8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

October 19, 2020

Date of Report (date of earliest event reported)

S&T BANCORP, INC

(Exact name of registrant as specified in its charter)

Pennsylvania	0-12508		25-1434426
(State or other jurisdiction of incorporation or organization)	(Commission File Number)		(I.R.S. 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 or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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	The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

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. ☐

Item 2.02 Results of Operations and Financial Condition.

On October 22, 2020 S&T Bancorp, Inc. announced by press release its earnings for the three and nine months ended September 30, 2020. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference in this Item 2.02. The information contained in this Item 2.02 of this Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Exchange Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 7.01 Regulation FD Disclosure

In connection with the issuance of its earnings for the three and nine months ended September 30, 2020, S&T has also made available on its website materials that contain supplemental information about S&T’s financial results (“Supplemental Information”). A copy of the Supplemental Information is included in this Current Report as Exhibit 99.2 and is incorporated by reference in this Item 7.01. The information contained in this Item 7.01 of this Report on Form 8-K, including Exhibit 99.2 hereto, is being furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by reference in such a filing.

Item 8.01 Other Events.

The Board of Directors of S&T declared a $0.28 per share cash dividend on October 19, 2020. A copy of the press release is attached hereto as Exhibit 99.3. This is comparable to a dividend of $0.28 per share declared in the same period last year. The dividend is payable November 19, 2020 to shareholders of record on November 5, 2020.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	Description of Exhibit
99.1	Press Release
99.2	Supplemental Information
99.3	Dividend Release
104	Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed by the undersigned thereunto duly authorized.

	S&T Bancorp, Inc.
	/s/ Mark Kochvar
October 22, 2020	Mark Kochvar Senior Executive Vice President, Chief Financial Officer

EX-99.1

CONTACT: Mark Kochvar Chief Financial Officer 724.465.4826 800 Philadelphia Street Indiana, PA 15701 mark.kochvar@stbank.com www.stbancorp.com

FOR IMMEDIATE RELEASE        

S&T Bancorp, Inc. Announces Third Quarter 2020 Results

Indiana, Pa. - October 22, 2020 - S&T Bancorp, Inc. (S&T) (NASDAQ: STBA), the holding company for S&T Bank, with operations in five markets including Western Pennsylvania, Eastern Pennsylvania, Northeast Ohio, Central Ohio and Upstate New York, announced net income of $16.7 million, or $0.43 per diluted share, for the third quarter of 2020 compared to a net loss of ($33.1) million, or ($0.85) per diluted share, for the second quarter of 2020, and net income of $26.9 million, or $0.79 per diluted share, for the third quarter of 2019. The net loss in the second quarter of 2020 was due to a customer fraud resulting from a check kiting scheme which reduced net income by $46.3 million, or $1.19 per diluted share. S&T continues to pursue all available sources of recovery to mitigate the loss.

Third Quarter of 2020 Highlights:

•Return on average assets (ROA) was 0.72%, return on average equity (ROE) was 5.80% and return on average tangible equity (ROTE) (non-GAAP) was 8.96%. Pre-tax pre-provision to average assets (non-GAAP) was 1.61%.

•Net interest margin (FTE) (non-GAAP) was stable at 3.29% compared to 3.31% for the second quarter of 2020.

•Portfolio loans decreased $153.7 million compared to June 30, 2020.

•Deposits decreased $234.1 million to $7.6 billion at September 30, 2020 due to the pay down of $269.0 million of brokered deposits during the third quarter.

•Mortgage banking revenue increased $1.3 million compared to the second quarter due to continued strong refinance activity.

•The allowance for credit losses to total portfolio loans was 1.64% at September 30, 2020 compared to 1.52% at June 30, 2020. Excluding PPP loans, the allowance for credit losses to total portfolio loans was 1.77% at September 30, 2020 compared to 1.64% at June 30, 2020.

•S&T's Board of Directors declared a $0.28 per share dividend which was consistent with the $0.28 per share dividend declared in the same period in the prior year.

“We continue to navigate through this difficult environment related to the COVID-19 pandemic,” said Todd Brice, Chief Executive Officer. “I have every confidence in the S&T team to work through these difficult times, and I am impressed by their strong resilience and desire to help our customers and communities.”

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S&T Earnings Release -2

Net Interest Income

Net interest income decreased $0.8 million to $69.3 million for the third quarter of 2020 compared to $70.1 million for the second quarter of 2020. The decrease in net interest income was primarily due to lower loan balances as lower yields on loans were mostly offset by decreased rates on deposits. Average loans decreased $154.2 million compared to the second quarter of 2020. Net interest margin on a fully taxable equivalent basis (FTE) (non-GAAP) was stable at 3.29% for the third quarter of 2020 compared to 3.31% in the second quarter of 2020. Loan rates decreased 13 basis points to 3.87% and total interest-bearing deposit costs decreased 19 basis points to 0.48%.

Asset Quality

The provision for credit losses was $17.5 million for the third quarter of 2020 compared to $86.8 million in the second quarter of 2020. The customer fraud that resulted in a $58.7 million charge-off to the bank had a significant impact on the provision for credit losses during the second quarter of 2020. Net loan charge-offs were $12.9 million for the third quarter of 2020 compared to $68.1 million in the second quarter of 2020. During the third quarter, a $21.3 million CRE relationship, which was placed on nonaccrual in the first quarter of 2020, was charged down by $10.0 million leaving a remaining outstanding balance of $11.3 million. The relationship experienced continued deterioration as a result of the COVID-19 pandemic.Total nonperforming loans decreased $6.0 million to $84.1 million, or 1.13% of total loans, at September 30, 2020 compared to $90.1 million, or 1.19% of total loans at June 30, 2020. The allowance for credit losses was 1.64% of total portfolio loans as of September 30, 2020 compared to 1.52% at June 30, 2020. Excluding PPP loans, the allowance for credit losses was 1.77% of total portfolio loans at September 30, 2020 compared to 1.64% at June 30, 2020. The impact of the COVID-19 pandemic on our hotel loan portfolio and a $6.2 million increase in specific reserves contributed to the higher allowance for credit losses at September 30, 2020 compared to June 30, 2020.

Noninterest Income and Expense

Noninterest income increased $1.3 million to $16.5 million in the third quarter of 2020 compared to $15.2 million in the second quarter of 2020. Mortgage banking income increased $1.3 million compared to the second quarter of 2020 due to continued strong refinance activity. Both debit and credit card fees and service charges on deposit accounts increased due to improved customer activity compared to the second quarter of 2020.

Noninterest expense increased $4.8 million to $48.3 million for the third quarter of 2020 compared to $43.5 million in the second quarter of 2020. Salaries and employee benefits increased $3.2 million due to lower deferred origination costs related to PPP loans, higher pension costs due to an increase in retirements and a return to more normal medical costs compared to the second quarter of 2020. FDIC insurance increased $0.9 million due to the impact of recent results on certain components of the assessment calculation. Marketing expense increased

$0.8 million due to the timing of marketing initiatives and the redesign of our website.

Financial Condition

Total assets decreased $283.7 million to $9.2 billion at September 30, 2020 compared to $9.5 billion at June 30, 2020. Portfolio loans decreased $153.7 million compared to June 30, 2020 as loan originations continue to be impacted by the COVID-19 pandemic. The securities portfolio declined $86.2 million compared to June 30, 2020 mainly due to short term investments maturing in conjunction with our planned reduction of $269 million in brokered deposits. The decrease in brokered deposits resulted in a decline in total deposits of $234.1 million to $7.6 billion at September 30, 2020 compared to $7.9 billion at June 30, 2020. Customer deposits, which increased significantly during the second quarter of 2020, remained relatively unchanged in the third quarter despite decreases in deposit rates.

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All regulatory capital ratios increased at September 30, 2020 compared to June 30, 2020. S&T continues to maintain a strong capital position with all capital ratios above the well-capitalized thresholds of federal bank regulatory agencies.

Dividend

The Board of Directors of S&T declared a $0.28 per share cash dividend on October 19, 2020. This is unchanged from the same period in the prior year. The dividend is payable November 19, 2020 to shareholders of record on November 5, 2020.

Conference Call

S&T will host its third quarter 2020 earnings conference call live over the Internet at 1:00 p.m. ET on Thursday, October 22, 2020. To access the webcast, go to S&T’s webpage at www.stbancorp.com and click on “Events & Presentations.” Select “3rd Quarter 2020 Earnings Conference Call” and follow the instructions. After the live presentation, the webcast will be archived on this website for at least 90 days. A replay of the call will also be available until October 29, 2020, by dialing 1.877.481.4010; the Conference ID is 37817.

About S&T Bancorp, Inc. and S&T Bank

S&T Bancorp, Inc. is a $9.2 billion bank holding company that is headquartered in Indiana, Pennsylvania and trades on the NASDAQ Global Select Market under the symbol STBA. Its principal subsidiary, S&T Bank, was recently ranked #1 in customer satisfaction with retail banking in the Mid-Atlantic including best in communication and advice by J.D. Power. Established in 1902, S&T Bank operates in five markets including Western Pennsylvania, Eastern Pennsylvania, Northeast Ohio, Central Ohio, and Upstate New York. For more information visit stbancorp.com or stbank.com. Follow us on Facebook, Instagram, and LinkedIn.

This information 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”, “believe”, “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; cyber-security concerns; rapid technological developments and changes; operational risks or risk management failures by us or critical third parties, including fraud risk; our ability to manage our reputational risks; sensitivity to the interest rate environment including a prolonged period of low interest rates, 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; changes in accounting policies, practices, or guidance, for example, our adoption of CECL; legislation affecting the financial services industry as a whole, and S&T, in particular; the outcome of pending and future litigation and governmental proceedings; increasing price and product/service competition; the ability to continue to introduce

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S&T Earnings Release -4

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, including DNB, 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 employees; general economic or business conditions, including the strength of regional economic conditions in our market area; the duration and severity of the coronavirus (“COVID-19”) pandemic, both in our principal area of operations and nationally, including the ultimate impact of the pandemic on the economy generally and on our operations; 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.

Many of these factors, as well as other factors, are described in our Annual Report on Form 10-K for the year ended December 31, 2019, including Part I, Item 1A-"Risk Factors" 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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S&T Bancorp, Inc.	S&T Earnings Release -	5
Consolidated Selected Financial Data
Unaudited

	2020		2020		2019
	Third		Second		Third
(dollars in thousands, except per share data)	Quarter		Quarter		Quarter
INTEREST AND DIVIDEND INCOME
Loans, including fees	$72,263		$75,498		$75,080
Investment securities:
Taxable	3,473		3,791		3,552
Tax-exempt	885		959		787
Dividends	227		231		394
Total Interest and Dividend Income	76,848		80,479		79,813
INTEREST EXPENSE
Deposits	6,626		9,227		16,207
Borrowings and junior subordinated debt securities	946		1,104		2,410
Total Interest Expense	7,572		10,331		18,617
NET INTEREST INCOME	69,276		70,148		61,196
Provision for credit losses	17,485		86,759		4,913
Net Interest Income (Loss) After Provision for Credit Losses	51,791		(16,611)		56,283
NONINTEREST INCOME
Net gain on sale of securities	—		142		—
Debit and credit card	4,171		3,612		3,475
Mortgage banking	3,964		2,623		594
Service charges on deposit accounts	2,820		2,342		3,412
Wealth management	2,522		2,586		2,101
Commercial loan swap income	499		945		1,464
Other	2,507		2,974		2,017
Total Noninterest Income	16,483		15,224		13,063
NONINTEREST EXPENSE
Salaries and employee benefits	24,571		21,419		19,936
Data processing and information technology	4,218		3,585		3,681
Net occupancy	3,441		3,437		2,898
Furniture, equipment and software	2,440		3,006		2,090
Professional services and legal	1,911		1,932		1,054
FDIC insurance	1,900		1,048		(675)
Marketing	1,793		979		1,062
Other taxes	1,612		1,604		1,540
Merger related expense	—		—		552
Other	6,360		6,468		5,529
Total Noninterest Expense	48,246		43,478		37,667
Income (Loss) Before Taxes	20,028		(44,865)		31,679
Income tax expense (benefit)	3,323		(11,793)		4,743
Net Income (Loss)	$16,705		($33,072)		$26,936
Per Share Data
Shares outstanding at end of period	39,251,638		39,253,460		34,244,719
Average shares outstanding - diluted	39,020,811		39,013,161		34,277,270
Diluted earnings (loss) per share	$0.43		($0.85)		$0.79
Dividends declared per share	$0.28		$0.28		$0.27
Dividend yield (annualized)	6.33	%	4.78	%	2.96	%
Dividends paid to net income	65.61	%	NM		34.30	%
Book value	$29.10		$28.93		$28.69
Tangible book value(1)	$19.40		$19.22		$20.25
Market value	$17.69		$23.45		$36.53
Profitability Ratios (Annualized)
Return on average assets	0.72	%	(1.41	%)	1.45	%
Return on average shareholders' equity	5.80	%	(11.17	%)	10.97	%
Return on average tangible shareholders' equity (2)	8.96	%	(16.19	%)	15.69	%
Efficiency ratio (FTE)(3)	55.75	%	50.51	%	50.09	%
NM - Not Meaningful

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S&T Bancorp, Inc.	S&T Earnings Release -	6
Consolidated Selected Financial Data
Unaudited

	Nine Months Ended September 30,
(dollars in thousands, except per share data)	2020		2019
INTEREST INCOME
Loans, including fees	$229,812		$223,200
Investment securities:
Taxable	11,547		10,989
Tax-exempt	2,646		2,466
Dividends	911		1,373
Total Interest and Dividend Income	244,916		238,028
INTEREST EXPENSE
Deposits	31,191		47,243
Borrowings and junior subordinated debt securities	4,265		8,406
Total Interest Expense	35,456		55,649
NET INTEREST INCOME	209,460		182,379
Provision for credit losses	124,294		12,767
Net Interest Income After Provision for Credit Losses	85,166		169,612
NONINTEREST INCOME
Net gain on sale of securities	142		—
Debit and credit card	11,264		9,951
Mortgage banking	7,823		1,726
Service charges on deposit accounts	8,720		9,777
Wealth management	7,471		6,210
Commercial swap fee income	3,928		3,147
Other	4,762		6,515
Total Noninterest Income	44,110		37,326
NONINTEREST EXPENSE
Salaries and employee benefits	67,326		61,135
Data processing and information technology	11,671		10,327
Net occupancy	10,643		8,883
Furniture, equipment and software	7,965		6,621
Professional services and legal	4,890		3,382
FDIC insurance	3,718		536
Marketing	3,883		3,514
Other taxes	4,816		4,182
Merger related expense	2,342		1,171
Other	20,861		17,187
Total Noninterest Expense	138,115		116,938
(Loss) Income Before Taxes	(8,839)		90,000
Income tax (benefit) expense	(5,703)		14,035
Net (Loss) Income	($3,136)		$75,965
Per Share Data
Average shares outstanding - diluted	39,101,309		34,407,732
Diluted (loss) earnings per share	($0.08)		$2.21
Dividends declared per share	$0.84		$0.81
Dividends paid to net income	NM		36.59	%
Profitability Ratios (annualized)
Return on average assets	(0.05	%)	1.40	%
Return on average shareholders' equity	(0.36	%)	10.61	%
Return on average tangible shareholders' equity (6)	(0.27	%)	15.30	%
Efficiency ratio (FTE) (7)	53.06	%	52.54	%
NM - Not Meaningful

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S&T Bancorp, Inc.	S&T Earnings Release -	7
Consolidated Selected Financial Data
Unaudited

	2020		2020		2019
	Third		Second		Third
(dollars in thousands)	Quarter		Quarter		Quarter
ASSETS
Cash and due from banks, including interest-bearing deposits	$308,489		$351,365		$173,609
Securities, at fair value	718,169		804,366		669,226
Loans held for sale	16,724		14,259		8,371
Commercial loans:
Commercial real estate	3,290,138		3,345,513		2,922,197
Commercial and industrial	2,042,467		2,140,355		1,626,854
Commercial construction	477,429		459,264		314,813
Total Commercial Loans	5,810,034		5,945,132		4,863,864
Consumer loans:
Residential mortgage	950,887		971,023		770,882
Home equity	537,869		539,519		475,024
Installment and other consumer	80,735		79,816		74,460
Consumer construction	15,343		13,068		11,535
Total Consumer Loans	1,584,834		1,603,426		1,331,901
Total Portfolio Loans	7,394,868		7,548,558		6,195,765
Allowance for credit losses	(120,998)		(114,609)		(62,115)
Total Portfolio Loans, Net	7,273,870		7,433,949		6,133,650
Federal Home Loan Bank and other restricted stock, at cost	15,777		15,151		25,397
Goodwill	373,417		373,289		287,446
Other assets	484,126		481,917		274,292
Total Assets	$9,190,572		$9,474,296		$7,571,991
LIABILITIES
Deposits:
Noninterest-bearing demand	$2,232,706		$2,250,958		$1,490,409
Interest-bearing demand	982,956		1,055,261		751,881
Money market	2,033,585		2,121,588		1,660,569
Savings	938,475		916,268		753,464
Certificates of deposit	1,446,096		1,523,841		1,326,369
Total Deposits	7,633,818		7,867,916		5,982,692
Borrowings:
Securities sold under repurchase agreements	42,706		92,159		13,925
Short-term borrowings	83,000		84,541		370,000
Long-term borrowings	49,076		49,489		69,156
Junior subordinated debt securities	64,068		64,053		45,619
Total Borrowings	238,850		290,242		498,700
Other liabilities	175,789		180,361		108,152
Total Liabilities	8,048,457		8,338,519		6,589,544
SHAREHOLDERS' EQUITY
Total Shareholders' Equity	1,142,115		1,135,777		982,447
Total Liabilities and Shareholders' Equity	$9,190,572		$9,474,296		$7,571,991
Capitalization Ratios
Shareholders' equity / assets	12.43	%	11.99	%	12.97	%
Tangible common equity / tangible assets(4)	8.64	%	8.30	%	9.52	%
Tier 1 leverage ratio	9.11	%	8.89	%	10.20	%
Common equity tier 1 capital	11.05	%	10.70	%	11.17	%
Risk-based capital - tier 1	11.46	%	11.10	%	11.49	%
Risk-based capital - total	13.18	%	12.74	%	12.92	%

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S&T Bancorp, Inc.	S&T Earnings Release -	8
Consolidated Selected Financial Data
Unaudited

	2020		2020		2019
	Third		Second		Third
(dollars in thousands)	Quarter		Quarter		Quarter
Net Interest Margin (FTE) (QTD Averages)
ASSETS
Interest-bearing deposits with banks	$213,051	0.11%	$163,019	0.08%	$53,725	2.32%
Securities, at fair value	759,094	2.41%	785,229	2.56%	661,752	2.59%
Loans held for sale	4,432	3.09%	9,931	3.08%	2,712	3.98%
Commercial real estate	3,322,656	4.02%	3,389,616	4.23%	2,922,767	4.89%
Commercial and industrial	2,107,750	3.45%	2,200,148	3.61%	1,566,369	5.06%
Commercial construction	469,214	3.43%	430,912	3.75%	282,175	5.14%
Total Commercial Loans	5,899,620	3.77%	6,020,676	3.97%	4,771,311	4.96%
Residential mortgage	954,861	4.33%	976,916	4.20%	753,649	4.41%
Home equity	536,735	3.73%	543,770	3.69%	469,567	5.36%
Installment and other consumer	79,649	6.47%	79,944	6.34%	72,606	7.10%
Consumer construction	14,475	4.32%	12,758	4.58%	11,056	5.39%
Total Consumer Loans	1,585,720	4.24%	1,613,388	4.14%	1,306,878	4.91%
Total Portfolio Loans	7,485,340	3.87%	7,634,064	4.00%	6,078,189	4.95%
Total Loans	7,489,772	3.87%	7,643,995	4.00%	6,080,901	4.95%
Federal Home Loan Bank and other restricted stock	15,157	5.11%	19,709	3.75%	19,981	7.00%
Total Interest-earning Assets	8,477,074	3.65%	8,611,952	3.80%	6,816,359	4.70%
Noninterest-earning assets	815,930		817,767		538,514
Total Assets	$9,293,004		$9,429,719		$7,354,873
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing demand	$967,735	0.18%	$1,033,905	0.24%	$655,735	0.72%
Money market	2,074,862	0.33%	2,076,483	0.50%	1,709,248	1.83%
Savings	923,208	0.07%	887,357	0.07%	749,287	0.24%
Certificates of deposit	1,486,016	1.16%	1,560,885	1.51%	1,345,474	1.97%
Total Interest-bearing Deposits	5,451,821	0.48%	5,558,630	0.67%	4,459,744	1.44%
Securities sold under repurchase agreements	64,000	0.25%	85,302	0.25%	14,030	0.73%
Short-term borrowings	84,310	0.38%	178,273	0.38%	218,799	2.47%
Long-term borrowings	49,269	2.52%	49,774	2.53%	69,421	2.68%
Junior subordinated debt securities	64,057	3.19%	64,044	3.58%	45,619	4.82%
Total Borrowings	261,636	1.44%	377,393	1.18%	347,869	2.75%
Total Interest-bearing Liabilities	5,713,457	0.53%	5,936,023	0.70%	4,807,613	1.54%
Noninterest-bearing liabilities	2,433,665		2,302,676		1,573,549
Shareholders' equity	1,145,882		1,191,020		973,711
Total Liabilities and Shareholders' Equity	$9,293,004		$9,429,719		$7,354,873
Net Interest Margin(5)		3.29%		3.31%		3.62%

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S&T Bancorp, Inc.	S&T Earnings Release -	9
Consolidated Selected Financial Data
Unaudited

	Nine Months Ended September 30,
(dollars in thousands)	2020		2019
Net Interest Margin (FTE) (YTD Averages)
ASSETS
Interest-bearing deposits with banks	$158,771	0.38%	$52,421	2.38%
Securities, at fair value	776,995	2.50%	671,727	2.65%
Loans held for sale	5,407	3.17%	1,693	4.11%
Commercial real estate	3,373,466	4.33%	2,907,792	4.97%
Commercial and industrial	2,020,179	3.82%	1,544,962	5.14%
Commercial construction	428,977	3.91%	258,239	5.28%
Total Commercial Loans	5,822,622	4.12%	4,710,993	5.04%
Residential mortgage	974,144	4.24%	736,972	4.43%
Home equity	540,220	4.09%	466,936	5.41%
Installment and other consumer	79,757	6.60%	71,021	7.17%
Consumer construction	12,587	4.49%	10,517	5.63%
Total Consumer Loans	1,606,708	4.31%	1,285,446	4.95%
Total Portfolio Loans	7,429,330	4.16%	5,996,439	5.02%
Total Loans	7,434,737	4.16%	5,998,132	5.02%
Federal Home Loan Bank and other restricted stock	19,473	5.38%	21,848	7.55%
Total Interest-earning Assets	8,389,976	3.94%	6,744,128	4.77%
Noninterest-earning assets	772,404		526,788
Total Assets	$9,162,380		$7,270,916
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing demand	$981,174	0.33%	$584,280	0.54%
Money market	2,048,466	0.69%	1,658,187	1.88%
Savings	880,673	0.12%	760,128	0.25%
Certificates of deposit	1,549,177	1.50%	1,389,658	1.94%
Total Interest-bearing deposits	5,459,490	0.76%	4,392,253	1.44%
Securities sold under repurchase agreements	60,045	0.30%	17,812	0.63%
Short-term borrowings	182,623	1.02%	259,947	2.65%
Long-term borrowings	50,292	2.52%	69,886	2.79%
Junior subordinated debt securities	64,099	3.72%	45,619	5.02%
Total Borrowings	357,059	1.60%	393,264	2.86%
Total Interest-bearing Liabilities	5,816,549	0.81%	4,785,517	1.55%
Noninterest-bearing liabilities	2,170,447		1,528,573
Shareholders' equity	1,175,384		956,826
Total Liabilities and Shareholders' Equity	$9,162,380		$7,270,916
Net Interest Margin (8)		3.37%		3.67%

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S&T Bancorp, Inc.	S&T Earnings Release -	10
Consolidated Selected Financial Data
Unaudited

	2020		2020		2019
	Third		Second		Third
(dollars in thousands)	Quarter		Quarter		Quarter
Nonperforming Loans (NPL)
Commercial loans:		% NPL		% NPL		% NPL
Commercial real estate	$52,805	1.60%	$61,643	1.84%	$33,740	1.15%
Commercial and industrial	12,498	0.61%	8,484	0.40%	4,206	0.26%
Commercial construction	1,504	0.31%	1,504	0.33%	1,143	0.36%
Total Nonperforming Commercial Loans	66,807	1.15%	71,631	1.20%	39,089	0.80%
Consumer loans:
Residential mortgage	13,018	1.37%	14,649	1.51%	7,384	0.96%
Home equity	4,106	0.76%	3,814	0.71%	3,492	0.74%
Installment and other consumer	141	0.17%	19	0.02%	18	0.02%
Total Nonperforming Consumer Loans	17,265	1.08%	18,482	1.14%	10,894	0.81%
Total Nonperforming Loans	$84,072	1.13%	$90,113	1.19%	$49,983	0.81%

	2020	2020	2019
	Third	Second	Third
(dollars in thousands)	Quarter	Quarter	Quarter
Loan Charge-offs (Recoveries)
Charge-offs	$13,667	$68,304	$4,700
Recoveries	(754)	(231)	(423)
Net Loan Charge-offs (Recoveries)	$12,913	$68,072	$4,277
Net Loan Charge-offs (Recoveries)
Commercial loans:
Customer fraud	$—	$58,671	$—
Commercial real estate	10,963	5,588	2,298
Commercial and industrial	1,267	3,060	1,257
Commercial construction	(1)	(19)	(1)
Total Commercial Loan Charge-offs (Recoveries)	12,229	67,300	3,554
Consumer loans:
Residential mortgage	274	74	289
Home equity	204	16	13
Installment and other consumer	206	682	421
Total Consumer Loan Charge-offs	684	772	723
Total Net Loan Charge-offs (Recoveries)	$12,913	$68,072	$4,277

	Nine Months Ended September 30,
(dollars in thousands)	2020	2019
Loan Charge-offs (Recoveries)
Charge-offs	$93,415	$13,391
Recoveries	(1,273)	(1,743)
Net Loan Charge-offs (Recoveries)	$92,142	$11,648
Net Loan Charge-offs (Recoveries)
Commercial loans:
Customer fraud	$58,671	$—
Commercial real estate	16,979	2,699
Commercial and industrial	14,592	7,661
Commercial construction	(22)	(4)
Total Commercial Loan Charge-offs/(Recoveries)	90,220	10,356
Consumer loans:
Residential mortgage	367	251
Home equity	301	51
Installment and other consumer	1,254	1,072
Consumer construction	—	(82)
Total Consumer Loan Charge-offs	1,922	1,292
Total Net Loan Charge-offs (Recoveries)	$92,142	$11,648

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S&T Bancorp, Inc.	S&T Earnings Release -	11
Consolidated Selected Financial Data
Unaudited

	2020		2020		2019
	Third		Second		Third
(dollars in thousands)	Quarter		Quarter		Quarter
Asset Quality Data
Nonperforming loans	$84,072		$90,113		$49,983
OREO	2,317		2,740		1,724
Nonperforming assets	86,389		92,853		51,707
Troubled debt restructurings (nonaccruing)	18,648		31,755		14,496
Troubled debt restructurings (accruing)	18,478		15,536		38,434
Total troubled debt restructurings	37,126		47,291		52,930
Nonperforming loans / total loans	1.13	%	1.19	%	0.81	%
Nonperforming assets / total loans plus OREO	1.17	%	1.23	%	0.83	%
Allowance for credit losses / total portfolio loans	1.64	%	1.52	%	1.00	%
Allowance for credit losses / nonperforming loans	144	%	127	%	124	%
Net loan charge-offs (recoveries)	$12,913		$68,072		$4,277
Net loan charge-offs (recoveries)(annualized) / average loans	0.69	%	3.58	%	0.28	%

	Nine Months Ended September 30,
(dollars in thousands)	2020		2019
Asset Quality Data
Net loan charge-offs (recoveries)	$92,142		$11,648
Net loan charge-offs (recoveries)(annualized) / average loans	1.66	%	0.26	%

S&T Bancorp, Inc.	S&T Earnings Release -	12
Consolidated Selected Financial Data
Unaudited

Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures:

	2020		2020		2019
	Third		Second		Third
	Quarter		Quarter		Quarter
(1)Tangible Book Value (non-GAAP)
Total shareholders' equity	$1,142,115		$1,135,777		$982,447
Less: goodwill and other intangible assets	(382,681)		(383,032)		(289,538)
Tax effect of other intangible assets	1,946		2,046		439
Tangible common equity (non-GAAP)	$761,380		$754,791		$693,348
Common shares outstanding	39,252		39,263		34,245
Tangible book value (non-GAAP)	$19.40		$19.22		$20.25
(2) Return on Average Tangible Shareholders' Equity (non-GAAP)
Net (loss) income (annualized)	$66,455		($133,016)		$106,865
Plus: amortization of intangibles (annualized)	2,619		2,623		647
Tax effect of amortization of intangibles (annualized)	(550)		(551)		(136)
Net (loss) income before amortization of intangibles (annualized)	$68,524		($130,944)		$107,376
Average total shareholders' equity	$1,145,882		$1,191,020		$973,711
Less: average goodwill and other intangible assets	(382,780)		(384,197)		(289,622)
Tax effect of average goodwill and other intangible assets	1,999		2,116		457
Average tangible equity (non-GAAP)	$765,101		$808,939		$684,546
Return on average tangible shareholders' equity (non-GAAP)	8.96	%	(16.19	%)	15.69	%
(3) Efficiency Ratio (non-GAAP)
Noninterest expense	$48,246		$43,478		$37,667
Less: merger related expenses	—		—		—
Noninterest expense excluding nonrecurring items	$48,246		$43,478		$37,667
Net interest income per consolidated statements of net income	$69,276		$70,148		$61,196
Less: net (gains) losses on sale of securities	—		(142)		—
Plus: taxable equivalent adjustment	780		847		934
Net interest income (FTE) (non-GAAP)	$70,056		$70,853		$62,130
Noninterest income	16,483		15,224		13,063
Net interest income (FTE) (non-GAAP) plus noninterest income	$86,539		$86,077		$75,193
Efficiency ratio (non-GAAP)	55.75	%	50.51	%	50.09	%
(4) Tangible Common Equity / Tangible Assets (non-GAAP)
Total shareholders' equity	$1,142,115		$1,135,777		$982,447
Less: goodwill and other intangible assets	(382,681)		(383,032)		(289,538)
Tax effect of goodwill and other intangible assets	1,946		2,046		439
Tangible common equity (non-GAAP)	$761,380		$754,791		$693,348
Total assets	$9,190,572		$9,474,296		$7,571,991
Less: goodwill and other intangible assets	(382,681)		(383,032)		(289,538)
Tax effect of goodwill and other intangible assets	1,946		2,046		439
Tangible assets (non-GAAP)	$8,809,837		$9,093,310		$7,282,892
Tangible common equity to tangible assets (non-GAAP)	8.64	%	8.30	%	9.52	%
(5) Net Interest Margin Rate (FTE) (non-GAAP)
Interest income	$76,848		$80,479		$79,813
Less: interest expense	7,572		10,331		(18,617)
Net interest income per consolidated statements of net income	$69,276		$70,148		$61,196
Plus: taxable equivalent adjustment	780		847		934
Net interest income (FTE) (non-GAAP)	$70,056		$70,995		$62,130
Net interest income (FTE) (annualized)	$278,701		$285,540		$246,494
Average earning assets	$8,477,074		$8,611,952		$6,816,359
Net interest margin - (FTE) (non-GAAP)	3.29	%	3.31	%	3.62	%

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S&T Bancorp, Inc.	S&T Earnings Release -	13
Consolidated Selected Financial Data
Unaudited

Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures - continued:

	2020
	Third
	Quarter
PTPP / Average Assets (non-GAAP)
Income before taxes	$20,028
Plus: Provision for credit losses	17,485
Total	37,513
Total (annualized) (non-GAAP)	$149,237
Average assets	$9,293,004
PTPP / Average Assets (non-GAAP)	1.61	%
			Nine Months Ended September 30,
			2020		2019
(6) Return on Average Tangible Shareholders' Equity (non-GAAP)
Net (loss) income (annualized)			($4,189)		$101,564
Plus: amortization of intangibles (annualized)			2,595		680
Tax effect of amortization of intangibles (annualized)			(545)		(143)
Net (loss) income before amortization of intangibles (annualized)			($2,140)		$102,101
Average total shareholders' equity			$1,175,384		$956,826
Less: average goodwill and other intangible assets			(383,000)		(289,786)
Tax effect of average goodwill and other intangible assets			2,116		491
Average tangible equity (non-GAAP)			$794,500		$667,531
Return on average tangible equity (non-GAAP)			(0.27	%)	15.30	%
(7) Efficiency Ratio (non-GAAP)
Noninterest expense			$138,115		$116,938
Less: merger related expenses			(2,342)		—
Noninterest expense excluding nonrecurring items			$135,773		$116,938
Net interest income per consolidated statements of net income			$209,460		$182,379
Less: net (gains) losses on sale of securities			(142)		—
Plus: taxable equivalent adjustment			2,477		2,854
Net interest income (FTE) (non-GAAP)			$211,795		$185,233
Noninterest income			44,110		37,326
Net interest income (FTE) (non-GAAP) plus noninterest income			$255,905		$222,559
Efficiency ratio (non-GAAP)			53.06	%	52.54	%
(8) Net Interest Margin Rate (FTE) (non-GAAP)
Interest income			$244,916		$238,028
Less: interest expense			35,456		(55,649)
Net interest income per consolidated statements of net income			209,460		182,379
Plus: taxable equivalent adjustment			2,477		2,854
Net interest income (FTE) (non-GAAP)			$211,937		$185,233
Net interest income (FTE) (annualized)			$283,098		$247,656
Average earning assets			$8,389,976		$6,744,127
Net interest margin - (FTE) (non-GAAP)			3.37	%	3.67	%

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S&T Bancorp, Inc.	S&T Earnings Release -	14
Consolidated Selected Financial Data
Unaudited

The following profitability metrics for the nine months ended September 30, 2020 are adjusted to exclude a $58.7 million loss related to a customer fraud.

	2020
	Nine Months Ended September 30,
Return on Average Tangible Shareholders' Equity (non-GAAP)
Net loss	($3,136)
Provision for credit losses	58,671
Tax effect	(12,321)
Net income excluding fraud	$43,214
Net income excluding fraud (annualized)	$57,724
Plus: amortization of intangibles (annualized)	2,595
Tax effect of amortization of intangibles (annualized)	(545)
Net income before amortization of intangibles (annualized)	$59,774
Average total shareholders' equity	$1,175,384
Less: average goodwill and other intangible assets	(383,000)
Tax effect of average goodwill and other intangible assets	2,116
Average tangible equity (non-GAAP)	$794,500
Return on average tangible shareholders' equity (non-GAAP)	7.52	%
Return on Average Assets (non-GAAP)
Net income excluding fraud (annualized)	$57,724
Average total assets	9,162,380
Return on average assets (non-GAAP)	0.63	%
Return on Average Equity (non-GAAP)
Net income excluding fraud (annualized)	$57,724
Average total shareholders' equity	1,175,384
Return on average assets (non-GAAP)	4.91	%

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EX-99.2

Third Quarter 2020 Earnings Supplement MEMBER FDIC

Forward Looking Statements and Risk Factors This information contains certain 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”, “believe”, “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 loan losses; cyber-security concerns; rapid technological developments and changes; operational risks or risk management failures by us or critical third parties, including fraud risk; our ability to manage our reputational risks; sensitivity to the interest rate environment including a prolonged period of low interest rates, 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; changes in accounting policies, practices, or guidance, for example, our adoption of CECL; legislation affecting the financial services industry as a whole, and S&T, in particular; 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, including DNB, 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 employees; general economic or business conditions, including the strength of regional economic conditions in our market area; the duration and severity of the corona virus (“COVID-19”) pandemic, both in our principal area of operations and nationally, including the ultimate impact of the pandemic on the economy generally and on our operations; 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. Many of these factors, as well as other factors, are described in our 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. Non-GAAP Financial Measures In addition to the results of operations presented in accordance with Generally Accepted Accounting Principles (GAAP), S&T management uses and this presentation contains or references certain non-GAAP financial measures, such as net interest income on a fully taxable equivalent basis. S&T believes these financial measures provide information useful to investors in understanding our operational performance and business and performance trends which facilitate comparisons with the performance of others in the financial services industry. Although S&T believes that these non-GAAP financial measures enhance investors’ understanding of S&T’s business and performance, these non-GAAP financial measures should not be considered an alternative to GAAP. The non-GAAP financial measures contained therein should be read in conjunction with the audited financial statements and analysis as presented in the Annual Report on Form 10-K as well as the unaudited financial statements and analyses as presented in the respective Quarterly Reports in Exhibit 99.1 of Form 8-K for S&T Bancorp, Inc. and subsidiaries. 2

Third Quarter 2020 Highlights EPS: $ 0.43 • PTPP 1.61%, $37.5 million • NIM stability Net Income: • Mortgage banking $16.7 million • Moderate ACL build • Dividend of $0.28 declared Returns: ROA ROE ROTE 0.72% 5.80% 8.96% Asset ACL NCO Provision 1.64% Quality: 0.69% $17.5 million ex-PPP 1.77% Refer to appendix for reconciliation of non-GAAP financial measures 3

Third Quarter 2020 Key Metrics 2020 2020 2020 2019 Third Second Second Third Quarter Quarter Quarter Quarter Reported Metrics: Reported Ex-fraud* Net income (loss) $16.7 million ($33.1 million) $13.3 million $26.9 million Diluted earnings (loss) per share $0.43 ($0.85) $0.34 $0.79 Dividends declared per share $0.28 $0.28 $0.27 Book value $29.10 $28.93 $28.69 Tangible book value* $19.40 $19.22 $20.25 Return on average assets 0.72% (1.41)% 0.57 % 1.45% Return on average shareholders' equity 5.80% (11.17)% 4.48 % 10.97% Return on average tangible shareholders' equity* 8.96% (16.19)% 6.86 % 15.69% PTPP* $37.5 million $41.9 million $36.6 million PTPP / average assets* 1.61% 1.79% 1.97 % Efficiency ratio (FTE)* 55.75% 50.51% 50.09% Net interest margin (FTE)* 3.29% 3.31% 3.62% Credit Metrics: Nonperforming loans / loans 1.13 % 1.19 % 0.81 % Net loan charge-offs / average loans 0.69 % 3.58 % 0.49 % 0.28 % ACL / total portfolio loans 1.64 % 1.52 % 1.00 % ACL / total portfolio loans, ex-PPP 1.77 % 1.64 % NA Ex-fraud metrics exclude loss from customer fraud in Q2 2020 *Refer to appendix for reconciliation of non-GAAP financial measures 4

Third Quarter 2020 SBA PPP We dedicated substantial resources to the SBA PPP and approved over $550 million: Total Number of % of. Loan Size Balance Loans Loans. <$50,000 $32 1,441 49.1% <$150,000 66 770 26.3% <$350,000 84 366 12.5% >$350,000 368 355 12.1% Total $550 2,932 PPP loans impacted selected ratios as below: Excluding Including Impact Ratio PPP* PPP Net Interest Margin 3.36 % 3.29 % -0.07 % ACL / total portfolio loans 1.77 % 1.64 % -0.13 % Nonperforming loans / loans 1.23 % 1.13 % -0.10 % TCE / TA 9.22 % 8.64 % -0.58 % Leverage Ratio 9.71 % 9.11 % -0.60 % Data as of September 30, 2020 $ in millions *Refer to appendix for reconciliation of non-GAAP financial measures 5

Third Quarter 2020 Loan Modifications We continue to see declines in customers requiring needs-based payment deferrals and modifications to interest only periods. Modifications have been reduced to 5% of loans. June 30, 2020 August 31, 2020 September 30, 2020 Total Mod Mod Total Mod Mod Total Mod Mod Loan Type Balance Balance % Balance Balance % Balance Balance % 6/30/20 6/30/20 6/30/20 8/31/20 9/30/20 9/30/20 CRE $3,346 $993 30% $3,346 $386 12% $3,290 $322 10 % Resi Secured Business* 425 53 13% 425 6 1% 427 1 0 % Construction 459 47 10% 459 23 5% 477 2 0 % C&I 1,593 203 13% 1,593 36 2% 1,493 25 2 % Total Commercial 5,822 1,297 22% 5,822 451 8% 5,687 350 6 % Total Consumer 1,179 69 6% 1,179 0 0% 1,158 0 0 % Total $7,001 $1,365 20% $7,001 $451 6% $6,845 $350 5 % *Reported as Consumer Loans $ in millions Excludes PPP loans 6

Third Quarter 2020 Commercial Loan Modifications Commercial loan modifications have been reduced to $350 million or 6% of the outstanding balance: Total Modified % of Bal Total Modified % of Bal Loan Type Loan Type Balance Balance Modified Balance Balance Modified Other $495 $28 6 % Manufacturing $298 $6 2 % Multi-Family 455 12 3 % Services 257 2 1 % Offices 397 3 1 % Other 154 12 8 % Health Care 364 18 5 % Construction 133 1 0 % Flex/Mixed Use 299 7 2 % Real Estate Rent/Lease 113 2 2 % Manufacturing 242 5 2 % Transportation 117 1 1 % Hotels 243 230 95 % Public Admin 107 0 0 % Strip Malls 197 11 6 % Health Care 100 0 0 % Retail Space 195 6 3 % Wholesale Trade 91 0 0 % Storage 173 1 1 % Retail Trade 61 0 0 % Dealerships 113 0 0 % Floorplans 62 1 2 % Convenience Stores 58 0 0 % Total C&I 1,493 25 2 % Restaurants 59 1 2 % Total CRE 3,290 322 10 % Total Commercial $5,687 $350 6 % Resi Secured Business* 427 1 0 % Construction 477 2 0 % Total Real Estate $4,194 $325 8 % *Reported as Consumer Loans $ in millions, Total Balances as of September 30, 2020; Modified Balances reflect loans with active deferrals as of September 30, 2020, Excludes PPP loans 7

Third Quarter 2020 Hotels The COVID-19 pandemic is negatively impacting the hospitality industry and our hotel portfolio: Portfolio Total Modified Balance Balance 9/30/20 9/30/20 Balance $243 $230 Number 57 45 • 84% of the portfolio is with a Average Size $4.3 $5.1 Marriott, Hilton, Holiday Inn, or Hyatt chain. Internal Total • Pre-COVID LTV 58% Risk Rating Balance 9/30/20 Pass $8 Special Mention 115 Substandard 120 Total $243 $ in millions 8

Third Quarter 2020 Allowance for Credit Losses After adopting CECL in 2020, we have prudently built our ACL in response to the pandemic, its impact on our customers, and the changing economic outlook: $ in millions Portfolio Changes: Includes balance changes, internal risk rating changes, and net charge-offs Economic/Qualitative Factors: Includes changes to the reasonable and supportable forecast and changes to qualitative factors 9

Third Quarter 2020 Net Interest Income We are asset sensitive but have experienced core NIM stabilization: • Our ex-PPP NIM was stable from Q2 to Q3 • We reduced brokered deposits by $269 million in Q3 due to low-cost customer deposit growth • We significantly reduced deposit rates several times throughout Q2 and Q3 We are proactively managing our interest-bearing deposit costs: We expect favorable repricing on the following funding throughout the next nine months: Funding type Balance Rate CD maturities $838 1.38 % Long-term wholesale funding 46 2.53 % Total $884 1.44 % Data as of September 30, 2020 $ in millions 10

Third Quarter 2020 Capital We are well-capitalized and have sufficient excess capital: Key points: • The Leverage Ratio and TCE / TA are impacted by PPP. The ex-PPP Leverage Ratio is 9.71% and TCE / TA is 9.22%. • We are taking a prudent approach to capital management, given economic uncertainty. • Our internally-run capital stress test results demonstrate that we have adequate capital cushions. • We are utilizing the five-year CECL transition for regulatory capital purposes. Data as of September 30, 2020 $ in millions 11

Third Quarter 2020 Appendix Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures: 2020 2020 2019 Third Second Third Quarter Quarter Quarter (1) Tangible Book Value (non-GAAP) Total shareholders' equity $1,142,115 $1,135,777 $982,447 Less: goodwill and other intangible assets (382,681) (383,032) (289,538) Tax effect of other intangible assets 1,946 2,046 439 Tangible common equity (non-GAAP) $761,380 $754,791 $693,348 Common shares outstanding 39,252 39,263 34,245 Tangible book value (non-GAAP) $19.40 $19.22 $20.25 (2) Return on Average Tangible Shareholders' Equity (non-GAAP) Net (loss) income (annualized) $66,455 ($133,016) $106,865 Plus: amortization of intangibles (annualized) 2,619 2,623 647 Tax effect of amortization of intangibles (annualized) (550) (551) (136) Net (loss) income before amortization of intangibles (annualized) $68,524 ($130,944) $107,376 Average total shareholders' equity $1,145,882 $1,191,020 $973,711 Less: average goodwill and other intangible assets (382,780) (384,197) (289,622) Tax effect of average goodwill and other intangible assets 1,999 2,116 457 Average tangible equity (non-GAAP) $765,101 $808,939 $684,546 Return on average tangible shareholders' equity (non-GAAP) 8.96 % (16.19) % 15.69 % (3) PTPP / Average Assets (non-GAAP) Income (Loss) Before Taxes $20,028 ($44,865) $31,679 Add: Provision for Credit Losses 17,485 86,759 4,913 Total $37,513 $41,894 $36,592 Total (annualized) (non-GAAP) $149,237 $168,497 $145,175 Average assets $9,293,004 $9,429,720 $7,354,873 PTPP / Average Assets (non-GAAP) 1.61 % 1.79 % 1.97 % 12

Third Quarter 2020 Appendix Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures: 2020 2020 2019 Third Second Third Quarter Quarter Quarter (4) Efficiency Ratio (non-GAAP) Noninterest expense $48,246 $43,478 $37,667 Less: merger related expenses — — — Noninterest expense excluding nonrecurring items $48,246 $43,478 $37,667 Net interest income per consolidated statements of net income $69,276 $70,148 $61,196 Less: net (gains) losses on sale of securities — (142) — Plus: taxable equivalent adjustment 780 847 934 Net interest income (FTE) (non-GAAP) $70,056 $70,853 $62,130 Noninterest income 16,483 15,224 13,063 Net interest income (FTE) (non-GAAP) plus noninterest income $86,539 $86,077 $75,193 Efficiency ratio (non-GAAP) 55.75 % 50.51 % 50.09 % (5) Net Interest Margin Rate (FTE) (non-GAAP) Interest income $76,848 $80,479 $79,813 Less: interest expense 7,572 10,331 (18,617) Net interest income per consolidated statements of net income $69,276 $70,148 $61,196 Plus: taxable equivalent adjustment 780 847 934 Net interest income (FTE) (non-GAAP) $70,056 $70,995 $62,130 Net interest income (FTE) (annualized) $278,701 $285,540 $246,494 Average earning assets $8,477,074 $8,611,952 $6,816,359 Net interest margin - (FTE) (non-GAAP) 3.29 % 3.31 % 3.62 % 13

Third Quarter 2020 Appendix Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures: The following profitability metrics are adjusted to exclude a $58.7 million loss related to a customer 2020 fraud in the second quarter ended June 30, 2020 and to exclude merger related expenses from the Second DNB merger in the first quarter ended March 31, 2020. Quarter (6) Return on Average Assets (non-GAAP) Net income excluding fraud and merger related expenses (annualized) $53,404 Average total assets 9,429,720 Return on average assets (non-GAAP) 0.57% (7) Return on Average Equity (non-GAAP) Net income excluding fraud and merger related expenses (annualized) $53,404 Average total shareholders' equity 1,191,020 Return on average shareholders' equity (non-GAAP) 4.48% (8) Return on Average Tangible Shareholders' Equity (non-GAAP) Net income ($33,072) Adjust for fraud and merger related expenses 58,671 Tax effect of fraud and merger related expenses (12,231) Net income excluding fraud and merger related expenses $13,278 Net income excluding fraud and merger related expenses (annualized) $53,404 Plus: amortization of intangibles (annualized) 2,623 Tax effect of amortization of intangibles (annualized) (551) Net income before amortization of intangibles (annualized) $55,476 Average total shareholders' equity $1,191,020 Less: average goodwill and other intangible assets (384,197) Tax effect of average goodwill and other intangible assets 2,116 Average tangible equity (non-GAAP) $808,940 Return on average tangible shareholders' equity (non-GAAP) 6.86% 14

Third Quarter 2020 Appendix Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures: The following profitability metrics are adjusted to exclude a $58.7 million loss related to a customer 2020 fraud in the second quarter ended June 30, 2020 and to exclude merger related expenses from the Second DNB merger in the first quarter ended March 31, 2020. Quarter (9) Diluted (Loss) Earnings Per Share (non-GAAP) Diluted earnings per share ($0.85) Adjust for fraud and merger related expenses ($1.19) Diluted (loss) earnings per share excluding fraud and merger related expenses $0.34 15

Third Quarter 2020 Earnings Supplement MEMBER FDIC

EX-99.3

CONTACT: Mark Kochvar Chief Financial Officer 724.465.4826 800 Philadelphia Street Indiana, PA 15701 mark.kochvar@stbank.com www.stbancorp.com

FOR IMMEDIATE RELEASE

S&T Bancorp, Inc. Declares Dividend

Indiana, Pa. - October 20, 2020 - The Board of Directors of S&T Bancorp, Inc. (S&T) (NASDAQ: STBA), the holding company for S&T Bank, with operations in five markets including Western Pennsylvania, Eastern Pennsylvania, Northeast Ohio, Central Ohio, and Upstate New York, declared a $0.28 per share cash dividend at its regular meeting held October 19, 2020. This is comparable to a common stock dividend of $0.28 per share declared in the same period in the prior year. The annualized yield using the October 19, 2020 closing price of $19.90 is 5.6 percent. The dividend is payable November 19, 2020 to shareholders of record on November 5, 2020.

About S&T Bancorp, Inc. and S&T Bank

S&T Bancorp, Inc. is a $9.5 billion bank holding company that is headquartered in Indiana, Pennsylvania and trades on the NASDAQ Global Select Market under the symbol STBA. Its principal subsidiary, S&T Bank, was recently ranked #1 in customer satisfaction with retail banking in the Mid-Atlantic including best in communication and advice by J.D. Power. Established in 1902, S&T Bank operates in five markets including Western Pennsylvania, Eastern Pennsylvania, Northeast Ohio, Central Ohio, and Upstate New York. For more information visit stbancorp.com or stbank.com. Follow us on Facebook, Instagram, and LinkedIn.

XML

Cover Page	Oct. 19, 2020
Cover [Abstract]
Document Type	8-K
Document Period End Date	Oct. 19, 2020
Entity Registrant Name	S&T BANCORP, INC
Entity Incorporation, State or Country Code	PA
Entity File Number	0-12508
Entity Tax Identification Number	25-1434426
Entity Address, Address Line One	800 Philadelphia Street
Entity Address, City or Town	Indiana
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	15701
City Area Code	800
Local Phone Number	325-2265
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, $2.50 par value
Trading Symbol	STBA
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Entity Central Index Key	0000719220
Amendment Flag	false