UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-12508 S&T BANCORP, INC. (Exact name of registrant as specified in its charter) Pennsylvania 25-1434426 (State or other jurisdiction of incorporation ...

S&T Bancorp, Inc. (NASDAQ:STBA) Q4 2022 Results Conference Call January 26, 2023 1:00 PM ET Company Participants Mark Kochvar - CFO Chris McComish - CEO Dave Antolik - President Conference Call Participants Daniel DeMille - Raymond James Michael Perito - KBW Matthew Breese - Stephens Daniel Cardenas - Janney Montgomery Scott Manuel Navas - D.A. Davidson Operator Welcome to the S&T Bancorp's Fourth Quarter Earnings Conference Call. After management's remarks, there will be a question-and-answer session. Now, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ FORM 10-Q ______________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-12508 S&T BANCORP INC. (Exact name of registrant ...

S&T Bancorp, Inc. (NASDAQ:STBA) Q3 2022 Earnings Conference Call October 20, 2022 1:00 PM ET Company Participants Mark Kochvar - Chief Financial Officer Chris McComish - Chief Executive Officer Dave Antolik - President Conference Call Participants Daniel Tamayo - Raymond James Michael Perito - KBW Matthew Breese - Stephens, Inc. Daniel Cardenas - Janney Montgomery Scott Operator Good day, ladies and gentlemen. Thank you for standing by. Welcome to the S&T Bancorp’s Third Quarter Earnings Conference Call. At ...

Third Quarter 2022 Earnings Supplement Forward Looking Statements and Risk Factors 2 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 ...

Financial Performance - Net income for the three months ended June 30, 2022, increased to $28.858 million, compared to $28.367 million for the same period in 2021, primarily due to a $6.9 million increase in net interest income [104]. - Net income for the three months ended June 30, 2022, was $115,750, compared to $113,778 for the same period in 2021, reflecting an increase of 1.1% [113]. - The company reported a return on average assets of 1.25% for the three months ended June 30, 2022, compared to 1.21% for the same period in 2021 [104]. - The return on average tangible shareholders' equity was 14.63% for the three months ended June 30, 2022, compared to 14.41% for the same period in 2021 [104]. Income and Expenses - Net interest income rose by $6.9 million and $4.0 million for the three and six months ended June 30, 2022, respectively, attributed to higher interest rates during 2022 [105]. - Noninterest income decreased by $2.8 million to $12.6 million for the three months ended June 30, 2022, and by $4.9 million to $27.9 million for the six months ended June 30, 2022, primarily due to lower mortgage banking income [107]. - Noninterest expense increased by $2.6 million to $48.4 million for the three months ended June 30, 2022, and by $4.3 million to $95.8 million for the six months ended June 30, 2022, driven by higher professional services and legal costs [108]. - The provision for credit losses increased by $0.6 million to $3.2 million for the three months ended June 30, 2022, but decreased by $3.0 million to $2.7 million for the six months ended June 30, 2022, due to recoveries in large loans [106]. Assets and Liabilities - S&T Bancorp, Inc. had total assets of $9.1 billion as of June 30, 2022, operating in five markets across Pennsylvania and Ohio [101]. - Total assets decreased by $384.7 million to $9.1 billion at June 30, 2022, compared to $9.5 billion at December 31, 2021 [133]. - Total deposits decreased by $384.3 million to $7.6 billion at June 30, 2022, compared to $8.0 billion at December 31, 2021 [135]. - Total borrowings decreased by $45.6 million to $115.7 million as of June 30, 2022, primarily due to a decrease in securities sold under repurchase agreements [156]. Loan Portfolio - Total portfolio loans increased by $40.9 million to $7.0 billion at June 30, 2022, compared to December 31, 2021 [133]. - Commercial loans decreased by $109.5 million to comprise 75.2% of total portfolio loans at June 30, 2022, down from 77.2% at December 31, 2021 [143]. - Consumer loans increased by $150.4 million at June 30, 2022, representing 24.8% of total portfolio loans, up from 22.8% at December 31, 2021 [146]. - The allowance for credit losses (ACL) was $98.1 million, or 1.39% of total portfolio loans, at June 30, 2022, compared to $98.6 million, or 1.41%, at December 31, 2021 [148]. Capital and Ratios - The leverage ratio improved to 10.25% as of June 30, 2022, compared to 9.74% at December 31, 2021, exceeding the regulatory guideline of 5.00% [165]. - The Common Equity Tier 1 ratio was 12.34% as of June 30, 2022, up from 12.03% at December 31, 2021, both above the regulatory minimum of 6.50% [165]. Market Risk and Interest Rates - The company implemented various ALCO strategies to manage interest rate and liquidity risks effectively, contributing to the stability of net interest income [115]. - The rate shock analyses indicate a 30.1% increase in pretax net interest income over 1-12 months with a 400 basis point increase in interest rates as of June 30, 2022 [174]. - The economic value of equity (EVE) shows a decline of 4.0% over 1-12 months with a 400 basis point increase in interest rates as of June 30, 2022 [174]. - The company has policy guidelines that limit changes in pretax net interest income and EVE using rate shocks in increments of +/- 100 basis points [171][172]. Strategic Initiatives - The company aims to pursue high-impact growth initiatives and enhance its digital platform as part of its strategic priorities for 2022 and beyond [103]. - S&T Bancorp is monitoring the impact of the pandemic and is taking a prudent approach to capital management due to economic uncertainty [168].

Financial Data and Key Metrics Changes - The company reported a net income of $29 million, showing significant year-over-year and quarter-over-quarter increases in pre-provision net revenue (PPNR), driven by substantial margin expansion [8][12] - Net interest income increased by $7.5 million or 11% compared to the first quarter, with a net interest margin rate up 40 basis points [14][15] - The allowance for credit losses (ACL) decreased by 4 basis points to 1.39%, reflecting a cautious outlook due to broader economic concerns [14] Business Line Data and Key Metrics Changes - Consumer loan growth was solid, attributed to a strategic focus on deepening customer relationships, with newly originated production in the mortgage division contributing significantly [9][10] - Commercial and industrial (C&I) balances increased by $20 million, while commercial real estate (CRE) saw a reduction of $65 million during the quarter [10][12] - Mortgage production was higher by almost 25%, although mortgage banking income decreased by $0.5 million as production was directed to the portfolio [16] Market Data and Key Metrics Changes - The loan pipeline activity shifted, with mortgage and consumer pipelines down from Q1, while commercial and business banking pipelines increased [11] - Nonperforming assets (NPAs) decreased by nearly $21 million or 35% in the quarter, with a year-over-year reduction of $75 million or nearly 66% [12][30] Company Strategy and Development Direction - The company aims to strengthen its foundation based on customer trust and improve core operations while positioning for growth [6][9] - There is a focus on enhancing employee engagement and leadership capabilities to drive financial performance [6][8] - The strategic emphasis will continue on commercial banking, particularly in the middle market and small business segments, while enhancing treasury management and payment capabilities [35][36] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding future performance, highlighting the importance of monitoring customer liquidity and potential credit pressures due to rising rates [30][33] - The company is focused on maintaining a strong deposit franchise and customer relationships, which are seen as critical in uncertain economic times [22][33] - Future loan growth is expected to be moderate, with a focus on stability rather than aggressive expansion in a volatile market [38] Other Important Information - The company executed over $4 million in stock buybacks during the quarter, with approximately $33.3 million of repurchase capacity remaining [17][32] - Noninterest income decreased by $2.6 million, primarily due to declines in the fair value of assets in a nonqualified benefit plan [16] Q&A Session Summary Question: Fee income and expense guidance - Management expects net interest income and margin to increase significantly over the next two quarters, with a potential slight decrease if the Fed stops rate hikes [18][19] Question: Credit quality and nonperforming assets - Management noted significant improvement in NPAs and emphasized caution regarding liquidity and collateral values in the commercial book [28][30] Question: Capital deployment and buyback strategy - Management indicated a more serious consideration of buybacks moving forward, contingent on macroeconomic conditions and financial performance [32][33] Question: Deposit beta and interest rate sensitivity - Management anticipates a better deposit beta compared to previous cycles, with expectations of less than 30% through the cycle [39][40] Question: Balance sheet liquidity and asset sensitivity - Management provided insights on cash flows from the securities book and indicated a transition point in loan dynamics due to higher Fed rates [42][44]

Second Quarter 2022 Earnings Supplement Forward Looking Statements and Risk Factors 2 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, an ...

PART I. FINANCIAL INFORMATION [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Total assets slightly decreased to $9.43 billion, net income for Q1 2022 declined to $29.1 million, and shareholders' equity fell due to increased accumulated other comprehensive loss [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) Total assets decreased by $56.2 million to $9.43 billion, driven by reduced cash and partially offset by increased securities, while total liabilities and shareholders' equity also declined Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Total Assets** | **$9,432,281** | **$9,488,529** | | Cash and due from banks | $823,757 | $922,215 | | Securities, at fair value | $1,028,218 | $910,793 | | Portfolio loans, net | $6,863,996 | $6,901,414 | | **Total Liabilities** | **$8,247,331** | **$8,282,075** | | Total Deposits | $7,960,458 | $7,996,524 | | **Total Shareholders' Equity** | **$1,184,950** | **$1,206,454** | | Accumulated other comprehensive loss | ($47,043) | ($7,090) | [Condensed Consolidated Statements of Comprehensive Income (Loss)](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) Net income for Q1 2022 decreased to $29.1 million from $31.9 million year-over-year, primarily due to lower net interest and noninterest income, partially offset by a negative provision for credit losses Q1 Performance Summary (in thousands, except per share data) | Metric | Q1 2022 | Q1 2021 | | :--- | :--- | :--- | | Net Interest Income | $67,733 | $70,659 | | Provision for credit losses | ($512) | $3,137 | | Total Noninterest Income | $15,226 | $17,236 | | Total Noninterest Expense | $47,414 | $45,580 | | **Net Income** | **$29,143** | **$31,902** | | **Earnings per share—diluted** | **$0.74** | **$0.81** | | Comprehensive (Loss) Income | ($10,810) | $23,992 | [Consolidated Statements of Changes in Shareholders' Equity](index=5&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Shareholders'%20Equity) Shareholders' equity decreased from $1.206 billion to $1.185 billion, primarily due to a $39.95 million other comprehensive loss and cash dividends, outweighing net income - Total shareholders' equity decreased by **$21.5 million** during Q1 2022[12](index=12&type=chunk) - The decrease was driven by an other comprehensive loss of **$39.95 million** and cash dividends of **$11.38 million**, which offset the **$29.14 million** in net income[12](index=12&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities was $86.6 million, while investing and financing activities used $122.9 million and $62.1 million respectively, resulting in a $98.5 million net decrease in cash Cash Flow Summary (in thousands) | Activity | Q1 2022 | Q1 2021 | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | $86,596 | $90,000 | | Net Cash Used in Investing Activities | ($122,940) | ($19,507) | | Net Cash (Used in) Provided by Financing Activities | ($62,114) | $371,270 | | **Net (decrease) increase in cash and cash equivalents** | **($98,458)** | **$441,763** | [Notes to Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Notes detail the basis of presentation, fair value measurements, securities portfolio changes, stable loan portfolio with decreased PPP loans and nonperforming assets, a slight increase in ACL to $99.9 million, and new interest rate swaps - In Q1 2022, the company entered into four interest rate swaps designated as cash flow hedges to manage variability in cash flows from variable-rate assets[19](index=19&type=chunk)[83](index=83&type=chunk) - The Allowance for Credit Losses (ACL) on loans stood at **$99.9 million** at March 31, 2022, up from **$98.6 million** at year-end 2021[8](index=8&type=chunk)[77](index=77&type=chunk) - Nonperforming assets decreased to **$59.6 million** at March 31, 2022, from **$79.6 million** at December 31, 2021, primarily due to a reduction in nonaccrual loans and OREO[57](index=57&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=32&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management reported a decrease in Q1 2022 net income to $29.1 million due to lower net interest and noninterest income, partially offset by a negative provision for credit losses, while assets slightly decreased, and capital ratios remained strong [Overview](index=33&type=section&id=MD%26A_Overview) S&T Bancorp, a $9.4 billion bank holding company, focuses on organic loan growth, rigorous risk management, strategic infrastructure investments, and talent development as its 2022 priorities - The company's priorities for 2022 include high-impact growth initiatives, rigorous credit and enterprise risk management, strategic infrastructure investments (including digital), and talent development[103](index=103&type=chunk) - Organic loan growth is a top priority, pursued through a collaborative model and potential market expansion, with acquisitions also being evaluated[103](index=103&type=chunk) [Results of Operations](index=35&type=section&id=MD%26A_Results_of_Operations) Q1 2022 results show a $2.9 million decline in net interest income due to reduced PPP revenue, a negative $0.5 million provision for credit losses, a $2.0 million drop in noninterest income, and a $1.8 million increase in noninterest expenses Q1 2022 vs Q1 2021 Performance Changes (in millions) | Metric | Change | Key Driver | | :--- | :--- | :--- | | Net Interest Income | -$2.9 | Reduced PPP revenue (-$4.1M) | | Provision for Credit Losses | -$3.6 | $2.5M C&I recovery & improved economy | | Noninterest Income | -$2.0 | Lower mortgage banking income (-$3.3M) | | Noninterest Expense | +$1.8 | Higher professional services & salaries | - The net interest margin (NIM) on an FTE basis (non-GAAP) decreased by **31 basis points** year-over-year, with increased cash balances and reduced PPP revenue being the primary negative factors[105](index=105&type=chunk) [Financial Condition](index=40&type=section&id=MD%26A_Financial_Condition) Total assets slightly decreased to $9.4 billion, reflecting a shift from cash to securities, while portfolio loans declined but non-PPP loans grew, deposits remained stable, and shareholders' equity decreased due to unrealized losses - Total assets decreased by **$56.2 million** to **$9.4 billion**, with a strategic shift from cash to securities[131](index=131&type=chunk) - Excluding PPP loans, the portfolio loan balance increased by **$10.3 million** from December 31, 2021[131](index=131&type=chunk) - The securities portfolio shifted from a **$9.4 million** net unrealized gain at year-end 2021 to a **$38.8 million** net unrealized loss at March 31, 2022, due to rising interest rates[132](index=132&type=chunk)[137](index=137&type=chunk) [Allowance for Credit Losses (ACL)](index=41&type=section&id=MD%26A_Allowance_for_Credit_Losses) The ACL slightly increased to $99.9 million, driven by specific and qualitative reserves, while net loan recoveries of $2.0 million were recorded, and asset quality metrics improved with decreased substandard loans Key ACL Ratios | Ratio | March 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | ACL as a % of total portfolio loans | 1.43% | 1.41% | | ACL to nonperforming loans | 190% | 149% | - Net loan recoveries were **$2.0 million** for Q1 2022, primarily due to a **$2.5 million** recovery on a C&I relationship[149](index=149&type=chunk) - Substandard loans decreased by **$25.4 million** to **$209.8 million**, and special mention loans decreased by **$24.5 million** to **$167.8 million**, largely due to upgrades in the hotel portfolio[150](index=150&type=chunk) [Liquidity and Capital Resources](index=45&type=section&id=MD%26A_Liquidity_and_Capital_Resources) The company maintains strong liquidity with $1.3 billion in highly liquid assets and $2.6 billion in FHLB borrowing capacity, while all capital ratios remain well above regulatory thresholds S&T Bancorp, Inc. Capital Ratios | Ratio | March 31, 2022 | Well-Capitalized Threshold | | :--- | :--- | :--- | | Common equity tier 1 | 12.26% | 6.50% | | Tier 1 capital | 12.67% | 8.00% | | Total capital | 14.18% | 10.00% | - The company had **$1.3 billion** in highly liquid assets and **$2.6 billion** in remaining FHLB borrowing availability at quarter-end[162](index=162&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=46&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate risk, with an asset-sensitive balance sheet indicating net interest income is projected to increase in a rising rate environment and decrease in a falling rate environment - The company's balance sheet is asset-sensitive, meaning net interest income is expected to rise with increasing interest rates and fall with decreasing rates[171](index=171&type=chunk) Net Interest Income Sensitivity Analysis (1-12 Months) | Change in Interest Rate (bps) | % Change in Pretax Net Interest Income | | :--- | :--- | | +400 | 37.7% | | +200 | 18.7% | | +100 | 9.1% | | -100 | (6.5)% | [Controls and Procedures](index=47&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2022, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that disclosure controls and procedures were effective as of March 31, 2022[175](index=175&type=chunk) - No material changes were made to internal control over financial reporting during the first quarter of 2022[176](index=176&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=47&type=section&id=Item%201.%20Legal%20Proceedings) The company reported no legal proceedings during the period - None[178](index=178&type=chunk) [Risk Factors](index=47&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors were reported, except for a new risk factor related to the Russia-Ukraine conflict, highlighting potential adverse effects from sanctions, market volatility, and cyberattacks - A new risk factor was added related to Russia's invasion of Ukraine, noting potential disruptions from sanctions, market volatility, inflation, and cyberattacks that could adversely affect business operations and financial results[179](index=179&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=48&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company did not repurchase shares in Q1 2022, but extended its $50 million share repurchase plan through March 31, 2023, with $37.4 million remaining capacity - No shares were repurchased during the first quarter of 2022[180](index=180&type=chunk) - The company's **$50 million** share repurchase plan was extended to March 31, 2023, with **$37.4 million** in capacity remaining[180](index=180&type=chunk) [Defaults Upon Senior Securities](index=48&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities - None[181](index=181&type=chunk) [Mine Safety Disclosures](index=48&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not Applicable[181](index=181&type=chunk) [Other Information](index=48&type=section&id=Item%205.%20Other%20Information) The company reported no other information - None[181](index=181&type=chunk) [Exhibits](index=49&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including CEO and CFO certifications and XBRL data files

S&T Bancorp, Inc. (NASDAQ:STBA) Q1 2022 Results Conference Call April 21, 2022 1:00 PM ET Company Participants Dave Antolik - President Chris McComish - CEO Mark Kochvar - CFO Conference Call Participants Daniel Tamayo - Raymond James Michael Perito - KBW Russell Gunther - D.A. Davidson Matthew Breese - Stephens Daniel Cardenas - Boenning & Scattergood Operator Good day, ladies and gentlemen, and welcome to the S&T Bancorp First Quarter Earnings Conference Call. [Operator Instructions] It is now my pleasur ...