S&T Bancorp Announces Extension Of Share Repurchase Plan
PR Newswire
INDIANA , Pa., March 16, 2021 /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 an extension of its $50 million share repurchase plan, which was set to expire on March 31, 2021 , at its regular meeting held March 15, 2021 . This repurchase authorization, which is effective through March 31, 2022 , permits S&T to repurchase from time to time up to the previously authorized $50 million in aggregate value of shares of S&T's common stock, with $37.4 million of capacity remaining as of today, 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 laws.
About S & T Bancorp, Inc. and S & T Bank
S&T Bancorp, Inc. is a $9.0 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 ranked #1 in customer satisfaction with retail banking in the Mid-Atlantic including best in communication and advice by J.D. Power . 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 stbancorp.com , stbank.com , or follow us on Facebook , Instagram , and LinkedIn .
SOURCE S&T Bancorp, Inc.