Company: STBA
Filing Date: 2025-03-31
Form Type: DEF 14A
Source: 0001193125-25-068253
Chunk: 43

Company: S&T BANCORP INC
Filing Date: 2025-03-31
Form: DEF 14A
Chunk 43
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for the year ended December 31, 2024, we are pleased to report:

| • |     | Net income of $131.3 million, or $3.41 per diluted share, was earned for the year ended December 31, 2024, compared to net income of $144.8 million, or $3.74 per diluted share, for 2023. S&T had record net income and EPS in 2023 related to the impact of rising interest rates on net interest income. |

| • |     | Return on average assets of 1.37 percent for 2024 compared to 1.56 percent for 2023. |

| • |     | Return on average shareholders’ equity of 9.86 percent for 2024 compared to 11.80 percent for 2023. |

| • |     | Total deposits increased $261.3 million compared to 2023. Customer deposit growth of $411.7 million, or 5.76%, was offset by lower brokered deposits of $150.4 million. |

| • |     | Improvement in asset quality drove a provision for credit losses of only $0.1 million compared to $17.9 million in 2023. |

| • |     | Nonperforming assets remained low at $27.9 million, or 0.36 percent of total loans plus OREO, at December 31, 2024 compared to 0.30 percent at December 31, 2023. |

| • |     | Dividends declared in 2024 increased $0.04 to $1.33 compared to $1.29 for 2023. |

Key 2024 Compensation Decisions For 2024, the Compensation Committee evaluated and approved the following adjustments and awards for our NEOs:

| • |     | Provided an increase in the base salaries for all named executive officers with an average increase of 2.15%. |

| • |     | Approved payouts under the 2024 Management Incentive Plan (“2024 MIP”) at 127% of the Corporate Component of the target for each NEO. |

| • |     | Granted annual long-term incentive awards under the terms of the 2024 Long-Term Incentive Plan (“2024 LTIP”), 50% of which vest based on continued employment and 50% of which vest based on continued employment and the achievement of pre-determined performance metrics. |

32| S&T