Company: STBA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000719220-25-000028
Chunk: 91

Company: S&T BANCORP INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 91
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 million at March 31, 2025 compared to $250.3 million at December 31, 2024 primarily due to strong growth in customer deposits.

Total shareholders’ equity increased by $37.7 million to $1.4 billion at March 31, 2025 compared to December 31, 2024. The increase was primarily due to net income of $33.4 million and other comprehensive income of $16.4 million offset by dividends of $13.1 million.

Securities Activity

(dollars in thousands)March 31, 2025December 31, 2024$ ChangeU.S. Treasury securities$93,605 $92,768 $837 Obligations of U.S. government corporations and agencies10,127 15,071 (4,944)Collateralized mortgage obligations of U.S. government corporations and agencies648,818 596,284 52,534 Residential mortgage-backed securities of U.S. government corporations and agencies33,143 33,207 (64)Commercial mortgage-backed securities of U.S. government corporations and agencies219,285 224,798 (5,513)Obligations of states and political subdivisions4,972 24,287 (19,315)Available-for-Sale Debt Securities1,009,950 986,415 23,535 Equity securities1,161 1,176 (15)Total Securities Available for Sale$1,011,111 $987,591 $23,520 

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 $23.5 million to $1.0 billion at March 31, 2025 compared to December 31, 2024. The increase in the debt securities portfolio was primarily related to an improvement in unrealized losses of $17.3 million from December 31, 2024 to March 31, 2025 as a result of lower interest rates. Additionally, we recognized $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