S&t Bancorp, Inc. · NASDAQ:STBA
S&t Bancorp — Shareholder Meeting (May 2019)
21 slides from S&t Bancorp's shareholder meeting presentation, May 20, 2019
Slide 1: 2019 Annual Meeting
2019 Annual Meeting MEMBER FDIC
Slide 2: Christine Toretti, Chairperson
Christine Toretti Chairperson MEMBER FDIC
Slide 3: Todd D. Brice, Chief Executive Officer
Todd D. Brice Chief Executive Officer MEMBER FDIC
Slide 4: Forward Looking Statement and Risk Factors
Forward Looking Statement and Risk Factors This presentation 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
Slide 5: Non-GAAP Financial Measures
Non-GAAP Financial Measures In addition to the results of operations 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 equ
Slide 6: Corporate Profile
Corporate Profile Corporate Profile • Headquartered in Indiana, PA • $7.2 billion in assets (as of 03.31.19) • $1.4 billion market cap (as of 03.31.19) • Locations in 5 markets • Stock symbol: STBA 6
Slide 7: STBA Investment Thesis
STBA Investment Thesis STBA Investment Thesis • Above peer performance • Demonstrated expense discipline and efficiency • Organic growth • Strategic and effective mergers and expansion • Stable markets with long-term oil and gas benefit • Sound asset quality 7
Slide 8: STBA Investment Thesis: The Right Size
STBA Investment Thesis The Right Size • Big enough to: • Provide full complement of products and services • Access technology • Access capital markets • Attract talent • Expand – mergers and acquisitions/de novo • Small enough to: • Stay close to our customers • Understand our markets • Be responsiv
Slide 9: 2018 Highlights
2018 Highligh Stock Price Sai Bancorp. > $37.84 as of 12.31.18 “We are pleased to announce another successful year with record net income for 2018. We have great momentum as we move into 2019 thanks to our great team of bankers and our robust markets.” Established in 1902 and experiencing growth thr
Slide 10: Increase in cash dividends paid in 2018
Sat Bancorp w. Increase in cash dividends paidin 2018
Slide 11: Valuation: Stock Performance
Valuation Stock Performance Total Annualized Shareholder Return Includes reinvested dividends (Data as of 03.31.19) 1 YR 3 YR 5 YR 10 YR STBA 1.46 % 18.25% 13.62% 9.42% S&P 600 Bank (5.83)% 13.24% 9.00% 12.76% NASDAQ Bank (11.03)% 12.07% 7.96% 11.22% S&P 500 9.48 % 13.52% 10.90% 15.91% Source: Bloom
Slide 12: Markets S&T Operates in Regional Markets
Markets S&T Operates in 5 Regional Markets March 31, 2019 Deposits(1) Loans(1) Western PA $4,390 $3,594 Central PA 789 1,098 Western NY Western NY Northeast OH 70 407 Northeast OH CentralNortheast OH OH 49 Central PA 477 Southwestern PA Central PA Southwestern PA Central OH Central OH Upstate NY 12
Slide 13: Mark Kochvar, Chief Financial Officer
Mark Kochvar Chief Financial Officer MEMBER FDIC
Slide 14: Performance Summary
Performance Performance Summary 2017 1Q19 2018 2017 Excludes DTA(3) 2016 Net Income (in thousands) $22,928 $105,334 $72,968 $86,401 $71,392 Diluted Earnings per Share $0.66 $3.01 $2.09 $2.47 $2.05 Dividends Declared per Share $0.27 $0.99 $0.82 $0.77 Stock Price $39.53 $37.84 $39.81 $39.04 Return on
Slide 15: Performance: Return on Average Assets
Performance Return on Average Assets 1.8% 1.6% 1.50% 1.4% 1.29% 1.22%(2) Peer(1) 1.2% 1.13% 1.08% 1.0% 1.03% 0.8% 0.6% 0.4% 0.2% 0.0% 2015 2016 2017 2018 1Q19 (3) (1) BHCPR Peer Group 2: Bank Holding Companies with $3-10 Billion of Assets (2) This is a non-GAAP number that adjusts for the effects of
Slide 16: Performance: Return on Average Equity
Performance Return on Average Equity 15.0% 12.5% 11.60% Peer(1) 9.90%(2) 9.84% 10.0% 8.94% 8.67% 8.37% 7.5% 5.0% 2.5% 0.0% 2015 2016 2017 2018 1Q19 (3) (1) BHCPR Peer Group 2: Bank Holding Companies with $3-10 Billion of Assets (2)This is a non-GAAP number that adjusts for the effects of a one-time,
Slide 17: Performance: Return on Average Tangible Equity
Performance Return on Average Tangible Equity(3) 20.0% 17.14% 15.08%(2) 15.0% 14.39% 14.27% 13.71% Peer(1) 12.77% 10.0% 5.0% 0.0% 2015 2016 2017 2018 1Q19 (4) (1) SNL Financial Custom Peer Group Holding Companies with $3-10 Billion of Assets (2)This is a non-GAAP number that adjusts for the effects
Slide 18: Performance: Efficiency Ratio
Performance Efficiency Ratio(2) 70% Peer(1) 60% 55.86% 54.06% 53.55% 51.77% 50.60% 50% 40% 2015 2016 2017 2018 1Q19 (1) BHCPR Peer Group 2: Bank Holding Companies with $3-10 Billion of Assets 18 (2)Refer to appendix for reconciliation of non-GAAP financial measures
Slide 19: Appendix – Non-GAAP Measures
Appendix APPENDIX – Non-GAAP Measures 1Q19 2018 2017 2016 2015 Return on average tangible shareholders' equity (non-GAAP) Net Income $92,987 $105,334 $72,968 $71,392 $67,081 Plus: amortization of intangibles 739 861 1,233 1,615 1,818 Tax effect of amortization of intangibles (155) (181) (432) (565)
Slide 20: Appendix – Non-GAAP Measures
Appendix APPENDIX – Non-GAAP Measures 2017 2017 Return on Average Equity Return on Tangible Shareholders' Equity Net Income $72,968 Net Income $72,968 Plus: DTA re-measurement 13,433 Plus: DTA re-measurement 13,433 Adjusted net income (non-GAAP) 86,401 Adjusted net income (non-GAAP) 86,401 Average a
Slide 21: 2019 Annual Meeting
2019 Annual Meeting MEMBER FDIC