S&T BANCORP INC

For the period ended Dec 31, 2024. Filed Mar 3, 2025.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 3, 2025

STBA$51.41+0.1%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

	Years Ended December 31,
(dollars in thousands)	2024	2023	2022
OPERATING ACTIVITIES
Net income	$131,265	$144,781	$135,520
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	133	17,892	8,366
Net depreciation, amortization and accretion	10,865	7,520	9,027
Net amortization of discounts and premiums on securities	2,837	4,666	6,062
Stock-based compensation expense	4,622	3,874	3,188
Loss (gain) on sale of securities	7,938	—	(198)
Deferred income taxes	(296)	601	(2,932)
Loss (gain) on sale of fixed assets	196	(100)	61
Gain on sale of loans, net	(69)	(81)	(1,229)
Loss (gain) on sale and fair value adjustments of other real estate owned, net	58	(3,898)	(3,119)
Proceeds from the sale of mortgage loans	4,552	3,839	38,583
Mortgage loans originated for sale	(4,330)	(3,895)	(35,848)
Net change in:
Net decrease (increase) in interest receivable	2,703	(7,094)	(10,033)
Net increase in interest payable	4,998	17,763	2,901
Net (increase) decrease in other assets	(1,732)	14,311	(24,628)
Net increase (decrease) in other liabilities	9,627	(28,430)	114,804
Net Cash Provided by Operating Activities	173,367	171,749	240,525
INVESTING ACTIVITIES
Purchases of securities	(313,552)	(99,583)	(401,054)
Proceeds from maturities, prepayments and calls of securities	159,606	147,710	160,830
Proceeds from sales of securities	136,401	—	30,490
Redemption (purchases) of Federal Home Loan Bank stock	9,851	(2,047)	(13,515)
Net increase in loans	(106,239)	(492,795)	(192,403)
Proceeds from sale of portfolio loans	8,923	11,641	8,024
Proceeds from sale of other real estate owned	131	7,051	12,529
Purchases of premises and equipment	(2,994)	(6,219)	(3,863)
Proceeds from the sale of premises and equipment	58	710	161
Proceeds from life insurance settlement	1,003	1,696	214
Net payments from cash flow hedge	(11,480)	(12,383)	(91)
Net Cash Used in Investing Activities	(118,292)	(444,219)	(398,678)
FINANCING ACTIVITIES
Net decrease in demand, money market and savings deposits	(23,963)	(345,260)	(623,076)
Net increase (decrease) in certificates of deposit	285,321	647,111	(153,400)
Net (decrease) increase in short-term borrowings	(265,000)	45,000	285,509
Proceeds from long-term borrowings	50,000	25,000	—
Repayments on long-term borrowings	(38,381)	(5,464)	(7,689)
Repurchase of shares for taxes on restricted stock	(870)	(798)	(808)
Cash dividends paid to common shareholders	(50,974)	(49,708)	(46,952)
Repurchase of common stock	—	(19,808)	(7,637)
Net Cash (Used in) Provided by Financing Activities	(43,867)	296,073	(554,053)
Net increase (decrease) in cash and due from banks	11,208	23,603	(712,206)
Cash and due from banks at beginning of period	233,612	210,009	922,215
Cash and Due From Banks at End of Period	$244,820	$233,612	$210,009
See Notes to Consolidated Financial Statements

	Years Ended December 31,
(dollars in thousands)	2024	2023	2022
Supplemental Disclosures
Right of use assets obtained in exchange for lease obligations	$604	$2,009	$—
Cash paid for interest	$176,068	$111,303	$22,068
Cash paid for income taxes, net of refunds	$29,730	$36,886	$31,175
Transfers of loans to other real estate owned	$122	$163	$23
See Notes to Consolidated Financial Statements

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