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S&T BANCORP REPORTS THIRD QUARTER EARNINGS

 S&T BANCORP REPORTS THIRD QUARTER EARNINGS
 INDIANA, Pa., Oct. 20 /PRNewswire/ -- S&T Bancorp, Inc.


(NASDAQ-NMS: STBA) today announced earnings of $3.8 million for the third quarter of 1992, exceeding the comparable 1991 period by 25 percent.
 Earnings per share increased to $0.68 vs. $0.55 for the same quarter in 1991. For the nine months ending Sept. 30, 1992, earnings increased 25 percent to $10.5 million, while earnings per share rose to $1.87 from $1.50.
 Net interest income for the third quarter of 1992 exceeded the comparable 1991 period by 20 percent. Robert D. Duggan, president and chief executive officer of S&T Bancorp, Inc., attributes this strong quarterly earnings performance to higher levels of earning assets and a reduced cost of funds, as deposits continue to be repriced at lower market rates. The increase in the earning asset base was the result of an increase in loan volume of $61 million or 10 percent from Sept. 30, 1991. Total loans on Sept. 30, 1992, were $659 million, which also represents a 7 percent increase over the Dec. 31, 1991, amount. "While the economic recovery continues to be slow, S&T has been encouraged by its increase in loan demand, primarily in its commercial loans and residential mortgages. Commercial loan increases have resulted from an expanded calling effort in Allegheny and Westmoreland counties. In addition, several new mortgage products are beginning to increase our residential mortgage volume," Duggan said.
 Total assets at Sept. 30, 1992, were $1.1 billion, representing an 18 percent increase over the Sept. 30, 1991, balances. Equity capital was $106.1 million, raising S&T's equity/asset ratio to 9.6 percent and total risk-based capital to 17.3 percent. Book value per share increased to $18.94 at Sept. 30, 1992, and adjusted book value per share for the pre-tax unrealized appreciation in equities in the S&T Investment Company was $21.33.
 Duggan added that maintaining excellent asset quality and a healthy reserve for possible loan losses continue to be one of S&T's highest priorities. At Sept. 30, 1992, nonperforming loans were $4.1 million or 0.62 percent of total loans. For the nine months ending Sept. 30, 1992, net charge-offs to average loans declined to 0.47 percent from 0.82 percent for the first nine months of 1991. The allowance for loan losses totaled $11.1 million or 275 percent of nonperforming loans and 1.69 percent of total loans at Sept. 30, 1992. Duggan said, "In view of the slow economic recovery and our recent loan growth, we deemed it prudent to provide increases to our loan loss reserve. The loan loss provision for the third quarter was $1.4 million and $4.1 million for the nine months compared with the $.8 million and $2.4 million for the respective periods in 1991."
 Return on assets for the quarter was 1.38 percent and the return on equity was 14.43 percent. The efficiency ratio also continued to improve and was 50.1 percent for the three month period. "Given the strength of our balance sheet, net interest margin trends and improved efficiency, the positive earning trends for the nine months should continue through the fourth quarter," Duggan said.
 S&T Bancorp's principal subsidiary, S&T Bank, operates 33 offices in Allegheny, Armstrong, Clearfield, Indiana, Jefferson and Westmoreland counties. S&T Bancorp, Inc., stock trades on the NASDAQ National Market System under the symbol STBA.
 -0- 10/20/92
 /CONTACT: Jim Barone of S&T Bancorp, 412-465-1417/
 (STBA) CO: S&T Bancorp, Inc.; S&T Bank ST: Pennsylvania IN: FIN SU: ERN


CD-LJ -- PG007 -- 2031 10/20/92 09:05 EDT
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Date:Oct 20, 1992
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