INDIANA, Pa. (AP) _ S&T Bancorp Inc. (STBA) on Thursday reported a second-quarter loss of $33.1 million, after reporting a profit in the same period a year earlier.
The bank, based in Indiana, Pennsylvania, said it had a loss of 85 cents per share. Earnings, adjusted for non-recurring costs, were 34 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The holding company for S&T Bank posted revenue of $95.7 million in the period. Its revenue net of interest expense was $85.4 million, which also topped Street forecasts.
S&T Bancorp shares have dropped 41% since the beginning of the year. The stock has dropped 37% in the last 12 months.