CNB Financial Corporation and ESSA Bancorp, Inc. Receive Bank Regulatory Approvals for Merger

Core Viewpoint - CNB Financial Corporation and ESSA Bancorp Inc. have received necessary regulatory approvals to proceed with their proposed merger, which is expected to close on July 23, 2025, pending customary closing conditions [1][2]. Group 1: Merger Details - The merger involves ESSA merging with CNB in an all-stock transaction, followed by the merger of ESSA Bank with CNB Bank [2]. - The Federal Deposit Insurance Corporation and the Pennsylvania Department of Banking and Securities have approved the merger, and CNB received a waiver from the Federal Reserve Bank of Philadelphia [1][2]. Group 2: Company Profiles - CNB Financial Corporation has consolidated assets of approximately $6.3 billion and operates through its principal subsidiary, CNB Bank, which offers a full range of banking services across multiple states [3]. - ESSA Bancorp, Inc. has total assets of $2.2 billion and operates 19 community offices, providing a full range of commercial and retail financial services [4].