S&T Bancorp, Inc. | Page 1 of 3 | ||||||||||||||
2006 | 2007 | Six Months Ended | |||||||||||||
For the period: | March |
| June |
| September |
| December | March | June | June |
| June | |||
Interest Income | $47,884 | $50,957 | $53,028 | $52,833 | $52,934 | $54,274 | $107,208 | $98,841 | |||||||
Interest Expense | 19,810 | 22,830 | 24,186 | 24,758 | 24,725 | 25,321 | 50,047 | 42,640 | |||||||
Net Interest Income | 28,074 | 28,127 | 28,842 | 28,075 | 28,209 | 28,953 | 57,161 | 56,201 | |||||||
Taxable Equivalent Adjustment | 1,068 | 1,117 | 1,146 | 1,173 | 1,186 | 1,216 | 2,402 | 2,185 | |||||||
Net Interest Income (FTE) | 29,142 | 29,244 | 29,988 | 29,248 | 29,395 | 30,169 | 59,563 | 58,386 | |||||||
Provision For Loan Losses | 1,500 | 5,700 | 1,352 | 828 | 2,178 | 1,305 | 3,483 | 7,200 | |||||||
Net Interest Income After Provisions (FTE) | 27,642 | 23,544 | 28,636 | 28,420 | 27,217 | 28,864 | 56,080 | 51,186 | |||||||
Security Gains, Net | 1,809 | 1,244 | 1,210 | 1,218 | 1,656 | 481 | 2,136 | 3,053 | |||||||
Service Charges and Fees | 2,452 | 2,657 | 2,666 | 2,637 | 2,343 | 2,529 | 4,871 | 5,109 | |||||||
Wealth Management | 2,223 | 2,058 | 1,854 | 1,726 | 1,855 | 1,978 | 3,833 | 4,281 | |||||||
Insurance | 1,738 | 1,572 | 1,759 | 1,569 | 1,894 | 1,792 | 3,686 | 3,310 | |||||||
Other | 2,261 | 2,803 | 2,432 | 2,502 | 2,424 | 2,744 | 5,169 | 5,065 | |||||||
Total Noninterest Income | 8,674 | 9,090 | 8,711 | 8,434 | 8,516 | 9,043 | 17,559 | 17,765 | |||||||
Salaries and Employee Benefits | 9,512 | 9,004 | 8,618 | 10,467 | 9,934 | 10,073 | 20,006 | 18,516 | |||||||
Occupancy and Equip. Expense, Net | 2,087 | 1,962 | 2,194 | 2,155 | 2,261 | 2,447 | 4,708 | 4,049 | |||||||
Data Processing Expense | 1,164 | 1,249 | 1,186 | 1,253 | 1,234 | 1,301 | 2,535 | 2,413 | |||||||
FDIC Expense | 75 | 75 | 77 | 75 | 76 | 77 | 153 | 150 | |||||||
Other | 4,101 | 4,983 | 4,264 | 4,777 | 4,084 | 4,163 | 8,246 | 9,085 | |||||||
Total Noninterest Expense | 16,939 | 17,273 | 16,339 | 18,727 | 17,589 | 18,061 | 35,648 | 34,213 | |||||||
Income Before Taxes | 21,186 | 16,605 | 22,218 | 19,345 | 19,800 | 20,327 | 40,127 | 37,791 | |||||||
Taxable Equivalent Adjustment | 1,068 | 1,117 | 1,146 | 1,173 | 1,186 | 1,216 | 2,402 | 2,185 | |||||||
Applicable Income Taxes | 5,881 | 4,251 | 6,408 | 4,973 | 5,316 | 5,235 | 10,552 | 10,132 | |||||||
Net Income | $14,237 | $11,237 | $14,664 | $13,199 | $13,298 | $13,876 | $27,173 | $25,474 | |||||||
Per Common Share Data: | |||||||||||||||
Shares Outstanding at End of Period | 26,083,980 | 25,690,880 | 25,303,774 | 25,361,274 | 24,897,787 | 24,468,671 | 24,468,671 | 25,690,880 | |||||||
Average Shares Outstanding - Diluted | 26,448,765 | 26,038,892 | 25,753,722 | 25,530,984 | 25,389,584 | 24,847,410 | 25,117,043 | 26,242,794 | |||||||
Net Income - Diluted | $0.54 | $0.43 | $0.57 | $0.52 | $0.52 | $0.56 | $1.08 | $0.97 | |||||||
Dividends Declared | $0.29 | $0.29 | $0.29 | $0.30 | $0.30 | $0.30 | $0.60 | $0.58 | |||||||
Book Value | $13.41 | $13.14 | $13.24 | $13.37 | $13.16 | $12.98 | $12.98 | $13.14 | |||||||
Market Value | $36.58 | $33.23 | $32.50 | $34.67 | $33.04 | $32.90 | $32.90 | $33.23 |
S&T Bancorp, Inc. | Page 2 of 3 | ||||||||||||||
2006 | 2007 | ||||||||||||||
Asset Quality Data | March | June |
| September |
| December | March 1Q | June | |||||||
Nonaccrual Loans and Nonperforming Loans | $13,063 | $21,824 | $15,058 | $19,852 | $19,854 | $14,944 | |||||||||
Assets acquired through foreclosure or repossession | 3,084 | 2,725 | 2,633 | 523 | 606 | 610 | |||||||||
Nonperforming Assets | 16,147 | 24,549 | 17,691 | 20,375 | 20,460 | 15,554 | |||||||||
Allowance for Loan Losses | 37,402 | 38,575 | 32,717 | 33,220 | 35,319 | 35,808 | |||||||||
Nonperforming Loans / Loans | 0.51% | 0.83% | 0.58% | 0.74% | 0.73% | 0.54% | |||||||||
Allowance for Loan Losses / Loans | 1.47% | 1.47% | 1.25% | 1.25% | 1.29% | 1.31% | |||||||||
Allowance for Loan Losses / Nonperforming Loans | 286% | 177% | 217% | 167% | 178% | 240% | |||||||||
Net Loan Charge-offs | 670 | 4,528 | 7,210 | 324 | 78 | 817 | |||||||||
Net Loan Charge-offs (annualized)/ Average Loans | 0.11% | 0.70% | 1.09% | 0.05% | 0.01% | 0.12% | |||||||||
Balance Sheet (Period-End) | |||||||||||||||
Assets | $3,250,246 | $3,301,896 | $3,278,710 | $3,338,543 | $3,376,560 | $3,382,057 | |||||||||
Earning Assets | 3,031,270 | 3,079,808 | 3,048,744 | 3,108,898 | 3,146,934 | 3,141,844 | |||||||||
Securities | 482,453 | 455,367 | 431,490 | 442,607 | 412,384 | 398,612 | |||||||||
Loans, Gross | 2,548,817 | 2,624,441 | 2,617,254 | 2,666,291 | 2,734,550 | 2,743,232 | |||||||||
Total Deposits | 2,470,151 | 2,496,909 | 2,536,092 | 2,565,306 | 2,576,887 | 2,624,495 | |||||||||
Non-Interest Bearing Deposits | 417,315 | 442,203 | 429,547 | 448,453 | 445,176 | 449,623 | |||||||||
NOW, Money Market & Savings | 1,136,810 | 1,169,278 | 1,201,254 | 1,195,640 | 1,209,702 | 1,237,280 | |||||||||
CD's $100,000 and over | 200,055 | 203,966 | 249,070 | 261,646 | 259,390 | 258,311 | |||||||||
Other Time Deposits | 715,972 | 681,462 | 656,221 | 659,567 | 662,619 | 679,281 | |||||||||
Short-term borrowings | 204,487 | 234,232 | 162,351 | 188,021 | 169,552 | 144,342 | |||||||||
Long-term Debt | 171,635 | 186,427 | 186,217 | 196,941 | 246,715 | 246,487 | |||||||||
Shareholder's Equity | 349,896 | 337,598 | 335,011 | 339,051 | 327,710 | 317,707 | |||||||||
Balance Sheet (Daily Averages) | |||||||||||||||
Assets | $3,205,843 | $3,282,972 | $3,285,807 | $3,270,151 | $3,328,405 | $3,358,606 | |||||||||
Earning Assets | 2,999,871 | 3,070,286 | 3,070,573 | 3,055,082 | 3,108,328 | 3,134,253 | |||||||||
Securities | 485,935 | 469,472 | 453,128 | 428,556 | 420,645 | 403,351 | |||||||||
Loans, Gross | 2,513,936 | 2,600,814 | 2,617,445 | 2,619,029 | 2,687,564 | 2,730,618 | |||||||||
Deposits | 2,424,946 | 2,494,841 | 2,518,761 | 2,572,123 | 2,550,819 | 2,578,878 | |||||||||
Shareholder's Equity | 356,341 | 346,351 | 343,176 | 342,303 | 339,168 | 325,966 |
S&T Bancorp, Inc. | Page 3 of 3 | ||||||||||||||
2006 | 2007 | Year-to-date | |||||||||||||
Profitability Ratios (annualized) | March | June |
| September |
| December | March |
| June | June |
| June | |||
|
| ||||||||||||||
Return on Average Assets | 1.80% | 1.37% | 1.77% | 1.60% | 1.62% | 1.66% | 1.64% | 1.58% | |||||||
Return on Average Shareholder's Equity | 16.20% | 13.01% | 16.95% | 15.30% | 15.90% | 17.07% | 16.81% | 14.62% | |||||||
Yield on Earning Assets (FTE) | 6.62% | 6.81% | 7.00% | 7.02% | 7.06% | 7.10% | 7.08% | 6.72% | |||||||
Cost of Interest Bearing Funds | 3.37% | 3.71% | 3.90% | 4.01% | 4.00% | 4.01% | 4.00% | 3.54% | |||||||
Net Interest Margin (FTE)(4) | 3.94% | 3.82% | 3.87% | 3.80% | 3.84% | 3.86% | 3.85% | 3.88% | |||||||
Efficiency Ratio (FTE)(1) | 44.79% | 45.06% | 42.22% | 49.70% | 46.40% | 46.06% | 46.22% | 44.93% | |||||||
Capitalization Ratios | |||||||||||||||
Dividends Paid to Net Income | 53.53% | 67.41% | 50.81% | 56.06% | 57.21% | 53.92% | |||||||||
Shareholder's Equity to Assets (Period End) | 10.77% | 10.22% | 10.22% | 10.16% | 9.71% | 9.39% | |||||||||
Leverage Ratio (2) | 9.28% | 8.75% | 8.57% | 8.82% | 8.38% | 8.06% | |||||||||
Risk Based Capital - Tier I (3) | 10.30% | 9.78% | 9.65% | 9.66% | 9.23% | 8.94% | |||||||||
Risk Based Capital - Tier II (3) | 11.86% | 11.32% | 11.94% | 11.91% | 11.45% | 11.15% | |||||||||
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. |