Company: STBA
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000719220-25-000013
Chunk: 98

Company: S&T BANCORP INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 98
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 more outstanding at December 31, 2024 are summarized as follows:

(dollars in thousands)2024Three months or less$239,924 Over three through six months128,980 Over six through twelve months88,729 Over twelve months21,611 Total$479,244 

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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

Borrowings

Borrowings are an additional source of funding for us. Short-term borrowings are for terms under or equal to one year at December 31, 2024 and are comprised of FHLB Advances. Long-term borrowings are for original terms greater than one year and are comprised of FHLB advances and finance leases. Total borrowings decreased $253.3 million to $250.3 million at December 31, 2024 compared to $503.6 million at December 31, 2023, primarily due to strong growth in customer deposits.

(dollars in thousands)December 31, 2024December 31, 2023$ ChangeShort-term borrowings$150,000 $415,000 $(265,000)Long-term borrowings50,896 39,277 11,619 Junior subordinated debt securities49,418 49,358 60 Total Borrowings$250,314 $503,635 $(253,321)

Information pertaining to short-term borrowings is summarized in the table below for the years ended December 31, 2024 and December 31, 2023.

Short-Term Borrowings(dollars in thousands)December 31, 2024December 31, 2023Balance at the period end$150,000 $415,000 Average balance during the period$257,524 $500,421 Average interest rate during the period5.12 %5.44 %Maximum month-end balance during the period$465,000 $630,000 Average interest rate at the period end4.60 %5.65 %

Information pertaining to long-term borrowings and junior subordinated debt securities is summarized in the tables below for the years ended December 31, 2024 and December 31, 2023.

Long-Term Borrowings(dollars in thousands)December 31,