Sterne Agee Reiterates S&T Bancorp Neutral

Sterne Agee reiterated its S&T Bancorp (STBA) Neutral rating in a research report published today. In the report, Sterne Agee notes, "On September 14, 2011, S&T Bancorp, Inc. announced the acquisition of Mainline Bancorp, Inc. (MNPA, $23.50, Not Rated). In our opinion the acquisition is a good geographic fit increasing S&T's presence in Blair and Cambria counties, PA. Due to S&Ts premium tangible book value multiple and forecasted cost savings of 40%, we believe the Mainline acquisition is a rational option to grow the franchise in a traditionally slow growth market." Shares of S&T Bancorp closed today at $17.46, down 1.97% from Thursday's market close.