#United States #Board of Directors #Indiana #S&T Bancorp #Frank Palermo

S&T Bancorp Celebrates Frank J. Palermo, Jr.'s Twelve Years of Dedication

S&T Bancorp, Inc., the parent company of S&T Bank, has recently acknowledged the significant contributions of Frank J. Palermo, Jr. to its Board of Directors. After an impressive tenure of twelve years, Palermo is set to retire, having reached the mandatory retirement age as per the company’s corporate governance policies.

Replacing or reshuffling board members can often be a daunting task for any corporation, but the retirement of an individual with such an extensive background in finance and public service is particularly poignant. The announcement was made on May 6, 2025, just ahead of the company's Annual Meeting of Shareholders scheduled for May 13, 2025.

A Remarkable Journey

Palermo has been a crucial player at S&T Bancorp since joining the board. His experience and insight, especially in financial matters, have made him an invaluable asset during his service. As the managing shareholder of the esteemed accounting firm, Palermo, Kissinger & Associates, P.C., he has enriched the board with his traditional approach to fiscal responsibility combined with a keen understanding of modern challenges.

Additionally, his involvement in the formation of Gateway Bank of Pennsylvania can be credited to his notable leadership as chair of its audit committee between 2004 and 2012. This bank's eventual acquisition by S&T highlighted Palermo's impact on the banking landscape across the state. Beyond his role in institutional finance, Palermo frequently contributed to discussions on strategic decisions that shaped the bank’s direction, particularly in his position as chair of the audit committee at S&T, where he deftly navigated complex regulatory considerations.

Board Reflections

Christine Toretti, Chair of S&T's Board of Directors, reflected on Palermo’s service, stating, "Frank's experience and knowledge made him a valuable asset to ST Bancorp and the Board of Directors, and we wish him well in his retirement." This sentiment resonates well within the financial community, as many industry peers recognize his unwavering commitment and astute judgment over the years.

Chris McComish, the CEO, also praised Palermo’s contributions in a statement: "Frank's extensive background in finance brought strategic fiscal expertise and perspectives to our board, particularly in his role as chair of ST's audit committee. We thank him for his contributions and dedication since 2013." This robust acknowledgment underlines the profound respect he has earned from his colleagues.

Future Endeavors

As Frank embarks on this new chapter of his life, the bank is thankful for his contributions and dedication, which undoubtedly set a high bar for future board members. Palermo plans to serve the remainder of his term until the expiration of his tenure, allowing for a smooth transition of leadership and ongoing strategies for S&T Bancorp.

S&T Bancorp, Inc. operates with a focus on delivering exemplary services and ensuring responsible financial stewardship, values that Palermo has exemplified throughout his career. As he steps away from his active role on the board, the legacies of his endeavors will inform future decisions and direction for S&T Bancorp and its stakeholders.

The bank, which boasts a robust portfolio of $9.7 billion, has continued to thrive under principled leadership and innovative strategies. Established in 1902, S&T Bank operates in Pennsylvania and Ohio, working to enhance customer experiences shaped by community engagement and expert advice.

In conclusion, as S&T Bancorp bids farewell to a distinguished member of its board, it embraces a future with optimism and commitment — stepping boldly into new possibilities shaped by past successes and ongoing guidance from its leadership.