S&T BANCORP, INC. ANNOUNCES BOARD OF DIRECTORS LEADERSHIP TRANSITION

Rhea-AI Summary

S&T Bancorp (NASDAQ: STBA) announced significant leadership changes in its Board of Directors. Christine J. Toretti, who served as board chair since 2018 and director since 1984, will resign on September 28, 2025, following her appointment as ambassador to Sweden. The board has appointed CEO Christopher J. McComish as the new chairman, combining the CEO and chair roles. Additionally, Jeffrey D. Grube, a board member since 1997, has been named lead independent director.

Grube currently serves as chair of the credit risk committee and is a member of multiple other committees. The lead independent director will act as a liaison between the CEO and independent directors, oversee board operations and governance, and ensure effective board oversight.

Positive

• Board structure modernization with implementation of lead independent director role
• Seamless leadership transition with experienced internal candidates
• Consolidation of CEO and Chairman roles under proven leadership

Negative

• Loss of long-term board chair with over 40 years of experience
• Potential corporate governance concerns with combined CEO/Chairman role

News Market Reaction

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-0.53% News Effect

On the day this news was published, STBA declined 0.53%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Christopher J. McComish Elected as Chairman of the Board; Jeffrey D. Grube Appointed as Lead Independent Director

INDIANA, Pa., Sept. 24, 2025 /PRNewswire/ -- S&T Bancorp, Inc. (S&T) (NASDAQ: STBA), the holding company for S&T Bank, today announced that Christine J. Toretti, chair of the board of directors of both S&T Bancorp, Inc. and S&T Bank since 2018, and a director since 1984, has notified the board of her intent to resign September 28 (the Effective Date) with respect to her appointment as ambassador to Sweden by the United States Senate.

"We are indebted to Christine for her commitment to S&T during her tenure as chair of the board. On behalf of the board and the S&T Bank team, I would like to thank her for her exemplary leadership and board service for more than four decades," said Chief Executive Officer (CEO) Christopher McComish.

Following Ms. Toretti's notification, the board approved combining the roles of the CEO and chair and appointing a lead independent director as of the Effective Date. The lead independent director will serve as liaison between the CEO and the independent directors, supervise various board operations and governance, fostering an effective, engaged and independent board culture, and ensure the board fulfills its oversight responsibilities.

As a result of this leadership structure change, the board has appointed Christopher J. McComish, chief executive officer and a director since August 2021, as chair of the board. The board made this change given Mr. McComish's four years of leading the company as CEO, his solid performance and the performance of S&T. The board is confident that this experience best positions him to capitalize on a deep understanding of S&T's business to identify the most critical business issues that should be raised for consideration by the board. Additionally, the board appointed Jeffrey D. Grube as its lead independent director. Mr. Grube, board director since 1997, currently serves as chair of the credit risk committee and is also a member of audit committee, compensation and benefits committee, executive committee and risk committee. Both board appointments are effective as of September 28.

"Mr. Grube will step into the lead independent director role with ease given his ability to advise at a strategic level complimented by his deep knowledge of S&T," said McComish.

Mr. Grube, new lead independent director of the board, said, "I'm honored and enthusiastic to step into this new role and continue our board's tradition of delivering impactful leadership for all of our stakeholders." Toretti shared, "I am grateful to have had the opportunity to serve S&T and to have been part of the Bank's journey for over 40 years. I am leaving the board in great hands with Chris and Jeff at the helm, and with the board's unwavering support and guidance, the Bank is well-positioned to continue executing and delivering for its shareholders."

About S&T Bancorp, Inc. and S&T Bank

S&T Bancorp Inc. is a $9.8 billion bank holding company that is headquartered in Indiana, Pennsylvania, and trades on the NASDAQ Global Select Market under the symbol STBA. Its principal subsidiary, S&T Bank, was established in 1902 and operates in Pennsylvania and Ohio. For more information, visit stbancorp.com or stbank.com. Follow us on Facebook, Instagram and LinkedIn.

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SOURCE S&T Bancorp, Inc.

FAQ

Who is the new Chairman of S&T Bancorp (NASDAQ: STBA)?

Christopher J. McComish, the current CEO since August 2021, has been appointed as the new Chairman of S&T Bancorp effective September 28, 2025.

Why is Christine Toretti leaving S&T Bancorp's board?

Christine Toretti is resigning from her position as board chair due to her appointment as ambassador to Sweden by the United States Senate.

Who is the new Lead Independent Director of S&T Bancorp?

Jeffrey D. Grube, who has been a board director since 1997, has been appointed as the new Lead Independent Director.

What are the responsibilities of S&T Bancorp's new Lead Independent Director?

The Lead Independent Director will serve as liaison between the CEO and independent directors, supervise board operations and governance, foster independent board culture, and ensure proper oversight responsibilities.

How long did Christine Toretti serve on S&T Bancorp's board?

Christine Toretti served on S&T Bancorp's board for over 40 years, joining as a director in 1984 and serving as board chair since 2018.