S&T Bancorp, Inc.

Welcome to the S&T Bancorp third quarter 2025 conference call. After the management's remarks, there will be a question and answer session. Now, I would like to turn the call over to Chief Financial Officer, Mark Kochvar. Please go ahead.

Great. Thank you, and good afternoon, everyone. Thank you for participating in today's earnings call. Before beginning the presentation, I want to take time to refer you to our statement about forward-looking statements and risk factors. This statement provides a 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 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 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. And now I'd like to turn the call over to Chris.

Mark, thank you. And good afternoon, everybody. I'm going to begin my comments on page three and welcome all of you to our call, especially our analysts. We appreciate you being here with us and look forward to your questions. I also want to thank our employees, shareholders, and others listening to the call. To our leadership team and employees, I want to thank you for all you do. These results are yours, and you should be very proud. Before my remarks on our performance, I want to take a moment to congratulate and thank Christine Turetti, our former board chair, for her years of service at S&T. As you may be aware, Christine is our new U.S. Ambassador to Sweden, a well-deserved appointment in recognition of her years of service to our country. I also want to welcome and congratulate Jeff Grube, another longstanding S&T board member, as he takes on the role of lead independent director of our board. We all look forward to working even more closely with Jeff as we move the company forward. Overall, We feel very good about the quarter as it reflects a lot of the work and strategic focus of our team over the past few years, positioning S&T for long-term success. You will see that focus in the numbers we discussed today, including first, by strategically repositioning our balance sheet over the past couple of years to reduce asset sensitivity. We've enhanced our ability to drive consistent net interest income growth through the interest rate cycle. Second, While total deposits ended basically flat at quarter end, our continued investment in our deposit franchise delivered a solid deposit mix, with non-interest-bearing deposits representing 28% of total deposits. Additionally, average DDA growth in the quarter was over $50 million versus Q2, helping to drive our net interest margin expansion, which was already at a very healthy level. Last, while we did see an increase in NPAs in the quarter, this was over a very low base, and the final numbers remain in a very manageable range. Together, these strategic initiatives have created a solid platform for current strong performance and confidence in our future. Additionally, from a capital standpoint, our earnings drove further tangible book value growth of more than 3% again this quarter, above our already robust capital levels. This capital level gives us a lot of flexibility around acquisitions as well as share buyback opportunities. I will remind everyone again, we have a very clear path to $10 billion and above through organic growth in the coming quarters. In summary, I'm very excited about how we are executing delivering for our customers and building our company for the future. Looking at the quarter Q3 was another quarter of strong earnings and returns. EPS of $0.91 and net income of $35 million, while ROA came in at 1.42%, up 10 basis points from Q2. And PPNR at a very solid 189 was up 16 basis points. PPNR was aided by both NIM expansion increasing to a robust 3.93%, up five basis points linked quarter, while net interest income rose more than 3%. Asset growth was a little lighter than Q2 due to some higher payoffs, while NPAs did increase over a very low base. Charges remained low, and the ACL decreased by one basis point link quarter. Dave Antolk is here with us, and he will add more color in a few minutes on asset growth and asset quality. Again, while customer deposit growth was somewhat muted, DDA balances remained an impressive 28%, while total deposits while contributing meaningfully to our net interest income and net interest margin improvements. Expenses were well managed. Combined with our revenue growth, the efficiency ratio dropped to 54.4%, another strong number. I'm going to stop there. I don't want to take any more of Dave or Mark's thunder, and I'll turn it over to them for more details, and I look forward to your questions.