Review / Pittsburgh Tribune – Review – S&T Bancorp earns $7.9 million in quarter
28th July
S&T Bancorp earns $7.9 million in quarter
0 Comments | Tribune – Review / Pittsburgh Tribune – Review, Jul 19, 2010 | by Thomas Olson
S&T Bancorp. Inc. posted quarterly earnings of nearly $7.9 million Monday, compared with a loss of $10.2 million the year earlier.
The main reason was the level of loan-loss provisions, which dropped to $9.1 million from more than $32 million in the 2009 period. The amounts are set aside to cover losses from loans that go sour.
“While our loan portfolio is beginning to show signs of stabilization, we are cognizant of the fact the economic recovery has not fully taken shape,” CEO Todd Brice said
construction loans
