S&T Bancorp, Inc.

forward-looking statements and risk factors. 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 first quarter 2025 earnings release as well as this earnings supplement slide deck can be obtained by clicking on the materials button in the lower right section of your screen. This will open up a panel on the right where you can download these items. You can also obtain a copy of these materials by visiting our investor relations website at stbankcorp.com. With me today are Chris McCommish, S&T's CEO, and Dave Antolik, S&T's President. I'd now like to turn the program over to Chris.

Great, Mark. Thank you, and I'm going to begin my comments on page three. Mark, appreciate kicking us off, and I want to welcome everybody to the call. I certainly appreciate our analysts being with us, and we look forward to your questions. I also want to Thank our employees and shareholders and others listening on the call. To our leadership team and employees, thank you for all you do. As we discussed before, these results are yours and you should be very proud. Before we discuss the numbers, I do want to touch on a couple of highlights that make Q1 so energizing and important for us. A few weeks ago, We wrapped up our third annual road trip with our executive team, met in small groups with all 1,275 of our employees in sessions focused on our shared future. From central Ohio to eastern Pennsylvania, the energy commitment and engagement of our employees showed and proved that S&T's People Forward purpose really set the tone for all that we're doing in 2025. And we believe this engagement is a direct connection to the results that we're going to discuss with you today. It further reinforces our commitment to our performance drivers of focusing on our talent and engagement, building and enhancing our deposit franchise, maintaining top quartile for profitability, and a focus on top tier asset quality. Additionally, in the quarter, we received external recognition from organizations like Forbes, S&P, and USA Today for strong financial performance and superior employee engagement. Obviously, that makes us very proud. All of this combined with the strong results we will discuss for Q1 gives our leadership team great confidence in our ability to move S&P forward in spite of some of the market uncertainty we are currently seeing. As I turn to the quarter on page three, it was strong across the board. EPS of 87 cents and net income of $33 million were both ahead of Q4-24 and Q1-2024 and meaningfully above consensus estimates. Our return metrics were also strong, while balance sheet growth was solid both on the loan and customer deposit fronts. Customer deposit growth was over 7% annualized, the seventh straight quarter of customer deposit growth. We also saw a NIM expansion of four basis points as funding costs decreased and the positioning of our balance sheet to a more neutral stance delivered results. We had another strong asset quality quarter, which allowed us to put additional dollars towards our bond portfolio restructure program. Mark will provide more color on this later. Turning to our balance sheet, customer deposit growth, as I said, was very strong. Wholesale borrowings and deposits were reduced and loan growth led by commercial banking was solid. I'm going to turn it over to Dave Antolik, our president, and I don't want to steal his thunder, but he's going to discuss further our balance sheet activities, customer activities, and the external environment, as well as asset quality.

Thank you, Chris, and good morning, everyone, or good afternoon, everyone. If I could direct your attention to page four, you'll see the positive growth trends that Chris just talked about. Customer deposit growth of $135 million. or 7.23% annualized, which, as Chris mentioned, was the seventh consecutive quarter of customer deposit growth. You also see the total loan growth of $93 million, or 4.89% annualized, which is consistent with our previous guidance. Focusing for a moment on deposits, the majority of our growth came from our consumer activities, which is driven by our bankers using a proprietary customer relationship sales process that we introduced in early 2024 that has matured to the point where it's having meaningful impact on our results. We also continue to leverage our deposit exception pricing platform, which aligns frontline staff and our treasury function in a customer and deposit cost friendly way. From a product perspective, the overwhelming majority of our deposit growth was in money market and included a mix of consumer, private banking, and municipal customer activities We also saw a shift from CD and checking balances into the money market this quarter. Digging into loan activity, we saw consumer loan growth of $12 million, which was driven by residential mortgage and home equity. As anticipated, our residential pipeline has tapered over the past few quarters and is now stabilized. Meanwhile, our home equity pipeline has grown since year end, and as mentioned last quarter, we expect balanced growth between these two categories for the remainder of the year. Turning to our commercial activities, total loan growth of over $81 million was driven by increases in our commercial real estate and commercial construction segments of $74 million and $27 million, respectively. Underlying categories of growth include flex mixed use, multifamily, and retail space. C&I balances declined by $20 million during the quarter, reflecting reduced automobile floor plan borrowings and reductions in our owner-occupied real estate category. Overall, pipelines are up nearly 40% since year end, primarily in our commercial and consumer segments. We are closely monitoring macroeconomic impacts on our pull-through rates and continue to feel confident in our short-term, mid-single-digit loan growth guidance, increasing the high mid-single-digit growth in the back half of 2025. It's important to note that much of the second half growth is expected to be driven by newly hired bankers as they build their pipelines in the first half of the year. Turning to asset quality on page five, we continued to see improvement in Q1. Our allowance for credit losses declined by approximately $2.5 million and ended the quarter at 1.26% of total loans. This was primarily the result of the release of a specific reserve related to one workout credit In addition, criticized and classified loans remain stable for the quarter. We see loan growth and economic uncertainty as the primary factors impacting our provision expense in coming quarters. Finally, I'd like to take a moment to discuss our portfolio management and monitoring activities as they relate to macroeconomic and more particularly international trade factors. First, from an information gathering and data analysis perspective, Our CNI portfolio includes a group of loans that require, at a minimum, monthly reporting of all accounts receivable and accounts payable. This group represents approximately $750 million of exposure and loan balances of $490 million, or 28% of our total CNI commitments and 32% of CNI balances. From this information, we've been able to extract international exposure to better understand our credit risk and inform customer conversations about their plans moving forward. Second, and in a more general sense, we've added additional underwriting focus on foreign trade exposure and potential impacts to our commercial loan portfolio, including impacts on construction costs, construction contingencies, inventory levels, and raw material sourcing, just to name a few. At its core, our approach to managing credit risk relies upon a combination of data collection and a deep understanding by our bankers and credit teams of each individual customer's circumstance. I'll now turn it over to Mark for the commentary.