Prnewswireยท2025-07-24 11:30Core Insights - S&T Bancorp, Inc. reported a net income of $31.9 million, or $0.83 per diluted share, for Q2 2025, a decrease from $33.4 million, or $0.87 per diluted share, in Q1 2025 and $34.4 million, or $0.89 per diluted share, in Q2 2024 [1][16]. Financial Performance - Net interest income increased by $3.3 million, or 3.90%, to $86.6 million in Q2 2025 compared to $83.3 million in Q1 2025 [4]. - Average interest-earning assets rose by $112.5 million to $9.0 billion in Q2 2025 from $8.9 billion in Q1 2025 [4]. - The net interest margin (NIM) expanded by 7 basis points to 3.88% in Q2 2025 from 3.81% in Q1 2025 [4][22]. Asset Quality - The allowance for credit losses (ACL) was $98.6 million, or 1.24% of total portfolio loans, at June 30, 2025, compared to $99.0 million, or 1.26%, at March 31, 2025 [5]. - Nonperforming assets decreased by $1.1 million to $21.3 million, or 0.27% of total loans plus other real estate owned (OREO), from $22.4 million, or 0.29%, at March 31, 2025 [5][7]. Noninterest Income and Expense - Noninterest income increased by $3.1 million to $13.5 million in Q2 2025 compared to $10.4 million in Q1 2025, primarily due to higher debit and credit card fees and service charges [6]. - Total noninterest expense rose by $3.0 million to $58.1 million compared to $55.1 million in Q1 2025, with salaries and employee benefits increasing by $3.1 million [6]. Financial Condition - Total assets were $9.8 billion at June 30, 2025, compared to $9.7 billion at March 31, 2025 [7]. - Total portfolio loans increased by $98.1 million, or 5.02% annualized, compared to March 31, 2025 [7]. - Total deposits increased by $28.0 million, or 1.42% annualized, compared to March 31, 2025 [8]. Capital Position - S&T Bancorp maintained a strong regulatory capital position with all capital ratios above the well-capitalized thresholds set by federal bank regulatory agencies [9].