Parent Company Condensed Financial Information

12 Months Ended

Dec. 31, 2020

Condensed Financial Information Disclosure [Abstract]

PARENT COMPANY CONDENSED FINANCIAL INFORMATION

PARENT COMPANY CONDENSED FINANCIAL INFORMATION

The following condensed financial statements summarize the financial position of S&T Bancorp, Inc. as of December 31, 2020 and 2019 and the results of its operations and cash flows for each of the three years ended December 31, 2020, 2019 and 2018.

BALANCE SHEETS

	December 31,
(dollars in thousands)	2020		2019
ASSETS
Cash	$	6,585	$	7,509
Investments in:
Bank subsidiary	1,168,831		1,198,964
Non-bank subsidiaries	10,493		16,393
Other assets	8,614		9,741
Total Assets	$	1,194,523	$	1,232,607
LIABILITIES
Long-term debt	$	39,317	$	39,277
Other liabilities	495		1,332
Total Liabilities	39,812		40,609
Total Shareholders’ Equity	1,154,711		1,191,998
Total Liabilities and Shareholders’ Equity	$	1,194,523	$	1,232,607

STATEMENTS OF NET INCOME

	Years ended December 31,
(dollars in thousands)	2020		2019		2018
Dividends from subsidiaries	$	59,315	$	59,490	$	44,988
Investment income	—		1		24
Total Income	59,315		59,491		45,012
Interest expense on long-term debt	1,696		1,285		1,149
Other expenses	4,464		4,325		3,988
Total Expense	6,160		5,610		5,137
Income before income tax and undistributed net income of subsidiaries	53,155		53,881		39,875
Income tax benefit	(1,315)		(1,189)		(1,093)
Income before undistributed net income of subsidiaries	54,470		55,070		40,968
Equity in undistributed net income (distribution in excess of net income) of:
Bank subsidiary	(27,529)		42,683		68,385
Non-bank subsidiaries	(5,901)		481		(4,019)
Net Income	$	21,040	$	98,234	$	105,334

STATEMENTS OF CASH FLOWS

	Years ended December 31,
(dollars in thousands)	2020		2019		2018
OPERATING ACTIVITIES
Net Income	$	21,040	$	98,234	$	105,334
Equity in undistributed (earnings) losses of subsidiaries	33,430		(43,164)		(64,366)
Other	1,708		(99)		1,695
Net Cash Provided by Operating Activities	56,178		54,971		42,663
INVESTING ACTIVITIES
Net investments in subsidiaries	—		176		—
Acquisitions	—		(10)		—
Net Cash Provided by Investing Activities	—		166		—
FINANCING ACTIVITIES
Sale of treasury shares, net	(594)		(915)		(657)
Purchase of treasury shares	(12,559)		(18,222)		(12,256)
Cash dividends paid to common shareholders	(43,949)		(37,360)		(34,539)
Payment to repurchase of warrant	—		—		(7,652)
Net Cash Used in Financing Activities	(57,102)		(56,497)		(55,104)
Net decrease in cash	(924)		(1,360)		(12,441)
Cash at beginning of year	7,509		8,869		21,310
Cash at End of Year	$	6,585	$	7,509	$	8,869