INDIANA, Pa., Sept. 17, 2019 /PRNewswire/ -- The Board of
Directors of S&T Bancorp, Inc. (S&T) (NASDAQ: STBA), the
holding company for S&T Bank with locations in Pennsylvania, Ohio and New
York authorized a new $50
million share repurchase plan at its regular meeting held
September 16, 2019. This new
repurchase authorization, which is effective through March 31, 2021, permits S&T to repurchase
from time to time up to $50 million
in aggregate value of shares of S&T's common stock through a
combination of open market and privately negotiated repurchases.
The specific timing, price and quantity of repurchases will be at
the discretion of S&T and will depend on a variety of factors,
including general market conditions, the trading price of the
common stock, legal and contractual requirements and S&T's
financial performance. The repurchase plan does not obligate
S&T to repurchase any particular number of shares. S&T
expects to fund any repurchases from cash on hand and internally
generated funds. Any share repurchases will not begin until
permissible under applicable securities laws.
About S&T Bancorp, Inc. and S&T Bank
S&T
Bancorp, Inc. is a $7.3 billion bank
holding company that is headquartered in Indiana, Pa. and trades on the NASDAQ Global
Select Market under the symbol STBA. Its principal subsidiary,
S&T Bank, was recently named by Forbes as a 2019 World's Best
Bank and a 2018 Best-in-State Bank. Established in 1902, S&T
Bank operates in five markets including Western Pennsylvania, Central Pennsylvania, Northeast Ohio, Central Ohio, and Upstate New York. For more
information, visit www.stbancorp.com, www.stbank.com, or follow us
on Facebook, Instagram, and LinkedIn.
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SOURCE S&T Bancorp, Inc.