S&t Bancorp, Inc. · NASDAQ:STBA
S&t Bancorp — Q3 2022 Earnings Presentation
12 slides from S&t Bancorp's earnings presentation, Oct 20, 2022
Slide 1: Third Quarter 2022 Earnings Supplement
Third Quarter 2022 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: Third Quarter Overview
3 Third Quarter Overview RETURNS EARNINGS *Refer to appendix for reconciliation of non-GAAP financial measures EPS $0.95 Net Income $37.2 million ROA 1.64% ROE 12.47% ROTE* 18.46% PPNR* 2.15% HIGHLIGHTS • Record EPS and net income • EPS and net income increased more than 28% compared to 2Q22 • Solid
Slide 4: Loan Change by Type: Balance Sheet
Loan Change by Type: Balance Sheet • Loans, excluding PPP, increased 63 million, or 3.6% annualized, with consumer growth of $114 million • Deposits declined $202 million due to the rate environment Dollars in millions 4 CRE C&I Comm Const Residential Home Equity Consumer Cons Const ($75) ($50) ($25
Slide 5: Asset Quality
Asset Quality ACL 3Q22 VS 2Q22: Dollars in millions 5 ASSET QUALITY TRENDS • ACL increased mainly due to higher qualitative reserve for macro environment • NPAs decreased 26%, or $10 million • Minimal net charge-off activity in 2022
Slide 6: Net Interest Income
• Net interest income increased $8.6 million, or 11%, due to higher rates • NIM expanded 48 bps to 4.04% • We are well-positioned to benefit from rising rates Net Interest Income Dollars in millions; *Refer to appendix for reconciliation of non-GAAP financial measures 6 Loan Rate Sensitivity Mix 51%
Slide 7: Noninterest Income
3Q22 3Q22 vs 2Q22 3Q22 vs 3Q21 Debit and Credit Card $4.8 $0.0 $0.2 Service Charges 4.4 0.2 0.5 Wealth 3.2 0.0 (0.3) Mortgage 0.4 (0.1) (1.8) Security Gain 0.2 0.2 0.2 Other 1.8 1.8 0.1 Noninterest Income $14.8 $2.1 ($1.1) Noninterest Income 7Dollars in millions Increased due to lower unfavorable de
Slide 8: Noninterest Expense
3Q22 3Q22 vs 2Q22 3Q22 vs 3Q21 Salaries & Benefits $26.7 $1.9 $1.5 Data Processing 4.2 0.1 0.2 Occupancy 3.4 (0.2) (0.3) FF&E 2.9 0.0 0.2 Professional Services 1.9 (0.5) 0.3 Other Taxes 1.6 (0.1) (0.2) Marketing 1.4 (0.1) 0.5 FDIC 0.6 (0.3) (0.6) Other 6.9 0.4 0.8 Noninterest Expense $49.6 $1.2 $2.4
Slide 9: Capital
Capital Dollars in millions; *Refer to appendix for reconciliation of non-GAAP financial measures 9 TCE / TA* • Capital levels remain strong • TCE / TA is relatively unchanged despite AOCI adjustments • $3.5 million of buybacks executed in 3Q22
Slide 10: 3Q22 Return on Average Tangible Shareholders' Equity (non-GAAP)
3Q22 Return on Average Tangible Shareholders' Equity (non-GAAP) Net income (annualized) $147,781 Plus: amortization of intangibles (annualized), net of tax 1,181 Net income before amortization of intangibles (annualized) $148,962 Average total shareholders' equity $1,185,162 Less: average goodwill a
Slide 11: Efficiency Ratio and Net Interest Margin (non-GAAP)
3Q22 2Q22 1Q22 4Q21 3Q21 Efficiency Ratio (non-GAAP) Noninterest expense $49,633 $48,424 $47,414 $50,189 $47,241 Net interest income per consolidated statements of net income 83,798 75,194 67,733 68,438 68,712 Plus: taxable equivalent adjustment 521 506 493 510 557 Net interest income (FTE) (non-GAA
Slide 12: Third Quarter 2022 Earnings Supplement
Third Quarter 2022 Earnings Supplement