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Malaysian Reserve
25-04-2025
- Business
- Malaysian Reserve
S&T Bancorp, Inc. Announces First Quarter 2025 Results
INDIANA, Pa., April 24, 2025 /PRNewswire/ — S&T Bancorp, Inc. (S&T) (NASDAQ: STBA), the holding company for S&T Bank, announced net income of $33.4 million, or $0.87 per diluted share, for the first quarter of 2025 compared to net income of $33.1 million, or $0.86 per diluted share, for the fourth quarter of 2024 and net income of $31.2 million, or $0.81 per diluted share, for the first quarter of 2024. First Quarter of 2025 Highlights: Strong return metrics with return on average assets (ROA) of 1.41%, return on average equity (ROE) of 9.67% and return on average tangible equity (ROTE) (non-GAAP) of 13.29% compared to ROA of 1.37%, ROE of 9.57% and ROTE (non-GAAP) of 13.25% for the fourth quarter of 2024. Pre-provision net revenue to average assets (PPNR) (non-GAAP) was 1.73% compared to 1.72% for the fourth quarter of 2024. Net interest margin on a fully taxable equivalent basis (NIM) (FTE) (non-GAAP) increased 4 basis points to 3.81% compared to 3.77% in the fourth quarter of 2024. Total portfolio loans increased $93.4 million, or 4.89% annualized, compared to December 31, 2024. Total deposits increased $109.8 million, with customer deposit growth of $134.7 million, or 7.23% annualized, offset by a decrease in brokered deposits of $24.9 million compared to the fourth quarter of 2024. Asset quality remained solid with net recoveries and a negative $3.0 million provision for credit losses compared to a negative $2.5 million in the fourth quarter of 2024. Nonperforming assets decreased $5.5 million to $22.4 million, or 0.29% of total loans plus other real estate owned (OREO), compared to $27.9 million, or 0.36%, at December 31, 2024. 'We are pleased to report a strong first quarter driven by solid customer deposit and loan growth, an increase in net interest margin and excellent asset quality,' said Chief Executive Officer Chris McComish. 'As we navigate the current environment, our focus remains firmly in support of our customers while executing on our growth-oriented business drivers.' Net Interest Income Net interest income was $83.3 million in both the first quarter of 2025 and the fourth quarter of 2024. NIM (FTE) (non-GAAP) increased 4 basis points to 3.81% compared to 3.77% in the prior quarter. The yield on average total interest- earning assets decreased 8 basis points to 5.70% compared to 5.78% in the fourth quarter of 2024 due to lower interest rates. Total average interest-bearing liability costs decreased 16 basis points to 2.87% compared to 3.03% in the fourth quarter of 2024 due to lower deposit costs and a reduction in higher-cost borrowings. Total average borrowings decreased $56.8 million to $218.0 million in the first quarter of 2025 compared to $274.8 million in the fourth quarter of 2024. Asset Quality Asset quality remained solid for the first quarter of 2025. The allowance for credit losses, or ACL, was $99.0 million, or 1.26% of total portfolio loans at March 31, 2025 compared to $101.5 million, or 1.31%, at December 31, 2024. The 5 basis point decline in the ACL to total portfolio loans related to a $4.2 million decrease in specific reserves compared to the fourth quarter of 2024. The provision for credit losses was a negative $3.0 million for the first quarter of 2025 compared to a negative $2.5 million in the fourth quarter of 2024. Both the first quarter of 2025 and the fourth quarter of 2024 had net loan recoveries. Nonperforming assets to total portfolio loans plus OREO decreased 7 basis points to 0.29% at March 31, 2025 compared to 0.36% at December 31, 2024. Noninterest Income and Expense Noninterest income decreased $0.7 million to $10.4 million in the first quarter of 2025 compared to $11.1 million in the fourth quarter of 2024. Customer activity was seasonally slower in the first quarter of 2025 resulting in lower debit card fees and service charges on deposit accounts. During the first quarter of 2025, a $2.3 million realized loss was recognized related to the repositioning of securities into longer duration, higher-yielding securities compared to a similar $2.6 million realized securities loss in the fourth quarter of 2024. Total noninterest expenses remain consistent at $55.1 million compared to $55.4 million in the fourth quarter of 2024. Financial Condition Total assets were $9.7 billion at both March 31, 2025 and December 31, 2024. Total portfolio loans increased $93.4 million, or 4.89% annualized, compared to December 31, 2024. The commercial loan portfolio increased $81.6 million with growth in commercial real estate of $74.2 million and commercial construction of $27.3 million partially offset by a decrease in commercial and industrial of $19.9 million compared to December 31, 2024. The consumer loan portfolio increased $11.8 million compared to December 31, 2024. Total deposits increased $109.8 million, or 5.72% annualized, compared to December 31, 2024. Customer deposit growth continues to be strong allowing for a reduction in higher-cost borrowings and brokered deposits. Customer deposit growth was $134.7 million, or 7.23% annualized, which was offset by lower brokered deposits of $24.9 million. Total borrowings decreased $55.0 million to $195.3 million compared to $250.3 million at December 31, 2024. S&T continues to maintain a strong regulatory capital position with all capital ratios above the well-capitalized thresholds of federal bank regulatory agencies. Conference Call S&T will host its first quarter 2025 earnings conference call live via webcast at 1:00 p.m. ET on Thursday, April 24, 2025. To access the webcast, go to S&T Bancorp Inc.'s Investor Relations webpage After the live presentation, the webcast will be archived at for 12 months. About S&T Bancorp, Inc. and S&T Bank S&T Bancorp, Inc. is a $9.7 billion bank holding company that is headquartered in Indiana, Pennsylvania and trades on the NASDAQ Global Select Market under the symbol STBA. Its principal subsidiary, S&T Bank, was established in 1902 and operates in Pennsylvania and Ohio. For more information, visit or Follow us on Facebook, Instagram and LinkedIn. Forward-Looking Statements This information contains or incorporates statements that we believe are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to our financial condition, results of operations, plans, objectives, outlook for earnings, revenues, expenses, capital and liquidity levels and ratios, asset levels, asset quality, financial position and other matters regarding or affecting S&T and its future business and operations. Forward-looking statements are typically identified by words or phrases such as 'will likely result,' 'expect,' 'anticipate,' 'estimate,' 'forecast,' 'project,' 'intend,' 'believe,' 'assume,' 'strategy,' 'trend,' 'plan,' 'outlook,' 'outcome,' 'continue,' 'remain,' 'potential,' 'opportunity,' 'comfortable,' 'current,' 'position,' 'maintain,' 'sustain,' 'seek,' 'achieve' and variations of such words and similar expressions, or future or conditional verbs such as 'will,' 'would,' 'should,' 'could' or 'may.' Although we believe the assumptions upon which these forward-looking statements are based are reasonable, any of these assumptions could prove to be inaccurate and the forward-looking statements based on these assumptions could be incorrect. The matters discussed in these forward-looking statements are subject to various risks, uncertainties and other factors that could cause actual results and trends to differ materially from those made, projected or implied in or by the forward-looking statements depending on a variety of uncertainties or other factors including, but not limited to: credit losses and the credit risk of our commercial and consumer loan products; changes in the level of charge-offs and changes in estimates of the adequacy of the allowance for credit losses, or ACL; cybersecurity concerns; rapid technological developments and changes; operational risks or risk management failures by us or critical third parties, including fraud risk; our ability to manage our reputational risks; sensitivity to the interest rate environment, a rapid increase in interest rates or a change in the shape of the yield curve; a change in spreads on interest-earning assets and interest-bearing liabilities; regulatory supervision and oversight, including changes in regulatory capital requirements and our ability to address those requirements; unanticipated changes in our liquidity position; unanticipated changes in regulatory and governmental policies impacting interest rates and financial markets; changes in accounting policies, practices or guidance; legislation affecting the financial services industry as a whole, and S&T, in particular; developments affecting the industry and the soundness of financial institutions and further disruption to the economy and U.S. banking system; the outcome of pending and future litigation and governmental proceedings; increasing price and product/service competition; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; managing our internal growth and acquisitions; the possibility that the anticipated benefits from acquisitions cannot be fully realized in a timely manner or at all, or that integrating the acquired operations will be more difficult, disruptive or costly than anticipated; containing costs and expenses; reliance on significant customer relationships; an interruption or cessation of an important service by a third-party provider; our ability to attract and retain talented executives and other employees; general economic or business conditions, including the strength of regional economic conditions in our market area; ESG practices and disclosures, including climate change, hiring practices, the diversity of the work force and racial and social justice issues; deterioration of the housing market and reduced demand for mortgages; deterioration in the overall macroeconomic conditions or the state of the banking industry that could warrant further analysis of the carrying value of goodwill and could result in an adjustment to its carrying value resulting in a non-cash charge to net income; the stability of our core deposit base and access to contingency funding; re-emergence of turbulence in significant portions of the global financial and real estate markets that could impact our performance, both directly, by affecting our revenues and the value of our assets and liabilities, and indirectly, by affecting the economy generally and access to capital in the amounts, at the times and on the terms required to support our future businesses and geopolitical tensions and conflicts between nations. Many of these factors, as well as other factors, are described in our Annual Report on Form 10-K for the year ended December 31, 2024, including Part I, Item 1A-'Risk Factors' and any of our subsequent filings with the SEC. Forward-looking statements are based on beliefs and assumptions using information available at the time the statements are made. We caution you not to unduly rely on forward-looking statements because the assumptions, beliefs, expectations and projections about future events may, and often do, differ materially from actual results. Any forward-looking statement speaks only as to the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect developments occurring after the statement is made. Non-GAAP Financial Measures In addition to traditional measures presented in accordance with GAAP, our management uses, and this information contains or references, certain non-GAAP financial measures, such as tangible book value, return on average tangible shareholder's equity, PPNR to average assets, efficiency ratio, tangible common equity to tangible assets and net interest margin on an FTE basis. We believe these non-GAAP financial measures provide information useful to investors in understanding our underlying operational performance and our business and performance trends as they facilitate comparisons with the performance of other companies in the financial services industry. Although we believe that these non-GAAP financial measures enhance investors' understanding of our business and performance, these non-GAAP financial measures should not be considered alternatives to GAAP or considered to be more important than financial results determined in accordance with GAAP, nor are they necessarily comparable with non-GAAP measures which may be presented by other companies. See Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures for more information related to these financial measures. S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited 2025 2024 2024 First Fourth First (dollars in thousands, except per share data) Quarter Quarter Quarter INTEREST AND DIVIDEND INCOME Loans, including fees $114,340 $117,334 $118,577 Investment Securities: Taxable 10,073 10,167 8,595 Tax-exempt 157 164 193 Dividends 278 214 389 Total Interest and Dividend Income 124,848 127,879 127,754 INTEREST EXPENSE Deposits 38,354 40,627 36,662 Borrowings, junior subordinated debt securities and other 3,171 3,994 7,615 Total Interest Expense 41,525 44,621 44,277 NET INTEREST INCOME 83,323 83,258 83,477 Provision for credit losses (3,040) (2,462) 2,627 Net Interest Income After Provision for Credit Losses 86,363 85,720 80,850 NONINTEREST INCOME (Loss) gain on sale of securities (2,295) (2,592) 3 Debit and credit card 4,188 4,627 4,235 Service charges on deposit accounts 3,962 4,175 3,828 Wealth management 3,084 3,151 3,042 Other 1,490 1,710 1,722 Total Noninterest Income 10,429 11,071 12,830 NONINTEREST EXPENSE Salaries and employee benefits 29,853 30,816 29,512 Data processing and information technology 4,930 5,338 4,954 Occupancy 4,302 3,755 3,870 Furniture, equipment and software 3,483 3,295 3,472 Marketing 1,615 1,622 1,943 Other taxes 1,494 2,274 1,871 Professional services and legal 1,286 1,116 1,720 FDIC insurance 1,040 1,045 1,049 Other noninterest expense 7,088 6,184 6,129 Total Noninterest Expense 55,091 55,445 54,520 Income Before Taxes 41,701 41,346 39,160 Income tax expense 8,300 8,281 7,921 Net Income $33,401 $33,065 $31,239 Per Share Data Shares outstanding at end of period 38,261,299 38,259,449 38,233,280 Average shares outstanding – diluted 38,599,656 38,570,784 38,418,085 Diluted earnings per share $0.87 $0.86 $0.81 Dividends declared per share $0.34 $0.34 $0.33 Dividend yield (annualized) 3.67 % 3.56 % 4.11 % Dividends paid to net income 38.97 % 39.36 % 40.39 % Book value $37.06 $36.08 $33.87 Tangible book value (1) $27.24 $26.25 $24.03 Market value $37.05 $38.22 $32.08 Profitability Ratios (Annualized) Return on average assets 1.41 % 1.37 % 1.32 % Return on average shareholders' equity 9.67 % 9.57 % 9.74 % Return on average tangible shareholders' equity(2) 13.29 % 13.25 % 13.85 % Pre-provision net revenue / average assets(3) 1.73 % 1.72 % 1.76 % Efficiency ratio (FTE)(4) 56.99 % 56.93 % 56.21 % S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited 2025 2024 2024 First Fourth First (dollars in thousands) Quarter Quarter Quarter ASSETS Cash and due from banks $211,836 $244,820 $207,462 Securities available for sale, at fair value 1,011,111 987,591 970,728 Commercial loans: Commercial real estate 3,462,246 3,388,017 3,367,722 Commercial and industrial 1,520,475 1,540,397 1,597,119 Commercial construction 380,129 352,886 360,086 Total Commercial Loans 5,362,850 5,281,300 5,324,927 Consumer loans: Residential mortgage 1,670,750 1,649,639 1,500,499 Home equity 660,594 653,756 645,780 Installment and other consumer 98,165 104,757 108,232 Consumer construction 43,990 53,506 76,596 Total Consumer Loans 2,473,499 2,461,658 2,331,107 Total Portfolio Loans 7,836,349 7,742,958 7,656,034 Allowance for credit losses (99,010) (101,494) (104,802) Total Portfolio Loans, Net 7,737,339 7,641,464 7,551,232 Federal Home Loan Bank and other restricted stock, at cost 13,445 15,231 13,703 Goodwill 373,424 373,424 373,424 Other Intangible assets, net 2,813 3,055 3,762 Other assets 368,308 392,387 418,792 Total Assets $9,718,276 $9,657,972 $9,539,103 LIABILITIES Deposits: Noninterest-bearing demand $2,164,491 $2,185,242 $2,188,927 Interest-bearing demand 809,722 812,768 848,729 Money market 2,210,081 2,040,285 1,882,157 Savings 886,007 877,859 936,056 Certificates of deposit 1,822,632 1,866,963 1,744,478 Total Deposits 7,892,933 7,783,117 7,600,347 Borrowings: Short-term borrowings 95,000 150,000 285,000 Long-term borrowings 50,876 50,896 39,156 Junior subordinated debt securities 49,433 49,418 49,373 Total Borrowings 195,309 250,314 373,529 Other liabilities 212,000 244,247 270,153 Total Liabilities 8,300,242 8,277,678 8,244,029 SHAREHOLDERS' EQUITY Total Shareholders' Equity 1,418,034 1,380,294 1,295,074 Total Liabilities and Shareholders' Equity $9,718,276 $9,657,972 $9,539,103 Capitalization Ratios Shareholders' equity / assets 14.59 % 14.29 % 13.58 % Tangible common equity / tangible assets(5) 11.16 % 10.82 % 10.03 % Tier 1 leverage ratio 12.09 % 11.98 % 11.30 % Common equity tier 1 capital 14.67 % 14.58 % 13.59 % Risk-based capital – tier 1 14.99 % 14.90 % 13.91 % Risk-based capital – total 16.57 % 16.49 % 15.49 % S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited 2025 2024 2024 First Fourth First (dollars in thousands) Quarter Quarter Quarter Net Interest Margin (FTE) (QTD Averages) ASSETS Interest-bearing deposits with banks $128,739 4.46 % $172,179 4.85 % $144,637 5.75 % Securities, at fair value 990,414 3.59 % 992,653 3.34 % 966,703 2.81 % Loans held for sale — 0.00 % 117 6.61 % 176 7.12 % Commercial real estate 3,395,599 5.82 % 3,328,052 5.83 % 3,365,142 5.92 % Commercial and industrial 1,535,235 6.69 % 1,538,983 6.92 % 1,626,633 7.36 % Commercial construction 374,881 6.95 % 368,566 7.99 % 365,088 7.70 % Total Commercial Loans 5,305,715 6.15 % 5,235,601 6.30 % 5,356,863 6.48 % Residential mortgage 1,660,177 5.21 % 1,635,313 5.14 % 1,478,609 4.93 % Home equity 653,113 6.30 % 649,152 6.66 % 648,265 6.99 % Installment and other consumer 99,402 7.97 % 105,478 8.18 % 110,899 8.64 % Consumer construction 45,157 6.86 % 56,165 6.70 % 69,676 5.60 % Total Consumer Loans 2,457,849 5.64 % 2,446,108 5.71 % 2,307,449 5.71 % Total Portfolio Loans 7,763,564 5.99 % 7,681,709 6.11 % 7,664,312 6.25 % Total Loans 7,763,564 5.99 % 7,681,826 6.11 % 7,664,488 6.25 % Total other earning assets 16,768 6.74 % 13,680 6.59 % 25,335 7.12 % Total Interest-earning Assets 8,899,485 5.70 % 8,860,338 5.78 % 8,801,163 5.86 % Noninterest-earning assets 727,176 711,374 737,742 Total Assets $9,626,661 $9,571,712 $9,538,905 LIABILITIES AND SHAREHOLDERS' EQUITY Interest-bearing demand $779,309 1.00 % $780,396 1.03 % $829,095 1.12 % Money market 2,088,346 2.97 % 2,060,103 3.17 % 1,920,009 3.15 % Savings 884,636 0.66 % 874,699 0.70 % 939,467 0.63 % Certificates of deposit 1,860,840 4.29 % 1,818,755 4.52 % 1,639,059 4.37 % Total Interest-bearing Deposits 5,613,131 2.77 % 5,533,953 2.92 % 5,327,630 2.77 % Short-term borrowings 117,722 4.63 % 159,011 4.84 % 408,351 5.37 % Long-term borrowings 50,886 3.80 % 66,364 3.76 % 39,221 4.53 % Junior subordinated debt securities 49,423 7.17 % 49,408 7.69 % 49,364 8.23 % Total Borrowings 218,031 5.01 % 274,783 5.09 % 496,936 5.59 % Total Other Interest-bearing Liabilities 43,926 4.40 % 40,055 4.71 % 52,239 5.42 % Total Interest-bearing Liabilities 5,875,088 2.87 % 5,848,791 3.03 % 5,876,805 3.03 % Noninterest-bearing liabilities 2,350,574 2,348,014 2,371,586 Shareholders' equity 1,400,999 1,374,907 1,290,514 Total Liabilities and Shareholders' Equity $9,626,661 $9,571,712 $9,538,905 Net Interest Margin(6) 3.81 % 3.77 % 3.84 % S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited 2025 2024 2024 First Fourth First (dollars in thousands) Quarter Quarter Quarter Nonaccrual Loans Commercial loans: % Loans % Loans % Loans Commercial real estate $3,441 0.10 % $4,173 0.12 % $18,082 0.54 % Commercial and industrial 6,749 0.44 % 12,570 0.82 % 3,092 0.19 % Commercial construction 1,006 0.26 % — — % 4,960 1.38 % Total Nonaccrual Commercial Loans 11,196 0.21 % 16,743 0.32 % 26,134 0.49 % Consumer loans: Residential mortgage 6,957 0.42 % 7,628 0.46 % 4,160 0.28 % Home equity 3,968 0.60 % 3,336 0.51 % 2,709 0.42 % Installment and other consumer 218 0.22 % 230 0.22 % 206 0.19 % Total Nonaccrual Consumer Loans 11,143 0.45 % 11,194 0.45 % 7,075 0.30 % Total Nonaccrual Loans $22,339 0.29 % $27,937 0.36 % $33,209 0.43 % 2025 2024 2024 First Fourth First (dollars in thousands) Quarter Quarter Quarter Loan (Recoveries) Charge-offs Charge-offs $884 $1,964 $6,939 Recoveries (911) (2,022) (350) Net Loan (Recoveries) Charge-offs ($27) ($58) $6,589 Net Loan (Recoveries) Charge-offs Commercial loans: Commercial real estate ($146) ($1,359) $5,238 Commercial and industrial 154 1,139 950 Commercial construction 30 — — Total Commercial Loan Charge-offs (Recoveries) 38 (220) 6,188 Consumer loans: Residential mortgage 13 10 7 Home equity 19 114 105 Installment and other consumer (97) 38 289 Total Consumer Loan (Recoveries) Charge-offs (65) 162 401 Total Net Loan (Recoveries) Charge-offs ($27) ($58) $6,589 2025 2024 2024 First Fourth First (dollars in thousands) Quarter Quarter Quarter Asset Quality Data Nonaccrual loans $22,339 $27,937 $33,209 OREO 29 8 140 Total nonperforming assets 22,368 27,945 33,349 Nonaccrual loans / total loans 0.29 % 0.36 % 0.43 % Nonperforming assets / total loans plus OREO 0.29 % 0.36 % 0.44 % Allowance for credit losses / total portfolio loans 1.26 % 1.31 % 1.37 % Allowance for credit losses / nonaccrual loans 443 % 363 % 316 % Net loan (recoveries) charge-offs ($27) ($58) $6,589 Net loan (recoveries) charge-offs (annualized) / average loans (0.00 %) (0.00 %) 0.35 % S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures: 2025 2024 2024 First Fourth First (dollars in thousands, except per share data) Quarter Quarter Quarter (1) Tangible Book Value (non-GAAP) Total shareholders' equity $1,418,034 $1,380,294 $1,295,074 Less: goodwill and other intangible assets, net of deferred tax liability (375,646) (375,837) (376,396) Tangible common equity (non-GAAP) $1,042,388 $1,004,457 $918,678 Common shares outstanding 38,261,299 38,259,449 38,233,280 Tangible book value (non-GAAP) $27.24 $26.25 $24.03 Tangible book value is a preferred industry metric used to measure our company's value and commonly used by investors and analysts. (2) Return on Average Tangible Shareholders' Equity (non-GAAP) Net income (annualized) $135,460 $131,541 $125,643 Plus: amortization of intangibles (annualized), net of tax 772 858 944 Net income before amortization of intangibles (annualized) $136,232 $132,399 $126,587 Average total shareholders' equity $1,400,999 $1,374,907 $1,290,514 Less: average goodwill and other intangible assets, net of deferred tax liability (375,741) (375,879) (376,518) Average tangible equity (non-GAAP) $1,025,258 $999,028 $913,996 Return on average tangible shareholders' equity (non-GAAP) 13.29 % 13.25 % 13.85 % Return on average tangible shareholders' equity is a key profitability metric used by management to measure financial performance. (3) Pre-provision Net Revenue / Average Assets (non-GAAP) Income before taxes $41,701 $41,346 $39,160 Plus: net loss (gain) on sale of securities 2,295 2,592 (3) Less: gain on Visa Class B-1 exchange — (186) — Plus: Provision for credit losses (3,040) (2,462) 2,627 Total $40,956 $41,290 $41,784 Total (annualized) (non-GAAP) $166,099 $164,262 $168,054 Average assets $9,626,661 $9,571,712 $9,538,905 Pre-provision Net Revenue / Average Assets (non-GAAP) 1.73 % 1.72 % 1.76 % Pre-provision net revenue to average assets is income before taxes adjusted to exclude provision for credit losses, losses (gains) on sale of securities and gain on Visa exchange. We believe this to be a preferred industry measurement to help evaluate our ability to fund credit losses or build capital. (4) Efficiency Ratio (non-GAAP) Noninterest expense $55,091 $55,445 $54,520 Net interest income per consolidated statements of net income $83,323 $83,258 $83,477 Plus: taxable equivalent adjustment 617 660 692 Net interest income (FTE) (non-GAAP) 83,940 83,918 84,169 Noninterest income 10,429 11,071 12,830 Plus: net loss (gain) on sale of securities 2,295 2,592 (3) Less: gain on Visa Class B-1 exchange — (186) — Net interest income (FTE) (non-GAAP) plus noninterest income $96,664 $97,395 $96,996 Efficiency ratio (non-GAAP) 56.99 % 56.93 % 56.21 % The efficiency ratio is noninterest expense divided by noninterest income plus net interest income, on an FTE basis (non-GAAP), adjusted to exclude losses (gains) on sale of securities and gain on Visa exchange. We believe the FTE basis ensures comparability of net interest income arising from both taxable and tax-exempt sources and is consistent with industry practice. S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures: 2025 2024 2024 First Fourth First (dollars in thousands) Quarter Quarter Quarter (5) Tangible Common Equity / Tangible Assets (non-GAAP) Total shareholders' equity $1,418,034 $1,380,294 $1,295,074 Less: goodwill and other intangible assets, net of deferred tax liability (375,646) (375,837) (376,396) Tangible common equity (non-GAAP) $1,042,388 $1,004,457 $918,678 Total assets $9,718,276 $9,657,972 $9,539,103 Less: goodwill and other intangible assets, net of deferred tax liability (375,646) (375,837) (376,396) Tangible assets (non-GAAP) $9,342,630 $9,282,135 $9,162,707 Tangible common equity to tangible assets (non-GAAP) 11.16 % 10.82 % 10.03 % Tangible common equity to tangible assets is a preferred industry measurement to evaluate capital adequacy. (6) Net Interest Margin Rate (FTE) (non-GAAP) Interest income and dividend income $124,848 $127,879 $127,754 Less: interest expense (41,525) (44,621) (44,277) Net interest income per consolidated statements of net income 83,323 83,258 83,477 Plus: taxable equivalent adjustment 617 660 692 Net interest income (FTE) (non-GAAP) $83,940 $83,918 $84,169 Net interest income (FTE) (annualized) $340,423 $333,848 $338,526 Average interest-earning assets $8,899,485 $8,860,338 $8,801,163 Net interest margin (FTE) (non-GAAP) 3.81 % 3.77 % 3.84 % The interest income on interest-earning assets, net interest income and net interest margin are presented on an FTE basis (non-GAAP). The FTE basis (non-GAAP) adjusts for the tax benefit of income on certain tax-exempt loans and securities and the dividend-received deduction for equity securities using the federal statutory tax rate of 21 percent for each period. We believe this to be the preferred industry measurement of net interest income that provides a relevant comparison between taxable and non-taxable sources of interest income.
Yahoo
21-04-2025
- Business
- Yahoo
3 Undervalued Small Caps With Insider Buying Across Regions To Enhance Your Portfolio
Over the last 7 days, the United States market has experienced a slight decline of 1.1%, yet it remains up by 5.9% over the past year, with earnings projected to grow annually by 13% in the coming years. In this context, identifying small-cap stocks that are perceived as undervalued and have insider buying activity can be an effective strategy for enhancing portfolio potential amidst fluctuating market conditions. Name PE PS Discount to Fair Value Value Rating Shore Bancshares 9.5x 2.1x 15.88% ★★★★★☆ S&T Bancorp 10.1x 3.5x 46.32% ★★★★★☆ Flowco Holdings 6.4x 1.0x 37.50% ★★★★★☆ Thryv Holdings NA 0.6x 30.33% ★★★★★☆ Columbus McKinnon 40.2x 0.4x 46.22% ★★★☆☆☆ PDF Solutions 164.7x 3.7x 26.54% ★★★☆☆☆ Union Bankshares 16.2x 3.0x 43.03% ★★★☆☆☆ Delek US Holdings NA 0.1x -11.78% ★★★☆☆☆ Tandem Diabetes Care NA 1.2x -3267.68% ★★★☆☆☆ Titan Machinery NA 0.1x -320.70% ★★★☆☆☆ Click here to see the full list of 86 stocks from our Undervalued US Small Caps With Insider Buying screener. Underneath we present a selection of stocks filtered out by our screen. Simply Wall St Value Rating: ★★★★★☆ Overview: Univest Financial operates as a diversified financial services company providing banking, insurance, and wealth management services, with a market cap of approximately $0.83 billion. Operations: The primary revenue streams come from banking, insurance, and wealth management. Operating expenses are significant, with general and administrative expenses consistently being a major component. The net income margin has shown fluctuations over the years, reaching as high as 34.66% in certain periods before settling around 25.91% recently. PE: 10.4x Univest Financial, a smaller player in the financial sector, has shown signs of potential value with its recent performance. For the full year ended December 31, 2024, net income rose to US$75.93 million from US$71.1 million the previous year, while basic earnings per share increased to US$2.6 from US$2.42. Insider confidence is evident as they purchased shares recently, signaling trust in future prospects despite minor loan charge-offs and a slight dip in net interest income to US$211.17 million from US$220 million last year. The company also repurchased 139,492 shares for $4.13 million between October and December 2024 as part of their ongoing buyback program initiated in 2013—an indication of strategic capital allocation aimed at enhancing shareholder value amidst forecasted annual earnings growth of nearly 3%. Unlock comprehensive insights into our analysis of Univest Financial stock in this valuation report. Assess Univest Financial's past performance with our detailed historical performance reports. Simply Wall St Value Rating: ★★★★★★ Overview: Donnelley Financial Solutions provides software solutions and compliance and communications management services to capital markets and investment companies, with a market cap of approximately $1.35 billion. Operations: Revenue is primarily derived from Capital Markets and Investment Companies through Software Solutions and Compliance and Communications Management services. The company has seen fluctuations in its net income margin, which reached 13.22% as of the latest period ending April 2025. Operating expenses are significant, with General & Administrative Expenses being a major component, reaching $289.8 million in the most recent data point provided. PE: 12.9x Donnelley Financial Solutions, a smaller company in its sector, recently amended its credit agreement to secure a $115 million term loan and establish a $300 million revolving facility. This strategic move aims to refinance existing loans and improve financial flexibility. Despite facing revenue declines, the company is innovating with the EDGAR Next Enrollment Portal to streamline SEC compliance for clients. Notably, insider confidence is reflected through share repurchases totaling US$58.96 million by December 2024. Navigate through the intricacies of Donnelley Financial Solutions with our comprehensive valuation report here. Evaluate Donnelley Financial Solutions' historical performance by accessing our past performance report. Simply Wall St Value Rating: ★★★★★☆ Overview: Flowco Holdings is a company that specializes in production solutions and natural gas technologies, with a market cap of approximately $2.75 billion. Operations: Flowco Holdings generates revenue primarily through its Production Solutions and Natural Gas Technologies segments, with the former contributing $327.81 million and the latter $246.64 million. The company's gross profit margin has shown a declining trend from 62.67% in December 2022 to 50.60% by April 2025, reflecting changes in cost structures over time. PE: 6.4x Flowco Holdings, a smaller company in the U.S., recently showcased insider confidence with Independent Director Paul Hobby purchasing 10,000 shares for US$241,700. Despite facing challenges like reduced profit margins from 23.9% to 15% and high debt levels, their annual sales surged to US$535 million from US$243 million. The company's inclusion in the S&P TMI Index and projected earnings growth of over 24% annually suggest potential for future value realization amidst its financial hurdles. Dive into the specifics of Flowco Holdings here with our thorough valuation report. Review our historical performance report to gain insights into Flowco Holdings''s past performance. Delve into our full catalog of 86 Undervalued US Small Caps With Insider Buying here. Are you invested in these stocks already? Keep abreast of every twist and turn by setting up a portfolio with Simply Wall St, where we make it simple for investors like you to stay informed and proactive. Elevate your portfolio with Simply Wall St, the ultimate app for investors seeking global market coverage. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqGS:UVSP NYSE:DFIN and NYSE:FLOC. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
Yahoo
09-04-2025
- Business
- Yahoo
Exploring 3 Undervalued Small Caps With Notable Insider Action
As the U.S. market grapples with heightened volatility and concerns over tariffs, small-cap stocks, particularly those in the S&P 600 index, have been significantly impacted by these economic uncertainties. Amid this backdrop of fluctuating indices and broader market sentiment, identifying small-cap stocks that exhibit strong fundamentals and potential resilience can be a prudent strategy for investors looking to navigate these turbulent times. Name PE PS Discount to Fair Value Value Rating S&T Bancorp 9.8x 3.4x 47.88% ★★★★★★ Plymouth Industrial REIT 4.4x 3.2x 42.32% ★★★★★★ Shore Bancshares 9.0x 2.0x 19.98% ★★★★★☆ Flowco Holdings 5.6x 0.8x 45.80% ★★★★★☆ Thryv Holdings NA 0.5x 38.80% ★★★★★☆ MVB Financial 10.5x 1.4x 38.22% ★★★★☆☆ PDF Solutions 158.2x 3.6x 29.35% ★★★★☆☆ Franklin Financial Services 13.3x 2.1x 42.24% ★★★☆☆☆ Claritev NA 0.3x -5868.09% ★★★☆☆☆ Titan Machinery NA 0.1x -266.62% ★★★☆☆☆ Click here to see the full list of 73 stocks from our Undervalued US Small Caps With Insider Buying screener. We're going to check out a few of the best picks from our screener tool. Simply Wall St Value Rating: ★★★★☆☆ Overview: Daktronics specializes in designing and manufacturing electronic scoreboards, programmable display systems, and large-screen video displays, with a market cap of approximately $0.21 billion. Operations: The company's revenue is primarily driven by its Live Events and High School Park and Recreation segments, contributing significantly to its total income. Over recent periods, the gross profit margin has shown a notable increase from 16.60% to 27.19%. Operating expenses include significant allocations for Sales & Marketing and R&D activities, which are crucial components of its cost structure. PE: 309.7x Daktronics, a US-based company, is navigating through executive changes and strategic shifts. With recent insider confidence shown through share purchases and a completed buyback of 2.5 million shares for US$22.86 million, the company demonstrates commitment to shareholder value. Despite reporting a third-quarter net loss of US$17.16 million against last year's profit, Daktronics is focused on transformation under new leadership with plans to reincorporate in Delaware for enhanced governance. Future earnings growth is forecasted at 105% annually, suggesting potential upside amidst ongoing challenges. Click here to discover the nuances of Daktronics with our detailed analytical valuation report. Assess Daktronics' past performance with our detailed historical performance reports. Simply Wall St Value Rating: ★★★★☆☆ Overview: Armada Hoffler Properties is a real estate company engaged in the development, construction, and management of office, retail, and multifamily properties with a market cap of approximately $1.54 billion. Operations: The company's revenue is primarily driven by General Contracting and Real Estate Services, contributing significantly to its overall income. Operating expenses have shown an upward trend over the periods, impacting net income. Notably, the net profit margin has fluctuated over time, reaching a low of -1.92% and a high of 14.27%. PE: 21.1x Armada Hoffler Properties, a real estate firm with a notable presence in mixed-use developments, recently executed significant leases at The Interlock in Atlanta and Columbus Village in Virginia Beach. Despite earnings challenges forecasted to decline by 36% annually over the next three years, insider confidence is evident as A. Kirk purchased 50,000 shares for US$386,300. This purchase reflects potential optimism about the company's strategic positioning amidst its ongoing leasing success and diverse tenant mix across prime locations. Click to explore a detailed breakdown of our findings in Armada Hoffler Properties' valuation report. Understand Armada Hoffler Properties' track record by examining our Past report. Simply Wall St Value Rating: ★★★☆☆☆ Overview: Global Indemnity Group is an insurance provider with operations primarily focused on specialty property and casualty insurance, and it has a market capitalization of approximately $0.37 billion. Operations: Global Indemnity Group's revenue primarily stems from its Penn-America segment, with a smaller contribution from Non-core Operations. The company has faced fluctuations in its gross profit margin, which was 0.18% as of the latest period ending April 8, 2025. Operating expenses and non-operating expenses also play a significant role in shaping the company's net income outcomes over time. PE: 10.0x Global Indemnity Group, a smaller player in the insurance sector, has demonstrated resilience despite challenges. For 2024, they reported US$441.19 million in revenue and increased net income to US$43.24 million from the previous year's US$25.43 million, reflecting improved profitability amid declining revenues. The company completed a significant reorganization under 'Project Manifest', enhancing operational efficiency and setting the stage for future growth. No recent insider confidence through share purchases was noted; however, strategic changes indicate potential value realization ahead. Take a closer look at Global Indemnity Group's potential here in our valuation report. Explore historical data to track Global Indemnity Group's performance over time in our Past section. Discover the full array of 73 Undervalued US Small Caps With Insider Buying right here. Are any of these part of your asset mix? Tap into the analytical power of Simply Wall St's portfolio to get a 360-degree view on how they're shaping up. Unlock the power of informed investing with Simply Wall St, your free guide to navigating stock markets worldwide. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqGS:DAKT NYSE:AHH and NYSE:GBLI. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
Yahoo
31-03-2025
- Business
- Yahoo
S&T Bancorp, Inc. to Host First Quarter Earnings Conference Call and Webcast
INDIANA, Pa., March 31, 2025 /PRNewswire/ -- S&T Bancorp, Inc. (S&T) (NASDAQ: STBA), the holding company for S&T Bank, announced today that a conference call detailing the company's first quarter 2025 earnings will be held live via webcast at 1:00 p.m. ET, Thursday, April 24, 2025. Christopher J. McComish, chief executive officer, David G. Antolik, president, and Mark Kochvar, chief financial officer, will conduct the conference call. The public is invited to listen. S&T Bancorp, Inc. intends to release its first quarter earnings before the market opens on Thursday, April 24, 2025. PERTINENT USER INFORMATION: What: S&T Bancorp, Inc. First Quarter Earnings Conference Call When: 1:00 p.m. ET, Thursday, April 24, 2025 Where: S&T Bank's Investor Relations webpage ( How: Live and replay webcast over the internet After the live presentation, the webcast will be archived at for 12 months. To Ask Questions:Prior to the webcast, please email questions to Also, participants who log into the webcast will have an opportunity to email their questions directly from the webpage beginning at 12:45 p.m. ET until the conclusion of the presentation. First Quarter 2025 Earnings ReleaseThe S&T Bancorp, Inc. First Quarter Earnings Press Release can be accessed on Thursday, April 24, 2025 at About S&T Bancorp Inc. and S&T BankS&T Bancorp, Inc. is a $9.7 billion bank holding company that is headquartered in Indiana, Pennsylvania and trades on the NASDAQ Global Select Market under the symbol STBA. Its principal subsidiary, S&T Bank, was established in 1902 and operates in Pennsylvania and Ohio. For more information, visit or Follow us on Facebook, Instagram and LinkedIn. View original content to download multimedia: SOURCE S&T Bancorp, Inc. Sign in to access your portfolio
Yahoo
26-02-2025
- Business
- Yahoo
Dividend Stocks To Watch For February 2025
As the U.S. stock market looks to rebound from a recent four-day slump, investors are keenly watching key earnings reports and economic data that could influence future trends. In this environment, dividend stocks continue to attract attention for their potential to provide steady income and serve as a buffer against market volatility. Name Dividend Yield Dividend Rating Columbia Banking System (NasdaqGS:COLB) 5.41% ★★★★★★ Interpublic Group of Companies (NYSE:IPG) 4.75% ★★★★★★ FMC (NYSE:FMC) 6.07% ★★★★★★ Peoples Bancorp (NasdaqGS:PEBO) 5.05% ★★★★★★ Southside Bancshares (NYSE:SBSI) 4.77% ★★★★★★ Dillard's (NYSE:DDS) 5.71% ★★★★★★ Citizens & Northern (NasdaqCM:CZNC) 5.34% ★★★★★★ Regions Financial (NYSE:RF) 6.10% ★★★★★★ Virtus Investment Partners (NYSE:VRTS) 4.99% ★★★★★★ First Interstate BancSystem (NasdaqGS:FIBK) 6.17% ★★★★★★ Click here to see the full list of 142 stocks from our Top US Dividend Stocks screener. Let's uncover some gems from our specialized screener. Simply Wall St Dividend Rating: ★★★★★☆ Overview: S&T Bancorp, Inc. is the bank holding company for S&T Bank, offering retail and commercial banking products and services, with a market cap of approximately $1.50 billion. Operations: S&T Bancorp, Inc. generates revenue through its Community Banking segment, which accounts for $383.76 million. Dividend Yield: 3.4% S&T Bancorp's dividend payments are well-covered by earnings with a payout ratio of 39.3%, and its dividends have been stable and growing over the past decade. Although its current yield of 3.42% is below top-tier payers, the recent increase to $0.34 per share reflects continued commitment to shareholders. Recent earnings show a slight decline, with net income for 2024 at US$131.27 million compared to US$144.78 million in 2023, but dividends remain sustainable and reliable. Dive into the specifics of S&T Bancorp here with our thorough dividend report. In light of our recent valuation report, it seems possible that S&T Bancorp is trading behind its estimated value. Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Evans Bancorp, Inc. is a financial holding company for Evans Bank, N.A., with a market cap of $233.92 million. Operations: Unfortunately, the provided text does not contain specific details about Evans Bancorp's revenue segments. Therefore, I cannot summarize them into a sentence. If you have additional information on their revenue breakdown, please share it for further assistance. Dividend Yield: 3.1% Evans Bancorp's dividend payments have been stable and growing over the past decade, with a current yield of 3.07%, though this is below the top tier in the US market. The recent declaration of a $0.66 per share dividend underscores its commitment to shareholders. However, net income for 2024 significantly declined to US$11.95 million from US$24.52 million in 2023, impacting profitability despite dividends being covered by earnings with a payout ratio of 61.2%. Delve into the full analysis dividend report here for a deeper understanding of Evans Bancorp. According our valuation report, there's an indication that Evans Bancorp's share price might be on the expensive side. Simply Wall St Dividend Rating: ★★★★★☆ Overview: First Commonwealth Financial Corporation is a financial holding company offering consumer and commercial banking services in the United States, with a market cap of approximately $1.63 billion. Operations: First Commonwealth Financial Corporation generates revenue primarily through its banking segment, which accounts for $448.50 million. Dividend Yield: 3.2% First Commonwealth Financial maintains a stable dividend history with a recent 4% increase, yielding 3.18%, though below top-tier US payers. The payout ratio of 37.3% indicates dividends are well-covered by earnings, despite net income declining to US$35.85 million for Q4 2024 from US$44.83 million in the previous year. Recent share buybacks and executive realignment may support future financial stability, while analysts expect stock price growth of 21%. Click here and access our complete dividend analysis report to understand the dynamics of First Commonwealth Financial. The valuation report we've compiled suggests that First Commonwealth Financial's current price could be quite moderate. Navigate through the entire inventory of 142 Top US Dividend Stocks here. Got skin in the game with these stocks? Elevate how you manage them by using Simply Wall St's portfolio, where intuitive tools await to help optimize your investment outcomes. Unlock the power of informed investing with Simply Wall St, your free guide to navigating stock markets worldwide. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqGS:STBA NYSEAM:EVBN and NYSE:FCF. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
