S&t Bancorp, Inc. · NASDAQ:STBA
S&t Bancorp — Q2 2022 Earnings Presentation
12 slides from S&t Bancorp's earnings presentation, Jul 21, 2022
Slide 1: Second Quarter 2022 Earnings Supplement
Second Quarter 2022 Earnings Supplement
Slide 2: Forward Looking Statements and Risk Factors Non-GAAP Financial Measures
Forward Looking Statements and Risk Factors Non-GAAP This information contains or incorporates statements that we believe are “forward-looking statements” within the meaning of the Private Securities Litigation Financial Measures Reform Act of 1995. Forward-looking statements generally relate to our
Slide 3: Second Quarter Overview
Second Quarter Overview HIGHLIGHTS • Higher PPNR driven by a $7.5 million, or 11%, increase in net interest income EARNINGS EPS Net Income $0.74 $28.9 million • Net interest margin expansion of 40 bps to 3.56% • NPAs declined $20.7 million, or 34.8% RETURNS ROA ROE • Strong consumer loan growth of 1
Slide 4: Balance Sheet
Balance Sheet • Loans, excluding PPP, increased $107 million, or 6.2% annualized 2Q22 VS 1Q22: • DDA deposits stable ($500)($400)($300)($200)($100) $0 $100 2Q22 1Q22 Variance • Interest-bearing deposit decline was concentrated in few high Cash & Int Bear Bal $345 $824 ($479) balance, rate sensitive
Slide 5: Asset Quality
Asset ASSET QUALITY TRENDS Quality • NPAs decreased 34.8% due to resolution of C&I relationship and loan payoffs • Net charge-offs of 17 bps • Qualitative reserve increased due to macro environment ACL 2Q22 VS 1Q22: Dollars in millions 5
Slide 6: Net Interest Income
Net Interest Income • Net interest income increased $7.5 million, or 11%, due to increased rates • NIM expanded 40 bps to 3.56% • We are well-positioned to benefit from rising rates Loan Rate Sensitivity Mix 26% 52% 22% Floating Adjustable Fixed Dollars in millions; *Refer to appendix for reconcilia
Slide 7: Noninterest Income
Noninterest Income • Unfavorable valuation in a nonqualified benefit plan • Mortgage decline due to shift in volume of loans sold to portfolio 2Q22 2Q22 vs 1Q22 2Q22 vs 2Q21 Debit and Credit Card $4.8 ($0.3) $— Service Charges 4.2 0.2 0.6 Wealth 3.2 0.0 0.0 Mortgage 0.4 (0.6) (1.3) Other 0.0 (1.9) (
Slide 8: Noninterest Expense
Noninterest Expense $50.2 • Increase in salaries & benefits due to $47.4 $48.4 $47.2 higher incentives and medical costs offset $45.8 by valuation in a nonqualified benefit plan 2Q22 2Q22 vs 1Q22 2Q22 vs 2Q21 57% 59% 55% Salaries & Benefits $24.8 $1.1 $0.3 56% 54% Data Processing 4.1 (0.3) 0.3 Occup
Slide 9: Capital
Capital • We have strong capital levels and are well-positioned for growth TOTAL CAPITAL • $4.1 million of buybacks executed in 2Q22 Dollars in millions; *Refer to appendix for reconciliation of non-GAAP financial measures 9
Slide 10: Appendix Definitions of GAAP to Non-GAAP Financial Measures
Appendix Definitions of GAAP to Non-GAAP Financial Measures 2Q22 Return on Average Tangible Shareholders' Equity (non-GAAP) Net income (annualized) $115,750 Plus: amortization of intangibles (annualized), net of tax 1,197 Net income before amortization of intangibles (annualized) $116,947 Average to
Slide 11: Appendix Definitions of GAAP to Non-GAAP Financial Measures
Appendix Definitions of GAAP to Non-GAAP Financial Measures 2Q22 1Q22 4Q21 3Q21 2Q21 Efficiency Ratio (non-GAAP) Noninterest expense $48,424 $47,414 $50,189 $47,241 $45,829 Net interest income per consolidated statements of net income 75,194 67,733 68,438 68,712 68,304 Plus: taxable equivalent adjus
Slide 12: Second Quarter 2022 Earnings Supplement
Second Quarter 2022 Earnings Supplement