S&T Bancorp reports Q2 EPS 83c, consensus 81c

Reports Q2 NII $100.66M, consensus $99.18M. Reports tangible book value of $27.90 from $27.24 at previous quarter end. Reports Q2 net interest margin on a fully taxable equivalent basis expansion of 7 basis points to 3.88% vs. 3.81% in Q1. “We are pleased to report another strong quarter with excellent returns, driven by continued progress on our performance drivers,” said Chris McComish, chief executive officer. “Net interest income growth was driven by net interest margin expansion and solid loan growth while asset quality metrics remain at very favorable levels. As we move into the second half of the year, we remain confident in our strategy, the strength and commitment of our team and our ability to capitalize on future growth opportunities.”