CNB Financial Acquires ESSA Bancorp in All-Stock $214 Million Deal

CNB Financial Corporation (CCNE) entered a merger agreement on January 10, 2025, to acquire ESSA Bancorp, Inc. (ESSA) in an all-stock deal valued at $214 million.

Deal Structure:

Under the terms of the agreement, ESSA shareholders will receive 0.8547 shares of CNB common stock for each share of ESSA, which values ESSA at approximately $21.10 per share, representing a 13.26% premium from the stock’s last close.

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