2023-07-20 07:41:03 ET
- S&T Bancorp press release ( NASDAQ: STBA ): Q2 GAAP EPS of $0.89 in-line.
- Revenue of $102.31M (+16.5% Y/Y) beats by $1.08M .
- Pre-provision net revenue to average assets (PPNR) (non-GAAP) increased 7 basis points to 2.30% compared to 2.23% for the first quarter of 2023.
- Net interest margin (non-GAAP) remains strong at 4.22% compared to 4.32% in the first quarter of 2023.
- Solid return metrics with return on average assets (ROA) of 1.51%, return on average equity (ROE) of 11.23% and return on average tangible equity ( OTC:ROTE ) (non-GAAP) of 16.32% compared to ROA of 1.77%, ROE of 13.38% and ROTE (non-GAAP) of 19.61% for the first quarter of 2023.
- Total portfolio loans increased $68.5 million, or 3.8% annualized, compared to March 31, 2023.
- Total deposits of $7.1 billion remain relatively unchanged compared to March 31, 2023.
- Nonperforming assets decreased $9.7 million to $18.0 million, or 0.25% of total loans plus OREO, compared to 0.38% at March 31, 2023.
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S&T Bancorp GAAP EPS of $0.89 in-line, revenue of $102.31M beats by $1.08M