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    S&T Bancorp Inc. Expanding

    By Patty Tascarella  – Senior Reporter, Pittsburgh Business Times

    Pittsburgh’s ninth-largest bank is expanding into southeastern Pennsylvania via acquisition that takes it into Chester, Delaware and Philadelphia counties.

    S&T Bancorp Inc. on Wednesday said it has a definitive agreement to acquire DNB Financial Corp. for $206 million.

    The all-stock transaction is expected to be completed in the fourth quarter, pending approvals, boosting S&T’s (Nasdaq:STBA) assets from $7.3 billion to $8.4 billion and branch network by about 25%.

    S&T, based in Indiana, Pennsylvania, about 45 miles east of Pittsburgh, is the ninth-largest bank in the 10-county metro according to deposit market share. Founded in 1902, it has about 60 branches.

    DNB is the holding company for DNB First, a 14-location community bank based in Downingtown.

    DNB shareholders will receive 1.22 shares of S&T stock for each share of DNB stock, according to a release issued late on Wednesday.

    Terms of the merger agreement have been unanimously approved by the boards of directors of both companies. The transaction is expected to be a tax-free exchange to the shareholders of DNB.

    S&T expects the merger to be accretive to earnings per share in 2020.

    “I am very pleased to announce our merger with DNB, a nearly 160-year-old institution which shares the values, culture and commitment to high quality customer service found at S&T Bank,” S&T CEO Todd Brice said in a prepared statement. “Merging with such a venerable institution located in a growing southeastern Pennsylvania market dovetails nicely with our expansion into the central Pennsylvania market in 2015, and our overall strategic growth strategy focused on Pennsylvania, Ohio and New York.”

    Keefe, Bruyette & Woods Inc. acted as the exclusive financial advisor to S&T and PNC FIG Advisory Inc. to DNB. Law firm Wachtell, Lipton, Rosen & Katz served as counsel to S&T and Stradley, Ronon, Stevens & Young to DNB.
  • Mon, 24 Jun 2019 09:30:00 -0400

    Tax payments due

    The deadline for Brush Valley Township residents to make 2019 county and township real estate and per capital tax payments at face value is Sunday.
  • Mon, 24 Jun 2019 09:30:00 -0400

    AFSCME meeting set

    AFSCME Retiree Subchapter 8301 will meet at the Indiana VFW, 824 Indian Springs Road, at 1 p.m. Thursday.
  • Sun, 23 Jun 2019 00:59:00 -0400

    Vote could bring clarity to building project

    The school tax for the coming year will have a rival Monday as the top item of business for the Indiana school board.
  • Sun, 23 Jun 2019 00:49:00 -0400

    New museum president introduced

    The Indiana County Chamber of Commerce held its monthly board of directors meeting Thursday at the Indiana Country Club.
  • Sun, 23 Jun 2019 00:49:00 -0400

    Basket Bingo and Luncheon Tea scheduled

    A Gal's Afternoon Out Basket Bingo & Luncheon Tea set for 1 to 4 p.m. July 14 at The Fountains at Indiana will benefit the Indiana County Humane Society. Admission is $20.
  • Sun, 23 Jun 2019 00:47:00 -0400

    Local agencies to hold public meetings

    Meetings of municipal governments, school boards and county governmental bodies scheduled this week are at the following times and locations:
  • Sun, 23 Jun 2019 00:44:00 -0400

    Human Service agencies offer programs

    Information for this column is provided by the Indiana County Department of Human Services.
  • Sun, 23 Jun 2019 00:44:00 -0400

    Social centers post activity schedules

    The schedules at the Aging Services Inc. social centers for the coming week:
  • Sun, 23 Jun 2019 00:00:00 -0400

    Grocer, state launch buy-local campaign

    The Pennsylvania Department of Agriculture is joining with 156 Giant and Martin’s food stores across Pennsylvania in what Secretary of Agriculture Russell Redding termed a groundbreaking buy-local campaign.
  • Sun, 23 Jun 2019 00:00:00 -0400

    3 Square Market opens in Indiana Mall

    A ribbon-cutting ceremony was held Thursday for 3 Square Market and Wi-Fi Café, which has moved into the former Windgate Winery location in the Indiana Mall. The market offers customers the opportunity to purchase a variety of food and drinks,…
  • Mon, 24 Jun 2019 17:27:07 +0000

    Geisinger, Central PA Food Bank honored for Fresh Food Farmacy collaboration

    Since launching the Fresh Food Farmacy in 2016, Geisinger and the Central Pennsylvania Food Bank have been working hand-in-hand to battle diabetes by supplying patients with food to help them better control their conditions. The collaboration has led to several honors for both organizations, most recently the 2019 Healthcare Supply Chainnovator Award. Presented to representatives of Geisinger’s Fresh Food Farmacy […]
  • Mon, 24 Jun 2019 17:21:39 +0000

    Loaded Creative of Bellefonte Earns Thirteen Creative Awards in Regional, National and International Marketing Communications Shows

    (BELLEFONTE, PA) — With longtime client Alpha Fire Company blazing a path through multiple shows, the Loaded Creative advertising agency received a baker’s dozen of awards for television, video, print, design, brand identity and campaign development work this spring. Anchored by a new television commercial and long-form video delivered across traditional and interactive mixed media, the Alpha Fire campaign received two […]
  • Mon, 24 Jun 2019 17:18:50 +0000

    Jennifer Paxton Promoted to Accounting Supervisor

    Johnstown, PA – Barnes Saly & Company, P.C, Certified Public Accountants (CPAs), with offices in Johnstown & Somerset, has announced that Jennifer L. Paxton has been promoted to an Accounting Supervisor with the firm. In that role, Ms. Paxton ensures that reporting deadlines are met while also training and overseeing the firm’s client accounting & payroll services team. Ms. Paxton works with […]
  • Mon, 24 Jun 2019 17:17:11 +0000

    Report: Pa. employment strong, but job growth leaves regions, industries behind

    UNIVERSITY PARK, Pa. — With the U.S. economy on track for potentially the longest expansion on record after the Great Recession of 2008-09, employment in Pennsylvania overall is strong. But the rosy statewide job numbers can mask persistent decline in various industries and regions across the state, according to economists in Penn State’s College of Agricultural Sciences. Their conclusions are reflected […]
  • Mon, 24 Jun 2019 17:14:11 +0000

    Two Penn State College of Medicine faculty members honored

    Two Penn State College of Medicine faculty members recently received the Honorary Alumni Award from the Penn State Alumni Association. They are: Dr. C. Max Lang, George T. Harrell Professor Emeritus for Penn State College of Medicine. Lang is one of Penn State College of Medicine’s founding fathers and a national leader in laboratory animal medicine. He was the first […]
  • Mon, 24 Jun 2019 17:12:07 +0000

    Saxton & Stump Hires Litigation Paralegal to Bolster Healthcare Resources

    MALVERN, Pa., June 12, 2019 — Saxton & Stump, a Pennsylvania-based law firm, is pleased to welcome Katherine McSorley to the firm’s Malvern office as a paralegal. She will provide support to attorneys in the firm’s Healthcare Litigation and Mitigation and Medical Device Litigation Groups. McSorley brings nearly 15 years of paralegal litigation experience to Saxton & Stump. Utilizing this experience, she will work with the firm’s […]
  • Mon, 24 Jun 2019 17:10:38 +0000

    Chief academic officer named at Penn College

    WILLIAMSPORT, Pa. – Michael J. Reed has been appointed vice president for academic affairs and provost at Pennsylvania College of Technology, effective July 1. His appointment was approved today by the Penn College Board of Directors. Reed, who has been employed at Penn College since 2014, had been serving as vice president for academic operations and associate provost. Previously, he […]
  • Mon, 24 Jun 2019 17:07:15 +0000

    Tax Credit Seminar attracts regional attention

    DuBOIS – Entrepreneurs, business leaders, and government officials from across Clearfield, Jefferson, and Elk Counties attended a tax credit seminar on June 20, in the DEF Building at Penn State DuBois. Hosted by the North Central PA LaunchBox and the North Central PA Regional Planning and Development Commission, the event was well attended by those interested in information on the […]
  • Mon, 24 Jun 2019 17:05:07 +0000

    Geisinger Appoints Jaewon Ryu, MD, as President and Chief Executive Officer

    DANVILLE, PA – June 20, 2019 – Geisinger today announced that its Board of Directors has appointed Jaewon Ryu, M.D., J.D., as president and chief executive officer. Dr. Ryu, who has served as interim president and CEO since November 2018 and executive vice president and chief medical officer since September 2016, becomes the seventh chief executive officer in Geisinger’s 104-year history. […]
  • Mon, 24 Jun 2019 17:00:50 +0000

    Barton Associates’ Lighting Design Recognized by the Illuminating Engineering Society

    York, PA–June 21, 2019- We are pleased to announce that Barton’s Jennifer Harrington, PE, LC; Kiley Johns, EIT, LC; and Yancy Unger, PE was recently honored with a 2019 Certificate of Merit from the Illuminating Engineering Society (IES) Philadelphia Section for the lighting design of the Pennsylvania State University’s New Recital Hall and Music 1 Building Renovations at University Park, […]
  • Tue, 25 Jun 2019 12:11:41 +0000

    Finding a parking solution for the Strip District

    Few neighborhoods in the region are growing faster than the Strip District, and the growth has put further strain on the area's already-limited parking supply. An East Liberty-based company announced Monday that it had completed a parking use and needs study that it believes can help solve the Strip's parking problem. The announcement was made by Aaron Morris, the CEO and co-founder of data collection company Allvision, the Post-Gazette reported. Using information gathered by an unnamed company…
  • Tue, 25 Jun 2019 11:41:09 +0000

    More details emerge about the Highmark-UPMC agreement

    More details are emerging about the Highmark-UPMC 10-year agreement announced Monday. The agreement will go into effect July 1 after the consent decree expires June 30. The actual signed contract will take a little longer than that, according to Highmark and state officials. While the contract terms and conditions will be finalized into July, what Highmark called full in-network access to UPMC will be available July 1 provided UPMC was already in the patient's network. Full details of the agreement…
  • Tue, 25 Jun 2019 07:00:00 +0000

    Filling the Gap: Working to keep college graduates in the region

    The program is designed to increase the retention of college students in the Pittsburgh area after graduation.
  • Mon, 24 Jun 2019 19:12:26 +0000

    Behind the enmity, a 'window opened' with UPMC and Highmark —and all sides pounced on the chance

    Although specifics weren’t exactly spelled out — neither Highmark nor UPMC would release many details about the agreement and Shapiro wouldn’t either — it was unexpected but welcome news to western Pennsylvania.
  • Mon, 24 Jun 2019 18:41:59 +0000

    Employers throughout Pittsburgh feel sense of relief as UPMC, Highmark reach deal

    'It’s shocking that the board allowed it to get this close.'
  • Mon, 24 Jun 2019 18:14:26 +0000

    Local politicians praise UPMC-Highmark agreement, call for permanent solution

    Although everyone expressed relief that an agreement had been reached, several politicians vowed to seek a more permanent arrangement so the region would not face the same problem in 10 years.
  • Mon, 24 Jun 2019 18:04:58 +0000

    Highmark Health CEO David Holmberg on the new agreement with UPMC

    Holmberg said that the agreement between UPMC and Highmark called for collaboration where the community benefits, while still promoting healthy competition between the two hospital systems.
  • Mon, 24 Jun 2019 17:43:32 +0000

    What it's expected to cost to tear down and redevelop Century III Mall

    Century III Mall's ownership details at least $100 million in investment, some of it public, to tear down the mall and rebuild on the West Mifflin site
  • Mon, 24 Jun 2019 16:48:48 +0000

    Local law firm to open new office in July, get new HQ next year

    At present site since 1964, opportunity for new digs 'too good to pass up.'
  • Mon, 24 Jun 2019 16:45:48 +0000

    Is a dividend hike coming for PNC?

    CCAR results to be released Thursday.
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