Company Profile
- S&T Bancorp, Inc. (NASDAQ: STBA) (“the company”) is the bank holding company for Indiana, PA based S&T Bank (“the bank”), founded in 1902. The holding company was formed in 1983 and serves the rural communities of western PA, the larger MSAs of Pittsburgh, the Capital Region and Philadelphia PA, and Columbus and Akron, OH through a 72-branch footprint. STBA is a commercially oriented community bank that offers a full line of financial services that include consumer, commercial, and small business banking services as well as wealth management, and brokerage and trust services with AUA of $2.2 billion at 4Q23.
- STBA’s asset base is primarily comprised of a diverse loan portfolio, with the majority in commercially focused segments that include 30% investor CRE, 28% residential mortgages, 22% commercial (including 6% owner occupied CRE), multifamily 8%, and 6% C&D.
- In 2Q20, the company experienced a $58.7 million pre-tax loss from a check…