株探米国株
英語
エドガーで原本を確認する
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 ______________________________________
FORM 10-Q
______________________________________ 
(Mark One)
☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2026
OR
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from            to                
Commission file number 0-12508
______________________________________ 
S&T BANCORP INC.
(Exact name of registrant as specified in its charter)
______________________________________ 
Pennsylvania
   25-1434426
(State or other jurisdiction of incorporation or organization)   (IRS Employer Identification No.)
800 Philadelphia Street Indiana PA   15701
(Address of principal executive offices)   (zip code)
800-325-2265
(Registrant’s telephone number, including area code)
Not Applicable
(Former name, former address, and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, $2.50 par value STBA NASDAQ Global Select Market
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ☒    No  ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  ☒    No  ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act. 
Large accelerated filer
☒
 Accelerated filer
☐
Non-accelerated filer
☐ 
 Smaller reporting company
☐
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
APPLICABLE ONLY TO CORPORATE ISSUERS:
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practical date.
Common Stock, $2.50 Par Value - 35,976,886 shares as of May 5, 2026


Table of Contents
S&T BANCORP, INC. AND SUBSIDIARIES
    Page No.




1
Table of Contents
S&T BANCORP, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Unaudited)
March 31, 2026 December 31, 2025
(in thousands, except share and per share data) (Unaudited) (Audited)
ASSETS
Cash and due from banks, including interest-bearing deposits of $276,406 and $106,286 at March 31, 2026 and December 31, 2025
 $ 339,059  $ 163,436 
Securities available for sale, at fair value 1,009,518  987,659 
Loans held for sale 694  1,010 
Portfolio loans, net of unearned income 7,959,382  8,071,957 
Allowance for credit losses (93,271) (93,178)
Portfolio loans, net 7,866,111  7,978,779 
Bank owned life insurance 85,991  85,421 
Premises and equipment, net 43,382  43,855 
Federal Home Loan Bank and other restricted stock, at cost 11,724  16,030 
Goodwill 373,424  373,424 
Other intangible assets, net 2,069  2,251 
Other assets 212,031  219,115 
Total Assets $ 9,944,003  $ 9,870,980 
LIABILITIES
Deposits:
Noninterest-bearing demand $ 2,273,411  $ 2,160,645 
Interest-bearing demand 784,326  790,278 
Money market 2,264,777  2,196,998 
Savings 883,213  862,118 
Certificates of deposit 1,979,492  1,948,792 
Total Deposits 8,185,219  7,958,831 
Short-term borrowings 50,000  165,000 
Long-term borrowings 50,794  50,815 
Junior subordinated debt securities 49,493  49,478 
Other liabilities 177,816  182,979 
Total Liabilities 8,513,322  8,407,103 
SHAREHOLDERS’ EQUITY
Common stock ($2.50 par value)
Authorized—50,000,000 shares
Issued—41,449,444 shares at March 31, 2026 and December 31, 2025
Outstanding—36,259,649 shares at March 31, 2026 and 37,402,705 shares at December 31, 2025
 103,623  103,623 
Additional paid-in capital 413,929  412,969 
Retained earnings 1,141,963  1,120,297 
Accumulated other comprehensive loss (47,476) (41,707)
Treasury stock — 5,189,795 shares at March 31, 2026 and 4,046,739 shares at December 31, 2025, at cost
 (181,358) (131,305)
Total Shareholders’ Equity 1,430,681  1,463,877 
Total Liabilities and Shareholders’ Equity $ 9,944,003  $ 9,870,980 
See Notes to Consolidated Financial Statements
2
Table of Contents
S&T BANCORP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Unaudited)

Three Months Ended March 31,
(dollars in thousands, except per share data) 2026 2025
INTEREST AND DIVIDEND INCOME
Loans, including fees $ 115,294  $ 114,340 
Investment Securities:
Taxable 10,760  10,073 
Tax-exempt 34  157 
Dividends 245  278 
Total Interest and Dividend Income
 126,333  124,848 
INTEREST EXPENSE
Deposits 35,686  38,354 
Borrowings, junior subordinated debt securities and other 2,211  3,171 
Total Interest Expense
 37,897  41,525 
NET INTEREST INCOME
 88,436  83,323 
Provision for credit losses 1,327  (3,040)
Net Interest Income After Provision for Credit Losses
 87,109  86,363 
NONINTEREST INCOME
Net loss on sale of securities
 —  (2,295)
Debit and credit card 4,283  4,188 
Service charges on deposit accounts 4,196  3,962 
Investment services and trust 3,369  3,084 
Other 1,794  1,490 
Total Noninterest Income
 13,642  10,429 
NONINTEREST EXPENSE
Salaries and employee benefits 31,356  29,853 
Data processing and information technology 5,158  4,930 
Occupancy 4,592  4,302 
Furniture, equipment and software 3,492  3,483 
Other taxes 2,063  1,494 
Marketing 1,467  1,615 
Professional services and legal 1,245  1,286 
FDIC insurance 1,073  1,040 
Other 6,261  7,088 
Total Noninterest Expense
 56,707  55,091 
Income Before Taxes
 44,044  41,701 
Income tax expense 8,972  8,300 
Net Income
 $ 35,072  $ 33,401 
Earnings per share—basic $ 0.95  $ 0.87 
Earnings per share—diluted $ 0.94  $ 0.87 
Dividends declared per share $ 0.36  $ 0.34 
Comprehensive Income
 $ 29,303  $ 49,758 
See Notes to Consolidated Financial Statements
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S&T BANCORP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
(Unaudited)

Three Months Ended March 31, 2025
(dollars in thousands, except share and per share data) Common
Stock		 Additional
Paid-in
Capital		 Retained
Earnings		 Accumulated
Other
Comprehensive Loss		 Treasury
Stock		 Total
Balance at December 31, 2024 $ 103,623  $ 411,785  $ 1,039,035  $ (76,992) $ (97,157) $ 1,380,294 
Net income for the three months ended March 31, 2025 —  —  33,401  —  —  33,401 
Other comprehensive income, net of tax —  —  —  16,357  —  16,357 
Cash dividends declared ($0.34 per share)
 —  —  (13,069) —  —  (13,069)
Treasury stock issued for restricted stock awards, net of forfeitures (1,850 shares)
 —  (90) —  —  49  (41)
Recognition of restricted stock compensation expense —  1,092  —  —  —  1,092 
Balance at March 31, 2025 $ 103,623  $ 412,787  $ 1,059,367  $ (60,635) $ (97,108) $ 1,418,034 
See Notes to Condensed Consolidated Financial Statements
Three Months Ended March 31, 2026
(dollars in thousands, except share and per share data) Common
Stock		 Additional
Paid-in
Capital		 Retained
Earnings		 Accumulated
Other
Comprehensive Loss		 Treasury
Stock		 Total
Balance at December 31, 2025 $ 103,623  $ 412,969  $ 1,120,297  $ (41,707) $ (131,305) $ 1,463,877 
Net income for the three months ended March 31, 2026 —  —  35,072  —  —  35,072 
Other comprehensive loss, net of tax —  —  —  (5,769) —  (5,769)
Cash dividends declared ($0.36 per share)
 —  —  (13,406) —  —  (13,406)
Treasury stock issued for restricted stock awards, net of forfeitures (3,044 shares)
 —  (149) —  —  121  (28)
Repurchase of S&T stock (1,146,100 shares)
 —  —  —  —  (50,174) (50,174)
Recognition of restricted stock compensation expense —  1,109  —  —  —  1,109 
Balance at March 31, 2026 $ 103,623  $ 413,929  $ 1,141,963  $ (47,476) $ (181,358) $ 1,430,681 
See Notes to Condensed Consolidated Financial Statements
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S&T BANCORP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
Three Months Ended March 31,
(dollars in thousands) 2026 2025
OPERATING ACTIVITIES
Net Cash Provided by Operating Activities
 $ 42,525  $ 28,910 
INVESTING ACTIVITIES
Purchases of securities (62,777) (85,052)
Proceeds from maturities, prepayments and calls of securities 34,173  29,665 
Proceeds from sales of securities —  47,038 
Redemptions of Federal Home Loan Bank stock
 4,306  1,786 
Net decrease (increase) in loans
 110,951  (93,312)
Purchases of premises and equipment, net of proceeds from sales
 (969) (1,726)
Net payments from cash flow hedge (889) (2,031)
Net Cash Provided by (Used in) Investing Activities
 84,795  (103,632)
FINANCING ACTIVITIES
Net increase (decrease) in demand, money market and savings deposits
 195,688  154,147 
Net increase (decrease) in certificates of deposit
 30,700  (44,331)
Net increase (decrease) in short-term borrowings (115,000) (55,000)
Repayments on long-term borrowings (21) (20)
Repurchase of shares for taxes on restricted stock (28) (41)
Cash dividends paid to common shareholders (13,358) (13,017)
Repurchase of common stock (49,678) — 
Net Cash Provided by Financing Activities
 48,303  41,738 
Net increase (decrease) in cash and due from banks
 175,623  (32,984)
Cash and due from banks at beginning of period 163,436  244,820 
Cash and Due From Banks at End of Period $ 339,059  $ 211,836 
Supplemental Disclosures
Right of use assets obtained in exchange for lease obligations $ —  $ 2,400 
Cash paid for interest $ 38,187  $ 44,058 
Cash paid for state income taxes, net of refunds
 $ 135  $ 93 
See Notes to Consolidated Financial Statements

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S&T BANCORP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1. BASIS OF PRESENTATION
Principles of Consolidation
The interim Condensed Consolidated Financial Statements include the accounts of S&T Bancorp, Inc., or S&T, and its wholly owned subsidiaries. All significant intercompany transactions have been eliminated in consolidation. Investments of 20 percent to 50 percent of the outstanding common stock of investees are accounted for using the equity method of accounting.
Basis of Presentation
The accompanying unaudited interim Condensed Consolidated Financial Statements of S&T have been prepared in accordance with generally accepted accounting principles, or GAAP, in the United States for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2025, or 2025 Form 10-K, filed with the Securities and Exchange Commission, or SEC. In the opinion of management, the accompanying interim financial information reflects all adjustments, consisting of normal recurring adjustments, necessary to present fairly our financial position and the results of operations for each of the interim periods presented. Results of operations for interim periods are not necessarily indicative of the results of operations that may be expected for a full year or any future period.
Reclassification
Amounts in prior period financial statements and footnotes are reclassified whenever necessary to conform to the current period presentation. Reclassifications had no effect on our condensed consolidated financial statements.
Use of Estimates
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.
Segments

We have one operating segment, Community Banking, based upon our current reporting structure at the consolidated level. The chief operating decision maker, or CODM, uses consolidated net income when allocating resources and making operating decisions. The accounting policies used to measure the profit and loss of the Community Banking segment are the same as those described in the summary of significant accounting policies in our 2025 Form 10-K. The CODM does not review segment revenue or expense information at a lower level than what is included in our Consolidated Statements of Net Income. Expenses included within other expenses in the Condensed Consolidated Statements of Comprehensive Income include loan related expenses, travel and entertainment, insurance expenses and contributions.
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S&T BANCORP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Recently Adopted Accounting Standards Updates, or ASU, or Updated
There were no recently adopted accounting standards updates in the first quarter of 2026.
Recently Issued Accounting Standards Not Yet Adopted
Income Statement (Subtopic 220-40)—Reporting Comprehensive Income—Expense Disaggregation Disclosures
In November 2024, the FASB issued ASU 2024-03, Income Statement (Subtopic 220-40)—Reporting Comprehensive Income—Expense Disaggregation Disclosures to improve the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions. The amendments in this update are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. This ASU will not impact our consolidated financial statements and we are currently evaluating the impact of the new disclosure requirements.
Interim Reporting (Topic 270)—Narrow-Scope Improvements
In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270)—Narrow-Scope Improvements to improve the navigability of the required interim disclosures and clarify when the guidance is applicable. The amendments also provide additional guidance on what disclosures should be provided in interim reporting periods. The amendments add to Topic 270 a principle that requires entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. The amendments in this update are effective for annual reporting period beginning after December 15, 2027, and interim reporting periods beginning after December 15, 2028. Early adoption is permitted. This ASU is not expected to have a material impact on disclosures.
NOTE 2. EARNINGS PER SHARE
The treasury stock method was used to determine earnings per share for the three months ended March 31, 2026 and 2025.
The following table reconciles the numerators and denominators of basic and diluted EPS calculations for the periods presented:
Three Months Ended March 31,
(in thousands, except share and per share data) 2026 2025
Numerator for Earnings per Share—Basic and Diluted:
Net income—Basic and Diluted $ 35,072  $ 33,401 
Denominator for Earnings per Share:
Weighted Average Shares Outstanding—Basic 36,856,572  38,260,746 
Add: Potentially dilutive shares 321,316  338,910 
Denominator—Diluted 37,177,888  38,599,656 
Earnings per share—basic $ 0.95  $ 0.87 
Earnings per share—diluted $ 0.94  $ 0.87 
Restricted stock considered anti-dilutive excluded from potentially dilutive shares 142  — 
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S&T BANCORP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 3. FAIR VALUE MEASUREMENTS
We use fair value measurements when recording and disclosing certain financial assets and liabilities. Debt securities, equity securities, securities held in a deferred compensation plan and derivative financial instruments are recorded at fair value on a recurring basis. Additionally, from time to time, we may be required to record other financial instruments at fair value on a nonrecurring basis, such as loans held for sale, loans individually evaluated, other real estate owned, or OREO, and other repossessed assets, mortgage servicing rights, or MSRs, and certain other assets.
Fair value is the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants at the measurement date. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities; it is not a forced transaction. In determining fair value, we use various valuation approaches, including market, income and cost approaches. The fair value standard establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing an asset or liability which are developed based on market data that we have obtained from independent sources. Unobservable inputs reflect our estimates of assumptions that market participants would use in pricing an asset or liability which are developed based on the best information available in the circumstances.
The fair value hierarchy gives the highest priority to unadjusted quoted market prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The fair value hierarchy is broken down into three levels based on the reliability of inputs as follows.
Level 1: valuation is based upon unadjusted quoted market prices for identical instruments traded in active markets.
Level 2: valuation is based upon quoted market prices for similar instruments traded in active markets, quoted market prices for identical or similar instruments traded in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by market data.
Level 3: valuation is derived from other valuation methodologies, including discounted cash flow models and similar techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in determining fair value.
A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.
There have been no changes in our valuation methodologies during the three months ended March 31, 2026. Refer to Note 1. Summary of Significant Accounting Policies of the Notes to Consolidated Financial Statements in our 2025 Form 10-K for more information on the valuation methodologies that we use for financial instruments recorded at fair value on a recurring or nonrecurring basis.
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S&T BANCORP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Assets and Liabilities Recorded at Fair Value on a Recurring Basis
The following tables present our assets and liabilities that are measured at fair value on a recurring basis by fair value hierarchy level at the dates presented:
March 31, 2026
(dollars in thousands) Level 1 Level 2 Level 3 Total
ASSETS
Available-for-sale debt securities:
U.S. Treasury securities $ 84,161  $ —  $ —  $ 84,161 
Collateralized mortgage obligations of U.S. government corporations and agencies(1)
 —  626,502  —  626,502 
Residential mortgage-backed securities of U.S. government corporations and agencies(1)
 —  33,094  —  33,094 
Commercial mortgage-backed securities of U.S. government corporations —  259,505  —  259,505 
Obligations of states and political subdivisions —  4,878  —  4,878 
Total Available-for-Sale Debt Securities 84,161  923,979  —  1,008,140 
Equity securities 1,378  —  —  1,378 
Total Securities Available for Sale 85,539  923,979  —  1,009,518 
Securities held in a deferred compensation plan 9,453  —  —  9,453 
Derivative financial assets:
Interest rate swap contracts - commercial loans —  32,943  —  32,943 
Interest rate lock commitments - mortgage loans —  —  34  34 
Total Assets $ 94,992  $ 956,922  $ 34  $ 1,051,948 
LIABILITIES
Derivative financial liabilities:
Interest rate swap contracts - commercial loans $ —  $ 33,200  $ —  $ 33,200 
Interest rate swap contracts - cash flow hedge —  1,868  —  1,868 
Total Liabilities $ —  $ 35,068  $ —  $ 35,068 
(1)Collateralized mortgage obligations and residential mortgage backed securities consist primarily of securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae.

December 31, 2025
(dollars in thousands) Level 1 Level 2 Level 3 Total
ASSETS
Available-for-sale debt securities:
U.S. Treasury securities $ 84,507  $ —  $ —  $ 84,507 
Collateralized mortgage obligations of U.S. government corporations and agencies(1)
 —  624,263  —  624,263 
Residential mortgage-backed securities of U.S. government corporations and agencies(1)
 —  31,336  —  31,336 
Commercial mortgage-backed securities of U.S. government corporations —  241,262  —  241,262 
Obligations of states and political subdivisions —  4,909  —  4,909 
Total Available-for-Sale Debt Securities 84,507  901,770  —  986,277 
Equity securities 1,382  —  —  1,382 
Total Securities Available for Sale 85,889  901,770  —  987,659 
Securities held in a deferred compensation plan 14,212  —  —  14,212 
Derivative financial assets:
Interest rate swap contracts - commercial loans —  33,669  —  33,669 
Interest rate lock commitments - mortgage loans —  —  81  81 
Total Assets $ 100,101  $ 935,439  $ 81  $ 1,035,621 
LIABILITIES
Derivative financial liabilities:
Interest rate swap contracts - commercial loans $ —  $ 33,990  $ —  $ 33,990 
Interest rate swap contracts - cash flow hedge —  2,024  —  2,024 
Total Liabilities $ —  $ 36,014  $ —  $ 36,014 
(1)Collateralized mortgage obligations and residential mortgage backed securities consist primarily of securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae.
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S&T BANCORP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Assets Recorded at Fair Value on a Nonrecurring Basis
We may be required to measure certain assets and liabilities at fair value on a nonrecurring basis. These assets and liabilities are recorded at the lower of cost or fair value in our consolidated financial statements and are remeasured only when events or circumstances indicate impairment. At March 31, 2026, individually evaluated loans of $1.7 million were measured at fair value on a nonrecurring basis and classified as Level 3 and individually evaluated loans of $1.2 million were measured at fair value and classified as Level 2. At December 31, 2025 individually evaluated loans of $10.6 million were classified as Level 3 and $5.3 million were classified as Level 2. There were no liabilities measured at fair value on a nonrecurring basis as of both March 31, 2026 and December 31, 2025.
Significant unobservable inputs used in the fair value measurements of Level 3 assets on a nonrecurring basis at March 31, 2026 and December 31, 2025 were as follows:
(dollars in thousands) March 31, 2026 Valuation Technique
Significant Unobservable Inputs(1)
Collateral Adjustment(2)
Loans individually evaluated $1,689 Collateral based valuation Collateral adjustments 74%
(1)Represents discount adjustments to collateral values related to anticipated collection rates of accounts receivable based on management judgment.
(2)Represents the collateral adjustment of one loan.
(dollars in thousands) December 31, 2025 Valuation Technique
Significant Unobservable Inputs(1)
Collateral Adjustment(2)
Loans individually evaluated $10,641 Collateral based valuation Collateral adjustments 10%
(1)Represents discount adjustments to collateral values related to anticipated collection rates of accounts receivable based on management judgment.
(2)Represents the collateral adjustment of one loan.
Fair Value of Financial Instruments
The following tables present the carrying values and fair values of our financial instruments at the dates presented:
Carrying
Value(1)
 Fair Value Measurements at March 31, 2026
(dollars in thousands) Total Level 1 Level 2 Level 3
ASSETS
Cash and due from banks, including interest-bearing deposits $ 339,059  $ 339,059  $ 339,059  $ —  $ — 
Securities available for sale 1,009,518  1,009,518  85,539  923,979  — 
Loans held for sale 694  694  —  694  — 
Portfolio loans, net 7,866,111  7,687,285  —  —  7,687,285 
Securities held in a deferred compensation plan 9,453  9,453  9,453  —  — 
Mortgage servicing rights 4,958  8,033  —  —  8,033 
Interest rate swap contracts - commercial loans 32,943  32,943  —  32,943  — 
Interest rate lock commitments - mortgage loans 34  34  —  —  34 
LIABILITIES
Deposits $ 8,185,219  $ 8,180,325  $ 6,205,727  $ 1,974,598  $ — 
Collateral payable 31,087  31,087  31,087  —  — 
Short-term borrowings 50,000  50,000  —  50,000  — 
Long-term borrowings 50,794  50,793  —  50,793  — 
Junior subordinated debt securities 49,493  49,493  —  49,493  — 
Interest rate swap contracts - commercial loans 33,200  33,200  —  33,200  — 
Interest rate swap contracts - cash flow hedge 1,868  1,868  —  1,868  — 
(1) As reported in the Consolidated Balance Sheets
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S&T BANCORP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Carrying
Value(1)
 Fair Value Measurements at December 31, 2025
(dollars in thousands) Total Level 1 Level 2 Level 3
ASSETS
Cash and due from banks, including interest-bearing deposits $ 163,436  $ 163,436  $ 163,436  $ —  $ — 
Securities available for sale 987,659  987,659  85,889  901,770  — 
Loans held for sale 1,010  1,010  —  1,010 
Portfolio loans, net 7,978,779  7,807,824  —  —  7,807,824 
Collateral receivable 2  2  2  —  — 
Securities held in a deferred compensation plan 14,212  14,212  14,212  —  — 
Mortgage servicing rights 5,034  8,034  —  —  8,034 
Interest rate swaps - commercial loans 33,669  33,669  —  33,669  — 
Interest rate lock commitments 81  81  —  —  81 
LIABILITIES
Deposits $ 7,958,831  $ 7,956,632  $ 6,010,039  $ 1,946,593  $ — 
Collateral payable 26,964  26,964  26,964  —  — 
Short-term borrowings 165,000  165,000  —  165,000  — 
Long-term borrowings 50,815  50,856  —  50,856  — 
Junior subordinated debt securities 49,478  49,478  —  49,478  — 
Interest rate swaps - commercial loans 33,990  33,990  —  33,990  — 
Interest rate swaps - cash flow hedge 2,024  2,024  —  2,024  — 
(1) As reported in the Consolidated Balance Sheets
NOTE 4. SECURITIES
The following table presents the fair values of our securities portfolio at the dates presented:
(dollars in thousands) March 31, 2026 December 31, 2025
Debt securities $ 1,008,140  $ 986,277 
Equity securities 1,378  1,382 
Total Securities Available for Sale $ 1,009,518  $ 987,659 
The following table presents the amortized cost and fair value of available-for-sale debt securities at the dates presented:
  March 31, 2026 December 31, 2025
(dollars in thousands) Amortized
Cost		 Gross
Unrealized
Gains		 Gross
Unrealized
Losses		 Fair
Value		 Amortized
Cost		 Gross
Unrealized
Gains		 Gross
Unrealized
Losses		 Fair
Value
U.S. Treasury securities $ 86,125  $ 92  $ (2,056) $ 84,161  $ 86,381  $ 110  $ (1,984) $ 84,507 
Collateralized mortgage obligations of U.S. government corporations and agencies(2)
 658,717  2,068  (34,283) 626,502  650,314  4,961  (31,012) 624,263 
Residential mortgage-backed securities of U.S. government corporations and agencies(2)
 37,690  6  (4,602) 33,094  35,994  7  (4,665) 31,336 
Commercial mortgage-backed securities of U.S. government corporations 263,458  1,408  (5,361) 259,505  243,571  2,411  (4,720) 241,262 
Obligations of states and political subdivisions 4,875  3  —  4,878  4,902  7  —  4,909 
Total Available-for-Sale Debt Securities(1)
 $ 1,050,865  $ 3,577  $ (46,302) $ 1,008,140  $ 1,021,162  $ 7,496  $ (42,381) $ 986,277 
(1) Excludes interest receivable of $3.2 million at March 31, 2026 and $3.3 million at December 31, 2025. Interest receivable is included in other assets in the Consolidated Balance Sheets.
(2)Collateralized mortgage obligations and residential mortgage backed securities consist primarily of securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae.

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S&T BANCORP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The following tables present the fair value and the age of gross unrealized losses on available-for-sale debt securities by investment category at the dates presented:
March 31, 2026
Less Than 12 Months 12 Months or More Total
(dollars in thousands) Number of Securities Fair Value Unrealized
Losses		 Number of Securities Fair Value Unrealized
Losses		 Number of Securities Fair Value Unrealized
Losses
U.S. Treasury securities — $ —  $ —  7 $ 69,192  $ (2,056) 7 $ 69,192  $ (2,056)
Collateralized mortgage obligations of U.S. government corporations and agencies 18 153,665  (1,564) 53 271,532  (32,719) 71 425,197  (34,283)
Residential mortgage-backed securities of U.S. government corporations and agencies 1 2,502  (24) 12 30,433  (4,578) 13 32,935  (4,602)
Commercial mortgage-backed securities of U.S. government corporations 6 59,409  (663) 8 93,768  (4,698) 14 153,177  (5,361)
Total 25 $ 215,576  $ (2,251) 80 $ 464,925  $ (44,051) 105 $ 680,501  $ (46,302)
December 31, 2025
Less Than 12 Months 12 Months or More Total
(dollars in thousands) Number of Securities Fair Value Unrealized
Losses		 Number of Securities Fair Value Unrealized
Losses		 Number of Securities Fair Value Unrealized
Losses
U.S. Treasury securities — $ —  $ —  7 $ 69,409  $ (1,984) 7 $ 69,409  $ (1,984)
Collateralized mortgage obligations of U.S. government corporations and agencies 4 34,993  (52) 55 299,732  (30,960) 59 334,725  (31,012)
Residential mortgage-backed securities of U.S. government corporations and agencies — —  —  15 31,171  (4,665) 15 31,171  (4,665)
Commercial mortgage-backed securities of U.S. government corporations
 1 9,943  (29) 10 114,107  (4,691) 11 124,050  (4,720)
Total 5 $ 44,936  $ (81) 87 $ 514,419  $ (42,300) 92 $ 559,355  $ (42,381)
We evaluate securities with unrealized losses quarterly to determine if the decline in fair value has resulted from credit impairment or other factors. We do not believe any individual unrealized loss as of March 31, 2026 represents a credit impairment. The unrealized losses on debt securities were attributable to changes in interest rates and not related to the credit quality of the issuers. All debt securities were determined to be investment grade and paying principal and interest according to the contractual terms of the security. As of March 31, 2026, we do not intend to sell, and it is more likely than not that we will not be required to sell, the securities in an unrealized loss position before recovery of their amortized cost.
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S&T BANCORP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The following table presents net unrealized gains and losses, net of tax, on available-for-sale debt securities included in accumulated other comprehensive loss, for the periods presented:
March 31, 2026 December 31, 2025
(dollars in thousands) Gross Unrealized Gains Gross Unrealized Losses Net Unrealized Losses Gross Unrealized Gains Gross Unrealized Losses Net Unrealized Losses
Total unrealized gains (losses) on available-for-sale debt securities $ 3,577  $ (46,302) $ (42,725) $ 7,496  $ (42,381) $ (34,885)
Income tax (expense) benefit (770) 9,967  9,197  (1,614) 9,123  7,509 
Net Unrealized Losses, Net of Tax Included in Accumulated Other Comprehensive Loss $ 2,807  $ (36,335) $ (33,528) $ 5,882  $ (33,258) $ (27,376)
The amortized cost and fair value of available-for-sale debt securities at March 31, 2026 by contractual maturity are included in the table below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.
March 31, 2026
(dollars in thousands) Amortized Cost Fair Value
Obligations of the U.S. Treasury, U.S. government corporations and agencies and obligations of states and political subdivisions
Due in one year or less $ 30,083  $ 30,036 
Due after one year through five years 51,022  49,075 
Due after five years through ten years 9,895  9,928 
Due after ten years —  — 
Available-for-Sale Debt Securities With Fixed Maturities 91,000  89,039 
Debt Securities without a single maturity date
Collateralized mortgage obligations of U.S. government corporations and agencies 658,717  626,502 
Residential mortgage-backed securities of U.S. government corporations and agencies 37,690  33,094 
Commercial mortgage-backed securities of U.S. government corporations 263,458  259,505 
Total Available-for-Sale Debt Securities $ 1,050,865  $ 1,008,140 
Debt securities are pledged in order to meet various regulatory and legal requirements. Restricted pledged securities had a carrying value of $37.2 million at March 31, 2026 and $38.3 million at December 31, 2025. Unrestricted pledged securities had a carrying value of $208.0 million at March 31, 2026 and $202.0 million at December 31, 2025. Any sales or changes to the pledged status of restricted pledged securities requires approval of the beneficiary. Approval is not required in order to sell or make changes to the pledged status for unrestricted pledged securities.
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S&T BANCORP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 5. LOANS AND ALLOWANCE FOR CREDIT LOSSES
Loans and Loans Held for Sale
Loans are presented net of unearned income. Unearned income consisted of net deferred loan fees and costs of $4.1 million at March 31, 2026 and $4.8 million at December 31, 2025 and a discount related to purchase accounting fair value adjustments of $1.9 million at March 31, 2026 and $2.0 million at December 31, 2025.
The following table summarizes the composition of our loan portfolio at the dates presented:
(dollars in thousands) March 31, 2026 December 31, 2025
Commercial real estate $ 2,836,088  $ 2,921,761 
Commercial and industrial 1,321,544  1,330,605 
Commercial construction 391,584  365,377 
Business banking 1,299,414  1,315,863 
Consumer real estate 2,026,801  2,047,071 
Other consumer 83,951  91,280 
Total Portfolio Loans $ 7,959,382  $ 8,071,957 
Loans held for sale 694  1,010 
Total Loans(1)
 $ 7,960,076  $ 8,072,967 
(1)Excludes interest receivable of $32.4 million at March 31, 2026 and $33.4 million at December 31, 2025. Interest receivable is included in other assets in the Consolidated Balance Sheets.
Modifications to Borrowers Experiencing Financial Difficulty
The following tables present the amortized cost of loans to borrowers experiencing financial difficulty by portfolio segment and type of modification during the periods presented:
Three Months Ended March 31, 2026
(dollars in thousands) Term Extension Term Extension and Payment Delays Total % of Portfolio Segment
Commercial and industrial $ 5,631  $ 13,753  $ 19,384  1.47  %
Business banking 25  —  25  —  %
Consumer real estate 138  —  138  0.01  %
Total
 $ 5,794  $ 13,753  $ 19,547  0.25  %
Three Months Ended March 31, 2025
(dollars in thousands) Term Extension Term Extension and Payment Delays Total % of Portfolio Segment
Commercial and industrial $ —  $ 2,092  $ 2,092  0.16  %
Commercial construction —  1,006  1,006  0.27  %
Consumer real estate 265  640  905  0.05  %
Total
 $ 265  $ 3,738  $ 4,003  0.05  %
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S&T BANCORP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The following tables describe the effect of loan modifications made to borrowers experiencing financial difficulty during the periods presented:
Three Months Ended March 31, 2026
Weighted-Average Term Extension (in months) Weighted-Average Term Extension and Payment Delays (in months)
Commercial and industrial 10 3
Business banking 12 — 
Consumer real estate 346 — 
Three Months Ended March 31, 2025
Weighted-Average Term Extension (in months) Weighted-Average Term Extension and Payment Delays (in months)
Commercial and industrial —  13
Commercial construction —  13
Consumer real estate 122 15
We closely monitor the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of the modification efforts.
The following tables present an aging analysis since the date of modification for loans to borrowers experiencing financial difficulty that were modified in the last 12 months as of the dates presented:
March 31, 2026
(dollars in thousands) Current 30-59 Days Past Due 60-89 Days Past Due 90+ Days Past Due Total
Commercial and industrial $ 22,976  $ 11,701  $ —  $ 3,375  $ 38,052 
Business banking 25  —  —  —  25 
Consumer real estate 454  —  —  —  454 
Total $ 23,455  $ 11,701  $ —  $ 3,375  $ 38,531 
March 31, 2025
(dollars in thousands) Current 30-59 Days Past Due 60-89 Days Past Due 90+ Days Past Due Total
Commercial real estate $ 616  $ —  $ —  $ —  $ 616 
Commercial and industrial 16,536  —  —  3,778  20,314 
Commercial construction —  1,006  —  —  1,006 
Consumer real estate 1,128  224  40  —  1,392 
Total $ 18,280  $ 1,230  $ 40  $ 3,778  $ 23,328 
A payment default is defined as a loan having a payment past due 90 days or more. There was one payment default on previously modified loans to borrowers experiencing financial difficulty in the amount of $3.4 million during the three months ended March 31, 2026 compared to one payment default in the amount of $3.8 million during the same period in 2025. Additionally, we had thirteen commitments to lend an additional $1.3 million to borrowers experiencing financial difficulty that had a modification during the twelve months ended March 31, 2026 and ten commitments to lend an additional $0.5 million to borrowers experiencing financial difficulty that had a modification during the same period in 2025.
The effect of modifications made to borrowers experiencing financial difficulty is already included in the allowance for credit losses, or ACL, because of the measurement methodologies used to estimate the ACL, therefore, a change to the ACL is generally not recorded upon modification. If principal forgiveness is provided, that portion of the loan will be charged-off, resulting in a reduction of the amortized cost basis and a corresponding adjustment to the ACL. An assessment of whether the borrower is experiencing financial difficulty is made on the date of a modification.
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S&T BANCORP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Allowance for Credit Losses
We maintain an ACL, at a level determined to be adequate to absorb estimated expected credit losses within the loan portfolio over the contractual life of an instrument that considers our historical loss experience, current conditions and forecasts of future economic conditions as of the balance sheet date. We develop and document a systematic ACL methodology based on the following portfolio segments: 1) CRE, 2) C&I, 3) Commercial Construction, 4) Business Banking, 5) Consumer Real Estate and 6) Other Consumer.
The following are key risks within each portfolio segment:
CRE—Loans secured by commercial purpose real estate, including both owner-occupied properties and investment properties for various purposes such as hotels, retail, multifamily and health care. Operations of the individual projects and global cash flows of the debtors are the primary sources of repayment for these loans. The condition of the local economy is an important indicator of risk, but there are also more specific risks depending on the collateral type and the business prospects of the lessee, if the project is not owner-occupied.
C&I—Loans made to operating companies or manufacturers for the purpose of production, operating capacity, accounts receivable, inventory or equipment financing. Cash flow from the operations of the company is the primary source of repayment for these loans. The condition of the local economy is an important indicator of risk, but there are also more specific risks depending on the industry of the company. Collateral for these types of loans often does not have sufficient value in a distressed or liquidation scenario to satisfy the outstanding debt.
Commercial Construction—Loans made to finance construction of buildings or other structures, as well as to finance the acquisition and development of raw land for various purposes. While these loans are generally confined to the construction period, if there are problems, the project may not be completed, and as such, may not provide sufficient cash flow on its own to service the debt or have sufficient value in a liquidation to cover the outstanding principal. The condition of the local economy is an important indicator of risk, but there are also more specific risks depending on the type of project and the experience and resources of the developer.
Business Banking—Commercial purpose loans made to small businesses that are standard, non-complex products evaluated through a streamlined credit approval process that has been designed to maximize efficiency while maintaining high credit quality standards that meet small business market customers’ needs. The business banking portfolio is monitored by utilizing a standard and closely managed process focusing on behavioral and performance criteria. The condition of the local economy is an important indicator of risk, but there are also more specific risks depending on the collateral type and business.
Consumer Real Estate—Loans secured by first and second liens such as 1-4 family residential mortgages, home equity loans and home equity lines of credit. The primary source of repayment for these loans is the income and assets of the borrower. The condition of the local economy, in particular the unemployment rate, is an important indicator of risk for this segment. The state of the local housing market can also have a significant impact on this segment because low demand and/or declining home values can limit the ability of borrowers to sell a property and satisfy the debt.
Other Consumer—Loans made to individuals that may be secured by assets other than 1-4 family residences, as well as unsecured loans. This segment includes auto loans, unsecured loans and lines of credit. The primary source of repayment for these loans is the income and assets of the borrower. The condition of the local economy, in particular the unemployment rate, is an important indicator of risk for this segment. The value of the collateral, if there is any, is less likely to be a source of repayment due to less certain collateral values.
Management monitors various credit quality indicators for the commercial, business banking and consumer loan portfolios, including changes in risk ratings, nonperforming status and delinquency on a monthly basis.
We monitor the commercial and business banking loan portfolio through an internal risk rating system. Loan risk ratings are assigned based upon the creditworthiness of the borrower and are reviewed on an ongoing basis according to our internal policies. Loans within the pass rating generally have a lower risk of loss than loans risk rated as special mention or substandard.
Our risk ratings are consistent with regulatory guidance and are as follows:
Pass—The loan is currently performing and is of high quality.
Special Mention—A special mention loan has potential weaknesses that warrant management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects or in the strength of our credit position at some future date.
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S&T BANCORP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Substandard—A substandard loan is not adequately protected by the net worth and/or paying capacity of the borrower or by the collateral pledged, if any. Substandard loans have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. These loans are characterized by the distinct possibility that we will sustain some loss if the deficiencies are not corrected.
Doubtful—Loans classified doubtful have all the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently known facts, conditions and values, highly questionable and improbable.

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S&T BANCORP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The following tables present loan balances by year of origination and internally assigned risk rating for our portfolio segments at the dates presented:
March 31, 2026
Risk Rating by Year of Origination
(dollars in thousands) 2026 2025 2024 2023 2022 2021 and Prior Revolving Revolving-Term Total
Commercial Real Estate
Pass $ 61,340  $ 483,042  $ 313,621  $ 314,448  $ 275,054  $ 1,262,871  $ 38,536  $ —  $ 2,748,912 
Special mention —  —  2,887  4,563  8,344  36,292  254  —  52,340 
Substandard —  —  —  3,838  1,689  29,309  —  —  34,836 
Doubtful —  —  —  —  —  —  —  —  — 
Total Commercial Real Estate 61,340  483,042  316,508  322,849  285,087  1,328,472  38,790  —  2,836,088 
Year-to-date Gross Charge-offs —  —  —  —  —  —  —  —  — 
Commercial and Industrial
Pass 84,636  154,971  91,822  103,001  122,999  229,105  417,206  —  1,203,740 
Special mention —  —  818  6,588  5,792  14,687  42,132  —  70,017 
Substandard —  —  —  1,864  —  22,763  20,533  —  45,160 
Doubtful —  —  —  —  —  —  2,627  —  2,627 
Total Commercial and Industrial 84,636  154,971  92,640  111,453  128,791  266,555  482,498  —  1,321,544 
Year-to-date Gross Charge-offs —  —  —  198  —  —  —  —  198 
Commercial Construction
Pass 14,994  201,198  112,588  44,094  7,678  3,699  6,464  —  390,715 
Special mention —  —  —  —  —  —  —  —  — 
Substandard —  —  869  —  —  —  —  —  869 
Doubtful —  —  —  —  —  —  —  —  — 
Total Commercial Construction 14,994  201,198  113,457  44,094  7,678  3,699  6,464  —  391,584 
Year-to-date Gross Charge-offs —  —  —  —  —  —  —  —  — 
Business Banking
Pass 30,136  178,415  125,647  191,313  191,806  462,449  95,458  446  1,275,670 
Special mention —  —  799  120  419  2,909  4  112  4,363 
Substandard —  —  444  4,455  2,632  11,232  150  468  19,381 
Doubtful —  —  —  —  —  —  —  —  — 
Total Business Banking 30,136  178,415  126,890  195,888  194,857  476,590  95,612  1,026  1,299,414 
Year-to-date Gross Charge-offs —  —  —  510  —  44  —  —  554 
Consumer Real Estate
Pass 17,563  161,750  214,384  289,054  301,547  373,961  625,545  28,698  2,012,502 
Special mention —  —  —  —  —  79  —  —  79 
Substandard —  156  758  3,060  477  4,468  1,877  3,424  14,220 
Doubtful —  —  —  —  —  —  —  —  — 
Total Consumer Real Estate 17,563  161,906  215,142  292,114  302,024  378,508  627,422  32,122  2,026,801 
Year-to-date Gross Charge-offs —  —  26  3  —  —  34  238  301 
Other Consumer
Pass 1,848  5,891  4,706  3,259  3,204  1,543  49,189  14,139  83,779 
Special mention —  —  —  —  —  —  —  —  — 
Substandard —  —  —  12  —  147  —  13  172 
Doubtful —  —  —  —  —  —  —  —  — 
Total Other Consumer 1,848  5,891  4,706  3,271  3,204  1,690  49,189  14,152  83,951 
Year-to-date Gross Charge-offs 282  —  21  3  23  9  —  544  882 
Pass 210,517  1,185,267  862,768  945,169  902,288  2,333,628  1,232,398  43,283  7,715,318 
Special mention —  —  4,504  11,271  14,555  53,967  42,390  112  126,799 
Substandard —  156  2,071  13,229  4,798  67,919  22,560  3,905  114,638 
Doubtful —  —  —  —  —  —  2,627  —  2,627 
Total Loan Balance $ 210,517  $ 1,185,423  $ 869,343  $ 969,669  $ 921,641  $ 2,455,514  $ 1,299,975  $ 47,300  $ 7,959,382 
Year-to-date Gross Charge-offs $ 282  $ —  $ 47  $ 714  $ 23  $ 53  $ 34  $ 782  $ 1,935 
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S&T BANCORP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2025
Risk Rating by Year of Origination
(dollars in thousands) 2025 2024 2023 2022 2021 2020 and Prior Revolving Revolving-Term Total
Commercial Real Estate
Pass $ 480,967  $ 312,777  $ 322,165  $ 311,087  $ 328,936  $ 1,047,543  $ 42,300  $ —  $ 2,845,775 
Special mention —  2,907  —  6,865  3,148  25,805  254  —  38,979 
Substandard —  —  3,883  1,700  11,642  19,782  —  —  37,007 
Doubtful —  —  —  —  —  —  —  —  — 
Total Commercial Real Estate 480,967  315,684  326,048  319,652  343,726  1,093,130  42,554  —  2,921,761 
Year-to-date Gross Charge-offs —  —  —  4,907  —  2,432  —  —  7,339 
Commercial and Industrial
Pass 161,634  95,715  111,222  138,390  75,406  165,633  501,472  —  1,249,472 
Special mention —  350  2,423  1,394  3  13,611  8,179  —  25,960 
Substandard —  —  1,914  —  18,152  5,644  27,853  —  53,563 
Doubtful —  —  —  —  —  —  1,610  —  1,610 
Total Commercial and Industrial 161,634  96,065  115,559  139,784  93,561  184,888  539,114  —  1,330,605 
Year-to-date Gross Charge-offs 256  —  4,014  172  —  2,089  192  —  6,723 
Commercial Construction
Pass 172,822  118,952  43,093  18,762  2,520  1,260  7,099  —  364,508 
Special mention —  —  —  —  —  —  —  —  — 
Substandard —  869  —  —  —  —  —  —  869 
Doubtful —  —  —  —  —  —  —  —  — 
Total Commercial Construction 172,822  119,821  43,093  18,762  2,520  1,260  7,099  —  365,377 
Year-to-date Gross Charge-offs —  —  —  118  —  —  —  —  118 
Business Banking
Pass 182,401  132,196  201,106  197,145  157,792  328,135  93,701  453  1,292,929 
Special mention —  394  —  427  137  2,871  4  161  3,994 
Substandard —  —  5,175  2,208  3,364  7,574  151  468  18,940 
Doubtful —  —  —  —  —  —  —  —  — 
Total Business Banking 182,401  132,590  206,281  199,780  161,293  338,580  93,856  1,082  1,315,863 
Year-to-date Gross Charge-offs —  19  132  39  225  699  —  —  1,114 
Consumer Real Estate
Pass 161,896  220,705  297,533  306,440  119,775  277,507  618,767  29,868  2,032,491 
Special mention —  —  —  —  —  84  —  —  84 
Substandard —  583  2,927  522  186  4,399  2,006  3,873  14,496 
Doubtful —  —  —  —  —  —  —  —  — 
Total Consumer Real Estate 161,896  221,288  300,460  306,962  119,961  281,990  620,773  33,741  2,047,071 
Year-to-date Gross Charge-offs 5  35  134  2  —  156  31  465  828 
Other Consumer
Pass 7,016  5,253  3,919  3,869  1,090  984  59,304  9,640  91,075 
Special mention —  —  —  —  —  —  —  —  — 
Substandard —  —  13  —  10  143  —  39  205 
Doubtful —  —  —  —  —  —  —  —  — 
Total Other Consumer 7,016  5,253  3,932  3,869  1,100  1,127  59,304  9,679  91,280 
Year-to-date Gross Charge-offs 1,027  35  36  73  30  58  1  693  1,953 
Pass 1,166,736  885,598  979,038  975,693  685,519  1,821,062  1,322,643  39,961  7,876,250 
Special mention —  3,651  2,423  8,686  3,288  42,371  8,437  161  69,017 
Substandard —  1,452  13,912  4,430  33,354  37,542  30,010  4,380  125,080 
Doubtful —  —  —  —  —  —  1,610  —  1,610 
Total Loan Balance $ 1,166,736  $ 890,701  $ 995,373  $ 988,809  $ 722,161  $ 1,900,975  $ 1,362,700  $ 44,502  $ 8,071,957 
Year-to-date Gross Charge-offs $ 1,288  $ 89  $ 4,316  $ 5,311  $ 255  $ 5,434  $ 224  $ 1,158  $ 18,075 
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S&T BANCORP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The following tables present the aging analysis of past due loans segregated by class of loans at the dates presented:
March 31, 2026
(dollars in thousands) Current 30-59 Days
Past Due		 60-89 Days
Past Due		 Nonaccrual Total Past
Due Loans		 Total Loans
Commercial real estate $ 2,815,134  $ 5,829  $ —  $ 15,125  $ 20,954  $ 2,836,088 
Commercial and industrial 1,297,254  6,381  —  17,909  24,290  1,321,544 
Commercial construction 390,715  —  —  869  869  391,584 
Business banking 1,291,395  2,167  520  5,332  8,019  1,299,414 
Consumer real estate 2,010,816  4,601  811  10,573  15,985  2,026,801 
Other consumer 82,960  834  16  141  991  83,951 
Total $ 7,888,274  $ 19,812  $ 1,347  $ 49,949  $ 71,108  $ 7,959,382 
December 31, 2025
(dollars in thousands) Current 30-59 Days
Past Due		 60-89 Days
Past Due		 Nonaccrual Total Past
Due Loans		 Total Loans
Commercial real estate $ 2,906,576  $ —  $ —  $ 15,185  $ 15,185  $ 2,921,761 
Commercial and industrial 1,305,388  311  —  24,906  25,217  1,330,605 
Commercial construction 364,508  —  —  869  869  365,377 
Business banking 1,308,368  999  2,920  3,576  7,495  1,315,863 
Consumer real estate 2,028,472  3,281  4,454  10,864  18,599  2,047,071 
Other consumer 90,503  604  15  158  777  91,280 
Total $ 8,003,815  $ 5,195  $ 7,389  $ 55,558  $ 68,142  $ 8,071,957 
The following tables present loans on nonaccrual status by class of loan for the year-to-date periods presented:
March 31, 2026
(dollars in thousands) Beginning of Period Nonaccrual End of Period Nonaccrual Nonaccrual With No Related Allowance
Interest Income
Recognized
on Nonaccrual(1)
Commercial real estate $ 15,185  $ 15,125  $ —  $ 31 
Commercial and industrial 24,906  17,909  3,375  111 
Commercial construction 869  869  —  4 
Business banking 3,576  5,332  2,281  34 
Consumer real estate 10,864  10,573  13,917  97 
Other consumer 158  141  —  — 
Total $ 55,558  $ 49,949  $ 19,573  $ 277 
(1) Represents only cash payments received and applied to interest on nonaccrual loans.
December 31, 2025
(dollars in thousands) Beginning of Period Nonaccrual End of Period Nonaccrual Nonaccrual With No Related Allowance
Interest Income
Recognized
on Nonaccrual(1)
Commercial real estate $ 3,228  $ 15,185  $ 14,936  $ 123 
Commercial and industrial 11,173  24,906  12,585  202 
Commercial construction —  869  —  581 
Business banking 2,988  3,576  —  198 
Consumer real estate 10,318  10,864  —  592 
Other consumer 230  158  —  3 
Total $ 27,937  $ 55,558  $ 27,521  $ 1,699 
(1) Represents only cash payments received and applied to interest on nonaccrual loans.
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S&T BANCORP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The following tables present loans that are individually evaluated and collateral-dependent at the dates presented:
March 31, 2026
Type of Collateral
(dollars in thousands) Real Estate Business
Assets
Commercial real estate $ 13,917 $ —
Commercial and industrial — 17,848
Business banking 2,281 —
Total $ 16,198 $ 17,848
December 31, 2025
Type of Collateral
(dollars in thousands) Real Estate Business
Assets
Commercial real estate $ 14,936 $ —
Commercial and industrial — 24,835
Total $ 14,936 $ 24,835
The following tables present activity in the ACL for the periods presented:
Three Months Ended March 31, 2026
(dollars in thousands) Commercial
Real Estate		 Commercial and
Industrial		 Commercial
Construction		 Business Banking Consumer
Real Estate		 Other
Consumer		 Total Loans
Allowance for credit losses on loans:
Balance at beginning of period $ 29,357  $ 29,142  $ 4,400  $ 11,335  $ 16,297  $ 2,647  $ 93,178 
Provision for credit losses on loans(1)
 (974) 1,684  253  120  147  550  1,780 
Charge-offs —  (198) —  (554) (301) (882) (1,935)
Recoveries 2  65  —  18  38  125  248 
Net (Charge-offs) Recoveries 2  (133) —  (536) (263) (757) (1,687)
Balance at End of Period $ 28,385  $ 30,693  $ 4,653  $ 10,919  $ 16,181  $ 2,440  $ 93,271 
(1) Excludes the provision for credits losses for unfunded commitments.
Three Months Ended March 31, 2025
(dollars in thousands) Commercial
Real Estate		 Commercial and
Industrial		 Commercial
Construction		 Business Banking Consumer
Real Estate		 Other
Consumer		 Total Loans
Allowance for credit losses on loans:
Balance at beginning of period $ 30,254  $ 37,084  $ 4,893  $ 10,681  $ 15,776  $ 2,806  $ 101,494 
Provision for credit losses on loans(1)
 (493) (3,643) 1,017  650  160  (202) (2,511)
Charge-offs —  (172) (30) (143) (162) (377) (884)
Recoveries 134  145  —  25  133  474  911 
Net Recoveries (Charge-offs) 134  (27) (30) (118) (29) 97  27 
Balance at End of Period $ 29,895  $ 33,414  $ 5,880  $ 11,213  $ 15,907  $ 2,701  $ 99,010 
(1) Excludes the provision for credits losses for unfunded commitments.
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S&T BANCORP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 6. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Derivatives Designated as Hedging Instruments
The following table indicates the amounts representing the value of derivative assets and derivative liabilities at the dates presented:
Derivative Assets
(Included in Other Assets)		 Derivative Liabilities
(Included in Other Liabilities)
March 31, 2026 December 31, 2025 March 31, 2026 December 31, 2025
(dollars in thousands) Notional
 Amount		 Fair
Value		 Notional
 Amount		 Fair
Value		 Notional
 Amount		 Fair
 Value		 Notional
 Amount		 Fair
 Value
Derivatives Designated as Hedging Instruments
Interest rate swap contracts - cash flow hedges
 $ —  $ —  $ —  $ —  $ 300,000  $ 1,868  $ 350,000  $ 2,024 
Total Derivatives Designated as Hedging Instruments —  —  —  —  300,000  1,868  350,000  2,024 
Derivatives Not Designated as Hedging Instruments
Interest rate swap contracts - commercial loans 736,540  32,943  746,445  33,669  736,540  33,200  746,445  33,990 
Interest rate lock commitments - mortgage loans 2,912  34  3,218  81  —  —  —  — 
Total Derivatives Not Designated as Hedging Instruments 739,452  32,977  749,663  33,750  736,540  33,200  746,445  33,990 
Total Derivatives $ 739,452  $ 32,977  $ 749,663  $ 33,750  $ 1,036,540  $ 35,068  $ 1,096,445  $ 36,014 

The following table indicates the gross amounts of interest rate swap derivative assets and derivative liabilities, the amounts offset and the carrying values in the Consolidated Balance Sheets at the dates presented:
Derivative Assets
(Included in Other Assets)		 Derivative Liabilities
(Included in Other Liabilities)
(dollars in thousands) March 31, 2026 December 31, 2025 March 31, 2026 December 31, 2025
Gross amounts recognized $ 32,943  $ 33,669  $ 35,068  $ 36,014 
Gross amounts offset —  —  —  — 
Net amounts presented in the Consolidated Balance Sheets 32,943  33,669  35,068  36,014 
Netting adjustments(1)
 (1,868) (2,024) (1,868) (2,024)
Cash collateral(2)
 (31,075) (26,964) —  2 
Net Amount $ —  $ 4,681  $ 33,200  $ 33,992 
(1) Netting adjustments represent the amounts recorded to convert derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance.
(2) Cash collateral represents the amount that cannot be used to offset our derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The application of the cash collateral cannot reduce the net derivative position below zero. Therefore, excess cash collateral, if any, is not reflected above.
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The following table presents the effect, net of tax, of the cash flow hedges on OCI and on the Consolidated Statements of Comprehensive Income for the periods presented:
Amount of Gain Recognized in Other Comprehensive Income Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Interest Income
(dollars in thousands) Three months ended March 31, 2026 Three months ended March 31, 2025 Three months ended March 31, 2026 Three months ended March 31, 2025
Derivatives in Cash Flow Hedging Relationships:
Interest rate swap contracts - cash flow hedges
 $ 123  $ 2,446  $ (652) $ (1,692)
Total $ 123  $ 2,446  $ (652) $ (1,692)
Amounts reported in OCI related to derivatives that are designated as hedging instruments are reclassified to interest income as interest payments are received on variable rate assets. We estimate that an additional $1.8 million will be reclassified as a decrease to interest income in the next 12 months. Our current interest rate swap agreements have three to five year terms with maturity dates extending into 2027.
The following table indicates the gain (loss) recognized in income on derivatives not designated as hedging instruments for the periods presented:
Three Months Ended March 31,
(dollars in thousands) 2026 2025
Derivatives not Designated as Hedging Instruments
Interest rate swap contracts—commercial loans $ 40  $ 48 
Interest rate lock commitments—mortgage loans (47) — 
Total Derivatives Gain (Loss) $ (7) $ 48 
NOTE 7. TAX CREDIT EQUITY INVESTMENTS
We invest in LIHTC and historic tax credit, or HTC, partnerships as part of our responsibilities under the Community Reinvestment Act and due to their favorable federal income tax benefits. As a limited partner in these operating partnerships, we receive tax credits and tax deductions for losses incurred by the underlying properties. No impairment losses were recognized for the three months ended March 31, 2026 and 2025.
The following table presents the balances included in the Consolidated Balance Sheets at the dates presented:
(dollars in thousands)
 March 31, 2026 December 31, 2025
Tax credit equity investment(1)
 $ 34,593  $ 35,782 
Unfunded commitments(2)
 3,150  3,514 
(1) Included in other assets in the Consolidated Balance Sheets
(2) Included in other liabilities in the Consolidated Balance Sheets
The following table summarizes the amortization expense and tax credits included in income tax expense in the Condensed Consolidated Statements of Comprehensive Income for the periods presented:
Three Months Ended March 31,
(dollars in thousands)
 2026 2025
Tax credits and other tax benefits recognized $ 1,493  $ 1,388 
Amortization 1,188  1,231 
Net benefit included in income tax expense $ 305  $ 157 
NOTE 8. COMMITMENTS AND CONTINGENCIES
Commitments
In the normal course of business, we offer off-balance sheet credit arrangements to enable our customers to meet their financing objectives. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated financial statements. Our exposure to credit loss, in the event the customer does not satisfy the terms of the agreement, equals the contractual amount of the obligation less the value of any collateral. We apply the same credit policies in making commitments and standby letters of credit that are used for the underwriting of loans to customers. Commitments generally have fixed expiration dates, annual renewals or other termination clauses and may require payment of a fee.
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Because many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements.
The following table sets forth our commitments and letters of credit at the dates presented:
(dollars in thousands) March 31, 2026 December 31, 2025
Commitments to extend credit $ 2,653,613  $ 2,644,139 
Standby letters of credit 65,717  67,452 
Total $ 2,719,330  $ 2,711,591 
Litigation
In the normal course of business, we are subject to various legal and administrative proceedings and claims. While any type of litigation contains a level of uncertainty, we believe that the outcome of such proceedings or claims pending will not have a material adverse effect on our consolidated financial position or results of operations.
NOTE 9. OTHER COMPREHENSIVE INCOME (LOSS)
The following table presents the change in components of other comprehensive income (loss) for the periods presented, net of tax effects:
Three Months Ended March 31, 2026 Three Months Ended March 31, 2025
(dollars in thousands) Pre-Tax
Amount		 Tax
Expense		 Net of Tax
Amount		 Pre-Tax
Amount		 Tax
Expense		 Net of Tax
Amount
Change in net unrealized (losses) gains on available-for-sale debt securities $ (7,840) $ 1,688  $ (6,152) $ 15,047  $ (3,237) $ 11,810 
Net available-for-sale securities losses reclassified into earnings
 —  —  —  2,295  (493) 1,802 
Change in interest rate swap 157  (34) 123  3,117  (671) 2,446 
Adjustment to funded status of employee benefit plans 331  (71) 260  381  (82) 299 
Other Comprehensive (Loss) Income $ (7,352) $ 1,583  $ (5,769) $ 20,840  $ (4,483) $ 16,357 
NOTE 10. SHARE REPURCHASE PLAN
On January 21, 2026, the Board of Directors of S&T Bancorp, Inc. authorized a new $100.0 million share repurchase program. The repurchase authorization permits S&T to repurchase shares of S&T's common stock from time to time through a combination of open market and privately negotiated repurchases up to the authorized $100.0 million aggregate value of S&T's common stock. At March 31, 2026, there was $50.4 million in capacity remaining under the plan.
The following table presents common stock repurchase activity for the periods presented:
Three Months Ended March 31,
(in thousands, except share and per share data) 2026 2025
Value of shares authorized to repurchase $ 100,000  $ 50,000 
Remaining plan capacity at the beginning of the period $ 100,000  $ 50,000 
Total shares repurchased 1,146,100  — 
Average share price for the period $ 43.30  $ — 
Total share cost of repurchases(1)
 $ 49,621  $ — 
Remaining plan capacity at the end of the period $ 50,379  $ 50,000 
(1)Excludes excise tax and commissions.
NOTE 11. SUBSEQUENT EVENTS
Subsequent to March 31, 2026, 354,200 shares were repurchased at an average price of $44.29 per share for $15.7 million excluding excise tax and commissions. At May 5, 2026, there was $34.7 million in capacity remaining under the repurchase plan authorized on January 21, 2026.
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Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS


Management’s Discussion and Analysis of Financial Condition and Results of Operations, or MD&A, represents an overview of our consolidated results of operations and financial condition and highlights material changes in our financial condition and results of operations for the three months ended March 31, 2026 and 2025. Our MD&A should be read in conjunction with our Condensed Consolidated Financial Statements and Notes. The results of operations reported in the accompanying Condensed Consolidated Financial Statements are not necessarily indicative of results to be expected in future periods.
Important Note Regarding Forward-Looking Statements
This Quarterly Report on Form 10-Q contains or incorporates statements that we believe are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to our financial condition, results of operations, plans, objectives, outlook for earnings, revenues, expenses, capital and liquidity levels and ratios, asset levels, asset quality, financial position and other matters regarding or affecting S&T and its future business and operations. Forward-looking statements are typically identified by words or phrases such as “will likely result,” “expect,” “anticipate,” “estimate,” “forecast,” “project,” “intend,” “believe,” “assume,” “strategy,” “trend,” “plan,” “outlook,” “outcome,” “continue,” “remain,” “potential,” “opportunity,” “comfortable,” “current,” “position,” “maintain,” “sustain,” “seek,” “achieve” and variations of such words and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could” or “may.” Although we believe the assumptions upon which these forward-looking statements are based are reasonable, any of these assumptions could prove to be inaccurate and the forward-looking statements based on these assumptions could be incorrect. The matters discussed in these forward-looking statements are subject to various risks, uncertainties and other factors that could cause actual results and trends to differ materially from those made, projected or implied in or by the forward-looking statements depending on a variety of uncertainties or other factors including, but not limited to: credit losses and the credit risk of our commercial and consumer loan products; changes in the level of charge-offs and changes in estimates of the adequacy of the allowance for credit losses, or ACL; cybersecurity concerns; rapid technological developments and changes, including the use of artificial intelligence and digital assets; operational risks or risk management failures by us or critical third parties, including fraud risk; our ability to manage our brand risks; sensitivity to the interest rate environment, a rapid increase in interest rates or a change in the shape of the yield curve; a change in spreads on interest-earning assets and interest-bearing liabilities; regulatory supervision and oversight, including changes in regulatory capital requirements and our ability to address those requirements; unanticipated changes in our liquidity position; unanticipated changes in regulatory and governmental policies impacting interest rates and financial markets; changes in accounting policies, practices or guidance; legislation affecting the financial services industry as a whole, and S&T, in particular; developments affecting the industry and the soundness of financial institutions and further disruption to the economy and U.S. banking system; the outcome of pending and future litigation and governmental proceedings; increasing price and product/service competition; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; managing our internal growth and acquisitions; the possibility that the anticipated benefits from acquisitions cannot be fully realized in a timely manner or at all, or that integrating the acquired operations will be more difficult, disruptive or costly than anticipated; containing costs and expenses; reliance on significant customer relationships; an interruption or cessation of an important service by a third-party provider; our ability to attract and retain talented executives and other employees; general economic or business conditions, including the strength of regional economic conditions in our market area; ESG practices and disclosures, including climate change, hiring practices, the diversity of the work force and racial and social justice issues; deterioration of the housing market and reduced demand for mortgages; deterioration in the overall macroeconomic conditions or the state of the banking industry that could warrant further analysis of the carrying value of goodwill and could result in an adjustment to its carrying value resulting in a non-cash charge to net income; the stability of our core deposit base and access to contingency funding; re-emergence of turbulence in significant portions of the global financial and real estate markets that could impact our performance, both directly, by affecting our revenues and the value of our assets and liabilities, and indirectly, by affecting the economy generally and access to capital in the amounts, at the times and on the terms required to support our future businesses and geopolitical tensions and conflicts between nations.
Many of these factors, as well as other factors, are described elsewhere in this report, and under Part I, Item 1A - “Risk Factors” of our 2025 Form 10-K, and any of our subsequent filings with the SEC. Forward-looking statements are based on beliefs and assumptions using information available at the time the statements are made. We caution you not to unduly rely on forward-looking statements because the assumptions, beliefs, expectations and projections about future events may, and often do, differ materially from actual results. Any forward-looking statement speaks only as to the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect developments occurring after the statement is made. 
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Critical Accounting Policies and Estimates
We view critical accounting policies to be those which are highly dependent on subjective or complex estimates, assumptions and judgments and where changes in those estimates and assumptions could have a significant impact on the Condensed Consolidated Financial Statements. Further, we view critical accounting estimates as those estimates made in accordance with GAAP that involve a significant level of estimation uncertainty and have had or are reasonably likely to have a material impact on our financial condition or results of operations. Our critical accounting policies and estimates as of March 31, 2026 remained unchanged from the disclosures presented in our 2025 Form 10-K under Part II, Item 7 - “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”
Explanation of Use of Non-GAAP Financial Measures
In addition to traditional financial measures presented in accordance with GAAP, our management uses, and this report contains or references, certain non-GAAP financial measures, such as interest income on interest-earning assets, net interest income and net interest margin presented on a fully taxable equivalent, or FTE, basis (non-GAAP), the efficiency ratio (non-GAAP) and return on tangible shareholders' equity (non-GAAP).
We believe these non-GAAP financial measures provide information useful to investors in understanding our underlying business, operational performance and performance trends as they facilitate comparisons with the performance of other companies in the financial services industry. Although we believe that these non-GAAP financial measures enhance investors’ understanding of our business and performance, these non-GAAP financial measures should not be considered alternatives to GAAP or considered to be more important than financial results determined in accordance with GAAP, nor are they necessarily comparable with non-GAAP measures which may be presented by other companies.
The following table reconciles interest and dividend income and net interest income per the Condensed Consolidated Statements of Comprehensive Income to interest income, net interest income and net interest margin on an FTE basis (non-GAAP) for the periods presented. The FTE basis (non-GAAP) adjusts for the tax benefit of income on certain tax-exempt loans and securities and the dividend-received deduction for equity securities using the federal statutory tax rate of 21 percent for each period. We believe this to be the preferred industry measurement of net interest income that provides a relevant comparison combining both taxable and non-taxable sources of interest income.
Three Months Ended March 31,
(dollars in thousands) 2026 2025
Total Interest and Dividend Income
 $ 126,333  $ 124,848 
Plus: taxable equivalent adjustment 590  617 
Interest and Dividend Income on an FTE Basis (Non-GAAP)
 $ 126,923  $ 125,465 
Total Interest and Dividend Income
 $ 126,333  $ 124,848 
Less: Interest expense (37,897) (41,525)
Net Interest Income
 88,436  83,323 
Plus: taxable equivalent adjustment 590  617 
Net Interest Income on an FTE Basis (Non-GAAP) $ 89,026  $ 83,940 
Net interest margin 3.89  % 3.78  %
Plus: taxable equivalent adjustment 0.03  % 0.03  %
Net Interest Margin on an FTE Basis (Non-GAAP) 3.92  % 3.81  %
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Return on average tangible shareholders' equity (non-GAAP) is a key profitability metric used by management to measure financial performance. The following table provides a reconciliation of return on average tangible shareholders' equity (non-GAAP) by reconciling net income (GAAP) per the Condensed Consolidated Statements of Comprehensive Income to net income before amortization of intangibles and average shareholder's equity to average tangible shareholders' equity for the periods presented:
Three Months Ended March 31,
(dollars in thousands) 2026 2025
Net income (annualized) $ 142,236  $ 135,460 
Plus: amortization of intangibles (annualized) net of tax 583  772 
Net income before amortization of intangibles (non-GAAP) (annualized) $ 142,819  $ 136,232 
Average shareholders' equity $ 1,455,682  $ 1,400,999 
Less: average goodwill and other intangible assets, net of deferred tax liability (375,136) (375,741)
Average tangible shareholders' equity (non-GAAP)
 $ 1,080,546  $ 1,025,258 
Return on Average Tangible Shareholders' Equity (non-GAAP) 13.22  % 13.29  %
Executive Overview
We are a bank holding company that is headquartered in Indiana, Pennsylvania with assets of $9.9 billion at March 31, 2026. We operate in Pennsylvania and Ohio providing a full range of financial services with retail, business banking and commercial banking products and trust and brokerage services. Our common stock trades on the NASDAQ Global Select Market under the symbol “STBA.”
We earn revenue primarily from interest on loans and securities and fees charged for financial services provided to our customers. We incur expenses for the cost of deposits and other funding sources, provision for credit losses and other operating costs such as salaries and employee benefits, data processing, occupancy and tax expense.
Our purpose is building our future together through people-forward banking. We believe that all banking should be personal. We cultivate relationships rooted in trust, strengthened by going above and beyond and renewed with every interaction. Our strategic priorities for 2026 and beyond will be focused on growing our deposit franchise, improving core profitability, maintaining asset quality and ensuring a high level of talent and engagement.

Earnings Summary
The following table presents a summary of key profitability metrics for the periods presented:
Three Months Ended March 31,
(dollars in thousands) 2026 2025
Net income $ 35,072  $ 33,401 
Earnings per share - diluted $ 0.94  $ 0.87 
Return on average assets 1.44  % 1.41  %
Return on average shareholders' equity 9.77  % 9.67  %
Return on average tangible shareholders' equity (non-GAAP)(1)
 13.22  % 13.29  %
(1) Reconciled to GAAP in the "Explanation of Use of Non-GAAP Financial Measures" section of this MD&A.
We recognized net income of $35.1 million, or $0.94 per diluted share, for the three months ended March 31, 2026 compared to net income of $33.4 million, or $0.87 per diluted share, for the same period in 2025. This represents a 5.0 percent increase in net income and an 8.0 percent increase in diluted earnings per share for the three months ended March 31, 2026 compared to the same period in 2025. During the first quarter of 2026, 1,146,100 shares were repurchased at an average price of $43.30 per share for $49.6 million excluding excise tax and commissions. Total share repurchases for both the fourth quarter of 2025 and the first quarter of 2026 were 2,094,370 shares at an average price of $40.99 per share totaling $85.8 million excluding excise tax and commissions. The remaining capacity under the existing share repurchase program was $50.4 million at March 31, 2026.
Net interest income increased $5.1 million, or 6.1 percent to $88.4 million for the three months ended March 31, 2026 compared to $83.3 million for the same period in 2025. The net interest margin, or NIM, on an FTE basis (non-GAAP) increased 11 basis points to 3.92 percent for the three months ended March 31, 2026 compared to 3.81 percent for the same period in 2025. The increases in net interest income and NIM on an FTE basis (non-GAAP) were primarily due to the impact of lower interest rates on interest-bearing liabilities and an improvement in our funding mix due to strong customer growth which allowed for reduced levels of brokered deposits and borrowings.
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The provision for credit losses increased $4.3 million to $1.3 million for the three months ended March 31, 2026 compared to negative $3.0 million for the same period in 2025. The increase was primarily due to higher net loan charge-offs and an increase in specific reserve for loans individually evaluated compared to the same period in 2025.
Noninterest income increased $3.2 million to $13.6 million for the three months ended March 31, 2026 compared to the same period in 2025. The increase was mainly related to $2.3 million in realized losses from the repositioning of securities into longer duration, higher-yielding securities which occurred in 2025 and is not present in 2026. Noninterest expense increased $1.6 million to $56.7 million for the three months ended March 31, 2026 compared to $55.1 million in the same period in 2025. The increase in noninterest expense primarily related to higher salaries and employee benefits of $1.5 million related to increased salary, medical and incentive costs.
The provision for income taxes increased $0.7 million to $9.0 million for the three months ended March 31, 2026 compared to $8.3 million for the same period in 2025. Our effective tax rate was 20.4 percent for the three months ended March 31, 2026 compared to 19.9 percent for the three months ended March 31, 2025. The increase in our effective tax rate for the three month period ended March 31, 2026 was primarily due to an increase in pretax income and state income tax expense compared to the same period in 2025.
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Three months ended March 31, 2026 compared to
 Three months ended March 31, 2025
Net Interest Income
Our principal source of revenue is net interest income. Net interest income represents the difference between the interest and fees earned on interest-earning assets and the interest paid on interest-bearing liabilities. Net interest income is affected by changes in the average balance of interest-earning assets and interest-bearing liabilities and changes in interest rates and spreads. The level and mix of interest-earning assets and interest-bearing liabilities is managed by our Asset and Liability Committee, or ALCO, in order to mitigate interest rate and liquidity risks of the balance sheet. A variety of ALCO strategies were implemented, within prescribed ALCO risk parameters, to produce what we believe is an acceptable level of net interest income.
Average Balance Sheet and Net Interest Income Analysis (FTE) (non-GAAP)
The following tables provide information regarding the average balances, interest and rates earned on interest-earning assets and interest and rates paid on interest-bearing liabilities for the periods presented:
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Three Months Ended March 31, 2026 Three Months Ended March 31, 2025
(dollars in thousands) Average Balance Interest Rate Average Balance Interest Rate
ASSETS
Interest-bearing deposits with banks $ 153,396  $ 1,398  3.70  % $ 128,739  $ 1,416  4.46  %
Securities, at fair value(1)(2)
 997,037  9,426  3.78  % 990,414  8,875  3.59  %
Loans held for sale 1,002  16  6.57  % —  —  —  %
Commercial real estate 3,579,903  51,234  5.80  % 3,395,599  48,740  5.82  %
Commercial and industrial 1,513,557  23,319  6.25  % 1,535,235  25,319  6.69  %
Commercial construction 387,412  6,134  6.42  % 374,881  6,422  6.95  %
Total Commercial Loans 5,480,872  80,687  5.97  % 5,305,715  80,481  6.15  %
Residential mortgage 1,701,695  22,781  5.37  % 1,660,177  21,545  5.21  %
Home equity 707,856  10,293  5.90  % 653,113  10,148  6.30  %
Installment and other consumer 87,693  1,598  7.39  % 99,402  1,954  7.97  %
Consumer construction 30,124  497  6.69  % 45,157  763  6.86  %
Total Consumer Loans 2,527,368  35,169  5.61  % 2,457,849  34,410  5.64  %
Total Portfolio Loans 8,008,240  115,856  5.86  % 7,763,564  114,891  5.99  %
Total Loans(1)(3)
 8,009,242  115,872  5.86  % 7,763,564  114,891  5.99  %
Total other earning assets 12,806  227  7.07  % 16,768  283  6.74  %
Total Interest-earning Assets 9,172,481  $ 126,923  5.60  % 8,899,485  $ 125,465  5.70  %
Noninterest-earning assets 692,974  727,176 
Total Assets $ 9,865,455  $ 9,626,661 
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing demand $ 778,502  $ 1,782  0.93  % $ 779,309  $ 1,930  1.00  %
Money market 2,245,922  14,407  2.60  % 2,088,346  15,276  2.97  %
Savings 873,304  1,408  0.65  % 884,636  1,450  0.66  %
Certificates of deposit 1,965,807  18,089  3.73  % 1,860,840  19,698  4.29  %
Total Interest-bearing Deposits 5,863,535  35,686  2.47  % 5,613,131  38,354  2.77  %
Short-term borrowings 74,162  730  3.99  % 117,722  1,344  4.63  %
Long-term borrowings 50,805  476  3.80  % 50,886  477  3.80  %
Junior subordinated debt securities 49,485  796  6.53  % 49,423  874  7.17  %
Total Borrowings 174,452  2,002  4.66  % 218,031  2,695  5.01  %
Other interest-bearing liabilities 22,862  209  3.69  % 43,926  476  4.40  %
Total Interest-bearing Liabilities 6,060,849  37,897  2.54  % 5,875,088  41,525  2.87  %
Noninterest-bearing liabilities 2,348,924  2,350,574 
Shareholders' equity 1,455,682  1,400,999 
Total Liabilities and Shareholders' Equity $ 9,865,455  $ 9,626,661 
Net Interest Income (FTE) (non-GAAP)(1)(2)
 $ 89,026  $ 83,940 
Net Interest Margin (FTE) (non-GAAP)(1)(2)
 3.92  % 3.81  %
(1) Tax-exempt interest income is on an FTE basis (non-GAAP) using the statutory federal corporate income tax rate of 21 percent.
(2) Taxable investment income is adjusted for the dividend-received deduction for equity securities.
(3) Nonaccruing loans are included in the daily average loan amounts outstanding.
Net interest income on an FTE basis (non-GAAP) increased $5.1 million, or 6.06 percent, for the three months ended March 31, 2026 compared to the same period in 2025. The net interest margin, or NIM, on an FTE basis (non-GAAP) increased 11 basis points to 3.92 percent for the three months ended March 31, 2026 compared to 3.81 percent in the same period in 2025. The increases in net interest income and NIM on an FTE basis (non-GAAP) were primarily due to the impact of lower interest rates on interest-bearing liabilities.
Interest income on an FTE basis (non-GAAP) increased $1.5 million for the three months ended March 31, 2026 compared to the same period in 2025. The increase in interest income on an FTE basis (non-GAAP) was primarily driven by a $245.7 million increase in total portfolio loans that more than offset the impact of declining loan yields. The average yield on loans decreased 13 basis points compared to the same period in 2025 due to lower interest rates. Interest income on an FTE basis (non-GAAP) also improved due to an increase in securities yield of 19 basis points to 3.78 percent compared to 3.59 percent in the same period in 2025. Overall, the FTE rate (non-GAAP) on interest-earning assets decreased 10 basis points for the three months ended March 31, 2026 compared to the same period in 2025.
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Interest expense decreased $3.6 million for the three months ended March 31, 2026 compared to the same period in 2025. The decrease in interest expense was primarily due to a decline in interest rates. Average interest-bearing deposits increased $250.4 million for the three months ended March 31, 2026 compared to the same period in 2025. Average borrowings decreased $43.6 million for the three months ended March 31, 2026 compared to the same period in 2025 primarily due to an increase in deposits. Overall, the cost of interest-bearing liabilities decreased 33 basis points for the three months ended March 31, 2026 compared to the same period in 2025.
The following table sets forth a summary of the changes in interest earned and interest paid resulting from changes in volume and changes in rates for the periods presented:
Three Months Ended March 31, 2026 Compared to March 31, 2025
(dollars in thousands)
Volume (4)
Rate (4)
 Total
Interest earned on:
Interest-bearing deposits with banks $ 271  $ (289) $ (18)
Securities, at fair value(1)(2)
 59  491  550 
Loans held for sale 16  —  16 
Commercial real estate 2,645  (152) 2,493 
Commercial and industrial (357) (1,643) (2,000)
Commercial construction 215  (503) (288)
Total Commercial Loans 2,503  (2,298) 205 
Residential mortgage 539  699  1,238 
Home equity 851  (706) 145 
Installment and other consumer (230) (126) (356)
Consumer construction (254) (12) (266)
Total Consumer Loans 906  (145) 761 
Total Portfolio Loans 3,409  (2,443) 966 
Total Loans(1)(3)
 3,425  (2,443) 982 
Total other earning assets (67) 11  (56)
Change in Interest Earned on Interest-earning Assets $ 3,688  $ (2,230) $ 1,458 
Interest paid on:
Interest-bearing demand $ (2) $ (146) $ (148)
Money market 1,153  (2,021) (868)
Savings (19) (24) (43)
Certificates of deposit 1,111  (2,720) (1,609)
Total Interest-bearing Deposits 2,243  (4,911) (2,668)
Short-term borrowings (497) (116) (613)
Long-term borrowings (1) —  (1)
Junior subordinated debt securities 1  (79) (78)
Total Borrowings (497) (195) (692)
Other interest-bearing liabilities (228) (40) (268)
Change in Interest Paid on Interest-bearing Liabilities 1,518  (5,146) (3,628)
Change in Net Interest Income $ 2,170  $ 2,916  $ 5,086 
(1) Tax-exempt income is on an FTE basis (non-GAAP) using the statutory federal corporate income tax rate of 21 percent.
(2) Taxable investment income is adjusted for the dividend-received deduction for equity securities.
(3) Nonaccruing loans are included in the daily average loan amounts outstanding.
(4) Changes to rate/volume are allocated to both rate and volume on a proportionate dollar basis.
Provision for Credit Losses
The provision for credit losses includes provisions for losses on loans and on unfunded loan commitments. The provision for credit losses fluctuates based on changes in loan balances, loan risk ratings, net loan charge-offs and recoveries, the macro environment and our Current Expected Credit Losses, or CECL, forecast.
The provision for credit losses increased $4.3 million to $1.3 million for the three months ended March 31, 2026 compared to negative $3.0 million for the same period in 2025. The increase was primarily due to higher net loan charge-offs and an increase in specific reserve for loans individually evaluated.
Net loan charge-offs were $1.7 million for the three months ended March 31, 2026 compared to net loan charge-offs of $0.0 million for the same period in 2025. Refer to the "Allowance for Credit Losses" section of this MD&A for further details.
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Noninterest Income
Three Months Ended March 31,
(dollars in thousands) 2026 2025 $ Change % Change
Net loss on sale of securities $ —  $ (2,295) $ 2,295  (100.0) %
Debit and credit card
 4,283  4,188  95  2.3  %
Service charges on deposit accounts 4,196  3,962  234  5.9  %
Investment services and trust
 3,369  3,084  285  9.2  %
Other noninterest income 1,794  1,490  304  20.4  %
Total Noninterest Income $ 13,642  $ 10,429  $ 3,213  30.8  %
Noninterest income increased $3.2 million to $13.6 million for the three months ended March 31, 2026 compared to the same period in 2025. The increase was mainly related to $2.3 million in realized losses from the repositioning of securities into longer duration, higher-yielding securities which occurred in 2025 and is not present in 2026.
Noninterest Expense
Three Months Ended March 31,
(dollars in thousands) 2026 2025 $ Change % Change
Salaries and employee benefits $ 31,356  $ 29,853  $ 1,503  5.0  %
Data processing and information technology 5,158  4,930  228  4.6  %
Occupancy 4,592  4,302  290  6.7  %
Furniture, equipment and software 3,492  3,483  9  0.3  %
Other taxes 2,063  1,494  569  38.1  %
Marketing 1,467  1,615  (148) (9.2) %
Professional services and legal 1,245  1,286  (41) (3.2) %
FDIC insurance 1,073  1,040  33  3.2  %
Other 6,261  7,088  (827) (11.7) %
Total Noninterest Expense $ 56,707  $ 55,091  $ 1,616  2.9  %
Noninterest expense increased $1.6 million to $56.7 million for the three months ended March 31, 2026 compared to the same period in 2025. The increase in noninterest expense mainly related to higher salaries and employee benefits of $1.5 million primarily due to increased salary, medical and incentive costs. Other taxes increased $0.6 million primarily due to the timing of contributions to the Educational Improvement Tax Credit Program and other noninterest expense decreased $0.8 million primarily due to the same contribution timing. These contributions are reported in other expense and generate tax credits that reduce shares tax expense, which is included in other taxes.
Provision for Income Taxes
The provision for income taxes increased $0.7 million to $9.0 million for the three months ended March 31, 2026 compared to $8.3 million for the same period in 2025. Our effective tax rate was 20.4 percent for the three months ended March 31, 2026 compared to 19.9 percent for the for the three months ended March 31, 2025. The increase in our effective tax rate for the three months ended March 31, 2026 was primarily due to an increase in pretax income and state income tax expense compared to the same period in 2025.
Financial Condition at March 31, 2026
Total assets were $9.9 billion at both March 31, 2026 and December 31, 2025. Cash and due from banks increased $175.6 million related to a significant increase in deposits and a decline in loans compared to December 31, 2025. Total portfolio loans decreased $112.6 million, or 1.4 percent, to $8.0 billion at March 31, 2026 compared to December 31, 2025. The commercial loan portfolio decreased $79.0 million and the consumer loan portfolio decreased $33.6 million compared to December 31, 2025. The decline in loans related to lower fundings, reduced utilization and higher commercial real estate loan payoffs.
Securities increased $21.9 million to $1.0 billion at March 31, 2026 compared to December 31, 2025. The increase in the debt securities portfolio was primarily due to purchases offset by an increase in unrealized losses as a result of higher interest rates. The securities portfolio was in a net unrealized loss position of $42.7 million at March 31, 2026 compared to a net unrealized loss position of $34.9 million at December 31, 2025.
Total deposits increased $226.4 million, or 2.8 percent, to $8.2 billion at March 31, 2026 compared to $8.0 billion at December 31, 2025. Customer deposits increased $306.5 million, or 3.9 percent, to $8.1 billion at March 31, 2026 compared to $7.8 billion at December 31, 2025 driven by broad-based growth across all lines of business and nearly all deposit product categories.
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The increase in customer deposits allowed for a reduction in brokered deposits which decreased $80.1 million to $100.3 million at March 31, 2026 compared to $180.4 million at December 31, 2025.
Total borrowings decreased $115.0 million to $150.3 million at March 31, 2026 compared to $265.3 million at December 31, 2025 due to strong customer deposit growth.
Total shareholders’ equity decreased by $33.2 million to $1.4 billion at March 31, 2026 compared to December 31, 2025. The decrease was primarily due to repurchases of S&T common stock of $50.2 million which includes excise tax and commissions of $0.6 million, other comprehensive loss of $5.8 million and dividends of $13.4 million offset by net income of $35.1 million. During the first quarter of 2026, 1,146,100 common shares were repurchased at an average price of $43.30 per share.
Securities Activity
The following table summarizes our securities portfolio at the dates presented:
(dollars in thousands) March 31, 2026 December 31, 2025 $ Change
U.S. Treasury securities $ 84,161  $ 84,507  $ (346)
Obligations of U.S. government corporations and agencies —  —  — 
Collateralized mortgage obligations of U.S. government corporations and agencies 626,502  624,263  2,239 
Residential mortgage-backed securities of U.S. government corporations and agencies 33,094  31,336  1,758 
Commercial mortgage-backed securities of U.S. government corporations 259,505  241,262  18,243 
Obligations of states and political subdivisions 4,878  4,909  (31)
Available-for-Sale Debt Securities 1,008,140  986,277  21,863 
Equity securities 1,378  1,382  (4)
Total Securities Available for Sale $ 1,009,518  $ 987,659  $ 21,859 
We invest in various securities in order to maintain a source of liquidity, to satisfy various pledging requirements, to increase net interest income and as a tool of ALCO to reposition the balance sheet for interest rate risk purposes. Securities are subject to market risks that could negatively affect the level of liquidity available to us.
The securities portfolio increased $21.9 million to $1.0 billion at March 31, 2026 compared to December 31, 2025. The increase in the debt securities portfolio was primarily related to purchases offset by an increase in unrealized losses of $7.8 million at March 31, 2026 compared to December 31, 2025 as a result of higher interest rates. Our debt securities portfolio was in a net unrealized loss position of $42.7 million at March 31, 2026 compared to a net unrealized loss position of $34.9 million at December 31, 2025. At March 31, 2026, our debt securities portfolio had gross unrealized losses of $46.3 million offset by $3.6 million of gross unrealized gains compared to gross unrealized losses of $42.4 million offset by gross unrealized gains of $7.5 million at December 31, 2025.
Loan Composition
The following table summarizes our loan portfolio at the dates presented:
March 31, 2026 December 31, 2025
(dollars in thousands) Amount % of Total Amount % of Total $ Change % Change
Commercial
Commercial real estate $ 3,532,106  44.4  % $ 3,626,784  44.9  % $ (94,678) (2.6) %
Commercial and industrial 1,511,082  19.0  % 1,519,336  18.9  % (8,254) (0.5) %
Commercial construction 404,012  5.0  % 380,091  4.7  % 23,921  6.3  %
Total Commercial Loans 5,447,200  68.4  % 5,526,211  68.5  % (79,011) (1.4) %
Consumer
Consumer real estate 2,428,231  30.5  % 2,454,466  30.4  % (26,235) (1.1) %
Other consumer 83,951  1.1  % 91,280  1.1  % (7,329) (8.0) %
Total Consumer Loans 2,512,182  31.6  % 2,545,746  31.5  % (33,564) (1.3) %
Total Portfolio Loans $ 7,959,382  100.0  % $ 8,071,957  100.0  % $ (112,575) (1.4) %
The loan portfolio represents the most significant source of interest income for us. The risk that borrowers will be unable to pay such obligations is inherent in the loan portfolio. Other conditions, such as downturns in the borrower’s industry or the overall economic climate, can significantly impact the borrower’s ability to pay.
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Total portfolio loans were $8.0 billion at March 31, 2026 compared to $8.1 billion at December 31, 2025. The decline in commercial loans related to reduced utilization rates and higher commercial real estate loan payoffs. Additionally, we experienced increased competition in pricing and loan structure which contributed to lower-than-anticipated new fundings for the three months ended March 31, 2026.
Commercial loans, including CRE, C&I and commercial construction comprised 68.4 percent of total portfolio loans at March 31, 2026 compared to 68.5 percent at December 31, 2025. The commercial loan portfolio decreased $79.0 million at March 31, 2026 compared to December 31, 2025 due to decreases of $94.7 million in CRE and $8.3 million in C&I offset by an increase of $23.9 million in commercial construction.
Consumer loans represent 31.6 percent of our total portfolio loans at March 31, 2026 compared to 31.5 percent at December 31, 2025. The consumer loan portfolio decreased $33.6 million at March 31, 2026 compared to December 31, 2025 due to decreases of $26.2 million in consumer real estate and $7.3 million in other consumer loans. At both March 31, 2026 and December 31, 2025, 23 percent of our total loans were adjustable rate, 37 percent were floating rate and 40 percent were fixed rate.

Allowance for Credit Losses
We maintain an ACL at a level determined to be adequate to absorb estimated expected credit losses within the loan portfolio over the contractual life of an instrument that considers our historical loss experience, current conditions and forecasts of future economic conditions as of the balance sheet date. We develop and document a systematic ACL methodology based on the following portfolio segments: 1) CRE, 2) C&I, 3) Commercial Construction, 4) Business Banking, 5) Consumer Real Estate and 6) Other Consumer. Refer to Part 1. Financial Information, Note 5. Loans and Allowance for Credit Losses for details on our portfolio segments.
The following table presents activity in the ACL for the period presented:
Three Months Ended March 31, 2026
(dollars in thousands) Commercial
Real Estate		 Commercial and
Industrial		 Commercial
Construction		 Business Banking Consumer
Real Estate		 Other
Consumer		 Total Loans
Allowance for credit losses on loans:
Balance at beginning of period $ 29,357  $ 29,142  $ 4,400  $ 11,335  $ 16,297  $ 2,647  $ 93,178 
Provision for credit losses on loans(1)
 (974) 1,684  253  120  147  550  1,780 
Charge-offs —  (198) —  (554) (301) (882) (1,935)
Recoveries 2  65  —  18  38  125  248 
Net Recoveries (Charge-offs) 2  (133) —  (536) (263) (757) (1,687)
Balance at End of Period $ 28,385  $ 30,693  $ 4,653  $ 10,919  $ 16,181  $ 2,440  $ 93,271 
(1) Excludes the provision for credit losses for unfunded commitments.
The following table presents key ACL ratios for the periods presented:
March 31, 2026 December 31, 2025
Ratio of net charge-offs to average loans outstanding(1)
 0.09  % 0.18  %
Allowance for credit losses as a percentage of total portfolio loans 1.17  % 1.15  %
Allowance for credit losses to nonaccrual loans 187  % 168  %
(1) Year-to-date net charge-offs annualized

The ACL increased $0.1 million to $93.3 million, or 1.17 percent of total portfolio loans, at March 31, 2026 compared to $93.2 million, or 1.15 percent of total portfolio loans, at December 31, 2025. The increase in the ACL and ACL as a percentage of total portfolio loans was primarily due to an increase of $1.0 million in specific reserves for loans individually evaluated and higher special mention loans which was partially offset by lower substandard and total loan balances.
Substandard loans decreased $10.5 million to $114.6 million at March 31, 2026 compared to $125.1 million at December 31, 2025. The decrease in the amount of substandard loans was primarily due to loan paydowns. Special mention loans increased $57.8 million to $126.8 million at March 31, 2026 compared to $69.0 million at December 31, 2025. The increase in special mention loans was related to downgrades of three C&I relationships and one CRE relationship.
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Nonperforming assets, or NPAs, consist of nonaccrual loans and OREO. The following represents NPAs at the dates presented:
(dollars in thousands) March 31, 2026 December 31, 2025 $ Change
Nonaccrual Loans
Commercial real estate $ 17,764  $ 17,373  $ 391 
Commercial and industrial 18,607  25,575  (6,968)
Commercial construction 869  869  — 
Consumer real estate 12,568  11,583  985 
Other Consumer 141  158  (17)
Total Nonaccrual Loans 49,949  55,558  (5,609)
OREO —  57  (57)
Total Nonperforming Assets $ 49,949  $ 55,615  $ (5,666)
Asset Quality Ratios:
Nonaccrual loans as a percent of total portfolio loans 0.63  % 0.69  % (0.06) %
Nonperforming assets as a percent of total portfolio loans plus OREO 0.63  % 0.69  % (0.06) %
Our policy is to place loans in all categories in nonaccrual status when collection of interest or principal is doubtful, or generally when interest or principal payments are 90 days or more past the contractual due date. Nonaccrual loans decreased $5.7 million to $49.9 million at March 31, 2026 compared to $55.6 million at December 31, 2025. The decrease in nonaccrual loans was primarily due to paydowns in the C&I portfolio.

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Deposits
Deposits are our primary source of funds. The following table presents the composition of deposits at the dates presented:
(dollars in thousands) March 31, 2026 December 31, 2025 $ Change
Customer Deposits
Noninterest-bearing demand $ 2,273,411  $ 2,160,645  $ 112,766 
Interest-bearing demand 784,326  790,278  (5,952)
Money market 2,164,415  2,016,560  147,855 
Savings 883,213  862,118  21,095 
Certificates of deposit 1,979,492  1,948,792  30,700 
Total Customer Deposits 8,084,857  7,778,393  306,464 
Brokered Deposits
Money market 100,362  180,438  (80,076)
Total Brokered Deposits 100,362  180,438  (80,076)
Total Deposits $ 8,185,219  $ 7,958,831  $ 226,388 
Total deposits increased $226.4 million, or 2.8 percent, at March 31, 2026 compared to December 31, 2025 as a result of our continued focus on growing our deposit franchise. Customer deposits increased $306.5 million, or 3.9 percent, compared to December 31, 2025, driven by broad-based growth across all lines of business and nearly all product categories. While most of this increase reflects growth in our customer deposit base, a portion relates to seasonality and temporary inflows that are not expected to remain. Growth in customer deposits also enabled a reduction in brokered deposits, which decreased $80.1 million from December 31, 2025. Brokered deposits are an additional source of funds utilized by ALCO as a way to diversify funding sources, as well as manage our funding costs and structure.
As a member of the IntraFi network, we are able to offer our customers insurance coverage on interest-bearing demand, money market and certificates of deposit balances in excess of the FDIC insurance limits. IntraFi balances were $330.4 million at March 31, 2026 compared to $317.3 million at December 31, 2025.
We had total uninsured deposits of $2.9 billion, or 35.8 percent of our total deposit base, at March 31, 2026 compared to $2.7 billion, or 33.7 percent of our total deposit base, at December 31, 2025.
Borrowings
Borrowings are an additional source of funding for us. Short-term borrowings are for terms under or equal to one year and are comprised of FHLB Advances. Long-term borrowings are for original terms greater than one year and are comprised of FHLB advances and finance leases. Total borrowings decreased $115.0 to $150.3 million at March 31, 2026 compared to $265.3 million at December 31, 2025 due to strong customer deposit growth and lower loan balances.
The following table presents the composition of total borrowings at the dates presented:
(dollars in thousands) March 31, 2026 December 31, 2025 $ Change
Short-term borrowings $ 50,000  $ 165,000  $ (115,000)
Long-term borrowings 50,794  50,815  (21)
Junior subordinated debt securities 49,493  49,478  15 
Total Borrowings $ 150,287  $ 265,293  $ (115,006)
Information pertaining to short-term borrowings is summarized in the table below for the three months ended March 31, 2026 and for the twelve months ended December 31, 2025:
Short-Term Borrowings
(dollars in thousands) March 31, 2026 December 31, 2025
Balance at the period end $ 50,000  $ 165,000 
Average balance during the period $ 74,162  $ 111,453 
Average interest rate during the period 3.99  % 4.53  %
Maximum month-end balance during the period $ 115,000  $ 165,000 
Average interest rate at the period end 3.73  % 3.93  %
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Information for long-term borrowings and junior subordinated debt securities is summarized in the tables below for the three months ended March 31, 2026 and for the twelve months ended December 31, 2025:
Long-Term Borrowings
(dollars in thousands) March 31, 2026 December 31, 2025
Balance at the period end $ 50,794  $ 50,815 
Average balance during the period $ 50,805  $ 50,856 
Average interest rate during the period 3.80  % 3.80  %
Maximum month-end balance during the period $ 50,809  $ 50,890 
Average interest rate at the period end 3.74  % 3.75  %
Junior Subordinated Debt Securities
(dollars in thousands) March 31, 2026 December 31, 2025
Balance at the period end $ 49,493  $ 49,478 
Average balance during the period $ 49,485  $ 49,446 
Average interest rate during the period 6.53  % 7.04  %
Maximum month-end balance during the period $ 49,493  $ 49,478 
Average interest rate at the period end 6.26  % 6.33  %
Liquidity and Capital Resources
Liquidity is defined as a financial institution’s ability to meet its cash and collateral obligations at a reasonable cost. Our primary future cash needs are centered on the ability to (i) satisfy the financial needs of depositors who may want to withdraw funds or of borrowers needing to access funds to meet their credit needs and (ii) to meet our future cash commitments under contractual obligations with third parties. In order to manage liquidity risk, our Board of Directors has delegated authority to ALCO for the formulation, implementation and oversight of liquidity risk management for S&T. ALCO’s goal is to maintain adequate levels of liquidity at a reasonable cost to meet funding needs in both a normal operating environment and for potential liquidity stress events. ALCO monitors and manages liquidity through various ratios, reviewing cash flow projections, performing stress tests and having a detailed contingency funding plan. ALCO policy guidelines define graduated risk tolerance levels. If our liquidity position moves to a level that has been defined as high risk, specific actions are required, such as increased monitoring or the development of an action plan to reduce the risk position.
Our primary funding and liquidity source is a stable customer deposit base. We believe S&T has the ability to retain existing deposits and attract new deposits, mitigating any funding dependency on other more volatile funding sources. Refer to the "Financial Condition at March 31, 2026 - Deposits" section of this MD&A, for additional discussion on deposits. Although deposits are the primary source of funds, we have identified various other funding sources that can be used as part of our normal funding program. Additional funding sources accessible to us include borrowing availability at the FHLB, Federal Reserve Discount Window through the Borrower-in-Custody Program, federal funds lines with other financial institutions and the brokered deposit market.
Available borrowing capacity exceeds uninsured deposits of $2.9 billion at March 31, 2026. The following table summarizes funding sources available at the dates presented:
March 31, 2026 December 31, 2025
(dollars in thousands) Borrowing Capacity
Balance (1)
 Available Borrowing Capacity
Balance (1)
 Available
FHLB(1)
 $ 2,117,159  $ 266,539  $ 1,850,620  $ 2,132,446  $ 339,614  $ 1,792,832 
Borrower-in-Custody Program 2,115,033  —  2,115,033  2,124,366  —  2,124,366 
Total $ 4,232,192  $ 266,539  $ 3,965,653  $ 4,256,812  $ 339,614  $ 3,917,198 
(1) FHLB balances include advances, letters of credit, interest due on advances and the credit enhancement obligation on mortgages sold to the FHLB.
We have contractual obligations representing required future payments on certificates of deposit, junior subordinated debt securities, short-term borrowings, long-term borrowings, operating and capital leases, funding commitments on tax credit equity investments and purchase obligations. See the "Liquidity and Capital Resources" section presented in our 2025 Form 10-K under Part II, Item 7- "Management’s Discussion and Analysis of Financial Condition and Results of Operations" for more information on these future cash outflows. There have been no material changes to the contractual obligations previously disclosed in our 2025 Form 10-K.
An important component of our ability to effectively respond to potential liquidity stress events is maintaining a cushion of highly liquid assets. Highly liquid assets are those that can be converted to cash quickly to meet financial obligations. ALCO policy guidelines define a ratio of highly liquid assets to total assets by graduated risk tolerance levels of minimal, moderate and high.
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At March 31, 2026, S&T Bank had $1.0 billion in highly liquid assets which consisted primarily of $276.0 million in interest-bearing deposits with banks and $763.0 million in unpledged securities. This resulted in a highly liquid assets to total assets ratio of 10.5 percent at March 31, 2026.
We continue to maintain a strong capital position with our capital ratios in excess of the well-capitalized regulatory guidelines. The following table summarizes capital amounts and ratios for S&T and S&T Bank at the dates presented:
(dollars in thousands) Adequately
Capitalized		 Well-
Capitalized		 March 31, 2026 December 31, 2025
Amount Ratio Amount Ratio
S&T Bancorp, Inc.
Tier 1 leverage 4.00  % 5.00  % $ 1,127,098  11.82  % $ 1,154,736  12.18  %
Common equity tier 1 to risk-weighted assets 4.50  % 6.50  % 1,103,098  14.18  % 1,130,736  14.32  %
Tier 1 capital to risk-weighted assets 6.00  % 8.00  % 1,127,098  14.49  % 1,154,736  14.62  %
Total capital to risk-weighted assets 8.00  % 10.00  % 1,249,357  16.06  % 1,278,474  16.19  %
S&T Bank
Tier 1 leverage 4.00  % 5.00  % $ 1,078,156  11.31  % $ 1,128,495  11.91  %
Common equity tier 1 to risk-weighted assets 4.50  % 6.50  % 1,078,156  13.87  % 1,128,495  14.30  %
Tier 1 capital to risk-weighted assets 6.00  % 8.00  % 1,078,156  13.87  % 1,128,495  14.30  %
Total capital to risk-weighted assets 8.00  % 10.00  % 1,200,374  15.44  % 1,252,175  15.86  %
We have filed a shelf registration statement on Form S-3 under the Securities Act of 1933, as amended, with the SEC which allows for the issuance of a variety of securities including debt and capital securities, preferred and common stock and warrants. We may use the proceeds from the sale of securities for general corporate purposes which could include investments at the holding company level, investing in, or extending credit to subsidiaries, possible acquisitions and stock repurchases. We have not issued any securities pursuant to this shelf registration statement at March 31, 2026.

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Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Market risk is defined as the degree to which changes in interest rates, foreign exchange rates, commodity prices or equity prices can adversely affect a financial institution’s earnings or capital. For most financial institutions, including S&T, market risk primarily reflects exposures to changes in interest rates. Interest rate fluctuations affect earnings by changing net interest income and other interest-sensitive income and expense levels. Interest rate changes also affect capital by changing the net present value of a bank’s future cash flows, and the cash flows themselves, as rates change. Accepting this risk is a normal part of banking and can be an important source of profitability and enhancing shareholder value. However, excessive interest rate risk can threaten a bank’s earnings, capital, liquidity and solvency. Our sensitivity to changes in interest rate movements is continually monitored by ALCO. ALCO monitors and manages market risk through rate shock analyses, economic value of equity, or EVE, analyses and by performing stress tests and simulations to mitigate earnings and market value fluctuations due to changes in interest rates.
Rate shock analyses results are compared to a base case to provide an estimate of the impact that market rate changes may have on 12 and 24 months of pretax net interest income. The base case and rate shock analyses are performed on a static balance sheet. A static balance sheet is a no growth balance sheet in which all maturing and/or repricing cash flows are reinvested in the same product at the existing product spread. Rate shock analyses assume an immediate parallel shift in market interest rates and also include management assumptions regarding the impact of interest rate changes on non-maturity deposit products (noninterest-bearing demand, interest-bearing demand, money market and savings) and changes in the prepayment behavior of loans and securities with optionality. S&T policy guidelines limit the change in pretax net interest income over 12 and 24 month horizons using rate shocks in increments of +/- 100 basis points. Policy guidelines define the percentage change in pretax net interest income by graduated risk tolerance levels of minimal, moderate and high.
In order to monitor interest rate risk beyond the 24 month time horizon of rate shocks on pretax net interest income, we also perform EVE analyses. EVE represents the present value of all asset cash flows minus the present value of all liability cash flows. EVE change results are compared to a base case to determine the impact that market rate changes may have on our EVE. As with rate shock analyses on pretax net interest income, EVE analyses incorporate management assumptions regarding prepayment behavior of fixed rate loans and securities with optionality and the behavior and value of non-maturity deposit products. S&T policy guidelines limit the change in EVE using rate shocks in increments of +/- 100 basis points. Policy guidelines define the percentage change in EVE by graduated risk tolerance levels of minimal, moderate and high.
The table below reflects the rate shock analyses results for the 1-12 and 13-24 month periods of pretax net interest income and EVE:
March 31, 2026 December 31, 2025
1 - 12 Months 13 - 24 Months % Change in EVE 1 - 12 Months 13 - 24 Months % Change in EVE
Change in Interest Rate (basis points) % Change in Pretax
 Net Interest Income		 % Change in
 Pretax
Net Interest Income		 % Change in Pretax
 Net Interest Income		 % Change in
 Pretax
Net Interest Income
400 7.1  11.4  (10.6) 1.7  9.4  (12.4)
300 5.1  8.3  (6.6) 1.1  6.9  (7.9)
200 3.6  5.9  (2.7) 0.9  5.0  (3.6)
100 1.9  3.3  (0.2) 0.6  2.9  (0.6)
-100 (3.0) (4.9) (3.4) (1.8) (4.5) (3.1)
-200 (6.3) (10.7) (10.4) (4.0) (10.2) (9.7)
-300 (10.0) (17.6) (22.0) (6.8) (17.0) (21.2)
The results from the rate shock analyses on net interest income are generally consistent with having an asset sensitive balance sheet. Having an asset sensitive balance sheet means more assets than liabilities will reprice during the measured time frames. The implications of an asset sensitive balance sheet will differ depending upon the change in market interest rates. For example, with an asset sensitive balance sheet in a declining interest rate environment, more assets than liabilities will decrease in rate. This situation could result in a decrease in net interest income and operating income. Conversely, with an asset sensitive balance sheet in a rising interest rate environment, more assets than liabilities will increase in rate. This situation could result in an increase in net interest income and operating income.
Our rate shock analyses show more improvement in the percentage change in pretax net interest income in the 1-12 month rates up scenarios when comparing March 31, 2026 to December 31, 2025 primarily because of temporary increased cash levels which were used to reduce wholesale funding. The remaining impact is due to increased floating rate loans and upcoming maturities within our receive-fixed balance sheet swap portfolio. The percentage change in pretax net interest income in the 1-12 month rates down scenarios remain relatively unchanged when comparing March 31, 2026 to December 31, 2025. Our rate shock analyses remain relatively unchanged in the percentage change in pretax net interest income in the 13-24 month scenarios when comparing March 31, 2026 to December 31, 2025. Our EVE analyses remain relatively unchanged in the percentage change in pretax net interest income in the 13-24 month scenarios when comparing March 31, 2026 to December 31, 2025.
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Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
In addition to rate shocks and EVE analyses, we perform a market risk stress test at least annually. The market risk stress test includes sensitivity analyses and simulations. Sensitivity analyses are performed to help us identify which model assumptions cause the greatest impact on pretax net interest income. Sensitivity analyses may include changing prepayment behavior of loans and securities with optionality and the impact of interest rate changes on non-maturity deposit products. Simulation analyses may include the potential impact of more dynamic rate changes beyond rate shocks, yield curve shape changes, significant balance mix changes and various growth scenarios.
Item 4. CONTROLS AND PROCEDURES
Evaluation of Disclosure Controls and Procedures
Under the supervision and with the participation of S&T’s Chief Executive Officer, or CEO, and Chief Financial Officer, or CFO (its principal executive officer and principal financial officer, respectively), management has evaluated the effectiveness of the design and operation of S&T’s disclosure controls and procedures as of March 31, 2026. In designing and evaluating the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Securities Exchange Act of 1934, as amended, or the Exchange Act, is recorded, processed, summarized and reported within the time periods required by the Securities and Exchange Commission, or the SEC, and that such information is accumulated and communicated to S&T’s management, including our CEO and CFO, as appropriate to allow timely decisions regarding required disclosure.
Based on and as of the date of such evaluation, our CEO and CFO concluded that the design and operation of our disclosure controls and procedures were effective in all material respects, as of the end of the period covered by this report.
Changes in Internal Control over Financial Reporting
During the quarter ended March 31, 2026, there were no changes made to S&T’s internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) that materially affected, or are reasonably likely to materially affect, S&T’s internal control over financial reporting.
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S&T BANCORP, INC. AND SUBSIDIARIES



PART II
OTHER INFORMATION
Item 1. Legal Proceedings
None
Item 1A. Risk Factors
There have been no material changes to the risk factors that we have previously disclosed in Part I, Item 1A – “Risk Factors” in our 2025 Form 10-K for the year ended December 31, 2025, as filed with the SEC on February 27, 2026.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Purchases of Equity Securities
The following table is a summary of our purchases of common stock during the first quarter of 2026:
Period Total number of shares purchased
Average price paid per share(1)
Total number of shares purchased as part of publicly announced plan
Approximate dollar value of shares that may yet be purchased under the plan(1)
01/01/2026-01/31/2026 184,000  $ 42.05  184,000  $ 92,263,396 
02/01/2026-02/28/2026 799,100  43.72  799,100  57,326,149 
03/01/2026-03/31/2026 163,000  42.62  163,000  50,379,376 
Total 1,146,100  $ 43.30  1,146,100  $ 50,379,376 
(1)Excludes excise tax and commissions.

On January 21, 2026, our Board of Directors authorized a new $100 million share repurchase program effective January 26, 2026 which is set to expire February 1, 2027. The new program authorizes the share repurchase of S&T's common stock from time to time through a combination of open market and privately negotiated transactions up to the authorized $100 million aggregate value of S&T's common stock. The specific timing, price and quantity of repurchases will be at the discretion of S&T and will depend on a variety of factors, including general market conditions, the trading price of the common stock, applicable securities laws and other legal and contractual requirements, as well as S&T's financial performance. The repurchase program does not obligate S&T to repurchase any particular number of shares and may be extended, modified or discontinued at any time. At March 31, 2026, 1,146,100 shares were repurchased under the new plan, at an average price of $43.30 per share, for $49.6 million excluding excise tax and commissions.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not Applicable.
Item 5. Other Information
(c) During the three months ended March 31, 2026, no director or Section 16 officer of the Company adopted, terminated or modified a ‘Rule 10b5-1 trading arrangement’ or ‘non-Rule 10b5-1 trading arrangement,’ as each term is defined in Item 408(a) of Regulation S-K.
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Item 6. Exhibits
Rule 13a-14(a) Certification of the Chief Executive Officer
Rule 13a-14(a) Certification of the Chief Financial Officer
Rule 13a-14(b) Certification of the Chief Executive Officer and Chief Financial Officer
101.INS XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document
101.SCH XBRL Taxonomy Extension Schema
101.CAL XBRL Taxonomy Extension Calculation Linkbase
101.DEF XBRL Taxonomy Extension Definition Linkbase
101.LAB XBRL Taxonomy Extension Label Linkbase
101.PRE XBRL Taxonomy Extension Presentation Linkbase
104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibits 101)
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S&T BANCORP, INC. AND SUBSIDIARIES
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
S&T Bancorp, Inc.
(Registrant)
May 7, 2026 /s/ Mark Kochvar
Mark Kochvar
Senior Executive Vice President and
Chief Financial Officer
(Principal Financial Officer and Duly Authorized Signatory)
43
EX-31.1 2 exhibit311.htm EX-31.1 Document

Exhibit 31.1
CERTIFICATION
I, Christopher J. McComish, certify that:

1.I have reviewed this quarterly report on Form 10-Q of S&T Bancorp, Inc.;
2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;
d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date: May 7, 2026
 
/s/ Christopher J. McComish
Christopher J. McComish, Chief Executive Officer (Principal Executive Officer)
EX-31.2 3 exhibit312.htm EX-31.2 Document

Exhibit 31.2
CERTIFICATION
I, Mark Kochvar, certify that:

1.I have reviewed this quarterly report on Form 10-Q of S&T Bancorp, Inc.;
2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures as of the end of the period covered by this report based on such evaluation;
d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date: May 7, 2026
 
/s/ Mark Kochvar
Mark Kochvar, Chief Financial Officer (Principal Financial Officer)
EX-32 4 exhibit32.htm EX-32 Document

Exhibit 32
CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER
AND CHIEF FINANCIAL OFFICER
SARBANES-OXLEY ACT SECTION 906
Pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, in connection with the S&T Bancorp, Inc. (the “Company”) Quarterly Report on Form 10-Q for the period ended March 31, 2026 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Christopher J. McComish, Chief Executive Officer of the Company, and I, Mark Kochvar, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, to the best of my knowledge that:
1.The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and
2.The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company for the dates and period covered by the Report.
This certificate is being made for the exclusive purpose of compliance by the Chief Executive Officer and Chief Financial Officer of the Company with the requirements of Section 906 of the Sarbanes-Oxley Act of 2002, and may not be disclosed, distributed or used by any person or for any reason other than as specifically required by law.
Date: May 7, 2026
 
/s/ Christopher J. McComish   /s/ Mark Kochvar
Christopher J. McComish, Chief Executive Officer (Principal Executive Officer)   Mark Kochvar, Chief Financial Officer (Principal Financial Officer)