Company: STBA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000719220-25-000053
Chunk: 64

Company: S&T BANCORP INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 64
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 a reduction in brokered deposits. Total deposits increased $137.8 million to $7.9 billion at June 30, 2025 compared to $7.8 billion at December 31, 2024. Customer deposits increased $162.6 million to $7.7 billion at June 30, 2025 compared to $7.6 billion at December 31, 2024. Brokered deposits decreased $24.8 million to $200.5 million at June 30, 2025 compared to $225.3 million at December 31, 2024. The increase in customer deposits is the result of our continued focus on growing our deposit franchise.

Total borrowings remained unchanged at $250.3 million for June 30, 2025 and December 31, 2024.

Total shareholders’ equity increased by $65.2 million to $1.4 billion at June 30, 2025 compared to December 31, 2024. The increase was primarily due to net income of $65.3 million and other comprehensive income of $24.6 million offset by dividends of $26.2 million.

Securities Activity

(dollars in thousands)June 30, 2025December 31, 2024$ ChangeU.S. Treasury securities$93,992 $92,768 $1,224 Obligations of U.S. government corporations and agencies10,163 15,071 (4,908)Collateralized mortgage obligations of U.S. government corporations and agencies648,306 596,284 52,022 Residential mortgage-backed securities of U.S. government corporations and agencies32,569 33,207 (638)Commercial mortgage-backed securities of U.S. government corporations and agencies230,030 224,798 5,232 Obligations of states and political subdivisions4,959 24,287 (19,328)Available-for-Sale Debt Securities1,020,019 986,415 33,604 Equity securities1,164 1,176 (12)Total Securities Available for Sale$1,021,183 $987,591 $33,592 

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Table of ContentsS&T BANCORP, INC. AND SUBSIDIARIESItem 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

We invest in various securities in order to maintain