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Sep 30, 2024
S&T Bancorp Q3 2024 Earnings Report
S&T Bancorp reported net income for Q3 2024, with solid return metrics and continued improvement in asset quality.
Key Takeaways
S&T Bancorp announced net income of $32.6 million, or $0.85 per diluted share, for the third quarter of 2024. The company experienced solid return metrics, including a return on average assets (ROA) of 1.35%, return on average equity (ROE) of 9.58%, and return on average tangible equity (ROTE) of 13.35%. Customer deposit growth was $100.5 million, offset by a decrease in brokered deposits, resulting in a net decrease in total deposits of $25.5 million.
Net income was $32.6 million, or $0.85 per diluted share.
Return on average assets (ROA) was 1.35%.
Customer deposits grew by $100.5 million, or 5.42% annualized.
Allowance for credit losses to total portfolio loans was 1.36%.
S&T Bancorp
S&T Bancorp
Forward Guidance
No specific forward guidance was provided in the earnings report.