Welcome to our dedicated page for S & T Bancorp news (Ticker: STBA), a resource for investors and traders seeking the latest updates and insights on S & T Bancorp stock.
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, 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.
S&T Bancorp, Inc. (NASDAQ: STBA) has appointed Christopher J. McComish as its new CEO, effective August 23, 2021. McComish, previously of TCF Bank, succeeds David G. Antolik, who served as interim CEO since April 2021 and will remain as president. The board expressed confidence in McComish's leadership, citing his extensive experience in consumer and commercial banking. With over 30 years in the financial sector, McComish aims to facilitate growth and enhance customer engagement as S&T pursues its strategic objectives.
S&T Bancorp, Inc. (NASDAQ: STBA) will hold a live conference call on July 22, 2021, at 1:00 p.m. ET to discuss its second quarter 2021 earnings. The company will release its earnings before the market opens on the same day. The conference call will feature interim CEO David G. Antolik and CFO Mark Kochvar, with public access via S&T Bank's Investor Relations webpage. A webcast replay will be available for 90 days post-call, and participants can submit questions before and during the call.
S&T Bank has appointed George Moy as the market executive and commercial banking regional manager for Northeast Ohio. With over 20 years of experience, Moy will drive the bank's growth strategy and enhance its brand presence in the region. S&T Bank, with $9.3 billion in assets, operates in five markets across Pennsylvania and Ohio. George Moy's leadership aims to improve customer experience and revenue through collaboration among various banking services. His previous roles include senior positions at large national banks.
S&T Bancorp, Inc. (NASDAQ: STBA) reported a record net income of $31.9 million, or $0.81 per diluted share for Q1 2021, up from $24.2 million in Q4 2020 and $13.2 million in Q1 2020. The bank's return on average assets reached 1.42%, with a net interest margin of 3.47%. Deposits surged by $455.5 million to $7.9 billion, while portfolio loans fell by $42.7 million to $7.2 billion. A consistent cash dividend of $0.28 per share was declared, in line with the previous year.
The Board of Directors of S&T Bancorp (NASDAQ: STBA) declared a cash dividend of $0.28 per share during a meeting on April 19, 2021. This maintains the same dividend amount as the previous year. Based on the $32.82 closing price on April 19, the annualized yield stands at 3.4%. The dividend will be payable on May 20, 2021 to shareholders of record by May 6, 2021.
S&T Bancorp, Inc. (NASDAQ: STBA) announced a conference call to discuss its first quarter 2021 earnings on April 22, 2021, at 1:00 p.m. ET. The earnings release will be available prior to market opening on the same day. The conference call will be led by interim CEO David G. Antolik and CFO Mark Kochvar and is open to the public via S&T Bank’s Investor Relations webpage. Participants can submit questions via email before and during the call. A replay will be available until April 29, 2021. For more details, visit S&T’s official website.
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