Attached files
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| 8-K - FORM 8-K - S&T BANCORP INC | d8k.htm |
 Third Quarter 2010
Exhibit 99.1 |
 Todd
Brice President and
Chief Executive Officer
Mark Kochvar
Sr. EVP and
Chief Financial Officer |
 3
Forward-Looking Statement
and Risk Factors
•
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. |
 S&T
Bancorp Corporate Profile 4 |
 Investor Highlights
•
Historically High Performing Bank
•
Experienced Management Team
•
Relationship Banking Model
•
Well-Positioned for Growth
5 |
 6
Select PA Bank Holding Companies
6.35
0.86
4.1
S&T Bancorp
0.12
0.01
6.1
FCF
6.48
0.77
8.8
FNB
(0.68)
(0.08)
9.2
National Penn
0.19
0.03
13.9
Susquehanna
4.81%
0.59%
$16.6
Fulton
ROE
*
ROA
*
Assets
Data
Source:
SNL
YTD
June
30,
2010
/
*
Annualized
using
net income available to common shareholders
Dollars in billions |
 7
Stock Performance
18.71
5.55
8.80
6.46
8.45
$ 9.34
Price
1.83
1.13
S&T Bancorp
98
73
FCF
204
95
FNB
130
88
National Penn
117
55
Susquehanna
140%
99%
Fulton
P/TBV
P/BV
Data Source: Highline Financial 10/22/10 |
 Marcellus Shale Distribution
8 |
 Marcellus Shale Impact
•
Fully developed, the Marcellus Shale has the potential to
be the second largest natural gas field in the world.
•
The natural gas found in the Marcellus could be equivalent
to the energy content of 87 billion barrels of oil, enough to
meet the demand of the entire world for nearly three years.
•
Potential to create thousands of jobs and billions in annual
revenue for the state.
9
Source: www.iogapa.org |
 10
Quarterly Summary
5.60%
0.76%
$0.28
$7.9
Second
Quarter
2010
7.61%
1.06%
$0.39
$10.9
Third
Quarter
2010
2009
Third
Quarter
Net Income
$7.7
Diluted Common Earnings per Share
$0.28
Common Return on Average Assets
*
0.73%
Common Return on Average Equity
*
5.67%
Dollars in millions
*
Annualized |
 11
Income Statement
Dollars in millions
$0.39
$10.9
(1.6)
(4.7)
17.2
(8.3)
-
(24.9)
50.4
12.3
$38.1
Third
Quarter
2010
2010
2009
Second
Quarter
Third
Quarter
Net Interest Income –
FTE
$37.8
$38.1
Noninterest Income
11.4
10.3
Total Revenue
49.2
48.4
Noninterest Expense
(25.7)
(24.8)
Security Gains (Losses)
0.1
(2.1)
Provision for Loan Losses
(9.1)
(8.4)
Net Income Before Taxes
14.5
13.1
Taxes
(5.1)
(3.9)
Preferred Stock Dividends
(1.5)
(1.5)
Net Income Available to Common
Shareholders
$7.9
$7.7
Diluted Common Earnings per Share
$0.28
$0.28 |
 12
Net Interest Margin
4.09
1.21
2.90
1.08
4.99
5.10
3.82%
Third
Quarter
2010
2010
2009
Second
Quarter
Third
Quarter
Securities -
FTE
3.89%
4.11%
Loans -
FTE
5.12
5.25
Total Earning Assets
5.01
5.13
Deposits
1.15
1.37
Borrowings
2.79
2.71
Total Costing Liabilities
1.28
1.54
Net Interest Margin -
FTE
4.05
3.94 |
 13
Noninterest Income
Dollars in millions
$12.3
0.1
1.6
0.6
2.1
1.9
$ 6.0
Third
Quarter
2010
2010
2009
Second
Quarter
Third
Quarter
Community Banking
$ 6.6
$ 5.7
Wealth Management
1.9
1.9
Insurance
2.0
2.0
Letters of Credit / Loan
0.8
0.8
Mortgage Banking
0.2
-
Other
(0.1)
(0.1)
Total
$11.4
$10.3 |
 14
Balance Sheet
Dollars in millions
$4,098
575
49
169
$3,305
$4,098
482
3,315
$301
Sept. 30,
2010
June 30,
2010
Sept. 30,
2009
Securities
$340
$390
Loans, Net
3,343
3,385
Other
456
433
Total Assets
$4,139
$4,208
Deposits
$3,297
$3,280
Borrowings
227
331
Other
49
55
Equity
566
542
Total Liabilities & Equity
$4,139
$4,208 |
 15
Loan Portfolio
Dollars in millions
$3,371
$2,471
306
728
$1,437
$900
7
76
366
$451
Sept. 30,
2010
June 30,
2010
Sept. 30,
2009
Consumer
Home Equity
$451
$459
Residential Mortgage
364
368
Consumer Installment
77
81
Construction
10
12
Total Consumer
$902
$920
Commercial
Commercial Real Estate
$1,424
$1,425
Commercial & Industrial
734
748
Construction
337
353
Total Commercial
$2,495
$2,526
Total Loans
$3,397
$3,446 |
 16
Asset Quality
*
YTD September 30, 2010 Annualized
75
1.67
0.99
2.45
2.23%
2010
Sept. 30,
1.25
1.23
1.20
1.75
Loan Loss Reserve / Total Loans
December 31,
101
0.31
1.21
1.19%
2008
66
1.60
2.80
2.67%
2009
2007
2006
Nonperforming Loans / Total Loans
0.60%
0.74%
Nonperforming Assets / Total Loans Plus
OREO
0.62
0.76
Net
Charge-offs
/
Average
Loans
*
0.17
0.49
Loan Loss Reserve / Nonperforming Loans
204
167 |
 Nonperforming Loans
90
2.75
$ 67.9
Total Commercial
10
2.48
7.6
Construction
11
1.16
8.5
Commercial & Industrial
69
3.60
$ 51.8
Commercial Real Estate
Commercial
10
0.83
$ 7.4
Total Consumer
1
7.63
0.5
Construction
-
0.12
0.1
Consumer Installment
7
1.41
5.1
Residential Mortgage
2
0.38
$ 1.7
Home Equity
% of
Total NPL
Consumer
% NPL
Sept. 30,
2010
Total Nonperforming Loans
100
2.23
$ 75.3
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 $10.5
USDA Guarantee $6.8
17 |
 Construction & CRE by Type
(4)
97
5
93
RE Develop –
Residential
(14)
242
13
228
Offices
100
16
5
6
6
8
11
13
17
$1,743
273
92
112
103
129
196
218
$ 299
($ 35)
$1,778
Total
(11)
284
Miscellaneous
(4)
96
Healthcare/Education
102
Flex/Mixed Use
(1)
104
RE Develop –
CL
3
126
Manuf/Industrial/Warehouse
43
153
Hotels
(44)
262
Residential Rental Properties
($13)
$ 312
Retail/Strip Malls
Change
Type
18
Dollars in millions
Sept. 30,
2010
% of Total
Sept. 30,
2009
10 |
 Construction & CRE –
NPL by Type
8
5.35
5.0
RE Develop –
Residential
5
1.33
3.0
Offices
7
1.29
$ 3.9
Retail/Strip Malls
100
3.41
$59.4
Total
26
5.64
15.4
Miscellaneous
7
4.31
4.0
Healthcare/Education
5
2.84
3.1
Flex/Mixed Use
15
8.90
9.1
RE Develop –
CL
1
0.43
0.6
Manuf/Industrial/Warehouse
4
1.31
2.6
Hotels
22
5.79
12.7
Residential Rental Properties
% of
Total NPL
Type
% NPL
Sept. 30,
2010
19
Dollars in millions |
 Construction & CRE by Location
1
30
2
31
Southwest Region
10
12
1
22
West Virginia
-
13
1
13
Western Region
-
12
1
12
Mid-Atlantic Region
100
1
1
3
1
4
6
79
$1,743
11
24
55
20
70
102
$1,383
($35)
$1,778
Total
-
11
New England
-
24
Midwest Region
6
49
Southeast Region
7
13
Tennessee
(4)
74
Ohio
90
New York
($67)
$1,450
Pennsylvania
Change
Location
20
Dollars in millions
Sept. 30,
2009
% of
Total
Sept. 30,
2010
12 |
 Construction & CRE –
NPL by Location
2
4.60
1.4
Southwest Region
-
-
-
West Virginia
78
3.31
$45.7
Pennsylvania
13
71.87
8.0
New England
100
3.41
$59.4
Total
-
-
-
Mid-Atlantic Region
-
-
-
Western Region
-
-
-
Midwest Region
4.48
2.5
Southeast Region
-
-
-
Tennessee
-
-
-
Ohio
3
1.77
1.8
New York
% of
Total NPL
Location
% NPL
Sept. 30,
2010
21
Dollars in millions
4 |
 22
Securities
$301
23
11
73
49
45
$100
Third
Quarter
2010
13
11
Equities
2010
2009
Second
Quarter
Third
Quarter
Agencies
$124
$123
Agency CMO
50
65
Agency MBS
54
67
Municipals
78
99
FHLB Stock
23
23
Total
$340
$390
All securities are classified as available-for sale
Dollars in millions |
 23
Deposits
Dollars in millions
921
845
823
Certificates of Deposit < $100K
732
743
746
Savings
2010
2010
2009
Third
Quarter
Second
Quarter
Third
Quarter
Noninterest-bearing Demand
$ 744
$ 733
$ 674
Interest-bearing Demand
277
260
241
Money Market
247
251
239
Certificates Of Deposit > $100K
468
465
473
Total
$3,305
$3,297
$3,280 |
 24
Borrowings
Dollars in millions
70
70
70
Subordinated Debt
2010
2010
2009
Third
Quarter
Second
Quarter
Third
Quarter
Repos and FFP
$ 48
$ 44
$ 61
Short-term Borrowings
-
52
83
Long-term Borrowings
30
40
96
Trust Preferred
21
21
21
Total
$169
$227
$331 |
 25
Capital
Sept. 30
2010
June 30
2010
Sept. 30
2009
Well-
Capitalized
Leverage
*
10.92%
10.64%
9.92%
5.00%
Tier 1 –
Risk-Based Capital
*
12.97
12.52
11.57
6.00
Total –
Risk-Based Capital
*
16.35
15.87
14.86
10.00
Tangible Common Equity /
Tangible Assets
7.53
7.23
6.48
NA
*
Includes CPP of $108.7 million |
 26
|
 S&T Strategy Map
27
One Customer at a Time
Culture of
Collaboration
Integration
Based on
Customer Needs
Market
Composition
Develop & Align
Infrastructure
Shareholder
Value
High Performance |
 |