8-K

United States

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) April 21, 2008
S&T Bancorp, Inc. ____________________________________________________________  (Exact Name of Registrant as Specified in its Charter)
Pennsylvania_________________ (State or Other Jurisdiction of Incorporation)	0-12508_________________ (Commission File Number)	25-1434426_________________ (IRS Employer Identification No.)
800 Philadelphia Street, Indiana, PA __________________________________________ (Address of Principal Executive Offices)			15701 ___________________ Zip Code
Registrant's telephone number, including area code			(800) 325-2265
Former name or address, if changed since last report			Not Applicable

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

• Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
• Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
• Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
• Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 - Results of Operations and Financial Condition

On April 21, 2008, S&T Bancorp, Inc. announced by press release its earnings for the first quarter ended March 31, 2008. A copy of the press release is attached hereto as Exhibit 99.1. The information contained in this Report on Form 8-K is furnished pursuant to Item 2.02 and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Exchange Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 - Financial Statements and Exhibits

(d) Exhibits. The exhibit listed on the Exhibit Index accompanying this Form 8-K is filed herewith.

(99.1) Press Release

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed by the undersigned thereunto duly authorized.
April 21, 2008	S&T Bancorp, Inc.
	/s/ Robert E. Rout
	Robert E. Rout Senior Executive Vice President, Chief Financial Officer and Secretary

Exhibit Index
Number	Description	Method of Filing
99.1	Press Release	Filed herewith

EX-99

Contact: Robert E. Rout
Senior Executive Vice President,
Chief Financial Officer
and Secretary

TO BE RELEASED:
9:00 a.m., Monday, April 21, 2008

S&T Bancorp, Inc. Announces Earnings

Indiana, Pennsylvania - S&T Bancorp, Inc. (NASDAQ: STBA) today announced net income of $14.9 million or $0.60 diluted earnings per share for the quarter ended March 31, 2008 compared to net income of $13.3 million or $0.52 diluted earnings per share for the first quarter of 2007. The increase in net income and earnings per share is primarily due to improved net interest income and lower provision for loan losses.

Annualized return on average equity for the quarter ended March 31, 2008 was 17.27 percent, as compared to 15.90 percent for the quarter ended March 31, 2007 and 16.97 percent for the full year 2007. Annualized return on average assets was 1.75 percent for the quarter ended March 31, 2008, compared with 1.63 percent for the first quarter of 2007 and 1.68 percent for the full year 2007.

James C. Miller, S&T chairman and chief executive officer, commented, "We are very pleased with this quarter's strong earnings performance. Despite the general economic concerns, market disruptions such as we have seen over the past year sometimes create opportunities for companies like S&T that have not strayed from banking fundamentals. Our upcoming merger with IBT Bancorp, Inc. scheduled for the second quarter of this year should allow us to further leverage those opportunities."

Net interest income on a fully taxable equivalent basis increased by $2.3 million, or 8 percent, to $31.7 million for the first quarter of 2008, as compared to the same period of 2007. The net interest margin on a fully taxable equivalent basis was 3.99 percent, 3.94 percent and 3.84 percent for the quarters ending March 31, 2008, December 31, 2007, and March 31, 2007, respectively.

Earning assets have increased $66.0 million over the past 12 months, primarily driven by a $63.8 million, or 3 percent, increase in commercial lending and a $52.5 million, or 8 percent, increase in consumer lending. Investment securities were reduced by $50.3 million over the same 12-month period, as the risk/reward opportunities for leveraging activities have been significantly reduced by a relatively flat and sometimes inverted yield curve.

Deposits increased $28.3 million, or 1 percent, during the 12-month period, providing core funding for loan growth. Todd D. Brice, president and chief operating officer, added, "While core deposits are our most stable and lowest cost of funds overall, from time to time, we may experience periods like we are in today where borrowings have a slight pricing advantage. We are willing to accept slightly less robust deposit growth in the short run to take advantage of these unique circumstances. We know that we have excellent and very competitive deposit products, especially our CMA high-yield savings account, cash management services and electronic banking systems that we believe will continue to keep us competitive and serve our customers' needs well into the future."

Noninterest income, excluding investment security gains, increased $0.4 million for the first quarter of 2008 as compared to the first quarter of 2007. The increase is primarily due to strong performances in debit and credit card activities, insurance, commercial loan swap fees and a $0.4 million gain on the Visa initial public offering. Partially offsetting these increases are mortgage servicing impairment charges of $0.2 million and fair value adjustments of investments held in trust for deferred compensation plans of $0.4 million.

Net equity investment security gains for the first quarter of 2008 were $0.6 million, a decrease from the $1.7 million for the same period of 2007. Included in the equity investment security gains for the first quarter 2008 is a $0.2 million loss recognized from the fair market value adjustment on a bank equity holding as an other-than-temporary impairment. The equity securities portfolio has a market value of $40.3 million and net unrealized gains of $8.2 million as of March 31, 2008, as compared to $51.0 million and $12.0 million at March 31, 2007.

Noninterest expense increased $0.4 million, or 2 percent, for the first three months of 2008, as compared to the 2007 period. Increases include the effects of normal year-end merit increases, higher occupancy expense due to the addition of new branches and increased reserves for unfunded commitments. The efficiency ratio, which measures recurring noninterest expense to noninterest income, excluding security gains, plus recurring net interest income on a fully taxable equivalent basis, was 44 percent and 46 percent for the quarters ended March 31, 2008 and March 31, 2007, respectively.

The provision for loan losses was $1.3 million, $1.2 million and $2.2 million for the quarters ending March 31, 2008, December 31, 2007, and March 31, 2007, respectively. Net loan recoveries for the first quarter 2008 were $0.1 million, or 0.01 percent of average loans on an annualized basis, compared to 0.01 percent of net loan charge-offs in the first quarter of 2007, and 0.17 percent for the full year 2007. Net loan recoveries were impacted by a $0.5 million recovery on a mixed-use real estate development participation loan that was partially charged-off in 2006. Provision for loan losses in the first quarter 2008 includes specific reserves for two commercial loan relationships totaling $1.2 million. Both of these relationships were placed on nonperforming loan status during the quarter.

The allowance for loan losses was 1.25 percent of total loans at the end of the first quarter of 2008, as compared to 1.23 percent at December 31, 2007 and 1.29 percent at March 31, 2007. Nonperforming assets were $23.8 million or 0.69 percent of total assets at March 31, 2008, as compared to $17.3 million or 0.51 percent of total assets at December 31, 2007 and $20.5 million or 0.61 percent of total assets at March 31, 2007. The two aforementioned commercial loan relationships placed on nonperforming status in the first quarter of 2008 were $4.7 million and $4.2 million, respectively. These increases to nonperforming loans were partially offset by the repayment of a $1.7 million residual balance on the mixed-use real estate development participation loan that was previously classified as nonperforming.

Brice commented, "Asset quality is an important strategic commitment at S&T, especially considering our growing commercial relationships, where loans tend to be larger, more complex, and, by their nature, may take longer to resolve when a problem does occur. We continue to be very aggressive in dealing with problem loans."

S&T Bancorp, Inc. declared a common stock quarterly dividend of $0.31 per share on March 17, 2008, which is payable on April 25, 2008 to shareholders of record as of April 1, 2008. This dividend represents a 3 percent increase over the $0.30 per share quarterly dividend declared a year ago and a 4 percent projected annual yield utilizing the March 31, 2008 closing market price of $32.17.

The S&T Bancorp, Inc. Board of Directors authorized stock buyback programs in 2005 and 2006 of one million shares each, or approximately 4 percent of shares outstanding in each year. On June 18, 2007, the S&T Bancorp, Inc. Board of Directors authorized an additional buyback program of one million shares until June 30, 2008. During 2007, S&T repurchased 971,400 shares through these programs at an average cost of $32.74 per share. During 2008, there were no purchases of S&T Bancorp, Inc. stock under the 2007 program.

Headquartered in Indiana, PA, S&T Bancorp, Inc. operates 46 offices within Allegheny, Armstrong, Blair, Butler, Cambria, Clarion, Clearfield, Indiana, Jefferson and Westmoreland counties. With assets of $3.5 billion, S&T Bancorp, Inc. stock trades on the NASDAQ Global Select Market System under the symbol STBA.

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. 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.

EX-99

S&T Bancorp, Inc. Consolidated Selected Financial Data March 31, 2008 (Dollars in thousands, except per share data)					Page 1 of 3
	2007				2008
For the period:	March 1Q	June 2Q	September 3Q	December 4Q	March 1Q
Interest Income	$52,934	$54,274	$54,761	$53,637	$50,458
Interest Expense	24,725	25,321	25,485	23,636	19,909
Net Interest Income	28,209	28,953	29,276	30,001	30,549
Taxable Equivalent Adjustment	1,186	1,216	1,170	1,156	1,148
Net Interest Income (FTE)	29,395	30,169	30,446	31,157	31,697
Provision For Loan Losses	2,178	1,305	1,142	1,187	1,279
Net Interest Income After Provisions (FTE)	27,217	28,864	29,304	29,970	30,418
Security Gains, Net	1,656	481	1,129	579	611
Service Charges and Fees	2,343	2,529	2,605	2,647	2,402
Wealth Management	1,855	1,978	1,751	1,886	1,862
Insurance	1,894	1,792	1,874	1,726	1,997
Other	2,424	2,744	4,270	2,443	2,638
Total Noninterest Income	8,516	9,043	10,500	8,702	8,899
Salaries and Employee Benefits	9,934	10,073	9,910	10,470	10,060
Occupancy and Equip. Expense, Net	2,261	2,447	2,423	2,452	2,660
Data Processing Expense	1,234	1,301	1,179	1,166	1,071
FDIC Expense	76	77	74	75	75
Other	4,084	4,163	4,543	5,518	4,089
Total Noninterest Expense	17,589	18,061	18,129	19,681	17,955
Income Before Taxes	19,800	20,327	22,804	19,570	21,973
Taxable Equivalent Adjustment	1,186	1,216	1,170	1,156	1,148
Applicable Income Taxes	5,316	5,235	5,973	5,103	5,969
Net Income	$13,298	$13,876	$15,661	$13,311	$14,856
Per Common Share Data:
Shares Outstanding at End of Period	24,897,787	24,468,671	24,543,177	24,551,087	24,615,136
Average Shares Outstanding - Diluted	25,389,584	24,847,410	24,690,735	24,677,720	24,680,484
Net Income - Diluted	$0.52	$0.56	$0.63	$0.54	$0.60
Dividends Declared	$0.30	$0.30	$0.30	$0.31	$0.31
Book Value	$13.16	$12.98	$13.36	$13.75	$14.18
Market Value	$33.04	$32.90	$32.09	$27.64	$32.17

S&T Bancorp, Inc. Consolidated Selected Financial Data March 31, 2008 (Dollars in thousands)					Page 2 of 3
	2007				2008
Asset Quality Data	March 1Q	June 2Q	September 3Q	December 4Q	March 1Q
Nonaccrual Loans and Nonperforming Loans	$19,854	$14,944	$14,445	$16,798	$23,212
Assets acquired through foreclosure or repossession	606	610	869	488	630
Nonperforming Assets	20,460	15,554	15,314	17,286	23,842
Allowance for Loan Losses	35,319	35,808	34,144	34,345	35,717
Nonperforming Loans / Loans	0.73%	0.54%	0.52%	0.60%	0.81%
Allowance for Loan Losses / Loans	1.29%	1.31%	1.24%	1.23%	1.25%
Allowance for Loan Losses / Nonperforming Loans	178%	240%	236%	204%	154%
Net Loan Charge-offs (Recoveries)	78	817	2,806	986	(94)
Net Loan Charge-offs (Recoveries) (annualized)/ Average Loans	0.01%	0.12%	0.41%	0.14%	-0.01%
Balance Sheet (Period-End)
Assets	$3,361,963	$3,368,761	$3,348,096	$3,407,621	$3,463,806
Earning Assets	3,146,934	3,141,844	3,126,714	3,169,594	3,212,919
Securities	412,384	398,612	375,151	372,655	362,053
Loans, Gross	2,734,550	2,743,232	2,751,564	2,796,939	2,850,866
Total Deposits	2,576,887	2,624,495	2,620,176	2,621,825	2,605,187
Non-Interest Bearing Deposits	444,525	446,455	451,196	459,708	471,040
NOW, Money Market & Savings	1,204,833	1,230,290	1,233,969	1,243,061	1,203,833
CD's $100,000 and over	259,390	258,311	250,011	249,643	250,489
Other Time Deposits	668,139	689,439	685,000	669,413	679,825
Short-term borrowings	169,552	144,342	125,809	180,258	211,391
Long-term Debt	246,715	246,487	236,255	226,021	246,403
Shareholders' Equity	327,559	317,707	327,863	337,560	349,073
Balance Sheet (Daily Averages)
Assets	$3,312,784	$3,344,544	$3,339,979	$3,346,685	$3,407,665
Earning Assets	3,108,328	3,134,253	3,127,103	3,137,967	3,198,279
Securities	420,645	403,351	384,405	370,100	369,400
Loans, Gross	2,687,564	2,730,618	2,740,458	2,767,615	2,828,762
Deposits	2,550,819	2,578,878	2,623,770	2,620,448	2,579,321
Shareholders' Equity	339,168	325,966	324,124	333,880	345,939

S&T Bancorp, Inc. Consolidated Selected Financial Data March 31, 2008 (Dollars in thousands, except per share data)					Page 3 of 3
	2007				2008
Profitability Ratios (annualized)	March 1Q	June 2Q	September 3Q	December 4Q	March 1Q
Return on Average Assets	1.63%	1.66%	1.86%	1.58%	1.75%
Return on Average Shareholders' Equity	15.90%	17.07%	19.17%	15.82%	17.27%
Yield on Earning Assets (FTE)	7.06%	7.10%	7.10%	6.93%	6.49%
Cost of Interest Bearing Funds	4.00%	4.01%	3.99%	3.70%	3.10%
Net Interest Margin (FTE)(4)	3.84%	3.86%	3.86%	3.94%	3.99%
Efficiency Ratio (FTE)(1)	46.40%	46.06%	44.28%	49.38%	44.23%
Capitalization Ratios
Dividends Paid to Net Income	57.21%	53.92%	46.86%	55.31%	51.23%
Shareholders' Equity to Assets (Period End)	9.74%	9.43%	9.79%	9.91%	10.08%
Leverage Ratio (2)	8.38%	8.06%	8.38%	8.57%	9.28%
Risk Based Capital - Tier I (3)	9.23%	8.94%	9.35%	9.50%	10.29%
Risk Based Capital - Tier II (3)	11.45%	11.15%	11.50%	11.64%	12.46%
Definitions:
(1) Recurring non-interest expense divided by recurring non-interest income plus net interest income, on a fully taxable equivalent basis. (2) Equity less goodwill to total assets and allowance for loan losses. (3) Effective October 1, 1998, banking regulators require financial institutions to include 45% of the pretax net unrealized holding gains on available for sale equity securities in Tier 2 capital. (4) Net interest income, on a fully taxable equivalent basis, annualized divided by quarter-to-date average earning assets.