Company: STBA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000719220-25-000028
Chunk: 85

Company: S&T BANCORP INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 85
---
 %Short-term borrowings117,722 1,344 4.63 %408,351 5,460 5.37 %Long-term borrowings50,886 477 3.80 %39,221 442 4.53 %Junior subordinated debt securities49,423 874 7.17 %49,364 1,010 8.23 %Total Borrowings218,031 2,695 5.01 %496,936 6,912 5.59 %Other interest-bearing liabilities43,926 476 4.40 %52,239 703 5.42 %Total Interest-bearing Liabilities5,875,088 41,525 2.87 %5,876,805 44,276 3.03 %Noninterest-bearing liabilities2,350,574 2,371,586 Shareholders' equity1,400,999 1,290,514 Total Liabilities and Shareholders' Equity$9,626,661 $9,538,905 Net Interest Income (FTE) (non-GAAP)(1)(2)$83,940 $84,169 Net Interest Margin (FTE) (non-GAAP)(1)(2)3.81 %3.84 %

(1) Tax-exempt interest income is on an FTE basis (non-GAAP) using the statutory federal corporate income tax rate of 21 percent.

(2) Taxable investment income is adjusted for the dividend-received deduction for equity securities.

(3) Nonaccruing loans are included in the daily average loan amounts outstanding.

Net interest income on an FTE basis (non-GAAP) decreased $0.2 million for the three months ended March 31, 2025 compared to the same period in 2024. The net interest margin, or NIM, on an FTE basis (non-GAAP) decreased 3 basis points to 3.81 percent for the three months ended March 31, 2025 compared to 3.84 percent in the same period in 2024. The decreases in net interest income and NIM on an FTE basis (non-GAAP) were primarily due to decreased interest rates resulting in lower interest income partially offset by lower interest expense driven by an improvement in our overall funding mix. Strong customer deposit growth in 2024 and 2025 has reduced our