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S&T Bancorp Inc - STBA STOCK NEWS

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.

Rhea-AI Summary

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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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 $42.89 as of December 6, 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

1.62B
37.72M
1.4%
71.15%
1.94%
Banks - Regional
State Commercial Banks
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United States of America
INDIANA