S&T Bancorp(US:STBA)2025-10-23 11:30Financial Performance - Net income for Q3 2025 was $35.0 million, or $0.91 per diluted share, up from $31.9 million, or $0.83 per diluted share in Q2 2025[1] - Net income for Q3 2025 was $34,962,000, up from $32,590,000 in Q3 2024, resulting in diluted earnings per share of $0.91[19] - Net income (annualized) for the nine months ended September 30, 2025, was $134,051, compared to $131,172 for the same period in 2024[29] Interest Income and Margin - Net interest income increased by $2.6 million, or 3.00%, to $89.2 million in Q3 2025 compared to $86.6 million in Q2 2025[3] - Total interest and dividend income for Q3 2025 was $131,623,000, a slight decrease from $131,474,000 in Q3 2024[19] - Net interest income after provision for credit losses increased to $86,449,000 in Q3 2025 from $84,931,000 in Q3 2024[19] - Net interest margin (FTE) (non-GAAP) for Q3 2025 was 3.93%, compared to 3.88% in Q2 2025 and 3.82% in Q3 2024[33] Asset and Loan Growth - Average interest-earning assets rose by $88.2 million to $9.1 billion in Q3 2025 from $9.0 billion in Q2 2025[3] - Total portfolio loans increased by $46.6 million, or 2.33% annualized, compared to June 30, 2025[4] - Total assets reached $9,817,483,000 as of Q3 2025, an increase from $9,583,947,000 in Q3 2024[21] - Total loans reached $7,946,571 thousand in Q3 2025, maintaining a net interest margin of 6.04%, consistent with Q2 2025[22] Nonperforming Assets and Credit Losses - Nonperforming assets (NPAs) rose to $49.6 million, or 0.62% of total loans plus OREO, from $21.3 million, or 0.27%, at June 30, 2025[5] - Nonaccrual loans amounted to $49,618 thousand in Q3 2025, representing 0.62% of total loans, an increase from 0.27% in Q2 2025[24] - Net loan charge-offs for Q3 2025 were $2,414 thousand, up from $1,158 thousand in Q2 2025, indicating a rise in credit losses[24] - The allowance for credit losses (ACL) was $98.2 million, or 1.23% of total portfolio loans, at September 30, 2025[5] Deposits and Equity - Total deposits increased by $1.0 million, or 0.05% annualized, compared to June 30, 2025[7] - Total deposits increased to $7,921,943,000 in Q3 2025 from $7,654,841,000 in Q3 2024, reflecting a strong deposit base[21] - The company reported a total equity of $1,463,098 thousand in Q3 2025, reflecting a stable capital position[22] Efficiency and Return Ratios - Return on average assets (ROA) improved to 1.42% in Q3 2025 from 1.32% in Q2 2025[4] - The efficiency ratio (FTE) improved to 54.41% in Q3 2025 from 55.88% in Q3 2024, indicating better cost management[19] - Return on average tangible shareholders' equity (non-GAAP) for Q3 2025 was 12.81%, compared to 12.12% in Q2 2025 and 13.35% in Q3 2024[27] Dividends and Shareholder Value - The company declared dividends of $0.34 per share in Q3 2025, compared to $0.33 per share in Q3 2024, with a dividend yield of 3.62%[19] - Tangible book value increased to $28.69 in Q3 2025, up from $27.90 in Q2 2025 and $26.13 in Q3 2024[27]