S&t Bancorp, Inc. · NASDAQ:STBA
S&t Bancorp — Investor Presentation (August 2010)
28 slides from S&t Bancorp's investor presentation, Aug 19, 2010
Slide 1: S&T Bancorp, Inc.
Sali Bancorp, Inc
Slide 2: Presenters: Todd Brice and Mark Kochvar
Todd Brice President and Chief Executive Officer Mark Kochvar Sr. EVP and Chief Financial Officer
Slide 3: Forward-Looking Statement and Risk Factors
Forward-Looking Statement and Risk Factors • This presentation contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include, among others, statements regarding tr
Slide 4: S&T Bancorp Corporate Profile
S&T Bancorp Corporate Profile Headquartered in Indiana, PA $4.1 Billion in Assets (as of 06.30.10) Institutional Ownership: 38% Insider Ownership: 5% $554.5 Million Market Cap. (as of 08.05.10) Single-bank holding company with 53 offices and 6 insurance locations Stock Symbol: STBA-NASDAQ Global Sel
Slide 5: Investor Highlights
Investor Highlights •Historically High Performing Bank •Experienced Management Team •Relationship Banking Model •Well-Positioned for Growth
Slide 6: Select PA Bank Holding Companies
Select PA Bank Holding Companies Assets ROA* ROE* Fulton $16.6 0.59% 4.81% Susquehanna 13.9 0.03 0.19 National Penn 9.2(0.08)(0.68) FNB 8.8 0.77 6.48 FCF 6.1 0.01 0.12 S&T Bancorp 4.1 0.86 6.35 Data Source: SNL YTD June 30, 2010 / *Annualized using net income available to common shareholders Dollars
Slide 7: Stock Performance
Stock Performance Price P/BV P/TBV P/E* Fulton $ 9.05 97% 137% 16 Susquehanna 8.79 57 122 73 National Penn 6.64 90 133 55 FNB 8.64 94 200 16 FCF 5.05 67 89 26 S&T Bancorp 19.93 120 193 16 *Estimated 2010 Earnings Data Source: SNL as of 08/05/10
Slide 8: Marcellus Shale Distribution
Marcellus Shale Distribution Pennsylvania S&T Bank Regional Footprint S&T Bank Locations Marcellus Share Formation
Slide 9: Marcellus Shale Impact
Marcellus Shale Impact •Fully developed, the Marcellus Shale has the potential to be the second largest natural gas field in the world. •The natural gas found in the Marcellus could be equivalent to the energy content of 87 billion barrels of oil, enough to meet the demand of the entire world for ne
Slide 10: Quarterly Summary
Quarterly Summary 2010 2010 2009 Second First Second Quarter Quarter Quarter Net Income (Loss) $7.9 $9.8($10.2) Diluted Common Earnings per Share $0.28 $0.35($0.37) Common Return on Average Assets* 0.76% 0.96%(0.95%) Common Return on Average Equity* 5.60% 7.12%(7.44%) Dollars in millions * Annualize
Slide 11: Income Statement
Income Statement 2010 2010 2009 Second First Second Quarter Quarter Quarter Net Interest Income – FTE $37.8 $37.1 $37.9 Noninterest Income 11.4 11.2 11.8 Total Revenue 49.2 48.3 49.7 Noninterest Expense(25.7)(27.9)(32.8) Security Gains (Losses) 0.1 0.1(1.3) Provision for Loan Losses(9.1)(4.4)(32.2)
Slide 12: Net Interest Margin
Net Interest Margin 2010 2010 2009 Second First Second Quarter Quarter Quarter Securities 4.20% 4.35% 4.30% Loans 5.08 5.08 5.25 Total Earning Assets 5.05 5.02 5.15 Deposits 1.15 1.21 1.52 Borrowings 2.79 2.47 2.43 Total Costing Liabilities 1.27 1.33 1.66 Net Interest Margin—FTE 4.05 4.00 3.86
Slide 13: Noninterest Income
Noninterest Income 2010 2010 2009 Second First Second Quarter Quarter Quarter Community Banking $ 6.6 $ 5.5 $ 5.4 Wealth Management 1.9 2.0 1.9 Insurance 2.0 2.4 2.0 Letters of Credit / Loan 0.8 0.6 1.0 Mortgage Banking 0.2 0.4 1.2 Other(0.1) 0.3 0.3 Total $11.4 $11.2 $11.8 Dollars in millions
Slide 14: Balance Sheet
Balance Sheet June 30, March 31, June 30, 2010 2010 2009 Securities $340 $352 $409 Loans, Net 3,343 3,335 3,402 Other 456 449 433 Total Assets $4,139 $4,136 $4,244 Deposits $3,297 $3,346 $3,156 Borrowings 227 184 499 Other 49 45 56 Equity 566 561 533 Total Liabilities & Equity $4,139 $4,136 $4,244 D
Slide 15: Loan Portfolio
Loan Portfolio June 30, March 31, June 30, 2010 2010 2009 Consumer Home Equity $451 $457 $454 Residential Mortgage 364 360 381 Consumer Installment 77 77 83 Construction 10 9 11 Total Consumer $902 $903 $929 Commercial Commercial Real Estate $1,424 $1,423 $1,388 Commercial & Industrial 734 715 767 C
Slide 16: Asset Quality
Asset Quality June 30, December 31, 2010 2009 2008 2007 2006 Nonperforming Loans / Total Loans 2.28% 2.67% 1.19% 0.60% 0.74% Nonperforming Assets / Total Loans Plus 2.41 2.80 1.21 0.62 0.76 OREO Net Charge-offs / Average Loans* 1.14 1.60 0.31 0.17 0.49 Loan Loss Reserve / Total Loans 1.59 1.75 1.20
Slide 17: Nonperforming Loans
Nonperforming Loans June 30,% of Consumer 2010% NPL Total NPL Home Equity $ 1.8 0.39 2 Residential Mortgage 7.4 2.03 10 Consumer Installment 0.1 0.12 - Construction—— Total Consumer $ 9.3 1.03 12 Commercial Commercial Real Estate $ 51.0 3.59 66 Commercial & Industrial 2.3 0.31 3 Construction 14.7 4.
Slide 18: Construction & CRE by Type
Construction & CRE by Type June 30, June 30, Type 2010% of Total 2009 Change Retail/Strip Malls $ 298 17 $ 298 $ - Residential Rental Properties 286 16 257 29 Offices 224 13 241(17) Hotels 192 11 144 48 Manuf/Industrial/Warehouse 137 8 116 21 RE Develop – CL 105 6 111(6) Flex/Mixed Use 102 6 102 - H
Slide 19: Construction & CRE – NPL by Type
Construction & CRE – NPL by Type June 30,% of Type 2010% NPL Total NPL Retail/Strip Malls $ 5.5 1.83 8 Residential Rental Properties 15.7 5.50 24 Offices 1.9 0.83 3 Hotels 3.6 1.85 5 Manuf/Industrial/Warehouse 3.6 2.64 6 RE Develop – CL 7.4 7.10 11 Flex/Mixed Use 2.4 2.31 4 Healthcare/Education 3.4
Slide 20: Construction & CRE by Location
Construction & CRE by Location June 30,% of June 30, Location 2010 Total 2009 Change Pennsylvania $1,405 80 $1,437($32) New York 102 5 97 5 Ohio 78 4 75 3 Arizona 19 1 19 - North Carolina 17 1 15 2 Florida 10 1 17(7) Southeast Region 56 3 41 15 Midwest Region 26 1 18 8 Southwest Region 14 1 10 4 Wes
Slide 21: Construction & CRE – NPL by Location
Construction & CRE – NPL by Location June 30,% of Location 2010% NPL Total NPL Pennsylvania $50.1 3.57 76 New York 3.3 3.20 5 Ohio—— Arizona 0.5 2.44 1 North Carolina 2.5 15.14 4 Florida—— Southeast Region—— Midwest Region—— Southwest Region 3.1 22.15 5 Western Region—— Mid-Atlantic Region—— New Eng
Slide 22: Securities
Securities 2010 2010 2009 Second First Second Quarter Quarter Quarter Agencies $124 $118 $133 Agency CMO 50 55 68 Agency MBS 54 58 70 Municipals 78 86 100 Equities 11 12 15 FHLB Stock 23 23 23 Total $340 $352 $409 All securities are classified as available-for sale Dollars in millions
Slide 23: Deposits
Deposits 2010 2010 2009 Second First Second Quarter Quarter Quarter Noninterest-bearing Demand $ 733 $ 709 $ 630 Interest-bearing Demand 260 253 232 Money Market 251 251 193 Savings 743 753 746 Certificates of Deposit < $100K 845 878 951 Certificates Of Deposit > $100K 465 502 404 Total $3,297 $3,34
Slide 24: Borrowings
Borrowings 2010 2010 2009 Second First Second Quarter Quarter Quarter Repos and FFP $ 44 $ 48 $ 97 Short-term Borrowings 52—195 Long-term Borrowings 40 45 116 Subordinated Debt 70 70 70 Trust Preferred 21 21 21 Total $227 $184 $499 Dollars in millions
Slide 25: Capital
Capital June 30 March 31 June 30 Well- 2010 2010 2009 Capitalized Leverage* 10.64% 10.51% 9.56% 5.00% Tier 1 – Risk-Based Capital* 12.52 12.40 11.33 6.00 Total – Risk-Based Capital* 15.87 15.75 14.60 10.00 Tangible Common Equity / Tangible Assets 7.23 7.09 6.23 NA *Includes CPP of $108.7 million
Slide 26: The S&T Road Map: Collaborating Around The Customer
THE S&T ROAD MAP: Collaborating Around The Customer OPERATIONS MARKETS DELIVERY CHANNELS RISK MANAGEMENT Brand Brand Brand Brand TRANSACTION CREDIT INSURANCE INVESTMENT Customer Value Proposition
Slide 27: S&T Strategy Map
S&T Strategy Map High Performance One Customer at a Time Integration Culture of Market Develop & Align Shareholder Based on Collaboration Composition Infrastructure Value Customer Needs
Slide 28: S&T Bancorp, Inc.
Sf Bancorp, Inc