BRIEF-CNB Financial And ESSA Bancorp Announce Strategic Merger-March 2024-www.financetom.com

BRIEF-CNB Financial And ESSA Bancorp Announce Strategic Merger

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BRIEF-CNB Financial And ESSA Bancorp Announce Strategic Merger

Jan 10, 2025 5:01 AM

Jan 10 (Reuters) - CNB Financial Corp ( CCNE ):

* CNB FINANCIAL CORPORATION AND ESSA BANCORP, INC. ANNOUNCE

STRATEGIC MERGER

* ESSA BANCORP INC ( ESSA ) - DEAL VALUED AT $214 MILLION, OR $21.10

PER

ESSA SHARE

* ESSA BANCORP INC ( ESSA ) - SHAREHOLDERS TO RECEIVE 0.8547 CNB

SHARES PER

ESSA SHARE

* ESSA BANCORP INC ( ESSA ) - MERGER EXPECTED TO BE 35% ACCRETIVE TO

CNB

EPS IN 2026

* ESSA BANCORP INC ( ESSA ): CNB AND CNB BANK WILL EACH ADD THREE

DIRECTORS

FROM ESSA TO THEIR RESPECTIVE BOARDS

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