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S&T Bancorp reports earnings

on April 23, 2013 10:50 AM

S&T Bancorp has announced its first quarter earnings. Net income for the first quarter of 2013 was $12.3 million, or 41 cents per diluted share, compared to net income in the fourth quarter of 2012 of $9.5 million, or 32 cents per diluted share, and the first quarter of 2012 net income of $3.5 million, or 12 cents per diluted share.

Highlights from the first quarter:

  • S&T declared a per-share dividend of 15 cents for the first quarter.
  • Loan demand improved with average loans increasing $72.1 million, or 2 percent, from the previous quarter.

 

  • Nonperforming assets decreased $9 million, or 16 percent, from the previous quarter and $21 million, or 31 percent, from the first quarter of 2012.
  • A $3.1 million gain was recognized related to the sale of the merchant card servicing business.
  • Results for the first quarter included approximately $800,000 of one-time merger integ
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