Parent Company Condensed Financial Information

12 Months Ended

Dec. 31, 2024

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, 2024 and 2023 and the results of its operations and cash flows for each of the three years ended December 31, 2024, 2023 and 2022.

BALANCE SHEETS

	December 31,
(dollars in thousands)	2024		2023
ASSETS
Cash	$	39,304	$	20,733
Investments in:
Bank subsidiary	1,352,177		1,268,441
Nonbank subsidiaries	4,169		4,658
Other assets	9,666		14,695
Total Assets	$	1,405,316	$	1,308,527
LIABILITIES
Long-term debt	$	24,515	$	24,474
Other liabilities	507		608
Total Liabilities	25,022		25,082
Total Shareholders’ Equity	1,380,294		1,283,445
Total Liabilities and Shareholders’ Equity	$	1,405,316	$	1,308,527

STATEMENTS OF NET INCOME

	Years ended December 31,
(dollars in thousands)	2024		2023		2022
Dividends from subsidiaries	$	66,775	$	86,950	$	61,426
Total Income	66,775		86,950		61,426
Interest expense on long-term debt	2,180		2,372		1,545
Other expenses	4,973		4,764		4,112
Total expense	7,153		7,136		5,657
Income before income tax and undistributed net income of subsidiaries	59,622		79,814		55,769
Income tax benefit	(1,309)		(1,478)		(1,208)
Income before undistributed net income of subsidiaries	60,931		81,292		56,977
Equity in undistributed net income (distribution in excess of net income) of:
Bank subsidiary	70,823		63,337		79,566
Nonbank subsidiaries	(489)		152		(1,023)
Net Income	$	131,265	$	144,781	$	135,520

STATEMENTS OF CASH FLOWS

	Years ended December 31,
(dollars in thousands)	2024		2023		2022
OPERATING ACTIVITIES
Net Income	$	131,265	$	144,781	$	135,520
Equity in undistributed (earnings) losses of subsidiaries	(70,334)		(63,489)		(78,543)
Other	9,484		1,402		1,468
Net Cash Provided by Operating Activities	70,415		82,694		58,445
FINANCING ACTIVITIES
Repayment of long term debt	—		(5,464)		—
Repurchase of shares for taxes on restricted stock	(870)		(798)		(808)
Repurchase of common stock	—		(19,808)		(7,637)
Cash dividends paid to common shareholders	(50,974)		(49,708)		(46,952)
Net Cash Used in Financing Activities	(51,844)		(75,778)		(55,397)
Net increase (decrease) in cash	18,571		6,916		3,048
Cash at beginning of year	20,733		13,817		10,769
Cash at End of Year	$	39,304	$	20,733	$	13,817