s & t bancorp inc (STBA) Key Developments
S&T Bancorp, Inc. Announces Board and Executive Appointments
Mar 4 15
S&T Bancorp Inc. announced the closing of its acquisition of Integrity Bancshares Inc. The company announced the following new members to its Board of Directors who previously served on the Integrity Bancshares Inc. board: James T. Gibson, previous Chairman, President and Chief Executive Officer of Integrity Bancshares and Integrity Bank since its inception in June 2003. Jerry Hostetter, a current partner at Prestige Investment Group since its founding in 2012. Mr. Hostetter has served on the board of Integrity since 2011. Steven Weingarten, currently an attorney at McNees Wallace & Nurick LLC since 1989, and a member since 1993. He has served on the board of Integrity since 2003. In addition, S&T will appoint two new executive officers who will transition from their previous positions at Integrity Bancshares Inc.: Thomas J. Sposito, II, will serve as Senior Executive Vice President and Market Executive of S&T. He currently serves as Chief Operating Officer of Integrity Bank and held the previous titles of Chief Revenue Officer and Executive Vice President. William K. Poole, will serve as Executive Vice President and Business Development Officer of S&T. Mr. Poole currently serves as an Executive Vice President of Integrity Bank.
S&T Bancorp Inc. Presents at 22nd Annual Emerald Groundhog Day Investment Forum, Feb-05-2015 02:45 PM
Feb 4 15
S&T Bancorp Inc. Presents at 22nd Annual Emerald Groundhog Day Investment Forum, Feb-05-2015 02:45 PM. Venue: Radisson Blu - Warwick Hotel, Philadelphia, Pennsylvania, United States.
S&T Bank Announces Executive Promotions
Feb 4 15
S&T Bank announced the recent promotion of six distinguished employees: Daniel M. Baronick was promoted to Senior Vice President, Commercial Banking. Dan has worked with S&T Bank for over seven years, and previously served on the board of Make A Wish of Western PA and West Virginia, and is the Past President of the DuBois Area United Way and DuBois Area YMCA. Richard C. Dayhas been promoted to Senior Vice President, Commercial Banking. Rick has 27 years of experience in the banking industry, and holds a Bachelor of Science degree in Business Administration from Clarion University. His focus primarily surrounds automobile dealer financing. Douglas A. Hilditchhas been appointed Senior Vice President, Chief Compliance Officer. His community banking experience spans 28 years, eight of which were spent at S&T Bank. He has a Bachelor of Science degree in Business Administration and Accounting from the University of Baltimore, and holds the following professional designations: Certified Regulatory Compliance Manager, Certified Internal Auditor, Certified Financial Services Auditor, and Certification in Risk Management Assurance. Rob Jorgenson has been named Executive Vice President, Marketing Division Manager. He has more than 25 years of experience in the financial marketing and sales industry and served with S&T Bank for over a decade. Rob earned a Bachelor of Arts degree in Business Administration and Business Education from Grove City College and graduated from the Pennsylvania Banker's Association's Advanced School of Banking. Scott D. Mazeywas named Senior Vice President, Commercial Credit Administration Manager. He has 15 years of experience in credit analysis and formerly held the title of Vice President, Credit Analysis Operations Manager at S&T Bank. Scott attended Indiana University of Pennsylvania where he earned a Bachelor of Arts degree in Economics. James A. Taylor was promoted to Senior Vice President, Commercial Banking. With over 24 years of experience in investment real estate banking, he joined the northeast Ohio division of S&T Bank in August 2012. Jamie holds a Bachelor of Business Administration degree in Finance from the University of Akron, and currently volunteers with the United Way and the Akron Food Bank.
S&T Bancorp Inc. Declares Dividend Payable on February 26, 2015
Jan 27 15
S&T Bancorp Inc. declared a $0.18 per share dividend at its regular meeting held on January 26, 2015, a 12.5% increase compared with the fourth quarter of 2013. The dividend is payable Feb. 26, 2015 to shareholders of record on February 12, 2015.
S&T Bancorp Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014
Jan 27 15
S&T Bancorp Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported earnings of $14.5 million, or $0.49 per diluted share, compared to fourth quarter of 2013 earnings of $11.9 million, or $0.40 per diluted share. Total interest income was $41.38 million compared to $38.78 million reported a year ago. Net interest income was $38.07 million compared to $35.65 million reported a year ago. Income before taxes was $18.46 million compared to $15.96 million reported a year ago. Return on average tangible assets was 1.22% compared to 1.10% reported a year ago. Return on average tangible shareholders' equity was 13.35% compared to 12.58% reported a year ago. Return on average assets was 1.17% compared to 1.03% reported a year ago. Return on average shareholders' equity was 9.38% compared to 8.40% reported a year ago. Book value per share was $20.42 compared to $19.21 as at December 31, 2013. Tangible book value per share was $14.46 compared to $13.22 as at December 31, 2013.
Full year 2014 earnings increased 15% to $57.9 million, or $1.95 per diluted share, compared to 2013 earnings of $50.5 million, or $1.70 per diluted share. A 15% increase in earnings for 2014 which was driven by solid loan growth, a stable net interest margin, well controlled expenses and excellent asset quality. Return on average assets increased 10 basis points to 1.22% compared to 1.12% for 2013 and return on average equity increased 50 basis points to 9.71% compared to 9.21% for 2013. The improvement in earnings was primarily due to an increase in net interest income of $8.8 million, or 6.4%, and a decrease in the provision for loan losses of $6.6 million, or 79%. The increase in net interest income was primarily due to strong average loan growth of $259 million during 2014. Total interest income was $160.52 million compared to $153.75 million reported a year ago. Net interest income was $148.04 million compared to $139.19 million reported a year ago. Income before taxes was $75.42 million compared to $65.02 million reported a year ago. Return on average tangible assets was 1.28% compared to 1.19% reported a year ago. Return on average tangible shareholders' equity was 14.02% compared to 13.94% reported a year ago.