S&t Bancorp, Inc. · NASDAQ:STBA
S&t Bancorp — Q4 2024 Earnings Presentation
15 slides from S&t Bancorp's earnings presentation, Jan 30, 2025
Slide 1: Full Year and Fourth Quarter 2024 Earnings Supplement
Full Year and Fourth Quarter 2024 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 RETURN METRICS EARNINGS *Refer to appendix for reconciliation of non-GAAP financial measures EPS $3.41 Net Income $131.3 million ROA 1.37% ROE 9.86% ROTE* 13.84% PPNR* 1.77% HIGHLIGHTS • Solid return metrics • Positioned for growth with strong capital levels • Strong NIM of 3.82
Slide 4: Fourth Quarter Overview
4 Fourth Quarter Overview RETURN METRICS EARNINGS Net Income $33.1 million *Refer to appendix for reconciliation of non-GAAP financial measures EPS $0.86 ROA 1.37% ROE 9.57% ROTE* 13.25% PPNR* 1.72% HIGHLIGHTS • Solid return metrics • Strong NIM at 3.77% • Total deposit growth of $128.3 million with
Slide 5: Balance Sheet
Balance Sheet • Strong customer deposit growth of $78.3 million (4.15% annualized) • Reduction in borrowings of $88.1 million • Loan growth of $53.9 million impacted by significant pay-offs; positive momentum in loan pipelines Dollars in millions 5 4Q24 3Q24 Var $ 245 $ 228 $ 17 988 1,011 (23) 7,743
Slide 6: Asset Quality
Asset Quality ACL Trend: Dollars in millions 6 ASSET QUALITY TRENDS • ACL down 5 basis points to 1.31% compared to 1.36% at September 30, 2024 • Net loan recoveries of $0.1 million • NPAs decreased 5 basis points to 0.36% of total portfolio loans plus OREO % o f A verage Lo ans Net Loan Charge-Offs/
Slide 7: Net Interest Income
• NIM remains strong; decreased 5 basis points • Cost of funds improved 11 basis points due to deposit rate cuts and reduced levels of borrowings Net Interest Income Dollars in millions; *Refer to appendix for reconciliation of non-GAAP financial measures 7 $85.1 $83.5 $83.6 $84.5 $83.3 3.92% 3.84%
Slide 8: Noninterest Income
4Q24 4Q24 vs 3Q24 4Q24 vs 4Q23 Debit and Credit Card $4.6 ($0.1) $0.1 Service Charges 4.2 — — Wealth 3.2 0.1 0.1 Security Loss (2.6) (0.4) (2.6) Other 1.7 (0.4) (4.6) Noninterest Income $11.1 ($0.8) ($7.0) Noninterest Income 8Dollars in millions • Security Loss of $2.6 million related to repositioni
Slide 9: Noninterest Expense
4Q24 4Q24 vs 3Q24 4Q24 vs 4Q23 Salaries & Benefits $30.8 ($0.5) ($0.1) Data Processing 5.3 0.3 0.8 Occupancy 3.8 (0.1) 0.2 FF&E 3.3 (0.1) (0.5) Other Taxes 2.3 0.4 0.4 Marketing 1.6 0.2 0.2 Professional Services 1.1 (0.1) (0.9) FDIC 1.0 — — Other 6.2 (0.1) (0.9) Noninterest Expense $55.4 $0.0 ($0.8)
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 down slightly from prior quarter due to higher AOCI 9.88% 10.03% 10.21% 10.86% 10.82% 4Q23 1Q24 2Q24 3Q24 4Q24
Slide 11: 4Q24 ROTE and PPNR Reconciliation (non-GAAP)
4Q24 Return on Average Tangible Shareholders' Equity (ROTE) (non-GAAP) Net income (annualized) $131,541 Plus: amortization of intangibles (annualized), net of tax 858 Net income before amortization of intangibles (annualized) $132,399 Average total shareholders' equity $1,374,907 Less: average goodw
Slide 12: 2024 ROTE and PPNR Reconciliation (non-GAAP)
2024 Return on Average Tangible Shareholders' Equity (ROTE) (non-GAAP) Net income $131,265 Plus: amortization of intangibles, net of tax 904 Net income before amortization of intangibles $132,169 Average total shareholders' equity $1,330,870 Less: average goodwill and other intangible assets, net of
Slide 13: 2024 Net Interest Margin Rate (FTE) (non-GAAP)
2024 Net Interest Margin Rate (FTE) (non-GAAP) Interest income and dividend income $515,872 Less: interest expense (181,066) Net interest income per consolidated statements of net income 334,806 Plus: taxable equivalent adjustment 2,706 Net interest income (FTE) (non-GAAP) $337,512 Average interest-
Slide 14: TCE/Tangible Assets and Efficiency Ratio (non-GAAP)
4Q24 3Q24 2Q24 1Q24 4Q23 Tangible Common Equity (TCE)/Tangible Assets (non-GAAP) Total shareholders' equity $1,380,294 $1,375,754 $1,321,443 $1,295,074 $1,283,445 Less: goodwill and other intangible assets, net of deferred tax liability (375,837) (375,931) (376,154) (376,396) (376,631) Tangible comm
Slide 15: Fourth Quarter 2024 Earnings Supplement
Fourth Quarter 2024 Earnings Supplement