S&T Bancorp Inc., holding company for Indiana-based S&T Bank, announced that its board of directors, meeting Wednesday, authorized a new $100 million share repurchase program.
Bank officials said the new program will replace the existing share repurchase program effective Monday, and is set to expire Aug. 31, 2027.
The remaining capacity under an existing share repurchase program was terminated.
Bank officials said this authorization permits S&T to repurchase shares of S&T’s common stock from time to time through a combination of open market and privately negotiated repurchases up to the authorized $100 million aggregate value of S&T’s common stock.
The specific timing, price and quantity of repurchases will be at the discretion of S&T and will depend on a variety of factors, including general market conditions, the trading price of the common stock, applicable securities laws and other legal and contractual requirements, as well as S&T’s financial performance.
Meanwhile, S&T Bancorp Inc. announced net income of $36.6 million for the second quarter of 2026 compared to $35.1 million for the first quarter of 2026 and $31.9 million for the second quarter of 2025.
Bank officials said diluted earnings per share was $1.02 for the second quarter of 2026, an increase of 8 cents, or 8.5%, compared to 94 cents for the first quarter of 2026 and an increase of 19 cents, or 22.9%, compared to 83 cents for the second quarter of 2025.
