Every material Form 8-K S&T Bancorp filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
S&T Bancorp reported third-quarter 2024 net income of $32.6 million, or $0.85 per diluted share, down from $34.4 million, or $0.89 per share, in the second quarter and from $33.5 million, or $0.87 per share, in the third quarter of 2023. The company said capital levels continue to build, while its return on average equity fell to 9.58% from 10.61% in the prior quarter.
Net income was $32.6 million, or $0.85 per diluted share, versus $34.4 million, or $0.89, in Q2 2024 and $33.5 million, or $0.87, in Q3 2023.
Net interest income rose $0.9 million to $84.5 million, while the net interest margin eased to 3.82% from 3.85%.
Noninterest income fell $1.4 million to $11.9 million, including a $2.0 million net loss tied to Visa Class B-1 stock and securities repositioning.
Total deposits decreased $25.5 million in the quarter, as customer deposit growth of $100.5 million was offset by $126.0 million lower brokered deposits.
S&T Bancorp's board increased its size from 11 to 12 directors on July 24, 2024, and appointed Peter G. Gurt, president of Milton Hershey School since 2014, as a director effective immediately. The filing says the Board considers him independent under Nasdaq standards, and it describes a prorated cash retainer of $58,333 and an equity grant valued at $41,667 for his service through the 2025 annual shareholder meeting.
Board expanded from 11 to 12 directors; Peter G. Gurt appointed effective July 24, 2024, also named director of S&T Bank
Gurt will serve on the Compensation and Benefits Committee and Credit Risk Committee
Prorated cash retainer of $58,333 and equity grant valued at $41,667 for service through the 2025 annual shareholder meeting
Press release dated July 25, 2024 furnished as Exhibit 99.1
S&T Bancorp reported second-quarter 2024 net income of $34.4 million, or $0.89 per diluted share, up from $31.2 million, or $0.81 per share, in the first quarter and flat with $0.89 per share in the second quarter of 2023. The results were released alongside supplemental investor materials, and the filing reports the quarter's net interest margin of 3.85% and nonperforming assets of $35.0 million.
Net income of $34.4 million and diluted EPS of $0.89, compared with $31.2 million and $0.81 in Q1 2024.
Diluted EPS matched the $0.89 reported in Q2 2023, when net income was $34.5 million.
Net interest margin rose to 3.85% from 3.84% in Q1 2024; provision for credit losses fell to $0.4 million from $2.6 million.
Q2 2024 included a $3.2 million loss on the repositioning of $49.0 million of securities.
S&T Bancorp reported first-quarter 2024 net income of $31.2 million, or $0.81 per diluted share, down from $39.8 million, or $1.02 per share, a year earlier and from $37.0 million, or $0.96 per share, in the fourth quarter of 2023. Net interest income and noninterest income both declined from the prior quarter, which the company attributed to higher funding costs and unusual fourth-quarter items, so shareholders are looking at lower earnings per share in both comparisons.
Net income was $31.2 million, or $0.81 per diluted share, versus $39.8 million, or $1.02 per share, in Q1 2023
Net interest income was $83.5 million, down $1.6 million from $85.1 million in Q4 2023, as funding costs rose
Noninterest income fell to $12.8 million from $18.1 million in Q4 2023, which included a $3.3 million gain on OREO
Total deposits rose $78.6 million to $7.6 billion at March 31, 2024, the third straight quarter of deposit growth
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every S&T Bancorp filing is on SEC EDGAR ↗. 8-K briefs of other companies →