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) July 20, 2009
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 July 20, 2009, S&T Bancorp, Inc. announced by press release its earnings for the three and six months ended June 30, 2009. 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.
July 20, 2009	S&T Bancorp, Inc.
	/s/ Robert E. Rout
	Robert E. Rout Senior Executive Vice President, Chief Financial Officer, Chief Administrative Officer and Secretary

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

EX-99

Contact: Robert E. Rout

Chief Administrative and

Chief Financial Officer

TO BE RELEASED:

9:00 a.m., Monday, July 20, 2009

S&T Bancorp, Inc. Announces Results

Indiana, Pennsylvania - S&T Bancorp, Inc. (NASDAQ: STBA) today announced a net loss of $10.2 million or ($0.37) diluted earnings per share for the quarter ended June 30, 2009 compared to net income of $13.9 million or $0.54 diluted earnings per share for the quarter ended June 30, 2008. For the six months ending June 30, 2009, the net loss was $13.3 million or ($0.48) diluted earnings per share. The decrease in net income and earnings per share for the second quarter 2009 is primarily due to higher provision for loan losses, increased Federal Deposit Insurance Corporation (FDIC) premiums and other-than-temporary impairments.

Todd D. Brice, president and chief executive officer, commented, "We are certainly disappointed in our second quarter earnings performance but believe the increases to provision expense and net loan charge-offs are prudent. We continue to address the credit stress in our commercial loan portfolio and are confident that these aggressive actions and our strong capital position will allow us to successfully work through this difficult period."

During the second quarter of 2009, net charged-off loans were $34.2 million. The most significant charged-off loans were:

• $26.5 million of a $30.3 million commercial relationship with an energy exploration and drilling company. Continued decreases in energy commodity prices have created going concern issues for the company and a collateral liquidation strategy is in process.
• $5.3 million on three Florida lot development projects with an aggregate balance of $8.8 million were charged down to current market valuations. The balance of the commercial relationship of $16.8 million is in performing status and comprised of projects primarily located in western Pennsylvania.
• $1.1 million of a $1.8 million loan for a regional restaurant that entered into bankruptcy.

The provision for loan losses was $32.2 million, $21.4 million and $5.6 million for the quarters ending June 30, 2009, March 31, 2009 and December 31, 2008, respectively. The allowance for loan losses to total loans for the same periods was 1.67 percent, 1.70 percent and 1.20 percent, respectively. Included in the $57.9 million allowance for loan losses is $15.0 million of specific reserves for nonperforming and other troubled loans as of June 30, 2009. In addition, the reserve for unfunded commitments, classified separately from the allowance for loan losses, was increased $3.3 million to $4.6 million during the first half of 2009. Also during the first six months of 2009, net charge-offs were $38.4 million or 2.20 percent of average loans on an annualized basis. For the same period of 2008, net charge-offs were $2.1 million or 0.15 percent of average loans on an annualized basis.

Nonperforming loans totaled $71.4 million at June 30, 2009 compared to $92.0 million and $42.5 million as of March 31, 2009 and December 31, 2008, respectively. The nonperforming loans to total loans for the same periods were 2.06 percent, 2.62 percent and 1.19 percent, respectively. The most significant components of nonperforming loans at June 30, 2009 included:

• $17.1 million for three commercial real estate projects in the New York and Connecticut regions. Projects include undeveloped land, mixed-use commercial properties and a new condominium project. Specific reserves of $6.1 million have been established for these projects.
• A $7.9 million commercial real estate relationship consisting of multiple retail projects in the western Pennsylvania region. A $0.1 million specific reserve has been established.
• $7.3 million residual values on remaining collateral for the energy related and Florida lot development loans partially charged off this quarter. Collateral values are believed to approximate current market values.

Brice commented, "Addressing troubled commercial credits quickly and conservatively has always been, and will continue to be, our credit philosophy. While we have been dealing with some stresses in our commercial loan portfolio, it is noteworthy that our residential mortgage and home equity portfolios continue to perform well as a result of traditionally conservative underwriting and the avoidance of any subprime loan products."

Net interest income on a fully taxable equivalent basis increased by $3.0 million, or 9 percent, to $37.9 million for the second quarter of 2009, as compared to the same period of 2008. For the six months ending June 30, 2009 and 2008, respectively, net interest income on a fully taxable equivalent basis increased $8.8 million or 13 percent. Net interest income was positively affected by the IBT acquisition in the second quarter of 2008, and partially offset by higher delinquent interest. The net interest margin on a fully taxable equivalent basis was 3.86 percent, 3.82 percent and 4.08 percent for the quarters ending June 30, 2009, March 31, 2009 and June 30, 2008, respectively.

Earning assets have decreased $176.2 million over the past six months, primarily due to decreased commercial loan demand and balance sheet deleveraging activities that allow maturing investment securities to reduce borrowings. Residential mortgage and home equity loan applications have achieved record levels during the first six months of 2009 as consumers took advantage of lower interest rates. $59.4 million of residential mortgage loans and $80.2 million of home equity loans were originated during the year-to-date period ending June 30, 2009. Most of the new residential mortgage loans are sold to FNMA in order to minimize the interest rate risk associated with long-term mortgages in loan portfolios.

Deposits decreased $72.6 million during the six-month period primarily due to lower deposit pricings as a result of reduced funding demands for loan growth. However, a $29.7 million increase in demand deposits is especially encouraging since this has been an area of strategic focus in order to deepen our relationship banking philosophy with both commercial and retail customers.

Noninterest income, excluding investment security losses, increased $2.0 million, or 20 percent, for the second quarter of 2009 as compared to the second quarter of 2008. For the six-month period ending June 30, 2009 as compared to the same period in 2008, noninterest income, excluding investment security losses, increased $3.3 million, or 18 percent. The increases are primarily due to record performances in mortgage banking activities, strong debit/credit card revenues and higher deposit fees. Positively affecting debit/credit card and deposit fees was the increased customer base resulting from the IBT merger in the second quarter 2008, as well as organic expansion of demand deposit accounts.

Net investment security losses for the second quarter of 2009 were $1.3 million. The investment security losses for the second quarter of 2009 are primarily due to an other-than-temporary impairment charge for one equity holding. The equity securities portfolio has a market value of $12.5 million and net unrealized losses of $2.7 million as of June 30, 2009, as compared to $13.2 million and $4.0 million of unrealized losses at March 31, 2009.

Noninterest expense increased $10.4 million, or 46 percent, for the second quarter of 2009, as compared to the second quarter 2008 period. For the six-month period ending June 30, 2009 as compared to the same period in 2008, noninterest expense increased $17.9 million, or 44 percent. Significant factors contributing to these increases are higher staff levels, infrastructure costs and core deposit intangible amortization related to the IBT merger, FDIC insurance premiums and surcharges, pension expense, reserve for unfunded loan commitments, other-than-temporary impairment charges for affordable housing partnerships and legal and consulting costs for troubled loans.

On January 16, 2009, S&T received $108.7 million of funds from the U.S. Treasury's Capital Purchase Program through the issuance of preferred stock and warrants for common stock. The purpose of the government program was to promote lending by healthy banks to individuals and businesses in order to stimulate the economy. Expenses associated with this preferred stock were $2.8 million for the six-month period ending June 30, 2009. Brice commented, "Participation in the Capital Purchase Program was a difficult decision for S&T since we were already designated as "well capitalized" by regulatory guidelines. While the additional capital is comforting during these times, our intention is to obtain regulatory approval for returning these funds once a positive direction in the economy becomes more clear." S&T's capital ratios for leverage, Total, Tier I and tangible common capital to tangible assets at June 30, 2009 were 9.56 percent, 14.60 percent, 11.33 percent and 6.23 percent, respectively.

S&T Bancorp, Inc. declared a common stock quarterly dividend of $0.15 per share on June 15, 2009 which is payable on July 24, 2009 to shareholders of record as of June 30, 2009. This dividend represents a 5 percent projected annual yield utilizing the June 30, 2009 closing market price of $12.16.

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 $4.2 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. In addition to the results of operations presented in accordance with 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 tax-equivalent basis and operating revenue. 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 wi th 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 should not be considered an alternative to GAAP. A reconciliation of these non-GAAP financial measures are 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.

EX-99

S&T Bancorp, Inc. Consolidated Selected Financial Data June 30, 2009 (Dollars in thousands, except per share data)								Page 1 of 3
	2008				2009		Six Months Ended
For the period:	March 1Q	June 2Q	September 3Q	December 4Q	March 1Q	June 2Q	June 2009	June 2008
Interest Income	$50,458	$50,433	$57,416	$57,811	$50,424	$49,226	$99,650	$100,891
Interest Expense	19,909	16,791	18,245	17,226	14,279	12,677	26,956	36,700
Net Interest Income	30,549	33,642	39,171	40,585	36,145	36,549	72,694	64,191
Taxable Equivalent Adjustment	1,148	1,227	1,385	1,388	1,334	1,311	2,645	2,375
Net Interest Income (FTE)	31,697	34,869	40,556	41,973	37,479	37,860	75,339	66,566
Provision For Loan Losses	1,279	(118)	6,156	5,561	21,389	32,184	53,573	1,161
Net Interest Income After Provisions (FTE)	30,418	34,987	34,400	36,412	16,090	5,676	21,766	65,405
Security Gains and Losses, Net	611	(1,829)	(341)	(92)	(1,246)	(1,296)	(2,542)	(1,218)
Service Charges and Fees	2,402	2,754	3,599	3,567	3,056	3,232	6,288	5,156
Wealth Management	1,862	1,907	2,118	2,081	1,743	1,912	3,655	3,769
Insurance	1,997	2,042	2,073	1,984	1,862	1,985	3,847	4,039
Other	2,638	3,100	2,811	2,168	3,601	4,624	8,225	5,738
Total Noninterest Income	8,899	9,803	10,601	9,800	10,262	11,753	22,015	18,702
Salaries and Employee Benefits	10,060	10,514	11,725	10,409	11,655	12,698	24,353	20,574
Occupancy and Equip. Expense, Net	2,660	2,636	2,761	2,838	3,082	3,023	6,106	5,296
Data Processing Expense	1,071	1,668	1,365	1,384	1,468	1,542	3,010	2,739
FDIC Expense	75	74	131	129	1,941	3,447	5,388	149
Other	4,089	7,492	6,358	6,363	7,292	12,052	19,343	11,581
Total Noninterest Expense	17,955	22,384	22,340	21,123	25,438	32,762	58,200	40,339
Income (Loss) Before Taxes	21,973	20,577	22,320	24,997	(332)	(16,629)	(16,961)	42,550
Taxable Equivalent Adjustment	1,148	1,227	1,385	1,388	1,334	1,311	2,645	2,375
Applicable Income Taxes	5,969	5,489	5,249	7,809	176	(9,284)	(9,108)	11,458
Net Income (Loss)	14,856	13,861	15,686	15,800	(1,842)	(8,656)	(10,498)	28,717
Preferred Stock Dividends	-	-	-	-	1,283	1,541	2,824	-
Net Income (Loss) Available to Common Shareholders	$14,856	$13,861	$15,686	$15,800	($3,125)	($10,197)	($13,322)	$28,717
Per Common Share Data:
Shares Outstanding at End of Period	24,615,136	27,408,633	27,588,510	27,632,928	27,637,317	27,654,530	27,654,530	27,408,633
Average Shares Outstanding - Diluted	24,680,484	25,503,920	27,602,216	27,722,550	27,637,292	27,650,937	27,644,152	25,092,202
Net Income (Loss) - Diluted	$0.60	$0.54	$0.57	$0.57	($0.11)	($0.37)	($0.48)	$1.14
Dividends Declared	$0.31	$0.31	$0.31	$0.31	$0.31	$0.15	$0.46	$0.62
Common Book Value	$14.18	$16.00	$16.34	$16.24	$16.01	$15.48	$15.48	$16.00
Tangible Common Book Value (5)	$12.04	$9.52	$9.97	$9.90	$9.68	$9.17	$9.17	$9.52
Market Value	$32.17	$29.06	$36.83	$35.50	$21.21	$12.16	$12.16	$29.06

S&T Bancorp, Inc. Consolidated Selected Financial Data June 30, 2009 (Dollars in thousands)							Page 2 of 3
	2008				2009
Asset Quality Data	March 1Q	June 2Q	September 3Q	December 4Q	March 1Q	June 2Q
Nonaccrual Loans and Nonperforming Loans	$23,212	$15,959	$32,793	$42,466	$92,047	$71,433
Assets Acquired through Foreclosure or Repossession	630	1,884	1,111	851	1,452	2,262
Nonperforming Assets	23,842	17,843	33,904	43,317	93,499	73,695
Allowance for Loan Losses	35,717	38,796	43,235	42,689	59,847	57,875
Nonperforming Loans / Loans	0.81%	0.46%	0.92%	1.19%	2.62%	2.06%
Allowance for Loan Losses / Loans	1.25%	1.12%	1.21%	1.20%	1.70%	1.67%
Allowance for Loan Losses / Nonperforming Loans	154%	243%	132%	101%	65%	81%
Net Loan Charge-offs (Recoveries)	(94)	2,224	1,717	6,107	4,231	34,156
Net Loan Charge-offs (Recoveries) (annualized)/ Average Loans	-0.01%	0.29%	0.20%	0.68%	0.49%	3.91%
Balance Sheet (Period-End)
Assets	$3,463,806	$4,353,466	$4,461,085	$4,438,368	$4,314,540	$4,243,876
Earning Assets	3,212,919	3,934,187	4,075,431	4,044,970	3,948,774	3,868,782
Securities	362,053	466,524	496,844	476,255	429,919	409,011
Loans, Gross	2,850,866	3,467,663	3,578,587	3,568,716	3,518,855	3,459,771
Total Deposits	2,605,187	3,114,560	3,131,882	3,228,416	3,244,197	3,155,852
Non-Interest Bearing Deposits	471,040	593,339	600,246	600,282	625,325	629,967
NOW, Money Market & Savings	1,203,833	1,325,755	1,280,816	1,334,324	1,264,407	1,170,573
CD's $100,000 and over	250,489	329,087	353,167	377,748	386,441	362,627
Other Time Deposits	679,825	866,379	897,653	916,062	968,024	992,685
Short-term Borrowings	211,391	472,045	552,505	421,894	225,898	291,763
Long-term Debt	246,403	281,163	280,921	270,950	232,282	207,028
Shareholders' Equity	349,073	438,499	450,717	448,694	547,276	533,094
Balance Sheet (Daily Averages)
Assets	$3,407,665	$3,701,389	$4,346,481	$4,419,465	$4,360,166	$4,304,406
Earning Assets	3,198,279	3,434,268	3,961,327	4,042,118	3,980,258	3,935,389
Securities	369,400	386,243	472,293	490,754	445,150	427,285
Loans, Gross	2,828,762	3,048,024	3,488,843	3,551,179	3,534,064	3,508,104
Deposits	2,579,321	2,712,198	3,086,428	3,205,711	3,251,587	3,220,761
Shareholders' Equity	345,939	377,160	447,941	458,600	542,240	549,968

S&T Bancorp, Inc. Consolidated Selected Financial Data June 30, 2009 (Dollars in thousands, except per share data)								Page 3 of 3
	2008				2009		Year-to-date
Profitability Ratios (annualized)	March 1Q	June 2Q	September 3Q	December 4Q	March 1Q	June 2Q	June 2009	June 2008
Common Return on Average Assets	1.75%	1.51%	1.44%	1.42%	-0.29%	-0.95%	-0.62%	1.62%
Common Return on Average Tangible Common Assets (6)	1.78%	1.54%	1.50%	1.48%	-0.30%	-0.99%	-0.65%	1.66%
Common Return on Average Shareholders' Equity	17.27%	14.78%	13.93%	13.71%	-2.34%	-7.44%	-4.92%	15.97%
Common Return on Average Tangible Common Equity (7)	20.37%	19.17%	22.95%	22.19%	-4.53%	-15.13%	-9.77%	19.90%
Yield on Earning Assets (FTE)	6.49%	6.05%	5.92%	5.83%	5.27%	5.16%	5.21%	6.26%
Cost of Interest Bearing Funds	3.10%	2.43%	2.23%	2.06%	1.82%	1.65%	1.73%	2.75%
Net Interest Margin (FTE)(4)	3.99%	4.08%	4.07%	4.13%	3.82%	3.86%	3.84%	4.04%
Efficiency Ratio (FTE)(1)	44.23%	50.11%	43.67%	40.80%	53.28%	66.04%	59.78%	47.31%
Capitalization Ratios
Dividends Paid to Net Income	51.23%	55.05%	54.17%	54.13%	-273.87%	-84.02%
Common Equity to Assets (8)	10.08%	10.07%	10.10%	10.11%	10.26%	10.09%
Leverage Ratio (2)	9.28%	8.05%	7.15%	7.30%	9.73%	9.56%
Risk Based Capital - Tier I (3)	10.29%	7.99%	8.23%	8.65%	11.58%	11.33%
Risk Based Capital - Tier II (3)	12.46%	11.12%	11.40%	11.82%	14.82%	14.60%
Tangible Common Equity/Tangible Assets (8)	8.69%	6.25%	6.42%	6.41%	6.46%	6.23%
Definitions and reconciliation of GAAP to non-GAAP financial measures:
(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.
(5) Tangible Common Book Value
Common book value (GAAP basis)	$14.18	$16.00	$16.34	$16.24	$16.01	$15.48	$15.48	$16.00
Effect of excluding intangible assets	(2.14)	(6.48)	(6.37)	(6.34)	(6.33)	(6.31)	(6.31)	(6.48)
Tangible common book value	$12.04	$9.52	$9.97	$9.90	$9.68	$9.17	$9.17	$9.52
(6) Common Return on Average Tangible Common Assets
Common return on average assets (GAAP basis)	1.75%	1.51%	1.44%	1.42%	-0.29%	-0.95%	-0.62%	1.62%
Effect of excluding intangible assets	0.03%	0.03%	0.06%	0.06%	-0.01%	-0.04%	-0.03%	0.04%
Common return on average tangible common assets	1.78%	1.54%	1.50%	1.48%	-0.30%	-0.99%	-0.65%	1.66%
(7) Common Return on Average Tangible Common Equity
Common return on average equity (GAAP basis)	17.27%	14.78%	13.93%	13.71%	-2.34%	-7.44%	-4.92%	15.97%
Effect of excluding intangible assets	3.10%	4.39%	9.02%	8.48%	-1.08%	-4.23%	-2.53%	3.93%
Effect of excluding preferred stock	-	-	-	-	-1.11%	-3.46%	-2.32%	-
Common return on average tangible common equity	20.37%	19.17%	22.95%	22.19%	-4.53%	-15.13%	-9.77%	19.90%
(8) Tangible Common Equity / Tangible Assets
Common equity / Assets (GAAP basis)	10.08%	10.07%	10.10%	10.11%	10.26%	10.09%
Effect of excluding intangible assets	-1.39%	-3.82%	-3.68%	-3.70%	-3.80%	-3.86%
Tangible common equity / tangible assets	8.69%	6.25%	6.42%	6.41%	6.46%	6.23%