Parent Company Condensed Financial Information

12 Months Ended

Dec. 31, 2018

Condensed Financial Information Disclosure [Abstract]

PARENT COMPANY CONDENSED FINANCIAL INFORMATION

The following condensed financial statements summarize the financial position of S&T Bancorp, Inc. as of December 31, 2018 and 2017 and the results of its operations and cash flows for each of the three years ended December 31, 2018, 2017 and 2016.

BALANCE SHEETS



	December 31,
(dollars in thousands)	2018		2017
ASSETS
Cash	$	8,869	$	21,310
Investments in:
Bank subsidiary	925,286		857,293
Nonbank subsidiaries	15,479		19,569
Other assets	8,458		7,272
Total Assets	$	958,092	$	905,444
LIABILITIES
Long-term debt	$	20,619	$	20,619
Other liabilities	1,712		794
Total Liabilities	22,331		21,413
Total Shareholders’ Equity	935,761		884,031
Total Liabilities and Shareholders’ Equity	$	958,092	$	905,444

STATEMENTS OF NET INCOME



	Years ended December 31,
(dollars in thousands)	2018			2017			2016
Dividends from subsidiaries	$	44,988		$	36,169		$	34,134
Investment income	24			22			17
Total Income	45,012			36,191			34,151
Interest expense on long-term debt	1,149			955			854
Other expenses	3,988			3,801			4,012
Total Expense	5,137			4,756			4,866
Income before income tax and undistributed net income of subsidiaries	39,875			31,435			29,285
Income tax benefit	(1,093		)	(1,596		)	(1,697		)
Income before undistributed net income of subsidiaries	40,968			33,031			30,982
Equity in undistributed net income (distribution in excess of net income) of:
Bank subsidiary	68,385			40,877			40,051
Nonbank subsidiaries	(4,019		)	(940		)	359
Net Income	$	105,334		$	72,968		$	71,392

STATEMENTS OF CASH FLOWS



	Years ended December 31,
(dollars in thousands)	2018			2017			2016
OPERATING ACTIVITIES
Net Income	$	105,334		$	72,968		$	71,392
Equity in undistributed (earnings) losses of subsidiaries	(64,366		)	(39,937		)	(40,410		)
Tax benefit from stock-based compensation	—			—			(9		)
Other	1,695			480			379
Net Cash Provided by Operating Activities	42,663			33,511			31,352
INVESTING ACTIVITIES
Net investments in subsidiaries	—			—			—
Net Cash Used in Investing Activities	—			—			—
FINANCING ACTIVITIES
Sale of treasury shares, net	(657		)	(689		)	(115		)
Purchase of treasury shares	(12,256		)	—			—
Cash dividends paid to common shareholders	(34,539		)	(28,569		)	(26,784		)
Tax benefit from stock-based compensation	—			—			9
Payment to repurchase of warrant	(7,652		)	—			—
Net Cash Used in Financing Activities	(55,104		)	(29,258		)	(26,890		)
Net (decrease) increase in cash	(12,441		)	4,253			4,462
Cash at beginning of year	21,310			17,057			12,595
Cash at End of Year	$	8,869		$	21,310		$	17,057