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Jun 30, 2023
S&T Bancorp Q2 2023 Earnings Report
S&T Bancorp's financial performance remained solid, marked by strong net interest income and well-controlled expenses.
Key Takeaways
S&T Bancorp, Inc. reported a net income of $34.5 million, or $0.89 per diluted share, for the second quarter of 2023. The results reflect solid return metrics and well-controlled expenses, though net interest income saw a slight decrease due to higher funding costs.
Return on average assets (ROA) was 1.51%, return on average equity (ROE) was 11.23%, and return on average tangible equity (ROTE) (non-GAAP) was 16.32%.
Pre-provision net revenue to average assets (PPNR) (non-GAAP) increased 7 basis points to 2.30%.
Net interest margin (NIM) (FTE) (non-GAAP) remained strong at 4.22%.
The efficiency ratio was 48.21%, indicating well-controlled expenses.
S&T Bancorp
S&T Bancorp
Forward Guidance
No specific forward guidance was provided in the earnings report.