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Sep 30, 2020
S&T Bancorp Q3 2020 Earnings Report
Reported net income of $16.7 million, or $0.43 per diluted share, for the third quarter of 2020.
Key Takeaways
S&T Bancorp, Inc. announced net income of $16.7 million, or $0.43 per diluted share, for the third quarter of 2020. This is compared to a net loss of ($33.1) million, or ($0.85) per diluted share, for the second quarter of 2020, and net income of $26.9 million, or $0.79 per diluted share, for the third quarter of 2019.
Return on average assets (ROA) was 0.72%, return on average equity (ROE) was 5.80% and return on average tangible equity (ROTE) (non-GAAP) was 8.96%.
Net interest margin (FTE) (non-GAAP) was stable at 3.29% compared to 3.31% for the second quarter of 2020.
Deposits decreased $234.1 million to $7.6 billion at September 30, 2020 due to the pay down of $269.0 million of brokered deposits during the third quarter.
Mortgage banking revenue increased $1.3 million compared to the second quarter due to continued strong refinance activity.