Parent Company Condensed Financial Information

12 Months Ended

Dec. 31, 2021

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, 2021 and 2020 and the results of its operations and cash flows for each of the three years ended December 31, 2021, 2020 and 2019.

BALANCE SHEETS

	December 31,
(dollars in thousands)	2021		2020
ASSETS
Cash	$	10,769	$	6,585
Investments in:
Bank subsidiary	1,209,796		1,168,831
Non-bank subsidiaries	5,684		10,493
Other assets	9,993		8,614
Total Assets	$	1,236,242	$	1,194,523
LIABILITIES
Long-term debt	$	29,521	$	39,317
Other liabilities	267		495
Total Liabilities	29,788		39,812
Total Shareholders’ Equity	1,206,454		1,154,711
Total Liabilities and Shareholders’ Equity	$	1,236,242	$	1,194,523

STATEMENTS OF NET INCOME

	Years ended December 31,
(dollars in thousands)	2021		2020		2019
Dividends from subsidiaries	$	62,333	$	59,315	$	59,490
Investment income	—		—		1
Total Income	62,333		59,315		59,491
Interest expense on long-term debt	313		1,696		1,285
Other expenses	5,034		4,464		4,325
Total Expense	5,347		6,160		5,610
Income before income tax and undistributed net income of subsidiaries	56,986		53,155		53,881
Income tax benefit	(1,140)		(1,315)		(1,189)
Income before undistributed net income of subsidiaries	58,126		54,470		55,070
Equity in undistributed net income (distribution in excess of net income) of:
Bank subsidiary	57,025		(27,529)		42,683
Non-bank subsidiaries	(4,808)		(5,901)		481
Net Income	$	110,343	$	21,040	$	98,234

STATEMENTS OF CASH FLOWS

	Years ended December 31,
(dollars in thousands)	2021		2020		2019
OPERATING ACTIVITIES
Net Income	$	110,343	$	21,040	$	98,234
Equity in undistributed (earnings) losses of subsidiaries	(52,217)		33,430		(43,164)
Other	761		1,708		(99)
Net Cash Provided by Operating Activities	58,887		56,178		54,971
INVESTING ACTIVITIES
Net investments in subsidiaries	—		—		176
Acquisitions	—		—		(10)
Net Cash Provided by Investing Activities	—		—		166
FINANCING ACTIVITIES
Repayment of long term debt	(9,750)		—		—
Sale of treasury shares, net	(629)		(594)		(915)
Purchase of treasury shares	—		(12,559)		(18,222)
Cash dividends paid to common shareholders	(44,324)		(43,949)		(37,360)
Payment to repurchase of warrant	—		—		—
Net Cash Used in Financing Activities	(54,703)		(57,102)		(56,497)
Net decrease in cash	4,184		(924)		(1,360)
Cash at beginning of year	6,585		7,509		8,869
Cash at End of Year	$	10,769	$	6,585	$	7,509