Company: STBA
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000719220-25-000091
Chunk: 100

Company: S&T BANCORP INC
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 100
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 corporations and agencies31,856 33,207 (1,351)Commercial mortgage-backed securities of U.S. government corporations and agencies231,233 224,798 6,435 Obligations of states and political subdivisions4,943 24,287 (19,344)Available-for-Sale Debt Securities999,830 986,415 13,415 Equity securities1,319 1,176 143 Total Securities Available for Sale$1,001,149 $987,591 $13,558 

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 $13.6 million to $1.0 billion at September 30, 2025 compared to December 31, 2024. The increase in the debt securities portfolio was primarily related to an improvement in unrealized losses of $32.9 million at September 30, 2025 compared to December 31, 2024 as a result of lower interest rates. Additionally, we had $2.3 million million of realized losses due to the repositioning of $49.3 million of our securities portfolio into longer duration, higher-yielding securities during the nine months ended September 30, 2025.

Our debt 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. At September 30, 2025, our debt securities portfolio had gross unrealized losses of $46.1 million offset by $7.3 million of gross unrealized gains compared to gross unrealized losses of $72.7 million offset by gross unrealized gains of $1.0 million at December 31, 2024.

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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

Loan Composition

The following table summarizes our loan portfolio as of the dates presented:September 30, 2025December 31, 2024(dollars in thousands)Amount% of Total