S&T BANCORP ANNOUNCES EXTENSION OF SHARE REPURCHASE PLAN

INDIANA, Pa., Jan. 25, 2023 /PRNewswire/ -- The Board of Directors of S&T Bancorp, Inc. (S&T) (NASDAQ: STBA), the holding company for S&T Bank with operations in Pennsylvania and Ohio authorized an extension of its $50 million share repurchase plan, which was set to expire on March 31, 2023, at its regular meeting held January 25, 2023. This repurchase authorization permits S&T to repurchase shares of S&T's common stock through a combination of open market and privately negotiated repurchases up to the previously authorized $50 million in aggregate value. The plan has $29.8 million of remaining capacity and will expire on March 31, 2024. 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, legal and contractual requirements, and S&T's financial performance. The repurchase plan does not obligate S&T to repurchase any particular number of shares. S&T expects to fund any repurchases from cash on hand and internally generated funds. Any share repurchases will not begin until permissible under applicable laws.