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FOR RELEASE: Monday, September 18, 2006

Contact:
Neil Cotiaux, FHLBank Pittsburgh: 412-288-2851; cell: 412-335-9488
G. Robert Jorgenson Jr., senior vice president, S&T Bank, 724-465-5448

S&T BANK WINS PILLARS AWARD FOR EXCELLENCE IN COMMUNITY-BUILDING: ANNUAL AWARD FROM FHLBANK PITTSBURGH HIGHLIGHTS HOUSING, BUSINESS

PITTSBURGH, PA, September 18, 2006 — S&T Bank, a 104-year-old Indiana, PA-based community bank serving western Pennsylvania through 51 offices, is the 2006 recipient of a Pillars of the Community Award for outstanding leadership in the area of community commitment. The award was presented to S&T Bank management during the grand opening of S&T Bank's new corporate headquarters in Indiana, PA today.

"Each year, FHLBank Pittsburgh honors a select group of members that have applied a multitude of resources in the relentless pursuit of community-building," said John R. Price, president and chief executive officer of FHLBank Pittsburgh, a wholesale lender of low-cost financing to community banks across Pennsylvania, Delaware and West Virginia and part of the Federal Home Loan Bank System. "These Pillars of the Community recipients exemplify outstanding leadership and a civic commitment that sets them apart. Homes become affordable, businesses create jobs, neighborhoods gain new vitality and families prosper, thanks to these very special banks."

FHLBank Pittsburgh selected S&T Bank as a 2006 Pillars recipient due to its exemplary work in both affordable housing and support of local business growth. In 2005, S&T Bank utilized nearly $6 million in Community Lending Program (CLP) financing from FHLBank Pittsburgh, assisting seven development projects in its service area. One CLP loan helped to fund a three-story medical building adjacent to Clarion Hospital, while another financed building expansion for a local manufacturer of circuit boards employing approximately 40 in Export, PA. Other loans funded nearly 90 units of housing for seniors across the western part of the state.

Also in 2005, S&T Bank invested more than $2 million in low-income housing tax credits to support affordable housing projects locally, and funded more than $200,000 through the Pennsylvania Educational Tax Credit and Neighborhood Assistance programs. In addition, the bank made nearly one-half-million dollars in donations to community nonprofit organizations including the American Red Cross, several YMCAs, affordable housing developers, libraries and youth groups.

In recognition of S&T Bank's contributions to the community, FHLBank Pittsburgh is making a $1,000 donation to the Housing Authority of Indiana County.

The Federal Home Loan Bank of Pittsburgh (FHLBank Pittsburgh) is a wholesale bank that serves the housing finance and community and economic development needs of its owner-members. The Bank provides reliable access to low-cost funds, competitive pricing in the purchase of mortgage loans, correspondent banking, technical assistance, affordable housing grants and other programs so members can better serve their own communities. The Bank is privately capitalized and funded, does not use taxpayer dollars, and enjoys a triple-A rating. It currently has 333 members in its district of Delaware, Pennsylvania and West Virginia and approximately $74.7 billion in assets. FHLBank Pittsburgh is one of twelve Banks in the Federal Home Loan Bank System, established by Congress in 1932 to support the residential mortgage activities of local financial institutions.