S&T Bancorp Inc. in Indiana, Pa., said Monday that its third-quarter earnings rose 41% year over year, to $10.9 million, on an increase in noninterest income.
The $4.1 billion-asset company posted noninterest income of $12.3 million for the quarter, up 20% from a year earlier.
S&T said the bulk of the increase was driven by the company's mortgage banking business, which earned $1.6 million in the quarter, up from $200,000 in the second quarter.
The company's credit issues remained stable, though slightly high for its region.
As of Sept. 30, nonperforming assets totaled $82.7 million, or 2.45% of total assets. That compares with 2.41% at the end of the second quarter and 2.64% a year earlier.
S&T's provision for loan losses was $8.3 million, flat compared with a year earlier.