,000 |
| Long-term borrowings | 50,836 | 50,856 | 64,015 |
| Junior subordinated debt securities | 49,463 | 49,448 | 49,403 |
| Total Borrowings | 235,299 | 250,304 | 338,418 |
| Other liabilities | 184,775 | 193,352 | 214,934 |
| Total Liabilities | 8,342,017 | 8,364,576 | 8,208,193 |
| SHAREHOLDERS’ EQUITY | |||
| Total Shareholders’ Equity | 1,475,466 | 1,445,493 | 1,375,754 |
| Total Liabilities and Shareholders’ Equity | 9,817,483 | 9,810,069 | 9,583,947 |
| Capitalization Ratios | |||
| Shareholders' equity / assets | 15.03 | 14.73 | 14.35 |
| Tangible common equity / tangible assets (non-GAAP)(9) | 11.65 | 11.34 | 10.86 |
| Tier 1 leverage ratio | 12.33 | 12.18 | 11.70 |
| Common equity tier 1 capital | 14.75 | 14.59 | 14.37 |
| Risk-based capital - tier 1 | 15.06 | 14.91 | 14.70 |
| Risk-based capital - total | 16.63 | 16.48 | 16.28 |
All values are in US Dollars.
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| S&T Bancorp, Inc.<br>Consolidated Selected Financial Data<br>Unaudited | S&T Earnings Release - 8 | ||
|---|---|---|---|
| 2025 | 2025 | 2024 | |
| --- | --- | --- | --- |
| Third | Second | Third | |
| (dollars in thousands) | Quarter | Quarter | Quarter |
| Net Interest Margin (FTE) (non-GAAP) (QTD Averages) | |||
| ASSETS | |||
| Interest-bearing deposits with banks | 128,236 | 120,156 | 200,301 |
| Securities, at fair value | 1,011,624 | 1,011,629 | 990,375 |
| Loans held for sale | 18 | — | 20 |
| Commercial real estate | 3,564,071 | 3,477,321 | 3,298,619 |
| Commercial and industrial | 1,485,816 | 1,519,133 | 1,566,145 |
| Commercial construction | 379,167 | 382,363 | 406,321 |
| Total Commercial Loans | 5,429,054 | 5,378,817 | 5,271,085 |
| Residential mortgage | 1,688,697 | 1,674,231 | 1,589,791 |
| Home equity | 687,639 | 670,066 | 642,384 |
| Installment and other consumer | 100,551 | 99,550 | 103,390 |
| Consumer construction | 40,612 | 41,025 | 62,998 |
| Total Consumer Loans | 2,517,499 | 2,484,872 | 2,398,563 |
| Total Portfolio Loans | 7,946,553 | 7,863,689 | 7,669,648 |
| Total Loans | 7,946,571 | 7,863,689 | 7,669,668 |
| Total other earning assets | 13,808 | 16,537 | 15,413 |
| Total Interest-earning Assets | 9,100,239 | 9,012,011 | 8,875,757 |
| Noninterest-earning assets | 699,840 | 712,891 | 744,609 |
| Total Assets | 9,800,079 | 9,724,902 | 9,620,366 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | |||
| Interest-bearing demand | 742,817 | 763,687 | 785,854 |
| Money market | 2,247,331 | 2,188,771 | 2,051,754 |
| Savings | 873,968 | 880,448 | 891,952 |
| Certificates of deposit | 1,915,006 | 1,872,329 | 1,825,530 |
| Total Interest-bearing Deposits | 5,779,122 | 5,705,235 | 5,555,090 |
| Short-term borrowings | 73,538 | 135,659 | 202,500 |
| Long-term borrowings | 50,846 | 50,866 | 40,383 |
| Junior subordinated debt securities | 49,454 | 49,439 | 49,394 |
| Total Borrowings | 173,838 | 235,964 | 292,277 |
| Total Other Interest-bearing Liabilities | 28,049 | 32,202 | 41,038 |
| Total Interest-bearing Liabilities | 5,981,009 | 5,973,401 | 5,888,405 |
| Noninterest-bearing liabilities | 2,355,972 | 2,315,213 | 2,377,914 |
| Shareholders' equity | 1,463,098 | 1,436,288 | 1,354,047 |
| Total Liabilities and Shareholders' Equity | 9,800,079 | 9,724,902 | 9,620,366 |
| Net Interest Margin (FTE) (non-GAAP)(10) |
All values are in US Dollars.
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| S&T Bancorp, Inc.<br>Consolidated Selected Financial Data<br>Unaudited | S&T Earnings Release - 9 | |
|---|---|---|
| Nine Months Ended September 30, | ||
| --- | --- | --- |
| (dollars in thousands) | 2025 | 2024 |
| Net Interest Margin (FTE) (non-GAAP) (YTD Averages) | ||
| ASSETS | ||
| Interest-bearing deposits with banks | 125,708 | 162,957 |
| Securities, at fair value | 1,004,633 | 972,941 |
| Loans held for sale | 7 | 74 |
| Commercial real estate | 3,479,614 | 3,336,689 |
| Commercial and industrial | 1,513,214 | 1,599,528 |
| Commercial construction | 378,819 | 382,177 |
| Total Commercial Loans | 5,371,647 | 5,318,394 |
| Residential mortgage | 1,674,472 | 1,532,410 |
| Home equity | 670,399 | 645,055 |
| Installment and other consumer | 99,839 | 106,523 |
| Consumer construction | 42,248 | 68,504 |
| Total Consumer Loans | 2,486,958 | 2,352,492 |
| Total Portfolio Loans | 7,858,605 | 7,670,886 |
| Total Loans | 7,858,612 | 7,670,960 |
| Total other earning assets | 15,694 | 20,260 |
| Total Interest-earning Assets | 9,004,647 | 8,827,118 |
| Noninterest-earning assets | 713,016 | 746,295 |
| Total Assets | 9,717,663 | 9,573,413 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| Interest-bearing demand | 761,804 | 812,443 |
| Money market | 2,175,399 | 1,970,539 |
| Savings | 879,645 | 915,643 |
| Certificates of deposit | 1,882,923 | 1,746,498 |
| Total Interest-bearing deposits | 5,699,771 | 5,445,123 |
| Short-term borrowings | 108,811 | 290,602 |
| Long-term borrowings | 50,866 | 39,571 |
| Junior subordinated debt securities | 49,439 | 49,379 |
| Total Borrowings | 209,116 | 379,552 |
| Total Other Interest-bearing Liabilities | 34,667 | 50,303 |
| Total Interest-bearing Liabilities | 5,943,554 | 5,874,978 |
| Noninterest-bearing liabilities | 2,340,420 | 2,382,352 |
| Shareholders' equity | 1,433,689 | 1,316,083 |
| Total Liabilities and Shareholders' Equity | 9,717,663 | 9,573,413 |
| Net Interest Margin (FTE) (non-GAAP)(8) |
All values are in US Dollars.
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| S&T Bancorp, Inc.<br>Consolidated Selected Financial Data<br>Unaudited | S&T Earnings Release - 10 | | --- | --- || | 2025 | | 2025 | | 2024 | | | --- | --- | --- | --- | --- | --- | --- | | | Third | | Second | | Third | | | (dollars in thousands) | Quarter | | Quarter | | Quarter | | | Nonaccrual Loans | | | | | | | | Commercial loans: | | % Loans | | % Loans | | % Loans | | Commercial real estate | $27,964 | 0.77% | $3,967 | 0.11% | $14,877 | 0.45% | | Commercial and industrial | 9,826 | 0.67% | 5,459 | 0.36% | 5,789 | 0.37% | | Commercial construction | 869 | 0.27% | 869 | 0.22% | 3,416 | 0.88% | | Total Nonaccrual Commercial Loans | 38,659 | 0.71% | 10,295 | 0.19% | 24,082 | 0.46% | | Consumer loans: | | | | | | | | Residential mortgage | 7,005 | 0.41% | 7,239 | 0.43% | 4,478 | 0.28% | | Home equity | 3,790 | 0.54% | 3,593 | 0.53% | 3,065 | 0.47% | | Installment and other consumer | 164 | 0.16% | 185 | 0.18% | 264 | 0.25% | | Total Nonaccrual Consumer Loans | 10,959 | 0.43% | 11,017 | 0.44% | 7,807 | 0.32% | | Total Nonaccrual Loans | $49,618 | 0.62% | $21,312 | 0.27% | $31,889 | 0.41% || | 2025 | 2025 | 2024 | | --- | --- | --- | --- | | | Third | Second | Third | | (dollars in thousands) | Quarter | Quarter | Quarter | | Loan Charge-offs (Recoveries) | | | | | Charge-offs | $3,053 | $1,656 | $2,440 | | Recoveries | (639) | (498) | (303) | | Net Loan Charge-offs | $2,414 | $1,158 | $2,137 | | Net Loan Charge-offs (Recoveries) | | | | | Commercial loans: | | | | | Commercial real estate | $106 | ($16) | $47 | | Commercial and industrial | 2,142 | 331 | 1,255 | | Commercial construction | (9) | 89 | — | | Total Commercial Loan Charge-offs | 2,239 | 404 | 1,302 | | Consumer loans: | | | | | Residential mortgage | 32 | 13 | (5) | | Home equity | 9 | 160 | 580 | | Installment and other consumer | 134 | 581 | 260 | | Total Consumer Loan Charge-offs | 175 | 754 | 835 | | Total Net Loan Charge-offs | $2,414 | $1,158 | $2,137 |
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| S&T Bancorp, Inc.<br>Consolidated Selected Financial Data<br>Unaudited | S&T Earnings Release - 11 | | --- | --- || | Nine Months Ended September 30, | | | --- | --- | --- | | (dollars in thousands) | 2025 | 2024 | | Loan Charge-offs (Recoveries) | | | | Charge-offs | $5,593 | $10,224 | | Recoveries | (2,048) | (1,885) | | Net Loan Charge-offs | $3,545 | $8,339 | | Net Loan Charge-offs (Recoveries) | | | | Commercial loans: | | | | Commercial real estate | ($56) | $4,906 | | Commercial and industrial | 2,627 | 1,547 | | Commercial construction | 110 | — | | Total Commercial Loan Charge-offs | 2,681 | 6,453 | | Consumer loans: | | | | Residential mortgage | 58 | 35 | | Home equity | 188 | 959 | | Installment and other consumer | 618 | 892 | | Total Consumer Loan Charge-offs | 864 | 1,886 | | Total Net Loan Charge-offs | $3,545 | $8,339 | | | 2025 | 2025 | 2024 | | --- | --- | --- | --- | | | Third | Second | Third | | (dollars in thousands) | Quarter | Quarter | Quarter | | Asset Quality Data | | | | | Nonaccrual loans | 49,618 | 21,312 | 31,889 | | OREO | 8 | — | — | | Total nonperforming assets | 49,626 | 21,312 | 31,889 | | Nonaccrual loans / total loans | 0.62 | 0.27 | 0.41 | | Nonperforming assets / total loans plus OREO | 0.62 | 0.27 | 0.41 | | Allowance for credit losses / total portfolio loans | 1.23 | 1.24 | 1.36 | | Allowance for credit losses / nonaccrual loans | 198 | 463 | 327 | | Net loan charge-offs | 2,414 | 1,158 | 2,138 | | Net loan charge-offs (annualized) / average loans | 0.12 | 0.06 | 0.11 |
All values are in US Dollars.
| Nine Months Ended September 30, | ||
|---|---|---|
| (dollars in thousands) | 2025 | 2024 |
| Asset Quality Data | ||
| Net loan charge-offs | 3,545 | 8,339 |
| Net loan charge-offs (annualized) / average loans | 0.06 | 0.15 |
All values are in US Dollars.
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| 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 | |
|---|---|---|---|
| Third | Second | Third | |
| (dollars in thousands, except per share data) | Quarter | Quarter | Quarter |
| (1) Tangible Book Value (non-GAAP) | |||
| Total shareholders' equity | 1,475,466 | 1,445,493 | 1,375,754 |
| Less: goodwill and other intangible assets, net of deferred tax liability | (375,359) | (375,522) | (375,931) |
| Tangible common equity (non-GAAP) | 1,100,107 | 1,069,971 | 999,823 |
| Common shares outstanding | 38,350,500 | 38,345,448 | 38,259,730 |
| Tangible book value (non-GAAP) | 28.69 | 27.90 | 26.13 |
| Tangible book value is a preferred industry metric used to measure our company's value and commonly used by investors and analysts. | |||
| (2) Return on Average Tangible Shareholders' Equity (non-GAAP) | |||
| Net income (annualized) | 138,708 | 127,951 | 129,652 |
| Plus: amortization of intangibles (annualized), net of tax | 649 | 653 | 893 |
| Net income before amortization of intangibles (annualized) | 139,357 | 128,604 | 130,545 |
| Average total shareholders' equity | 1,463,098 | 1,436,288 | 1,354,047 |
| Less: average goodwill and other intangible assets, net of deferred tax liability | (375,446) | (375,572) | (376,048) |
| Average tangible equity (non-GAAP) | 1,087,652 | 1,060,716 | 977,999 |
| Return on average tangible shareholders' equity (non-GAAP) | 12.81 | 12.12 | 13.35 |
| Return on average tangible shareholders' equity is a preferred industry profitability metric used by management, as well as investors and analysts, to measure financial performance. | |||
| (3) Pre-provision Net Revenue / Average Assets (non-GAAP) | |||
| Income before taxes | 43,836 | 39,984 | 41,443 |
| Plus: net loss on sale of securities | — | — | 2,199 |
| Less: gain on Visa Class B-1 exchange | — | — | (150) |
| Plus: Provision for credit losses | 2,792 | 1,974 | (454) |
| Total | 46,628 | 41,958 | 43,038 |
| Total (annualized) (non-GAAP) | 184,992 | 168,293 | 171,216 |
| Average assets | 9,800,079 | 9,724,902 | 9,620,366 |
| Pre-provision Net Revenue / Average Assets (non-GAAP) | 1.89 | 1.73 | 1.78 |
| Pre-provision net revenue to average assets is income before taxes adjusted to exclude provision for credit losses, losses (gains) on sale of securities and gain on Visa exchange. We believe this to be a preferred industry measurement to help management, as well as investors and analysts, evaluate our ability to fund credit losses or build capital. | |||
| (4) Efficiency Ratio (FTE) (non-GAAP) | |||
| Noninterest expense | 56,376 | 58,114 | 55,365 |
| Net interest income per consolidated statements of net income | 89,241 | 86,572 | 84,477 |
| Plus: taxable equivalent adjustment | 602 | 590 | 671 |
| Net interest income (FTE) (non-GAAP) | 89,843 | 87,162 | 85,148 |
| Noninterest income | 13,763 | 13,500 | 11,877 |
| Plus: net loss on sale of securities | — | — | 2,199 |
| Less: gain on Visa Class B-1 exchange | — | — | (150) |
| Net interest income (FTE) (non-GAAP) plus noninterest income | 103,606 | 100,662 | 99,074 |
| Efficiency ratio (FTE) (non-GAAP) | 54.41 | 57.73 | 55.88 |
| 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.
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| S&T Bancorp, Inc.<br>Consolidated Selected Financial Data<br>Unaudited | S&T Earnings Release - 13 | |
|---|---|---|
| Nine Months Ended September 30, | ||
| --- | --- | --- |
| (dollars in thousands) | 2025 | 2024 |
| (5) Return on Average Tangible Shareholders' Equity (non-GAAP) | ||
| Net income (annualized) | 134,051 | 131,172 |
| Plus: amortization of intangibles (annualized), net of tax | 690 | 919 |
| Net income before amortization of intangibles (annualized) | 134,741 | 132,091 |
| Average total shareholders' equity | 1,433,689 | 1,316,083 |
| Less: average goodwill and other intangible assets, net of deferred tax liability | (375,585) | (376,283) |
| Average tangible equity (non-GAAP) | 1,058,104 | 939,800 |
| Return on average tangible shareholders' equity (non-GAAP) | 12.73 | 14.06 |
| Return on average tangible shareholders' equity is a preferred industry profitability metric used by management, as well as investors and analysts, to measure financial performance. | ||
| (6) Pre-provision Net Revenue / Average Assets (non-GAAP) | ||
| Income before taxes | 125,521 | 123,472 |
| Plus: net losses on sale of securities | 2,295 | 5,346 |
| Less: gain on Visa Class B-1 exchange | — | (3,306) |
| Plus: Provision for credit losses | 1,726 | 2,595 |
| Total | 129,542 | 128,107 |
| Total (annualized) (non-GAAP) | 173,197 | 171,121 |
| Average assets | 9,717,663 | 9,573,413 |
| Pre-provision Net Revenue / Average Assets (non-GAAP) | 1.78 | 1.79 |
| Pre-provision net revenue to average assets is income before taxes adjusted to exclude provision for credit losses, losses (gains) on sale of securities and gain on Visa exchange. We believe this to be a preferred industry measurement, to help management, as well as investors and analysts, evaluate our ability to fund credit losses or build capital. | ||
| (7) Efficiency Ratio (FTE) (non-GAAP) | ||
| Noninterest expense | 169,581 | 163,493 |
| Net interest income per consolidated statements of net income | 259,136 | 251,548 |
| Plus: taxable equivalent adjustment | 1,810 | 2,045 |
| Net interest income (FTE) (non-GAAP) | 260,946 | 253,593 |
| Noninterest income | 37,692 | 38,012 |
| Plus: net losses on sale of securities | 2,295 | 5,346 |
| Less: gain on Visa Class B-1 exchange | — | (3,306) |
| Net interest income (FTE) (non-GAAP) plus noninterest income | 300,933 | 293,645 |
| Efficiency ratio (FTE) (non-GAAP) | 56.35 | 55.68 |
| The efficiency ratio is noninterest expense divided by noninterest income plus net interest income, on an FTE basis (non-GAAP), adjusted to exclude losses (gains) on sale of securities and gain on Visa exchange. We believe the FTE basis ensures comparability of net interest income arising from both taxable and tax-exempt sources and is consistent with industry practice. | ||
| (8) Net Interest Margin (FTE) (non-GAAP) | ||
| Interest income and dividend income | 385,377 | 387,993 |
| Less: interest expense | (126,241) | (136,445) |
| Net interest income per consolidated statements of net income | 259,136 | 251,548 |
| Plus: taxable equivalent adjustment | 1,810 | 2,045 |
| Net interest income (FTE) (non-GAAP) | 260,946 | 253,593 |
| Net interest income (FTE) (annualized) | 348,884 | 338,741 |
| Average interest-earning assets | 9,004,647 | 8,827,118 |
| Net interest margin - (FTE) (non-GAAP) | 3.87 | 3.84 |
| 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.
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| 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 | |
|---|---|---|---|
| Third | Second | Third | |
| (dollars in thousands) | Quarter | Quarter | Quarter |
| (9) Tangible Common Equity / Tangible Assets (non-GAAP) | |||
| Total shareholders' equity | 1,475,466 | 1,445,493 | 1,375,754 |
| Less: goodwill and other intangible assets, net of deferred tax liability | (375,359) | (375,522) | (375,931) |
| Tangible common equity (non-GAAP) | 1,100,107 | 1,069,971 | 999,823 |
| Total assets | 9,817,483 | 9,810,069 | 9,583,947 |
| Less: goodwill and other intangible assets, net of deferred tax liability | (375,359) | (375,522) | (375,931) |
| Tangible assets (non-GAAP) | 9,442,124 | 9,434,547 | 9,208,016 |
| Tangible common equity to tangible assets (non-GAAP) | 11.65 | 11.34 | 10.86 |
| Tangible common equity to tangible assets is a preferred industry measurement to evaluate capital adequacy. | |||
| (10) Net Interest Margin (FTE) (non-GAAP) | |||
| Interest income and dividend income | 131,623 | 128,906 | 131,474 |
| Less: interest expense | (42,382) | (42,334) | (46,997) |
| Net interest income per consolidated statements of net income | 89,241 | 86,572 | 84,477 |
| Plus: taxable equivalent adjustment | 602 | 590 | 671 |
| Net interest income (FTE) (non-GAAP) | 89,843 | 87,162 | 85,148 |
| Net interest income (FTE) (annualized) | 356,442 | 349,606 | 338,741 |
| Average interest-earning assets | 9,100,239 | 9,012,011 | 8,875,757 |
| Net interest margin (FTE) (non-GAAP) | 3.93 | 3.88 | 3.82 |
| 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.
ex992earningssupplementt
Third 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 margin on a fully taxable equivalent basis, pre-provision net revenue, return on tangible equity, efficiency ratio on a fully taxable equivalent basis, and tangible common equity to tangible assets. 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 on Form 10-Q and in Exhibit 99.1 of Form 8-K for S&T Bancorp, Inc. and subsidiaries. 2
3 Third Quarter Overview RETURN METRICS EARNINGS Net Income $35.0 million EPS $0.91 ROA 1.42% ROE 9.48% ROTE* 12.81% PPNR* 1.89% HIGHLIGHTS • Strong earnings and return metrics • PPNR* increases 16 basis points to 1.89% • Net interest income growth of $2.6 million, or 3.00% • NIM (FTE)* expansion of 5 basis points to 3.93% • Asset quality metrics remain at acceptable levels and well-managed ACL 1.23% NCO 0.12% ASSET QUALITY NPA 0.62% NIM (FTE)* 3.93% Efficiency Ratio (FTE)* 54.41% BALANCE SHEET Loan growth $46.6 million 2.33% (annualized) Deposit growth $1.0 million 0.05% (annualized) OTHER Dollars in millions *Non-GAAP financial measure. Refer to appendix for reconciliation of non-GAAP financial measures
4 Balance Sheet • Loan growth of $46.6 million (2.33% annualized) • Deposit balances stable • DDA represents 28% of total deposits Dollars in millions 3Q25 2Q25 Var $ 196 $ 203 $ (7) 1,001 1,021 (20) 7,981 7,934 47 7,922 7,921 1 235 250 (15) (100) (50) 0 50 100 Cash & Int Bear Bal Securities Loans Total Deposits Borrowings 3Q25 vs 2Q25: 3Q25 vs 2Q25 DEPOSIT CHANGES DECREASES/INCREASES
5 Asset Quality ACL Trend: Dollars in millions ASSET QUALITY TRENDS • ACL decreased 1 basis point to 1.23% compared to 1.24% at June 30, 2025 • Net loan charge-offs of $2.4 million, or 0.12% of total loans • NPAs increased, but remain manageable at 0.62% of total loans plus OREO % o f A verage Lo ans Net Loan Charge-offs/(Recoveries) 3Q24 4Q24 1Q25 2Q25 3Q25 $(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 3Q24 4Q24 1Q25 2Q25 3Q25 $0 $20 $40 $60 $80 0.00% 0.25% 0.50% 0.75% 1.00% % o f G ro ss Lo ans Allowance for Credit Losses (ACL) 3Q24 4Q24 1Q25 2Q25 3Q25 $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 $84.5 $83.3 $83.3 $86.6 $89.2 3.82% 3.77% 3.81% 3.88% 3.93% NII NIM (FTE)* 3Q24 4Q24 1Q25 2Q25 3Q25 Total Cost of Funds 0.07% (0.11)% (0.12)% (0.03)% 2.31% 2.20% 2.08% 2.08% 2.05% Changes in Cost of Funds Cost of Funds 3Q24 4Q24 1Q25 2Q25 3Q25 • Net interest income growth of $2.6 million, or 3.00%, compared to 2Q25 • NIM (FTE)* expansion of 5 basis points to 3.93% • Total cost of funds down 3 basis points to 2.05% • Average DDA increased $50.0 million compared to 2Q25 0.00% Dollars in millions *Non-GAAP financial measure. Refer to appendix for reconciliation of non-GAAP financial measures
7 Noninterest Income Dollars in millions 3Q25 3Q25 vs 2Q25 3Q25 vs 3Q24 Debit and Credit Card $4.7 $0.1 $— Service Charges 4.2 0.1 — Wealth Management 3.1 0.1 — Loss on Sale of Securities — — 2.2 Other 1.8 — (0.3) Noninterest Income $13.8 $0.3 $1.9 • Noninterest income consistent with 2Q $14.1 $13.7 $12.7
8 3Q25 3Q25 vs 2Q25 3Q25 vs 3Q24 Salaries & Benefits $32.2 ($0.7) $0.9 Data Processing 4.9 — (0.1) Occupancy 4.0 — 0.2 FF&E 3.2 (0.1) (0.2) Other Taxes 2.1 — 0.2 Marketing 1.3 (0.2) (0.1) Professional Services 1.2 (0.5) — FDIC 1.1 — — Other 6.4 (0.2) 0.1 Noninterest Expense $56.4 ($1.7) $1.0 Noninterest Expense • Salaries & benefits decrease mainly related to incentives and medical cost • Efficiency ratio (FTE)* improved Dollars in millions *Non-GAAP financial measure. Refer to appendix for reconciliation of non-GAAP financial measures
9 Capital Dollars in millions *Non-GAAP financial measure. 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 • $50 million share repurchase authorization in place 10.86% 10.82% 11.16% 11.34% 11.65% 3Q24 4Q24 1Q25 2Q25 3Q25
3Q25 (Dollars in thousands) Return on Average Tangible Shareholders' Equity (ROTE) (non-GAAP) Net income (annualized) $138,708 Plus: amortization of intangibles (annualized), net of tax 649 Net income before amortization of intangibles (annualized) $139,357 Average total shareholders' equity $1,463,098 Less: average goodwill and other intangible assets, net of deferred tax liability (375,446) Average tangible equity (non-GAAP) $1,087,652 Return on average tangible shareholders' equity (non-GAAP) 12.81 % 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. Pre-provision Net Revenue (PPNR)/Average Assets (non-GAAP) Income before taxes $43,836 Plus: Provision for credit losses 2,792 Total $46,628 Total (annualized) (non-GAAP) $184,992 Average assets $9,800,079 PPNR/Average Assets (non-GAAP) 1.89 % 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 management, as well as investors and analysts, evaluate our ability to fund credit losses or build capital. Appendix Definitions of GAAP to Non-GAAP Financial Measures 10
3Q25 2Q25 1Q25 4Q24 3Q24 (Dollars in thousands) Tangible Common Equity (TCE)/Tangible Assets (non-GAAP) Total shareholders' equity $1,475,466 $1,445,493 $1,418,034 $1,380,294 $1,375,754 Less: goodwill and other intangible assets, net of deferred tax liability (375,359) (375,522) (375,646) (375,837) (375,931) Tangible common equity (non-GAAP) $1,100,107 $1,069,971 $1,042,388 $1,004,457 $999,823 Total assets $9,817,483 $9,810,069 $9,718,276 $9,657,972 $9,583,947 Less: goodwill and other intangible assets, net of deferred tax liability (375,359) (375,522) (375,646) (375,837) (375,931) Tangible assets (non-GAAP) $9,442,124 $9,434,547 $9,342,630 $9,282,135 $9,208,016 Tangible common equity to tangible assets (non-GAAP) 11.65 % 11.34 % 11.16 % 10.82 % 10.86 % Tangible common equity to tangible assets is a preferred industry measurement to evaluate capital adequacy. Efficiency Ratio (FTE) (non-GAAP) Noninterest expense $56,376 $58,114 $55,091 $55,445 $55,365 Net interest income $89,241 $86,572 $83,323 $83,258 $84,477 Plus: taxable equivalent adjustment 602 590 617 660 671 Net interest income (FTE) (non-GAAP) 89,843 87,162 83,940 83,918 85,148 Noninterest income 13,763 13,500 10,429 11,071 11,877 Plus: net loss on sale of securities — — 2,295 2,592 2,199 Less: gain on Visa Class B-1 exchange — — — (186) (150) Net interest income (FTE) (non-GAAP) plus noninterest income $103,606 $100,662 $96,664 $97,395 $99,074 Efficiency ratio (FTE) (non-GAAP) 54.41 % 57.73 % 56.99 % 56.93 % 55.88 % The efficiency ratio is noninterest expense divided by noninterest income plus net interest income, on an FTE basis (non-GAAP), adjusted to exclude losses 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 (NIM) (FTE) (non-GAAP) Interest income and dividend income $131,623 $128,906 $124,848 $127,879 $131,474 Less: interest expense (42,382) (42,334) (41,525) (44,621) (46,997) Net interest income 89,241 86,572 83,323 83,258 84,477 Plus: taxable equivalent adjustment 602 590 617 660 671 Net interest income (FTE) (non-GAAP) $89,843 $87,162 $83,940 $83,918 $85,148 Net interest income (FTE) (annualized) $356,442 $349,606 $340,423 $333,848 $338,741 Average interest-earning assets $9,100,239 $9,012,011 $8,899,485 $8,860,338 $8,875,757 Net interest margin (FTE) (non-GAAP) 3.93 % 3.88 % 3.81 % 3.77 % 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. Appendix Definitions of GAAP to Non-GAAP Financial Measures 11
Third Quarter 2025 Earnings Supplement