Company: STBA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000719220-25-000028
Chunk: 31

Company: S&T BANCORP INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 31
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$1,230 $40 $3,778 $23,328 March 31, 2024(dollars in thousands)Current30-59 Days Past Due60-89 Days Past Due90+ Days Past DueTotalCommercial real estate$8,579 $— $— $— $8,579 Commercial and industrial— 2,105 7,998 — 10,103 Business banking115 — — — 115 Total$8,694 $2,105 $7,998 $— $18,797 A payment default is defined as a loan having a payment past due 90 days or more. There was one payment default in the amount of $3.8 million during the three months ended March 31, 2025 compared to none in the same period in 2024. The payment default during the three months ended March 31, 2025 was related to a term extension for a C&I relationship. Additionally, we had 10 commitments to lend an additional $0.5 million to borrowers experiencing financial difficulty that had a modification during the twelve months ended March 31, 2025 and three commitments to lend an additional $0.5 million to borrowers experiencing financial difficulty that had a modification during the same period in 2024.The effect of modifications made to borrowers experiencing financial difficulty is already included in the allowance for credit losses, or ACL, because of the measurement methodologies used to estimate the ACL, therefore, a change to the ACL is generally not recorded upon modification. If principal forgiveness is provided, that portion of the loan will be charged-off, resulting in a reduction of the amortized cost basis and a corresponding adjustment to the ACL. An assessment of whether the borrower is experiencing financial difficulty is made on the date of a modification.

The following table is a summary of nonperforming assets as of the dates presented:Nonperforming Assets(dollars in thousands)March 31, 2025December 31, 2024Nonperforming AssetsNonaccrual Loans$22,339 $27,937 OREO29 8 Total Nonperforming Assets$22,368 $27,945 

Allowance for Credit LossesWe maintain an ACL, at a level determined to be adequate to absorb estimated expected credit losses within the loan portfolio over the contractual life of an instrument that considers our historical loss experience, current conditions and forecasts of future