S&T Bancorp, Inc. Announces Third Quarter 2025 Results

Rhea-AI Summary

S&T Bancorp (NASDAQ: STBA) reported third quarter 2025 net income of $35.0 million, or $0.91 per diluted share, up from $32.6 million, or $0.85, in Q3 2024.

Key metrics: ROA 1.42%, ROE 9.48%, ROTE (non-GAAP) 12.81%. Net interest income rose $2.6 million (3.0%) and NIM (FTE) expanded 5 basis points to 3.93%. Total portfolio loans increased $46.6 million (2.33% annualized). ACL was $98.2 million (1.23% of loans); NPAs rose to $49.6 million (0.62%). The company said capital ratios remain above well-capitalized thresholds. A webcast of the earnings call was scheduled for Oct 23, 2025 at 1:00 PM ET.

Positive

• Net income of $35.0 million in Q3 2025
• EPS of $0.91 per diluted share
• NII increased $2.6 million (3.0%) quarter-over-quarter
• NIM (FTE) expanded 5 basis points to 3.93%
• Total portfolio loans grew $46.6 million (2.33% annualized)
• ROTE (non-GAAP) improved to 12.81%

Negative

• Net charge-offs increased to $2.4 million (0.12% of average loans)
• Nonperforming assets rose $28.3 million to $49.6 million (0.62%)
• Provision for credit losses increased to $2.8 million

Insights

Banking financial analyst

Quarter shows modest profitability and margin gains but rising NPAs and stable capital make the overall signal mixed.

S&T reported net income of $35.0 million (diluted EPS $0.91) in the third quarter, up from $31.9 million in the prior quarter, driven by a $2.6 million increase in net interest income and a 5 basis point expansion in NIM (FTE) to 3.93%. Core revenue metrics improved: ROA rose to 1.42%, ROE to 9.48%, and PPNR to average assets increased to 1.89%, while noninterest expense declined by $1.7 million.

Credit metrics show both resilience and caution: the ACL held near 1.23% of loans at September 30, 2025, but net charge-offs rose to $2.4 million (0.12% of average loans) and nonperforming assets increased to $49.6 million (0.62% of loans plus OREO) from $21.3 million previously. Balance sheet growth was modest: total portfolio loans increased $46.6 million and total deposits were essentially flat at quarter end, while regulatory capital ratios remained above well-capitalized thresholds.

Watch the trajectory of NPAs and charge-offs over the next few quarters to see if asset-quality deterioration continues or stabilizes; also monitor NIM and loan growth for sustained revenue momentum within a 3–12 month horizon. The net effect is mixed: clearer revenue and margin improvement offset by higher credit stress, so the near-term impact remains neutral absent further directional data.

INDIANA, Pa., Oct. 23, 2025 /PRNewswire/ -- S&T Bancorp, Inc. (S&T) (NASDAQ: STBA), the holding company for S&T Bank, announced net income of $35.0 million, or $0.91 per diluted share, for the third quarter of 2025 compared to net income of $31.9 million, or $0.83 per diluted share, for the second quarter of 2025 and net income of $32.6 million, or $0.85 per diluted share, for the third quarter of 2024.

Third Quarter of 2025 Highlights:

• Strong return metrics with return on average assets (ROA) of 1.42%, return on average equity (ROE) of 9.48% and return on average tangible equity (ROTE) (non-GAAP) of 12.81% compared to ROA of 1.32%, ROE of 8.91% and ROTE (non-GAAP) of 12.12% for the second quarter of 2025.
• Pre-provision net revenue to average assets (PPNR) (non-GAAP) increased 16 basis points to 1.89% compared to 1.73% for the second quarter of 2025.
• Net interest income growth of $2.6 million, or 3.00%, and net interest margin on a fully taxable equivalent basis (NIM) (FTE) (non-GAAP) expansion of 5 basis points to 3.93% compared to 3.88% in the second quarter of 2025.
• Total portfolio loans increased $46.6 million, or 2.33% annualized, compared to June 30, 2025.
• Net charge-offs were $2.4 million, or 0.12% of average loans, compared to net charge-offs of $1.2 million, or 0.06% of average loans, in the second quarter of 2025.

"We delivered another solid quarter with strong return metrics thanks to the efforts of our team and their commitment to our people-forward banking purpose," said Chris McComish, chief executive officer. "Our results reflect improving revenue gains supported by net interest margin expansion. We continue to build robust capital levels which provide us financial flexibility for future growth."

Net Interest Income

Net interest income increased $2.6 million, or 3.00%, to $89.2 million in the third quarter of 2025 compared to $86.6 million in the second quarter of 2025. Average interest-earning assets increased $88.2 million to $9.1 billion in the third quarter of 2025 compared to $9.0 billion in the second quarter of 2025. NIM (FTE) (non-GAAP) expanded 5 basis points to 3.93% compared to 3.88% in the prior quarter. The yield on average total interest-earning assets increased 1 basis point to 5.77% compared to 5.76% in the second quarter of 2025. Total interest-bearing liability costs decreased 3 basis points to 2.81% compared to 2.84% in the second quarter of 2025 mainly due to the repricing of certificates of deposits.

Asset Quality

The allowance for credit losses, or ACL, was $98.2 million, or 1.23% of total portfolio loans, at September 30, 2025 compared to $98.6 million, or 1.24%, at June 30, 2025. The provision for credit losses was $2.8 million for the third quarter of 2025 compared to $2.0 million in the second quarter of 2025. Net charge-offs were $2.4 million, or 0.12% of average loans, compared to net charge-offs of $1.2 million, or 0.06% of average loans in the second quarter of 2025. Nonperforming assets (NPAs) increased $28.3 million to $49.6 million, or 0.62% of total loans plus OREO, compared to $21.3 million, or 0.27%, at June 30, 2025. Total NPAs remain at a manageable level.

Noninterest Income and Expense

Noninterest income was relatively unchanged at $13.8 million in the third quarter of 2025 compared to $13.5 million in the second quarter of 2025. Total noninterest expense decreased $1.7 million to $56.4 million compared to $58.1 million in the second quarter of 2025. Salaries and employee benefits decreased $0.7 million primarily related to lower incentive and medical costs compared to the second quarter of 2025. Professional services and legal decreased $0.5 million due to lower consulting fees compared to the second quarter of 2025.

Financial Condition

Total assets were $9.8 billion at both September 30, 2025 and June 30, 2025. Total portfolio loans increased $46.6 million, or 2.33% annualized, compared to June 30, 2025. The commercial loan portfolio increased $9.9 million with growth in commercial real estate of $133.5 million offset by decreases in commercial construction of $77.6 million and a decrease in commercial and industrial of $46.0 million compared to June 30, 2025. The consumer loan portfolio increased $36.6 million compared to June 30, 2025 primarily as a result of growth in residential mortgage of $21.6 million and in home equity of $17.7 million. Total deposits increased $1.0 million, or 0.05% annualized, compared to June 30, 2025. Noninterest-bearing demand increased $6.4 million, interest-bearing demand $7.7 million and CDs $39.8 million, offset by decreases in money market of $41.6 million and savings of $11.2 million compared to June 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.

Conference Call

S&T will host its third quarter 2025 earnings conference call live via webcast at 1:00 p.m. ET, Thursday, October 23, 2025. 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 $9.8 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, PPNR 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		2025		2024
	Third		Second		Third
(dollars in thousands, except per share data)	Quarter		Quarter		Quarter
INTEREST AND DIVIDEND INCOME
Loans, including fees	$120,321		$117,696		$120,907
Investment Securities:
Taxable	10,994		10,846		10,221
Tax-exempt	34		35		165
Dividends	274		329		181
Total Interest and Dividend Income	131,623		128,906		131,474
INTEREST EXPENSE
Deposits	39,864		39,056		42,493
Borrowings, junior subordinated debt securities and other	2,518		3,278		4,504
Total Interest Expense	42,382		42,334		46,997
NET INTEREST INCOME	89,241		86,572		84,477
Provision for credit losses	2,792		1,974		(454)
Net Interest Income After Provision for Credit Losses	86,449		84,598		84,931
NONINTEREST INCOME
Loss on sale of securities	—		—		(2,199)
Debit and credit card	4,722		4,588		4,688
Service charges on deposit accounts	4,175		4,090		4,181
Wealth management	3,118		3,042		3,071
Other	1,748		1,780		2,136
Total Noninterest Income	13,763		13,500		11,877
NONINTEREST EXPENSE
Salaries and employee benefits	32,180		32,907		31,274
Data processing and information technology	4,901		4,847		5,003
Occupancy	4,014		4,024		3,828
Furniture, equipment and software	3,225		3,352		3,410
Other taxes	2,088		2,088		1,874
Marketing	1,255		1,490		1,382
Professional services and legal	1,199		1,739		1,229
FDIC insurance	1,071		1,062		1,054
Other noninterest expense	6,443		6,605		6,311
Total Noninterest Expense	56,376		58,114		55,365
Income Before Taxes	43,836		39,984		41,443
Income tax expense	8,874		8,084		8,853
Net Income	$34,962		$31,900		$32,590
Per Share Data
Shares outstanding at end of period	38,350,500		38,345,448		38,259,730
Average shares outstanding - diluted	38,595,118		38,637,400		38,560,409
Diluted earnings per share	$0.91		$0.83		$0.85
Dividends declared per share	$0.34		$0.34		$0.33
Dividend yield (annualized)	3.62 %		3.60 %		3.15 %
Dividends paid to net income	37.35 %		41.30 %		38.77 %
Book value	$38.47		$37.70		$35.96
Tangible book value (non-GAAP) (1)	$28.69		$27.90		$26.13
Market value	$37.59		$37.82		$41.97
Profitability Ratios (Annualized)
Return on average assets	1.42 %		1.32 %		1.35 %
Return on average shareholders' equity	9.48 %		8.91 %		9.58 %
Return on average tangible shareholders' equity (non-GAAP)(2)	12.81 %		12.12 %		13.35 %
Pre-provision net revenue / average assets (non-GAAP)(3)	1.89 %		1.73 %		1.78 %
Efficiency ratio (FTE) (non-GAAP)(4)	54.41 %		57.73 %		55.88 %

 

S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited
			Nine Months Ended September 30,
(dollars in thousands, except per share data)			2025		2024
INTEREST AND DIVIDEND INCOME
Loans, including fees			$352,357		$359,048
Investment Securities:
Taxable			31,913		27,577
Tax-exempt			226		526
Dividends			881		842
Total Interest and Dividend Income			385,377		387,993
INTEREST EXPENSE
Deposits			117,274		118,784
Borrowings, junior subordinated debt securities and other			8,967		17,661
Total Interest Expense			126,241		136,445
NET INTEREST INCOME			259,136		251,548
Provision for credit losses			1,726		2,595
Net Interest Income After Provision for Credit Losses			257,410		248,953
NONINTEREST INCOME
Loss on sale of securities			(2,295)		(5,346)
Debit and credit card			13,498		13,636
Service charges on deposit accounts			12,227		12,098
Wealth management			9,244		9,108
Other			5,018		8,516
Total Noninterest Income			37,692		38,012
NONINTEREST EXPENSE
Salaries and employee benefits			94,940		91,174
Data processing and information technology			14,678		14,172
Occupancy			12,340		11,347
Furniture, equipment and software			10,060		10,264
Other Taxes			5,670		5,178
Marketing			4,360		4,729
Professional services and legal			4,224		4,352
FDIC insurance			3,173		3,156
Other noninterest expense			20,136		19,121
Total Noninterest Expense			169,581		163,493
Income Before Taxes			125,521		123,472
Income tax expense			25,258		25,272
Net Income			$100,263		$98,200
Per Share Data
Average shares outstanding - diluted			38,611,041		38,566,858
Diluted earnings per share			$2.60		$2.55
Dividends declared per share			$1.02		$0.99
Dividends paid to net income			39.15 %		38.66 %
Profitability Ratios (annualized)
Return on average assets			1.38 %		1.37 %
Return on average shareholders' equity			9.35 %		9.97 %
Return on average tangible shareholders' equity (non-GAAP)(5)			12.73 %		14.06 %
Pre-provision net revenue / average assets (non-GAAP)(6)			1.78 %		1.79 %
Efficiency ratio (FTE) (non-GAAP)(7)			56.35 %		55.68 %

 

S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited
	2025		2025		2024
	Third		Second		Third
(dollars in thousands)	Quarter		Quarter		Quarter
ASSETS
Cash and due from banks	$196,228		$203,118		$228,090
Securities available for sale, at fair value	1,001,149		1,021,183		1,011,312
Loans held for sale	—		—		307
Commercial loans:
Commercial real estate	3,653,790		3,520,294		3,327,895
Commercial and industrial	1,466,075		1,512,027		1,548,172
Commercial construction	320,190		397,785		386,509
Total Commercial Loans	5,440,055		5,430,106		5,262,576
Consumer loans:
Residential mortgage	1,700,636		1,678,992		1,612,629
Home equity	698,886		681,143		645,966
Installment and other consumer	102,600		100,177		105,235
Consumer construction	38,830		44,016		62,648
Total Consumer Loans	2,540,952		2,504,328		2,426,478
Total Portfolio Loans	7,981,007		7,934,434		7,689,054
Allowance for credit losses	(98,155)		(98,580)		(104,321)
Total Portfolio Loans, Net	7,882,852		7,835,854		7,584,733
Federal Home Loan Bank and other restricted stock, at cost	15,042		15,817		11,484
Goodwill	373,424		373,424		373,424
Other Intangible assets, net	2,450		2,656		3,173
Other assets	346,338		358,017		371,424
Total Assets	$9,817,483		$9,810,069		$9,583,947
LIABILITIES
Deposits:
Noninterest-bearing demand	$2,188,699		$2,182,346		$2,157,537
Interest-bearing demand	745,904		738,251		773,224
Money market	2,194,702		2,236,298		2,074,095
Savings	868,019		879,254		879,653
Certificates of deposit	1,924,619		1,884,771		1,770,332
Total Deposits	7,921,943		7,920,920		7,654,841
Borrowings:
Short-term borrowings	135,000		150,000		225,000
Long-term borrowings	50,836		50,856		64,015
Junior subordinated debt securities	49,463		49,448		49,403
Total Borrowings	235,299		250,304		338,418
Other liabilities	184,775		193,352		214,934
Total Liabilities	8,342,017		8,364,576		8,208,193
SHAREHOLDERS' EQUITY
Total Shareholders' Equity	1,475,466		1,445,493		1,375,754
Total Liabilities and Shareholders' Equity	$9,817,483		$9,810,069		$9,583,947
Capitalization Ratios
Shareholders' equity / assets	15.03 %		14.73 %		14.35 %
Tangible common equity / tangible assets (non-GAAP)(9)	11.65 %		11.34 %		10.86 %
Tier 1 leverage ratio	12.33 %		12.18 %		11.70 %
Common equity tier 1 capital	14.75 %		14.59 %		14.37 %
Risk-based capital - tier 1	15.06 %		14.91 %		14.70 %
Risk-based capital - total	16.63 %		16.48 %		16.28 %

 

S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited
	2025		2025		2024
	Third		Second		Third
(dollars in thousands)	Quarter		Quarter		Quarter
Net Interest Margin (FTE) (non-GAAP) (QTD Averages)
ASSETS
Interest-bearing deposits with banks	$128,236	4.43 %	$120,156	4.46 %	$200,301	5.44 %
Securities, at fair value	1,011,624	3.80 %	1,011,629	3.79 %	990,375	3.12 %
Loans held for sale	18	6.88 %	—	0.00 %	20	6.77 %
Commercial real estate	3,564,071	5.86 %	3,477,321	5.88 %	3,298,619	5.96 %
Commercial and industrial	1,485,816	6.78 %	1,519,133	6.71 %	1,566,145	7.39 %
Commercial construction	379,167	6.97 %	382,363	6.94 %	406,321	7.82 %
Total Commercial Loans	5,429,054	6.19 %	5,378,817	6.19 %	5,271,085	6.53 %
Residential mortgage	1,688,697	5.33 %	1,674,231	5.26 %	1,589,791	5.11 %
Home equity	687,639	6.35 %	670,066	6.37 %	642,384	7.01 %
Installment and other consumer	100,551	7.85 %	99,550	7.88 %	103,390	8.65 %
Consumer construction	40,612	6.73 %	41,025	6.82 %	62,998	6.42 %
Total Consumer Loans	2,517,499	5.73 %	2,484,872	5.69 %	2,398,563	5.81 %
Total Portfolio Loans	7,946,553	6.04 %	7,863,689	6.03 %	7,669,648	6.30 %
Total Loans	7,946,571	6.04 %	7,863,689	6.03 %	7,669,668	6.30 %
Total other earning assets	13,808	7.63 %	16,537	7.70 %	15,413	6.21 %
Total Interest-earning Assets	9,100,239	5.77 %	9,012,011	5.76 %	8,875,757	5.93 %
Noninterest-earning assets	699,840		712,891		744,609
Total Assets	$9,800,079		$9,724,902		$9,620,366
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing demand	$742,817	0.99 %	$763,687	1.01 %	$785,854	1.11 %
Money market	2,247,331	3.06 %	2,188,771	3.04 %	2,051,754	3.40 %
Savings	873,968	0.72 %	880,448	0.69 %	891,952	0.75 %
Certificates of deposit	1,915,006	3.96 %	1,872,329	4.07 %	1,825,530	4.60 %
Total Interest-bearing Deposits	5,779,122	2.74 %	5,705,235	2.75 %	5,555,090	3.04 %
Short-term borrowings	73,538	4.53 %	135,659	4.63 %	202,500	4.88 %
Long-term borrowings	50,846	3.80 %	50,866	3.80 %	40,383	4.47 %
Junior subordinated debt securities	49,454	7.08 %	49,439	7.12 %	49,394	8.11 %
Total Borrowings	173,838	5.04 %	235,964	4.97 %	292,277	5.37 %
Total Other Interest-bearing Liabilities	28,049	4.36 %	32,202	4.39 %	41,038	5.36 %
Total Interest-bearing Liabilities	5,981,009	2.81 %	5,973,401	2.84 %	5,888,405	3.17 %
Noninterest-bearing liabilities	2,355,972		2,315,213		2,377,914
Shareholders' equity	1,463,098		1,436,288		1,354,047
Total Liabilities and Shareholders' Equity	$9,800,079		$9,724,902		$9,620,366
Net Interest Margin (FTE) (non-GAAP)(10)		3.93 %		3.88 %		3.82 %

 

S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited
			Nine Months Ended September 30,
(dollars in thousands)			2025		2024
Net Interest Margin (FTE) (non-GAAP) (YTD Averages)
ASSETS
Interest-bearing deposits with banks			$125,708	4.45 %	$162,957	5.54 %
Securities, at fair value			1,004,633	3.73 %	972,941	2.96 %
Loans held for sale			7	6.23 %	74	7.14 %
Commercial real estate			3,479,614	5.85 %	3,336,689	5.95 %
Commercial and industrial			1,513,214	6.73 %	1,599,528	7.37 %
Commercial construction			378,819	6.95 %	382,177	7.78 %
Total Commercial Loans			5,371,647	6.18 %	5,318,394	6.51 %
Residential mortgage			1,674,472	5.27 %	1,532,410	5.02 %
Home equity			670,399	6.34 %	645,055	7.01 %
Installment and other consumer			99,839	7.90 %	106,523	8.64 %
Consumer construction			42,248	6.81 %	68,504	5.98 %
Total Consumer Loans			2,486,958	5.69 %	2,352,492	5.75 %
Total Portfolio Loans			7,858,605	6.02 %	7,670,886	6.28 %
Total Loans			7,858,612	6.02 %	7,670,960	6.28 %
Total other earning assets			15,694	7.34 %	20,260	6.87 %
Total Interest-earning Assets			9,004,647	5.75 %	8,827,118	5.90 %
Noninterest-earning assets			713,016		746,295
Total Assets			$9,717,663		$9,573,413
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing demand			$761,804	1.00 %	$812,443	1.12 %
Money market			2,175,399	3.02 %	1,970,539	3.27 %
Savings			879,645	0.69 %	915,643	0.69 %
Certificates of deposit			1,882,923	4.11 %	1,746,498	4.51 %
Total Interest-bearing deposits			5,699,771	2.75 %	5,445,123	2.91 %
Short-term borrowings			108,811	4.61 %	290,602	5.17 %
Long-term borrowings			50,866	3.80 %	39,571	4.51 %
Junior subordinated debt securities			49,439	7.12 %	49,379	8.17 %
Total Borrowings			209,116	5.01 %	379,552	5.49 %
Total Other Interest-bearing Liabilities			34,667	4.39 %	50,303	5.40 %
Total Interest-bearing Liabilities			5,943,554	2.84 %	5,874,978	3.10 %
Noninterest-bearing liabilities			2,340,420		2,382,352
Shareholders' equity			1,433,689		1,316,083
Total Liabilities and Shareholders' Equity			$9,717,663		$9,573,413
Net Interest Margin (FTE) (non-GAAP)(8)				3.87 %		3.84 %

 

S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited
	2025		2025		2024
	Third		Second		Third
(dollars in thousands)	Quarter		Quarter		Quarter
Nonaccrual Loans
Commercial loans:		% Loans		% Loans		% Loans
Commercial real estate	$27,964	0.77 %	$3,967	0.11 %	$14,877	0.45 %
Commercial and industrial	9,826	0.67 %	5,459	0.36 %	5,789	0.37 %
Commercial construction	869	0.27 %	869	0.22 %	3,416	0.88 %
Total Nonaccrual Commercial Loans	38,659	0.71 %	10,295	0.19 %	24,082	0.46 %
Consumer loans:
Residential mortgage	7,005	0.41 %	7,239	0.43 %	4,478	0.28 %
Home equity	3,790	0.54 %	3,593	0.53 %	3,065	0.47 %
Installment and other consumer	164	0.16 %	185	0.18 %	264	0.25 %
Total Nonaccrual Consumer Loans	10,959	0.43 %	11,017	0.44 %	7,807	0.32 %
Total Nonaccrual Loans	$49,618	0.62 %	$21,312	0.27 %	$31,889	0.41 %

 

	2025		2025		2024
	Third		Second		Third
(dollars in thousands)	Quarter		Quarter		Quarter
Loan Charge-offs (Recoveries)
Charge-offs	$3,053		$1,656		$2,440
Recoveries	(639)		(498)		(303)
Net Loan Charge-offs	$2,414		$1,158		$2,137
Net Loan Charge-offs (Recoveries)
Commercial loans:
Commercial real estate	$106		($16)		$47
Commercial and industrial	2,142		331		1,255
Commercial construction	(9)		89		—
Total Commercial Loan Charge-offs	2,239		404		1,302
Consumer loans:
Residential mortgage	32		13		(5)
Home equity	9		160		580
Installment and other consumer	134		581		260
Total Consumer Loan Charge-offs	175		754		835
Total Net Loan Charge-offs	$2,414		$1,158		$2,137

 

S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited
			Nine Months Ended September 30,
(dollars in thousands)			2025		2024
Loan Charge-offs (Recoveries)
Charge-offs			$5,593		$10,224
Recoveries			(2,048)		(1,885)
Net Loan Charge-offs			$3,545		$8,339
Net Loan Charge-offs (Recoveries)
Commercial loans:
Commercial real estate			($56)		$4,906
Commercial and industrial			2,627		1,547
Commercial construction			110		—
Total Commercial Loan Charge-offs			2,681		6,453
Consumer loans:
Residential mortgage			58		35
Home equity			188		959
Installment and other consumer			618		892
Total Consumer Loan Charge-offs			864		1,886
Total Net Loan Charge-offs			$3,545		$8,339

 

	2025		2025		2024
	Third		Second		Third
(dollars in thousands)	Quarter		Quarter		Quarter
Asset Quality Data
Nonaccrual loans	$49,618		$21,312		$31,889
OREO	8		—		—
Total nonperforming assets	49,626		21,312		31,889
Nonaccrual loans / total loans	0.62 %		0.27 %		0.41 %
Nonperforming assets / total loans plus OREO	0.62 %		0.27 %		0.41 %
Allowance for credit losses / total portfolio loans	1.23 %		1.24 %		1.36 %
Allowance for credit losses / nonaccrual loans	198 %		463 %		327 %
Net loan charge-offs	$2,414		$1,158		$2,138
Net loan charge-offs (annualized) / average loans	0.12 %		0.06 %		0.11 %

 

			Nine Months Ended September 30,
(dollars in thousands)			2025		2024
Asset Quality Data
Net loan charge-offs			$3,545		$8,339
Net loan charge-offs (annualized) / average loans			0.06 %		0.15 %

 

S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited
Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures:
	2025		2025		2024
	Third		Second		Third
(dollars in thousands, except per share data)	Quarter		Quarter		Quarter
(1)  Tangible Book Value (non-GAAP)
Total shareholders' equity	$1,475,466		$1,445,493		$1,375,754
Less: goodwill and other intangible assets, net of deferred tax liability	(375,359)		(375,522)		(375,931)
Tangible common equity (non-GAAP)	$1,100,107		$1,069,971		$999,823
Common shares outstanding	38,350,500		38,345,448		38,259,730
Tangible book value (non-GAAP)	$28.69		$27.90		$26.13
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)	$138,708		$127,951		$129,652
Plus: amortization of intangibles (annualized), net of tax	649		653		893
Net income before amortization of intangibles (annualized)	$139,357		$128,604		$130,545
Average total shareholders' equity	$1,463,098		$1,436,288		$1,354,047
Less: average goodwill and other intangible assets, net of deferred tax liability	(375,446)		(375,572)		(376,048)
Average tangible equity (non-GAAP)	$1,087,652		$1,060,716		$977,999
Return on average tangible shareholders' equity (non-GAAP)	12.81 %		12.12 %		13.35 %
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	$43,836		$39,984		$41,443
Plus: net loss on sale of securities	—		—		2,199
Less: gain on Visa Class B-1 exchange	—		—		(150)
Plus: Provision for credit losses	2,792		1,974		(454)
Total	$46,628		$41,958		$43,038
Total (annualized) (non-GAAP)	$184,992		$168,293		$171,216
Average assets	$9,800,079		$9,724,902		$9,620,366
Pre-provision Net Revenue / Average Assets (non-GAAP)	1.89 %		1.73 %		1.78 %
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	$56,376		$58,114		$55,365
Net interest income per consolidated statements of net income	$89,241		$86,572		$84,477
Plus: taxable equivalent adjustment	602		590		671
Net interest income (FTE) (non-GAAP)	89,843		87,162		85,148
Noninterest income	13,763		13,500		11,877
Plus: net loss on sale of securities	—		—		2,199
Less: gain on Visa Class B-1 exchange	—		—		(150)
Net interest income (FTE) (non-GAAP) plus noninterest income	$103,606		$100,662		$99,074
Efficiency ratio (FTE) (non-GAAP)	54.41 %		57.73 %		55.88 %
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
			Nine Months Ended September 30,
(dollars in thousands)			2025		2024
(5)  Return on Average Tangible Shareholders' Equity (non-GAAP)
Net income (annualized)			$134,051		$131,172
Plus: amortization of intangibles (annualized), net of tax			690		919
Net income before amortization of intangibles (annualized)			$134,741		$132,091
Average total shareholders' equity			$1,433,689		$1,316,083
Less: average goodwill and other intangible assets, net of deferred tax liability			(375,585)		(376,283)
Average tangible equity (non-GAAP)			$1,058,104		$939,800
Return on average tangible shareholders' equity (non-GAAP)			12.73 %		14.06 %
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			$125,521		$123,472
Plus: net losses on sale of securities			2,295		5,346
Less: gain on Visa Class B-1 exchange			—		(3,306)
Plus: Provision for credit losses			1,726		2,595
Total			$129,542		$128,107
Total (annualized) (non-GAAP)			$173,197		$171,121
Average assets			$9,717,663		$9,573,413
Pre-provision Net Revenue / Average Assets (non-GAAP)			1.78 %		1.79 %
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			$169,581		$163,493
Net interest income per consolidated statements of net income			$259,136		$251,548
Plus: taxable equivalent adjustment			1,810		2,045
Net interest income (FTE) (non-GAAP)			260,946		253,593
Noninterest income			37,692		38,012
Plus: net losses on sale of securities			2,295		5,346
Less: gain on Visa Class B-1 exchange			—		(3,306)
Net interest income (FTE) (non-GAAP) plus noninterest income			$300,933		$293,645
Efficiency ratio (FTE) (non-GAAP)			56.35 %		55.68 %
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.
(8)  Net Interest Margin (FTE) (non-GAAP)
Interest income and dividend income			$385,377		$387,993
Less: interest expense			(126,241)		(136,445)
Net interest income per consolidated statements of net income			259,136		251,548
Plus: taxable equivalent adjustment			1,810		2,045
Net interest income (FTE) (non-GAAP)			$260,946		$253,593
Net interest income (FTE) (annualized)			$348,884		$338,741
Average interest-earning assets			$9,004,647		$8,827,118
Net interest margin - (FTE) (non-GAAP)			3.87 %		3.84 %
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		2025		2024
	Third		Second		Third
(dollars in thousands)	Quarter		Quarter		Quarter
(9)  Tangible Common Equity / Tangible Assets (non-GAAP)
Total shareholders' equity	$1,475,466		$1,445,493		$1,375,754
Less: goodwill and other intangible assets, net of deferred tax liability	(375,359)		(375,522)		(375,931)
Tangible common equity (non-GAAP)	$1,100,107		$1,069,971		$999,823
Total assets	$9,817,483		$9,810,069		$9,583,947
Less: goodwill and other intangible assets, net of deferred tax liability	(375,359)		(375,522)		(375,931)
Tangible assets (non-GAAP)	$9,442,124		$9,434,547		$9,208,016
Tangible common equity to tangible assets (non-GAAP)	11.65 %		11.34 %		10.86 %
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	$131,623		$128,906		$131,474
Less: interest expense	(42,382)		(42,334)		(46,997)
Net interest income per consolidated statements of net income	89,241		86,572		84,477
Plus: taxable equivalent adjustment	602		590		671
Net interest income (FTE) (non-GAAP)	$89,843		$87,162		$85,148
Net interest income (FTE) (annualized)	$356,442		$349,606		$338,741
Average interest-earning assets	$9,100,239		$9,012,011		$8,875,757
Net interest margin (FTE) (non-GAAP)	3.93 %		3.88 %		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.

 

 

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SOURCE S&T Bancorp, Inc.

FAQ

What were S&T Bancorp's (STBA) Q3 2025 earnings and EPS?

S&T reported $35.0 million net income and $0.91 diluted EPS for Q3 2025.

How did S&T Bancorp's net interest margin (NIM) change in Q3 2025 for STBA?

NIM (FTE) expanded by 5 basis points to 3.93% versus Q2 2025.

What loan growth did STBA report for Q3 2025?

Total portfolio loans increased by $46.6 million, a 2.33% annualized gain versus June 30, 2025.

Are S&T Bancorp's capital ratios and reserves adequate after Q3 2025 results?

The allowance for credit losses was $98.2 million (1.23% of loans) and the company reported capital ratios above well-capitalized thresholds.

Did STBA report any deterioration in asset quality in Q3 2025?

Yes. Nonperforming assets rose to $49.6 million (0.62% of loans plus OREO) and net charge-offs increased to $2.4 million.