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Jun 30, 2020
S&T Bancorp Q2 2020 Earnings Report
Announced second quarter 2020 results, which included a net loss due to a customer fraud, while also increasing the dividend.
Key Takeaways
S&T Bancorp, Inc. reported a net loss of ($33.1) million, or ($0.85) per diluted share, for the second quarter of 2020. The results were impacted by a $58.7 million loss related to a customer fraud. However, the company increased its dividend by 3.7% compared to the prior year.
Net loss of ($33.1) million, or ($0.85) per diluted share.
Customer fraud resulted in a loss of $58.7 million.
Deposits increased $810.0 million to $7.9 billion.
Board of Directors declared a $0.28 per share dividend, a 3.7% increase year-over-year.
S&T Bancorp
S&T Bancorp
Forward Guidance
The earnings report does not contain specific forward guidance. It focuses on the impact of COVID-19 and the company's response to support customers.