Attached files

file filename
EX-23 - CONSENT OF KPMG LLP - S&T BANCORP INCdex23.htm
EX-32 - SECTION 906 CERTIFICATION FOR THE CEO & CFO - S&T BANCORP INCdex32.htm
EX-21 - SUBSIDIARIES OF THE REGISTRANT - S&T BANCORP INCdex21.htm
EX-24 - POWER OF ATTORNEY - S&T BANCORP INCdex24.htm
EX-99.1 - CERTIFICATION OF THE CEO PURSUANT TO 31 C.F.R. 30.15 - S&T BANCORP INCdex991.htm
EX-31.1 - SECTION 302 CERTIFICATION FOR THE CEO - S&T BANCORP INCdex311.htm
EX-31.2 - SECTION 302 CERTIFICATION FOR THE CFO - S&T BANCORP INCdex312.htm
10-K - FORM 10-K - S&T BANCORP INCd10k.htm

Exhibit 99.2

 

CERTIFICATION

PURSUANT TO 31 C.F.R. § 30.15

 

I, Wendy S. Bell, certify, based on my knowledge, that:

 

(i) The compensation committee of S&T Bancorp, Inc. has discussed, reviewed, and evaluated with senior risk officers at least every six months during the period beginning on the later of the closing date of the agreement between the TARP recipient and Treasury or June 15, 2009 and ending with the last day of the TARP recipient’s fiscal year containing that date, the senior executive officer (SEO) compensation plans and the employee compensation plans and the risks these plans pose to S&T Bancorp, Inc.;

(ii) The compensation committee of S&T Bancorp, Inc. has identified and limited during the period beginning on the later of the closing date of the agreement between the TARP recipient and the Treasury or June 15, 2009 and ending with the last day of the TARP recipient’s fiscal year containing that date, the features of the SEO compensation plans that could lead SEOs to take unnecessary and excessive risks that could threaten the value of S&T Bancorp, Inc., and identified any features in the employee compensation plans that pose risks to S&T Bancorp, Inc. and has limited those features to ensure that S&T Bancorp, Inc. is not unnecessarily exposed to risks;

(iii) The compensation committee has reviewed at least every six months during the period beginning on the later of the closing date of the agreement between the TARP recipient and Treasury or June 15, 2009 and ending with the last day of the TARP recipient’s fiscal year containing that date, the terms of each employee compensation plan and identified any features of the plan that could encourage the manipulation of reported earnings of S&T Bancorp, Inc. to enhance the compensation of an employee and has limited those features;

(iv) The compensation committee of S&T Bancorp, Inc. will certify to the reviews of the SEO compensation plans and employee compensation plans required under (i) and (iii) above;

(v) The compensation committee of S&T Bancorp, Inc. will provide a narrative description of how it limited during any part of the most recently completed fiscal year that included a TARP period the features in

(a) SEO compensation plans that could lead SEOs to take unnecessary and excessive risks that could threaten the value of S&T Bancorp, Inc.;

(b) Employee compensation plans that unnecessarily expose S&T Bancorp, Inc. to risks; and

(c) Employee compensation plans that could encourage the manipulation of reported earnings of S&T Bancorp, Inc. to enhance the compensation of an employee;

(vi) S&T Bancorp, Inc. has required that bonus payments, as defined in the regulations and guidance established under section 111 of EESA (bonus payments), of SEOs and twenty next most highly compensated employees be subject to a recovery or “clawback” provision during any part of the most recently completed fiscal year that was a TARP period if the bonus payments were based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria;

(vii) S&T Bancorp, Inc. has prohibited any golden parachute payment, as defined in the regulations and guidance established under section 111 of EESA, to a SEO or any of the next five most highly compensated employees during the period beginning on the later of the closing date of the agreement between the TARP recipient and Treasury or June 15, 2009 and ending with the last day of the TARP recipient’s fiscal year containing that date;

(viii) S&T Bancorp, Inc. has limited bonus payments to its applicable employees in accordance with Section 111 of EESA and the regulations and guidance established thereunder during the period beginning on the later of the closing date of the agreement between the TARP recipient and the Treasury or June 15, 2009 and ending with the last day of the TARP recipient’s fiscal year containing that date,

(ix) The board of directors of S&T Bancorp, Inc. has established an excessive or luxury expenditures policy, as defined in the regulations and guidance established under section 111 of EESA, has provided this policy to Treasury and its primary regulatory agency and S&T Bancorp, Inc.


and its employees have complied with this policy during the period beginning on the later of the closing date of the agreement between the TARP recipient and the Treasury or June 15, 2009 and ending with the last day of the TARP recipient’s fiscal year containing that date, and that any expenses requiring approval of the board of directors, a committee of the board of directors, an SEO, or an executive officer with a similar level of responsibility, were properly approved;

(x) S&T Bancorp, Inc. will permit a non-binding shareholder resolution in compliance with any applicable federal securities rules and regulations on the disclosures provided under the federal securities laws related to SEO compensation paid or accrued during the period beginning on the later of the closing date of the agreement between the TARP recipient and Treasury or June 15, 2009 and ending with the last day of the TARP recipient’s fiscal year containing that date;

(xi) S&T Bancorp, Inc. will disclose the amount, nature, and justification for the offering during the period beginning on the later of the closing date of the agreement between the TARP recipient and Treasury or June 15, 2009 and ending with the last day of the TARP recipient’s fiscal year containing that date of any perquisites, as defined in the regulations and guidance established under section 111 of EESA, whose total value exceeds $25,000 for any employee who is subject to the bonus payment limitations identified in paragraph (viii);

(xii) S&T Bancorp, Inc. will disclose whether S&T Bancorp, Inc., the board of directors of S&T Bancorp, Inc., or the compensation committee of S&T Bancorp, Inc. has engaged during the period beginning on the later of the closing date of the agreement between the TARP recipient and Treasury or June 15, 2009 and ending with the last day of the TARP recipient’s fiscal year containing that date, a compensation consultant; and the services the compensation consultant or any affiliate of the compensation consultant provided during this period;

(xiii) S&T Bancorp, Inc. has prohibited the payment of any gross-ups, as defined in the regulations and guidance established under section 111 of EESA, to the SEOs and the next twenty most highly compensated employees during the period beginning on the later of the closing date of the agreement between the TARP recipient and Treasury or June 15, 2009 and ending with the last day of the TARP recipient’s fiscal year containing that date;

(xiv) S&T Bancorp, Inc. has substantially complied with all other requirements related to employee compensation that are provided in the agreement between S&T Bancorp, Inc. and Treasury, including any amendments;

(xv) S&T Bancorp, Inc. has submitted to Treasury a complete and accurate list of the SEOs and the twenty next most highly compensated employees for the current fiscal year, with the non-SEOs ranked in descending order of level of annual compensation, and with the name, title, and employer of each SEO and most highly compensated employee identified; and

(xvi) I understand that a knowing and willful false or fraudulent statement made in connection with this certification may be punished by fine, imprisonment, or both.

 

Date: February 26, 2010

 

/s/ Wendy S. Bell

Wendy S. Bell
Senior Vice President, Controller and Chief Accounting Officer
(Principal Financial and Accounting Officer)