S&T BANCORP ANNOUNCES EXTENSION OF SHARE REPURCHASE PLAN
PR Newswire
INDIANA , Pa. , March 21, 2022 /PRNewswire/ -- The Board of Directors of S&T Bancorp, Inc. (S&T) (NASDAQ: STBA), the holding company for S&T Bank with operations in five markets including Western Pennsylvania , Eastern Pennsylvania , Northeast Ohio , Central Ohio , and Upstate New York authorized an extension of its $50 million share repurchase plan, which was set to expire on March 31, 2022 , at its regular meeting held March 21, 2022 . This repurchase authorization, which is effective through March 31, 2023 , 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 $9.5 billion bank holding company that is headquartered in Indiana , Pennsylvania and trades on the NASDAQ Global Select Market under the symbol STBA. Its principal subsidiary, S&T Bank was established in 1902 and operates in five markets including Western Pennsylvania , Eastern Pennsylvania , Northeast Ohio , Central Ohio , and Upstate New York. For more information visit stbancorp.com or stbank.com . Follow us on Facebook, Instagram and LinkedIn.
SOURCE S&T Bancorp, Inc.