Company: STBA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000719220-25-000053
Chunk: 48

Company: S&T BANCORP INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 48
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,448)Net Interest Income86,572 83,594 169,895 167,071 Plus: taxable equivalent adjustment590 682 1,208 1,375 Net Interest Income on an FTE Basis (Non-GAAP)$87,162 $84,276 $171,103 $168,446 Net interest margin3.85 %3.82 %3.82 %3.81 %Plus: taxable equivalent adjustment0.03 %0.03 %0.02 %0.03 %Net Interest Margin on an FTE Basis (Non-GAAP)3.88 %3.85 %3.84 %3.84 %

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

Return on average tangible shareholders' equity (non-GAAP) is a key profitability metric used by management to measure financial performance. The following table provides a reconciliation of return on average tangible shareholders' equity (non-GAAP) by reconciling net income (GAAP) per the Condensed Consolidated Statements of Comprehensive Income to net income before amortization of intangibles and average shareholder's equity to average tangible shareholders' equity for the periods presented:

Three Months Ended June 30,Six Months Ended June 30,(dollars in thousands)2025202420252024Net income (annualized)$127,951 $138,239 $131,684 $131,941 Plus: amortization of intangibles (annualized) net of tax653 921 712 932 Net income before amortization of intangibles (annualized)$128,604 $139,160 $132,396 $132,873 Average shareholders' equity$1,436,288 $1,303,270 $1,418,741 $1,296,892 Less: average goodwill and other intangible assets, net of deferred tax liability(375,572)(376,285)(375,656)(376,402)Average tangible shareholders' equity$1,060,716 $926,985 $1,043,085 $920,490 Return on Average Tangible Shareholders' Equity (non-GAAP)12.12 %15.01 %12.69 %14