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Sep 30, 2022
S&T Bancorp Q3 2022 Earnings Report
S&T Bancorp reported record EPS and net income for the third quarter of 2022.
Key Takeaways
S&T Bancorp, Inc. announced a strong third quarter with record earnings per share (EPS) and net income. The company's net income reached $37.2 million, or $0.95 per diluted share, marking a significant increase compared to both the previous quarter and the same quarter of the prior year. The results were driven by net interest income growth and net interest margin expansion.
Record EPS and net income achieved for the third quarter of 2022.
EPS and net income increased more than 28% compared to the second quarter of 2022 and by approximately 35% compared to the third quarter of 2021.
Net interest margin expanded 48 basis points to 4.04% for the third quarter.
Loans, excluding PPP, increased $63.1 million, or 3.6% annualized, with strong consumer loan growth of $113.5 million.
S&T Bancorp
S&T Bancorp
Forward Guidance
S&T's Board of Directors approved a $0.01 per share, or 3.3%, increase in the quarterly cash dividend to $0.31 per share compared to the prior quarter.