S&t Bancorp, Inc. · NASDAQ:STBA
S&t Bancorp — Q4 2011 Earnings Presentation
27 slides from S&t Bancorp's earnings presentation, Feb 22, 2012
Slide 1: Fourth Quarter 2011
Fourth Quarter 2011 Exhibit 99.1 Filed by S&T Bancorp, Inc. Pursuant to Rule 425 under the Securities Act of 1933 and deemed filed pursuant to Rule 14a-12 of the Securities Exchange Act of 1934 Subject Company: S&T Bancorp, Inc Commission File No.: 000-12508
Slide 2: Todd Brice, CEO and Mark Kochvar, CFO
Todd Brice President and Chief Executive Officer Mark Kochvar Sr. EVP and Chief Financial Officer
Slide 3: S&T Bancorp Corporate Profile
S&T Bancorp Corporate Profile
Slide 4: Merger Overview – Mainline Bancorp, Inc.
Merger Overview – Mainline Bancorp, Inc. S&T Bancorp, Inc. Mainline Bancorp, Inc. Dec. 31, 2011 Dec. 31, 2011 Total Assets $4,120.0 $235.8 Gross Loans 3,132.6 133.7 Total Deposits 3,335.9 206.2 Total Equity 490.5 22.2 Common Book Value Per Share 17.44 56.81 Tangible Common Book Value Per Share 11.36
Slide 5: Common Return on Assets
* 2011 peer banks per 2011 proxy statement Common Return on Assets STBA Peer Bank Median* PA Banks -0.5% 0.0% 0.5% 1.0% 1.5% 2.0% -0.5% 0.0% 0.5% 1.0% 1.5% 2.0%
Slide 6: Common Return on Equity
Common Return on Equity * 2011 peer banks per 2011 proxy statement -5% 0% 5% 10% 15% 20% -5% 0% 5% 10% 15% 20% PA Banks Peer Bank Median* STBA
Slide 7: Marcellus Shale Distribution
Marcellus Shale Distribution
Slide 8: Marcellus Activity in S&T's Market Area
Marcellus Activity in S&T’s Market Area Permits Issued Wells Drilled Source: Pennsylvania DEP
Slide 9: Rely on S&T Wealth Management to protect your assets
Rely on S&T Wealth Management to protect your assets: + Lease offer evaluation and negotiation. + Negottion of surfice damage rights 0 that you are sufclenly protected from and compensated for any damage ‘to your property throughour the ring process. + Verfiation, montaring and administration of rea
Slide 10: Summary
Summary Net Income Available to Common Shareholders $39.7 $37.3 $2.0 Diluted Earnings per Common Share $1.41 $1.34 $0.07 Common Return on Average Assets 0.97% 0.90% 0.05% Common Return on Average Equity 6.78% 6.58% 0.37% Dollars in millions
Slide 11: Quarterly Summary
Quarterly Summary Fourth Quarter Third Quarter Fourth Quarter Net Income Available to Common Shareholders $9.3 $12.2 $8.7 Diluted Earnings per Common Share $0.33 $0.44 $0.31 Common Return on Average Assets * 0.91% 1.20% 0.84% Common Return on Average Equity * 6.41% 8.12% 6.00% Dollars in millions *
Slide 12: Income Statement
Income Statement Dollars in millions * Refer to appendix for reconciliation of Non-GAAP financial measures Net Interest Income – FTE * $141.5 $150.5 $151.2 Noninterest Income 44.2 46.9 43.7 Total Revenue 185.7 197.4 194.9 Noninterest Expense (103.9) (105.6) (108.1) Security (Losses) Gains (0.1) 0.3
Slide 13: Income Statement
Income Statement Dollars in millions * Refer to appendix for reconciliation of Non-GAAP financial measures Fourth Quarter Third Quarter Fourth Quarter Net Interest Income – FTE * $35.1 $34.9 $37.4 Noninterest Income 11.6 10.4 12.0 Total Revenue 46.7 45.3 49.4 Noninterest Expense (26.7) (24.2) (27.0)
Slide 14: Balance Sheet
Balance Sheet Dollars in millions Dec. 31, Sept. 30, Dec. 31, Securities $376 $359 $310 Interest Bearing Balances Loans, Net 3,084 3,085 3,312 Other Total Assets $4,120 $4,092 $4,114 Deposits $3,336 $3,271 $3,317 Borrowings Other Liabilities Equity Total Liabilities & Equity $4,120 $4,092 $4,114
Slide 15: Loan Portfolio
Loan Portfolio Dollars in millions Dec. 31, Sept. 30, Dec. 31, Consumer Home Equity $411 $423 $441 Residential Mortgage Installment and Other Consumer Construction Total Consumer Commercial Commercial Real Estate 1,415 1,414 1,494 Commercial & Industrial Construction Total Commercial 2,290 2,287 2,4
Slide 16: Asset Quality
Asset Quality December 31, Nonperforming Loans / Total Loans 1.79% 1.90% 2.67% 1.19% 0.60% Nonperforming Assets / Total Loans Plus OREO 1.92 2.07 2.80 1.21 0.62 Net Charge-offs / Average Loans 0.56 1.11 1.60 0.31 0.17 Loan Loss Reserve / Total Loans 1.56 1.53 1.75 1.20 1.23 Loan Loss Reserve / Nonpe
Slide 17: Nonperforming Loans
Nonperforming Loans 2.00 45.8 Total Commercial 3.47 6.5 Construction 1.10 7.6 Commercial & Industrial 2.24 31.7 Commercial Real Estate Commercial 1.23 10.3 Total Consumer - 7.42 0.2 Construction - - - Installment and Other Consumer 2.01 7.2 Residential Mortgage 0.71 $2.9 Home Equity % of Total NPL C
Slide 18: Net Interest Margin
Net Interest Margin Fourth Quarter Third Quarter Fourth Quarter Securities - FTE 3.36% 3.31% 3.77% Interest Bearing Balances - FTE 0.28 0.21 0.34 Loans - FTE 4.83 4.85 5.02 Total Earning Assets 4.45 4.51 4.92 Deposits 0.83 0.93 1.03 Borrowings 2.43 2.97 3.00 Total Costing Liabilities 0.93 1.06 1.15
Slide 19: Noninterest Income
Noninterest Income Dollars in millions Fourth Quarter Third Quarter Fourth Quarter Community Banking $ 6.1 $ 6.3 $ 5.8 Wealth Management 2.0 2.0 2.0 Insurance 1.8 2.2 1.8 Letters of Credit / Loan 0.6 0.6 0.8 Mortgage Banking 0.8 (0.5) 1.3 Other 0.3 (0.2) 0.3 Total $11.6 $10.4 $12.0
Slide 20: Securities
Securities Dec. 31, Sept. 30, Dec. 31, Agencies $143 $153 $126 Agency CMO Agency MBS Municipals Equities FHLB Stock Total $376 $359 $310 All securities are classified as available-for sale Dollars in millions
Slide 21: Deposits
Deposits Dollars in millions Dec. 31, Sept. 30, Dec. 31, Noninterest-bearing Demand $ 819 $ 817 $ 766 Interest-bearing Demand Money Market Savings Certificates of Deposit < $100K Certificates Of Deposit > $100K Total $3,336 $3,271 $3,317
Slide 22: Capital Ratios
Capital Ratios Dec. 31, Sept. 30, ** Dec. 31, ** Well- Capitalized Leverage 9.17% 11.80% 11.07% 5.00% Tier 1 – Risk-Based Capital 11.63 14.95 13.28 6.00 Total – Risk-Based Capital 15.20 18.51 16.68 10.00 Tangible Common Equity / Tangible Assets * 8.09 8.30 7.61 NA ** Includes CPP of $108.7 million *
Slide 23: The S&T Road Map: Collaborating Around The Customer
THE S&T ROAD MAP: Collaborating Around The Customer Customer value proposition
Slide 24: Appendix – Non-GAAP Measures
Interest Income per Consolidated Statements of Income $165.1 $180.4 $195.1 Adjustment to Fully Taxable-equivalent Basis 4.1 4.7 5.2 Interest Income Adjusted to Fully Taxable-equivalent Basis 169.2 185.1 200.3 Interest Expense per Consolidated Statements of Income 27.7 34.6 49.1 Net Interest Income A
Slide 25: Appendix – Non-GAAP Measures (cont.)
Dec. 31, Sept. 30, Dec. 31, Tangible Common Equity/Tangible Assets Common Equity/Assets (GAAP Basis) 11.91% 12.14% 11.48% Effect of Excluding Intangible Assets -3.82% -3.84% -3.87% Tangible Common Equity/Tangible Assets 8.09% 8.30% 7.61% APPENDIX – Non-GAAP Measures /cont./
Slide 26: Appendix – Non-GAAP Measures
Fourth Quarter Third Quarter Fourth Quarter Interest Income per Consolidated Statements of Income $40.2 $40.9 $44.2 Adjustment to Fully Taxable-equivalent Basis 1.1 1.0 1.1 Interest Income Adjusted to Fully Taxable-equivalent Basis 41.3 41.9 45.3 Interest Expense per Consolidated Statements of Incom
Slide 27: Additional Information and Where to Find It
Additional Information and Where to Find It • The Company has filed with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-4, including a proxy statement/prospectus, in connection with the proposed merger with Mainline Bancorp, Inc.. The proxy statement/prospectus