Company: STBA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000719220-25-000028
Chunk: 66

Company: S&T BANCORP INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 66
---
565 7,557,852 134,713 Brokered DepositsMoney market150,368 100,305 50,063 Certificates of deposit50,000 124,960 (74,960)Total Brokered Deposits200,368 225,265 (24,897)Total Deposits$7,892,933 $7,783,117 $109,816 

 Total deposits increased $109.8 million, or 1.4 percent, at March 31, 2025 compared to December 31, 2024. Customer deposits increased $134.7 million, or 1.8 percent compared to December 31, 2024, as a result of our focus on growing our deposit franchise. Total brokered deposits decreased $24.9 million from December 31, 2024 due to strong growth in customer deposits. Brokered deposits are an additional source of funds utilized by ALCO as a way to diversify funding sources, as well as manage our funding costs and structure.

As a member of the IntraFi network, we are able to offer our customers insurance coverage on interest-bearing demand, money market and certificates of deposit balances in excess of the FDIC insurance limits. IntraFi balances were $316.3 million at March 31, 2025 compared to $324.8 million at December 31, 2024. 

We had total uninsured deposits of $2.7 billion, or 33.9 percent of our total deposit base, at March 31, 2025 compared to $2.6 billion, or 33.5 percent of our total deposit base, at December 31, 2024.

Borrowings

Borrowings are an additional source of funding for us. Short-term borrowings are for terms under or equal to one year at March 31, 2025 and are comprised of FHLB Advances. Long-term borrowings are for original terms greater than one year and are comprised of FHLB advances and finance leases. Total borrowings decreased $55.0 million to $195.3 million at March 31, 2025 compared to $250.3 million at December 31, 2024 primarily due to strong growth in customer deposits.

(dollars in thousands)March 31, 2025December 31, 2024$ ChangeShort-term borrowings$95,000 $150,000 $(55,000)