S&T Bancorp Inc. Reports Un-Audited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2012
January 29, 2013 at 07:30 am EST
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S&T Bancorp Inc. reported un-audited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported net income available to common shareholders of $9.5 million compared to $12.6 million in the third quarter of 2012 and $9.3 million in same period last year. Diluted earnings per common share were $0.32 compared to $0.43 in the third quarter of 2012 and $0.33 in the same period last year. The company reported interest income of $38.9 million compared to $40.3 million, net interest income of $33.8 million compared to $34.1 million, income before taxes of $1.1 million compared to $1.1 million, common return on average assets of 0.86% compared to 0.91% and common return on average equity of 7.05% compared to 6.41% in last year.
For the year, the company's net income available to common shareholders decreased by $5.5 million to $34.2 million and diluted earnings per common share decreased $0.23 to $1.18 compared to $39.7 million and diluted earnings per common share of $1.41 reported in full year 2011. Net interest income (FTE) declined by $1.8 million compared to 2011 despite adding earning asset balances from the mergers. The company reported interest income of $156.3 million compared to $165.1 million, net interest income of $135.2 million compared to $137.3 million, income before taxes of $45.9 million compared to $66.0 million, common return on average assets of 0.79% compared to 0.97% and common return on average equity of 6.62% compared to 6.78% in last year. Common book value as on December 31, 2012 was $18.08 per share compared to $17.44 per share as on December 31, 2011.
S&T Bancorp, Inc. is a bank holding company. The Companyâs segments include Commercial Real Estate (CRE), Commercial and Industrial (C&I), Commercial Construction, Business Banking, Consumer Real Estate and Other Consumer. The CRE segment includes loans secured by commercial purpose real estate, including both owner-occupied properties and investment properties for various purposes such as hotels, retail, multifamily and healthcare. The C&I segment includes loans made to operating companies or manufacturers for the purpose of production, operating capacity, accounts receivable, inventory, or equipment financing. The Commercial Construction segment includes loans made to finance the construction of buildings or other structures, as well as to finance the acquisition and development of raw land for various purposes. The Business Banking segment includes commercial loans made to small businesses. Consumer Real Estate segment includes loans secured by first and second liens.