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Sep 30, 2021
S&T Bancorp Q3 2021 Earnings Report
S&T Bancorp reported a net income of $27.6 million for Q3 2021.
Key Takeaways
S&T Bancorp announced a solid performance for the third quarter of 2021, with a net income of $27.6 million, or $0.70 per diluted share. The company experienced growth in total portfolio loans excluding PPP and solid C&I growth excluding PPP loans.
Return on average assets (ROA) of 1.15%, return on average equity (ROE) of 9.13%, return on average tangible equity (ROTE) (non-GAAP) of 13.53% and pre-tax pre-provision income to average assets (PTPP) (non-GAAP) of 1.56%.
Total portfolio loans excluding PPP increased $117.8 million, or 7.0% annualized, compared to June 30, 2021.
Solid C&I growth excluding PPP loans of $79.5 million, or 21.9% annualized, compared to June 30, 2021 driven by improved utilization and strong new customer activity.
S&T's Board of Directors approved a $0.01 per share, or 3.6%, increase in the quarterly cash dividend to $0.29 per share compared to $0.28 per share dividend declared in the same period in the prior year.