S&T Bancorp, Inc. | Page 1 of 3 | |||||||||
Consolidated Selected Financial Data | ||||||||||
December 31, 2002 | ||||||||||
(Dollars in thousands, except per share data) | ||||||||||
2001 | 2002 | |||||||||
March | June | September | December | March | June | September | December | December | December | |
For the period: | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 2002 | 2001 |
Interest Income (FTE) | $44,911 | $43,735 | $41,792 | $39,202 | $36,992 | $37,423 | $38,607 | $41,114 | $154,136 | $169,640 |
Interest Expense | 21,560 | 20,272 | 18,640 | 16,241 | 14,473 | 14,147 | 13,826 | 13,854 | 56,300 | 76,713 |
Net Interest Income (FTE) | 23,351 | 23,463 | 23,152 | 22,961 | 22,519 | 23,276 | 24,781 | 27,260 | 97,836 | 92,927 |
Provisions For Loan Losses | 1,000 | 2,000 | 850 | 1,150 | 1,000 | 1,500 | 2,300 | 3,000 | 7,800 | 5,000 |
Net Interest Income | ||||||||||
After Provisions (FTE) | 22,351 | 21,463 | 22,302 | 21,811 | 21,519 | 21,776 | 22,481 | 24,260 | 90,036 | 87,927 |
Securities Gains, Net | 1,424 | 2,499 | 4,268 | 1,499 | 1,752 | 1,722 | 2,168 | 1,428 | 7,070 | 9,690 |
Service Charges and Fees | 1,715 | 1,765 | 1,888 | 1,932 | 1,772 | 1,909 | 2,238 | 2,482 | 8,401 | 7,300 |
Wealth Management | 1,299 | 1,268 | 1,128 | 1,246 | 1,248 | 1,433 | 1,340 | 1,349 | 5,372 | 4,941 |
Other | 2,010 | 2,256 | 2,432 | 2,598 | 2,508 | 2,591 | 3,203 | 3,535 | 11,837 | 9,295 |
Total Other Income | 5,024 | 5,289 | 5,448 | 5,776 | 5,528 | 5,933 | 6,781 | 7,366 | 25,610 | 21,536 |
Salaries and Employee Benefits | 6,436 | 6,129 | 6,251 | 6,282 | 6,994 | 6,299 | 6,700 | 7,375 | 27,368 | 25,098 |
Occupancy and Equip. Expense, Net | 1,512 | 1,578 | 1,544 | 1,418 | 1,632 | 1,470 | 1,627 | 1,788 | 6,517 | 6,052 |
Data Processing Expense | 641 | 677 | 677 | 638 | 697 | 695 | 921 | 726 | 3,039 | 2,632 |
FDIC Expense | 72 | 71 | 72 | 72 | 71 | 70 | 68 | 80 | 289 | 287 |
Other | 3,029 | 3,337 | 3,236 | 3,297 | 3,084 | 3,449 | 3,945 | 4,073 | 14,553 | 12,899 |
Total Other Expense | 11,690 | 11,792 | 11,780 | 11,707 | 12,478 | 11,983 | 13,261 | 14,042 | 51,766 | 46,968 |
Income Before Taxes and Extraordinary Item | 17,109 | 17,459 | 20,238 | 17,379 | 16,321 | 17,448 | 18,169 | 19,012 | 70,950 | 72,185 |
Taxable Equivalent Adjustment | 734 | 738 | 730 | 736 | 741 | 751 | 764 | 720 | 2,976 | 2,938 |
Applicable Income Taxes | 4,725 | 4,799 | 5,763 | 4,775 | 4,107 | 4,871 | 4,988 | 5,404 | 19,370 | 20,062 |
Net Income before Extraordinary Item | 11,650 | 11,922 | 13,745 | 11,868 | 11,473 | 11,826 | 12,417 | 12,888 | 48,604 | 49,185 |
Extraordinary Item (after-tax) | 0 | 0 | 1,887 | 0 | 0 | 0 | 0 | 0 | 0 | 1,887 |
Net Income | $11,650 | $11,922 | $11,858 | $11,868 | $11,473 | $11,826 | $12,417 | $12,888 | $48,604 | $47,298 |
Per Common Share Data: | ||||||||||
Shares Outstanding | 26,960,118 | 26,893,489 | 26,776,579 | 26,646,179 | 26,520,979 | 26,639,003 | 26,510,409 | 26,584,609 | 26,584,609 | 26,646,179 |
Average Shares Outstanding - Diluted | 27,120,228 | 27,092,674 | 27,080,643 | 26,912,388 | 26,742,806 | 26,826,265 | 26,808,027 | 26,759,655 | 26,784,198 | 27,051,060 |
Net Income - Diluted before Extraordinary Item | $0.43 | $0.44 | $0.51 | $0.44 | $0.43 | $0.44 | $0.46 | $0.48 | $1.81 | $1.82 |
Net Income - Diluted after Extraordinary Item | $0.43 | $0.44 | $0.44 | $0.44 | $0.43 | $0.44 | $0.46 | $0.48 | $1.81 | $1.75 |
Dividends Declared | $0.22 | $0.23 | $0.23 | $0.24 | $0.24 | $0.24 | $0.24 | $0.25 | $0.97 | $0.92 |
Book Value | $10.56 | $10.82 | $10.88 | $11.01 | $11.03 | $11.25 | $11.26 | $11.51 | $11.51 | $11.01 |
Market Value | $23.14 | $25.11 | $23.40 | $24.28 | $25.45 | $27.00 | $25.18 | $25.05 | $25.05 | $24.28 |
S&T Bancorp, Inc. | Page 2 of 3 | |||||||||
Consolidated Selected Financial Data | ||||||||||
December 31, 2002 | ||||||||||
(Dollars in thousands) | ||||||||||
2001 | 2002 | |||||||||
March | June | September | December | March | June | September | December | |||
Asset Quality Data: | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | ||
Nonaccrual Loans/Nonperforming Loans | $3,691 | $7,840 | $11,603 | $8,253 | $7,653 | $6,248 | $9,075 | $5,831 | ||
Assets acquired through foreclosure | ||||||||||
Or repossession | 546 | 541 | 443 | 1,711 | 2,166 | 2,431 | 365 | 2,188 | ||
Nonperforming Assets | 4,237 | 8,381 | 12,046 | 9,964 | 9,819 | 8,679 | 9,440 | 8,019 | ||
Loan Loss Reserve | 27,993 | 28,451 | 28,764 | 26,926 | 27,853 | 28,389 | 29,498 | 30,138 | ||
Nonperforming Loans / Loans | 0.23% | 0.48% | 0.71% | 0.50% | 0.47% | 0.37% | 0.46% | 0.29% | ||
Loan Loss Reserve / Loans | 1.71% | 1.73% | 1.75% | 1.64% | 1.72% | 1.68% | 1.49% | 1.51% | ||
Loan Loss Reserve / | ||||||||||
Nonperforming Loans | 758% | 363% | 248% | 326% | 364% | 454% | 325% | 517% | ||
Net Loan Charge-offs | 402 | 1,542 | 537 | 2,988 | 73 | 964 | 2,612 | 2,360 | ||
Net Loan Charge-offs | ||||||||||
(annualized) /Average Loans | 0.10% | 0.38% | 0.13% | 0.72% | 0.02% | 0.23% | 0.59% | 0.47% | ||
Balance Sheet (Period-End): | ||||||||||
Assets | $2,354,398 | $2,363,970 | $2,294,868 | $2,357,874 | $2,362,616 | $2,425,854 | $2,776,968 | $2,823,867 | ||
Earning Assets (1) | 2,185,844 | 2,195,954 | 2,131,929 | 2,176,629 | 2,203,077 | 2,258,635 | 2,547,907 | 2,599,205 | ||
Securities (1) | 493,835 | 512,338 | 489,766 | 533,861 | 585,317 | 568,947 | 566,850 | 600,312 | ||
Loans, Gross | 1,638,184 | 1,649,041 | 1,642,163 | 1,642,768 | 1,617,759 | 1,689,688 | 1,981,057 | 1,998,893 | ||
Total Deposits | 1,567,006 | 1,595,572 | 1,596,400 | 1,611,317 | 1,602,308 | 1,636,266 | 1,931,458 | 1,926,119 | ||
Non-Interest Bearing Deposits | 228,958 | 236,340 | 240,157 | 257,694 | 261,622 | 273,317 | 327,659 | 330,160 | ||
NOW, Money Market & Savings | 598,199 | 604,690 | 583,849 | 604,872 | 608,743 | 619,661 | 768,447 | 768,395 | ||
CD's $100,000 and over | 132,198 | 127,162 | 132,309 | 116,523 | 114,774 | 130,260 | 172,364 | 170,862 | ||
Other Time Deposits | 607,651 | 627,380 | 640,085 | 632,227 | 617,169 | 613,028 | 662,988 | 656,702 | ||
Short-term borrowings | 66,670 | 70,058 | 76,630 | 152,282 | 168,436 | 189,452 | 252,551 | 319,388 | ||
Long-term Debt | 378,227 | 353,456 | 281,256 | 251,225 | 251,224 | 256,225 | 211,663 | 211,656 | ||
Shareholders' Equity | 284,627 | 290,906 | 291,349 | 293,327 | 292,597 | 299,709 | 298,605 | 306,114 | ||
Balance Sheet (Daily Averages): | ||||||||||
Assets | $2,311,571 | $2,355,230 | $2,336,508 | $2,325,582 | $2,330,748 | $2,396,788 | $2,510,549 | $2,770,040 | ||
Earning Assets (1) | 2,148,007 | 2,188,529 | 2,171,864 | 2,164,272 | 2,169,852 | 2,234,485 | 2,339,213 | 2,558,760 | ||
Securities (1) | 500,196 | 492,951 | 492,956 | 515,276 | 548,725 | 580,738 | 568,953 | 571,288 | ||
Loans, Gross | 1,620,031 | 1,648,775 | 1,643,499 | 1,647,140 | 1,620,521 | 1,653,663 | 1,770,260 | 1,987,472 | ||
Deposits | 1,531,354 | 1,578,771 | 1,597,007 | 1,598,356 | 1,598,061 | 1,624,978 | 1,711,484 | 1,919,195 | ||
Shareholders' Equity | 285,041 | 291,984 | 294,918 | 296,085 | 294,636 | 299,290 | 302,809 | 306,368 | ||
(1) Excludes unrealized gains related to securities available for sale. | ||||||||||
S&T Bancorp, Inc. | Page 3 of 3 | |||||||||
Consolidated Selected Financial Data | ||||||||||
December 31, 2002 | ||||||||||
(Dollars in thousands, except per share data) | ||||||||||
2001 | 2002 | Year-to-date | ||||||||
March | June | September | December | March | June | September | December | December | December | |
Profitability Ratios (annualized): | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 2002 | 2001 |
Return on Average Assets | 2.04% | 2.03% | 2.01% | 2.02% | 2.00% | 1.98% | 1.96% | 1.85% | 1.94% | 2.03% |
Return on Average Shareholders' Equity | 16.58% | 16.38% | 15.95% | 15.90% | 15.79% | 15.85% | 16.27% | 16.69% | 16.15% | 16.19% |
Yield on Earning Assets (FTE) | 8.48% | 8.02% | 7.63% | 7.19% | 6.91% | 6.72% | 6.55% | 6.40% | 6.64% | 7.82% |
Cost of Interest Bearing Funds | 4.98% | 4.56% | 4.22% | 3.70% | 3.37% | 3.18% | 2.95% | 2.68% | 3.02% | 4.36% |
Net Interest Margin (FTE) | 4.41% | 4.30% | 4.23% | 4.21% | 4.21% | 4.18% | 4.20% | 4.23% | 4.21% | 4.29% |
Efficiency Ratio (FTE)(1) | 41.20% | 41.01% | 41.19% | 40.74% | 44.49% | 41.03% | 42.02% | 40.55% | 41.94% | 41.04% |
Capitalization Ratios: | ||||||||||
Dividends Paid to Net Income | 50.89% | 49.77% | 52.16% | 51.89% | 55.89% | 53.82% | 51.48% | 49.37% | ||
Shareholders' Equity to Assets (Period End) | 12.09% | 12.31% | 12.70% | 12.44% | 12.38% | 12.35% | 10.75% | 10.84% | ||
Leverage Ratio (2) | 10.62% | 10.61% | 10.83% | 10.98% | 11.03% | 11.18% | 8.87% | 8.42% | ||
Risk Based Capital - Tier I (3) | 12.28% | 12.34% | 12.78% | 12.69% | 12.78% | 12.93% | 9.77% | 9.89% | ||
Risk Based Capital - Tier II (3) | 14.52% | 14.69% | 14.92% | 14.89% | 14.98% | 14.92% | 11.45% | 11.57% | ||
Other Data: | ||||||||||
Shareholders of Record | 3,174 | 3,171 | 3,174 | 3,193 | 3,147 | 3,127 | 3,129 | 3,103 | ||
Number of Banking Offices | 39 | 39 | 40 | 40 | 40 | 40 | 47 | 46 | ||
Definitions: | ||||||||||
(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 |