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St Bancorp Inc (STBA) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

St Bancorp Inc

HISTORY TOOLS
CIK: 719220 Ticker: STBA

CONTACT:
Mark Kochvar
Chief Financial Officer
724.465.4826
800 Philadelphia St.
Indiana, PA
mark.kochvar@stbank.com
www.stbancorp.com
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FOR IMMEDIATE RELEASE
S&T Bancorp, Inc. Announces Fourth Quarter and Full Year 2020 Results

Indiana, Pa. - January 28, 2021 - S&T Bancorp, Inc. (S&T) (NASDAQ: STBA), the holding company for S&T Bank, with operations in five markets including Western Pennsylvania, Eastern Pennsylvania, Northeast Ohio, Central Ohio, and Upstate New York, announced its fourth quarter and full year 2020 earnings. Net income was $24.2 million, or $0.62 per diluted share, for the fourth quarter compared to net income of $16.7 million, or $0.43 per diluted share, for the third quarter of 2020, and $22.3 million, or $0.62 per diluted share, for the fourth quarter of 2019.

Net income was $21.0 million, or $0.53 per diluted share, for the year ended December 31, 2020 compared to net income of $98.2 million, or $2.82 per diluted share, for 2019. A loss of $58.7 million was recognized during the second quarter of 2020 related to a customer fraud resulting from a check kiting scheme. This fraud loss reduced net income by $46.3 million, or $1.19 per diluted share, for the full year 2020.

Fourth Quarter of 2020 Highlights:
Return on average assets (ROA) was 1.05%, return on average equity (ROE) was 8.35% and return on average tangible equity (ROTE) (non-GAAP) was 12.71%.
•Pre-tax pre-provision to average assets (PTPP) (non-GAAP) was 1.61%.
•Net interest margin (FTE) (non-GAAP) increased 9 basis points to 3.38% compared to 3.29% for the third quarter of
2020.
•Portfolio loans decreased $169.0 million compared to September 30, 2020.
•Deposits decreased $213.3 million compared to September 30, 2020.
•The allowance for credit losses to total portfolio loans was 1.63% at December 31, 2020 compared to 1.64% at September 30, 2020.
•S&T's Board of Directors declared a $0.28 per share dividend which is consistent with the same period last year.
Full Year 2020 Highlights:
•ROA was 0.23%, ROE was 1.80% and ROTE (non-GAAP) was 2.92%. Excluding the loss from the customer fraud
ROA (non-GAAP) was 0.74%, ROE (non-GAAP) was 5.76% and ROTE (non-GAAP) was 8.80%.
•PTPP (non-GAAP) was 1.67%.

- more -
The following information was filed by St Bancorp Inc (STBA) on Thursday, January 28, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside St Bancorp Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Shareholders' Equity
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Net Income
Allowance For Credit Losses
Allowance For Credit Losses (Tables)
Allowance For Credit Losses - Additional Information (Details)
Allowance For Credit Losses - Age Analysis Of Past Due Loans Segregated By Class Of Loans (Details)
Allowance For Credit Losses - Allowance For Credit Loss Activity (Details)
Allowance For Credit Losses - Collateral Dependent Loans By Class Of Loan (Details)
Allowance For Credit Losses - Investments In Loans Considered To Be Impaired And Related Information On Impaired Loans (Details)
Allowance For Credit Losses - Loan Balances By Year Of Origination And Internally Assigned Risk Rating (Details)
Allowance For Credit Losses - Loan Balances By Year Of Origination And Performing And Nonperforming Status (Details)
Allowance For Credit Losses - Loans On Nonaccrual Status And Loans Past Due 90 Days Or More And Still Accruing (Details)
Allowance For Credit Losses - Recorded Investment In Commercial Loan Classes By Internally Assigned Risk Ratings (Details)
Allowance For Credit Losses - Recorded Investment In Consumer Loan Classes By Performing And Nonperforming Status (Details)
Allowance For Credit Losses - Summary Of Allowance For Credit Losses (Details)
Allowance For Credit Losses - Summary Of Allowance For Credit Losses And Recorded Investments (Details)
Business Combinations
Business Combinations (Tables)
Business Combinations - Additional Information (Details)
Business Combinations - Consideration, Assets Acquired And Liabilities Assumed (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Allowance For Credit Losses For Unfunded Loan Commitments (Details)
Commitments And Contingencies - Commitments And Letters Of Credit (Details)
Deposits
Deposits (Tables)
Deposits - Additional Information (Details)
Deposits - Composition Of Deposits And Interest Expenses (Details)
Deposits - Scheduled Maturities Of Certificates Of Deposit (Details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (Tables)
Derivative Instruments And Hedging Activities - Amount Of Gain Or Loss Recognized In Income On Derivatives (Details)
Derivative Instruments And Hedging Activities - Schedule Of Gross Amounts Of Derivative Assets And Derivative Liabilities (Details)
Derivative Instruments And Hedging Activities - Value Of Derivative Assets And Derivative Liabilities (Details)
Dividend And Loan Restrictions
Dividend And Loan Restrictions (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Reconciliation Of Numerators And Denominators Of Basic And Diluted Earnings Per Share (Details)
Employee Benefits
Employee Benefits (Tables)
Employee Benefits - Accumulated Other Comprehensive Income (Loss) (Details)
Employee Benefits - Actuarial Weighted Average Assumptions Used In Determining Benefit Obligation (Details)
Employee Benefits - Actuarial Weighted Average Assumptions Used In Determining Net Periodic Pension Cost (Details)
Employee Benefits - Additional Information (Details)
Employee Benefits - Benefit Obligation And Plan Assets Deriving Funded Status (Details)
Employee Benefits - Components Of Net Periodic Pension Cost And Other Changes In Plan Assets And Benefit Obligation Recognized In Other Comprehensive Income (Loss) (Details)
Employee Benefits - Estimated Future Benefit Payments (Details)
Employee Benefits - Pension Plan Assets Measured At Fair Value On Recurring Basis (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Assets And Liabilities Measured At Fair Value On Recurring Basis (Details)
Fair Value Measurements - Assets Measured At Fair Value On Nonrecurring Basis By Significant Unobservable Inputs (Details)
Fair Value Measurements - Carrying Values And Fair Values Of Financial Instruments (Details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Additional Information (Details)
Goodwill And Other Intangible Assets - Roll Forward Of Goodwill (Details)
Goodwill And Other Intangible Assets - Summary Of Expected Amortization Expense For Finite-Lived Intangibles Assets (Details)
Goodwill And Other Intangible Assets - Summary Of Intangible Assets (Details)
Incentive And Restricted Stock Plan And Dividend Reinvestment Plan
Incentive And Restricted Stock Plan And Dividend Reinvestment Plan (Tables)
Incentive And Restricted Stock Plan And Dividend Reinvestment Plan - Additional Information (Details)
Incentive And Restricted Stock Plan And Dividend Reinvestment Plan - Non-Vested Restricted Stock Granted (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Income Tax Expense (Benefit) (Details)
Income Taxes - Reconciliation Of Change In Federal And State Gross Unrecognized Tax Benefits (Details)
Income Taxes - Significant Components Of Temporary Differences (Details)
Income Taxes - Statutory To Effective Tax Rate Reconciliation (Details)
Loans And Loans Held For Sale
Loans And Loans Held For Sale (Tables)
Loans And Loans Held For Sale - Additional Information (Details)
Loans And Loans Held For Sale - Composition Of Loans (Details)
Loans And Loans Held For Sale - Restructured Loans By Type Of Concession (Details)
Loans And Loans Held For Sale - Restructured Loans For Periods Presented (Details)
Loans And Loans Held For Sale - Summary Of Aggregate Amount Of Loans (Details)
Loans And Loans Held For Sale - Summary Of Nonperforming Assets (Details)
Long-Term Borrowings And Subordinated Debt
Long-Term Borrowings And Subordinated Debt (Tables)
Long-Term Borrowings And Subordinated Debt - Additional Information (Details)
Long-Term Borrowings And Subordinated Debt - Interest Expense And Weighted Average Interest Rates (Details)
Long-Term Borrowings And Subordinated Debt - Junior Subordinated Debt Securities And Interest Expense (Details)
Long-Term Borrowings And Subordinated Debt - Key Terms Of Junior Subordinated Debt Securities (Details)
Long-Term Borrowings And Subordinated Debt - Scheduled Annual Maturities And Average Interest Rates (Details)
Mortgage Servicing Rights
Mortgage Servicing Rights (Tables)
Mortgage Servicing Rights - Additional Information (Details)
Mortgage Servicing Rights - Net Carrying Values (Details)
Parent Company Condensed Financial Information
Parent Company Condensed Financial Information (Tables)
Parent Company Condensed Financial Information - Balance Sheets (Details)
Parent Company Condensed Financial Information - Statements Of Cash Flows (Details)
Parent Company Condensed Financial Information - Statements Of Net Income (Details)
Premises And Equipment
Premises And Equipment (Tables)
Premises And Equipment - Additional Information (Details)
Premises And Equipment - Summary (Details)
Qualified Affordable Housing
Qualified Affordable Housing (Details)
Regulatory Matters
Regulatory Matters (Tables)
Regulatory Matters - Additional Information (Details)
Regulatory Matters - Summary Of Risk-Based Capital Amounts And Ratios (Details)
Restrictions On Cash And Due From Bank Accounts
Restrictions On Cash And Due From Bank Accounts - Additional Information (Details)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Details)
Revenue From Contracts With Customers (Tables)
Right-Of-Use Assets And Lease Liabilities
Right-Of-Use Assets And Lease Liabilities (Tables)
Right-Of-Use Assets And Lease Liabilities - Maturity Analysis Of Lease Liabilities (Details)
Right-Of-Use Assets And Lease Liabilities - Narrative (Details)
Right-Of-Use Assets And Lease Liabilities - Operating Leases And Finance Leases (Details)
Sale Of A Majority Interest Of Insurance Business
Sale Of A Majority Interest Of Insurance Business (Details)
Securities
Securities (Tables)
Securities - Additional Information (Details)
Securities - Amortized Cost And Fair Value Of Available-For-Sale Securities (Details)
Securities - Composition Of Securities (Details)
Securities - Fair Value And Age Of Gross Unrealized Losses By Investment Category (Details)
Securities - Gross And Net Realized Gains And Losses On Sale Of Securities (Details)
Securities - Unrealized Gains (Losses) (Details)
Securities - Unrealized Gains (Losses) On Marketable Securities (Details)
Selected Financial Data
Selected Financial Data (Details)
Selected Financial Data (Tables)
Share Repurchase Plan
Share Repurchase Plan (Details)
Short-Term Borrowings
Short-Term Borrowings (Tables)
Short-Term Borrowings - Additional Information (Details)
Short-Term Borrowings - Balance, Weighted Average And Interest Expense (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Information (Details)
Summary Of Significant Accounting Policies - Estimated Useful Lives For Various Asset (Details)
Summary Of Significant Accounting Policies - Impact Of Asu 2016-13 (Details)
Tax Effects On Other Comprehensive Income (Loss)
Tax Effects On Other Comprehensive Income (Loss) (Details)
Tax Effects On Other Comprehensive Income (Loss) (Tables)
Ticker: STBA
CIK: 719220
Form Type: 10-K Annual Report
Accession Number: 0000719220-21-000018
Submitted to the SEC: Fri Feb 26 2021 9:43:22 PM EST
Accepted by the SEC: Mon Mar 01 2021
Period: Thursday, December 31, 2020
Industry: State Commercial Banks

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