INDIANA, Pa., April 26,
2024 /PRNewswire/ -- S&T Bancorp Inc. (NASDAQ:
STBA), the holding company for S&T Bank, today announced its
inclusion in the Forbes list of America's Best Banks. The annual
ranking, which was recently published on the Forbes website, is
based on metrics measuring growth, credit quality and
profitability, as well as stock performance.
"We are thrilled to be on the Forbes list of America's Best
Banks, as it reflects S&T's financial strength and overall
performance," said CEO Chris
McComish. "I am incredibly proud of the excellent progress
our team has made in achieving our performance goals to ensure that
we remain a stable, long-term partner for our customers,
communities and investors. Our people-forward approach to banking
means that we prioritize doing the right thing for all our
stakeholders."
To determine America's Best Banks, Forbes analyzed 10 financial
metrics for the 2023 calendar year, as well as stock performance in
the 12 months through March 18, 2024.
The 10 equally weighted financial metrics are net interest margin,
return on average tangible common equity, return on average assets,
common equity tier one ratio, efficiency ratio, nonperforming
assets as a percentage of total assets, reserves as a percentage of
total assets, risk-based capital ratio, operating revenue growth
and net charge-offs as a percentage of total loans.
The 200 largest publicly traded banks and thrifts by assets were
eligible for the list and Forbes ranked the top 100. S&T was
ranked as number 39 on the America's Best Banks list.
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 Pennsylvania and Ohio. S&T Bank was named by Forbes as a
2023 Best-in-State Bank and as one of America's Best Banks in 2024.
For more information, visit stbancorp.com or stbank.com.
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SOURCE S&T Bancorp, Inc.