S&T Bancorp's Q3 EPS rises to record high
STBA•S&T Bancorp reported record third-quarter EPS of $1.09 and net income of $38.60 million. Net interest income was $93.13 million, while the credit loss provision was $1.41 million.
1. Record quarterly earnings
S&T Bancorp's third-quarter EPS reached a record $1.09, with net income of $38.60 million. Net interest income was $93.13 million and the credit loss provision was $1.41 million.
2. Income and asset quality
The company said net interest income rose from the prior quarter, mainly because of higher yields on interest-earning assets and an extra day in the quarter. Lower noninterest expense and an improved efficiency ratio also contributed to profitability, while nonperforming assets fell from the prior quarter.
3. No financial guidance
S&T Bancorp did not provide specific financial guidance for future quarters or the full year.
