Earnings release
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- more - INVESTOR CONTACT: Mark Kochvar S&T Bancorp, Inc. Chief Financial Officer 724.465.4826 mark.kochvar@stbank.com FOR IMMEDIATE RELEASE S&T Bancorp, Inc. Announces Third Quarter 2025 Results INDIANA, Pa., - October 23, 2025 – S&T Bancorp, Inc. (S&T) (NASDAQ: STBA), the holding company for S&T Bank, announced net income of $35.0 million, or $0.91 per diluted share, for the third quarter of 2025 compared to net income of $31.9 million, or $0.83 per diluted share, for the second quarter of 2025 and net income of $32.6 million, or $0.85 per diluted share, for the third quarter of 2024. Third Quarter of 2025 Highlights: • Strong return metrics with return on average assets (ROA) of 1.42%, return on average equity (ROE) of 9.48% and return on average tangible equity (ROTE) (non-GAAP) of 12.81% compared to ROA of 1.32%, ROE of 8.91% and ROTE (non-GAAP) of 12.12% for the second quarter of 2025. • Pre-provision net revenue to average assets (PPNR) (non-GAAP) increased 16 basis points to 1.89% compared to 1.73% for the second quarter of 2025. • Net interest income growth of $2.6 million, or 3.00%, and net interest margin on a fully taxable equivalent basis (NIM) (FTE) (non-GAAP) expansion of 5 basis points to 3.93% compared to 3.88% in the second quarter of 2025. • Total portfolio loans increased $46.6 million, or 2.33% annualized, compared to June 30, 2025. • Net charge-offs were $2.4 million, or 0.12% of average loans, compared to net charge-offs of $1.2 million, or 0.06% of average loans, in the second quarter of 2025. "We delivered another solid quarter with strong return metrics thanks to the efforts of our team and their commitment to our people-forward banking purpose," said Chris McComish, chief executive officer. "Our results reflect improving revenue gains supported by net interest margin expansion. We continue to build robust capital levels which provide us financial flexibility for future growth." Net Interest Income Net interest income increased $2.6 million, or 3.00%, to $89.2 million in the third quarter of 2025 compared to $86.6 million in the second quarter of 2025. Average interest-earning assets increased $88.2 million to $9.1 billion in the third quarter of 2025 compared to $9.0 billion in the second quarter of 2025. NIM (FTE) (non-GAAP) expanded 5 basis points to 3.93% compared to 3.88% in the prior quarter. The yield on average total interest-earning assets increased 1 basis point to 5.77% compared to 5.76% in the second quarter of 2025. Total interest-bearing liability costs decreased 3 basis points to 2.81% compared to 2.84% in the second quarter of 2025 mainly due to the repricing of certificates of deposits.
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S&T Earnings Release - 2 - more - Asset Quality The allowance for credit losses, or ACL, was $98.2 million, or 1.23% of total portfolio loans, at September 30, 2025 compared to $98.6 million, or 1.24%, at June 30, 2025. The provision for credit losses was $2.8 million for the third quarter of 2025 compared to $2.0 million in the second quarter of 2025. Net charge-offs were $2.4 million, or 0.12% of average loans, compared to net charge-offs of $1.2 million, or 0.06% of average loans in the second quarter of 2025. Nonperforming assets (NPAs) increased $28.3 million to $49.6 million, or 0.62% of total loans plus OREO, compared to $21.3 million, or 0.27%, at June 30, 2025. Total NPAs remain at a manageable level. Noninterest Income and Expense Noninterest income was relatively unchanged at $13.8 million in the third quarter of 2025 compared to $13.5 million in the second quarter of 2025. Total noninterest expense decreased $1.7 million to $56.4 million compared to $58.1 million in the second quarter of 2025. Salaries and employee benefits decreased $0.7 million primarily related to lower incentive and medical costs compared to the second quarter of 2025. Professional services and legal decreased $0.5 million due to lower consulting fees compared to the second quarter of 2025. Financial Condition Total assets were $9.8 billion at both September 30, 2025 and June 30, 2025. Total portfolio loans increased $46.6 million, or 2.33% annualized, compared to June 30, 2025. The commercial loan portfolio increased $9.9 million with growth in commercial real estate of $133.5 million offset by decreases in commercial construction of $77.6 million and a decrease in commercial and industrial of $46.0 million compared to June 30, 2025. The consumer loan portfolio increased $36.6 million compared to June 30, 2025 primarily as a result of growth in residential mortgage of $21.6 million and in home equity of $17.7 million. Total deposits increased $1.0 million, or 0.05% annualized, compared to June 30, 2025. Noninterest-bearing demand increased $6.4 million, interest-bearing demand $7.7 million and CDs $39.8 million, offset by decreases in money market of $41.6 million and savings of $11.2 million compared to June 30, 2025. 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 third quarter 2025 earnings conference call live via webcast at 1:00 p.m. ET, Thursday, October 23, 2025. To access the webcast, go to S&T Bancorp Inc.’s Investor Relations webpage stbancorp.com. After the live presentation, the webcast will be archived at stbancorp.com for 12 months. About S&T Bancorp, Inc. and S&T Bank S&T Bancorp, Inc. is a $9.8 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 stbancorp.com or stbank.com. 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
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S&T Earnings Release - 3 - more - 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
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S&T Earnings Release - 4 - more - 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 on an FTE basis, 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.
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S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited S&T Earnings Release - 5 - more - 2025 2025 2024 Third Second Third (dollars in thousands, except per share data) Quarter Quarter Quarter INTEREST AND DIVIDEND INCOME Loans, including fees $120,321 $117,696 $120,907 Investment Securities: Taxable 10,994 10,846 10,221 Tax-exempt 34 35 165 Dividends 274 329 181 Total Interest and Dividend Income 131,623 128,906 131,474 INTEREST EXPENSE Deposits 39,864 39,056 42,493 Borrowings, junior subordinated debt securities and other 2,518 3,278 4,504 Total Interest Expense 42,382 42,334 46,997 NET INTEREST INCOME 89,241 86,572 84,477 Provision for credit losses 2,792 1,974 (454) Net Interest Income After Provision for Credit Losses 86,449 84,598 84,931 NONINTEREST INCOME Loss on sale of securities — — (2,199) Debit and credit card 4,722 4,588 4,688 Service charges on deposit accounts 4,175 4,090 4,181 Wealth management 3,118 3,042 3,071 Other 1,748 1,780 2,136 Total Noninterest Income 13,763 13,500 11,877 NONINTEREST EXPENSE Salaries and employee benefits 32,180 32,907 31,274 Data processing and information technology 4,901 4,847 5,003 Occupancy 4,014 4,024 3,828 Furniture, equipment and software 3,225 3,352 3,410 Other taxes 2,088 2,088 1,874 Marketing 1,255 1,490 1,382 Professional services and legal 1,199 1,739 1,229 FDIC insurance 1,071 1,062 1,054 Other noninterest expense 6,443 6,605 6,311 Total Noninterest Expense 56,376 58,114 55,365 Income Before Taxes 43,836 39,984 41,443 Income tax expense 8,874 8,084 8,853 Net Income $34,962 $31,900 $32,590 Per Share Data Shares outstanding at end of period 38,350,500 38,345,448 38,259,730 Average shares outstanding - diluted 38,595,118 38,637,400 38,560,409 Diluted earnings per share $0.91 $0.83 $0.85 Dividends declared per share $0.34 $0.34 $0.33 Dividend yield (annualized) 3.62% 3.60% 3.15% Dividends paid to net income 37.35% 41.30% 38.77% Book value $38.47 $37.70 $35.96 Tangible book value (non-GAAP) (1) $28.69 $27.90 $26.13 Market value $37.59 $37.82 $41.97 Profitability Ratios (Annualized) Return on average assets 1.42% 1.32% 1.35% Return on average shareholders' equity 9.48% 8.91% 9.58% Return on average tangible shareholders' equity (non-GAAP)(2) 12.81% 12.12% 13.35% Pre-provision net revenue / average assets (non-GAAP)(3) 1.89% 1.73% 1.78% Efficiency ratio (FTE) (non-GAAP)(4) 54.41% 57.73% 55.88%
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S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited S&T Earnings Release - 6 - more - Nine Months Ended September 30, (dollars in thousands, except per share data) 2025 2024 INTEREST AND DIVIDEND INCOME Loans, including fees $352,357 $359,048 Investment Securities: Taxable 31,913 27,577 Tax-exempt 226 526 Dividends 881 842 Total Interest and Dividend Income 385,377 387,993 INTEREST EXPENSE Deposits 117,274 118,784 Borrowings, junior subordinated debt securities and other 8,967 17,661 Total Interest Expense 126,241 136,445 NET INTEREST INCOME 259,136 251,548 Provision for credit losses 1,726 2,595 Net Interest Income After Provision for Credit Losses 257,410 248,953 NONINTEREST INCOME Loss on sale of securities (2,295) (5,346) Debit and credit card 13,498 13,636 Service charges on deposit accounts 12,227 12,098 Wealth management 9,244 9,108 Other 5,018 8,516 Total Noninterest Income 37,692 38,012 NONINTEREST EXPENSE Salaries and employee benefits 94,940 91,174 Data processing and information technology 14,678 14,172 Occupancy 12,340 11,347 Furniture, equipment and software 10,060 10,264 Other Taxes 5,670 5,178 Marketing 4,360 4,729 Professional services and legal 4,224 4,352 FDIC insurance 3,173 3,156 Other noninterest expense 20,136 19,121 Total Noninterest Expense 169,581 163,493 Income Before Taxes 125,521 123,472 Income tax expense 25,258 25,272 Net Income $100,263 $98,200 Per Share Data Average shares outstanding - diluted 38,611,041 38,566,858 Diluted earnings per share $2.60 $2.55 Dividends declared per share $1.02 $0.99 Dividends paid to net income 39.15% 38.66% Profitability Ratios (annualized) Return on average assets 1.38% 1.37% Return on average shareholders' equity 9.35% 9.97% Return on average tangible shareholders' equity (non-GAAP)(5) 12.73% 14.06% Pre-provision net revenue / average assets (non-GAAP)(6) 1.78% 1.79% Efficiency ratio (FTE) (non-GAAP)(7) 56.35% 55.68%
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S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited S&T Earnings Release - 7 - more - 2025 2025 2024 Third Second Third (dollars in thousands) Quarter Quarter Quarter ASSETS Cash and due from banks $196,228 $203,118 $228,090 Securities available for sale, at fair value 1,001,149 1,021,183 1,011,312 Loans held for sale — — 307 Commercial loans: Commercial real estate 3,653,790 3,520,294 3,327,895 Commercial and industrial 1,466,075 1,512,027 1,548,172 Commercial construction 320,190 397,785 386,509 Total Commercial Loans 5,440,055 5,430,106 5,262,576 Consumer loans: Residential mortgage 1,700,636 1,678,992 1,612,629 Home equity 698,886 681,143 645,966 Installment and other consumer 102,600 100,177 105,235 Consumer construction 38,830 44,016 62,648 Total Consumer Loans 2,540,952 2,504,328 2,426,478 Total Portfolio Loans 7,981,007 7,934,434 7,689,054 Allowance for credit losses (98,155) (98,580) (104,321) Total Portfolio Loans, Net 7,882,852 7,835,854 7,584,733 Federal Home Loan Bank and other restricted stock, at cost 15,042 15,817 11,484 Goodwill 373,424 373,424 373,424 Other Intangible assets, net 2,450 2,656 3,173 Other assets 346,338 358,017 371,424 Total Assets $9,817,483 $9,810,069 $9,583,947 LIABILITIES Deposits: Noninterest-bearing demand $2,188,699 $2,182,346 $2,157,537 Interest-bearing demand 745,904 738,251 773,224 Money market 2,194,702 2,236,298 2,074,095 Savings 868,019 879,254 879,653 Certificates of deposit 1,924,619 1,884,771 1,770,332 Total Deposits 7,921,943 7,920,920 7,654,841 Borrowings: Short-term borrowings 135,000 150,000 225,000 Long-term borrowings 50,836 50,856 64,015 Junior subordinated debt securities 49,463 49,448 49,403 Total Borrowings 235,299 250,304 338,418 Other liabilities 184,775 193,352 214,934 Total Liabilities 8,342,017 8,364,576 8,208,193 SHAREHOLDERS’ EQUITY Total Shareholders’ Equity 1,475,466 1,445,493 1,375,754 Total Liabilities and Shareholders’ Equity $9,817,483 $9,810,069 $9,583,947 Capitalization Ratios Shareholders' equity / assets 15.03% 14.73% 14.35% Tangible common equity / tangible assets (non-GAAP)(9) 11.65% 11.34% 10.86% Tier 1 leverage ratio 12.33% 12.18% 11.70% Common equity tier 1 capital 14.75% 14.59% 14.37% Risk-based capital - tier 1 15.06% 14.91% 14.70% Risk-based capital - total 16.63% 16.48% 16.28%
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S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited S&T Earnings Release - 8 - more - 2025 2025 2024 Third Second Third (dollars in thousands) Quarter Quarter Quarter Net Interest Margin (FTE) (non-GAAP) (QTD Averages) ASSETS Interest-bearing deposits with banks $128,236 4.43% $120,156 4.46% $200,301 5.44% Securities, at fair value 1,011,624 3.80% 1,011,629 3.79% 990,375 3.12% Loans held for sale 18 6.88% — 0.00% 20 6.77% Commercial real estate 3,564,071 5.86% 3,477,321 5.88% 3,298,619 5.96% Commercial and industrial 1,485,816 6.78% 1,519,133 6.71% 1,566,145 7.39% Commercial construction 379,167 6.97% 382,363 6.94% 406,321 7.82% Total Commercial Loans 5,429,054 6.19% 5,378,817 6.19% 5,271,085 6.53% Residential mortgage 1,688,697 5.33% 1,674,231 5.26% 1,589,791 5.11% Home equity 687,639 6.35% 670,066 6.37% 642,384 7.01% Installment and other consumer 100,551 7.85% 99,550 7.88% 103,390 8.65% Consumer construction 40,612 6.73% 41,025 6.82% 62,998 6.42% Total Consumer Loans 2,517,499 5.73% 2,484,872 5.69% 2,398,563 5.81% Total Portfolio Loans 7,946,553 6.04% 7,863,689 6.03% 7,669,648 6.30% Total Loans 7,946,571 6.04% 7,863,689 6.03% 7,669,668 6.30% Total other earning assets 13,808 7.63% 16,537 7.70% 15,413 6.21% Total Interest-earning Assets 9,100,239 5.77% 9,012,011 5.76% 8,875,757 5.93% Noninterest-earning assets 699,840 712,891 744,609 Total Assets $9,800,079 $9,724,902 $9,620,366 LIABILITIES AND SHAREHOLDERS' EQUITY Interest-bearing demand $742,817 0.99% $763,687 1.01% $785,854 1.11% Money market 2,247,331 3.06% 2,188,771 3.04% 2,051,754 3.40% Savings 873,968 0.72% 880,448 0.69% 891,952 0.75% Certificates of deposit 1,915,006 3.96% 1,872,329 4.07% 1,825,530 4.60% Total Interest-bearing Deposits 5,779,122 2.74% 5,705,235 2.75% 5,555,090 3.04% Short-term borrowings 73,538 4.53% 135,659 4.63% 202,500 4.88% Long-term borrowings 50,846 3.80% 50,866 3.80% 40,383 4.47% Junior subordinated debt securities 49,454 7.08% 49,439 7.12% 49,394 8.11% Total Borrowings 173,838 5.04% 235,964 4.97% 292,277 5.37% Total Other Interest-bearing Liabilities 28,049 4.36% 32,202 4.39% 41,038 5.36% Total Interest-bearing Liabilities 5,981,009 2.81% 5,973,401 2.84% 5,888,405 3.17% Noninterest-bearing liabilities 2,355,972 2,315,213 2,377,914 Shareholders' equity 1,463,098 1,436,288 1,354,047 Total Liabilities and Shareholders' Equity $9,800,079 $9,724,902 $9,620,366 Net Interest Margin (FTE) (non-GAAP)(10) 3.93% 3.88% 3.82%
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S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited S&T Earnings Release - 9 - more - Nine Months Ended September 30, (dollars in thousands) 2025 2024 Net Interest Margin (FTE) (non-GAAP) (YTD Averages) ASSETS Interest-bearing deposits with banks $125,708 4.45% $162,957 5.54% Securities, at fair value 1,004,633 3.73% 972,941 2.96% Loans held for sale 7 6.23% 74 7.14% Commercial real estate 3,479,614 5.85% 3,336,689 5.95% Commercial and industrial 1,513,214 6.73% 1,599,528 7.37% Commercial construction 378,819 6.95% 382,177 7.78% Total Commercial Loans 5,371,647 6.18% 5,318,394 6.51% Residential mortgage 1,674,472 5.27% 1,532,410 5.02% Home equity 670,399 6.34% 645,055 7.01% Installment and other consumer 99,839 7.90% 106,523 8.64% Consumer construction 42,248 6.81% 68,504 5.98% Total Consumer Loans 2,486,958 5.69% 2,352,492 5.75% Total Portfolio Loans 7,858,605 6.02% 7,670,886 6.28% Total Loans 7,858,612 6.02% 7,670,960 6.28% Total other earning assets 15,694 7.34% 20,260 6.87% Total Interest-earning Assets 9,004,647 5.75% 8,827,118 5.90% Noninterest-earning assets 713,016 746,295 Total Assets $9,717,663 $9,573,413 LIABILITIES AND SHAREHOLDERS' EQUITY Interest-bearing demand $761,804 1.00% $812,443 1.12% Money market 2,175,399 3.02% 1,970,539 3.27% Savings 879,645 0.69% 915,643 0.69% Certificates of deposit 1,882,923 4.11% 1,746,498 4.51% Total Interest-bearing deposits 5,699,771 2.75% 5,445,123 2.91% Short-term borrowings 108,811 4.61% 290,602 5.17% Long-term borrowings 50,866 3.80% 39,571 4.51% Junior subordinated debt securities 49,439 7.12% 49,379 8.17% Total Borrowings 209,116 5.01% 379,552 5.49% Total Other Interest-bearing Liabilities 34,667 4.39% 50,303 5.40% Total Interest-bearing Liabilities 5,943,554 2.84% 5,874,978 3.10% Noninterest-bearing liabilities 2,340,420 2,382,352 Shareholders' equity 1,433,689 1,316,083 Total Liabilities and Shareholders' Equity $9,717,663 $9,573,413 Net Interest Margin (FTE) (non-GAAP)(8) 3.87% 3.84%
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S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited S&T Earnings Release - 10 - more - 2025 2025 2024 Third Second Third (dollars in thousands) Quarter Quarter Quarter Nonaccrual Loans Commercial loans: % Loans % Loans % Loans Commercial real estate $27,964 0.77% $3,967 0.11% $14,877 0.45% Commercial and industrial 9,826 0.67% 5,459 0.36% 5,789 0.37% Commercial construction 869 0.27% 869 0.22% 3,416 0.88% Total Nonaccrual Commercial Loans 38,659 0.71% 10,295 0.19% 24,082 0.46% Consumer loans: Residential mortgage 7,005 0.41% 7,239 0.43% 4,478 0.28% Home equity 3,790 0.54% 3,593 0.53% 3,065 0.47% Installment and other consumer 164 0.16% 185 0.18% 264 0.25% Total Nonaccrual Consumer Loans 10,959 0.43% 11,017 0.44% 7,807 0.32% Total Nonaccrual Loans $49,618 0.62% $21,312 0.27% $31,889 0.41% 2025 2025 2024 Third Second Third (dollars in thousands) Quarter Quarter Quarter Loan Charge-offs (Recoveries) Charge-offs $3,053 $1,656 $2,440 Recoveries (639) (498) (303) Net Loan Charge-offs $2,414 $1,158 $2,137 Net Loan Charge-offs (Recoveries) Commercial loans: Commercial real estate $106 ($16) $47 Commercial and industrial 2,142 331 1,255 Commercial construction (9) 89 — Total Commercial Loan Charge-offs 2,239 404 1,302 Consumer loans: Residential mortgage 32 13 (5) Home equity 9 160 580 Installment and other consumer 134 581 260 Total Consumer Loan Charge-offs 175 754 835 Total Net Loan Charge-offs $2,414 $1,158 $2,137
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S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited S&T Earnings Release - 11 - more - Nine Months Ended September 30, (dollars in thousands) 2025 2024 Loan Charge-offs (Recoveries) Charge-offs $5,593 $10,224 Recoveries (2,048) (1,885) Net Loan Charge-offs $3,545 $8,339 Net Loan Charge-offs (Recoveries) Commercial loans: Commercial real estate ($56) $4,906 Commercial and industrial 2,627 1,547 Commercial construction 110 — Total Commercial Loan Charge-offs 2,681 6,453 Consumer loans: Residential mortgage 58 35 Home equity 188 959 Installment and other consumer 618 892 Total Consumer Loan Charge-offs 864 1,886 Total Net Loan Charge-offs $3,545 $8,339 2025 2025 2024 Third Second Third (dollars in thousands) Quarter Quarter Quarter Asset Quality Data Nonaccrual loans $49,618 $21,312 $31,889 OREO 8 — — Total nonperforming assets 49,626 21,312 31,889 Nonaccrual loans / total loans 0.62% 0.27% 0.41% Nonperforming assets / total loans plus OREO 0.62% 0.27% 0.41% Allowance for credit losses / total portfolio loans 1.23% 1.24% 1.36% Allowance for credit losses / nonaccrual loans 198% 463% 327% Net loan charge-offs $2,414 $1,158 $2,138 Net loan charge-offs (annualized) / average loans 0.12% 0.06% 0.11% Nine Months Ended September 30, (dollars in thousands) 2025 2024 Asset Quality Data Net loan charge-offs $3,545 $8,339 Net loan charge-offs (annualized) / average loans 0.06% 0.15%
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S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited S&T Earnings Release - 12 - more - Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures: 2025 2025 2024 Third Second Third (dollars in thousands, except per share data) Quarter Quarter Quarter (1) Tangible Book Value (non-GAAP) Total shareholders' equity $1,475,466 $1,445,493 $1,375,754 Less: goodwill and other intangible assets, net of deferred tax liability (375,359) (375,522) (375,931) Tangible common equity (non-GAAP) $1,100,107 $1,069,971 $999,823 Common shares outstanding 38,350,500 38,345,448 38,259,730 Tangible book value (non-GAAP) $28.69 $27.90 $26.13 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) $138,708 $127,951 $129,652 Plus: amortization of intangibles (annualized), net of tax 649 653 893 Net income before amortization of intangibles (annualized) $139,357 $128,604 $130,545 Average total shareholders' equity $1,463,098 $1,436,288 $1,354,047 Less: average goodwill and other intangible assets, net of deferred tax liability (375,446) (375,572) (376,048) Average tangible equity (non-GAAP) $1,087,652 $1,060,716 $977,999 Return on average tangible shareholders' equity (non-GAAP) 12.81% 12.12% 13.35% Return on average tangible shareholders' equity is a preferred industry profitability metric used by management, as well as investors and analysts, to measure financial performance. (3) Pre-provision Net Revenue / Average Assets (non-GAAP) Income before taxes $43,836 $39,984 $41,443 Plus: net loss on sale of securities — — 2,199 Less: gain on Visa Class B-1 exchange — — (150) Plus: Provision for credit losses 2,792 1,974 (454) Total $46,628 $41,958 $43,038 Total (annualized) (non-GAAP) $184,992 $168,293 $171,216 Average assets $9,800,079 $9,724,902 $9,620,366 Pre-provision Net Revenue / Average Assets (non-GAAP) 1.89% 1.73% 1.78% 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 management, as well as investors and analysts, evaluate our ability to fund credit losses or build capital. (4) Efficiency Ratio (FTE) (non-GAAP) Noninterest expense $56,376 $58,114 $55,365 Net interest income per consolidated statements of net income $89,241 $86,572 $84,477 Plus: taxable equivalent adjustment 602 590 671 Net interest income (FTE) (non-GAAP) 89,843 87,162 85,148 Noninterest income 13,763 13,500 11,877 Plus: net loss on sale of securities — — 2,199 Less: gain on Visa Class B-1 exchange — — (150) Net interest income (FTE) (non-GAAP) plus noninterest income $103,606 $100,662 $99,074 Efficiency ratio (FTE) (non-GAAP) 54.41% 57.73% 55.88% 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.
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S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited S&T Earnings Release - 13 - more - Nine Months Ended September 30, (dollars in thousands) 2025 2024 (5) Return on Average Tangible Shareholders' Equity (non-GAAP) Net income (annualized) $134,051 $131,172 Plus: amortization of intangibles (annualized), net of tax 690 919 Net income before amortization of intangibles (annualized) $134,741 $132,091 Average total shareholders' equity $1,433,689 $1,316,083 Less: average goodwill and other intangible assets, net of deferred tax liability (375,585) (376,283) Average tangible equity (non-GAAP) $1,058,104 $939,800 Return on average tangible shareholders' equity (non-GAAP) 12.73% 14.06% Return on average tangible shareholders' equity is a preferred industry profitability metric used by management, as well as investors and analysts, to measure financial performance. (6) Pre-provision Net Revenue / Average Assets (non-GAAP) Income before taxes $125,521 $123,472 Plus: net losses on sale of securities 2,295 5,346 Less: gain on Visa Class B-1 exchange — (3,306) Plus: Provision for credit losses 1,726 2,595 Total $129,542 $128,107 Total (annualized) (non-GAAP) $173,197 $171,121 Average assets $9,717,663 $9,573,413 Pre-provision Net Revenue / Average Assets (non-GAAP) 1.78% 1.79% 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 management, as well as investors and analysts, evaluate our ability to fund credit losses or build capital. (7) Efficiency Ratio (FTE) (non-GAAP) Noninterest expense $169,581 $163,493 Net interest income per consolidated statements of net income $259,136 $251,548 Plus: taxable equivalent adjustment 1,810 2,045 Net interest income (FTE) (non-GAAP) 260,946 253,593 Noninterest income 37,692 38,012 Plus: net losses on sale of securities 2,295 5,346 Less: gain on Visa Class B-1 exchange — (3,306) Net interest income (FTE) (non-GAAP) plus noninterest income $300,933 $293,645 Efficiency ratio (FTE) (non-GAAP) 56.35% 55.68% 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. (8) Net Interest Margin (FTE) (non-GAAP) Interest income and dividend income $385,377 $387,993 Less: interest expense (126,241) (136,445) Net interest income per consolidated statements of net income 259,136 251,548 Plus: taxable equivalent adjustment 1,810 2,045 Net interest income (FTE) (non-GAAP) $260,946 $253,593 Net interest income (FTE) (annualized) $348,884 $338,741 Average interest-earning assets $9,004,647 $8,827,118 Net interest margin - (FTE) (non-GAAP) 3.87% 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.
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S&T Bancorp, Inc. Consolidated Selected Financial Data Unaudited S&T Earnings Release - 14 ### Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures: 2025 2025 2024 Third Second Third (dollars in thousands) Quarter Quarter Quarter (9) Tangible Common Equity / Tangible Assets (non-GAAP) Total shareholders' equity $1,475,466 $1,445,493 $1,375,754 Less: goodwill and other intangible assets, net of deferred tax liability (375,359) (375,522) (375,931) Tangible common equity (non-GAAP) $1,100,107 $1,069,971 $999,823 Total assets $9,817,483 $9,810,069 $9,583,947 Less: goodwill and other intangible assets, net of deferred tax liability (375,359) (375,522) (375,931) Tangible assets (non-GAAP) $9,442,124 $9,434,547 $9,208,016 Tangible common equity to tangible assets (non-GAAP) 11.65% 11.34% 10.86% Tangible common equity to tangible assets is a preferred industry measurement to evaluate capital adequacy. (10) Net Interest Margin (FTE) (non-GAAP) Interest income and dividend income $131,623 $128,906 $131,474 Less: interest expense (42,382) (42,334) (46,997) Net interest income per consolidated statements of net income 89,241 86,572 84,477 Plus: taxable equivalent adjustment 602 590 671 Net interest income (FTE) (non-GAAP) $89,843 $87,162 $85,148 Net interest income (FTE) (annualized) $356,442 $349,606 $338,741 Average interest-earning assets $9,100,239 $9,012,011 $8,875,757 Net interest margin (FTE) (non-GAAP) 3.93% 3.88% 3.82% 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.