SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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S
&
T Bancorp, Inc.
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April 18, 2019
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/s/ Mark Kochvar
Mark Kochvar
Senior Executive Vice President, Chief Financial Officer |
CONTACT:
Mark Kochvar
Chief Financial Officer
724.465.4826
800 Philadelphia Street
Indiana, PA 15701
mark.kochvar@stbank.com
www.stbancorp.com
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•
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Return on average assets (ROA) was 1.29%, return on average equity (ROE) was 9.84% and return on average tangible equity (ROTE) (non-GAAP) was 14.27%.
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•
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Net interest margin (FTE) (non-GAAP) increased 6 basis points to 3.71% and net interest income increased $0.5 million to $60.3 million compared to the fourth quarter of 2018.
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•
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Average loan balances increased $75.3 million compared to the fourth quarter of 2018.
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•
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Deposits increased $159.5 million, or 11.4% annualized, compared to the fourth quarter of 2018.
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•
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S
&
T's Board of Directors declared a $0.27 per share dividend, which is an increase of 8% compared to a $0.25 dividend in the same period last year.
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•
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Recognized as a World’s Best Bank by Forbes receiving the #3 ranking in the United States out of 60 institutions.
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S
&
T Bancorp, Inc.
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S
&
T Earnings Release -
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4
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Consolidated Selected Financial Data
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Unaudited
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2019
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2018
|
|
2018
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|||
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First
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Fourth
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First
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(dollars in thousands, except per share data)
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Quarter
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Quarter
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Quarter
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|||
INTEREST AND DIVIDEND INCOME
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Loans, including fees
|
$73,392
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$71,515
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$63,055
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|||
Investment securities:
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Taxable
|
3,790
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3,746
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3,429
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|||
Tax-exempt
|
844
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|
845
|
|
874
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|||
Dividends
|
564
|
|
483
|
|
671
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|
|||
Total Interest and Dividend Income
|
78,590
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|
76,589
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68,029
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|||
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INTEREST EXPENSE
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|||
Deposits
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14,981
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|
12,973
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|
7,846
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|||
Borrowings and junior subordinated debt securities
|
3,253
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|
3,774
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|
3,251
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|||
Total Interest Expense
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18,234
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|
16,747
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|
11,097
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|||
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|||
NET INTEREST INCOME
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60,356
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|
59,842
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|
56,932
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|||
Provision for loan losses
|
5,649
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|
2,716
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|
2,472
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|||
Net Interest Income After Provision for Loan Losses
|
54,707
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57,126
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54,460
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|||
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|||
NONINTEREST INCOME
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|||
Net gain on sale of securities
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—
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—
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—
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Service charges on deposit accounts
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3,153
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|
3,071
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|
3,241
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|||
Debit and credit card
|
2,974
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|
3,192
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|
3,037
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|||
Wealth management
|
2,048
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|
2,302
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2,682
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|||
Mortgage banking
|
494
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630
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|
602
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|||
Gain on sale of a majority interest of insurance business
|
—
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—
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1,873
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Other
|
2,693
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1,900
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|
2,357
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|||
Total Noninterest Income
|
11,362
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|
11,095
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13,792
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|||
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NONINTEREST EXPENSE
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|||
Salaries and employee benefits
|
20,910
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|
18,913
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18,815
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|||
Data processing and information technology
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3,233
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|
3,024
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2,325
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Net occupancy
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3,036
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2,697
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2,873
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Furniture, equipment and software
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2,230
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1,988
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1,957
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Other taxes
|
1,185
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|
1,255
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1,848
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Professional services and legal
|
1,184
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|
1,011
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1,051
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Marketing
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1,141
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1,276
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|
702
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|||
FDIC insurance
|
516
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|
645
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|
1,108
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|||
Other
|
5,484
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|
5,606
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5,403
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|||
Total Noninterest Expense
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38,919
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|
36,415
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|
36,082
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|||
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Income Before Taxes
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27,150
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31,806
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32,170
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|||
Provision for income taxes
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4,222
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4,952
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6,007
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|||
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|||
Net Income
|
$22,928
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$26,854
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$26,163
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Per Share Data
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Shares outstanding at end of period
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34,330.136
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34,683,874
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35,000,502
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|||
Average shares outstanding - diluted
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34,542,811
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34,867,171
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34,999,165
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Diluted earnings per share
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$0.66
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$0.77
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$0.75
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Dividends declared per share
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$0.27
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$0.27
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$0.22
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Dividend yield (annualized)
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2.73
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%
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2.85
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%
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2.20
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%
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Dividends paid to net income
|
40.64
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%
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35.09
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%
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29.31
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%
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Book value
|
$27.47
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$26.98
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$25.58
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|||
Tangible book value
(1)
|
$19.04
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$18.63
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$17.30
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Market value
|
$39.53
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$37.84
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$39.94
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Profitability Ratios (annualized)
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Return on average assets
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1.29
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%
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|
1.50
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%
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1.51
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%
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Return on average shareholders' equity
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9.84
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%
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|
11.50
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%
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|
11.92
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%
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Return on average tangible shareholders' equity
(2)
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14.27
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%
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16.82
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%
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|
17.83
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%
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|
Efficiency ratio (FTE)
(3)
|
53.55
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%
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|
50.64
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%
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|
50.35
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%
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S
&
T Bancorp, Inc.
|
|
S
&
T Earnings Release -
|
5
|
Consolidated Selected Financial Data
|
|
|
|
Unaudited
|
|
|
|
|
2019
|
|
2018
|
|
2018
|
|
|||
|
First
|
|
Fourth
|
|
First
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|
|||
(dollars in thousands)
|
Quarter
|
|
Quarter
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|
Quarter
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|
|||
ASSETS
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|||
Cash and due from banks, including interest-bearing deposits
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$116,820
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$155,489
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$112,849
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|||
Securities, at fair value
|
680,420
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|
684,872
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|
687,650
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|
|||
Loans held for sale
|
2,706
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|
2,371
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|
3,283
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|||
Commercial loans:
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|||
Commercial real estate
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2,901,625
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2,921,832
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2,760,891
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|||
Commercial and industrial
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1,513,007
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1,493,416
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1,406,950
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|||
Commercial construction
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245,658
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257,197
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324,141
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|||
Total Commercial Loans
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4,660,290
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4,672,445
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4,491,982
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|||
Consumer loans:
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|||
Residential mortgage
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729,914
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726,679
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692,385
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|||
Home equity
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463,566
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|
471,562
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|
474,850
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|||
Installment and other consumer
|
70,960
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67,546
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66,890
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Consumer construction
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10,722
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8,416
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4,506
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Total Consumer Loans
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1,275,162
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1,274,203
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|
1,238,631
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Total Portfolio Loans
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5,935,452
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|
5,946,648
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|
5,730,613
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Allowance for loan losses
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(61,409)
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(60,996)
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(59,046)
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|
|||
Total Portfolio Loans, Net
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5,874,043
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5,885,652
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|
5,671,567
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|||
Federal Home Loan Bank and other restricted stock, at cost
|
19,959
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|
29,435
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|
29,769
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|
|||
Goodwill
|
287,446
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|
287,446
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|
287,446
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|
|||
Other assets
|
247,868
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|
206,956
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|
212,765
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|
|||
Total Assets
|
$7,229,262
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|
$7,252,221
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|
$7,005,329
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|||
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LIABILITIES
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|
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|
|||
Deposits:
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|
|
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|
|||
Noninterest-bearing demand
|
$1,423,436
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$1,421,156
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$1,368,350
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|||
Interest-bearing demand
|
541,053
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|
573,693
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|
560,711
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|
|||
Money market
|
1,700,964
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|
1,482,065
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|
1,239,400
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|
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Savings
|
767,175
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|
784,970
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|
876,459
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|
|||
Certificates of deposit
|
1,400,773
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|
1,412,038
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|
1,342,174
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|
|||
Total Deposits
|
5,833,401
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|
5,673,922
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|
5,387,094
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|
|||
|
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|
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|
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|
|||
Borrowings:
|
|
|
|
|
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|
|||
Securities sold under repurchase agreements
|
23,427
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|
18,383
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|
44,617
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|
|||
Short-term borrowings
|
235,000
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|
470,000
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|
525,000
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|
|||
Long-term borrowings
|
70,418
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|
70,314
|
|
46,684
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|
|||
Junior subordinated debt securities
|
45,619
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|
45,619
|
|
45,619
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|
|||
Total Borrowings
|
374,464
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|
604,316
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|
661,920
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|
|||
Other liabilities
|
78,241
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|
38,222
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|
60,908
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|
|||
Total Liabilities
|
6,286,106
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|
6,316,460
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|
6,109,922
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|
|||
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|||
SHAREHOLDERS' EQUITY
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|
|
|
|
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|
|||
Total Shareholders' Equity
|
943,156
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|
935,761
|
|
895,407
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|
|||
Total Liabilities and Shareholders' Equity
|
$7,229,262
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|
$7,252,221
|
|
$7,005,329
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|||
|
|
|
|
|
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|
|||
Capitalization Ratios
|
|
|
|
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|
|||
Shareholders' equity / assets
|
13.05
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%
|
|
12.90
|
%
|
|
12.78
|
%
|
|
Tangible common equity / tangible assets
(4)
|
9.42
|
%
|
|
9.28
|
%
|
|
9.02
|
%
|
|
Tier 1 leverage ratio
|
9.96
|
%
|
|
10.05
|
%
|
|
9.72
|
%
|
|
Common equity tier 1 capital
|
11.35
|
%
|
|
11.38
|
%
|
|
11.02
|
%
|
|
Risk-based capital - tier 1
|
11.69
|
%
|
|
11.72
|
%
|
|
11.36
|
%
|
|
Risk-based capital - total
|
13.19
|
%
|
|
13.21
|
%
|
|
12.85
|
%
|
|
|
|
|
|
S
&
T Bancorp, Inc.
|
|
S
&
T Earnings Release -
|
6
|
Consolidated Selected Financial Data
|
|
|
|
Unaudited
|
|
|
|
|
2019
|
|
2018
|
|
2018
|
|
|
First
|
|
Fourth
|
|
First
|
|
(dollars in thousands)
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Net Interest Margin (FTE) (QTD Averages)
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
|
Interest-bearing deposits with banks
|
$53,588
|
2.63%
|
$56,790
|
2.03%
|
$56,008
|
1.65%
|
Securities, at fair value
|
680,517
|
2.68%
|
678,832
|
2.70%
|
686,912
|
2.53%
|
Loans held for sale
|
894
|
4.07%
|
1,022
|
4.05%
|
1,949
|
5.65%
|
Commercial real estate
|
2,905,272
|
5.02%
|
2,869,532
|
4.91%
|
2,690,990
|
4.57%
|
Commercial and industrial
|
1,508,658
|
5.20%
|
1,469,534
|
4.94%
|
1,431,588
|
4.41%
|
Commercial construction
|
249,997
|
5.37%
|
266,922
|
4.91%
|
375,129
|
4.51%
|
Total Commercial Loans
|
4,663,927
|
5.10%
|
4,605,988
|
4.92%
|
4,497,707
|
4.51%
|
Residential mortgage
|
722,554
|
4.38%
|
705,082
|
4.36%
|
694,303
|
4.19%
|
Home equity
|
467,739
|
5.44%
|
471,830
|
5.15%
|
481,053
|
4.47%
|
Installment and other consumer
|
69,099
|
7.17%
|
67,444
|
7.00%
|
66,861
|
6.69%
|
Consumer construction
|
9,466
|
6.19%
|
7,077
|
5.29%
|
3,810
|
4.69%
|
Total Consumer Loans
|
1,268,858
|
4.93%
|
1,251,433
|
4.80%
|
1,246,027
|
4.43%
|
Total Portfolio Loans
|
5,932,785
|
5.06%
|
5,857,421
|
4.90%
|
5,743,734
|
4.50%
|
Total Loans
|
5,933,679
|
5.06%
|
5,858,443
|
4.90%
|
5,745,683
|
4.50%
|
Federal Home Loan Bank and other restricted stock
|
24,471
|
8.49%
|
28,025
|
6.27%
|
31,216
|
8.05%
|
Total Interest-earning Assets
|
6,692,255
|
4.81%
|
6,622,090
|
4.65%
|
6,519,819
|
4.28%
|
Noninterest-earning assets
|
518,500
|
|
499,254
|
|
488,808
|
|
Total Assets
|
$7,210,755
|
|
$7,121,344
|
|
$7,008,627
|
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS' EQUITY
|
|
|
|
|
|
|
Interest-bearing demand
|
$545,695
|
0.41%
|
$568,735
|
0.39%
|
$575,377
|
0.26%
|
Money market
|
1,568,417
|
1.89%
|
1,418,220
|
1.69%
|
1,194,053
|
1.10%
|
Savings
|
770,587
|
0.25%
|
798,734
|
0.24%
|
874,318
|
0.20%
|
Certificates of deposit
|
1,434,511
|
1.88%
|
1,354,538
|
1.72%
|
1,355,617
|
1.14%
|
Total interest-bearing Deposits
|
4,319,210
|
1.41%
|
4,140,227
|
1.24%
|
3,999,365
|
0.80%
|
Securities sold under repurchase agreements
|
23,170
|
0.52%
|
45,101
|
0.62%
|
47,774
|
0.39%
|
Short-term borrowings
|
319,389
|
2.72%
|
433,642
|
2.54%
|
596,014
|
1.71%
|
Long-term borrowings
|
70,196
|
2.84%
|
52,949
|
2.75%
|
46,938
|
1.99%
|
Junior subordinated debt securities
|
45,619
|
5.21%
|
45,619
|
4.86%
|
45,619
|
4.14%
|
Total Borrowings
|
458,374
|
2.88%
|
577,311
|
2.59%
|
736,345
|
1.79%
|
Total interest-bearing Liabilities
|
4,777,584
|
1.55%
|
4,717,538
|
1.41%
|
4,735,710
|
0.95%
|
Noninterest-bearing liabilities
|
1,488,057
|
|
1,477,024
|
|
1,383,109
|
|
Shareholders' equity
|
945,114
|
|
926,782
|
|
889,808
|
|
Total Liabilities and Shareholders' Equity
|
$7,210,755
|
|
$7,121,344
|
|
$7,008,627
|
|
|
|
|
|
|
|
|
Net Interest Margin
(5)
|
|
3.71%
|
|
3.65%
|
|
3.59%
|
|
|
|
|
|
|
|
|
|
|
|
S
&
T Bancorp, Inc.
|
|
S
&
T Earnings Release -
|
7
|
Consolidated Selected Financial Data
|
|
|
|
Unaudited
|
|
|
|
|
2019
|
|
2018
|
|
2018
|
|
||||||
|
First
|
|
Fourth
|
|
First
|
|
||||||
(dollars in thousands)
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
||||||
Nonperforming Loans (NPL)
|
|
|
|
|
|
|
||||||
Commercial loans:
|
|
% NPL
|
|
% NPL
|
|
% NPL
|
||||||
Commercial real estate
|
|
$29,109
|
|
1.00%
|
|
$12,052
|
|
0.41%
|
|
$3,952
|
|
0.14%
|
Commercial and industrial
|
6,810
|
|
0.45%
|
8,960
|
|
0.60%
|
4,617
|
|
0.33%
|
|||
Commercial construction
|
1,226
|
|
0.50%
|
14,193
|
|
5.52%
|
1,873
|
|
0.58%
|
|||
Total Nonperforming Commercial Loans
|
37,145
|
|
0.80%
|
35,205
|
|
0.75%
|
10,442
|
|
0.23%
|
|||
Consumer loans:
|
|
|
|
|
|
|
||||||
Residential mortgage
|
6,630
|
|
0.91%
|
7,128
|
|
0.98%
|
6,715
|
|
0.97%
|
|||
Home equity
|
4,146
|
|
0.89%
|
3,698
|
|
0.78%
|
4,109
|
|
0.87%
|
|||
Installment and other consumer
|
29
|
|
0.04%
|
42
|
|
0.06%
|
69
|
|
0.10%
|
|||
Total Nonperforming Consumer Loans
|
10,805
|
|
0.85%
|
10,868
|
|
0.85%
|
10,893
|
|
0.88%
|
|||
Total Nonperforming Loans
|
|
$47,950
|
|
0.81%
|
|
$46,073
|
|
0.77%
|
|
$21,335
|
|
0.37%
|
|
2019
|
|
2018
|
|
2018
|
|
||||||
|
First
|
|
Fourth
|
|
First
|
|
||||||
(dollars in thousands)
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
||||||
Loan Charge-offs/(Recoveries)
|
|
|
|
|
|
|
||||||
Charge-offs
|
|
$6,023
|
|
|
|
$3,279
|
|
|
|
$1,444
|
|
|
Recoveries
|
(788
|
)
|
|
(1,002
|
)
|
|
(1,628
|
)
|
|
|||
Net Loan Charge-offs/(Recoveries)
|
|
$5,235
|
|
|
|
$2,277
|
|
|
|
($184
|
)
|
|
|
|
|
|
|
|
|
||||||
Net Loan Charge-offs/(Recoveries)
|
|
|
|
|
|
|
||||||
Commercial loans:
|
|
|
|
|
|
|
||||||
Commercial real estate
|
|
($121
|
)
|
|
|
($17
|
)
|
|
|
($48
|
)
|
|
Commercial and industrial
|
5,059
|
|
|
(567
|
)
|
|
712
|
|
|
|||
Commercial construction
|
(1
|
)
|
|
2,308
|
|
|
(1,129
|
)
|
|
|||
Total Commercial Loan Charge-offs/(Recoveries)
|
4,937
|
|
|
1,724
|
|
|
(465
|
)
|
|
|||
Consumer loans:
|
|
|
|
|
|
|
||||||
Residential mortgage
|
115
|
|
|
191
|
|
|
53
|
|
|
|||
Home equity
|
(19
|
)
|
|
133
|
|
|
(123
|
)
|
|
|||
Installment and other consumer
|
284
|
|
|
297
|
|
|
359
|
|
|
|||
Consumer construction
|
(82
|
)
|
|
(68
|
)
|
|
(8
|
)
|
|
|||
Total Consumer Loan Charge-offs
|
298
|
|
|
553
|
|
|
281
|
|
|
|||
Total Net Loan Charge-offs/(Recoveries)
|
|
$5,235
|
|
|
|
$2,277
|
|
|
|
($184
|
)
|
|
|
2019
|
|
2018
|
|
2018
|
|
||||||
|
First
|
|
Fourth
|
|
First
|
|
||||||
(dollars in thousands)
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
||||||
Asset Quality Data
|
|
|
|
|
|
|
||||||
Nonperforming loans
|
|
$47,950
|
|
|
|
$46,073
|
|
|
|
$21,335
|
|
|
OREO
|
2,828
|
|
|
3,092
|
|
|
2,920
|
|
|
|||
Nonperforming assets
|
50,778
|
|
|
49,165
|
|
|
24,255
|
|
|
|||
Troubled debt restructurings (nonaccruing)
|
7,873
|
|
|
11,088
|
|
|
8,560
|
|
|
|||
Troubled debt restructurings (accruing)
|
23,002
|
|
|
16,786
|
|
|
20,035
|
|
|
|||
Total troubled debt restructurings
|
30,875
|
|
|
27,874
|
|
|
28,595
|
|
|
|||
Nonperforming loans / loans
|
0.81
|
%
|
|
0.77
|
%
|
|
0.37
|
%
|
|
|||
Nonperforming assets / loans plus OREO
|
0.85
|
%
|
|
0.83
|
%
|
|
0.42
|
%
|
|
|||
Allowance for loan losses / total portfolio loans
|
1.03
|
%
|
|
1.03
|
%
|
|
1.03
|
%
|
|
|||
Allowance for loan losses / nonperforming loans
|
128
|
%
|
|
132
|
%
|
|
277
|
%
|
|
|||
Net loan charge-offs (recoveries)
|
|
$5,235
|
|
|
|
$2,277
|
|
|
|
($184
|
)
|
|
Net loan charge-offs (recoveries)(annualized) / average loans
|
0.36
|
%
|
|
0.15
|
%
|
|
(0.01
|
)%
|
|
|
|
|
|
S
&
T Bancorp, Inc.
|
|
S
&
T Earnings Release -
|
8
|
Consolidated Selected Financial Data
|
|
|
|
Unaudited
|
|
|
|
|
2019
|
|
2018
|
|
2018
|
|
|||
|
First
|
|
Fourth
|
|
First
|
|
|||
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
|||
|
|
|
|
|
|
|
|||
(1)
Tangible Book Value (non-GAAP)
|
|
|
|
|
|
|
|||
Total shareholders' equity
|
$943,156
|
|
$935,761
|
|
$895,407
|
|
|||
Less: goodwill and other intangible assets
|
(289,864)
|
|
(290,047)
|
|
(290,572)
|
|
|||
Tax effect of other intangible assets
|
508
|
|
546
|
|
656
|
|
|||
Tangible common equity (non-GAAP)
|
$653,800
|
|
$646,260
|
|
$605,491
|
|
|||
Common shares outstanding
|
34,330
|
|
34,684
|
|
35,001
|
|
|||
Tangible book value (non-GAAP)
|
$19.04
|
|
$18.63
|
|
$17.30
|
|
|||
|
|
|
|
|
|
|
|||
(2)
Return on Average Tangible Shareholders' Equity (non-GAAP)
|
|
|
|
|
|
|
|||
Net income (annualized)
|
$92,987
|
|
$106,540
|
|
$106,105
|
|
|||
Plus: amortization of intangibles (annualized)
|
739
|
|
811
|
|
1,037
|
|
|||
Tax effect of amortization of intangibles (annualized)
|
(155)
|
|
(170)
|
|
(218)
|
|
|||
Net income before amortization of intangibles (annualized)
|
$93,571
|
|
$107,181
|
|
$106,924
|
|
|||
|
|
|
|
|
|
|
|||
Average total shareholders' equity
|
$945,114
|
|
$926,782
|
|
$889,808
|
|
|||
Less: average goodwill and other intangible assets
|
(289,954)
|
|
(290,045)
|
|
(290,754)
|
|
|||
Tax effect of average goodwill and other intangible assets
|
527
|
|
546
|
|
685
|
|
|||
Average tangible equity (non-GAAP)
|
$655,687
|
|
$637,283
|
|
$599,739
|
|
|||
Return on average tangible shareholders' equity (non-GAAP)
|
14.27
|
%
|
|
16.82
|
%
|
|
17.83
|
%
|
|
|
|
|
|
|
|
|
|||
(3)
Efficiency Ratio (non-GAAP)
|
|
|
|
|
|
|
|||
Noninterest expense
|
$38,919
|
|
$36,415
|
|
$36,082
|
|
|||
|
|
|
|
|
|
|
|||
Net interest income per consolidated statements of net income
|
$60,356
|
|
$59,842
|
|
$56,932
|
|
|||
Less: net (gains) losses on sale of securities
|
—
|
|
|
—
|
|
|
—
|
|
|
Plus: taxable equivalent adjustment
|
961
|
|
974
|
|
940
|
|
|||
Net interest income (FTE) (non-GAAP)
|
61,317
|
|
60,816
|
|
57,872
|
|
|||
Noninterest income
|
11,362
|
|
11,095
|
|
13,792
|
|
|||
Net interest income (FTE) (non-GAAP) plus noninterest income
|
$72,679
|
|
$71,911
|
|
$71,664
|
|
|||
Efficiency ratio (non-GAAP)
|
53.55
|
%
|
|
50.64
|
%
|
|
50.35
|
%
|
|
|
|
|
|
|
|
|
|||
(4)
Tangible Common Equity / Tangible Assets (non-GAAP)
|
|
|
|
|
|
|
|||
Total shareholders' equity
|
$943,156
|
|
$935,761
|
|
$895,407
|
|
|||
Less: goodwill and other intangible assets
|
(289,864)
|
|
(290,047)
|
|
(290,572)
|
|
|||
Tax effect of goodwill and other intangible assets
|
508
|
|
546
|
|
656
|
|
|||
Tangible common equity (non-GAAP)
|
$653,800
|
|
$646,260
|
|
$605,491
|
|
|||
|
|
|
|
|
|
|
|||
Total assets
|
$7,229,262
|
|
$7,252,221
|
|
$7,005,329
|
|
|||
Less: goodwill and other intangible assets
|
(289,864
|
)
|
|
(290,047)
|
|
(290,572)
|
|
||
Tax effect of goodwill and other intangible assets
|
508
|
|
546
|
|
656
|
|
|||
Tangible assets (non-GAAP)
|
$6,939,906
|
|
$6,962,720
|
|
$6,715,413
|
|
|||
Tangible common equity to tangible assets (non-GAAP)
|
9.42
|
%
|
|
9.28
|
%
|
|
9.02
|
%
|
|
|
|
|
|
|
|
|
|||
(5)
Net Interest Margin Rate (FTE) (non-GAAP)
|
|
|
|
|
|
|
|||
Interest income
|
$78,590
|
|
$76,589
|
|
$68,029
|
|
|||
Less: interest expense
|
(18,234)
|
|
(16,747)
|
|
(11,097)
|
|
|||
Net interest income per consolidated statements of net income
|
60,356
|
|
59,842
|
|
56,932
|
|
|||
Plus: taxable equivalent adjustment
|
961
|
|
974
|
|
940
|
|
|||
Net interest income (FTE) (non-GAAP)
|
61,317
|
|
60,816
|
|
57,872
|
|
|||
Net interest income (FTE) (annualized)
|
248,675
|
|
241,281
|
|
234,703
|
|
|||
Average earning assets
|
$6,692,255
|
|
$6,622,090
|
|
$6,519,819
|
|
|||
Net interest margin - (FTE) (non-GAAP)
|
3.71
|
%
|
|
3.65
|
%
|
|
3.59
|
%
|
|
CONTACT:
Mark Kochvar
Chief Financial Officer
724.465.4826
800 Philadelphia Street
Indiana, PA 15701
mark.kochvar@stbank.com
www.stbancorp.com
|
|
|