S&T Bancorp, Inc. Completes Acquisition of IBT Bancorp, Inc.
June 09 2008 - 8:45AM
PR Newswire (US)
INDIANA, Pa., June 9 /PRNewswire-FirstCall/ -- S&T Bancorp,
Inc. (NASDAQ:STBA) has completed the previously announced
acquisition of IBT Bancorp, Inc. (AMEX:IRW). With the merger
complete, S&T Bancorp, Inc. now has combined assets of more
than $4.3 billion and 55 branch offices in Pennsylvania. (Logo:
http://www.newscom.com/cgi-bin/prnh/20070917/NEM099LOGO ) "We are
pleased that S&T Bancorp, Inc. has completed this acquisition
of IBT Bancorp, Inc., and it is our pleasure to officially welcome
Irwin Bank customers to the S&T Bank family," said Todd Brice,
President and CEO of S&T Bancorp, Inc. "Over the next several
months, we plan on introducing ourselves to these new customers and
demonstrating to them how this merger will provide them with an
expanded array of financial products and services designed to meet
all of their banking needs." Irwin Bank customers began receiving
S&T Bank Welcome Kits in the mail last month detailing the
merger and how S&T Bank would execute the transition of
customer accounts. The kit included answers to frequently asked
questions and directed Irwin Bank customers to newly created Web
pages at http://www.stbank.com/, where more information is
available. In December 2007, S&T Bancorp, Inc. and IBT Bancorp,
Inc. jointly announced the signing of a definitive merger agreement
pursuant to which S&T Bancorp, Inc. would acquire IBT Bancorp,
Inc. in a stock and cash transaction. On May 13, 2008, the IBT
Bancorp, Inc. shareholders approved and adopted the Agreement and
Plan of Merger, dated December 16, 2007. About S&T Bancorp,
Inc. Headquartered in Indiana, PA, S&T Bancorp, Inc. operates
55 offices within Allegheny, Armstrong, Blair, Butler, Cambria,
Clarion, Clearfield, Indiana, Jefferson and Westmoreland counties.
With assets of $4.3 billion, S&T Bancorp, Inc. stock trades on
the NASDAQ Global Select Market under the symbol STBA. For more
information, visit http://www.stbank.com/.
http://www.newscom.com/cgi-bin/prnh/20070917/NEM099LOGO
http://photoarchive.ap.org/ DATASOURCE: S&T Bancorp, Inc.
CONTACT: Rob Jorgenson of S&T Bancorp, Inc., +1-724-465-5448
Web site: http://www.stbank.com/
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