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S&T Bancorp Inc. (NASDAQ: STBA) is a $9.5 billion bank holding company headquartered in Indiana, Pennsylvania. The principal subsidiary, S&T Bank, was founded in 1902, offering a comprehensive range of financial services including retail and commercial banking products, cash management, trust, and brokerage services. With a mission rooted in building enduring relationships through mutual confidence, trust, and performance, S&T Bancorp has grown to serve numerous counties in Pennsylvania and operates loan production offices in Northeast and Central Ohio.
Operations and Markets:
- S&T Bancorp operates in key markets like Western and Eastern Pennsylvania, Northeast and Central Ohio, and Upstate New York through its Community Banking unit.
- It generates revenue from interest on loans and securities and fees for various financial services.
Recent Achievements and Financial Performance:
- For the second quarter of 2023, S&T Bancorp reported net income of $34.5 million, a testament to strong net interest income and controlled expenses.
- The company's net interest margin remains robust at 4.22%, despite a slight decrease from the previous quarter due to higher funding costs.
- In asset quality, nonperforming assets decreased significantly to $18.0 million at June 30, 2023, showcasing robust loan quality management.
- S&T Bancorp maintains a strong regulatory capital position, with all capital ratios above federal thresholds.
Leadership and Strategic Initiatives:
- Michael Golden joined as Executive Vice President and Chief Operating Officer in July 2023, bringing a wealth of experience in digital and business technology from PNC Bank.
- Under the leadership of CEO Chris McComish, S&T Bancorp continues to focus on customer-forward initiatives and employee engagement, leading to recognition on Forbes’ Best-In-State Banks list for the second consecutive year.
Community and Customer Commitment:
- S&T Bancorp prides itself as a trusted resource for families and businesses, aiming to be a community asset and a source of civic pride.
- Emphasizing strong customer service, the bank aims to forge long-lasting partnerships with its clients.
For more information, visit stbancorp.com or stbank.com. Follow S&T Bancorp on Facebook, Instagram, and LinkedIn.
Rhea-AI Summary
S&T Bancorp, Inc. announced fourth quarter and full year 2023 earnings with a net income of $37.0 million for Q4 2023. Earnings per diluted share increased 8.09% to a record $3.74 compared to 2022. Total portfolio loans and deposits increased, and nonperforming assets remained low. The company declared a $0.33 per share cash dividend, an increase of 3.13% compared to the prior year.
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S&T Bancorp, Inc. (STBA) announced an increase in their cash dividend to $0.33 per share, a 3.13% increase compared to the prior year. The annualized yield is 3.89%, payable to shareholders of record on February 8, 2024.
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S&T Bancorp, Inc. (STBA) announced the addition of Bhaskar Ramachandran, a cybersecurity and information technology expert with 30 years of experience, to its board of directors. Ramachandran's extensive expertise in digital business strategies, emerging technologies, and cyber risk management will be a valuable asset as the company continues to digitally transform. He has previously served as the global vice president and chief information officer of PPG and has held leadership roles at Jabil Inc. and Textron Inc. Ramachandran's addition to the board is expected to strengthen the company's customer and community relationships.
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S&T Bancorp, Inc. (STBA) announced a conference call for the company's fourth quarter and full year 2023 earnings to be held on January 25, 2024. The call will be conducted by CEO Christopher J. McComish, President David G. Antolik, and CFO Mark Kochvar. The public is invited to listen, and the earnings release will be available on the company's website.
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S&T Bancorp, Inc. approves a $0.33 per share cash dividend, representing a 6.5% increase from the prior year. The annualized yield is 5.3%. Dividend payable on November 24, 2023.
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S&T Bancorp announces net income of $33.5 million for Q3 2023, with solid return metrics and stable deposit balances.
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S&T Bancorp, Inc. will hold a conference call to discuss its third quarter 2023 earnings on October 19, 2023 at 1:00 p.m. ET. CEO, president, and CFO will conduct the call. Earnings release will be available on the company's website.
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FAQ
What is the current stock price of S&T Bancorp (STBA)?
The current stock price of S&T Bancorp (STBA) is $42.34 as of November 15, 2024.
What is the market cap of S&T Bancorp (STBA)?
The market cap of S&T Bancorp (STBA) is approximately 1.6B.
What is the primary business of S&T Bancorp Inc?
S&T Bancorp Inc is a bank holding company offering retail and commercial banking products, cash management, trust and brokerage services.
Where is S&T Bancorp Inc headquartered?
S&T Bancorp Inc is headquartered in Indiana, Pennsylvania.
What markets does S&T Bancorp Inc operate in?
The company operates in Western Pennsylvania, Eastern Pennsylvania, Northeast Ohio, Central Ohio, and Upstate New York.
What recent financial performance has S&T Bancorp Inc reported?
For the second quarter of 2023, S&T Bancorp Inc reported net income of $34.5 million and a net interest margin of 4.22%.
Who is the CEO of S&T Bancorp Inc?
The CEO of S&T Bancorp Inc is Chris McComish.
What recent achievements has S&T Bancorp Inc made?
S&T Bancorp Inc was recognized on Forbes’ Best-In-State Banks list for the second consecutive year.
How does S&T Bancorp Inc serve its community?
S&T Bancorp Inc aims to be a trusted resource, community asset, family advisor, financial anchor, and a source of civic pride.
What are some strategic initiatives of S&T Bancorp Inc?
The company focuses on customer-forward initiatives, digital transformation, and operational efficiency.
What is the trading symbol for S&T Bancorp Inc?
The trading symbol for S&T Bancorp Inc is STBA on the NASDAQ Global Select Market.
How can I learn more about S&T Bancorp Inc?
For more information, visit stbancorp.com or stbank.com and follow their social media profiles on Facebook, Instagram, and LinkedIn.
S&T Bancorp Inc
Nasdaq:STBA
STBA Rankings
STBA Stock Data
1.60B
38.26M
1.4%
69.75%
2.54%
Banks - Regional
State Commercial Banks
United States of America
INDIANA