Company: STBA
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000719220-25-000013
Chunk: 68

Company: S&T BANCORP INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 68
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719 Average shareholders' equity$1,330,870 $1,227,332 $1,181,788 Less: average goodwill and other intangible assets, net of deferred tax liability(376,181)(377,157)(378,303)Average tangible shareholders' equity$954,689 $850,175 $803,485 Return on Average Tangible Shareholders' Equity (non-GAAP)13.84 %17.15 %17.02 %

Executive Overview

We are a bank holding company that is headquartered in Indiana, Pennsylvania with assets of $9.7 billion at December 31, 2024. We operate in Pennsylvania and Ohio providing a full range of financial services with retail and commercial banking products, cash management services, trust and brokerage services. Our common stock trades on the NASDAQ Global Select Market under the symbol “STBA.”

We earn revenue primarily from interest on loans and securities and fees charged for financial services provided to our customers. We incur expenses for the cost of deposits and other funding sources, provision for credit losses and other operating costs such as salaries and employee benefits, data processing, occupancy and tax expense.

Our purpose is building a better future together through people-forward banking. We believe that all banking should be personal. We cultivate relationships rooted in trust, strengthened by going above and beyond and renewed with every interaction. Our strategic priorities for 2025 and beyond will be focused on growing our deposit franchise, core profitability, asset quality and talent and engagement.

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Table of ContentsS&T BANCORP, INC. AND SUBSIDIARIESItem 7.  MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Earnings Summary

The following table presents a summary of key profitability metrics for the periods presented:

Years ended December 31,(dollars in thousands)202420232022Net income$131,265 $144,781 $135,520 Earnings per share - diluted$3.41 $3.74 $3.46 Return on average assets1.37 %1.56 %1.48 %Return on average shareholders' equity9.86 %11.80 %11.47 %Return on average tangible shareholders' equity (non-GAAP)(1)13.84 %17.15 %17.02 %(1) Reconciled to GAAP in the "Explanation of Use