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INDIANA, Pa., April 22, 2021 /PRNewswire/ 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, announced record net income of $31.9 million, or $0.81 per diluted share, for the first quarter of 2021 compared to net income of $24.2 million, or $0.62 per diluted share, for the fourth quarter of 2020, and net income of $13.2 million, or $0.34 per diluted share, for the first quarter of 2020.
First Quarter of 2021 Highlights:
Record net income of $31.9 million.
Return metrics were strong with return on average assets (ROA) of 1.42%, return on average equity (ROE) of 11.15%, return on average tangible equity (ROTE) (non-GAAP) of 16.78% and pre-tax pre-provision income to average assets (PTPP) (non-GAAP) of 1.89%.
S&T Bancorp: Q1 Earnings Snapshot
April 22, 2021
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The bank, based in Indiana, Pennsylvania, said it had earnings of 81 cents per share.
The holding company for S&T Bank posted revenue of $92 million in the period. Its revenue net of interest expense was $87.9 million, which topped Street forecasts.
S&T Bancorp shares have risen 30% since the beginning of the year. The stock has climbed 26% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STBA at https://www.zacks.com/ap/STBA Top Picks In Shopping
Grace Inspired Ministries Announces Groundbreaking Plans for Affordable Housing Aimed at Seniors
Sellersville Senior Apartments will bring much needed affordable and supportive housing to the area.
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TELFORD, Pa., April 21, 2021 /PRNewswire/ Grace Inspired Ministries (GIM), along with development partner LNWA (Leon N. Weiner Associates, Inc.), announce plans for the formal groundbreaking this spring for Sellersville Senior Apartments. This new venture is an affordable rental community, comprised of 50 apartments, eight of which will be dedicated as supportive housing. The Residences will be built to the highest energy efficiency standards utilizing the Department of Energy Zero Energy Ready program.
Joe Napsha | Tribune-Review
Joe Napsha | Tribune-Review
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A Pittsburgh private equity firm purchased a Jeannette-based company that is one of the largest privately owned gravesite operators in the nation, with 26 memorial parks, including four in Westmoreland County and another in Washington County.
Stonewood Capital Management said this week an unnamed affiliate purchased CMS East Inc. on Agnew Road for an undisclosed price. CMS owns Westmoreland Memorial Park in Hempfield, Penn-Lincoln Memorial Park in North Huntingdon, Jeannette
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