S&T Bancorp (STBA) 8-K S&T Bancorp, Inc. Announces First Quarter Earnings

Exhibit 99.1

FOR IMMEDIATE RELEASE	Contact: Mark Kochvar
April 23, 2012	Chief Financial Officer
	724-465-4826

S&T Bancorp, Inc. Announces First Quarter Earnings

Indiana, Pennsylvania – S&T Bancorp, Inc. (NASDAQ: STBA), a full-service financial institution with office locations in 10 Pennsylvania counties, has announced its first quarter 2012 earnings.

Todd D. Brice, president and chief executive officer of S&T Bancorp, Inc., offered the following highlights:

• Net income available to common shareholders was $3.5 million compared to $9.3 million in the fourth quarter of 2011 and $4.7 million in the first quarter of 2011 with diluted earnings per common share of $0.12 compared to $0.33 in the fourth quarter of 2011 and $0.17 in the first quarter of 2011.

• The merger with Mainline Bancorp, Inc. was completed in the first quarter of 2012. First quarter 2012 results include $3.9 million or $0.11 per share of one-time merger related expenses.

• On March 30, 2012 S&T Bancorp, Inc. announced the signing of a definitive merger agreement to acquire Gateway Bank of Pennsylvania.

“In the first quarter of 2012, we made several definitive moves to position ourselves for growth in the marketplace. We are very excited about the seamless closing and conversion of Mainline Bank and the announcement of our pending merger with Gateway Bank,” said Brice. “We have also applied additional resources to lines of business that show potential for growth, such as insurance and wealth management. Our first quarter results demonstrate that those investments are paying off.”

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S&T Earnings Release - 2

S&T Bancorp, Inc. Announces First Quarter Earnings (continued)

Merger Activity

The first quarter of 2012 included one-time merger related expenses of $3.9 million, or $0.11 per share. This is in addition to one-time merger related expenses incurred in 2011 of $0.3 million. Both the holding company merger and the bank merger were completed on March 9, 2012, and the systems conversion occurred over the following weekend. Eight Mainline locations opened on March 12, 2012 as S&T Bank branches, adding approximately $130 million of loans and $205 million of deposits.

On March 30, 2012, S&T Bancorp, Inc. announced plans to merge with Gateway Bank of Pennsylvania. The in-market cash and stock deal is expected to close in the third quarter of 2012, and will expand S&T’s existing footprint in the northern and southern suburbs of Pittsburgh. Gateway has assets of $120 million and has two branches, including the headquarters branch in McMurray as well as a branch in Cranberry Township.

Net Interest Income

Net interest income and net interest margin on a fully taxable equivalent (FTE) basis decreased from the prior quarter and the last year quarter due to a continued shift in asset mix from loans to lower yielding securities and cash combined with lower loan rates on new business. Net interest income for the first quarter of 2012 declined to $34.5 million from $35.2 million in the fourth quarter of 2011 as the net interest margin decreased by 10 bps to 3.69%. Average loans increased by $9.4 million from the fourth quarter of 2011, however, this includes the first quarter impact of the Mainline merger of approximately $33.4 million in average loans. The decrease in average loans not including the Mainline merger is due to a continued high level of loan payoffs despite increases in new activity and an improving loan pipeline.

Asset Quality

Asset quality metrics exhibited some weakness this quarter, especially in the construction portfolio. Net charge-offs for the first quarter of 2012 were up significantly to $10.3 million, compared to $5.0 million in the fourth quarter of 2011 and only $0.4 million in

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S&T Earnings Release - 3

S&T Bancorp, Inc. Announces First Quarter Earnings (continued)

the first quarter of 2011. Over half of the net charge-offs this quarter were related to construction projects that have experienced slowdowns and lower values on updated appraisals. Nonperforming assets increased to $67.9 million or 2.12% of total loans plus OREO compared to $60.1 million or 1.92% in the fourth quarter of 2011. The longer term asset quality trends continue to be positive, as nonperforming assets are down from $88.5 million or 2.67% in the first quarter of 2011. The provision for loan losses increased in the first quarter of 2012 to $9.3 million from $2.3 million in the fourth quarter of 2011, but is down from $10.6 million in the first quarter of 2011. The allowance for loan losses at March 31, 2011 was $47.8 million or 1.49% of total loans including acquired Mainline loans. This is little changed from the $48.8 million or 1.56% at December 31, 2011, but is down from $61.7 million or 1.87% at March 31, 2011.

Noninterest Income and Expense

Noninterest income showed improvement over both the fourth quarter of 2011 and the first quarter of 2011 due in large part to increases in Wealth Management and Insurance, as new producers have been added in both of these lines of business. Mortgage banking activity, which is included in Other Noninterest Income, improved in the second half of 2011 as rates declined, and has remained strong through the first quarter of 2012.

Noninterest expense was elevated in the first quarter of 2012 primarily due to the aforementioned one-time merger related expenses of $3.9 million. Salaries and Benefits includes one-time merger related expenses of $1.7 million and were also higher compared to the fourth quarter of 2011 due to annual merit increases of $0.4 million, higher pension expense of $0.5 million and higher payroll expense of $0.7 million, which is typically higher in the first quarter. Data Processing in the first quarter of 2012 included the buyout of Mainline’s remaining contract and Other Noninterest Expense included marketing and various professional expenses related to the merger. Also included in Other is an increase in the unfunded commitment reserve of $0.3 million compared to a decline of $0.5 million in the fourth quarter of 2011.

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S&T Earnings Release - 4

S&T Bancorp, Inc. Announces First Quarter Earnings (continued)

Financial Condition

The size of the balance sheet increased over the fourth quarter of 2011 to $4.3 billion in total assets from $4.1 billion due to the merger with Mainline, which added $130 million of loans and $205 million of deposits.

S&T’s capital ratios were little changed due to the merger and flat retained earnings from modest net income. All capital ratios remain significantly above the well-capitalized thresholds of federal bank regulatory agencies with a tier 1 leverage capital ratio of 9.20%, tier 1 risk-based capital ratio of 11.62% and total risk-based capital ratio of 15.14%. With the redemption of the $108.7 million of preferred stock from the U.S. Department of Treasury’s Capital Purchase Program in the fourth quarter of 2011, S&T paid no preferred stock dividends in the first quarter of 2012, an after tax improvement of almost $1.6 million this quarter.

About S&T Bancorp, Inc.

Headquartered in Indiana, PA, S&T Bancorp, Inc. operates 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 System under the symbol STBA. For more information, visitwww.stbancorp.com.

This information may contain forward-looking statements regarding future financial performance which are not historical facts and which involve risks and uncertainties. Actual results and performance could differ materially from those anticipated by these forward-looking statements. Factors that could cause such a difference include, but are not limited to, general economic conditions, change in interest rates, deposit flows, loan demand, asset quality, including real estate and other collateral values and competition. In addition to the results of operations presented in accordance with Generally Accepted Accounting Principles (GAAP), S&T management uses and this press release contains or references, certain non-GAAP financial measures, such as net interest income on a fully taxable equivalent basis. S&T believes these non-GAAP financial measures provide information useful to investors in understanding our underlying operational performance and our business and performance trends as they facilitate comparisons with the performance of others in the financial services industry. Although S&T believes that these non-GAAP financial measures enhance investors’ understanding of S&T’s business and performance, these non-GAAP financial measures

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S&T Earnings Release - 5

S&T Bancorp, Inc. Announces First Quarter Earnings (continued)

should not be considered an alternative to GAAP. A reconciliation of these non-GAAP financial measures is presented in the attached financial data spreadsheet. This information should be read in conjunction with the audited financial statements and analysis as presented in the Annual Report on Form 10-K for S&T Bancorp, Inc. and subsidiaries.

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S&T Earnings Release - 6

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited

(in thousands, except per share data)

	2012		2011		2011
	First		Fourth		First
	Quarter		Quarter		Quarter
Income Statements
Interest Income	$	39,140	$	40,258	$	42,192
Interest Expense		5,819		6,192		7,320
Net Interest Income		33,321		34,066		34,872
Taxable Equivalent Adjustment		1,129		1,101		1,038
Net Interest Income (FTE)		34,450		35,167		35,910
Provision For Loan Losses		9,272		2,336		10,640
Net Interest Income After Provisions (FTE)		25,178		32,831		25,270
Security Gains (Losses), Net		840		—		13
Service Charges and Fees		2,408		2,622		2,404
Wealth Management		2,419		2,021		2,050
Insurance		2,212		1,809		2,132
Other		5,190		5,122		4,427
Total Noninterest Income		12,229		11,574		11,013
Salaries and Employee Benefits		16,472		13,446		13,320
Occupancy and Equipment Expense, Net		3,022		2,831		3,048
Data Processing Expense		3,240		1,925		1,504
FDIC Expense		608		678		1,226
Other		9,441		7,792		8,351
Total Noninterest Expense		32,783		26,672		27,449
Income Before Taxes		5,464		17,733		8,847
Taxable Equivalent Adjustment		1,129		1,101		1,038
Applicable Income Taxes		855		4,376		1,514
Net Income		3,480		12,256		6,295
Preferred Stock Dividends and Discount Amortization		—		2,939		1,555
Net Income Available to Common Shareholders	$	3,480	$	9,317	$	4,740
Per Common Share Data:
Shares Outstanding at End of Period		28,873,043		28,131,249		28,033,757
Average Shares Outstanding - Diluted		28,272,568		28,068,064		27,957,002
Diluted Earnings Per Common Share *	$	0.12	$	0.33	$	0.17
Dividends Declared	$	0.15	$	0.15	$	0.15
Common Book Value	$	17.47	$	17.44	$	16.90
Tangible Common Book Value(1)	$	11.32	$	11.36	$	10.76
Market Value	$	21.69	$	19.55	$	21.57

* Diluted earnings per share under the two-class method is determined on the net income reported on the income statement less earnings allocated to participating securities.

S&T Earnings Release - 7

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited

(in thousands)

	2012				2011				2011
	First				Fourth				First
	Quarter				Quarter				Quarter
Net Interest Margin (FTE) (Quarterly Averages)
Assets
Loans	$	3,135,517	4.74	%	$	3,126,126	4.83	%	$	3,324,606	4.92	%
Securities/Other		612,791	2.12	%		562,541	2.32	%		384,796	3.02	%
Total Interest-earning Assets		3,748,308	4.31	%		3,688,667	4.45	%		3,709,402	4.72	%
Noninterest-earning Assets		395,577				381,191				378,012
Total Assets	$	4,143,885			$	4,069,858			$	4,087,414
Liabilities and Shareholders’ Equity
Now/Money Market/Savings	$	1,401,848	0.18	%	$	1,338,276	0.14	%	$	1,295,224	0.18	%
Certificates of Deposit		1,132,687	1.46	%		1,135,517	1.64	%		1,231,162	1.81	%
Borrowed Funds < 1 Year		112,944	0.20	%		41,261	0.11	%		42,582	0.14	%
Borrowed Funds > 1 Year		122,214	3.32	%		122,660	3.21	%		119,736	4.21	%
Total Interest-bearing Liabilities		2,769,693	0.84	%		2,637,714	0.93	%		2,688,704	1.10	%
Noninterest-bearing Liabilities
Demand Deposits		809,464				800,188				767,581
Shareholders’ Equity/Other		564,728				631,956				631,129
Total Noninterest-bearing Liabilities		1,374,192				1,432,144				1,398,710
Total Liabilities and Shareholders’ Equity	$	4,143,885			$	4,069,858			$	4,087,414
Net Interest Margin			3.69	%			3.79	%			3.92	%

S&T Earnings Release - 8

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited

(in thousands)

	2012					2011					2011
	First					Fourth					First
	Quarter					Quarter					Quarter
Balance Sheets (Period-End)
Assets
Cash	$	53,838				$	61,723				$	108,855
Securities/Other		715,636					584,615					352,783
Loans, Net		3,153,616					3,083,768					3,242,658
Other Assets		407,885					389,888					385,758
Total Assets	$	4,330,975				$	4,119,994				$	4,090,054
Liabilities and Shareholders’ Equity
Noninterest-bearing Demand Deposits	$	860,108				$	818,686				$	802,748
Interest-bearing Deposits		2,662,247					2,517,173					2,503,091
Short-term Borrowings		115,638					105,370					38,270
Long-term Debt		122,045					122,493					119,593
Other Liabilities		66,519					65,746					46,237
Shareholders’ Equity		504,418					490,526					580,115
Total Liabilities and Shareholders’ Equity	$	4,330,975				$	4,119,994				$	4,090,054
	2012					2011					2011
	First					Fourth					First
	Quarter					Quarter					Quarter
Loans (Period-End)
Consumer
Home Equity	$	441,648				$	411,404				$	436,357
Residential Mortgage		382,884					358,846					342,904
Installment & Other Consumer		82,223					67,131					70,573
Construction		2,211					2,440					4,322
Total Consumer Loans		908,966					839,821					854,156
Commercial
Commercial Real Estate		1,416,663					1,415,333					1,488,700
Commercial & Industrial		703,112					685,753					713,683
Construction		169,039					188,852					245,477
Total Commercial Loans		2,288,814					2,289,938					2,447,860
Total Portfolio Loans		3,197,780					3,129,759					3,302,016
Loans Held for Sale		3,663					2,850					2,305
Total Loans	$	3,201,443				$	3,132,609				$	3,304,321
			% NPL					% NPL					% NPL
Nonperforming Loans (NPL)
Consumer
Home Equity	$	3,490		0.79	%	$	2,936		0.71	%	$	1,858		0.43	%
Residential Mortgage		8,260		2.16	%		7,228		2.01	%		5,337		1.56	%
Installment & Other Consumer		27		0.03	%		4		0.01	%		25		0.04	%
Construction		181		8.19	%		181		7.42	%		—		—
Total Consumer Loans		11,958		1.32	%		10,349		1.23	%		7,220		0.85	%
Commercial
Commercial Real Estate		32,816		2.32	%		31,648		2.24	%		57,189		3.84	%
Commercial & Industrial		8,269		1.18	%		7,571		1.10	%		9,081		1.27	%
Construction		11,460		6.78	%		6,547		3.47	%		7,356		3.00	%
Total Commercial Loans		52,545		2.30	%		45,766		2.00	%		73,626		3.01	%
Total Nonperforming Loans	$	64,503		2.02	%	$	56,115		1.79	%	$	80,846		2.45	%

S&T Earnings Release - 9

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited

(in thousands)

	2012						2011					2011
	First						Fourth					First
	Quarter						Quarter					Quarter
Construction and Commercial Real Estate (CRE) PA vs. Out-of-State
Pennsylvania	$	1,305,367					$	1,301,211				$	1,375,688
Out-of-State		280,335						302,974					358,489
Total Construction and CRE PA vs. Out-of-State	$	1,585,702					$	1,604,185				$	1,734,177
			% NPL						% NPL					% NPL
Construction and CRE - NPL PA vs. Out-of-State
Pennsylvania	$	37,623		2.88	%		$	33,665		2.59	%	$	43,799		3.18	%
Out-of-State		6,653		2.37	%			4,530		1.50	%		20,746		5.79	%
Total Construction and CRE - NPL PA vs. Out-of-State	$	44,276		2.79	%		$	38,195		2.38	%	$	64,545		3.72	%
	2012						2011					2011
	First						Fourth					First
	Quarter						Quarter					Quarter
Construction and CRE by Type
Retail/Strip Malls	$	290,023					$	288,453				$	297,339
Offices		203,483						218,619					226,163
Hotels		194,658						193,833					194,543
Residential Rental Properties		182,941						198,011					237,879
Healthcare/Education		104,104						105,642					108,472
Manufacturing/Industrial/Warehouse		102,095						95,883					117,857
Real Estate Development - Commercial		95,053						102,623					93,301
Flex/Mixed Use		90,130						97,766					113,483
Real Estate Development - Residential		54,660						60,808					81,956
Recreational		41,557						43,152					44,118
Restaurant		29,873						29,921					39,814
Convenience Stores		28,919						29,489					26,377
Miscellaneous		168,206						139,985					152,875
Total Construction and CRE by Type	$	1,585,702					$	1,604,185				$	1,734,177
	2012						2011					2011
	First						Fourth					First
	Quarter						Quarter					Quarter
			% NPL						% NPL					% NPL
Construction and CRE - NPL by Type
Retail/Strip Malls	$	3,262		1.12	%		$	5,285		1.83	%	$	3,031		1.02	%
Offices		3,973		1.95	%			3,973		1.82	%		2,768		1.22	%
Hotels		700		0.36	%			700		0.36	%		13,585		6.98	%
Residential Rental Properties		3,595		1.97	%			2,851		1.44	%		10,971		4.61	%
Healthcare/Education		598		0.57	%			311		0.29	%		818		0.75	%
Manufacturing/Industrial/Warehouse		4,596		4.50	%			4,638		4.84	%		3,592		3.05	%
Real Estate Development - Commercial		2,782		2.93	%			771		0.75	%		5,968		6.40	%
Flex/Mixed Use		62		0.07	%			—		—			2,388		2.10	%
Real Estate Development - Residential		8,844		16.18	%			6,284		10.33	%		6,073		7.41	%
Recreational		10,402		25.03	%			9,365		21.70	%		9,334		21.16	%
Restaurant		1,863		6.24	%			940		3.14	%		4,070		10.22	%
Convenience Stores		73		0.25	%			—		—			—		—
Miscellaneous		3,526		2.10	%			3,077		2.20	%		1,947		1.27	%
Total Construction and CRE - NPL by Type	$	44,276		2.79	%		$	38,195		2.38	%	$	64,545		3.72	%
						��

S&T Earnings Release - 10

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited

(in thousands)

	2012		2011		2011
	First		Fourth		First
	Quarter		Quarter		Quarter
Commercial Credit Exposure
Pass
Commercial Real Estate	$	1,244,497	$	1,229,005	$	1,250,149
Commercial & Industrial		613,393		600,895		610,750
Construction		122,277		136,270		201,984
Total Pass	$	1,980,167	$	1,966,170	$	2,062,883
Special Mention
Commercial Real Estate	$	71,342	$	84,400	$	98,780
Commercial & Industrial		34,295		33,135		57,460
Construction		14,135		17,106		10,534
Total Special Mention	$	119,772	$	134,641	$	166,774
Substandard
Commercial Real Estate	$	100,824	$	101,928	$	139,771
Commercial & Industrial		55,424		51,723		45,473
Construction		32,627		35,476		32,959
Total Substandard	$	188,875	$	189,127	$	218,203

S&T Earnings Release - 11

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited

(in thousands)

	2012			2011			2011
	First			Fourth			First
	Quarter			Quarter			Quarter
Asset Quality Data
Nonperforming Loans	$	64,503		$	56,115		$	80,846
Assets Acquired through Foreclosure or Repossession		3,371			3,967			7,696
Nonperforming Assets		67,874			60,082			88,542
Troubled Debt Restructurings (Nonaccrual)		22,963			18,184			35,665
Troubled Debt Restructurings (Accruing)		41,189			49,716			8,500
Total Troubled Debt Restructurings		64,152			67,900			44,165
Allowance for Loan Losses		47,827			48,841			61,663
Nonperforming Loans / Loans		2.01	%		1.79	%		2.45	%
Nonperforming Assets / Loans plus OREO		2.12	%		1.92	%		2.67	%
Allowance for Loan Losses / Loans		1.49	%		1.56	%		1.87	%
Allowance for Loan Losses / Nonperforming Loans		74	%		87	%		76	%
Net Loan Charge-offs (Recoveries)		10,286			5,028			364
Net Loan Charge-offs (Recoveries) (Annualized) / Average Loans		1.32	%		0.64	%		0.04	%
Profitability Ratios (Annualized)
Common Return on Average Assets		0.34	%		0.91	%		0.47	%
Common Return on Average Tangible Assets (2)		0.35	%		0.95	%		0.49	%
Common Return on Average Equity		2.82	%		6.41	%		3.31	%
Common Return on Average Tangible Common Equity(3)		4.31	%		11.29	%		6.35	%
Efficiency Ratio (FTE)(4)		70.23	%		57.06	%		58.50	%
Capitalization Ratios
Dividends Paid to Net Income		121.26	%		45.25	%		88.46	%
Common Equity / Assets		11.65	%		11.91	%		11.58	%
Tier 1 Leverage Ratio		9.20	%		9.17	%		11.19	%
Risk-Based Capital - Tier 1		11.62	%		11.63	%		13.54	%
Risk-Based Capital - Total		15.14	%		15.20	%		16.99	%
Tangible Common Equity / Tangible Assets (5)		7.87	%		8.09	%		7.70	%

S&T Earnings Release - 12

S&T Bancorp, Inc.

Consolidated Selected Financial Data

Unaudited

	2012			2011			2011
	First			Fourth			First
	Quarter			Quarter			Quarter
Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures:
(1)       Tangible Common Book Value
Common Book Value (GAAP Basis)	$	17.47		$	17.44		$	16.90
Effect of Excluding Intangible Assets		(6.15	)		(6.08	)		(6.14	)
Tangible Common Book Value	$	11.32		$	11.36		$	10.76
(2)       Common Return on Average Tangible Assets
Common Return on Average Assets (GAAP Basis)		0.34	%		0.91	%		0.47	%
Effect of Excluding Intangible Assets		0.01	%		0.04	%		0.02	%
Common Return on Average Tangible Assets		0.35	%		0.95	%		0.49	%
(3)       Common Return on Average Tangible Common Equity
Common Return on Average Common Equity (GAAP Basis)		2.82	%		6.41	%		3.31	%
Effect of Excluding Intangible Assets		1.49	%		2.17	%		1.65	%
Effect of Excluding Preferred Stock		0.00	%		2.71	%		1.39	%
Common Return on Average Tangible Common Equity		4.31	%		11.29	%		6.35	%
(4)       Noninterest expense divided by noninterest income plus net interest income, on a fully taxable equivalent basis.
(5)       Tangible Common Equity / Tangible Assets
Common Equity / Assets (GAAP Basis)		11.65	%		11.91	%		11.58	%
Effect of Excluding Intangible Assets		-3.78	%		-3.82	%		-3.88	%
Tangible Common Equity / Tangible Assets		7.87	%		8.09	%		7.70	%