S&t Bancorp, Inc. · NASDAQ:STBA
S&t Bancorp — Q4 2022 Earnings Presentation
13 slides from S&t Bancorp's earnings presentation, Jan 26, 2023
Slide 1: Fourth Quarter 2022 Earnings Supplement
Fourth Quarter 2022 Earnings Supplement
Slide 2: Forward Looking Statements and Risk Factors
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, result
Slide 3: Fourth Quarter Overview
3 Fourth Quarter Overview RETURNS EARNINGS *Refer to appendix for reconciliation of non-GAAP financial measures EPS $1.03 Net Income $40.3 million ROA 1.78% ROE 13.68% ROTE* 20.36% PPNR* 2.36% HIGHLIGHTS • Record net income and EPS for the second consecutive quarter • EPS and net income increased 8%
Slide 4: Full Year Overview
4 Full Year Overview RETURNS EARNINGS *Refer to appendix for reconciliation of non-GAAP financial measures EPS $3.46 Net Income $135.5 million ROA 1.48% ROE 11.47% ROTE* 17.02% PPNR* 1.93% HIGHLIGHTS • Record EPS and net income • EPS and net income increased more than 23% compared to 2021 • Solid re
Slide 5: 4Q22 vs 3Q22: Balance Sheet
4Q22 VS 3Q22: Balance Sheet • Loans increased $87 million, or 4.9% annualized • Consumer growth of $80 million, or 17.6% • Deposits declined $191 million due to the rate environment Dollars in millions 5 Cash & Int Bear Bal Securities Loans Deposits ($300) ($200) ($100) $0 $100 4Q22 3Q22 Var $210 $1
Slide 6: Asset Quality
Asset Quality ACL 4Q22 VS 3Q22: Dollars in millions 6 ASSET QUALITY TRENDS • Modest ACL build • NPAs decreased 23%, or $6.7 million • NPA/total loans plus OREO of 0.31% compared to 0.41% 3Q22 and 1.13% 4Q21 • Minimal net charge-off activity in 2022
Slide 7: Net Interest Income
• Net interest income increased $5.3 million, or 6%, due to higher rates • NIM expanded 29 bps to 4.33% Net Interest Income Dollars in millions; *Refer to appendix for reconciliation of non-GAAP financial measures 7 Loan Rate Sensitivity Mix 50% 22% 28% Floating Adjustable Fixed
Slide 8: Noninterest Income
4Q22 4Q22 vs 3Q22 4Q22 vs 4Q21 Debit and Credit Card $4.4 ($0.4) ($0.1) Service Charges 4.3 0.0 0.3 Wealth 3.0 (0.2) (0.3) Mortgage 0.3 (0.1) (1.2) Security Gain 0.0 (0.2) 0.0 Other 3.6 1.7 0.8 Noninterest Income $15.6 $0.8 ($0.5) Noninterest Income 8Dollars in millions Increased due to $2.0 million
Slide 9: Noninterest Expense
4Q22 4Q22 vs 3Q22 4Q22 vs 4Q21 Salaries & Benefits $28.0 $1.3 $0.9 Data Processing 4.2 0.0 (0.5) Occupancy 3.8 0.4 0.2 FF&E 3.0 0.1 0.1 Professional Services 2.1 0.2 0.4 Other Taxes 1.8 0.2 0.3 Marketing 1.4 0.0 0.1 FDIC 0.4 (0.2) (0.7) Other 6.6 (0.3) 0.3 Noninterest Expense $51.3 $1.7 $1.1 Increas
Slide 10: Capital
Capital Dollars in millions; *Refer to appendix for reconciliation of non-GAAP financial measures 10 TCE / TA* • Capital levels remain strong • TCE / TA increased 18 basis points • Extension of share repurchase plan
Slide 11: Definitions of GAAP to Non-GAAP Financial Measures
4Q22 Return on Average Tangible Shareholders' Equity (non-GAAP) Net income (annualized) $159,765 Plus: amortization of intangibles (annualized), net of tax 1,144 Net income before amortization of intangibles (annualized) $160,909 Average total shareholders' equity $1,168,023 Less: average goodwill a
Slide 12: Tangible Common Equity/Tangible Assets and Efficiency Ratio (non-GAAP)
4Q22 3Q22 2Q22 1Q22 4Q21 Tangible Common Equity/Tangible Assets (non-GAAP) Total shareholders' equity $1,184,659 $1,153,181 $1,178,358 $1,184,950 $1,206,454 Less: goodwill and other intangible assets, net of deferred tax liability (377,673) (377,961) (378,259) (378,557) (378,871) Tangible common equ
Slide 13: Fourth Quarter 2022 Earnings Supplement
Fourth Quarter 2022 Earnings Supplement