Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - S&T BANCORP INC | d230745d8k.htm |
 Second Quarter 2011
Exhibit 99.1 |
 Todd
Brice President and
Chief Executive Officer
Mark Kochvar
Sr. EVP and
Chief Financial Officer |
 3
Forward Looking Statement
and Risk Factor
•
This presentation contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Forward- looking statements
include, among others, statements regarding trends, strategies, plans, beliefs,
intentions, expectations, goals and opportunities. Forward looking
statements are typically identified by words or phrases such as believe,
expect, anticipate, intend, estimate, assume, strategy, plan, outlook,
outcome, continue, remain, trend and variations of such words and similar
expressions,
or
future
or
conditional
verbs
such
as
will,
would,
should,
could,
may
or
similar
expressions. Actual results and performance could differ materially from
those anticipated by these forward-looking statements. Factors
that could cause such a difference include, but are not limited to, general
economic conditions, changes in interest rates, deposit flows, loan demand,
asset quality, including real estate and other collateral values, and
competition. •
S&T cautions that these forward-looking statements are subject to numerous
assumptions, risks and uncertainties, which change over time. These
forward-looking statements speak only as of the date hereof, and
S&T assumes no duty to update forward-looking statements. Subsequent
written
or
oral
statements
attributable
to
S&T
or
persons
acting
on
its
behalf
are
expressly
qualified in their entirety by the cautionary statements contained herein and
those in S&T’s reports previously and subsequently filed with the
Securities and Exchange Commission. |
 4
S&T Bancorp Corporate Profile |
 Investor Highlights
•
Historically High Performing Bank
•
Experienced Management Team
•
Relationship Banking Model
•
Well-Positioned for Growth
5 |
 6
*
2011 peer banks per 2011 proxy statement
* *
Annualized
Return on Assets
-0.5%
0.0%
0.5%
1.0%
1.5%
2.0%
-0.5%
0.0%
0.5%
1.0%
1.5%
2.0%
2006
2007
2008
2009
2010
2011 YTD**
STBA
BHC $3-10 B
Peer Bank Median*
PA Banks |
 7
Return on Equity
*
2011 peer banks per 2011 proxy statement
* *
Annualized
-5%
0%
5%
10%
15%
20%
-5%
0%
5%
10%
15%
20%
2006
2007
2008
2009
2010
2011 YTD**
BHC $3-10 B
PA Banks
Peer Bank Median*
STBA |
 8
Marcellus Shale Distribution |
 Marcellus Activity in S&T’s Market Area
Permits
Issued
Wells
Drilled
2009
283
114
2010
358
170
2011
*
296
126
*
January –
July 2011
Source: Pennsylvania DEP
9 |
 10
|
 11
11
Quarterly Summary
2011
2011
2010
Second
Quarter
First
Quarter
Second
Quarter
Net Income
$13.4
$4.7
$7.9
Diluted Common Earnings per Share
$0.48
$0.17
$0.28
Common
Return
on
Average
Assets
*
1.31%
0.47%
0.76%
Common
Return
on
Average
Equity
*
9.15%
3.31%
5.60%
Dollars in millions
*
Annualized |
 12
12
Income Statement
Dollars in millions
2011
2011
2010
Second
Quarter
First
Quarter
Second
Quarter
Net Interest Income –
FTE
$35.6
$35.9
$37.8
Noninterest Income
11.2
11.0
11.4
Total Revenue
46.8
46.9
49.2
Noninterest Expense
(25.6)
(27.5)
(25.7)
Security Gains (Losses)
(0.1)
-
0.1
Provision for Loan Losses
(1.1)
(10.6)
(9.1)
Net Income Before Taxes
20.0
8.8
14.5
Taxes
(5.0)
(2.5)
(5.1)
Preferred Stock Dividends
(1.6)
(1.6)
(1.5)
Net Income Available to Common
Shareholders
$ 13.4
$4.7
$7.9
Diluted Common Earnings per Share
$ 0.48
$0.17
$0.28 |
 13
13
Balance Sheet
Dollars in millions
June 30,
2011
Mar. 31,
2011
June 30,
2010
Securities
$358
$353
$340
Loans, Net
3,145
3,243
3,343
Other
555
494
456
Total Assets
$4,058
$4,090
$4,139
Deposits
$3,254
$3,306
$3,297
Borrowings
164
158
227
Other
47
46
49
Equity
593
580
566
Total Liabilities & Equity
$4,058
$4,090
$4,139 |
 14
14
Loan Portfolio
Dollars in millions
June 30,
2011
Mar. 31,
2011
June 30,
2010
Consumer
Home Equity
$ 432
$ 436
$ 451
Residential Mortgage
346
343
360
Consumer
70
71
77
Construction
3
4
10
Total Consumer
851
854
898
Commercial
Commercial Real Estate
1,442
1,489
1,424
Commercial & Industrial
691
714
734
Construction
208
245
337
Total Commercial
2,341
2,448
2,495
Total Portfolio Loans
3,192
3,302
3,393
Total Loans Held for Sale
11
2
4
Total Loans
$3,203
$3,304
$ 3,397 |
 15
15
Asset Quality
*
YTD June 30, 2011 Annualized
June 30,
December 31,
2011
2010
2009
2008
2007
Nonperforming Loans / Total Loans
1.95%
1.90%
2.67%
1.19%
0.60%
Nonperforming Assets / Total Loans Plus
OREO
2.18
2.07
2.80
1.21
0.62
Net
Charge-offs
/
Average
Loans
*
0.59
1.48
1.60
0.31
0.17
Loan Loss Reserve / Total Loans
1.81
1.53
1.75
1.20
1.23
Loan Loss Reserve / Nonperforming Loans
93
80
66
101
204 |
 16
Nonperforming Loans
86
2.30
53.8
Total Commercial
12
3.56
7.4
Construction
13
1.18
8.1
Commercial & Industrial
61
2.65
38.3
Commercial Real Estate
Commercial
14
1.02
8.7
Total Consumer
-
-
-
Construction
-
-
-
Consumer Installment
10
1.78
6.2
Residential Mortgage
4
0.59
$ 2.5
Home Equity
% of
Total NPL
Consumer
% NPL
June 30,
2011
Total Nonperforming Loans
100
1.96
$ 62.5
Nonperforming
Loans
(NPL)
are
loans
where
collection
of
interest
or
principal
is
doubtful
or
generally
when
interest
or
principal
payments are 90 days or more past due.
Dollars in millions
Specific reserves $7.5
USDA Guarantee $6.8
16 |
 17
Construction & CRE by Type
Type
June 30,
2011
% of Total
June 30,
2010
Change
Retail/Strip Malls
$ 286
17
$ 298
$(12)
Miscellaneous
256
16
247
9
Offices
221
13
224
(3)
Residential Rental Properties
220
13
286
(66)
Hotels
185
11
192
(7)
Healthcare/Education
109
7
95
14
Flex/Mixed Use
107
7
102
5
RE Develop –
CL
100
6
105
(5)
Manuf/Industrial/Warehouse
96
6
137
(41)
RE Develop –
Residential
70
4
75
(5)
Total
$1,650
100
$1,761
($111)
17
Dollars in millions |
 18
Construction & CRE –
NPL by Type
Type
June 30,
2011
% NPL
% of
Total NPL
Retail/Strip Malls
$ 2.9
1.01
6
Miscellaneous
16.2
6.33
36
Offices
6.6
2.98
14
Residential Rental Properties
4.6
2.09
10
Hotels
1.5
0.79
3
Healthcare/Education
0.8
0.74
2
Flex/Mixed Use
-
-
-
RE Develop –
CL
1.1
1.14
2
Manuf/Industrial/Warehouse
4.4
4.61
10
RE Develop –
Residential
7.6
10.85
17
Total
$45.7
2.77
100
18
Dollars in millions |
 19
Net Interest Margin
2011
2011
2010
Second
Quarter
First
Quarter
Second
Quarter
Securities -
FTE
2.76%
3.02%
3.89%
Loans -
FTE
4.89
4.92
5.12
Total Earning Assets
4.63
4.72
5.01
Deposits
0.97
0.97
1.15
Borrowings
3.10
3.14
2.79
Total Costing Liabilities
1.10
1.10
1.27
Net Interest Margin -
FTE
3.85
3.92
4.05 |
 20
Noninterest Income
Dollars in millions
2011
2011
2010
Second
Quarter
First
Quarter
Second
Quarter
Community Banking
$ 5.9
$ 5.6
$ 6.6
Wealth Management
2.1
2.1
1.9
Insurance
2.2
2.1
2.0
Letters of Credit / Loan
0.7
0.5
0.8
Mortgage Banking
0.2
0.6
0.2
Other
0.1
0.1
(0.1)
Total
$11.2
$11.0
$11.4 |
 21
Securities
June 30,
2011
Mar. 31,
2011
June 30,
2010
Agencies
$142
$125
$124
Agency CMO
71
74
50
Agency MBS
55
59
54
Municipals
58
62
78
Equities
12
12
11
FHLB Stock
20
21
23
Total
$358
$353
$340
All securities are classified as available-for sale
Dollars in millions |
 22
Deposits
Dollars in millions
June 30,
2011
Mar. 31,
2011
June 30,
2010
Noninterest-bearing Demand
$ 802
$ 803
$ 733
Interest-bearing Demand
284
286
260
Money Market
237
241
251
Savings
753
755
743
Certificates of Deposit < $100K
769
781
845
Certificates Of Deposit > $100K
409
440
465
Total
$3,254
$3,306
$3,297 |
 23
23
Capital Ratios
June 30
2011
Mar. 31
2011
June 30
2010
Well-
Capitalized
Leverage
*
11.49%
11.19%
10.64%
5.00%
Tier 1 –
Risk-Based Capital
*
14.31
13.54
12.52
6.00
Total –
Risk-Based Capital
*
17.83
16.99
15.87
10.00
Tangible Common Equity /
Tangible Assets
8.08
7.70
7.23
NA
*
Includes CPP of $108.7 million |
 24
S&T
Bancorp
Capital
*
*
Total Risk-Based Capital
Well Capitalized |
 25
|
 Second Quarter 2011 |