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. reports developments tied to its role as the bank holding company for S&T Bank, a banking subsidiary established in 1902 with operations in Pennsylvania and Ohio. Company updates commonly cover quarterly and annual earnings, net interest income, loan growth, deposit trends, credit-loss provisions, asset quality, regulatory capital levels and fee-based financial services.
News also includes board-approved cash dividends, share repurchases, branch network updates and other capital or operating actions. S&T Bank provides retail, commercial and small-business banking, cash management, trust, brokerage and private investment account services.
The Board of Directors of S&T Bancorp declared a $0.28 per share cash dividend, consistent with the previous year's distribution. This dividend offers an annualized yield of 4.0% based on the January 25, 2021 closing price of $28.01. The dividend is payable on February 25, 2021 to shareholders of record as of February 11, 2021, indicating a stable return for investors.
S&T Bancorp, a $9.2 billion bank holding company, operates primarily within Pennsylvania and surrounding regions.
S&T Bancorp, Inc. (NASDAQ: STBA) will release its fourth quarter 2020 earnings on January 28, 2021, before market opening. A conference call led by CEO Todd D. Brice, President David G. Antolik, and CFO Mark Kochvar, will take place at 1:00 p.m. ET. Participants can access the call via S&T Bank's Investor Relations webpage. The call will focus on financial performance and future outlook, with a recording available for 90 days post-event. The company is a $9.2 billion bank holding entity operating in multiple markets, recognized for its customer service.
S&T Bank announced the retirement of Upstate New York Market President Patrick Tobin, effective December 31, 2020. The bank will close its Rochester loan office and consolidate operations to its Buffalo location. With assets of $9.2 billion, S&T Bank operates in five markets. Tobin, who joined in 2015, will be succeeded by Joe Brennan. The transition aims to ensure seamless service continuity for clients. S&T Bancorp was recently ranked #1 in customer satisfaction for retail banking in the Mid-Atlantic by J.D. Power.
S&T Bank has appointed Jason Forman as executive vice president and director of consumer banking, aiming to enhance growth and transformation in retail banking and related services. With $9.2 billion in assets, S&T Bank operates in five markets across Pennsylvania and Ohio. Forman, previously at Huntington Bank, will focus on innovation and operational excellence to boost the bank's consumer business. The bank was recently ranked #1 in customer satisfaction in the Mid-Atlantic by J.D. Power.
S&T Bancorp reported a net income of $16.7 million for Q3 2020, recovering from a net loss of $33.1 million in Q2 2020, attributed to a $46.3 million fraud loss. Key performance metrics include a ROA of 0.72% and ROE of 5.80%. Net interest income slightly declined to $69.3 million, influenced by lower loan balances. Total assets decreased to $9.2 billion. A $0.28 per share dividend was declared, maintaining the same rate as the previous year. The allowance for credit losses rose to 1.64% of total portfolio loans due to increased reserves amid ongoing pandemic impacts.
The Board of Directors of S&T Bancorp declared a cash dividend of $0.28 per share during their meeting on October 19, 2020, consistent with the same dividend declared in the prior year. This equates to an annualized yield of 5.6% based on the closing price of $19.90 on the declaration date. The dividend will be payable on November 19, 2020 to shareholders of record as of November 5, 2020.
S&T Bank has announced the hiring of Jordyn Kemats as executive vice president of consumer sales, strategy, and transformation, and the promotion of Susan Nicholson to executive vice president of employee services. The bank, with assets of $9.5 billion, operates in five markets, including Western and Central Pennsylvania, Northeast and Central Ohio, and Upstate New York. Both executives bring crucial experience aimed at enhancing customer focus and employee development, critical for the bank's continued growth.
S&T Bancorp, Inc. (NASDAQ: STBA) announced the retirement of CEO Todd D. Brice, effective March 31, 2021, after over 35 years with the company. Brice will continue as a consultant for three years, aiding the transition to a new CEO. Under his leadership, S&T Bank has grown to $9.5 billion in assets, operating across five markets including Western and Eastern Pennsylvania, Northeast and Central Ohio, and Upstate New York. A search for Brice's successor has begun, with both internal and external candidates being considered.
S&T Bancorp, Inc. (NASDAQ: STBA) announced a conference call for its third quarter 2020 earnings on October 22, 2020, at 1:00 p.m. ET. The earnings release will be available before the market opens on the same day. S&T Bancorp operates in five markets across Pennsylvania and Ohio, and its subsidiary, S&T Bank, has been recognized for customer satisfaction in retail banking by J.D. Power.
S&T Bancorp, Inc. (NASDAQ: STBA) has launched a new mobile-first website and digital sales tool named Merlin to enhance customer experience amid the COVID-19 pandemic. With branch visits declining, this initiative aims to facilitate digital transition for customers, catering to their unique financial needs. According to J.D. Power's 2020 study, successful adaptation to online services is critical for banks. Merlin offers a quick financial assessment and directs users to appropriate products, reflecting S&T's commitment to improving digital banking services.