Company: STBA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000719220-25-000028
Chunk: 89

Company: S&T BANCORP INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 89
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 months ended March 31, 2025 compared to the same period in 2024. The decrease was mainly related to $2.3 million of realized losses from the repositioning of securities into longer duration, higher-yielding securities. 

Noninterest ExpenseThree Months Ended March 31,(dollars in thousands)20252024$ Change% ChangeSalaries and employee benefits$29,853 $29,512 $341 1.2 %Data processing and information technology4,930 4,954 (24)(0.5)%Occupancy4,302 3,870 432 11.2 %Furniture, equipment and software3,483 3,472 11 0.3 %Marketing1,615 1,943 (328)(16.9)%Other taxes1,494 1,871 (377)(20.1)%Professional services and legal1,286 1,720 (434)(25.2)%FDIC insurance1,040 1,049 (9)(0.9)%Other7,088 6,129 959 15.6 %Total Noninterest Expense$55,091 $54,520 $571 1.0 %

Noninterest expense increased $0.6 million to $55.1 million for the three months ended March 31, 2025 compared to the same period in 2024. Salaries and employee benefits increased $0.3 million primarily due to annual merit increases, restricted stock expense and higher incentives. Occupancy increased $0.4 million due to increased maintenance and utility costs. Other noninterest expense increased $1.0 million primarily as a result of education and Neighborhood Assistance Program, or NAP, contributions occurring earlier in 2025 than in 2024. Offsetting these increases were decreases in our expenses for marketing of $0.3 million related to the timing of various promotions, other taxes of $0.4 million due to education and NAP contributions and professional services and legal of $0.4 million primarily due to reduced consulting and legal expenses. 

31

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

Provision for Income Taxes

The provision for income taxes increased $0.4 million to $8.3 million for the three months ended March 31