Company: STBA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000719220-25-000053
Chunk: 100

Company: S&T BANCORP INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 100
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$1,224 Obligations of U.S. government corporations and agencies10,163 15,071 (4,908)Collateralized mortgage obligations of U.S. government corporations and agencies648,306 596,284 52,022 Residential mortgage-backed securities of U.S. government corporations and agencies32,569 33,207 (638)Commercial mortgage-backed securities of U.S. government corporations and agencies230,030 224,798 5,232 Obligations of states and political subdivisions4,959 24,287 (19,328)Available-for-Sale Debt Securities1,020,019 986,415 33,604 Equity securities1,164 1,176 (12)Total Securities Available for Sale$1,021,183 $987,591 $33,592 

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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

We invest in various securities in order to maintain a source of liquidity, to satisfy various pledging requirements, to increase net interest income and as a tool of ALCO to reposition the balance sheet for interest rate risk purposes. Securities are subject to market risks that could negatively affect the level of liquidity available to us. 

The securities portfolio increased $33.6 million to $1.0 billion at June 30, 2025 compared to December 31, 2024. The increase in the debt securities portfolio was primarily related to an improvement in unrealized losses of $25.6 million at June 30, 2025 compared to December 31, 2024 as a result of lower interest rates. Additionally, we had $2.3 million of realized losses due to the repositioning of $49.3 million of our securities portfolio into longer duration, higher-yielding securities during the three months ended March 31, 2025.

Our debt securities portfolio was in a net unrealized loss position of $46.1 million at June 30, 2025 compared to a net unrealized loss position of $71.7 million at December 31, 2024. At June 30, 2025, our debt securities portfolio had gross unrealized losses of $51.7 million offset by $5.6 million of gross unrealized gains compared to gross unrealized losses of $