Company: STBA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000719220-25-000053
Chunk: 85

Company: S&T BANCORP INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 85
---
 per share - diluted$0.83 $0.89 $1.69 $1.70 Return on average assets1.32 %1.45 %1.36 %1.38 %Return on average shareholders' equity8.91 %10.61 %9.28 %10.17 %Return on average tangible shareholders' equity (non-GAAP)(1)12.12 %15.01 %12.69 %14.44 %(1) Reconciled to GAAP in the "Explanation of Use of Non-GAAP Financial Measures" section of this MD&A.

We recognized net income of $31.9 million, or $0.83 per diluted share, for the three months ended June 30, 2025 compared to net income of $34.4 million, or $0.89 per diluted share, for the same period in 2024 and net income of $65.3 million, or $1.69 per diluted share, for the six months ended June 30, 2025 compared to net income of $65.6 million, or $1.70 per diluted share, for the same period in 2024.

Net interest income increased $3.0 million, or 3.56 percent, and $2.8 million, or 1.69 percent, for the three and six months ended June 30, 2025 compared to the same periods in 2024. Net interest margin, or NIM, on an FTE basis (non-GAAP) increased 3 basis points to 3.88% for the three months ended June 30, 2025 compared to 3.85% in the same period in 2024 and remained unchanged at 3.84% for the six months ended June 30, 2025 and June 30, 2024. These improvements in both net interest income on an FTE basis (non-GAAP) and NIM on an FTE basis (non-GAAP) were primarily due to the impact of lower interest rates on interest bearing liabilities and an improvement on our overall funding mix. Strong customer deposit growth in 2024 and 2025 has reduced our levels of wholesale funding.

28

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