CNB Financial to acquire ESSA Bancorp for $214m.

CNB Financial, the parent company of CNB Bank, agreed to acquire ESSA Bancorp, the parent company of ESSA Bank & Trust, for $214m. “CNB is a powerful partner for our bank that closely mirrors our culture and values, making the transaction a natural fit. CNB’s multi-state, multi-brand business model fosters our entrepreneurial spirit, and continues our commitment and presence in eastern Pennsylvania. Leveraging CNB’s infrastructure and robust capital position, suite of banking products, and combined larger lending limit, will further enhance our community banking model, and continue to serve our new and existing customers extremely well," Gary S. Olson, ESSA President, CEO, and Director.