S&T Bancorp, Inc.

Good day, ladies and gentlemen, and welcome to the S&T Bancorp Third Quarter Earnings Conference Call. At this time, all participants have been placed on the listen-only mode, and the floor will be open 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. Good afternoon, everyone, and 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 is on the screen in front of you. This statement provides the cautionary language required by the Securities and Exchange Commission for forward-looking statements that may be included in this presentation. A copy of the third quarter 2021 earnings release can be obtained by clicking on the press release link on your screen or by visiting our investor relations website at www.stbankcorps.com. We will be reviewing an earnings supplement slide deck as part of this presentation. You can obtain a copy of those slides by clicking on the link on your screen or on our website under Events and Presentations, 3rd Quarter 2021 Earnings Conference Call. Click on the 3rd Quarter 2021 Earnings Supplement link. With me today are Chris McCommack, S&T's CEO, and Dave Antelik, S&T's President. I would now like to turn the program over to Chris.

Thanks, Mark, and good afternoon, everybody. I'm very pleased to be with you this afternoon, and on behalf of Mark and Dave, welcome to our call. Personally, I'm particularly pleased as I wrap up my first two months. Needless to say, it's been a very busy eight weeks as the new CEO at S&T Bank, and today is another milestone, and as you know, when you're new, you have a lot of firsts. This quarterly earnings call is the last of my significant firsts, and we're now 100% focused on moving forward. I'm going to touch on a couple of things, two main things in my remarks. One, where we've been focused since I arrived, and briefly touch on our financial performance. I don't want to steal Dave or Mark's thunder, as they will provide more detail, and they, along with our entire leadership team and employee base, deserve real credit for some solid results. First, on the what I've been doing front. You'll see on the slide, page three on the left-hand side, I've viewed these first days as simply an integration into this company. I'm becoming part of S&T. S&T is learning about me, and we're moving forward together. The term integration is something that we've used collectively as a leadership team and an employee base in order to, one, understand a lot about who we are, how we differentiate ourselves, how we're winning in the market, and where the opportunities may be for growth and improved performance. That will build to our future state, and we'll have more details around that as we head into 2022. Within this activity and this integration, it's been a very busy one. We've had significant number of employee meetings, both one-on-one and in group sessions. And we've told it off that I've had the opportunity over the past eight weeks to be in front of almost one-third of our entire employee base. We've also had significant senior leadership engagement, including a few-day off-site strategic planning session at the end of September that did a lot to build the team, as well as organize our focus around how we move forward together. Obviously significant engagement with our board, shareholders, and the investor community to not only introduce myself, discuss our future, as well as most importantly significant customer engagement out in the marketplace. By the end of the week, I will have been in all of our markets and have come away from this time extremely, extremely optimistic about our future. We have many strengths. Most importantly, we have a very talented employee base driving customer engagement and customer experience. And that speaks a lot to the bottom left-hand side of this page. And there's really three big areas of focus. How I think about this business and where our leadership team is focused is very much around doing everything we can to drive employee engagement first, engaged, excited employees, employees that have the tools and the skills to perform and to deliver for customers are going to lead to high levels of customer engagement as well as market following. We have a great name and reputation in the marketplace, and focusing in this way is only going to enhance it. That work is very much underpinned by an everyday focus on not only safety and soundness, delivering our results as we expect them, but operational excellence. Whether we're face-to-face with our customers, with a digital interaction, or in the back office from an operations standpoint, this focuses on operational excellence, safety and soundness, and delivering for those engaged customers in markets that we have the honor to serve. Our focus is on profitable growth and the consistency thereof. That's the output of the work that we're doing around these two big inputs around engagement, soundness, and operational excellence. Again, more to come, a lot more details to follow. This is the perfect time of year for us to be planning for 2022 and beyond, and we look forward to discussing those things with you in the future. On the right-hand side of the page, a couple of highlights that I want you to hear, and again, Dave and Mark will go into more details. First, we had earnings of 70 cents a share. We feel very good about those solid earnings, primarily because of how they were driven, and that was through some very strong loan growth north of $100 million late quarter. That loan growth was broad-based, both in our commercial C&I business as well as in our consumer portfolios. The good news here is our pipelines remain strong. And again, Nate will give you more details. And during all this change, one of the things that we also wanted to pay attention to, and it's a testament to this leadership team, is we've also stayed focused on expenses. The efficiency of this company is part of what we're known for. And in spite of change and transition and new leadership, we kept our eye on that ball. Last, as we talk about the earnings release, we're seeing positive trends in our hotel portfolio. This is a topic that's been a discussion for the past few quarters and past few months, and things seem to be moving in the right direction, certainly stabilizing compared with where they were. And as it relates to confidence in our future, I am very pleased to re-emphasize the decision that was made in our board meeting earlier this week, and that was an increase of our dividend by a penny, or 3.6%, to 29 cents a share. I look forward to your questions as we move forward in the call, but for now, I'm going to turn it over to Dave, and he can provide more details. Great. Thank you, Chris.