S&T Bancorp reported second quarter 2026 net income of $36.6 million, or diluted EPS of $1.02, up 22.9% from $0.83 in the same quarter last year. Total revenue, comprising net interest and noninterest income, was $105.3 million for the quarter, beating consensus estimates.
Key Highlights
- Net interest margin (NIM) on a fully taxable equivalent basis expanded 7 basis points sequentially to 3.99%, driven by a better funding mix and higher loan yields.
- Total portfolio loans grew by $99.0 million, or 5.0% on an annualized basis, led by a $104.2 million increase in the commercial portfolio.
- Asset quality improved as nonperforming assets (NPAs) decreased by $9.7 million to $40.2 million, or 0.50% of total loans plus OREO, down from 0.63% in the prior quarter.
- The company announced a new $100 million share repurchase program after buying back $47.6 million worth of shares in the quarter.