S&T Bancorp, Inc. operates as the holding company for S&T Bank that provides various banking products and services to its customers. The company provides its services through offices located in Allegheny, Armstrong, Blair, Butler, Cambria, Clarion, Clearfield, Indiana, Jefferson, Washington and Westmoreland counties of Pennsylvania. The company also has two loan production offices, or LPOs, in Ohio. The bank has three wholly owned operating subsidiaries, such as S&T Insurance Group, LLC; S&T Bancholdings, Inc.; and Stewart Capital Advisors, LLC. S&T Insurance Group, LLC, through its subsidiaries, offers various insurance products. S&T Bancholdings, Inc. is an investment company. Stewart Capital Advisors, LLC, is a registered investment advisor that manages private investment accounts for individuals and institutions and advises the Stewart Capital Mid Cap Fund. Segments The company operates through three segments: Community Banking, Wealth Management, and Insurance. Community Banking This segment offers services, which include accepting time and demand deposits, originating commercial and consumer loans, and providing letters of credit and credit card services. This segment has 63 locations, including 55 branches located in 11 counties in Pennsylvania, of which 40 are owned and 15 are leased, including the aforementioned building that shares space with its data center. Wealth Management This segment offers discount brokerage services, services as executor and trustee under wills and deeds, guardian and custodian of employee benefits and other trust and brokerage services, as well as a registered investment advisor that manages private investment accounts for individuals and institutions. This segment leases two offices, one in Allegheny County, Pennsylvania and one in Westmoreland County, Pennsylvania. Insurance This segment includes a full-service insurance agency offering commercial property and casualty insurance, group life and health coverage, employee benefit solutions, and personal insurance lines. Lending Activities As of December 31, 2013, the company’s loan portfolio included commercial real estate, commercial and industrial, and commercial construction loans; and consumer loans, such as home equity, residential mortgage, installment and other consumer, and consumer construction loans. Investment Securities As of December 31, 2013, the company’s investment portfolio included obligations of U.S. government corporations and agencies; collateralized mortgage obligations of U.S. government corporations and agencies; residential mortgage-backed securities of U.S. government corporations and agencies; commercial mortgage-backed securities of U.S. government corporations and agencies; obligations of states and political subdivisions; and marketable equity securities. Deposits As of December 31, 2013, the company’s deposit products included noninterest-bearing demand, interest-bearing demand, money market, savings, certificates of deposit, and CDARs and brokered deposits. Supervision and Regulation The company is registered as a financial holding company with the Board of Governors of the Federal Reserve System under the Bank Holding Company Act of 1956, as amended. The bank’s deposits are insured by the Federal Deposit Insurance Corporation (FDIC) to the maximum extent provided by law. As a state-chartered, commercial bank, the deposits of which are insured by the FDIC, the bank is subject to the supervision and regulation of the Pennsylvania Department of Banking and Securities, and the FDIC. In addition, the bank is subject to affiliate transaction rules in Sections 23A and 23B of the Federal Reserve Act. As an FDIC-insured bank, the bank is also subject to FDIC insurance assessments, which are imposed based upon the risk the institution poses to the Deposit Insurance Fund. In connection with its lending activities, the bank is subject to various federal laws designed to protect borrowers and promote lending to various sectors of the economy and population. These include the Equal Credit Opportunity Act, the Truth-in-Lending Act, the Home Mortgage Disclosure Act, the Real Estate Settlement Procedures Act, the Fair Credit Reporting Act, and the Community Reinvestment Act. The bank is subject to the Bank Secrecy Act, its implementing regulations and other anti-money laundering laws and regulations, including the USA Patriot Act of 2001. The Dodd-Frank Act is changing the bank regulatory structure and affecting the lending, deposit, investment, trading and operating activities of financial institutions and their holding companies, including the company and the bank. Significant Events In June 2014, S&T Bank announced that it will open its newest S&T Bank branch at 141 West Beaver Ave., State College, Pa. History S&T Bancorp, Inc. was founded in 1902.
s & t bancorp inc (STBA:NASDAQ GS)
800 Philadelphia Street
Indiana, PA 15701
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