Company: STBA
Filing Date: 2025-06-23
Form Type: 11-K
Source: 0000719220-25-000040
Chunk: 5

Company: S&T BANCORP INC
Filing Date: 2025-06-23
Form: 11-K
Chunk 5
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 vested immediately in their contributions plus actual earnings thereon. Once the Participant completes two years of service with the Employer, Employer matching contributions and Employer discretionary contributions and the earnings thereon become 100% vested.

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#### Notes Receivable from Participants
The Plan does not provide for notes receivable from participants.

#### Payment of Benefits
Upon termination of service from the Employer, a participant may elect to receive a lump sum amount equal to the value of the participant’s vested interest in their account.

Retired participants may take partial distributions as frequently as once a quarter, however, they are required to receive a lump sum distribution at age 73 under Section 401(a)(9) of the Internal Revenue Code of 1986, as amended (the “Code”).

Terminated participants whose vested account balance is at least $1,000 but not more than $5,000 are subject to a mandatory rollover if the participant fails to make an affirmative election to either receive a lump sum payment or directly roll over the balance to an eligible plan. The participant’s account will be transferred to an individual retirement plan selected by the Thrift Plan Committee. Terminated participants whose vested account balance is less than $1,000 are subject to a mandatory lump sum distribution if the participant fails to make an affirmative election to either receive a lump sum payment or directly roll over the balance to an eligible plan.

#### Forfeited Accounts
As of December 31, 2024 and 2023, participant forfeited accounts approximated $163,000 and $105,000, respectively. Forfeitures are used to reduce future Employer contributions. Forfeitures applied to Employer contributions in 2024 and 2023 approximated $149,000 and $100,000, respectively.

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| 2. |     | Summary of Significant Accounting Policies |

A summary of significant accounting policies consistently applied by management in the preparation of the accompanying financial statements follows:

#### Basis of Accounting
The financial statements of the Plan have been prepared on the accrual basis of accounting.

#### Use of Estimates
The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes therein and disclosures of contingent assets and liabilities. Actual results could differ from those estimates.

#### Investment Valuation and Income Recognition
Investments are reported at estimated fair value. Fair value is the price that would be received