S&T Bancorp, Inc. announces an Equity Buyback for $50 million worth of its shares.
January 25, 2024 at 07:31 am EST
Share
S&T Bancorp, Inc. (NasdaqGS:STBA) announces a share repurchase program. Under the program, the company will repurchase up to $50 million worth of its outstanding common stock. The repurchase program will be funded from cash on hand and internally generated funds.
The repurchase program is valid till May 30, 2025.
S&T Bancorp, Inc. is a bank holding company. The Companyâs segments include Commercial Real Estate (CRE), Commercial and Industrial (C&I), Commercial Construction, Business Banking, Consumer Real Estate and Other Consumer. The CRE segment includes loans secured by commercial purpose real estate, including both owner-occupied properties and investment properties for various purposes such as hotels, retail, multifamily and healthcare. The C&I segment includes loans made to operating companies or manufacturers for the purpose of production, operating capacity, accounts receivable, inventory, or equipment financing. The Commercial Construction segment includes loans made to finance the construction of buildings or other structures, as well as to finance the acquisition and development of raw land for various purposes. The Business Banking segment includes commercial loans made to small businesses. Consumer Real Estate segment includes loans secured by first and second liens.
S&T BANCORP, INC. 
