S&t Bancorp, Inc. · NASDAQ:STBA
S&t Bancorp — Q2 2023 Earnings Presentation
12 slides from S&t Bancorp's earnings presentation, Jul 20, 2023
Slide 1: Second Quarter 2023 Earnings Supplement
Second Quarter 2023 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: Second Quarter Overview
3 Second Quarter Overview RETURNS EARNINGS *Refer to appendix for reconciliation of non-GAAP financial measures EPS $0.89 Net Income $34.5 million ROA 1.51% ROE 11.23% ROTE* 16.32% PPNR* 2.30% HIGHLIGHTS • Solid earnings and return metrics • PPNR increased by 7 basis points to 2.30% compared to 1Q23
Slide 4: Balance Sheet
Balance Sheet • Loans increased $68.5 million, or 3.8% annualized, since March 31, 2023 • Consumer growth of $90.3 million, or 18.1% annualized • Deposits relatively unchanged from March 31, 2023; $100 million of brokered CDs Dollars in millions 4 2Q23 1Q23 Var $228 $244 ($16) 970 999 (29) 7,320 7,2
Slide 5: Asset Quality
Asset Quality ACL 2Q23 vs 1Q23: Dollars in millions 5 ASSET QUALITY TRENDS • ACL down 5 basis points compared to 1Q23 due to a charge-off of a $4.2 million specific reserve • Net charge-offs of $11.0 million related to two C&I relationships • NPAs decreased $9.7 million to 0.25% of total loans plus
Slide 6: Net Interest Income
• NIM remains strong at 4.22%; a modest decline of 10 basis points from 1Q23 • NIM has expanded 110 basis points through this interest rate cycle • Quarterly net interest income has improved $19.7 million, or 28.8%, since the fourth quarter of 2021 Net Interest Income Dollars in millions; *Refer to
Slide 7: Noninterest Income
2Q23 2Q23 vs 1Q23 2Q23 vs 2Q22 Debit and Credit Card $4.7 $0.3 $0.0 Service Charges 3.9 (0.2) (0.3) Wealth 3.2 0.3 0.0 Mortgage 0.3 0.0 (0.2) Security Gain 0.0 0.0 0.0 Other 2.1 0.6 2.1 Noninterest Income $14.2 $1.0 $1.6 Noninterest Income 7Dollars in millions • Increase in other mainly related to a
Slide 8: Noninterest Expense
2Q23 2Q23 vs 1Q23 2Q23 vs 2Q22 Salaries & Benefits $25.4 ($2.2) $0.6 Data Processing 4.2 (0.1) 0.1 Occupancy 3.7 (0.1) 0.1 FF&E 3.2 0.3 0.3 Marketing 1.5 (0.4) — Professional Services 2.1 0.3 (0.3) Other Taxes 1.3 (0.5) (0.4) FDIC 1.0 — 0.1 Other 7.2 0.7 0.7 Noninterest Expense $49.6 ($2.0) $1.2 Non
Slide 9: Capital
Capital Dollars in millions; *Refer to appendix for reconciliation of non-GAAP financial measures 9 TCE / TA* • Capital levels remain strong • Share repurchases of $20.0 million in 2Q23
Slide 10: Return on Average Tangible Equity and PPNR Reconciliation
2Q23 Return on Average Tangible Shareholders' Equity (ROTE) (non-GAAP) Net income (annualized) $138,248 Plus: amortization of intangibles (annualized), net of tax 1,046 Net income before amortization of intangibles (annualized) $139,294 Average total shareholders' equity $1,230,615 Less: average goo
Slide 11: TCE/Tangible Assets and Efficiency Ratio Reconciliation
2Q23 1Q23 4Q22 3Q22 2Q22 1Q22 4Q21 Tangible Common Equity (TCE)/Tangible Assets (non-GAAP) Total shareholders' equity $1,212,853 $1,227,795 $1,184,659 $1,153,181 $1,178,358 Less: goodwill and other intangible assets, net of deferred tax liability (377,144) (377,405) (377,673) (377,961) (378,259) Tan
Slide 12: Second Quarter 2023 Earnings Supplement
Second Quarter 2023 Earnings Supplement