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Press release content from PR Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from PR Newswire
Press release content from PR Newswire. The AP news staff was not involved in its creation.

S&T BANK ANNOUNCES $15 PER HOUR BASE PAY RATE ADJUSTMENT FOR EMPLOYEES

December 22, 2021 GMT

INDIANA, Pa., Dec. 22, 2021 /PRNewswire/ -- S&T Bank today announced it will raise its base pay rate to $15 per hour for all positions, effective January 2022, furthering its longstanding commitment to workforce development and to creating opportunities in the communities it serves.

“I am extremely proud and grateful of the efforts from our team members who are our most valuable resource,” said Chris McComish, chief executive officer. “This adjustment is just one way we are investing in our people.”

As some pay compression will result from the base rate increase, S&T has taken additional steps and will continue to implement measures to recognize and reward tenured employees that continue to serve our customers and support the strategic initiatives of the bank. In total 501 employees, or approximately 43% of S&T’s workforce, will receive an adjustment.

Rather than simply providing jobs, S&T is proud to offer its employees careers. The base rate increases along with our comprehensive total compensation, which includes employee benefit plans, 401(k) contribution, workplace flexibility, paid time off, paid time for community involvement, education and training opportunities, as well as tuition reimbursement programs distinguish S&T in the market allowing the bank to attract and retain top talent.

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For more information about S&T Bank, please visit stbank.com.

About S&T Bancorp, Inc. and S&T Bank
S&T Bancorp, Inc. is a $9.4 billion bank holding company that is headquartered in Indiana, Pennsylvania and trades on the NASDAQ Global Select Market under the symbol STBA. Its principal subsidiary, S&T Bank was established in 1902 and operates in five markets including Western Pennsylvania, Eastern Pennsylvania, Northeast Ohio, Central Ohio, and Upstate New York. For more information visit stbancorp.com or stbank.com. Follow us on Facebook, Instagram, and LinkedIn.

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SOURCE S&T Bancorp, Inc.