S&T Bancorp reports Q3 EPS 87c, consensus 90c

Net interest margin (FTE) remained strong at 4.09% compared to 4.22% in the second quarter of 2023. “Our third quarter performance was strong with solid return metrics,” said Chris McComish, CEO. “While recognizing there are challenges across the industry, we are very proud of the core earnings growth we have had in this rising interest rate environment. Our net interest margin remains strong at 4.09%. Deposit balances stabilized during the quarter and the shift in the mix of our deposits slowed considerably compared to earlier in the year. We believe our team’s efforts around our customer-focused initiatives are paying off in this competitive environment.”