S&t Bancorp, Inc. · NASDAQ:STBA
S&t Bancorp — Q1 2022 Earnings Presentation
12 slides from S&t Bancorp's earnings presentation, Apr 21, 2022
Slide 1: First Quarter 2022 Earnings Supplement
First 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: First Quarter Overview
3 First Quarter Overview RETURNS EARNINGS 1S&T Bank received the highest score in Pennsylvania in the J.D. Power 2022 U.S. Retail Banking Satisfaction Study of customers’ satisfaction with their primary bank. Visit jdpower.com/awards for more details. 2Refer to appendix for reconciliation of non-GAA
Slide 4: 1Q22 vs 4Q21: Balance Sheet
1Q22 VS 4Q21: Balance Sheet • Consumer business drove strong growth of $38.6 million, or 9.8% annualized • Deposits remain stable with an improvement in the overall deposit mix to lower costing products • Securities increased $117.4 million due to cash being redeployed to higher yielding assets Doll
Slide 5: Asset Quality
Asset Quality ACL 1Q22 VS 4Q21: Dollars in millions 5 ASSET QUALITY TRENDS • Net loan recoveries of $2.0 million drove a negative provision of $0.5 million • NPAs decreased 25% due to the sale of an OREO property, hotels returning to accruing status, and payoffs
Slide 6: Net Interest Income
• Net interest income, excluding PPP, increased $0.7 million • NIM, excluding-PPP, increased 7 bps primarily due to an improved asset mix • We are well-positioned to benefit from rising rates Net Interest Income Dollars in millions; *Refer to appendix for reconciliation of non-GAAP financial measure
Slide 7: Noninterest Income
1Q22 1Q22 vs 4Q21 1Q22 vs 1Q21 Debit and Credit Card $5.1 $0.6 $0.9 Service Charges 4.0 0.0 0.5 Wealth 3.2 (0.1) 0.3 Mortgage 1.0 (0.5) (3.3) Other 1.9 (0.9) (0.4) Noninterest Income $15.2 ($0.9) ($2.0) Noninterest Income 7Dollars in millions • Increased debit and credit card revenue • Moderating mo
Slide 8: Noninterest Expense
1Q22 1Q22 vs 4Q21 1Q22 vs 1Q21 Salaries & Benefits $23.7 ($3.4) $0.4 Data Processing 4.4 (0.2) 0.2 Occupancy 3.9 0.3 0.1 FF&E 2.8 (0.1) 0.1 Professional Services 1.9 0.3 0.4 Other Taxes 1.5 0.0 0.1 Marketing 1.4 0.0 0.0 FDIC 0.9 (0.1) (0.1) Other 6.8 0.6 0.6 Noninterest Expense $47.4 ($2.8) $1.8 • D
Slide 9: Capital
Capital We have strong capital levels and are well-positioned for growth Dollars in millions; *Refer to appendix for reconciliation of non-GAAP financial measures 9 TOTAL CAPITAL
Slide 10: Return on Average Tangible Shareholders' Equity (non-GAAP)
1Q22 Return on Average Tangible Shareholders' Equity (non-GAAP) Net income (annualized) $118,192 Plus: amortization of intangibles (annualized), net of tax 1,276 Net income before amortization of intangibles (annualized) $119,468 Average total shareholders' equity $1,196,694 Less: average goodwill a
Slide 11: Efficiency Ratio and Net Interest Margin (non-GAAP)
1Q22 4Q21 3Q21 2Q21 1Q21 Efficiency Ratio (non-GAAP) Noninterest expense $47,414 $50,189 $47,241 $45,829 $45,580 Net interest income per consolidated statements of net income $67,733 $68,438 $68,712 $68,304 $70,659 Plus: taxable equivalent adjustment 493 510 557 585 664 Net interest income (FTE) (no
Slide 12: First Quarter 2022 Earnings Supplement
First Quarter 2022 Earnings Supplement