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

Page 1 of 3

2008

2009

Nine Months Ended

March

 

June

 

September

 

December

March

 

June

 

September

September

 

September

For the period:

1Q

2Q

3Q

4Q

1Q

2Q

3Q

2009

2008

 

 

 

 

 

 

Interest Income

$50,458

$50,433

$57,416

$57,811

$50,424

$49,226

$48,310

$147,961

$158,307

Interest Expense

19,909

16,791

18,245

17,226

14,279

12,677

11,477

38,434

54,945

Net Interest Income

30,549

33,642

39,171

40,585

36,145

36,549

36,833

109,527

103,362

Taxable Equivalent Adjustment

1,148

1,227

1,385

1,388

1,334

1,311

1,284

3,929

3,760

Net Interest Income (FTE)

31,697

34,869

40,556

41,973

37,479

37,860

38,117

113,456

107,122

Provision For Loan Losses

1,279

(118)

6,156

5,561

21,389

32,184

8,382

61,954

7,317

Net Interest Income After                 Provisions (FTE)

30,418

34,987

34,400

36,412

16,090

5,676

29,735

51,502

99,805

 

 

Security Gains and Losses, Net

611

(1,829)

(341)

(92)

(1,246)

(1,296)

(2,059)

(4,601)

(1,559)

 

 

Service Charges and Fees

2,402

2,754

3,599

3,567

3,056

3,232

3,305

9,593

8,755

Wealth Management

1,862

1,907

2,118

2,081

1,743

1,912

1,920

5,575

5,887

Insurance

1,997

2,042

2,073

1,984

1,862

1,985

2,020

5,867

6,112

Other

2,638

3,100

2,811

2,168

3,601

4,624

3,038

11,263

8,549

Total Noninterest Income

8,899

9,803

10,601

9,800

10,262

11,753

10,283

32,298

29,303

 

 

Salaries and Employee Benefits

10,060

10,514

11,725

10,409

11,655

12,698

12,284

36,637

32,298

Occupancy and Equip. Expense, Net

2,660

2,636

2,761

2,838

3,082

3,023

2,882

8,987

8,057

Data Processing Expense

1,071

1,668

1,365

1,384

1,468

1,542

1,565

4,575

4,104

FDIC Expense

75

74

131

129

1,941

3,447

1,526

6,914

280

Other

4,089

7,492

6,358

6,363

7,292

12,052

6,582

25,927

17,939

Total Noninterest Expense

17,955

22,384

22,340

21,123

25,438

32,762

24,839

83,040

62,678

 

 

Income (Loss) Before Taxes

21,973

20,577

22,320

24,997

(332)

(16,629)

13,120

(3,841)

64,871

Taxable Equivalent Adjustment

1,148

1,227

1,385

1,388

1,334

1,311

1,284

3,929

3,760

Applicable Income Taxes

5,969

5,489

5,249

7,809

176

(9,284)

2,578

(6,530)

16,708

Net Income (Loss)

14,856

13,861

15,686

15,800

(1,842)

(8,656)

9,258

(1,240)

44,403

Preferred Stock Dividends

-

-

-

-

1,283

1,541

1,543

4,368

-

Net Income (Loss) Available to Common Shareholders

$14,856

$13,861

$15,686

$15,800

($3,125)

($10,197)

$7,715

($5,608)

$44,403

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

27,684,807

27,684,807

27,588,510

Average Shares Outstanding - Diluted

24,680,484

25,503,920

27,602,216

27,722,550

27,637,292

27,650,937

27,716,134

27,654,570

25,934,645

Net Income (Loss) - Diluted

$0.60

$0.54

$0.57

$0.57

($0.11)

($0.37)

$0.28

($0.20)

$1.71

Dividends Declared

$0.31

$0.31

$0.31

$0.31

$0.31

$0.15

$0.15

$0.61

$0.93

Common Book Value

$14.18

$16.00

$16.34

$16.24

$16.01

$15.48

$15.77

$15.77

$16.34

Tangible Common Book Value (5)

$12.04

$9.52

$9.97

$9.90

$9.68

$9.17

$9.44

$9.44

$9.97

Market Value

$32.17

$29.06

$36.83

$35.50

$21.21

$12.16

$12.96

$12.96

$36.83

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

Page 2 of 3

2008

2009

March

June

 

September

 

December

March

June

September

Asset Quality Data

1Q

2Q

3Q

4Q

1Q

2Q

3Q

Nonaccrual Loans and Nonperforming Loans

$23,212

$15,959

$32,793

$42,466

$92,047

$71,433

$86,454

Assets acquired through Foreclosure or Repossession

630

1,884

1,111

851

1,452

2,262

4,745

Nonperforming Assets

23,842

17,843

33,904

43,317

93,499

73,695

91,199

Allowance for Loan Losses

35,717

38,796

43,235

42,689

59,847

57,875

60,880

Nonperforming Loans / Loans

0.81%

0.46%

0.92%

1.19%

2.62%

2.06%

2.51%

Allowance for Loan Losses / Loans

1.25%

1.12%

1.21%

1.20%

1.70%

1.67%

1.77%

Allowance for Loan Losses / Nonperforming Loans

154%

243%

132%

101%

65%

81%

70%

Net Loan Charge-offs (Recoveries)

(94)

2,224

1,717

6,107

4,231

34,156

5,376

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

-0.01%

0.29%

0.20%

0.68%

0.49%

3.91%

0.62%

Balance Sheet (Period-End)

Assets

$3,463,806

$4,353,568

$4,461,085

$4,438,368

$4,314,540

$4,243,876

$4,208,224

Earning Assets

3,212,919

3,934,187

4,075,431

4,044,970

3,948,774

3,868,782

3,836,327

Securities

362,053

466,524

496,844

476,255

429,919

409,011

389,980

Loans, Gross

2,850,866

3,467,663

3,578,587

3,568,716

3,518,855

3,459,771

3,446,347

Total Deposits

2,605,187

3,114,560

3,131,882

3,228,416

3,244,197

3,155,852

3,279,784

Non-Interest Bearing Deposits

471,040

593,339

600,246

600,282

625,325

629,967

673,863

NOW, Money Market & Savings

1,203,833

1,325,755

1,280,816

1,334,324

1,264,407

1,170,573

1,212,073

CD's $100,000 and over

250,489

329,087

353,167

377,748

422,841

403,694

472,736

Other Time Deposits

679,825

866,379

897,653

916,062

931,624

951,618

921,112

Short-term Borrowings

211,391

472,045

552,505

421,894

225,898

291,763

143,980

Long-term Debt

246,403

281,163

280,921

270,950

232,282

207,028

186,772

Shareholders' Equity

349,073

438,499

450,717

448,694

547,276

533,094

541,682

Balance Sheet (Daily Averages)

Assets

$3,407,665

$3,701,389

$4,346,481

$4,419,465

$4,360,166

$4,304,406

$4,207,966

Earning Assets

3,198,279

3,434,268

3,961,327

4,042,118

3,980,258

3,935,389

3,836,806

Securities

369,400

386,243

472,293

490,754

445,150

427,285

397,106

Loans, Gross

2,828,762

3,048,024

3,488,843

3,551,179

3,534,064

3,508,104

3,439,700

Deposits

2,579,321

2,712,198

3,086,428

3,205,711

3,251,587

3,220,761

3,251,265

Shareholders' Equity

345,939

377,160

447,941

458,600

542,240

549,968

540,153

 

 

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

Page 3 of 3

2008

2009

Year-to-date

March

June

 

September

 

December

March

 

June

 

September

September

 

September

Profitability Ratios (annualized)

1Q

2Q

3Q

4Q

1Q

2Q

3Q

2009

2008

Common Return on Average Assets

1.75%

1.51%

1.44%

1.42%

-0.29%

-0.95%

0.73%

-0.17%

1.55%

Common Return on Ave. Tangible Common Assets (6)

1.78%

1.54%

1.50%

1.48%

-0.30%

-0.99%

0.76%

-0.18%

1.60%

Common Return on Average Shareholders' Equity

17.27%

14.78%

13.93%

13.71%

-2.34%

-7.44%

5.67%

-1.38%

15.19%

Common Return on Ave. Tangible Common Equity(7)

20.37%

19.17%

22.95%

22.19%

-4.53%

-15.13%

11.75%

-2.78%

20.94%

Yield on Earning Assets (FTE)

6.49%

6.05%

5.92%

5.83%

5.27%

5.16%

5.14%

5.19%

6.14%

Cost of Interest Bearing Funds

3.10%

2.43%

2.23%

2.06%

1.82%

1.65%

1.53%

1.67%

2.55%

Net Interest Margin (FTE)(4)

3.99%

4.08%

4.07%

4.13%

3.82%

3.86%

3.94%

3.87%

4.05%

Efficiency Ratio (FTE)(1)

44.23%

50.11%

43.67%

40.80%

53.28%

66.04%

51.32%

56.97%

45.94%

Capitalization Ratios

Dividends Paid to Net Income

51.23%

55.05%

54.17%

54.13%

-273.87%

-84.02%

53.77%

Common Equity to Assets (8)

10.08%

10.07%

10.10%

10.11%

10.26%

10.09%

10.37%

Leverage Ratio (2)

9.28%

8.05%

7.15%

7.30%

9.73%

9.56%

9.92%

Risk Based Capital - Tier I (3)

10.29%

7.99%

8.23%

8.65%

11.58%

11.33%

11.57%

Risk Based Capital - Tier II (3)

12.46%

11.12%

11.40%

11.82%

14.82%

14.60%

14.86%

Tangible Common Equity/Tangible Assets (8)

8.69%

6.25%

6.42%

6.41%

6.46%

6.23%

6.48%

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

$15.77

$15.77

$16.34

Effect of excluding intangible assets

(2.14)

(6.48)

(6.37)

(6.34)

(6.33)

(6.31)

(6.33)

(6.33)

(6.37)

Tangible common book value

$12.04

$9.52

$9.97

$9.90

$9.68

$9.17

$9.44

$9.44

$9.97

(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%

0.73%

-0.17%

1.55%

Effect of excluding intangible assets

0.03%

0.03%

0.06%

0.06%

-0.01%

-0.04%

0.03%

-0.01%

0.05%

Common return on average tangible common assets

1.78%

1.54%

1.50%

1.48%

-0.30%

-0.99%

0.76%

-0.18%

1.60%

(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%

5.67%

-1.38%

15.19%

Effect of excluding intangible assets

3.10%

4.39%

9.02%

8.48%

-1.08%

-4.23%

3.38%

-0.75%

5.75%

Effect of excluding preferred stock

-

-

-

-

-1.11%

-3.46%

2.70%

-0.65%

-

Common return on average tangible common equity

20.37%

19.17%

22.95%

22.19%

-4.53%

-15.13%

11.75%

-2.78%

20.94%

(8) Tangible Common Equity / Tangible Assets

Common equity / Assets (GAAP basis)

10.08%

10.07%

10.10%

10.11%

10.26%

10.09%

10.37%

Effect of excluding intangible assets

-1.39%

-3.82%

-3.68%

-3.70%

-3.80%

-3.86%

-3.89%

Tangible common equity / Tangible assets

8.69%

6.25%

6.42%

6.41%

6.46%

6.23%

6.48%