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ANNUAL REPORT
PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF
1934
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¨
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TRANSITION
REPORT PURSUANT TO SECTION 15 (d) OF THE
SECURITIES
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Report
of Independent Registered Public Accounting Firm
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1
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Audited
Financial Statements
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Statements
of Net Assets Available for Benefits
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2
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Statements
of Changes in Net Assets Available for Benefits
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3
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Notes
to Financial Statements
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5
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Supplemental
Schedule
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Schedule
H, Line 4i—Schedule of Assets (Held at End of Year)
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4
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Signatures
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14
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December 31
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||||||||
2009
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2008
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|||||||
Cash
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$ | 11,411 | $ | 9,425 | ||||
Participant-directed
investments:
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||||||||
Short-term
investment funds
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6,788,733 | 9,585,047 | ||||||
Mutual
funds
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33,253,744 | 22,994,807 | ||||||
S&T
Bancorp, Inc. common stock
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16,233,578 | 29,243,054 | ||||||
Total
Participant-directed investments
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56,276,055 | 61,822,908 | ||||||
Receivables:
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||||||||
Receivable
from Plan Sponsor
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- | 1,037,660 | ||||||
Receivable
from Employees
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14,490 | 4,797 | ||||||
Accrued
interest and dividends
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4,441 | 299,015 | ||||||
18,931 | 1,341,472 | |||||||
Payables
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- | 3,667 | ||||||
Net
assets available for benefits
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$ | 56,306,397 | $ | 63,170,138 |
Years ended December 31
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||||||||
2009
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2008
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Additions
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Contributions:
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Employer
(participant accounts)
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$ | 1,159,121 | $ | 2,106,908 | ||||
Employee—payroll
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$ | 2,823,712 | 2,622,575 | |||||
Employee—rollover
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$ | 83,859 | 1,881,989 | |||||
4,066,692 | 6,611,472 | |||||||
Investment
income:
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Dividends
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$ | 1,194,889 | 1,521,112 | |||||
$ | 5,261,581 | $ | 8,132,584 | |||||
Deductions
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||||||||
Distributions
to participants
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$ | (3,189,318 | ) | (6,505,235 | ) | |||
Net
realized and unrealized depreciation in aggregate fair value of
investments
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$ | (8,936,004 | ) | (4,919,757 | ) | |||
(12,125,322 | ) | (11,424,992 | ) | |||||
Net
decrease
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$ | (6,863,741 | ) | (3,292,408 | ) | |||
Net
assets available for benefits at beginning of year
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63,170,138 | 66,462,546 | ||||||
Net
assets available for benefits at end of year
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$ | 56,306,397 | $ | 63,170,138 |
(c)
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|||||||||
Description of
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|||||||||
(b)
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Investment, Including
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(e)
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|||||||
Identity of Issuer, Borrower,
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Number of Units
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Current
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|||||||
Lessor or Similar Party
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or Shares Held
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Value
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Cash
Pending Investment
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11,411 |
Units
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$ | 11,411 | |||||
Federated
Prime Obligations Fund
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6,788,733 |
Units
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$ | 6,788,733 | |||||
Mutual
Funds:
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Dodge
& Cox Balanced Fund
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106,813 |
Units
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$ | 6,839,215 | |||||
Columbia
Acorn Fund
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192,491 |
Units
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$ | 4,750,684 | |||||
PIMCO
Total Return Fixed Income Fund
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633,054 |
Units
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$ | 6,836,979 | |||||
Selected
American Large Cap Growth
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85,316 |
Units
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$ | 3,178,027 | |||||
Harbor
International Fund
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71,811 |
Units
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$ | 3,940,254 | |||||
Vanguard
Index 500 Fund
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37,813 |
Units
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$ | 3,206,933 | |||||
Vanguard
Mid-Cap Index Fund
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100,809 |
Units
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$ | 2,361,957 | |||||
Stewart
Capital Mid Cap Index Fund*
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228,914 |
Units
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$ | 2,122,029 | |||||
Oakmark
International Small Cap Fund
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1,486 |
Units
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$ | 17,665 | |||||
Total
Mutual Funds
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$ | 33,253,744 | |||||||
S&T
Bancorp, Inc.*
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954,355 |
Shares
of Common Stock
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$ | 16,233,578 | |||||
Total
assets held at end of year
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$ | 56,287,466 |
2.
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Summary
of Significant Accounting Policies
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2.
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Summary
of Significant Accounting Policies
(continued)
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Assets at Fair Value as of December 31, 2009
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Level
1
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Level
2
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Level
3
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Total
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Money
Market Fund
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$ | 6,788,733 | $ | - | $ | - | $ | 6,788,733 | ||||||||
Mutual
Funds:
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Moderate
Allocation
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$ | 6,836,980 | $ | - | $ | - | $ | 6,836,980 | ||||||||
Intermediate-term
Bond
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6,837,627 | - | - | 6,837,627 | ||||||||||||
Large
Blend
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6,384,960 | - | - | 6,384,960 | ||||||||||||
Mid-cap
Growth
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4,750,684 | - | - | 4,750,684 | ||||||||||||
Mid-cap
Blend
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4,483,986 | - | - | 4,483,986 | ||||||||||||
Foreign
Accounts
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3,957,919 | 3,957,919 | ||||||||||||||
Total
Mutual Funds
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$ | 33,253,744 | $ | - | $ | - | $ | 33,253,744 | ||||||||
Common
Stocks
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$ | 16,233,578 | $ | - | $ | - | $ | 16,233,578 | ||||||||
Total
Assets at Fair Value
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$ | 56,276,055 | $ | - | $ | - | $ | 56,276,055 |
2.
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Summary
of Significant Accounting Policies
(continued)
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Assets at Fair Value as of December 31, 2008
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Level
1
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Level
2
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Level
3
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Total
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Money
Market Fund
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$ | 9,585,047 | $ | - | $ | - | $ | 9,585,047 | ||||||||
Mutual
Funds
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$ | 22,994,807 | $ | - | $ | - | $ | 22,994,807 | ||||||||
Common
Stocks
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$ | 29,243,054 | $ | - | $ | - | $ | 29,243,054 | ||||||||
Total
Assets at Fair Value
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$ | 61,822,908 | $ | - | $ | - | $ | 61,822,908 |
2.
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Summary
of Significant Accounting Policies
(continued)
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3.
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Investments
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2009
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2008
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Mutual
Funds
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$ | 6,840,652 | $ | (11,588,346 | ) | |||
S&T
Bancorp, Inc.
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$ | (15,776,656 | ) | $ | 6,668,589 | |||
Net
Depreciation
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$ | (8,936,004 | ) | $ | (4,919,757 | ) |
3.
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Investments
(continued)
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December 31
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December 31
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|||||||||||||||
Investment
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2009
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2008
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2009
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2008
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Shares
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$
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S&T
Bancorp, Inc.
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954,355 | 823,748 | $ | 16,223,578 | $ | 29,243,054 | ||||||||||
Dodge
& Cox Balanced Fund
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106,813 | 104,842 | $ | 6,839,215 | $ | 5,374,210 | ||||||||||
PIMCO
Total Return Fixed Income Fund
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633,054 | 491,347 | $ | 6,836,979 | $ | 4,982,257 | ||||||||||
Federated
Prime Obligations Fund
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6,788,733 | 9,585,047 | $ | 6,788,733 | $ | 9,585,047 | ||||||||||
Columbia
Acorn Fund
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192,491 | 178,725 | $ | 4,750,684 | $ | 3,165,225 | ||||||||||
Harbor
International Fund
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71,811 | 66,765 | $ | 3,940,254 | $ | 2,678,628 | ||||||||||
Vanguard
Index 500 Fund1
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37,813 | 28,358 | $ | 3,206,933 | $ | 1,449,650 | ||||||||||
Selected
American Large Cap Growth
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85,316 | 78,796 | $ | 3,178,027 | $ | 2,245,686 |
4.
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Transactions
with Parties-in-Interest
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5.
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Income
Tax Status
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6.
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Risks
and Uncertainties
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7.
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Plan
Termination
|
Thrift
Plan for Employees of S&T
Bank
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June
25, 2010
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/s/ Mark Kochvar
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Mark
Kochvar
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Senior
Executive Vice President &
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Chief
Financial Officer
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