S&T BANCORP INC
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
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FY2024 · Filed Mar 3, 2025
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Consolidated Statements of Comprehensive Income
| Years ended December 31, | |||
|---|---|---|---|
| (dollars in thousands) | 2024 | 2023 | 2022 |
| Net Income | $131,265 | $144,781 | $135,520 |
| Available-for-Sale Debt Securities | |||
| Net change in fair value of available-for-sale debt securities | 2,328 | 20,317 | (111,539) |
| Tax effect | (458) | (4,407) | 23,805 |
| Net available-for-sale securities losses (gains) reclassified into earnings(1) | 7,938 | — | (198) |
| Tax effect | (1,563) | — | 42 |
| Net effect on other comprehensive income | 8,245 | 15,910 | (87,890) |
| Interest Rate Swaps | |||
| Net change in fair value of interest rate swaps | (8,253) | (5,753) | (21,459) |
| Tax effect | 1,722 | 1,237 | 4,581 |
| Net interest rate swap losses reclassified into earnings(2) | 13,403 | 12,382 | 91 |
| Tax effect | (2,796) | (2,662) | (19) |
| Net effect on other comprehensive income | 4,076 | 5,204 | (16,806) |
| Employee Benefit Plans | |||
| Adjustment to funded status of employee benefit plans | 1,969 | 142 | (2,526) |
| Tax effect | (381) | (32) | 608 |
| Net employee benefit plan losses reclassified into earnings(3) | — | — | 2,080 |
| Tax effect | — | — | (501) |
| Net effect on other comprehensive income | 1,588 | 110 | (339) |
| Other Comprehensive Income (Loss) | 13,909 | 21,224 | (105,035) |
| Comprehensive Income | $145,174 | $166,005 | $30,485 |
(1)Reclassification adjustments are comprised of realized security gains or losses. The realized gains or losses have been recorded in net (loss) gain on sale of securities in the Consolidated Statements of Net Income.
(2)Reclassification adjustments have been recorded in loan interest income in the Consolidated Statements of Net Income.
(3)Reclassification adjustments are comprised of realized actuarial gains or losses and settlement charges. These gains or losses and settlement charges have been recorded in salaries and employee benefits in the Consolidated Statements of Net Income.
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