Loading...
•
Dec 31, 2023
S&T Bancorp Q4 2023 Earnings Report
S&T Bancorp reported an increase in net income and EPS compared to the previous quarter, with strong return metrics and balanced loan and deposit growth.
Key Takeaways
S&T Bancorp, Inc. announced strong fourth quarter and full year 2023 results, with record net income and earnings per share for the second consecutive year. The company reported net income of $37.0 million, or $0.96 per diluted share, for the fourth quarter of 2023, compared to $33.5 million, or $0.87 per diluted share, for the third quarter of 2023.
Net income was $37.0 million, or $0.96 per diluted share.
Return on average assets (ROA) was 1.55%, return on average equity (ROE) was 11.79%, and return on average tangible equity (ROTE) (non-GAAP) was 17.00%.
Total portfolio loans increased $137.4 million, or 7.25% annualized.
Total deposits increased $298.9 million, with $98.2 million of growth in customer deposits and $200.7 million of brokered deposits.