Company: STBA
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000719220-25-000091
Chunk: 63

Company: S&T BANCORP INC
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 63
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 for the nine months ended September 30, 2025 due to increased maintenance and utility costs. Other noninterest expense increased $1.0 million for the nine months ended September 30, 2025 primarily related to higher recruitment and loan collection expenses. Other taxes increased $0.5 million for the nine months ended September 30, 2025 due to higher shares tax expense as compared to the same period in 2024.

Provision for Income Taxes

The provision for income taxes remained unchanged at $8.9 million and $25.3 million for the three and nine months ended September 30, 2025 compared to the same periods in 2024. Our effective tax rate was 20.2 percent and 20.1 percent for the three and nine months ended September 30, 2025 compared to 21.4 percent and 20.5 percent for the same periods in 2024. The decrease in our effective tax rate for the three and nine month periods ended September 30, 2025 was primarily due to an increase in low-income housing tax credits partially offset by a decrease in tax-exempt interest income compared to the same periods in 2024.

On July 4, 2025, “An Act to Provide for Reconciliation Pursuant to Title II of H. Con. Res. 14” was signed into law. The Act extends many of the key provisions of the 2017 Tax Cuts and Jobs Act, or TCJA, which were previously set to expire at the end of this year, and introduces several new tax measures. We do not expect the Act to have a material impact on our consolidated financial statements.

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Table of ContentsS&T BANCORP, INC. AND SUBSIDIARIESItem 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Financial Condition as of September 30, 2025

Total assets increased $159.5 million to $9.8 billion at September 30, 2025 compared to $9.7 billion at December 31, 2024. Total portfolio loans increased $238.0 million to $8.0 billion at September 30, 2025 compared to December 31, 2024. The commercial loan portfolio increased $158.8 million and the consumer loan portfolio increased $79.3 million compared to December 31, 2024.

Securities increased $13.6 million to $1.