Company: STBA
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000719220-25-000013
Chunk: 101

Company: S&T BANCORP INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 101
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 Program$1,995,489 $— $1,995,489 769,653 — 769,653 Federal Reserve BTFP(2)$— $— $— 636,963 — 636,963 Total$3,976,104 $304,565 $3,671,539 $4,647,714 $552,136 $4,095,578 (1) FHLB balances include advances, letters of credit, interest due on advances and the credit enhancement obligation on mortgages sold to the FHLB. (2)Emergency lending program created by the Federal Reserve in March 2023 which ceased making new fundings in March 2024.

At December 31, 2024, we had available borrowing capacity of $3.7 billion, $2.0 billion at the Federal Reserve and $1.7 billion at the FHLB of Pittsburgh. In 2024, we strengthened our contingency funding position by shifting loan collateral from the FHLB of Pittsburgh to the Federal Reserve. We believe that these funding sources will provide adequate resources to fund our short-term and long-term operating and financing needs. In addition, our ability to access capital markets provides additional sources of funding with respect to strategic investing opportunities. Our access to and the availability of funds in the future will be affected by many factors, including, but not limited to our financial condition and prospects, the liquidity of the overall capital markets and the current state of the economy.

In the normal course of business, we enter into various contractual obligations, which require future payments that could impact our liquidity and capital resources. We also utilize interest rate swaps to add stability and manage exposure to interest rate movements, under which we are required to either receive cash from, or pay cash to, counterparties depending on changes in interest rates. Derivative contracts are carried at fair value representing the net present value of expected future cash receipts or payments based on market rates as of the balance sheet date. 

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Table of ContentsS&T BANCORP, INC. AND SUBSIDIARIESItem 7.  MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following table summarizes our material contractual obligations as of December 31, 2024:

Payments Due In(dollars in thousands)20252026-20272028-2029Later YearsTotalCertificates of deposit(1)1,745,518