S&T Bancorp, Inc. Announces Merger Approval by IBT Bancorp, Inc. Shareholders
13 Mai 2008 - 11:03PM
PR Newswire (US)
INDIANA, Pa., May 13 /PRNewswire-FirstCall/ -- S&T Bancorp,
Inc. (NASDAQ:STBA) today announced shareholder approval of the
previously announced merger transaction in which S&T Bancorp,
Inc. will acquire IBT Bancorp, Inc. (AMEX:IRW). The special meeting
of shareholders of IBT Bancorp, Inc. was held on May 13, 2008 at
2:00 p.m. EDT. The IBT Bancorp, Inc. shareholders approved and
adopted the Agreement and Plan of Merger as of December 16, 2007
between S&T Bancorp, Inc. and IBT Bancorp, Inc. Among other
things, the Agreement and Plan of Merger does the following: (Logo:
http://www.newscom.com/cgi-bin/prnh/20070917/NEM099LOGO ) -- It
provides for the merger of IBT Bancorp, Inc. with and into S&T
Bancorp, Inc. -- It denotes that each share of IBT Bancorp, Inc.
common stock outstanding immediately prior to the merger will be
converted into cash or shares of S&T Bancorp, Inc. common stock
with cash in lieu of fractional shares. S&T Bancorp, Inc. has
received all necessary regulatory approvals for completion of the
merger. The merger is currently expected to be effective in early
June 2008. With this merger, S&T Bank will have combined assets
of more than $4.3 billion and 55 branch offices. About S&T
Bancorp, Inc. Headquartered in Indiana, PA, S&T Bancorp, Inc.
operates 46 offices within Allegheny, Armstrong, Blair, Butler,
Cambria, Clarion, Clearfield, Indiana, Jefferson and Westmoreland
counties. With assets of $3.5 billion, S&T Bancorp, Inc. stock
trades on the NASDAQ Global Select Market under the symbol STBA.
For more information, visit stbank.com. About IBT Bancorp, Inc. IBT
Bancorp, Inc. is a bank holding company that provides a range of
commercial and retail banking services through its wholly owned
banking subsidiary, Irwin Bank. Irwin Bank engages in a
full-service mortgage, commercial and consumer banking business, as
well as trust and a variety of deposit services provided to its
customers. Irwin Bank's main office, full- service branch offices,
loan center, trust office and supermarket branches are located in
the Pennsylvania counties of Westmoreland and Allegheny.
http://www.newscom.com/cgi-bin/prnh/20070917/NEM099LOGO
http://photoarchive.ap.org/ DATASOURCE: S&T Bancorp, Inc.
CONTACT: Rob Jorgenson of S&T Bancorp, Inc., +1-724-465-5448
Web site: http://www.stbank.com/
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