S&T BANCORP INC
For the period ended Jun 30, 2024. Filed Aug 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 1, 2024
STBA$51.41+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Comprehensive Income
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| (dollars in thousands, except per share data) | 2024 | 2023 | 2024 | 2023 |
| INTEREST AND DIVIDEND INCOME | ||||
| Loans, including fees | $119,564 | $108,699 | $238,141 | $211,423 |
| Investment Securities: | ||||
| Taxable | 8,761 | 7,806 | 17,356 | 15,263 |
| Tax-exempt | 168 | 215 | 361 | 429 |
| Dividends | 272 | 613 | 661 | 1,121 |
| Total Interest and Dividend Income | 128,765 | 117,333 | 256,519 | 228,236 |
| INTEREST EXPENSE | ||||
| Deposits | 39,629 | 20,102 | 76,291 | 35,005 |
| Borrowings, junior subordinated debt securities and other | 5,542 | 9,108 | 13,157 | 16,317 |
| Total Interest Expense | 45,171 | 29,210 | 89,448 | 51,322 |
| NET INTEREST INCOME | 83,594 | 88,123 | 167,071 | 176,914 |
| Provision for credit losses | 422 | 10,529 | 3,049 | 11,451 |
| Net Interest Income After Provision for Credit Losses | 83,172 | 77,594 | 164,022 | 165,463 |
| NONINTEREST INCOME | ||||
| Net loss on sale of securities | (3,150) | — | (3,147) | — |
| Debit and credit card | 4,713 | 4,645 | 8,948 | 9,018 |
| Service charges on deposit accounts | 4,089 | 3,928 | 7,917 | 8,004 |
| Wealth management | 2,995 | 3,185 | 6,037 | 6,133 |
| Mortgage banking | 254 | 289 | 531 | 590 |
| Other | 4,404 | 2,144 | 5,849 | 3,636 |
| Total Noninterest Income | 13,305 | 14,191 | 26,135 | 27,381 |
| NONINTEREST EXPENSE | ||||
| Salaries and employee benefits | 30,388 | 25,391 | 59,900 | 52,992 |
| Data processing and information technology | 4,215 | 4,177 | 9,169 | 8,435 |
| Occupancy | 3,649 | 3,710 | 7,519 | 7,545 |
| Furniture, equipment and software | 3,382 | 3,192 | 6,854 | 6,053 |
| Marketing | 1,404 | 1,459 | 3,347 | 3,312 |
| Other taxes | 1,433 | 1,322 | 3,304 | 3,112 |
| Professional services and legal | 1,403 | 2,069 | 3,123 | 3,890 |
| FDIC insurance | 1,053 | 1,032 | 2,102 | 2,044 |
| Other | 6,681 | 7,281 | 12,810 | 13,949 |
| Total Noninterest Expense | 53,608 | 49,633 | 108,128 | 101,332 |
| Income Before Taxes | 42,869 | 42,152 | 82,029 | 91,512 |
| Income tax expense | 8,498 | 7,685 | 16,419 | 17,246 |
| Net Income | $34,371 | $34,467 | $65,610 | $74,266 |
| Earnings per share—basic | $0.90 | $0.89 | $1.72 | $1.92 |
| Earnings per share—diluted | $0.89 | $0.89 | $1.70 | $1.91 |
| Dividends declared per share | $0.33 | $0.32 | $0.66 | $0.64 |
| Comprehensive Income | $38,134 | $17,082 | $62,576 | $72,348 |
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