S&T Bancorp, Inc. Announces Earnings

Indiana, Penn.-headquartered S&T Bancorp, Inc. has announced earnings for the fourth quarter and the year ended December 31, 2009. “The economic events of 2009 presented previously unknown performance challenges and credit quality stresses that significantly affected our earnings this year,” comments president and chief executive officer Todd D. Brice.

Earning assets have decreased $262 million over the past 12 months, driven by a $164 million decrease in loans and $98 million decrease in investment securities. The loan decrease is primarily due to reduced demand for commercial real estate financing and development in the market, and less credit demand and utilization by businesses responding to the recessionary economic environment.

With assets of $4.2 billion, S&T Bancorp, Inc. operates 55 offices within Allegheny, Armstrong, Blair, Butler, Cambria, Clarion, Clearfield, Indiana, Jefferson, and Westmoreland counties.