Company: STBA
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000719220-25-000091
Chunk: 43

Company: S&T BANCORP INC
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 43
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971 $40,577 Unfunded commitments(2)3,751 5,887 (1) Included in other assets in the Consolidated Balance Sheets(2) Included in other liabilities in the Consolidated Balance SheetsThe following table summarizes the amortization expense and tax credits included in income tax expense in the Condensed Consolidated Statements of Comprehensive Income for the periods presented:Three Months Ended September 30,(dollars in thousands)20252024Tax credits and other tax benefits recognized$1,570 $1,686 Amortization1,144 1,404 Net benefit included in income tax expense$426 $282 Nine Months Ended September 30,(dollars in thousands)20252024Tax credits and other tax benefits recognized$4,346 $3,498 Amortization3,606 2,939 Net benefit included in income tax expense$740 $559 

NOTE 8. COMMITMENTS AND CONTINGENCIES

Commitments

In the normal course of business, we offer off-balance sheet credit arrangements to enable our customers to meet their financing objectives. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated financial statements. Our exposure to credit loss, in the event the customer does not satisfy the terms of the agreement, equals the contractual amount of the obligation less the value of any collateral. We apply the same credit policies in making commitments and standby letters of credit that are used for the underwriting of loans to customers. Commitments generally have fixed expiration dates, annual renewals or other termination clauses and may require payment of a fee. Because many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. 

The following table sets forth our commitments and letters of credit as of the dates presented:(dollars in thousands)September 30, 2025December 31, 2024Commitments to extend credit$2,575,005 $2,382,847 Standby letters of credit64,395 69,558 Total$2,639,400 $2,452,405 

LitigationIn the normal course of business, we are subject to various legal and administrative proceedings and claims. While any type of litigation contains a level of uncertainty, we believe that the outcome of such proceedings or claims pending will not have a material adverse effect on our consolidated financial position or results of operations.