S&T Bancorp, Inc. Announces Fourth Quarter and Full Year 2025 Results

INDIANA, Pa., Jan. 22, 2026 /PRNewswire/ -- S&T Bancorp, Inc. (S&T) (NASDAQ: STBA), the holding company for S&T Bank, announced fourth quarter and full year 2025 earnings. Net income of $34.0 million, or $0.89 per diluted share, for the fourth quarter of 2025 compared to net income of $35.0 million, or $0.91 per diluted share, for the third quarter of 2025 and net income of $33.1 million, or $0.86 per diluted share, for the fourth quarter of 2024.

Net income was $134.2 million for the full year 2025 compared to net income of $131.3 million for 2024. Earnings per diluted share (EPS) was $3.49 for 2025 compared to $3.41 in 2024.

Fourth Quarter of 2025 Highlights:

Full Year 2025 Highlights:

"I'm extremely proud of the strong performance we delivered in the fourth quarter and across 2025. These results reflect disciplined execution of our strategy, continued momentum on our key business drivers and strong core profitability," said Chris McComish, chief executive officer. "As we move into 2026, we remain focused on our people-forward approach and purpose-driven culture to enable sustainable growth, deliver value to our shareholders and serve our customers and communities with the integrity and commitment that defines S&T."

Fourth Quarter of 2025 Results (three months ended December 31, 2025)

Net Interest Income

Net interest income increased $1.8 million, or 1.93%, to $91.0 million in the fourth quarter of 2025 compared to $89.2 million in the third quarter of 2025. NIM (FTE) (non-GAAP) expanded 6 basis points to 3.99% compared to 3.93% in the prior quarter. The yield on average total interest-earning assets decreased 3 basis points to 5.74% compared to 5.77% in the third quarter of 2025. Total interest-bearing liability costs decreased 15 basis points to 2.66% compared to 2.81% in the third quarter of 2025 due to a decrease in interest rates.

Asset Quality

The allowance for credit losses, or ACL, was $93.2 million, or 1.15% of total portfolio loans, at December 31, 2025 compared to $98.2 million, or 1.23%, at September 30, 2025. The decrease in the ACL was mainly due to a reduction in criticized and classified assets of $30.4 million and a decrease in specific reserves of $1.1 million compared to September 30, 2025. Net loan charge-offs were $11.0 million, or 0.54% of average loans, compared to net loan charge-offs of $2.4 million, or 0.12% of average loans, in the third quarter of 2025. The increase in net loan charge-offs was primarily related to the resolution of NPAs during the fourth quarter. The provision for credit losses was $5.7 million for the fourth quarter of 2025 compared to $2.8 million in the third quarter of 2025. The provision for credit losses was higher due to an increase in net loan charge-offs offset by a lower level of ACL. NPAs increased $6.0 million to $55.6 million, or 0.69% of total loans plus OREO, compared to $49.6 million, or 0.62%, at September 30, 2025. Total NPAs remain at a manageable level.

Noninterest Income and Expense

Noninterest income increased $0.5 million to $14.3 million in the fourth quarter of 2025 compared to $13.8 million in the third quarter of 2025. Total noninterest expense increased $0.8 million to $57.2 million compared to $56.4 million in the third quarter of 2025. Salaries and employee benefits increased $0.5 million primarily related to higher salaries and medical costs compared to the third quarter of 2025. Marketing increased $0.3 million due to the timing of various marketing promotions.

Financial Condition

Total assets were $9.9 billion at December 31, 2025, an increase of $53.5 million from $9.8 billion at September 30, 2025. Total portfolio loans increased $91.0 million, or 4.52% annualized, compared to September 30, 2025. The commercial loan portfolio increased $86.2 million due to increases in commercial construction of $59.9 million and commercial and industrial of $53.3 million offset by a decline in commercial real estate of $27.0 million compared to September 30, 2025. The consumer loan portfolio increased $4.8 million primarily as a result of growth in residential mortgage of $9.7 million and home equity of $9.1 million partially offset by decreases in installment and other consumer of $11.3 million compared to September 30, 2025. Total deposits increased $36.9 million, or 1.85% annualized, primarily related to increases in interest-bearing demand of $44.4 million and certificates of deposit, or CDs, of $24.2 million partially offset by a decrease in noninterest-bearing demand of $28.1 million compared to September 30, 2025. The increase in CDs of $24.2 million is net of a decline in brokered CDs of $20.0 million compared to September 30, 2025.

S&T continues to maintain a strong regulatory capital position with all capital ratios above the well-capitalized thresholds of federal bank regulatory agencies. During the fourth quarter of 2025, 948,270 of common shares were repurchased for an average share price of $38.20 per share totaling $36.2 million.

Full Year 2025 Results (twelve months ended December 31, 2025)

Net income was $134.2 million for 2025 compared to net income of $131.3 million for 2024. EPS was $3.49 compared to $3.41 in 2024.

Net interest income increased $15.3 million, or 4.57%, to $350.1 million compared to $334.8 million in 2024. NIM (FTE) (non-GAAP) increased 8 basis points to 3.90% compared to 3.82% for 2024. The relative stability of NIM (FTE) (non-GAAP), despite the declining interest rate environment, reflects the strategic repositioning of the balance sheet to be more interest rate neutral. Average interest-earning assets increased $197.2 million to $9.0 billion in 2025 compared to $8.8 billion in 2024. The yield on average total interest-earning assets decreased 13 basis points to 5.74% compared to 5.87% in 2024. Average total interest-bearing liability costs decreased 30 basis points to 2.79% compared to 3.09% in 2024 due to a decrease in interest rates.

Noninterest income increased $2.9 million to $52.0 million compared to $49.1 million in the prior year. The increase primarily related to lower security losses of $2.3 million in 2025 compared to $7.9 million in 2024 offset by a $3.5 million gain from the exchange offer for Visa Class B-1 common stock in 2024. Noninterest expense increased $7.8 million, or 3.57%, to $226.8 million compared to $218.9 million in 2024. Expenses remained relatively stable with the most significant increase related to salaries and employee benefits of $5.7 million primarily due to higher salary and incentive costs.

The allowance for credit losses, or ACL, was $93.2 million, or 1.15% of total portfolio loans, at December 31, 2025 compared to $101.5 million, or 1.31%, at December 31, 2024. The provision for credit losses was $7.4 million for 2025 compared to $0.1 million for 2024. The increase in provision for credit losses primarily related to higher loan net charge-offs offset by a lower level of ACL. Net loan charge-offs were $14.5 million for 2025 compared to $8.3 million for 2024. Higher net charge-offs in 2025 primarily related to the resolution of NPAs during the fourth quarter. NPAs increased $27.7 million to $55.6 million compared to $27.9 million in the prior year resulting in an NPA to total loans plus OREO ratio of 0.69% compared to 0.36% at December 31, 2024.

New Share Repurchase Plan Authorization

The board of directors authorized a new $100 million share repurchase program at its meeting held January 21, 2026. The new program will replace the existing share repurchase program effective January 26, 2026, and is set to expire February 1, 2027. The remaining capacity under the existing share repurchase program was terminated.

"The board's authorization of the new share repurchase program reflects our focus on disciplined capital management given our robust capital position," said Chris McComish, chief executive officer. "The program provides flexibility to deploy capital in a manner that supports our long-term strategy and commitment to enhancing shareholder value, while maintaining a strong balance sheet."

Conference Call

S&T will host its fourth quarter 2025 earnings conference call live over the Internet at 1:00 p.m. ET, Thursday, January 22, 2026. To access the webcast, go to S&T Bancorp, Inc.'s Investor Relations webpage stbancorp.com. After the live presentation, the webcast will be archived at stbancorp.com for 12 months.

About S&T Bancorp, Inc. and S&T Bank

S&T Bancorp, Inc. is a $9.9 billion bank holding company that is headquartered in Indiana, Pennsylvania and trades on the NASDAQ Global Select Market under the symbol STBA. Its principal subsidiary, S&T Bank, was established in 1902 and operates in Pennsylvania and Ohio. For more information, visit stbancorp.com or stbank.com. Follow us on Facebook, Instagram and LinkedIn.

Forward-Looking Statements

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, results of operations, plans, objectives, outlook for earnings, revenues, expenses, capital and liquidity levels and ratios, asset levels, asset quality, financial position and other matters regarding or affecting S&T and its future business and operations. Forward-looking statements are typically identified by words or phrases such as "will likely result," "expect," "anticipate," "estimate," "forecast," "project," "intend," "believe," "assume," "strategy," "trend," "plan," "outlook," "outcome," "continue," "remain," "potential," "opportunity," "comfortable," "current," "position," "maintain," "sustain," "seek," "achieve," and variations of such words and similar expressions, or future or conditional verbs such as "will," "would," "should," "could" or "may." Although we believe the assumptions upon which these forward-looking statements are based are reasonable, any of these assumptions could prove to be inaccurate and the forward-looking statements based on these assumptions could be incorrect. The matters discussed in these forward-looking statements are subject to various risks, uncertainties and other factors that could cause actual results and trends to differ materially from those made, projected, or implied in or by the forward-looking statements depending on a variety of uncertainties or other factors including, but not limited to: credit losses and the credit risk of our commercial and consumer loan products; changes in the level of charge-offs and changes in estimates of the adequacy of the allowance for credit losses, or ACL; cybersecurity concerns; rapid technological developments and changes; operational risks or risk management failures by us or critical third parties, including fraud risk; our ability to manage our reputational risks; sensitivity to the interest rate environment, a rapid increase in interest rates or a change in the shape of the yield curve; a change in spreads on interest-earning assets and interest-bearing liabilities; regulatory supervision and oversight, including changes in regulatory capital requirements and our ability to address those requirements; unanticipated changes in our liquidity position; unanticipated changes in regulatory and governmental policies impacting interest rates and financial markets; changes in accounting policies, practices or guidance; legislation affecting the financial services industry as a whole, and S&T, in particular; developments affecting the industry and the soundness of financial institutions and further disruption to the economy and U.S. banking system; the outcome of pending and future litigation and governmental proceedings; increasing price and product/service competition; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; managing our internal growth and acquisitions; the possibility that the anticipated benefits from acquisitions cannot be fully realized in a timely manner or at all, or that integrating the acquired operations will be more difficult, disruptive or costly than anticipated; containing costs and expenses; reliance on significant customer relationships; an interruption or cessation of an important service by a third-party provider; our ability to attract and retain talented executives and other employees; general economic or business conditions, including the strength of regional economic conditions in our market area; ESG practices and disclosures, including climate change, hiring practices, the diversity of the work force and racial and social justice issues; deterioration of the housing market and reduced demand for mortgages; deterioration in the overall macroeconomic conditions or the state of the banking industry that could warrant further analysis of the carrying value of goodwill and could result in an adjustment to its carrying value resulting in a non-cash charge to net income; the stability of our core deposit base and access to contingency funding; re-emergence of turbulence in significant portions of the global financial and real estate markets that could impact our performance, both directly, by affecting our revenues and the value of our assets and liabilities, and indirectly, by affecting the economy generally and access to capital in the amounts, at the times and on the terms required to support our future businesses and geopolitical tensions and conflicts between nations.

Many of these factors, as well as other factors, are described in our Annual Report on Form 10-K for the year ended December 31, 2024, including Part I, Item 1A-"Risk Factors" and any of our subsequent filings with the SEC. Forward-looking statements are based on beliefs and assumptions using information available at the time the statements are made. We caution you not to unduly rely on forward-looking statements because the assumptions, beliefs, expectations and projections about future events may, and often do, differ materially from actual results. Any forward-looking statement speaks only as to the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect developments occurring after the statement is made.

Non-GAAP Financial Measures

In addition to traditional measures presented in accordance with GAAP, our management uses, and this information contains or references, certain non-GAAP financial measures, such as tangible book value, return on average tangible shareholder's equity, pre-provision net revenue to average assets, efficiency ratio on an FTE basis, tangible common equity to tangible assets and net interest margin on an FTE basis. We believe these non-GAAP financial measures provide information useful to investors in understanding our underlying operational performance and our business and performance trends as they facilitate comparisons with the performance of other companies in the financial services industry. Although we believe that these non-GAAP financial measures enhance investors' understanding of our business and performance, these non-GAAP financial measures should not be considered alternatives to GAAP or considered to be more important than financial results determined in accordance with GAAP, nor are they necessarily comparable with non-GAAP measures which may be presented by other companies. See Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures for more information related to these financial measures.

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited

2025

2024

Fourth

Third

Fourth

(dollars in thousands, except per share data)

Quarter

INTEREST AND DIVIDEND INCOME

Loans, including fees

$120,356

$120,321

$117,334

Investment Securities:

Taxable

10,426

10,994

10,167

Tax-exempt

164

Dividends

297

274

214

Total Interest and Dividend Income

131,113

131,623

127,879

INTEREST EXPENSE

Deposits

37,296

39,864

40,627

Borrowings, junior subordinated debt securities and other

2,857

2,518

3,994

Total Interest Expense

40,153

42,382

44,621

NET INTEREST INCOME

90,960

89,241

83,258

Provision for credit losses

5,696

2,792

(2,462)

Net Interest Income After Provision for Credit Losses

85,264

86,449

85,720

NONINTEREST INCOME

Loss on sale of securities

—

(2,592)

Debit and credit card

4,805

4,722

4,627

Service charges on deposit accounts

4,206

4,175

Wealth management

3,203

3,118

3,151

Other

2,117

1,748

1,710

Total Noninterest Income

14,331

13,763

11,071

NONINTEREST EXPENSE

Salaries and employee benefits

32,707

32,180

30,816

Data processing and information technology

5,079

4,901

5,338

Occupancy

3,855

4,014

3,755

Furniture, equipment and software

3,453

3,225

3,295

Other taxes

1,931

2,088

2,274

Marketing

1,546

1,255

1,622

Professional services and legal

1,228

1,199

1,116

FDIC insurance

1,062

1,071

1,045

Other noninterest expense

6,315

6,443

6,184

Total Noninterest Expense

57,176

56,376

55,445

Income Before Taxes

42,419

43,836

41,346

Income tax expense

8,452

8,874

8,281

Net Income

$33,967

$34,962

$33,065

Per Share Data

Shares outstanding at end of period

37,402,705

38,350,500

38,259,449

Average shares outstanding - diluted

38,136,813

38,595,118

38,570,784

Diluted earnings per share

$0.89

$0.91

$0.86

Dividends declared per share

$0.36

$0.34

Dividend yield (annualized)

3.66 %

3.62 %

3.56 %

Dividends paid to net income

40.14 %

37.35 %

39.36 %

Book value

$39.14

$38.47

$36.08

Tangible book value (non-GAAP) (1)

$29.11

$28.69

$26.25

Market value

$39.35

$37.59

$38.22

Profitability Ratios (Annualized)

Return on average assets

1.37 %

1.42 %

1.37 %

Return on average shareholders' equity

9.13 %

9.48 %

9.57 %

Return on average tangible shareholders' equity (non-GAAP) (2)

12.30 %

12.81 %

13.25 %

Pre-provision net revenue / average assets (non-GAAP) (3)

1.95 %

1.89 %

1.72 %

Efficiency ratio (FTE) (non-GAAP) (4)

53.99 %

54.41 %

56.93 %

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited

Twelve Months Ended December 31,

(dollars in thousands, except per share data)

2025

2024

INTEREST AND DIVIDEND INCOME

Loans, including fees

$472,713

$476,382

Investment Securities:

Taxable

42,339

37,744

Tax-exempt

260

690

Dividends

1,178

1,056

Total Interest and Dividend Income

516,490

515,872

INTEREST EXPENSE

Deposits

154,570

159,411

Borrowings, junior subordinated debt securities and other

11,824

21,655

Total Interest Expense

166,394

181,066

NET INTEREST INCOME

350,096

334,806

Provision for credit losses

7,422

133

Net Interest Income After Provision for Credit Losses

342,674

334,673

NONINTEREST INCOME

Loss on sale of securities

(2,295)

(7,938)

Debit and credit card

18,303

18,263

Service charges on deposit accounts

16,433

16,273

Wealth management

12,447

12,259

Other

7,135

10,226

Total Noninterest Income

52,023

49,083

NONINTEREST EXPENSE

Salaries and employee benefits

127,647

121,990

Data processing and information technology

19,757

19,510

Occupancy

16,195

15,102

Furniture, equipment and software

13,513

13,559

Other Taxes

7,601

7,452

Marketing

5,906

6,351

Professional services and legal

5,452

5,468

FDIC insurance

4,235

4,201

Other noninterest expense

26,451

25,305

Total Noninterest Expense

226,757

218,938

Income Before Taxes

167,940

164,818

Income tax expense

33,710

33,553

Net Income

$134,230

$131,265

Per Share Data

Average shares outstanding - diluted

38,491,504

38,523,688

Diluted earnings per share

$3.49

$3.41

Dividends declared per share

$1.38

$1.33

Dividends paid to net income

39.40 %

38.83 %

Profitability Ratios (annualized)

Return on average assets

1.38 %

1.37 %

Return on average shareholders' equity

9.29 %

9.86 %

Return on average tangible shareholders' equity (non-GAAP) (5)

12.62 %

13.84 %

Pre-provision net revenue / average assets (non-GAAP) (6)

1.82 %

1.77 %

Efficiency ratio (FTE) (non-GAAP) (7)

55.74 %

55.99 %

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited

2025

2024

Fourth

Third

Fourth

(dollars in thousands)

Quarter

ASSETS

Cash and due from banks

$163,436

$196,228

$244,820

Securities available for sale, at fair value

987,659

1,001,149

987,591

Loans held for sale

1,010

—

Commercial loans:

Commercial real estate

3,626,784

3,653,790

3,388,017

Commercial and industrial

1,519,336

1,466,075

1,540,397

Commercial construction

380,091

320,190

352,886

Total Commercial Loans

5,526,211

5,440,055

5,281,300

Consumer loans:

Residential mortgage

1,710,351

1,700,636

1,649,639

Home equity

707,966

698,886

653,756

Installment and other consumer

91,280

102,600

104,757

Consumer construction

36,149

38,830

53,506

Total Consumer Loans

2,545,746

2,540,952

2,461,658

Total Portfolio Loans

8,071,957

7,981,007

7,742,958

Allowance for credit losses

(93,178)

(98,155)

(101,494)

Total Portfolio Loans, Net

7,978,779

7,882,852

7,641,464

Federal Home Loan Bank and other restricted stock, at cost

16,030

15,042

15,231

Goodwill

373,424

Other Intangible assets, net

2,251

2,450

3,055

Other assets

348,391

346,338

392,387

Total Assets

$9,870,980

$9,817,483

$9,657,972

LIABILITIES

Deposits:

Noninterest-bearing demand

$2,160,645

$2,188,699

$2,185,242

Interest-bearing demand

790,278

745,904

812,768

Money market

2,196,998

2,194,702

2,040,285

Savings

862,118

868,019

877,859

Certificates of deposit

1,948,792

1,924,619

1,866,963

Total Deposits

7,958,831

7,921,943

7,783,117

Borrowings:

Short-term borrowings

165,000

135,000

150,000

Long-term borrowings

50,815

50,836

50,896

Junior subordinated debt securities

49,478

49,463

49,418

Total Borrowings

265,293

235,299

250,314

Other liabilities

182,979

184,775

244,247

Total Liabilities

8,407,103

8,342,017

8,277,678

SHAREHOLDERS' EQUITY

Total Shareholders' Equity

1,463,877

1,475,466

1,380,294

Total Liabilities and Shareholders' Equity

$9,870,980

$9,817,483

$9,657,972

Capitalization Ratios

Shareholders' equity / assets

14.83 %

15.03 %

14.29 %

Tangible common equity / tangible assets (non-GAAP) (9)

11.46 %

11.65 %

10.82 %

Tier 1 leverage ratio

12.18 %

12.33 %

11.98 %

Common equity tier 1 capital

14.32 %

14.75 %

14.58 %

Risk-based capital - tier 1

14.62 %

15.06 %

14.90 %

Risk-based capital - total

16.19 %

16.63 %

16.49 %

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited

2025

2024

Fourth

Third

Fourth

(dollars in thousands)

Quarter

Net Interest Margin (FTE) (non-GAAP) (QTD Averages)

ASSETS

Interest-bearing deposits with banks

$112,524

3.98 %

$128,236

4.43 %

$172,179

4.85 %

Securities, at fair value

985,200

3.80 %

1,011,624

3.80 %

992,653

3.34 %

Loans held for sale

890

6.44 %

6.88 %

117

6.61 %

Commercial real estate

3,625,455

5.87 %

3,564,071

5.86 %

3,328,052

5.83 %

Commercial and industrial

1,491,942

6.54 %

1,485,816

6.78 %

1,538,983

6.92 %

Commercial construction

348,987

7.34 %

379,167

6.97 %

368,566

7.99 %

Total Commercial Loans

5,466,384

6.15 %

5,429,054

6.19 %

5,235,601

6.30 %

Residential mortgage

1,701,279

5.33 %

1,688,697

5.33 %

1,635,313

5.14 %

Home equity

700,194

6.22 %

687,639

6.35 %

649,152

6.66 %

Installment and other consumer

92,748

7.73 %

100,551

7.85 %

105,478

8.18 %

Consumer construction

40,868

6.75 %

40,612

6.73 %

56,165

6.70 %

Total Consumer Loans

2,535,089

5.69 %

2,517,499

5.73 %

2,446,108

5.71 %

Total Portfolio Loans

8,001,473

6.00 %

7,946,553

6.04 %

7,681,709

6.11 %

Total Loans

8,002,363

6.00 %

7,946,571

6.04 %

7,681,826

6.11 %

Total other earning assets

15,366

7.40 %

13,808

7.63 %

13,680

6.59 %

Total Interest-earning Assets

9,115,453

5.74 %

9,100,239

5.77 %

8,860,338

5.78 %

Noninterest-earning assets

694,161

699,840

711,374

Total Assets

$9,809,614

$9,800,079

$9,571,712

LIABILITIES AND SHAREHOLDERS' EQUITY

Interest-bearing demand

$770,233

0.94 %

$742,817

0.99 %

$780,396

1.03 %

Money market

2,202,015

2.75 %

2,247,331

3.06 %

2,060,103

3.17 %

Savings

859,344

0.68 %

873,968

0.72 %

874,699

0.70 %

Certificates of deposit

1,925,474

3.86 %

1,915,006

3.96 %

1,818,755

4.52 %

Total Interest-bearing Deposits

5,757,066

2.57 %

5,779,122

2.74 %

5,533,953

2.92 %

Short-term borrowings

119,293

4.32 %

73,538

4.53 %

159,011

4.84 %

Long-term borrowings

50,826

3.80 %

50,846

3.80 %

66,364

3.76 %

Junior subordinated debt securities

49,469

6.79 %

49,454

7.08 %

49,408

7.69 %

Total Borrowings

219,588

4.75 %

173,838

5.04 %

274,783

5.09 %

Total Other Interest-bearing Liabilities

22,736

3.95 %

28,049

4.36 %

40,055

4.71 %

Total Interest-bearing Liabilities

5,999,390

2.66 %

5,981,009

2.81 %

5,848,791

3.03 %

Noninterest-bearing liabilities

2,334,350

2,355,972

2,348,014

Shareholders' equity

1,475,874

1,463,098

1,374,907

Total Liabilities and Shareholders' Equity

$9,809,614

$9,800,079

$9,571,712

Net Interest Margin (FTE) (non-GAAP) (10)

3.99 %

3.93 %

3.77 %

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited

Twelve Months Ended December 31,

(dollars in thousands)

2025

2024

Net Interest Margin (FTE) (non-GAAP) (YTD Averages)

ASSETS

Interest-bearing deposits with banks

$122,385

4.34 %

$165,275

5.36 %

Securities, at fair value

999,735

3.74 %

977,896

3.05 %

Loans held for sale

230

6.39 %

6.95 %

Commercial real estate

3,516,374

5.86 %

3,334,518

5.92 %

Commercial and industrial

1,507,852

6.68 %

1,584,309

7.26 %

Commercial construction

371,300

7.04 %

378,755

7.84 %

Total Commercial Loans

5,395,526

6.17 %

5,297,582

6.46 %

Residential mortgage

1,681,229

5.28 %

1,558,277

5.05 %

Home equity

677,909

6.31 %

646,085

6.92 %

Installment and other consumer

98,051

7.86 %

106,260

8.52 %

Consumer construction

41,900

6.79 %

65,402

6.14 %

Total Consumer Loans

2,499,089

5.69 %

2,376,024

5.74 %

Total Portfolio Loans

7,894,615

6.02 %

7,673,606

6.24 %

Total Loans

7,894,845

6.02 %

7,673,691

6.24 %

Total other earning assets

15,611

7.35 %

18,606

6.82 %

Total Interest-earning Assets

9,032,576

5.74 %

8,835,468

5.87 %

Noninterest-earning assets

707,961

737,366

Total Assets

$9,740,537

$9,572,834

LIABILITIES AND SHAREHOLDERS' EQUITY

Interest-bearing demand

$763,929

0.98 %

$804,387

1.10 %

Money market

2,182,107

2.95 %

1,993,053

3.24 %

Savings

874,528

0.69 %

905,351

0.69 %

Certificates of deposit

1,893,648

4.04 %

1,764,661

4.51 %

Total Interest-bearing deposits

5,714,212

2.70 %

5,467,452

2.92 %

Short-term borrowings

111,453

4.53 %

257,524

5.12 %

Long-term borrowings

50,856

3.80 %

46,306

4.24 %

Junior subordinated debt securities

49,446

7.04 %

49,386

8.05 %

Total Borrowings

211,755

4.94 %

353,216

5.41 %

Total Other Interest-bearing Liabilities

31,660

4.31 %

47,727

5.26 %

Total Interest-bearing Liabilities

5,957,627

2.79 %

5,868,395

3.09 %

Noninterest-bearing liabilities

2,338,588

2,373,569

Shareholders' equity

1,444,322

1,330,870

Total Liabilities and Shareholders' Equity

$9,740,537

$9,572,834

Net Interest Margin (FTE) (non-GAAP) (8)

3.90 %

3.82 %

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited

2025

2024

Fourth

Third

Fourth

(dollars in thousands)

Quarter

Nonaccrual Loans

Commercial loans:

% Loans

Commercial real estate

$17,373

0.48 %

$27,964

0.77 %

$4,173

0.12 %

Commercial and industrial

25,575

1.68 %

9,826

0.67 %

12,570

0.82 %

Commercial construction

869

0.23 %

869

0.27 %

—

— %

Total Nonaccrual Commercial Loans

43,817

0.79 %

38,659

0.71 %

16,743

0.32 %

Consumer loans:

Residential mortgage

8,098

0.47 %

7,005

0.41 %

7,628

0.46 %

Home equity

3,485

0.49 %

3,790

0.54 %

3,336

0.51 %

Installment and other consumer

158

0.17 %

164

0.16 %

230

0.22 %

Total Nonaccrual Consumer Loans

11,741

0.46 %

10,959

0.43 %

11,194

0.45 %

Total Nonaccrual Loans

$55,558

0.69 %

$49,618

0.62 %

$27,937

0.36 %

2025

2024

Fourth

Third

Fourth

(dollars in thousands)

Quarter

Loan Charge-offs (Recoveries)

Charge-offs

$12,482

$3,053

$1,964

Recoveries

(1,529)

(639)

(2,022)

Net Loan Charge-offs (Recoveries)

$10,953

$2,414

($58)

Net Loan Charge-offs (Recoveries)

Commercial loans:

Commercial real estate

$7,510

$106

($1,359)

Commercial and industrial

3,133

2,142

1,139

Commercial construction

—

(9)

—

Total Commercial Loan Charge-offs (Recoveries)

10,643

2,239

(220)

Consumer loans:

Residential mortgage

Home equity

(101)

114

Installment and other consumer

365

134

Total Consumer Loan Charge-offs

310

175

162

Total Net Loan Charge-offs (Recoveries)

$10,953

$2,414

($58)

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited

Twelve Months Ended December 31,

(dollars in thousands)

2025

2024

Loan Charge-offs (Recoveries)

Charge-offs

$18,075

$12,187

Recoveries

(3,577)

(3,907)

Net Loan Charge-offs

$14,498

$8,280

Net Loan Charge-offs

Commercial loans:

Commercial real estate

$7,454

$3,547

Commercial and industrial

5,760

2,686

Commercial construction

110

—

Total Commercial Loan Charge-offs

13,324

6,233

Consumer loans:

Residential mortgage

104

Home equity

1,073

Installment and other consumer

983

929

Total Consumer Loan Charge-offs

1,174

2,047

Total Net Loan Charge-offs

$14,498

$8,280

2025

2024

Fourth

Third

Fourth

(dollars in thousands)

Quarter

Asset Quality Data

Nonaccrual loans

$55,558

$49,618

$27,937

OREO

Total nonperforming assets

55,615

49,626

27,945

Nonaccrual loans / total loans

0.69 %

0.62 %

0.36 %

Nonperforming assets / total loans plus OREO

0.69 %

0.62 %

0.36 %

Allowance for credit losses / total portfolio loans

1.15 %

1.23 %

1.31 %

Allowance for credit losses / nonaccrual loans

168 %

198 %

363 %

Net loan charge-offs

$10,953

$2,414

($58)

Net loan charge-offs (annualized) / average loans

0.54 %

0.12 %

0.00 %

Twelve Months Ended December 31,

(dollars in thousands)

2025

2024

Asset Quality Data

Net loan charge-offs

$14,498

$8,280

Net loan charge-offs / average loans

0.18 %

0.11 %

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited

Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures:

2025

2024

Fourth

Third

Fourth

(dollars in thousands, except per share data)

Quarter

(1) Tangible Book Value (non-GAAP)

Total shareholders' equity

$1,463,877

$1,475,466

$1,380,294

Less: goodwill and other intangible assets, net of deferred tax liability

(375,202)

(375,359)

(375,837)

Tangible common equity (non-GAAP)

$1,088,675

$1,100,107

$1,004,457

Common shares outstanding

37,402,705

38,350,500

38,259,449

Tangible book value (non-GAAP)

$29.11

$28.69

$26.25

Tangible book value is a preferred industry metric used to measure our company's value and commonly used by investors and analysts.

(2) Return on Average Tangible Shareholders' Equity (non-GAAP)

Net income (annualized)

$134,760

$138,708

$131,541

Plus: amortization of intangibles (annualized), net of tax

624

649

858

Net income before amortization of intangibles (annualized)

$135,384

$139,357

$132,399

Average total shareholders' equity

$1,475,874

$1,463,098

$1,374,907

Less: average goodwill and other intangible assets, net of deferred tax liability

(375,279)

(375,446)

(375,879)

Average tangible equity (non-GAAP)

$1,100,595

$1,087,652

$999,028

Return on average tangible shareholders' equity (non-GAAP)

12.30 %

12.81 %

13.25 %

Return on average tangible shareholders' equity is a preferred industry profitability metric used by management, as well as investors and analysts, to measure financial performance.

(3) Pre-provision Net Revenue / Average Assets (non-GAAP)

Income before taxes

$42,419

$43,836

$41,346

Plus: net loss on sale of securities

—

2,592

Less: gain on Visa Class B-1 exchange

—

(186)

Plus: Provision for credit losses

5,696

2,792

(2,462)

Total

$48,115

$46,628

$41,290

Total (annualized) (non-GAAP)

$190,891

$184,992

$164,262

Average assets

$9,809,614

$9,800,079

$9,571,712

Pre-provision Net Revenue / Average Assets (non-GAAP)

1.95 %

1.89 %

1.72 %

Pre-provision net revenue to average assets is income before taxes adjusted to exclude provision for credit losses, losses (gains) on sale of securities and gain on Visa exchange. We believe this to be a preferred industry measurement to help management, as well as investors and analysts, evaluate our ability to fund credit losses or build capital.

(4) Efficiency Ratio (FTE) (non-GAAP)

Noninterest expense

$57,176

$56,376

$55,445

Net interest income per consolidated statements of net income

$90,960

$89,241

$83,258

Plus: taxable equivalent adjustment

605

602

660

Net interest income (FTE) (non-GAAP)

91,565

89,843

83,918

Noninterest income

14,331

13,763

11,071

Plus: net loss on sale of securities

—

2,592

Less: gain on Visa Class B-1 exchange

—

(186)

Net interest income (FTE) (non-GAAP) plus noninterest income

$105,896

$103,606

$97,395

Efficiency ratio (FTE) (non-GAAP)

53.99 %

54.41 %

56.93 %

The efficiency ratio is noninterest expense divided by noninterest income plus net interest income, on an FTE basis (non-GAAP), adjusted to exclude losses (gains) on sale of securities and gain on Visa exchange. We believe the FTE basis ensures comparability of net interest income arising from both taxable and tax-exempt sources and is consistent with industry practice.

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited

Twelve Months Ended December 31,

(dollars in thousands)

2025

2024

(5) Return on Average Tangible Shareholders' Equity (non-GAAP)

Net income

$134,230

$131,265

Plus: amortization of intangibles, net of tax

674

904

Net income before amortization of intangibles

$134,904

$132,169

Average total shareholders' equity

$1,444,322

$1,330,870

Less: average goodwill and other intangible assets, net of deferred tax liability

(375,508)

(376,181)

Average tangible equity (non-GAAP)

$1,068,814

$954,689

Return on average tangible shareholders' equity (non-GAAP)

12.62 %

13.84 %

Return on average tangible shareholders' equity is a preferred industry profitability metric used by management, as well as investors and analysts, to measure financial performance.

(6) Pre-provision Net Revenue / Average Assets (non-GAAP)

Income before taxes

$167,940

$164,818

Plus: net losses on sale of securities

2,295

7,938

Less: gain on Visa Class B-1 exchange

—

(3,492)

Plus: Provision for credit losses

7,422

133

Total (non-GAAP)

$177,657

$169,397

Average assets

$9,740,537

$9,572,834

Pre-provision Net Revenue / Average Assets (non-GAAP)

1.82 %

1.77 %

Pre-provision net revenue to average assets is income before taxes adjusted to exclude provision for credit losses, losses (gains) on sale of securities and gain on Visa exchange. We believe this to be a preferred industry measurement, to help management, as well as investors and analysts, evaluate our ability to fund credit losses or build capital.

(7) Efficiency Ratio (FTE) (non-GAAP)

Noninterest expense

$226,757

$218,938

Net interest income per consolidated statements of net income

$350,096

$334,806

Plus: taxable equivalent adjustment

2,415

2,706

Net interest income (FTE) (non-GAAP)

352,511

337,512

Noninterest income

52,023

49,083

Plus: net losses on sale of securities

2,295

7,938

Less: gain on Visa Class B-1 exchange

—

(3,492)

Net interest income (FTE) (non-GAAP) plus noninterest income

$406,829

$391,041

Efficiency ratio (FTE) (non-GAAP)

55.74 %

55.99 %

(8) Net Interest Margin (FTE) (non-GAAP)

Interest income and dividend income

$516,490

$515,872

Less: interest expense

(166,394)

(181,066)

Net interest income per consolidated statements of net income

350,096

334,806

Plus: taxable equivalent adjustment

2,415

2,706

Net interest income (FTE) (non-GAAP)

$352,511

$337,512

Average interest-earning assets

$9,032,576

$8,835,468

Net interest margin - (FTE) (non-GAAP)

3.90 %

3.82 %

The interest income on interest-earning assets, net interest income and net interest margin are presented on an FTE basis (non-GAAP). The FTE basis (non-GAAP) adjusts for the tax benefit of income on certain tax-exempt loans and securities and the dividend-received deduction for equity securities using the federal statutory tax rate of 21 percent for each period. We believe this to be the preferred industry measurement of net interest income that provides a relevant comparison between taxable and non-taxable sources of interest income.

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited

Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures:

2025

2024

Fourth

Third

Fourth

(dollars in thousands)

Quarter

(9) Tangible Common Equity / Tangible Assets (non-GAAP)

Total shareholders' equity

$1,463,877

$1,475,466

$1,380,294

Less: goodwill and other intangible assets, net of deferred tax liability

(375,202)

(375,359)

(375,837)

Tangible common equity (non-GAAP)

$1,088,675

$1,100,107

$1,004,457

Total assets

$9,870,980

$9,817,483

$9,657,972

Less: goodwill and other intangible assets, net of deferred tax liability

(375,202)

(375,359)

(375,837)

Tangible assets (non-GAAP)

$9,495,778

$9,442,124

$9,282,135

Tangible common equity to tangible assets (non-GAAP)

11.46 %

11.65 %

10.82 %

Tangible common equity to tangible assets is a preferred industry measurement to evaluate capital adequacy.

(10) Net Interest Margin (FTE) (non-GAAP)

Interest income and dividend income

$131,113

$131,623

$127,879

Less: interest expense

(40,153)

(42,382)

(44,621)

Net interest income per consolidated statements of net income

90,960

89,241

83,258

Plus: taxable equivalent adjustment

605

602

660

Net interest income (FTE) (non-GAAP)

$91,565

$89,843

$83,918

Net interest income (FTE) (annualized)

$363,274

$356,442

$333,848

Average interest-earning assets

$9,115,453

$9,100,239

$8,860,338

Net interest margin (FTE) (non-GAAP)

3.99 %

3.93 %

3.77 %

SOURCE S&T Bancorp, Inc.