S&T Bancorp Inc. in Indiana, Pa., said Monday that second-quarter earnings were flat, at $13.9 million, despite a 16% increase in net interest income.
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Earnings per share at the $4.4 billion-asset company fell about 4% from a year earlier, to 54 cents.
Charges related to the acquisition of the $793 million-asset IBT Bancorp Inc. dented earnings.
S&T's nonperforming assets dropped 25% from the previous quarter, to $17.8 million. Net chargeoffs were $2.2 million, compared with a recovery of $94,000 in the first quarter. The company reversed a $118,000 provision for loan losses during the quarter, after taking a $1.3 million provision in the first quarter.
