S&T Bancorp, Inc.

Good afternoon, ladies and gentlemen, and welcome to the S&T Bancorp, Inc. Fourth Quarter Earnings Conference Call. At this time, all participants have been placed on a listen-only mode, and the floor will be opened for questions and comments after the presentation. It is now my pleasure to turn the floor over to your host, Mark Kochvar. Sir, the floor is yours.

Thank you very much, and good afternoon, everyone. Thank you for participating in today's conference call. Before beginning the presentation, I want to take time to refer you to our statement about forward-looking statements and risk factors, which should be on the screen in front of you. This statement provides cautionary language required by the Securities and Exchange Commission for forward-looking statements that may be included in this presentation. A copy of the fourth quarter 2020 earnings release can be obtained by clicking on the press release link on your screen or by visiting our investor relations website at www.stbankcorp.com. We will be reviewing an earnings supplement slide deck as part of this presentation. You can obtain and copy those slides on our website under events and presentations, fourth quarter 2020 earnings conference call. There you can click on the fourth quarter 2020 earnings supplement. With me today are Todd Brice, CEO of S&T, and Dave Entel, S&T's president. I'd now like to turn the program over to Todd, who will begin today's presentation.

Well, thank you, Mark, and good afternoon, everybody. We appreciate you taking time to join us for our fourth quarter earnings report. As announced in our press release this morning, we've reported net income of 62 cents per share, or $24.2 million, compared to 43 cents per share, or $16.7 million in the third quarter. Profitability metrics for the quarter include a return on asset of 1.05%, a return on equity of 8.35%, and a return on tangible of 12.71%. Also, pre-tax, pre-provision totaled $37 million, or 1.61% of average assets. Results this quarter were favorably impacted by a nine basis point improvement in our net interest margin and strong mortgage banking fees, which totaled $3.1 million. Balance sheet growth was muted as loans declined by $84 million, not including PPP forgiveness of $85 million in the fourth quarter. Our customers are still feeling the impacts of the effects of COVID. Total deposit decreased by $213 million, primarily in our now money market and certificate of deposit categories, as we focused on reducing deposit costs due to our liquidity position. Asset quality metrics for the quarter include a provision expense of $7.1 million, which is a $10.4 million decrease from Q3. Net charge-offs of $11.2 million versus $12.9 million in the third quarter. Non-performing loans increased by $52.7 million to $146.8 million, or 2.03% of total loans. The majority of the increase is attributed to $56.7 million of hotel loans that were moved into non-accrual. We did perform new appraisals on the majority of these loans in the fourth quarter and believe that we are adequately reserved at this time. The ACL was stable for the quarter at 1.63% of total loans compared to 1.64% in Q3. Including PPP loans, the ratios were 1.74% versus 1.77% in the third quarter of last year. And finally, the Board of Directors declared a quarterly dividend of 28 cents per share payable on February 25th. The share holds a record on February 11th. So at this point, I'd like to turn the program over to our President, Dave Antoli. Hey, thank you, Todd.