S&T Bancorp, Inc. (NASDAQ: STBA), the Indiana, Pennsylvania-based holding company for S&T Bank, reported third-quarter 2026 net income of $38.6 million, up from $36.6 million in the second quarter of 2026 and $35.0 million in the third quarter of 2025. Diluted earnings per share was $1.09, which the company said represented a 6.9% increase from the prior quarter and a 19.8% increase from a year earlier, and which its own release headlined as a record.
Profitability measures improved across the board: return on average assets was 1.55%, return on average equity was 10.84%, and return on average tangible shareholders' equity, a non-GAAP measure, was 14.81%. Net interest margin on a fully taxable equivalent basis expanded seven basis points from the prior quarter to 4.06%.
Asset quality metrics moved favorably. Nonperforming assets decreased $3.7 million to $36.5 million, representing 0.45% of total loans plus other real estate owned. Net charge-offs totaled $2.1 million, or 0.10% of average loans. The allowance for credit losses was unchanged at $93.3 million, or 1.16% of total portfolio loans.
On the balance sheet, total assets were flat at $9.9 billion. Total deposits decreased $22.2 million and total borrowings decreased $60.0 million to $215.3 million. Total portfolio loans decreased $4.4 million, which the company attributed to lower line utilization.
S&T Bancorp said it has repurchased 3,169,294 shares, or 8.3% of shares outstanding, since the fourth quarter of 2025, at an average price of $42.09 per share. Approximately 35.3 million shares were outstanding at quarter-end. The company also declared a dividend of $0.37 per share.
CEO Chris McComish said the results reflected "record earnings per share, record revenue and higher core profitability."