S&T Bancorp(US:STBA)2023-08-10 11:59Financial Performance - Pre-provision Net Revenue (PPNR) to Average Assets (non-GAAP) was 2.30%[2], which increased by 7 basis points compared to 1Q23[11] - Return on Average Tangible Shareholders' Equity (ROTE) (non-GAAP) was 16.32%[3] - Net Interest Margin (NIM) remains strong at 4.22%, a modest decline of 10 basis points compared to 1Q23[11, 18] - The efficiency ratio was 48.21%[11] Asset Quality - Net charge-offs were $11.0 million, or 0.60% of average loans (annualized)[11] - Nonperforming Assets decreased $9.7 million to 0.25% of total loans plus OREO[30] Capital and Balance Sheet - Tangible common equity to tangible assets (non-GAAP) was 9.42%[5] - Loans increased $68.5 million, or 3.8% annualized, since March 31, 2023[12] - Share repurchases of $20.0 million occurred in 2Q23[48] Income and Expense - Quarterly net interest income has improved $19.7 million, or 28.8%, since the fourth quarter of 2021[32] - Noninterest expense decreased by $2.0 million compared to 1Q23[35]