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.
S&T Bancorp (NASDAQ: STBA) reported a net loss of $33.1 million, or $0.85 per share, in Q2 2020, reversing from a profit of $13.2 million in Q1 2020. This loss primarily stemmed from a $58.7 million fraud incident involving a check kiting scheme, impacting net income by $46.3 million. Despite challenges, the bank's deposits rose by $810 million to $7.9 billion, aided by PPP loans and stimulus payments. The Board declared a $0.28 dividend, a 3.7% increase from the previous year, payable on August 27, 2020.
The Board of Directors of S&T Bancorp declared a $0.28 per share cash dividend, reflecting a 3.7% increase from last year's $0.27 dividend. This annualized yield, based on the July 27, 2020 closing price of $22.93, stands at 4.9%. The dividend is payable on August 27, 2020, to shareholders of record as of August 13, 2020. S&T Bancorp, with a market capitalization of $9.0 billion, operates in five markets across Pennsylvania and Ohio and has been recognized for customer satisfaction in retail banking.
S&T Bancorp, Inc. (STBA) announced a conference call for its second quarter 2020 earnings scheduled for July 30, 2020, at 1:00 p.m. ET. The call will be led by CEO Todd D. Brice, President David G. Antolik, and CFO Mark Kochvar, with public access via the Internet. The earnings release will occur before market opening on the same day. The call will be archived for 90 days post-event. S&T Bank operates in five key markets and was recently ranked #1 in customer satisfaction for retail banking in the Mid-Atlantic region.