S&T Bancorp, Inc.
Consolidated Selected Financial Data
June 30, 2009
(Dollars in thousands, except per share data)

Page 1 of 3

2008

2009

Six Months Ended

For the period:

March
1Q

 

June
2Q

 

September
3Q

 

December
4Q

March
1Q

June
2Q

June
2009

 

June
2008

Interest Income

$50,458

$50,433

$57,416

$57,811

$50,424

$49,226

$99,650

$100,891

Interest Expense

19,909

16,791

18,245

17,226

14,279

12,677

26,956

36,700

Net Interest Income

30,549

33,642

39,171

40,585

36,145

36,549

72,694

64,191

Taxable Equivalent Adjustment

1,148

1,227

1,385

1,388

1,334

1,311

2,645

2,375

Net Interest Income (FTE)

31,697

34,869

40,556

41,973

37,479

37,860

75,339

66,566

Provision For Loan Losses

1,279

(118)

6,156

5,561

21,389

32,184

53,573

1,161

Net Interest Income After Provisions (FTE)

30,418

34,987

34,400

36,412

16,090

5,676

21,766

65,405

Security Gains and Losses, Net

611

(1,829)

(341)

(92)

(1,246)

(1,296)

(2,542)

(1,218)

Service Charges and Fees

2,402

2,754

3,599

3,567

3,056

3,232

6,288

5,156

Wealth Management

1,862

1,907

2,118

2,081

1,743

1,912

3,655

3,769

Insurance

1,997

2,042

2,073

1,984

1,862

1,985

3,847

4,039

Other

2,638

3,100

2,811

2,168

3,601

4,624

8,225

5,738

Total Noninterest Income

8,899

9,803

10,601

9,800

10,262

11,753

22,015

18,702

Salaries and Employee Benefits

10,060

10,514

11,725

10,409

11,655

12,698

24,353

20,574

Occupancy and Equip. Expense, Net

2,660

2,636

2,761

2,838

3,082

3,023

6,106

5,296

Data Processing Expense

1,071

1,668

1,365

1,384

1,468

1,542

3,010

2,739

FDIC Expense

75

74

131

129

1,941

3,447

5,388

149

Other

4,089

7,492

6,358

6,363

7,292

12,052

19,343

11,581

Total Noninterest Expense

17,955

22,384

22,340

21,123

25,438

32,762

58,200

40,339

Income (Loss) Before Taxes

21,973

20,577

22,320

24,997

(332)

(16,629)

(16,961)

42,550

Taxable Equivalent Adjustment

1,148

1,227

1,385

1,388

1,334

1,311

2,645

2,375

Applicable Income Taxes

5,969

5,489

5,249

7,809

176

(9,284)

(9,108)

11,458

Net Income (Loss)

14,856

13,861

15,686

15,800

(1,842)

(8,656)

(10,498)

28,717

Preferred Stock Dividends

-

-

-

-

1,283

1,541

2,824

-

Net Income (Loss) Available to Common Shareholders

$14,856

$13,861

$15,686

$15,800

($3,125)

($10,197)

($13,322)

$28,717

Per Common Share Data:

Shares Outstanding at End of Period

24,615,136

27,408,633

27,588,510

27,632,928

27,637,317

27,654,530

27,654,530

27,408,633

Average Shares Outstanding - Diluted

24,680,484

25,503,920

27,602,216

27,722,550

27,637,292

27,650,937

27,644,152

25,092,202

Net Income (Loss) - Diluted

$0.60

$0.54

$0.57

$0.57

($0.11)

($0.37)

($0.48)

$1.14

Dividends Declared

$0.31

$0.31

$0.31

$0.31

$0.31

$0.15

$0.46

$0.62

Common Book Value

$14.18

$16.00

$16.34

$16.24

$16.01

$15.48

$15.48

$16.00

Tangible Common Book Value (5)

$12.04

$9.52

$9.97

$9.90

$9.68

$9.17

$9.17

$9.52

Market Value

$32.17

$29.06

$36.83

$35.50

$21.21

$12.16

$12.16

$29.06

 

 

S&T Bancorp, Inc.
Consolidated Selected Financial Data
June 30, 2009
(Dollars in thousands)

Page 2 of 3

2008

2009

Asset Quality Data

March
1Q

June
2Q

 

September
3Q

 

December
4Q

March

1Q

June
2Q

Nonaccrual Loans and Nonperforming Loans

$23,212

$15,959

$32,793

$42,466

$92,047

$71,433

Assets Acquired through Foreclosure or Repossession

630

1,884

1,111

851

1,452

2,262

Nonperforming Assets

23,842

17,843

33,904

43,317

93,499

73,695

Allowance for Loan Losses

35,717

38,796

43,235

42,689

59,847

57,875

Nonperforming Loans / Loans

0.81%

0.46%

0.92%

1.19%

2.62%

2.06%

Allowance for Loan Losses / Loans

1.25%

1.12%

1.21%

1.20%

1.70%

1.67%

Allowance for Loan Losses / Nonperforming Loans

154%

243%

132%

101%

65%

81%

Net Loan Charge-offs (Recoveries)

(94)

2,224

1,717

6,107

4,231

34,156

Net Loan Charge-offs (Recoveries) (annualized)/ Average Loans

-0.01%

0.29%

0.20%

0.68%

0.49%

3.91%

Balance Sheet (Period-End)

Assets

$3,463,806

$4,353,466

$4,461,085

$4,438,368

$4,314,540

$4,243,876

Earning Assets

3,212,919

3,934,187

4,075,431

4,044,970

3,948,774

3,868,782

Securities

362,053

466,524

496,844

476,255

429,919

409,011

Loans, Gross

2,850,866

3,467,663

3,578,587

3,568,716

3,518,855

3,459,771

Total Deposits

2,605,187

3,114,560

3,131,882

3,228,416

3,244,197

3,155,852

Non-Interest Bearing Deposits

471,040

593,339

600,246

600,282

625,325

629,967

NOW, Money Market & Savings

1,203,833

1,325,755

1,280,816

1,334,324

1,264,407

1,170,573

CD's $100,000 and over

250,489

329,087

353,167

377,748

386,441

362,627

Other Time Deposits

679,825

866,379

897,653

916,062

968,024

992,685

Short-term Borrowings

211,391

472,045

552,505

421,894

225,898

291,763

Long-term Debt

246,403

281,163

280,921

270,950

232,282

207,028

Shareholders' Equity

349,073

438,499

450,717

448,694

547,276

533,094

Balance Sheet (Daily Averages)

Assets

$3,407,665

$3,701,389

$4,346,481

$4,419,465

$4,360,166

$4,304,406

Earning Assets

3,198,279

3,434,268

3,961,327

4,042,118

3,980,258

3,935,389

Securities

369,400

386,243

472,293

490,754

445,150

427,285

Loans, Gross

2,828,762

3,048,024

3,488,843

3,551,179

3,534,064

3,508,104

Deposits

2,579,321

2,712,198

3,086,428

3,205,711

3,251,587

3,220,761

Shareholders' Equity

345,939

377,160

447,941

458,600

542,240

549,968

 

 

S&T Bancorp, Inc.
Consolidated Selected Financial Data
June 30, 2009
(Dollars in thousands, except per share data)

Page 3 of 3

2008

2009

Year-to-date

Profitability Ratios (annualized)

March
1Q

June
2Q

 

September
3Q

 

December
4Q

March
1Q

 

June
2Q

June
2009

 

June
2008

 

 

Common Return on Average Assets

1.75%

1.51%

1.44%

1.42%

-0.29%

-0.95%

-0.62%

1.62%

Common Return on Average Tangible Common Assets (6)

1.78%

1.54%

1.50%

1.48%

-0.30%

-0.99%

-0.65%

1.66%

Common Return on Average Shareholders' Equity

17.27%

14.78%

13.93%

13.71%

-2.34%

-7.44%

-4.92%

15.97%

Common Return on Average Tangible Common Equity (7)

20.37%

19.17%

22.95%

22.19%

-4.53%

-15.13%

-9.77%

19.90%

Yield on Earning Assets (FTE)

6.49%

6.05%

5.92%

5.83%

5.27%

5.16%

5.21%

6.26%

Cost of Interest Bearing Funds

3.10%

2.43%

2.23%

2.06%

1.82%

1.65%

1.73%

2.75%

Net Interest Margin (FTE)(4)

3.99%

4.08%

4.07%

4.13%

3.82%

3.86%

3.84%

4.04%

Efficiency Ratio (FTE)(1)

44.23%

50.11%

43.67%

40.80%

53.28%

66.04%

59.78%

47.31%

Capitalization Ratios

Dividends Paid to Net Income

51.23%

55.05%

54.17%

54.13%

-273.87%

-84.02%

Common Equity to Assets (8)

10.08%

10.07%

10.10%

10.11%

10.26%

10.09%

Leverage Ratio (2)

9.28%

8.05%

7.15%

7.30%

9.73%

9.56%

Risk Based Capital - Tier I (3)

10.29%

7.99%

8.23%

8.65%

11.58%

11.33%

Risk Based Capital - Tier II (3)

12.46%

11.12%

11.40%

11.82%

14.82%

14.60%

Tangible Common Equity/Tangible Assets (8)

8.69%

6.25%

6.42%

6.41%

6.46%

6.23%

Definitions and reconciliation of GAAP to non-GAAP financial measures:

(1) Recurring non-interest expense divided by recurring non-interest income plus net interest income, on a fully taxable equivalent basis.

(2) Equity less goodwill to total assets and allowance for loan losses.

(3) Effective October 1, 1998, banking regulators require financial institutions to include 45% of the pretax net unrealized holding gains on available for sale equity securities in Tier 2 capital.

(4) Net interest income, on a fully taxable equivalent basis, annualized divided by quarter-to-date average earning assets.

(5) Tangible Common Book Value

Common book value (GAAP basis)

$14.18

$16.00

$16.34

$16.24

$16.01

$15.48

$15.48

$16.00

Effect of excluding intangible assets

(2.14)

(6.48)

(6.37)

(6.34)

(6.33)

(6.31)

(6.31)

(6.48)

Tangible common book value

$12.04

$9.52

$9.97

$9.90

$9.68

$9.17

$9.17

$9.52

(6) Common Return on Average Tangible Common Assets

Common return on average assets (GAAP basis)

1.75%

1.51%

1.44%

1.42%

-0.29%

-0.95%

-0.62%

1.62%

Effect of excluding intangible assets

0.03%

0.03%

0.06%

0.06%

-0.01%

-0.04%

-0.03%

0.04%

Common return on average tangible common assets

1.78%

1.54%

1.50%

1.48%

-0.30%

-0.99%

-0.65%

1.66%

(7) Common Return on Average Tangible Common Equity

Common return on average equity (GAAP basis)

17.27%

14.78%

13.93%

13.71%

-2.34%

-7.44%

-4.92%

15.97%

Effect of excluding intangible assets

3.10%

4.39%

9.02%

8.48%

-1.08%

-4.23%

-2.53%

3.93%

Effect of excluding preferred stock

-

-

-

-

-1.11%

-3.46%

-2.32%

-

Common return on average tangible common equity

20.37%

19.17%

22.95%

22.19%

-4.53%

-15.13%

-9.77%

19.90%

(8) Tangible Common Equity / Tangible Assets

Common equity / Assets (GAAP basis)

10.08%

10.07%

10.10%

10.11%

10.26%

10.09%

Effect of excluding intangible assets

-1.39%

-3.82%

-3.68%

-3.70%

-3.80%

-3.86%

Tangible common equity / tangible assets

8.69%

6.25%

6.42%

6.41%

6.46%

6.23%