If you’re not growing, you’re dying.
That old adage is especially relevant to the banking industry, where maintaining the status quo is not an acceptable approach to business.
S&T Bank, which is headquartered in Indiana, Pa, and entered the southeastern Pennsylvania market in late 2019 through its acquisition of DNB First, is thriving, with more than $9 billion in assets under management and a footprint that extends beyond the Keystone State.
With an additional presence in central and northeast Ohio and upstate New York, S&T Bank provides a full range of financial services to families and businesses. It was recently recognized by Forbes as one of the highest-rated banks in Pennsylvania, further confirming its ability to create value for its customers and shareholders.
“S&T Bank strives to be the most trusted community bank in every market we serve, with every product and service we deliver,” said Interim CEO and President Dave Antolik.
Established in 1902 as the Savings & Trust Company of Indiana, S&T Bank has remained a dedicated community bank that maintains a sincere interest in both its customers and the success of local communities. This interest has helped S&T meet its customers’ needs with quality banking services and foster the economic vitality of its communities.
“Our mission calls for us to build relationships rooted in excellent performance and long-standing trust,” said Antolik. “We endeavor to be a reliable resource, a family advisor, a financial anchor, and a source of civic pride.”
S&T Bank’s commitment to the communities it serves is manifested through:
- The Gift of Time: The bank’s employees volunteer and give back through various fundraising efforts.
- Financial Wellness: S&T demonstrates its dedication to providing the best financial products and services to its customers, right where they live and work.
- Charitable Support: The bank provides loans to municipalities and nonprofit organizations, donations to qualified charities, and assistance to local housing authorities, providing affordable housing for low-income families and senior citizens.
“S&T is a high-performing company, as evidenced by its superior earnings and consistently high dividend payments, proven management team, and 100-plus-year history of responsiveness to the customers and communities it serves,” said William Hieb, the former CEO of DNB First who sits on S&T Bank’s Board of Directors.
In April, the bank announced record net income of $31.9 million for the first quarter of 2021. That compares favorably to net income of $24.2 million for the fourth quarter of 2020 and net income of $13.2 million for the first quarter of 2020.
“These results reflect what our company is capable of delivering,” said Antolik. “We are optimistic about where S&T is headed in 2021.”