S&t Bancorp, Inc. · NASDAQ:STBA
S&t Bancorp — Q3 2020 Earnings Presentation
16 slides from S&t Bancorp's earnings presentation, Oct 22, 2020
Slide 1: Third Quarter 2020 Earnings Supplement
Third Quarter 2020 Earnings Supplement MEMBER FDIC
Slide 2: Forward Looking Statements and Risk Factors
Forward Looking Statements and Risk Factors This information contains certain 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 of operations, plans, objectives, outlo
Slide 3: Third Quarter 2020 Highlights
Third Quarter 2020 Highlights EPS: $ 0.43 • PTPP 1.61%, $37.5 million • NIM stability Net Income: • Mortgage banking $16.7 million • Moderate ACL build • Dividend of $0.28 declared Returns: ROA ROE ROTE 0.72% 5.80% 8.96% Asset ACL NCO Provision Quality: 1.64% 0.69% $17.5 million ex-PPP 1.77% Refer t
Slide 4: Key Metrics
Third Quarter 2020 Key Metrics 2020 2020 2020 2019 Third Second Second Third Quarter Quarter Quarter Quarter Reported Metrics: Reported Ex-fraud* Net income (loss) $16.7 million ($33.1 million) $13.3 million $26.9 million Diluted earnings (loss) per share $0.43 ($0.85) $0.34 $0.79 Dividends declared
Slide 5: SBA PPP
Third Quarter 2020 SBA PPP We dedicated substantial resources to the SBA PPP and approved over $550 million: Total Number of % of. Loan Size Balance Loans Loans. <$50,000 $32 1,441 49.1% <$150,000 66 770 26.3% <$350,000 84 366 12.5% >$350,000 368 355 12.1% Total $550 2,932 PPP loans impacted selecte
Slide 6: Loan Modifications
Third Quarter 2020 Loan Modifications We continue to see declines in customers requiring needs-based payment deferrals and modifications to interest only periods. Modifications have been reduced to 5% of loans. June 30, 2020 August 31, 2020 September 30, 2020 Total Mod Mod Total Mod Mod Total Mod Mo
Slide 7: Commercial Loan Modifications
Third Quarter 2020 Commercial Loan Modifications Commercial loan modifications have been reduced to $350 million or 6% of the outstanding balance: Total Modified % of Bal Total Modified % of Bal Loan Type Loan Type Balance Balance Modified Balance Balance Modified Other $495 $28 6% Manufacturing $29
Slide 8: Hotels
Third Quarter 2020 Hotels The COVID-19 pandemic is negatively impacting the hospitality industry and our hotel portfolio: Portfolio Total Modified Balance Balance 9/30/20 9/30/20 Balance $243 $230 Number 57 45 • 84% of the portfolio is with a Average Size $4.3 $5.1 Marriott, Hilton, Holiday Inn, or
Slide 9: Allowance for Credit Losses
Third Quarter 2020 Allowance for Credit Losses After adopting CECL in 2020, we have prudently built our ACL in response to the pandemic, its impact on our customers, and the changing economic outlook: $ in millions Portfolio Changes: Includes balance changes, internal risk rating changes, and net ch
Slide 10: Net Interest Income
Third Quarter 2020 Net Interest Income We are asset sensitive but have experienced core NIM stabilization: • Our ex-PPP NIM was stable from Q2 to Q3 • We reduced brokered deposits by $269 million in Q3 due to low-cost customer deposit growth • We significantly reduced deposit rates several times thr
Slide 11: Capital
Third Quarter 2020 Capital We are well-capitalized and have sufficient excess capital: Key points: • The Leverage Ratio and TCE / TA are impacted by PPP. The ex-PPP Leverage Ratio is 9.71% and TCE / TA is 9.22%. • We are taking a prudent approach to capital management, given economic uncertainty. •
Slide 12: Appendix: Reconciliation of GAAP to Non-GAAP Financial Measures
Third Quarter 2020 Appendix Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures: 2020 2020 2019 Third Second Third Quarter Quarter Quarter (1) Tangible Book Value (non-GAAP) Total shareholders' equity $1,142,115 $1,135,777 $982,447 Less: goodwill and other intangible assets (382,68
Slide 13: Appendix: Reconciliation of GAAP to Non-GAAP Financial Measures
Third Quarter 2020 Appendix Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures: 2020 2020 2019 Third Second Third Quarter Quarter Quarter (4) Efficiency Ratio (non-GAAP) Noninterest expense $48,246 $43,478 $37,667 Less: merger related expenses — — — Noninterest expense excluding n
Slide 14: Appendix: Reconciliation of GAAP to Non-GAAP Financial Measures
Third Quarter 2020 Appendix Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures: The following profitability metrics are adjusted to exclude a $58.7 million loss related to a customer 2020 fraud in the second quarter ended June 30, 2020 and to exclude merger related expenses from t
Slide 15: Appendix: Reconciliation of GAAP to Non-GAAP Financial Measures
Third Quarter 2020 Appendix Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures: The following profitability metrics are adjusted to exclude a $58.7 million loss related to a customer 2020 fraud in the second quarter ended June 30, 2020 and to exclude merger related expenses from t
Slide 16: Third Quarter 2020 Earnings Supplement
Third Quarter 2020 Earnings Supplement MEMBER FDIC