S&T Bancorp, Inc. | Page 1 of 3 | ||||||||||||||||
Consolidated Selected Financial Data | |||||||||||||||||
September 30, 2004 | |||||||||||||||||
(Dollars in thousands except per share data) | |||||||||||||||||
2003 | 2004 | ||||||||||||||||
March | June | September | December | March | June | September | September | September | |||||||||
For the period: | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 2004 | 2003 | ||||||||
Interest Income | $39,318 | $38,722 | $36,909 | $36,511 | $35,596 | $36,239 | $37,728 | $109,563 | $114,949 | ||||||||
Interest Expense | 12,924 | 12,380 | 11,439 | 10,323 | 9,506 | 9,548 | 10,549 | 29,603 | 36,743 | ||||||||
Net Interest Income | 26,394 | 26,342 | 25,470 | 26,188 | 26,090 | 26,691 | 27,179 | 79,960 | 78,206 | ||||||||
Taxable Equivalent Adjustment | 999 | 829 | 915 | 930 | 920 | 924 | 927 | 2,769 | 2,743 | ||||||||
Net Interest Income (FTE) | 27,393 | 27,171 | 26,385 | 27,118 | 27,010 | 27,615 | 28,106 | 82,729 | 80,949 | ||||||||
Provision For Loan Losses | 2,400 | 1,900 | 1,500 | 1,500 | 1,500 | 1,900 | 1,500 | 4,900 | 5,800 | ||||||||
Net Interest Income | |||||||||||||||||
After Provisions (FTE) | 24,993 | 25,271 | 24,885 | 25,618 | 25,510 | 25,715 | 26,606 | 77,829 | 75,149 | ||||||||
Security Gains, Net | 1,005 | 1,206 | 1,099 | 4,748 | 1,520 | 1,708 | 1,144 | 4,372 | 3,310 | ||||||||
Service Charges and Fees | 2,192 | 2,268 | 2,335 | 2,457 | 2,232 | 2,359 | 2,316 | 6,906 | 6,795 | ||||||||
Wealth Management | 1,295 | 1,429 | 1,326 | 1,360 | 1,517 | 1,525 | 1,471 | 4,513 | 4,050 | ||||||||
Insurance | 1,059 | 1,017 | 1,071 | 1,130 | 1,076 | 1,115 | 1,219 | 3,410 | 3,147 | ||||||||
Other | 2,162 | 1,645 | 3,426 | 1,974 | 2,048 | 2,474 | 1,814 | 6,336 | 7,233 | ||||||||
Total Other Income | 6,708 | 6,359 | 8,158 | 6,921 | 6,873 | 7,473 | 6,820 | 21,165 | 21,225 | ||||||||
Salaries and Employee Benefits | 7,581 | 7,649 | 8,100 | 8,215 | 8,292 | 8,006 | 8,438 | 24,736 | 23,330 | ||||||||
Occupancy and Equip. Expense, Net | 1,837 | 1,754 | 1,556 | 1,660 | 1,720 | 1,710 | 1,752 | 5,181 | 5,147 | ||||||||
Data Processing Expense | 822 | 811 | 956 | 877 | 999 | 975 | 956 | 2,930 | 2,589 | ||||||||
FDIC Expense | 81 | 76 | 76 | 72 | 73 | 74 | 72 | 219 | 233 | ||||||||
Other | 3,861 | 3,698 | 4,011 | 6,965 | 3,653 | 4,047 | 3,680 | 11,379 | 11,570 | ||||||||
Total Other Expense | 14,182 | 13,988 | 14,699 | 17,789 | 14,737 | 14,812 | 14,898 | 44,445 | 42,869 | ||||||||
Income Before Taxes | 18,524 | 18,848 | 19,443 | 19,498 | 19,166 | 20,084 | 19,672 | 58,921 | 56,815 | ||||||||
Taxable Equivalent Adjustment | 999 | 829 | 915 | 930 | 920 | 924 | 927 | 2,769 | 2,743 | ||||||||
Applicable Income Taxes | 4,987 | 5,243 | 5,251 | 5,382 | 5,290 | 5,588 | 5,468 | 16,346 | 15,481 | ||||||||
Net Income | $12,538 | $12,776 | $13,277 | $13,186 | $12,956 | $13,572 | $13,277 | $39,806 | $38,591 | ||||||||
Per Common Share Data: | |||||||||||||||||
Shares Outstanding at End of Period | 26,323,013 | 26,383,419 | 26,483,219 | 26,652,411 | 26,619,399 | 26,261,769 | 26,513,869 | 26,513,869 | 26,483,219 | ||||||||
Average Shares Outstanding - Diluted | 26,722,098 | 26,613,859 | 26,711,496 | 26,846,050 | 26,950,542 | 26,644,177 | 26,709,616 | 26,767,731 | 26,682,230 | ||||||||
Net Income - Diluted | $0.47 | $0.48 | $0.50 | $0.49 | $0.48 | $0.51 | $0.50 | $1.49 | $1.45 | ||||||||
Dividends Declared | $0.25 | $0.25 | $0.26 | $0.26 | $0.26 | $0.27 | $0.27 | $0.80 | $0.76 | ||||||||
Book Value | $11.56 | $12.10 | $12.12 | $12.48 | $12.74 | $12.25 | $12.77 | $12.77 | $12.12 | ||||||||
Market Value | $25.57 | $27.44 | $28.50 | $29.80 | $30.06 | $31.98 | $35.71 | $35.71 | $28.50 |
S&T Bancorp, Inc. | Page 2 of 3 | ||||||||||||
Consolidated Selected Financial Data | |||||||||||||
September 30, 2004 | |||||||||||||
(Dollars in thousands) | |||||||||||||
2003 | 2004 | ||||||||||||
March | June | September | December | March | June | September | |||||||
Asset Quality Data | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | ||||||
Nonaccrual Loans and Nonperforming Loans | $10,828 | $8,557 | $9,656 | $9,120 | $12,465 | $13,514 | $15,895 | ||||||
Assets acquired through foreclosure | |||||||||||||
or repossession | 2,362 | 2,327 | 2,420 | 2,363 | 2,287 | 521 | 2,822 | ||||||
Nonperforming Assets | 13,190 | 10,884 | 12,076 | 11,483 | 14,752 | 14,035 | 18,717 | ||||||
Allowance for Loan Losses | 29,837 | 31,483 | 31,714 | 31,478 | 32,658 | 32,792 | 32,127 | ||||||
Nonperforming Loans / Loans | 0.53% | 0.42% | 0.47% | 0.43% | 0.57% | 0.60% | 0.69% | ||||||
Allowance for Loan Losses / Loans | 1.47% | 1.55% | 1.54% | 1.50% | 1.50% | 1.46% | 1.40% | ||||||
Allowance for Loan Losses / | |||||||||||||
Nonperforming Loans | 276% | 368% | 328% | 345% | 262% | 243% | 202% | ||||||
Net Loan Charge-offs | 2,701 | 254 | 1,269 | 1,736 | 320 | 1,765 | 2,166 | ||||||
Net Loan Charge-offs (annualized) / | |||||||||||||
Average Loans | 0.55% | 0.05% | 0.25% | 0.33% | 0.06% | 0.32% | 0.38% | ||||||
Balance Sheet (Period-End) | |||||||||||||
Assets | $2,855,658 | $2,915,039 | $2,858,678 | $2,900,272 | $2,956,404 | $3,006,203 | $3,009,776 | ||||||
Earning Assets | 2,665,433 | 2,721,743 | 2,681,074 | 2,711,702 | 2,776,693 | 2,823,231 | 2,829,035 | ||||||
Securities | 641,206 | 688,315 | 625,872 | 611,083 | 592,761 | 576,612 | 536,783 | ||||||
Loans, Gross | 2,024,227 | 2,033,428 | 2,055,202 | 2,100,620 | 2,183,931 | 2,246,619 | 2,292,253 | ||||||
Total Deposits | 1,947,249 | 1,927,035 | 1,937,201 | 1,962,253 | 1,977,330 | 1,976,340 | 2,079,182 | ||||||
Non-Interest Bearing Deposits | 344,010 | 354,701 | 371,413 | 382,364 | 382,110 | 376,471 | 416,748 | ||||||
NOW, Money Market & Savings | 781,690 | 786,225 | 778,985 | 766,031 | 756,965 | 742,582 | 772,783 | ||||||
CD's $100,000 and over | 167,170 | 148,200 | 147,697 | 162,925 | 176,512 | 187,574 | 197,347 | ||||||
Other Time Deposits | 654,380 | 637,909 | 639,106 | 650,933 | 661,743 | 669,713 | 692,304 | ||||||
Short-term borrowings | 302,680 | 339,930 | 327,824 | 432,020 | 463,000 | 542,598 | 456,684 | ||||||
Long-term Debt | 242,191 | 267,195 | 217,192 | 116,891 | 116,890 | 116,894 | 86,328 | ||||||
Shareholder's Equity | 304,312 | 319,342 | 320,936 | 332,718 | 339,095 | 321,625 | 338,575 | ||||||
Balance Sheet (Daily Averages) | |||||||||||||
Assets | $2,823,664 | $2,850,083 | $2,888,415 | $2,854,065 | $2,908,794 | $2,979,134 | $3,002,225 | ||||||
Earning Assets | 2,644,725 | 2,669,664 | 2,702,768 | 2,678,336 | 2,732,315 | 2,798,943 | 2,821,311 | ||||||
Securities | 636,110 | 646,589 | 658,505 | 616,146 | 597,845 | 583,192 | 555,568 | ||||||
Loans, Gross | 2,008,616 | 2,023,006 | 2,044,174 | 2,062,191 | 2,134,470 | 2,215,751 | 2,264,843 | ||||||
Deposits | 1,916,768 | 1,921,525 | 1,927,257 | 1,925,773 | 1,955,025 | 1,982,751 | 2,040,251 | ||||||
Shareholder's Equity | 310,165 | 316,613 | 320,116 | 328,821 | 341,835 | 330,474 | 333,545 |
S&T Bancorp, Inc. | Page 3 of 3 | ||||||||||||||||
Consolidated Selected Financial Data | |||||||||||||||||
September 30, 2004 | |||||||||||||||||
(Dollars in thousands except per share data) | |||||||||||||||||
2003 | 2004 | ||||||||||||||||
March | June | September | December | March | June | September | September | September | |||||||||
Profitability Ratios (annualized) | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 2004 | 2003 | ||||||||
Return on Average Assets | 1.80% | 1.80% | 1.82% | 1.83% | 1.79% | 1.83% | 1.76% | 1.79% | 1.81% | ||||||||
Return on Average Shareholder's Equity | 16.39% | 16.18% | 16.46% | 15.91% | 15.24% | 16.52% | 15.84% | 15.86% | 16.35% | ||||||||
Yield on Earning Assets (FTE) | 6.20% | 5.96% | 5.57% | 5.56% | 5.39% | 5.35% | 5.46% | 5.40% | 5.91% | ||||||||
Cost of Interest Bearing Funds | 2.49% | 2.35% | 2.14% | 1.95% | 1.79% | 1.74% | 1.90% | 1.81% | 2.32% | ||||||||
Net Interest Margin (FTE)(4) | 4.20% | 4.08% | 3.87% | 4.02% | 3.98% | 3.97% | 3.96% | 3.97% | 4.05% | ||||||||
Efficiency Ratio (FTE)(1) | 41.59% | 41.72% | 42.55% | 52.26% | 43.49% | 42.22% | 42.66% | 42.78% | 41.96% | ||||||||
Capitalization Ratios | |||||||||||||||||
Dividends Paid to Net Income | 53.01% | 51.65% | 49.68% | 52.22% | 53.48% | 51.06% | 53.34% | ||||||||||
Shareholder's Equity to Assets (Period End) | 10.66% | 10.95% | 11.23% | 11.47% | 11.47% | 10.70% | 11.25% | ||||||||||
Leverage Ratio (2) | 8.13% | 8.50% | 8.67% | 9.16% | 9.15% | 8.80% | 9.15% | ||||||||||
Risk Based Capital - Tier I (3) | 9.90% | 10.11% | 10.46% | 10.56% | 10.55% | 10.10% | 10.44% | ||||||||||
Risk Based Capital - Tier II (3) | 11.56% | 11.90% | 12.25% | 12.39% | 12.31% | 11.78% | 12.13% | ||||||||||
Other Data | |||||||||||||||||
Shareholders of Record | 3,106 | 3,125 | 3,138 | 3,149 | 3,164 | 3,143 | 3,133 | ||||||||||
Number of Banking Offices | 46 | 46 | 46 | 49 | 49 | 49 | 49 | ||||||||||
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 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. |