Businessweek

S&T Bancorp, Inc. operates as the holding company for the S&T Bank, which provides community banking services in western Pennsylvania. The company provides services to its customers through offices located in Allegheny, Armstrong, Blair, Butler, Cambria, Clarion, Clearfield, Indiana, Jefferson, and Westmoreland counties of Pennsylvania. It has 49 branches located in 9 counties in Pennsylvania, of which 32 are owned and 17 are leased. It also leases one office to insurance. The company also leases one office, located in Allegheny County, Pennsylvania. S&T Bank has four wholly owned subsidiaries: S&T Insurance Group, LLC, S&T Professional Resources Group, LLC, S&T Bancholdings, Inc. and Stewart Capital Advisors, LLC. S&T Insurance Group, LLC, through its subsidiaries, offers various insurance products. S&T Professional Resources Group, LLC markets software developed by S&T Bank. S&T Bancholdings, Inc. is an investment company. Stewart Capital Advisors, LLC is a registered investment advisor that manages private investment accounts for individuals and institutions and advises the Stewart Capital Mid Cap Fund. The company's other subsidiaries include 9th Street Holdings, Inc. and STBA Capital Trust I. It also owns a one-half interest in Commonwealth Trust Credit Life Insurance Company (CTCLIC). Segments The company operates in three segments: Community Banking, Wealth Management, and Insurance. The Community Banking segment offers services which include accepting time and demand deposit accounts, originating commercial and consumer loans, and providing letters of credit and credit card services. The Wealth Management segment offers discount brokerage services, services as executor and trustee under wills and deeds, guardian and custodian of employee benefits and other trust and brokerage services, as well as a registered investment advisor that manages private investment accounts for individuals and institutions. The Insurance segment includes a full-service insurance agency offering commercial property and casualty insurance, group life and health coverage, employee benefit solutions, and personal insurance lines. Loan Portfolio As of December 31, 2011, the company’s loan portfolio included home equity; residential mortgage; installment other consumer; consumer construction; commercial real estate; commercial and industrial; and commercial construction loans. Investment Portfolio As of December 31, 2011, the company’s investment portfolio included obligations of U.S. government corporations and agencies; collateralized mortgage obligations of U.S. government corporations and agencies; mortgage-backed securities of U.S. government corporations and agencies; obligations of state and political subdivisions; and marketable equity securities. Deposits The company's deposit products include noninterest-bearing deposits; interest-bearing deposits; money market deposits; savings deposits; and certificates of deposit. Supervision and Regulation The company is registered as a financial holding company with the Board of Governors of the Federal Reserve System, or the Federal Reserve Board under the Bank Holding Company Act of 1956 (the BHCA), as amended. As a state-chartered, commercial bank, the deposits of S&T Bank are insured by the Federal Deposit Insurance Corporation (FDIC), S&T Bank is subject to the supervision and regulation of the Pennsylvania Department of Banking (PADB) and the FDIC. In addition, S&T Bank is subject to affiliate transaction rules in Sections 23A and 23B of the Federal Reserve Act. In connection with its lending activities, S&T Bank is subject to various federal laws designed to protect borrowers and promote lending to various sectors of the economy and population. These include the Equal Credit Opportunity Act, the Truth-in-Lending Act, the Home Mortgage Disclosure Act, the Real Estate Settlement Procedures Act, the Fair Credit Reporting Act, and the Community Reinvestment Act. S&T Bank is subject to the Bank Secrecy Act, its implementing regulations and other anti-money laundering laws and regulations, including the USA Patriot Act of 2001. History S&T Bancorp, Inc. was founded in 1902.