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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.
S&T Bancorp (STBA) announced its fourth quarter and full year 2021 earnings, reporting a net income of $22.5 million, or $0.57 per diluted share, down from $27.6 million in Q3 2021. For the year, net income reached a record $110.3 million, or $2.81 per diluted share, compared to $21.0 million in 2020. The fourth quarter saw a 7.2% annualized increase in total portfolio loans, with strong growth in commercial and consumer loans. The board declared a $0.29 per share dividend, up from $0.28 last year.
The Board of Directors of S&T Bancorp has announced a cash dividend of $0.29 per share, marking a 3.6% increase from last year's $0.28. The annualized yield based on the January 24, 2022 closing price of $32.74 is 3.5%. This dividend will be paid on February 24, 2022 to shareholders on record by February 10, 2022. S&T Bancorp, headquartered in Indiana, Pennsylvania, operates across several markets and is valued at $9.4 billion.
On January 24, 2022, S&T Bank announced key promotions of three executives to enhance its growth. Steve Drahnak was elevated to Chief Commercial Banking Officer, overseeing all commercial banking efforts. Heidi Williams became Senior Vice President and Community Market Executive, managing commercial real estate collaboration. Jonathan Kowalski was promoted to Senior Vice President and Metro Market Executive, leading commercial and industrial banking teams. These promotions reflect the bank's commitment to excellence and aim to strengthen customer service and employee development.
S&T Bancorp, Inc. (NASDAQ: STBA) will host a conference call to discuss its fourth quarter and full year 2021 earnings on January 27, 2022, at 1:00 p.m. ET. The earnings release will be available before the market opens on the same day. Key executives, including CEO Christopher J. McComish, will lead the call. Investors can access the call via S&T Bank's Investor Relations page. A replay will be available until February 3, 2022. S&T Bancorp is a $9.4 billion holding company headquartered in Pennsylvania, operating primarily in five markets across the Northeastern U.S.
S&T Bank will increase its base pay rate to $15 per hour starting January 2022. This decision aims to enhance workforce development and create job opportunities within the communities it serves. Approximately 43% of its workforce, or 501 employees, will benefit from this adjustment. The bank emphasizes its commitment to providing not just jobs, but careers through extensive compensation packages, including benefits and educational opportunities. S&T Bancorp, trading under the symbol STBA, is a $9.4 billion holding company based in Indiana, Pennsylvania.
S&T Bancorp, Inc. (NASDAQ: STBA) reported a net income of $27.6 million, or $0.70 per diluted share for Q3 2021, a slight decrease from $28.4 million in Q2 2021. Key highlights include a 7.0% annualized loan growth and a quarterly cash dividend increase to $0.29 per share. The bank saw an increase in noninterest income to $15.8 million, while noninterest expenses rose to $47.2 million. Overall asset quality showed challenges with an increase in nonperforming assets to 1.78%. The conference call for Q3 results is scheduled for October 21, 2021.
S&T Bancorp, Inc. (NASDAQ: STBA) has declared a cash dividend of $0.29 per share, a 3.6% increase from last year's $0.28. The dividend will be payable on November 18, 2021, to shareholders on record by November 4, 2021. Based on the October 18 closing price of $30.34, this results in an annualized yield of 3.8%. This decision reflects the company's ongoing commitment to returning value to shareholders while demonstrating financial stability in its five operational markets.
S&T Bancorp, Inc. (NASDAQ: STBA) will release its third quarter 2021 earnings on October 21, 2021, before the market opens. A conference call to discuss these results is scheduled for 1:00 p.m. ET on the same day, featuring CEO Christopher J. McComish, President David G. Antolik, and CFO Mark Kochvar. The call will be accessible via S&T Bank's Investor Relations webpage. Interested parties can submit questions via email before the call and will have the chance to ask during the presentation. A replay will be available until October 28, 2021.
S&T Bancorp reported a net income of $28.4 million, or $0.72 per diluted share, for Q2 2021, a decline from $31.9 million in Q1 2021 but an improvement from a $33.1 million loss year-over-year. New CEO Christopher McComish will take over on August 23, 2021. Key financial metrics include a ROA of 1.21% and a deposit increase of $139.2 million. However, net interest income fell to $68.3 million, and noninterest income dipped to $15.4 million. The Board declared a consistent $0.28 per share dividend.
The Board of Directors of S&T Bancorp, Inc. (NASDAQ: STBA) declared a cash dividend of $0.28 per share during its meeting on July 19, 2021. This dividend matches the amount declared in the same period last year. With the closing price of $28.91 on July 19, 2021, the annualized yield is 3.9%. Shareholders of record as of August 5, 2021 will receive the dividend on August 19, 2021.
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