Company: STBA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000719220-25-000053
Chunk: 42

Company: S&T BANCORP INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 42
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 to interest income. Our current interest rate swap agreements have three to five year terms with maturity dates extending into 2027.The following table indicates the gain recognized in income on derivatives not designated as hedging instruments for the periods presented:Three Months Ended June 30,Six Months Ended June 30,(dollars in thousands)2025202420252024Derivatives not Designated as Hedging InstrumentsInterest rate swap contracts—commercial loans$46 $48 $94 $82 Total Derivatives Gain$46 $48 $94 $82 

NOTE 7. TAX CREDIT EQUITY INVESTMENTS

As part of our responsibilities under the Community Reinvestment Act and due to their favorable federal income tax benefits, we invest in low-income-housing tax credit, or LIHTC, and historic tax credit, or HTC, partnerships. As a limited partner in these operating partnerships, we receive tax credits and tax deductions for losses incurred by the underlying properties. No impairment losses were recognized for the three and six months ended June 30, 2025 and June 30, 2024. The following table presents the balances included in the Consolidated Balance Sheets as of the dates presented:

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Table of ContentsS&T BANCORP, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(dollars in thousands)June 30, 2025December 31, 2024Tax credit equity investment(1)$38,115 $40,577 Unfunded commitments(2)4,241 5,887 (1) Included in other assets in the Consolidated Balance Sheets(2) Included in other liabilities in the Consolidated Balance SheetsThe following table summarizes the amortization expense and tax credits included in income tax expense in the Condensed Consolidated Statements of Comprehensive Income for the periods presented:Three Months Ended June 30,(dollars in thousands)20252024Tax credits and other tax benefits recognized$1,388 $906 Amortization1,231 767 Net benefit included in income tax expense$157 $139 Six Months Ended June 30,(dollars in thousands)20252024Tax credits and other tax benefits recognized$2,776 $1,812 Amortization2,462 1,535 Net benefit included in income tax expense$314 $277 

NOTE 8. COMMITMENTS AND CONTINGENCIES

Commitments