S&T BANCORP THANKS FRANK J. PALERMO, JR. FOR 12 YEARS OF SERVICE ON BOARD OF DIRECTORS

S&T Bancorp (NASDAQ: STBA) announced that Frank J. Palermo, Jr. will not seek reelection to the board of directors after reaching mandatory retirement age, concluding 12 years of service.

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S&T Bancorp (NASDAQ: STBA) announced that Frank J. Palermo, Jr. will not seek reelection to the board of directors after reaching mandatory retirement age, concluding 12 years of service. Palermo will complete his current term until May 13, 2025, following the Annual Meeting of Shareholders.

Palermo, who has served since 2013, is the managing shareholder of Palermo, Kissinger & Associates, P.C. since 1983. His extensive 43-year career includes roles as a Certified Public Accountant, Certified Valuation Analyst, and former chairman of Gateway Bank of Pennsylvania's audit committee from 2004 until its acquisition by S&T in 2012. He also served as chair of S&T's audit committee, bringing strategic fiscal expertise to the board.

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INDIANA, Pa., May 6, 2025 /PRNewswire/ -- S&T Bancorp, Inc. (S&T) (NASDAQ: STBA), the holding company for S&T Bank, previously announced that after 12 years on S&T's board, Frank J. Palermo, Jr., has reached the mandatory retirement age set forth in their corporate governance guidelines and, therefore, will not stand for reelection. S&T thanks Palermo for his dedicated service and reports that he will serve out the remainder of his term until its expiration immediately following the May 13, 2025 Annual Meeting of Shareholders.

"Frank's experience and knowledge made him a valuable asset to S&T Bancorp and the board of directors, and we wish him well in his retirement," said Christine Toretti, Chairman of the S&T Bank Board of Directors.

Palermo has been the managing shareholder of the accounting firm, Palermo, Kissinger & Associates, P.C. since 1983 and he is also a Certified Public Accountant. He was integral in forming Gateway Bank of Pennsylvania where he was chairman of the audit committee from 2004 through 2012, at which time Gateway was acquired by S&T. Palermo has also served as a Certified Valuation Analyst, a vice president and controller at a community bank and additionally, his career includes 43 years in public accounting.

"Frank's extensive background in finance brought strategic fiscal expertise and perspectives to our board, particularly in his role as chair of S&T's audit committee," stated Chris McComish, chief executive officer. "We thank him for his contributions and dedication since 2013."

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

S&T Bancorp, Inc. is a $9.7 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

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Why is Frank J. Palermo Jr. leaving the STBA board of directors?

Frank J. Palermo Jr. is leaving because he has reached the mandatory retirement age set forth in S&T Bancorp's corporate governance guidelines.

When will Frank Palermo's term on STBA's board end?

His term will expire immediately following the Annual Meeting of Shareholders on May 13, 2025.

What positions did Frank Palermo hold before joining S&T Bancorp's board?

Palermo was managing shareholder of Palermo, Kissinger & Associates, P.C. since 1983, chairman of Gateway Bank's audit committee (2004-2012), and had a 43-year career in public accounting.

How long did Frank Palermo serve on S&T Bancorp's board?

Frank Palermo served on S&T Bancorp's board for 12 years, since 2013.