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 19, 2010
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 19, 2010, S&T Bancorp, Inc. announced by press release its earnings for the three months ended March 31, 2010. 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 19, 2010	S&T Bancorp, Inc.
	/s/ Mark Kochvar______________________
	Mark Kochvar Senior Executive Vice President, Chief Financial Officer

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

EX-99

FOR IMMEDIATE RELEASE
April 19, 2010                                                                                                                   Contact: Mark Kochvar
                                                                                                                Chief Financial Officer
                                                                                                      724-465-4826

S&T Bancorp, Inc. Reports Improved 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 earnings.

Todd D. Brice, President and Chief Executive Officer, offered the following highlights:

• Diluted earnings per common share were $0.35 compared to $0.28 in the fourth quarter of 2009 and an $0.11 loss for the first quarter of 2009
• Net interest margin increased 6 basis points from the fourth quarter of 2009 to 4.00%
• Deposits increased $102 million from the first quarter of 2009
• Provision for loan losses was $4.4 million and net charge-offs were $1.0 million
• Nonperforming assets increased to $99.9 million from $95.4 million in the fourth quarter of 2009

"The economy continues to show signs of recovery, and at S&T Bank, we are pleased to report earnings for this quarter that are more in line with our expectations," Brice said. "The primary drivers for this quarter's earnings results were a reduction of net charge-offs and loan loss provision. We continue to keep a close eye on any nonperforming assets, and we remain diligent in setting aside allowances for loan losses."

S&T Bancorp, Inc. Reports Improved First Quarter Earnings

(cont.)

Earnings

Net income available to common shareholders improved to $9.8 million from the previous quarter of $7.6 million and a $3.1 million loss in the comparable period one year ago. Net income for the first quarter, before preferred stock dividends and amortization expense related to the Capital Purchase Program ("CPP") was $11.3 million compared to $9.2 million in the fourth quarter of 2009 and a $1.8 million loss in the first quarter of 2009.

Net Interest Income

Net interest income on a fully taxable equivalent basis for the first quarter of 2010 was $37.1 million, which represents a $0.6 million decrease when compared to the fourth quarter of 2009 and a $0.3 million decrease when compared to the first quarter of 2009. The net interest margin on a fully taxable equivalent basis was 4.00% in the first quarter compared to 3.94% in the fourth quarter of 2009 and 3.81% in the first quarter of 2009. The net interest margin improvement is due to favorable repricing of deposits and other borrowed funds and disciplined loan pricing.

Earning Assets

Earning assets remain consistent with the fourth quarter of 2009 with less than a one percent decline. Earning assets decreased $198 million from the comparable period in 2009 driven by decreases of $120 million in loans and $78 million in securities. The loan decrease is primarily due to reduced demand in our market. A significant portion of maturing investment securities were not replaced in 2009 as the reward for leveraging activities was significantly reduced in a volatile interest rate environment.

S&T Bancorp, Inc. Reports Improved First Quarter Earnings

(cont.)

Deposits

Deposits increased $102 million or three percent compared to the first quarter of 2009, included in this amount was an $84 million or 13% increase in noninterest-bearing deposit accounts. Brice commented, "Core deposit growth continues to be a strategic focus for the organization. The $84 million increase in DDA had a positive impact to our net interest margin."

Security Gains (Losses)

No significant investment impairment charges were recorded during the first quarter compared to $0.5 million in the previous quarter and $0.6 million in the first quarter of 2009. Realized gains of approximately $0.2 million were recorded from the sale of equity holdings during the first quarter of 2010.

Noninterest Income

Noninterest income totaled $11.2 million for the first quarter of 2010 compared to $11.4 million for the fourth quarter of 2009. Noninterest income was essentially unchanged as seasonally lower service charges and other fees were offset by annual bonus commission income in the insurance business. Noninterest income increased $0.9 million compared to $10.3 million in the first quarter of 2009. The increase was primarily driven by the aforementioned insurance bonus commission income and increased wealth management fees.

Noninterest Expense

Noninterest expense increased $2.8 million or 11% compared to the fourth quarter of 2009 and $2.5 million or 10% from the comparable period one year ago. The increases primarily relate to an increase in legal and consulting expenses and higher salaries and employee benefits, due to the re-introduction of incentive plans.

S&T Bancorp, Inc. Reports Improved First Quarter Earnings

(cont.)

Nonperforming Assets

Nonperforming assets totaled $99.9 million or 2.94% of total loans plus other real estate owned ("OREO") at March 31, 2010, as compared to $95.4 million or 2.80% at December 31, 2009 and $93.5 million or 2.66% at March 31, 2009. During the first quarter of 2010, there was one significant addition, a $15.4 million multi-family residential apartment complex located in western Pennsylvania that has been experiencing a high vacancy rate and declining cash flow. The credit was previously classified as an impaired loan in the third quarter of 2008 and a specific reserve was established at that time. The specific reserve was increased to $4.1 million during 2009 and remains consistent at March 31, 2010.

The allowance for loan losses at March 31, 2010 was $63.0 million or 1.85% of total loans, as compared to $59.6 million or 1.75% at December 31, 2009 and $59.8 million or 1.70% at March 31, 2009. In the first quarter of 2010, S&T recorded a provision for loan losses of $4.4 million, as compared to $10.4 million in the fourth quarter of 2009 and $21.4 million in the first quarter of 2009. Included in the allowance is $20.3 million of specific reserves, representing 23% of impaired loans. In addition to various collateral for nonperforming loans, two impaired credits are supported by approximately $6.8 million in United States Department of Agriculture (USDA) guarantees.

Charge-offs

During the first quarter of 2010, S&T experienced minimal net charge-offs of $1.0 million. The most significant charge-off was $0.6 million for a commercial relationship; the charge was the result of a write down on the collateral of residential property to current market value supported by a recent appraisal.

S&T Bancorp, Inc. Reports Improved First Quarter Earnings

(cont.)

Capital Position

S&T's capital ratios continue to exceed the "well-capitalized" thresholds of federal bank regulatory agencies with a tier 1 leverage capital ratio of 10.51%, tier 1 risk-based capital ratio of 12.40% and total risk-based capital ratio of 15.75%.

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 $4.1 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 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 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.

EX-99

S&T Bancorp, Inc. Consolidated Selected Financial Data (Dollars in thousands, except per share data)							Page 1 of 4
	2010			2009
	First Quarter		Fourth Quarter			First Quarter
Income Statements
Interest Income	$45,324		$47,126			$50,424
Interest Expense	9,410		10,671			14,279
Net Interest Income	35,914		36,455			36,145
Taxable Equivalent Adjustment	1,222		1,274			1,334
Net Interest Income (FTE)	37,136		37,729			37,479
Provision For Loan Losses	4,430		10,399			21,389
Net Interest Income After Provisions (FTE)	32,706		27,330			16,090
Security Gains (Losses), Net	153		(487)			(1,246)
Service Charges and Fees	2,971		3,349			3,056
Wealth Management	1,984		1,924			1,743
Insurance	2,368		1,884			1,862
Other	3,867		4,213			3,601
Total Noninterest Income	11,190		11,370			10,262
Salaries and Employee Benefits	12,565		12,211			11,655
Occupancy and Equipment Expense, Net	3,072		2,898			3,082
Data Processing Expense	1,603		1,473			1,468
FDIC Expense	1,301		1,475			1,941
Other	9,389		7,031			7,292
Total Noninterest Expense	27,930		25,088			25,438
Income (Loss) Before Taxes	16,119		13,125			(332)
Taxable Equivalent Adjustment	1,222		1,274			1,334
Applicable Income Taxes	3,593		2,660			176
Net Income (Loss)	11,304		9,191			(1,842)
Preferred Stock Dividends	1,547		1,545			1,283
Net Income (Loss) Available to Common Shareholders	$9,757		$7,646			($3,125)
Per Common Share Data:
Shares Outstanding at End of Period	27,777,931		27,746,554			27,637,317
Average Shares Outstanding - Diluted	27,753,384		27,701,846			27,637,292
Net Income (Loss) - Diluted	$0.35		$0.28			($0.11)
Dividends Declared	$0.15	*	$0.00		*	$0.31
Common Book Value	$16.39		$16.14			$16.01
Tangible Common Book Value (5)	$10.12		$9.85			$9.68
Market Value	$20.90		$17.01			$21.21
* S&T's Board of Directors approved a change in timing of the declaration and payment of dividends to provide better alignment with quarterly earnings beginning in the fourth quarter of 2009. The Board declared a $0.15 per common share cash dividend at its meeting held January 18, 2010 relating to the fourth quarter of 2009 performance.

S&T Bancorp, Inc. Consolidated Selected Financial Data (Dollars in thousands)						Page 2 of 4
	2010		2009
	First Quarter		Fourth Quarter		First Quarter
Balance Sheet (Period-End)
Assets	$4,135,767		$4,170,475		$4,314,540
Earning Assets	3,750,674		3,782,809		3,948,774
Securities	352,271		378,402		429,919
Loans, Gross	3,398,403		3,404,407		3,518,855
Total Deposits	3,345,816		3,304,542		3,244,197
Noninterest-Bearing Deposits	709,422		712,121		625,325
NOW, Money Market and Savings	1,256,274		1,302,051		1,264,407
CD's $100,000 and over	502,100		411,901		422,841
Other Time Deposits	878,020		878,469		931,624
Short-term Borrowings	47,996		96,235		225,898
Long-term Debt	136,250		176,513		232,282
Shareholders' Equity	560,743		553,318		547,276
Balance Sheet (Daily Averages)
Assets	$4,137,480		$4,167,295		$4,360,166
Earning Assets	3,756,958		3,798,477		3,980,258
Securities	352,862		385,966		445,150
Loans, Gross	3,404,096		3,412,510		3,534,064
Deposits	3,250,586		3,271,199		3,251,587
Shareholders' Equity	555,659		545,787		542,240
Loans (Period-End)
Consumer
Home Equity	$457,178		$458,643		$447,388
Residential Mortgage	360,113		363,466		402,798
Consumer Installment	76,997		81,141		81,087
Construction	8,899		11,836		13,865
Total Consumer Loans	903,187		915,086		945,138
Commercial
Commercial Real Estate	1,422,761		1,428,329		1,401,484
Commercial & Industrial	715,178		701,650		809,980
Construction	357,277		359,342		362,253
Total Commercial Loans	2,495,216		2,489,321		2,573,717
Total Loans	$3,398,403		$3,404,407		$3,518,855
Nonperforming Loans (NPL)		% NPL		% NPL		% NPL
Consumer
Home Equity	$1,618	0.35%	$2,252	0.49%	$1,983	0.44%
Residential Mortgage	4,695	1.30%	5,583	1.54%	7,699	1.91%
Consumer Installment	99	0.13%	20	0.02%	205	0.25%
Construction	-	-	-	-	-	-
Total Consumer Loans	6,412	0.71%	7,855	0.86%	9,887	1.05%
Commercial
Commercial Real Estate	66,138	4.65%	53,789	3.77%	18,188	1.30%
Commercial & Industrial	3,356	0.47%	7,489	1.07%	35,035	4.33%
Construction	20,884	5.85%	21,674	6.03%	28,937	7.99%
Total Commercial Loans	90,378	3.62%	82,952	3.33%	82,160	3.19%
Total Nonperforming Loans	$96,790	2.85%	$90,807	2.67%	$92,047	2.62%

S&T Bancorp, Inc. Consolidated Selected Financial Data (Dollars in thousands, except per share data)						Page 3 of 4
	2010		2009
	First Quarter		Fourth Quarter		First Quarter
Construction and Commercial Real Estate (CRE) by Location
Pennsylvania	$1,425,369		$1,441,493		$1,462,159
New York	106,428		97,864		86,246
Ohio	68,277		68,189		63,026
North Carolina	20,113		19,848		14,794
Arizona	18,032		18,250		19,467
Florida	13,753		13,288		20,950
Southeast Region	54,701		50,713		35,464
Midwest Region	23,706		25,998		18,584
Southwest Region	13,552		13,270		9,349
Western Region	13,313		13,223		11,738
Mid-Atlantic Region	12,160		14,875		10,444
New England	10,634		10,660		11,516
Total Construction and CRE by Location	$1,780,038		$1,787,671		$1,763,737
Construction and Commercial Real Estate - NPL by Location		% NPL		% NPL		% NPL
Pennsylvania	$62,579	4.39%	$55,413	3.84%	$22,339	1.53%
New York	4,883	4.59%	5,847	5.97%	9,950	11.54%
Ohio	-	-	-	-	-	-
North Carolina	5,348	26.59%	169	0.85%	184	1.24%
Arizona	722	4.00%	990	5.42%	3,097	15.91%
Florida	3,301	24.00%	2,850	21.45%	-	-
Southeast Region	-	-	-	-	2,277	6.42%
Midwest Region	-	-	-	-	-	-
Southwest Region	2,717	20.05%	2,722	20.51%	1,013	10.83%
Western Region	-	-	-	-	-	-
Mid-Atlantic Region	-	-	-	-	-	-
New England	7,472	70.26%	7,472	70.10%	8,265	71.77%
Total Construction and CRE - NPL by Location	$87,022	4.89%	$75,463	4.22%	$47,125	2.67%
Construction and Commercial Real Estate by Type
Retail/Strip Malls	$295,630		$278,811		$291,388
Residential Rental Properties	284,807		268,813		259,593
Offices	239,746		247,098		248,271
Hotels	175,870		165,953		140,735
Manufacturing/Industrial/Warehouse	131,854		121,928		109,537
Real Estate Development - Commercial	108,141		106,762		116,832
Flex/Mixed Use	107,537		107,324		98,666
Healthcare/Education	99,632		101,500		94,549
Real Estate Development - Residential	83,718		83,352		109,393
Miscellaneous	253,103		306,130		294,773
Total Construction and CRE by Type	$1,780,038		$1,787,671		$1,763,737
Construction and Commercial Real Estate - NPL by Type		% NPL		% NPL		% NPL
Retail/Strip Malls	$4,373	1.48%	$4,998	1.79%	$4,930	1.69%
Residential Rental Properties	19,975	7.01%	5,255	1.95%	3,855	1.48%
Offices	1,296	0.54%	1,426	0.58%	7,543	3.04%
Hotels	2,095	1.19%	2,095	1.26%	-	-
Manufacturing/Industrial/Warehouse	4,262	3.23%	3,632	2.98%	-	-
Real Estate Development - Commercial	10,652	9.85%	10,493	9.83%	11,851	10.14%
Flex/Mixed Use	6,046	5.62%	6,113	5.70%	794	0.80%
Healthcare/Education	3,283	3.30%	3,566	3.51%	672	0.71%
Real Estate Development - Residential	9,043	10.80%	9,362	11.23%	8,172	7.47%
Miscellaneous	25,997	10.27%	28,523	9.32%	9,308	3.16%
Total Construction and CRE - NPL by Type	$87,022	4.89%	$75,463	4.22%	$47,125	2.67%

S&T Bancorp, Inc. Consolidated Selected Financial Data (Dollars in thousands, except per share data)				Page 4 of 4
	2010	2009
	First Quarter	Fourth Quarter	First Quarter
Asset Quality Data
Nonaccrual Loans and Nonperforming Loans	$96,790	$90,807	$92,047
Assets Acquired through Foreclosure or Repossession	3,087	4,607	1,452
Nonperforming Assets	99,877	95,414	93,499
Allowance for Loan Losses	63,023	59,580	59,847
Nonperforming Loans / Loans	2.85%	2.67%	2.62%
Nonperforming Assets / Loans plus OREO	2.94%	2.80%	2.66%
Allowance for Loan Losses / Loans	1.85%	1.75%	1.70%
Allowance for Loan Losses / Nonperforming Loans	65%	66%	65%
Net Loan Charge-offs (Recoveries)	987	11,699	4,231
Net Loan Charge-offs (Recoveries) (Annualized)/Average Loans	0.12%	1.36%	0.49%
Profitability Ratios (Annualized)
Common Return on Average Assets	0.96%	0.73%	-0.29%
Common Return on Average Tangible Common Assets (6)	1.00%	0.76%	-0.30%
Common Return on Average Shareholders' Equity	7.12%	5.56%	-2.34%
Common Return on Average Tangible Common Equity (7)	14.34%	11.42%	-4.53%
Yield on Earning Assets (FTE)	5.03%	5.06%	5.27%
Cost of Interest Bearing Funds	1.33%	1.46%	1.82%
Net Interest Margin (FTE)(4)	4.00%	3.94%	3.81%
Efficiency Ratio (FTE)(1)	57.79%	51.10%	53.28%
Capitalization Ratios
Dividends Paid to Net Income (Loss)	42.67%	54.31%	-273.87%
Common Equity to Assets (8)	11.01%	10.74%	10.26%
Leverage Ratio (2)	10.51%	10.26%	9.73%
Risk Based Capital - Tier I (3)	12.40%	12.10%	11.58%
Risk Based Capital - Total (3)	15.75%	15.43%	14.82%
Tangible Common Equity/Tangible Assets (8)	7.09%	6.84%	6.46%
Definitions and Reconciliation of GAAP to Non-GAAP Financial Measures:
(1) Recurring noninterest expense divided by recurring noninterest 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)	$16.39	$16.14	$16.01
Effect of Excluding Intangible Assets	(6.27)	(6.29)	(6.33)
Tangible Common Book Value	$10.12	$9.85	$9.68
(6) Common Return on Average Tangible Common Assets
Common Return on Average Assets (GAAP Basis)	0.96%	0.73%	-0.29%
Effect of Excluding Intangible Assets	0.04%	0.03%	-0.01%
Common Return on Average Tangible Common Assets	1.00%	0.76%	-0.30%
(7) Common Return on Average Tangible Common Equity
Common Return on Average Equity (GAAP Basis)	7.12%	5.56%	-2.34%
Effect of Excluding Intangible Assets	3.97%	3.24%	-1.08%
Effect of Excluding Preferred Stock	3.25%	2.62%	-1.11%
Common Return on Average Tangible Common Equity	14.34%	11.42%	-4.53%
(8) Tangible Common Equity / Tangible Assets
Common Equity / Assets (GAAP Basis)	11.01%	10.74%	10.26%
Effect of Excluding Intangible Assets	-3.92%	-3.90%	-3.80%
Tangible Common Equity / Tangible Assets	7.09%	6.84%	6.46%