S&t Bancorp, Inc. · NASDAQ:STBA
S&t Bancorp — Q2 2025 Earnings Presentation
37 slides from S&t Bancorp's earnings presentation, Aug 29, 2025
Slide 1: Second Quarter 2025
Christopher J. McComish Chief Executive Officer David Antolik President Mark Kochvar Chief Financial Officer Second Quarter 2025
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: Corporate Profile
3 • Founded in Indiana, PA in 1902 • $9.8 billion in assets • $7.9 billion in deposits • $7.9 billion in loans • $1.5 billion market cap • Stock symbol: STBA Corporate Profile
Slide 4: Geographic Footprint
Geographic Footprint 4 Serving more than 130,000 households in Pennsylvania and Ohio Footprint comprises 9.6 million people and 222,000 businesses 1,200 team members providing exceptional customer satisfaction at more than 73 locations Akron Columbus Philadelphia Harrisburg Pittsburgh Indiana
Slide 5: Awards
Forbes America’s Best Midsize Employers S&T was honored as one of America’s Best Midsize Employers by Forbes and Statista in 2023 and 2024. This annual ranking is based on a survey of more that 170,000 U.S.-based workers at American companies that were asked to rate their employer. Awards Award-winn
Slide 6: Strategic Path
6 Strategic Path VALUES PURPOSE DRIVERS Our Shared Future represents a journey that began three years ago focused on building a foundation that enables profitable and sustainable growth.
Slide 7: Performance Drivers and Targets
Performance Drivers and Targets 7 Enterprise Risk Management Talent & Engagement Deposit Franchise Loans/Deposits below median Cost of Deposits below median Core Profitability PPNR/Avg Assets top quartile NIM above median Asset Quality NCO/Loans below median NPA/Loans & OREO below median Valuation P
Slide 8: Strategic Priorities
Strategic Priorities Positioned to execute on customer growth strategies to improve operating leverage Maintain peer median asset quality enabling a greater focus on growth Strategically positioned to capitalize on targeted M&A opportunities
Slide 9: Organic Growth
Loan Highlights • Commercial pipelines double the size from one year ago • Asset quality improvement allowing us to focus on growth Future Opportunities • Continue expanding our business and commercial banking teams and capabilities • Growth opportunities in C&I, CRE and Business Banking • Home equi
Slide 10: Energy and AI Data Center Campus: Homer City Redevelopment Project
10 • Homer City Generating Station will be transformed to the new Homer City Energy Campus that will include natural gas- powered data centers to support AI and high-performance computing. • Capital investment of more than $10 billion for power generation, with data center development injecting bill
Slide 11: Mergers & Acquisitions
11 M&A Target Priorities • Existing or contiguous market expansion with institutions $1 - $6 billion in assets • Enhancement of deposit franchise • Access to growing markets • Alignment of cultures S&T Preparedness • Record levels of capital • Strong performer with solid return metrics • Infrastruct
Slide 12: Asset Quality
Asset Quality 12 0.23% 1.80% 2.92% (1) Peer median. Refer to appendix for peer group. Peer data from S&P Global Market Intelligence. 1.32% 14.41% Maintain peer median asset quality enabling a greater focus on growth Asset Quality Highlights • Asset quality improvement positively impacted earnings in
Slide 13: Second Quarter Overview
13 Second Quarter Overview RETURN METRICS EARNINGS Net Income $31.9 million *Refer to appendix for reconciliation of non-GAAP financial measures EPS $0.83 ROA 1.32% ROE 8.91% ROTE* 12.12% PPNR* 1.73% HIGHLIGHTS • Strong earnings and return metrics • Net interest income growth of 3.90% • NIM expansio
Slide 14: Performance
PPNR / AVERAGE ASSETS * 2021 2022 2023 2024 YTD 2025 0.0% 0.6% 1.2% 1.8% 2.4% RETURN ON AVERAGE TANGIBLE EQUITY * 2021 2022 2023 2024 YTD 2025 0.0% 5.0% 10.0% 15.0% 20.0% RETURN ON AVERAGE ASSETS 2021 2022 2023 2024 YTD 2025 0.0% 0.4% 0.8% 1.2% 1.6% RETURN ON AVERAGE EQUITY 2021 2022 2023 2024 YTD 2
Slide 15: Balance Sheet
15 Balance Sheet • Loan growth of $98.1 million (5.02% annualized); $67.3 million of commercial and $30.8 million of consumer growth • Customer deposit growth of $28.0 million (1.42% annualized) • DDA increased $18 million and comprises 28% of total deposits Dollars in millions 2Q25 1Q25 Var $ 203 $
Slide 16: Loan Mix
Loan Mix Our loan portfolio is well-diversified: Dollars in millions 16 Amount % of Total CRE $3,520 44% Consumer 2,504 32% C&I 1,512 19% Construction 398 5% Total $7,934 100%
Slide 17: Deposit Mix
Deposit Mix We have a strong, well-diversified deposit base of more than 130,000 households: Dollars in millions 17 Amount % of Total DDA $2,182 28% MM 2,236 28% CDs 1,885 24% Savings 879 11% Int Bear DDA 738 9% Total $7,920 100% Amount % of Total Average Account Size (in $000) Average Age (in years
Slide 18: Funding Sources
18 FUNDING SOURCES Funding Capacity • Strong liquidity position with well-diversified deposit base • Significant funding availability through FHLB and Federal Reserve • Insured and collateralized municipal deposits comprise 71% of total deposits • Funding availability meets liquidity needs in both n
Slide 19: Asset Quality
19 Asset Quality ACL Trend: Dollars in millions ASSET QUALITY TRENDS • ACL decreased 2 basis points to 1.24% compared to 1.26% at March 31, 2025 • Net loan charge-offs of only $1.2 million, or 0.06% of total loans • NPAs decreased 2 basis points to 0.27% of total portfolio loans plus OREO % o f A ve
Slide 20: Net Interest Income
20 Net Interest Income Dollars in millions; *Refer to appendix for reconciliation of non-GAAP financial measures $83.6 $84.5 $83.3 $83.3 $86.6 3.85% 3.82% 3.77% 3.81% 3.88% 3.16% 3.23% 3.26% 3.38% 3.48% NII NIM FTE* Peer 2Q24 3Q24 4Q24 1Q25 2Q25 Total Cost of Funds 0.05% 0.07% (0.11)% (0.12)% 2.24%
Slide 21: Noninterest Income
21 2Q25 2Q25 vs 1Q25 2Q25 vs 2Q24 Debit and Credit Card $4.6 $0.4 ($0.1) Service Charges 4.1 0.1 — Wealth Management 3.0 — — Loss on Sale of Securities — 2.3 3.2 Other 1.8 0.3 (2.9) Noninterest Income $13.5 $3.1 $0.2 Noninterest Income Dollars in millions • Customer activity seasonally higher compar
Slide 22: Noninterest Expense
22 2Q25 2Q25 vs 1Q25 2Q25 vs 2Q24 Salaries & Benefits $32.9 $3.0 $2.5 Data Processing 4.8 (0.1) 0.6 Occupancy 4.0 (0.3) 0.4 FF&E 3.4 (0.1) — Other Taxes 2.1 0.6 0.7 Professional Services 1.7 0.5 0.3 Marketing 1.5 (0.1) 0.1 FDIC 1.1 — — Other 6.6 (0.5) (0.1) Noninterest Expense $58.1 $3.0 $4.5 Nonint
Slide 23: Securities
23 Securities • Securities portfolio is only 10% of total assets • 100% of securities portfolio is classified as available for sale • Average duration of 3.9 years • AOCI of $46.1 million related to securities portfolio, if realized, would decrease CET1 ratio by 59 basis points from 14.59% to 14.00%
Slide 24: Capital
24 Capital Dollars in millions; *Refer to appendix for reconciliation of non-GAAP financial measures TCE / TA* • We have strong capital levels and are well positioned for growth • TCE / TA higher from prior quarter due to lower AOCI and strong earnings 10.21% 10.86% 10.82% 11.16% 11.34% 2Q24 3Q24 4Q
Slide 25: Income Statement
Income Statement 2Q25 2024 2023 2022 2021 (Dollars in thousands, except per share data) YTD Net Interest Income $169,895 $334,806 $349,410 $315,783 $276,112 Noninterest Income 23,929 49,083 57,620 58,259 64,696 Total Revenue 193,824 383,889 407,030 374,042 340,808 Noninterest Expense 113,205 218,938
Slide 26: Balance Sheet
Financial Data 26 Balance Sheet 2Q25 2024 2023 2022 2021 (Dollars in thousands) Total Securities $1,021,183 $987,591 $970,391 $1,002,778 $910,793 Cash and Interest-bearing Deposits 203,118 244,820 233,612 210,009 922,215 Total Net Loans 7,835,854 7,641,464 7,545,528 7,082,645 6,902,936 Other Assets
Slide 27: Net Interest Margin
Net Interest Margin 2Q25 2024 2023 2022 2021 YTD Securities - FTE(1) 3.69% 3.05% 2.61% 2.25% 2.18% Loans - FTE(1) 6.01% 6.24% 6.04% 4.50% 3.84% Total Interest-earning Assets - FTE(1) 5.73% 5.87% 5.64% 4.06% 3.37% Interest-bearing Deposits 2.76% 2.92% 1.92% 0.40% 0.20% Borrowings 4.99% 5.41% 5.59% 3.
Slide 28: Loan Portfolio
Financial Data 28 Loan Portfolio 2Q25 2024 2023 2022 2021 (Dollars in thousands) Commercial Real Estate $3,520,294 $3,388,017 $3,357,603 $3,128,187 $3,236,653 Commercial and Industrial 1,512,027 1,540,397 1,642,106 1,718,976 1,728,969 Commercial Construction 397,785 352,886 363,284 399,371 440,962 T
Slide 29: Asset Quality
Asset Quality 2Q25 2024 2023 2022 2021 (Dollars in thousands) Total Nonaccrual Loans $21,312 $27,937 $22,946 $19,052 $66,291 Nonaccrual Loans/Total Loans 0.27% 0.36% 0.30% 0.27% 0.95% Nonperforming Assets/Total Loans + OREO 0.27% 0.36% 0.30% 0.31% 1.13% Net Charge-offs/Average Loans(1) 0.03% 0.11% 0
Slide 30: Capital
Capital 2Q25 2024 2023 2022 2021 Tier 1 Leverage 12.18% 11.98% 11.21% 11.06% 9.74% Common Equity Tier 1 – Risk-Based Capital 14.59% 14.58% 13.37% 12.81% 12.03% Tier 1 – Risk-Based Capital 14.91% 14.90% 13.69% 13.21% 12.43% Total – Risk-Based Capital 16.48% 16.49% 15.27% 14.73% 13.79% Tangible Common
Slide 31: Appendix Peer Group
Appendix Peer Group 31 Company Ticker 1st Source Corporation SRCE Camden National Corp. CAC City Holding Company CHCO CNB Financial Corp. CCNE Community Bank System, Inc. CBU First Commonwealth Financial Corporation FCF First Financial Bancorp. FFBC First Merchants Corporation FRME German American B
Slide 32: Non-GAAP Reconciliation: ROTE and PPNR
2Q25 (Dollars in thousands) Return on Average Tangible Shareholders' Equity (ROTE) (non-GAAP) Net income (annualized) $127,951 Plus: amortization of intangibles (annualized), net of tax 653 Net income before amortization of intangibles (annualized) $128,604 Average total shareholders' equity $1,436,
Slide 33: Non-GAAP Reconciliation: TCE/Tangible Assets and Efficiency Ratio
2Q25 1Q25 4Q24 3Q24 2Q24 (Dollars in thousands) Tangible Common Equity (TCE)/Tangible Assets (non-GAAP) Total shareholders' equity $1,445,493 $1,418,034 $1,380,294 $1,375,754 $1,321,443 Less: goodwill and other intangible assets, net of deferred tax liability (375,522) (375,646) (375,837) (375,931)
Slide 34: Non-GAAP Reconciliation: ROTE Annual
2Q25 2024 2023 2022 2021 (Dollars in thousands) YTD Return on Average Tangible Shareholders' Equity (ROTE) (non-GAAP) Net income(1) $131,684 $131,265 $144,781 $135,520 $110,343 Plus: amortization of intangibles, net of tax(1) 712 904 1,042 1,199 1,400 Net income before amortization of intangibles(1)
Slide 35: Non-GAAP Reconciliation: PPNR/Average Assets
2Q25 2024 2023 2022 2021 (Dollars in thousands) YTD PPNR/Average Assets (Non-GAAP) Income before taxes $81,685 $164,818 $178,804 $168,930 $135,668 Less: net losses (gains) on sale of securities 2,295 7,938 — (198) (29) Less: gain on Visa Class B-1 exchange — (3,492) — — — Plus: provision for credit
Slide 36: Non-GAAP Reconciliation: Net Interest Margin
2Q25 2024 2023 2022 2021 (Dollars in thousands) YTD Interest and Dividend Income Interest-bearing deposits with banks $2,751 $8,855 $7,344 $2,952 $973 Securities 18,450 29,665 25,207 22,449 17,432 Loans 233,160 476,083 442,675 314,774 270,460 Other earning assets 601 1,269 2,675 576 397 Total Intere
Slide 37: Second Quarter 2025
Christopher J. McComish Chief Executive Officer Mark Kochvar Chief Financial Officer Second Quarter 2025