S&t Bancorp, Inc. · NASDAQ:STBA
S&t Bancorp — Q4 2023 Earnings Presentation
15 slides from S&t Bancorp's earnings presentation, Jan 25, 2024
Slide 1: Fourth Quarter 2023 Earnings Supplement
Fourth 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: Full Year Overview
3 Full Year Overview RETURNS EARNINGS *Refer to appendix for reconciliation of non-GAAP financial measures EPS $3.74 Net Income $144.8 million ROA 1.56% ROE 11.80% ROTE* 17.15% PPNR* 2.12% HIGHLIGHTS • Record EPS and net income • Strong return metrics and EPS growth of 8.09% • Solid NIM of 4.13% com
Slide 4: Fourth Quarter Overview
4 Fourth Quarter Overview RETURNS EARNINGS *Refer to appendix for reconciliation of non-GAAP financial measures EPS $0.96 Net Income $37.0 million ROA 1.55% ROE 11.79% ROTE* 17.00% PPNR* 1.97% HIGHLIGHTS • Strong earnings and return metrics • NIM remains solid at 3.92% • Net charge-offs of $3.6 mill
Slide 5: Balance Sheet
Balance Sheet • Loans increased $137.4 million, or 7.25% annualized, since September 30, 2023 • Customer deposit growth of $98.2 million in money market and CDs • Added $200.7 million of brokered money markets Dollars in millions 5 4Q23 3Q23 Var $234 $238 ($4) 970 955 15 7,653 7,516 137 7,522 7,223
Slide 6: Asset Quality
Asset Quality ACL Trend: Dollars in millions 6 ASSET QUALITY TRENDS • ACL relatively stable at 1.41% • Net charge-offs of $3.6 million, or 0.19% of average loans (annualized) • NPAs remain low at 0.30% of total loans plus OREO
Slide 7: Net Interest Income
• NIM was solid at 3.92% • NIM has increased 80 basis points through this interest rate cycle • Quarterly net interest income has improved $16.7 million, or 24.36%, since the fourth quarter of 2021 Net Interest Income Dollars in millions; *Refer to appendix for reconciliation of non-GAAP financial m
Slide 8: Noninterest Income
4Q23 4Q23 vs 3Q23 4Q23 vs 4Q22 Debit and Credit Card $4.5 ($0.2) $0.1 Service Charges 4.1 — (0.2) Wealth 3.1 0.1 0.1 Mortgage 0.3 — — Other 6.1 6.0 2.5 Noninterest Income $18.1 $5.9 $2.5 Noninterest Income 8Dollars in millions • Increase in other related to a $3.3 million gain on OREO and valuation
Slide 9: Noninterest Expense
4Q23 4Q23 vs 3Q23 4Q23 vs 4Q22 Salaries & Benefits $31.0 $3.5 $3.0 Data Processing 4.5 — 0.3 FF&E 3.7 0.6 0.7 Occupancy 3.6 (0.1) (0.2) Professional Services 2.0 — (0.1) Other Taxes 1.9 — 0.1 Marketing 1.4 (0.3) — FDIC 1.0 — 0.6 Other 7.1 (0.3) 0.5 Noninterest Expense $56.2 $3.4 $4.9 Noninterest Exp
Slide 10: Capital
Capital Dollars in millions; *Refer to appendix for reconciliation of non-GAAP financial measures 10 TCE / TA* • We have strong capital levels and are well positioned for growth • TCE / TA improvement due to strong earnings and AOCI
Slide 11: 4Q23 ROTE and PPNR Reconciliation
4Q23 Return on Average Tangible Shareholders' Equity (ROTE) (non-GAAP) Net income (annualized) $146,980 Plus: amortization of intangibles (annualized), net of tax 1,003 Net income before amortization of intangibles (annualized) $147,983 Average total shareholders' equity $1,247,030 Less: average goo
Slide 12: 2023 ROTE and PPNR Reconciliation
2023 Return on Average Tangible Shareholders' Equity (ROTE) (non-GAAP) Net income $144,781 Plus: amortization of intangibles, net of tax 1,042 Net income before amortization of intangibles $145,823 Average total shareholders' equity $1,227,332 Less: average goodwill and other intangible assets, net
Slide 13: 2023 Net Interest Margin Rate (FTE) Reconciliation
2023 Net Interest Margin Rate (FTE) (non-GAAP) Interest income and dividend income $477,901 Less: interest expense (128,491) Net interest income per consolidated statements of net income 349,410 Plus: taxable equivalent adjustment 2,550 Net interest income (FTE) (non-GAAP) $351,960 Average interest-
Slide 14: Tangible Common Equity/Tangible Assets and Efficiency Ratio Reconciliation
4Q23 3Q23 2Q23 1Q23 4Q22 3Q22 2Q22 1Q22 4Q21 Tangible Common Equity (TCE)/Tangible Assets (non-GAAP) Total shareholders' equity $1,283,445 $1,223,532 $1,212,853 $1,227,795 $1,184,659 Less: goodwill and other intangible assets, net of deferred tax liability (376,631) (376,883) (377,144) (377,405) (37
Slide 15: Fourth Quarter 2023 Earnings Supplement
Fourth Quarter 2023 Earnings Supplement