S&T Bank is headquartered in Indiana and is the 11st largest bank in the state of Pennsylvania. It is also the 185th largest bank in the nation. It was established in 1902 and as of September of 2013, it had grown to 955 employees at 59 locations. S&T Bank has a A+ health rating.
Gateway Bank, a small local bank, has now become S&T Bank. It has been a very rough transition, to say the least. We used Gateway Bank for our law office banking, and I had a personal checking and home equity loan there. Let's start with our office's experience. We were never provided with the folder of information to help through the transition, and were only given a week's notice of when S&T would go "live" with our accounts. The customer service reps at S&T bank seemed to appear indignant that we were not totally prepared, even though they hadn't gotten the information to us to prepare, i.e., with our payroll service, nor did they offer to assist with this process, and indicated they were "hopeful" our first paychecks would clear. This left our employees unsure as to whether their paychecks would be processed in a timely fashion. Luckily, they were. My personal experience was setting up my online banking. I tried it three times, unsuccessfully, and eventually called the dreaded customer service number. After being on hold for a while, the rep did get me into the online banking system, and I asked her what I had done wrong. She said I had done nothing wrong, but it's very common to have to call in to have them do the last step. I asked why they didn't reveal that little gem of information online, and she said it's because some customers don't have to call to get it working. Now I look at my home equity loan statement, and there was more interest applied (as opposed to principal) than when I first got the loan! Back to the dreaded customer service line. I'm now waiting for a return call with an explanation. Think I'll get one??? My next call is to First National Bank to get my home equity loan refinanced--away from S&T!
I was a Peoples Bank of Unity customer all my life. Then about 20 years ago S&T bought People Bank and I continued there. Now that I do so much online banking I'm seeing there's constantly a realignment of debits. We are paycheck to paycheck people. We always pay our bills, but sometimes things come up or one of us uses the debit card and forgets to mark something. I've noticed a number of times when I look at our balance on a Thursday night...maybe 11:00 p.m. there is a positive balance. Paychecks typically come in sometime in the early hours Friday morning. When I look at 6 a.m. to be sure paychecks are in I'll see that there is an overdraft fee for something (now this doesn't happen all the time, but maybe once a year). Then I'll look later and see multiple overdraft fees. I'll notice that the largest payment has been moved down and smaller, less significant payments are moved up. They cover the largest first (with the nonsense line that "it's the most important so it's covered first" ) Instead of one overdraft fee I've had up to five. I've questioned this practice. No help. No satisfaction. I've noticed that other banks have been sued for this practice. I'm waiting for S&T to be sued. In a time where people are having a very difficult time they are no help. Suddenly this past January we all suffered a tax increase that decreased our own pays by almost $200. They don't care. They have been no help.
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2013 S&T Bank had $35.95 million in non-current loans and owned real-estate with $586.31 million in equity and loan loss allowances on hand to cover it. This gives S&T Bank a Texas Ratio of 6.13% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for S&T Bank decreased dramatically from 12.05% as of September 30, 2012 to 6.13% as of September 30, 2013, resulting in a positive change of 49.13%.This indicates that the balance sheet and financial strength for S&T Bank has improved dramatically in recent periods.
In the past year, S&T Bank has increased its total deposits by $209.4 million, resulting in 5.98% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth S&T Bank has shown is excellent.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. S&T Bank has $4.57 billion in assets with $586.31 million in equity, resulting in a capitalization level of 12.84%, which is excellent.
|FDIC Certificate #||11124|
|Assets and Liabilities|
|Equity Capital||$538.33 million|
|Loan Loss Allowance||$47.98 million|
|Unbacked Noncurrent Loans||$35.49 million|
|Real Estate Owned||$460,000|
|Historic Data - September 2012|
|Equity Capital||$501.80 million|
|Loan Loss Allowance||$46.28 million|
|Unbacked Noncurrent Loans||$35.49 million|
|Real Estate Owned||$1.47 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.41%|
|Return on Assets||1.21%|
|Return on Equity||10.28%|
|Interest Income||$114.69 million|
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