Company: STBA
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000719220-25-000091
Chunk: 99

Company: S&T BANCORP INC
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 99
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Securities increased $13.6 million to $1.0 billion at September 30, 2025 compared to December 31, 2024 mainly due to a decrease in unrealized losses. The securities portfolio was in a net unrealized loss position of $38.8 million at September 30, 2025 compared to a net unrealized loss position of $71.7 million at December 31, 2024. The improvement in the net unrealized loss position of the securities portfolio of $32.9 million was primarily due to a decline in interest rates from December 31, 2024.

Total deposits increased $138.8 million to $7.9 billion at September 30, 2025 compared to $7.8 billion at December 31, 2024 as a result of our continued focus on growing our deposit franchise. Customer deposits increased $163.6 million to $7.7 billion at September 30, 2025 compared to $7.6 billion at December 31, 2024. Brokered deposits decreased $24.8 million to $200.5 million at September 30, 2025 compared to $225.3 million at December 31, 2024. 

Total borrowings decreased $15.0 million to $235.3 million at September 30, 2025 compared to $250.3 million at December 31, 2024.

Total shareholders’ equity increased by $95.2 million to $1.5 billion at September 30, 2025 compared to December 31, 2024. The increase was primarily due to net income of $100.3 million and other comprehensive income of $31.8 million offset by dividends of $39.3 million. The increase in other comprehensive income is primarily due to improvement in the net unrealized loss position of the securities portfolio of $32.9 million which is related to a decline in interest rates from December 31, 2024.

Securities Activity

(dollars in thousands)September 30, 2025December 31, 2024$ ChangeU.S. Treasury securities$94,262 $92,768 $1,494 Obligations of U.S. government corporations and agencies— 15,071 (15,071)Collateralized mortgage obligations of U.S. government corporations and agencies637,536 596,284 41,252 Residential mortgage-backed securities of U.S. government