{"id":516277,"date":"2021-07-22T07:34:03","date_gmt":"2021-07-22T11:34:03","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/st-bancorp-inc-announces-second-quarter-2021-net-income\/"},"modified":"2021-07-22T07:34:03","modified_gmt":"2021-07-22T11:34:03","slug":"st-bancorp-inc-announces-second-quarter-2021-net-income","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/st-bancorp-inc-announces-second-quarter-2021-net-income\/","title":{"rendered":"S&T Bancorp, Inc. Announces Second Quarter 2021 Net Income"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n INDIANA<\/span>, Pa., July 22, 2021<\/span> \/PRNewswire\/ —\u00a0S&T Bancorp, Inc. (S&T) (NASDAQ: STBA), the holding company for S&T Bank, with operations in five markets including Western Pennsylvania<\/span>, Eastern Pennsylvania<\/span>, Northeast Ohio<\/span>, Central Ohio<\/span> and Upstate New York, announced net income of $28.4 million<\/span>, or $0.72<\/span> per diluted share, for the second quarter of 2021 compared to net income of $31.9 million<\/span>, or $0.81<\/span> per diluted share, for the first quarter of 2021, and a net loss of ($33.1) million<\/span>, or ($0.85)<\/span> per diluted share, for the second quarter of 2020. A loss of $58.7 million<\/span> was recognized during the second quarter of 2020 related to a customer fraud resulting from a check kiting scheme. This fraud loss reduced net income by $46.3 million<\/span>, or $1.19<\/span> per diluted share, resulting in a net loss for the second quarter of 2020. <\/p>\n

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\n New Chief Executive Officer <\/b>\n <\/p>\n

\n Christopher J. McComish<\/span> has been appointed as the company’s chief executive officer, effective August 23, 2021<\/span>. Chris McComish<\/span> has over 30 years of financial service experience, providing executive leadership to consumer banking, commercial banking, and wealth management businesses. He has a strong track record of driving growth and transformation while enhancing both digital and human customer engagement. Most recently, Chris served as senior executive vice president of TCF Bank, leading all consumer banking lines of business as well as business banking and wealth management. Prior to TCF, he served as president and CEO of Scottrade Bank, the banking subsidiary of Scottrade Financial Services, Inc. In addition, he served as the head of personal banking and then as chief operating officer for personal and commercial banking at BMO Harris Bank. He began his career at Wachovia Bank, where he spent over 20 years in various regional and line of business leadership roles.<\/p>\n

“I am honored to have the opportunity to partner with Chris to lead this great organization,” said David Antolik<\/span>, president and interim chief executive officer. “Chris’s experience in executive leadership roles in banking combined with my 30 plus years of\u00a0 experience at S&T puts us in a position of strength to move our company forward.”<\/p>\n

\n Second Quarter of 2021 Highlights<\/b>:<\/p>\n