S&t Bancorp, Inc. · NASDAQ:STBA
S&t Bancorp — Q3 2024 Earnings Presentation
12 slides from S&t Bancorp's earnings presentation, Oct 17, 2024
Slide 1: Third Quarter 2024 Earnings Supplement
Third Quarter 2024 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: Third Quarter Overview
3 Third Quarter Overview RETURN METRICS EARNINGS Net Income $32.6 million *Refer to appendix for reconciliation of non-GAAP financial measures EPS $0.85 ROA 1.35% ROE 9.58% ROTE* 13.35% PPNR* 1.69% HIGHLIGHTS • Solid earnings and return metrics • Strong NIM at 3.82% • Customer deposit growth over $1
Slide 4: Balance Sheet
Balance Sheet • Strong customer deposit growth of $100.5 million (5.42% annualized) • Brokered CDs declined $126.0 million • Reduction in borrowings of $25.0 million • Loans decreased $24.5 million due to lower level of originations and higher pay- offs Dollars in millions 4 3Q24 2Q24 Var $ 228 $ 24
Slide 5: Asset Quality
Asset Quality ACL Trend: Dollars in millions 5 ASSET QUALITY TRENDS • ACL to total portfolio loans of 1.36% compared to 1.38% as of June 30, 2024 • Net loan charge-offs of $2.1 million, or 0.11% of average loans (annualized) • NPAs decreased 4 basis points to 0.41% of total portfolio loans plus OREO
Slide 6: Net Interest Income
• Net interest income increased $0.9 million • NIM remains strong at 3.82% down 3 basis points • Cost of funds increases have moderated as higher cost brokered deposits and borrowings are reduced Net Interest Income Dollars in millions; *Refer to appendix for reconciliation of non-GAAP financial mea
Slide 7: Noninterest Income
3Q24 3Q24 vs 2Q24 3Q24 vs 3Q23 Debit and Credit Card $4.7 $0.0 $— Service Charges 4.2 0.1 0.1 Wealth 3.1 0.1 0.1 Mortgage 0.3 — — Security Loss (2.2) 1.0 (2.2) Other 1.8 (2.6) 1.7 Noninterest Income $11.9 ($1.4) ($0.3) Noninterest Income 7Dollars in millions • Decrease in Other related primarily to
Slide 8: Noninterest Expense
3Q24 3Q24 vs 2Q24 3Q24 vs 3Q23 Salaries & Benefits $31.3 $0.9 $3.8 Data Processing 5.0 0.8 0.5 Occupancy 3.8 0.2 0.2 FF&E 3.4 — 0.3 Other Taxes 1.9 0.4 — Marketing 1.4 — (0.4) Professional Services 1.2 (0.2) (0.7) FDIC 1.1 — — Other 6.3 (0.4) (1.1) Noninterest Expense $55.4 $1.8 $2.6 Noninterest Exp
Slide 9: Capital
Capital Dollars in millions; *Refer to appendix for reconciliation of non-GAAP financial measures 9 TCE / TA* • We have strong capital levels and are well positioned for growth • TCE / TA higher due to solid earnings and improvement in AOCI which positively impacted TCE by 36 basis points 9.31% 9.88
Slide 10: Return on Average Tangible Shareholders' Equity and PPNR Reconciliation
3Q24 Return on Average Tangible Shareholders' Equity (ROTE) (non-GAAP) Net income (annualized) $129,652 Plus: amortization of intangibles (annualized), net of tax 893 Net income before amortization of intangibles (annualized) $130,545 Average total shareholders' equity $1,354,047 Less: average goodw
Slide 11: TCE/Tangible Assets and Efficiency Ratio Reconciliation
3Q24 2Q24 1Q24 4Q23 3Q23 Tangible Common Equity (TCE)/Tangible Assets (non-GAAP) Total shareholders' equity $1,375,754 $1,321,443 $1,295,074 $1,283,445 $1,223,532 Less: goodwill and other intangible assets, net of deferred tax liability (375,931) (376,154) (376,396) (376,631) (376,883) Tangible comm
Slide 12: Third Quarter 2024 Earnings Supplement
Third Quarter 2024 Earnings Supplement