S&T Bancorp and Gateway Bank of Pennsylvania to Merge
S&T Bancorp, Inc. (NASDAQ: STBA) and Gateway Bank of Pennsylvania jointly announced today the signing of a definitive merger agreement pursuant to which S&T Bancorp will acquire Gateway in a 75% stock and 25% cash transaction. Based in McMurray, Pennsylvania, Gateway has assets of $120 million and maintains two branches.
The in-market transaction will expand S&T Bancorp's existing footprint in the northern and southern suburbs of Pittsburgh, and the combined company will have more than $4.4 billion in assets, inclusive of S&T Bancorp's recently completed acquisition of Mainline Bancorp, Inc.
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