CNB Financial completes merger with ESSA Bancorp, expands to Northeast.

CNB Financial Corporation has completed its merger with ESSA Bancorp, Inc., expanding its branch network to 78 across four states. ESSA's 20 community offices will operate under the ESSA Bank brand as a division of CNB Bank. The merger extends CNB Bank's presence into the Northeastern Region, including the Lehigh Valley of Pennsylvania.

CNB Financial Corporation ("CNB") has completed its merger with ESSA Bancorp, Inc. ("ESSA"), significantly expanding its branch network. As of July 23, 2025, CNB's subsidiary bank, CNB Bank, has absorbed ESSA's subsidiary bank, ESSA Bank & Trust. The combined entity now operates with 78 branches across four states, including Pennsylvania, Ohio, New York, and Virginia [1][2].

The merger has extended CNB Bank's presence into the Northeastern Region, particularly the Lehigh Valley of Pennsylvania. ESSA's 20 community offices will continue to operate under the ESSA Bank brand as a division of CNB Bank. This strategic move aims to enhance CNB's service area and leverage ESSA's established relationships with customers and communities in the region.

Michael D. Peduzzi, CNB President and CEO, expressed his satisfaction with the merger, stating, "We are so pleased to welcome ESSA Bank & Trust customers and employees into the CNB family as a result of this merger. Adding the ESSA markets to our service area, with branches and employees that have a very similar cultural and service-based focus, is a natural extension of our brand and our operating profile. We believe this merger will catalyze greater achievement of our strategic asset and profitability growth objectives by embracing these vibrant markets in Northeastern Pennsylvania" [1][2].

In accordance with the merger agreement, Gary S. Olson (ESSA CEO), Robert C. Selig Jr. (ESSA Chairman), and Daniel J. Henning (ESSA Director) have been appointed to three new CNB and CNB Bank board seats. Additionally, CNB Bank has formed an Advisory Board for the ESSA Bank division. The financial and legal advisors involved in the merger include Stephens Inc., Hogan Lovells US LLP, Piper Sandler & Co, PNC FIG Advisory, and Luse Gorman, PC [1][2].

CNB Financial Corporation is a financial holding company with consolidated assets in excess of $8.0 billion, conducting business primarily through its principal subsidiary, CNB Bank. CNB Bank provides a full range of banking activities and services, including trust and wealth management services, for individual, business, governmental, and institutional customers [1][2].

References:
[1] https://finance.yahoo.com/news/cnb-financial-corporation-completes-merger-120000261.html
[2] https://www.morningstar.com/news/globe-newswire/9499865/cnb-financial-corporation-completes-merger-with-essa-bancorp-inc