BRIEF-CNB Financial And ESSA Bancorp Announce Strategic Merger

Reuters

01/10

Jan 10 (Reuters) - CNB Financial Corp :

* CNB FINANCIAL CORPORATION AND ESSA BANCORP, INC. ANNOUNCE STRATEGIC MERGER

* ESSA BANCORP INC - DEAL VALUED AT $214 MILLION, OR $21.10 PER ESSA SHARE

* ESSA BANCORP INC - SHAREHOLDERS TO RECEIVE 0.8547 CNB SHARES PER ESSA SHARE

* ESSA BANCORP INC - MERGER EXPECTED TO BE 35% ACCRETIVE TO CNB EPS IN 2026

* ESSA BANCORP INC: CNB AND CNB BANK WILL EACH ADD THREE DIRECTORS FROM ESSA TO THEIR RESPECTIVE BOARDS

Source text: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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