CNB Financial Corporation and ESSA Bancorp Inc. announced they have received all necessary bank regulatory approvals to complete their proposed merger. This includes approvals from the Federal Deposit Insurance Corporation and the Pennsylvania Department of Banking and Securities for the merger of ESSA Bank & Trust with and into CNB Bank.
Additionally, CNB received a waiver from the Federal Reserve Bank of Philadelphia regarding any application for the merger of ESSA with and into CNB. These approvals mark a critical milestone in the integration process of the two financial institutions.
The merger is now expected to close on July 23, 2025, as planned. This development clears a significant regulatory hurdle, paving the way for the creation of an expanded regional banking presence.
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