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S&T Bancorp in Indiana, Pa., announced late Wednesday that it is buying Mainline Bancorp Inc. in Ebensburg, Pa., for roughly $21.5 million in cash and stock.
September 15
S&T Bancorp Inc. in Indiana, Pa., said Wednesday that it had redeemed its preferred stock that it sold to the Treasury Department as part of the Troubled Asset Relief Program.
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The $4.1 billion-asset S&T said it used available cash to to redeem the $108.7 million of stock it issued in January 2009. The company said that its "strong capital position" allowed for the repurchase without having to raise additional capital or debt. At Sept. 30, S&T Bank had a core capital leverage ratio of 8.12% and a Tier 1 risk-based capital ratio of 10.3%.
