S&T Bancorp : 1Q26 Earnings Supplement

Published: 2026-04-23 07:50:14 ET STBA

Published on 04/23/2026 at 07:50 am EDT

First Quarter 2026 Earnings Supplement

HIGHLIGHTS

Solid earnings and return metrics

EPS growth of 5.6% from 4Q25 and 8.0% from 1Q25

ROTE* of 13.22% impacted by strong

EPS

$0.94

ROA 1.44%

ROTE* 13.22%

Loan decline

Net Income

$35.1 million

ROE 9.77%

PPNR* 1.87%

Deposit growth

earnings and $49.6 million of shares

repurchased in 1Q26

Strong NIM (FTE)* at 3.92%

$112.6 million 5.7% (annualized)

$226.4 million 11.5% (annualized)

Broad-based deposit growth of

$226.4 million (11.5% annualized)

NPAs decreased $5.7 million and net

ACL 1.17%

NCO(1) 0.09%

NPA 0.63%

charge-offs were low at $1.7 million

NIM (FTE)* 3.92%

Efficiency Ratio (FTE)*

55.23%

(1)QTD Annualized

Dollars in millions

*Non-GAAP financial measure. Refer to appendix for reconciliation of non-GAAP financial measures 3

Customer deposit growth of $306.5 million (16.0% annualized)

Reduced wholesale funding by $195.1 million

DDA remains strong at 28% of total deposits

Loan balances declined due to lower fundings, reduced line utilization and higher CRE payoffs

1Q26 vs 4Q25 DEPOSIT CHANGES

7,959

8,072

(113)

8,185

7,959

226

150

265

(115)

DECREASES/INCREASES

1Q26 vs 4Q25:

(150) (100) (50) 0 50 100 150 200 250

Cash & Int Bear Bal

Securities

Loans

Total Deposits

Borrowings

1Q26 4Q25 Var

$ 339 $ 163 $ 176

1,010 988 22

Dollars in millions 4

ACL was stable at 1.17% compared to 1.15% at December 31, 2025

Net loan charge-offs of $1.7 million, or 0.09% of total loans

NPAs decreased $5.7 million to

$49.9 million, or 0.63% of total loans plus OREO

ACL Trend:

Allowance for Credit Losses (ACL)

$20

$16

$12

$(4)

ASSET QUALITY TRENDS

Net Loan Charge-offs/(Recoveries)

1Q25 2Q25 3Q25 4Q25 1Q26

Nonperforming Assets

(1)

1.00%

% of Average Loans

0.80%

0.60%

0.40%

0.20%

0.00%

(0.20)%

% of Gross Loans

$120

$100

$80

$60

$40

$20

1Q25 2Q25 3Q25 4Q25 1Q26

1.50%

1.25%

1.00%

0.75%

0.50%

0.25%

0.00%

$80

$60

$40

$20

1Q25 2Q25 3Q25 4Q25 1Q26

1.00%

% of Portfolio Loans and OREO

0.75%

0.50%

0.25%

0.00%

(1)QTD Annualized Dollars in millions 5

Strong NIM (FTE)* at 3.92%

Cost of funds declined 8 basis points due to lower rates on deposits and reduced levels of borrowings and brokered CDs

Net interest income increased $5.1 million, or 6.1%, from 1Q25

3.81%

3.88%

3.93% 3.99% 3.92%

$83.3

$86.6

$88.4

$89.2

$91.0

2.08% 2.08% 2.05% 1.94% 1.86%

(0.08)%

(0.11)%

(0.12)%

0.00%

(0.03)%

1Q25 2Q25 3Q25 4Q25 1Q26

Dollars in millions

*Non-GAAP financial measure. Refer to appendix for reconciliation of non-GAAP financial measures 6

Customer activity seasonally slower

$12.7

1Q26

1Q26 vs

4Q25

1Q26 vs

1Q25

Debit and Credit Card

$4.3

($0.5)

$0.1

Service Charges

4.2

0.2

Investment Services and Trust

3.4

0.2

0.3

Loss on Sale of Securities

2.3

Other 1.7 (0.4) 0.3

Noninterest Income $13.6 ($0.7) $3.2

Dollars in millions 7

Expenses were well-controlled driving a solid efficiency ratio* of 55%

1Q26

1Q26 vs 4Q25

1Q26 vs 1Q25

Salaries & Benefits

$31.4

($1.3)

$1.5

Data Processing

5.1

0.1

Occupancy

4.6

0.7

0.3

FF&E

3.5

Other Taxes

2.1

0.3

0.6

Marketing

1.5

(0.1)

Professional Services

1.2

FDIC

1.1

Other 6.2 (0.1) (0.8)

Noninterest Expense $56.7 ($0.5) $1.6

Dollars in millions

*Non-GAAP financial measure. Refer to appendix for reconciliation of non-GAAP financial measures 8

Actively managing capital with 1,146,100 shares repurchased at an average price per share of $43.30 for $49.6 million in 1Q26

Strong capital position provides flexibility to support organic growth, to pursue selective acquisitions and repurchase shares

11.03%

11.16%

11.34%

11.46%

11.65%

1Q25 2Q25 3Q25 4Q25 1Q26

Dollars in millions

*Non-GAAP financial measure. Refer to appendix for reconciliation of non-GAAP financial measures 9

1Q26

(Dollars in thousands)

Return on Average Tangible Shareholders' Equity (ROTE) (non-GAAP)

Net income (annualized)

$142,236

Plus: amortization of intangibles (annualized), net of tax

583

Net income before amortization of intangibles (annualized)

$142,819

Average total shareholders' equity

$1,455,682

Less: average goodwill and other intangible assets, net of deferred tax liability

(375,136)

Average tangible equity (non-GAAP)

$1,080,546

Return on average tangible shareholders' equity (non-GAAP)

13.22 %

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.

Pre-provision Net Revenue (PPNR)/Average Assets (non-GAAP)

Income before taxes

$44,044

Plus: Provision for credit losses

1,327

Total

$45,371

Total (annualized) (non-GAAP)

$184,005

Average assets

$9,865,455

PPNR/Average Assets (non-GAAP)

1.87 %

Pre-provision net revenue to average assets is income before taxes adjusted to exclude provision for credit losses. 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.

1Q26

4Q25

3Q25

2Q25

1Q25

(Dollars in thousands)

Tangible Common Equity (TCE)/Tangible Assets (non-GAAP)

Total shareholders' equity

$1,430,681

$1,463,877

$1,475,466

$1,445,493

$1,418,034

Less: goodwill and other intangible assets, net of deferred tax liability

(375,059)

(375,202)

(375,359)

(375,522)

(375,646)

Tangible common equity (non-GAAP)

$1,055,622

$1,088,675

$1,100,107

$1,069,971

$1,042,388

Total assets

$9,944,003

$9,870,980

$9,817,483

$9,810,069

$9,718,276

Less: goodwill and other intangible assets, net of deferred tax liability

(375,059)

(375,202)

(375,359)

(375,522)

(375,646)

Tangible assets (non-GAAP)

$9,568,944

$9,495,778

$9,442,124

$9,434,547

$9,342,630

Tangible common equity to tangible assets (non-GAAP)

11.03 %

11.46 %

11.65 %

11.34

% 11.16 %

Tangible common equity to tangible assets is a preferred industry measurement to evaluate capital adequacy.

Efficiency Ratio (FTE) (non-GAAP)

Noninterest expense

$56,707 $57,176 $56,376 $58,114

$55,091

Net interest income

$88,436 $90,960 $89,241 $86,572

$83,323

Plus: taxable equivalent adjustment

590 605 602 590

617

Net interest income (FTE) (non-GAAP)

89,026 91,565 89,843 87,162

83,940

Noninterest income

13,642 14,331 13,763 13,500

10,429

Plus: net loss on sale of securities

- - - -

2,295

Less: gain on Visa Class B-1 exchange

Net interest income (FTE) (non-GAAP) plus noninterest income

$102,668

$105,896

$103,606

$100,662

$96,664

Efficiency ratio (FTE) (non-GAAP)

55.23 %

53.99 %

54.41 %

57.73

% 56.99 %

The efficiency ratio is noninterest expense divided by noninterest income plus net interest income, on an FTE basis (non-GAAP), adjusted to exclude losses 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.

Net Interest Margin (NIM) (FTE) (non-GAAP)

Interest income and dividend income

$126,333

$131,113

$131,623

$128,906

$124,848

Less: interest expense

(37,897)

(40,153)

(42,382)

(42,334)

(41,525)

Net interest income

88,436

90,960

89,241

86,572

83,323

Plus: taxable equivalent adjustment

590

605

602

590

617

Net interest income (FTE) (non-GAAP)

$89,026

$91,565

$89,843

$87,162

$83,940

Net interest income (FTE) (annualized)

$361,050

$363,274

$356,442

$349,606

$340,423

Average interest-earning assets

$9,172,481

$9,115,453

$9,100,239

$9,012,011

$8,899,485

Net interest margin (FTE) (non-GAAP)

3.92

3.99

3.93

3.88

3.81 %

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.

First Quarter 2026 Earnings Supplement

Disclaimer

S&T Bancorp Inc. published this content on April 23, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 23, 2026 at 11:49 UTC.