# EDGAR Filing Document

**Accession Number:** 0001382230
**File Stem:** 0000943374-23-000144
**Filing Date:** 2023-3
**Character Count:** 12268
**Document Hash:** 8a0a65fe5dadacd76f6e6b3365a0d429
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000943374-23-000144.hdr.sgml**: 20230309

**ACCESSION NUMBER**: 0000943374-23-000144

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 28

**CONFORMED PERIOD OF REPORT**: 20230309

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230309

**DATE AS OF CHANGE**: 20230309

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ESSA Bancorp, Inc.
- **CENTRAL INDEX KEY:** 0001382230
- **STANDARD INDUSTRIAL CLASSIFICATION:** SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED [6036]
- **IRS NUMBER:** 208023072
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-33384
- **FILM NUMBER:** 23718445

**BUSINESS ADDRESS:**
- **STREET 1:** 200 PALMER STREET
- **CITY:** STROUDSBURG
- **STATE:** PA
- **ZIP:** 18360
- **BUSINESS PHONE:** (570) 421-0531

**MAIL ADDRESS:**
- **STREET 1:** 200 PALMER STREET
- **CITY:** STROUDSBURG
- **STATE:** PA
- **ZIP:** 18360

#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### WASHINGTON, D.C. 20549

#### FORM 8-K

#### CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): March 9, 2023

<u>ESSA Bancorp, Inc.</u> 

(Exact Name of Registrant as Specified in its Charter)

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| | | |
|:---|:---|:---|
| <u>Pennsylvania</u><br>| <u>001-33384</u> | <u>20-8023072</u><br>|
| (State or Other Jurisdiction) | (Commission File No.) | (I.R.S. Employer |
| of Incorporation) | | Identification No.) |
| <u>200 Palmer Street, Stroudsburg, Pennsylvania</u> | <u>200 Palmer Street, Stroudsburg, Pennsylvania</u> | <u>18360</u><br>|
| (Address of Principal Executive Offices) | (Address of Principal Executive Offices) | (Zip Code) |

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Registrant's telephone number, including area code: (570) 421-0531

<u>Not Applicable</u>

(Former Name or Former Address, if Changed Since Last Report)

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common<br>| ESSA | The Nasdaq Stock Market LLC<br>|

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 7.01 Regulation FD Disclosure.**

ESSA Bancorp, Inc. (the "Company") will make a presentation at its 2023 Annual Meeting of Stockholders to be held on March 9, 2023, at 10:00 a.m., Eastern Time. The presentation provides an overview of the Company's business and strategic focus and the Company's financial performance. A copy of the presentation is attached as Exhibit 99.1 to this report and is being furnished to the SEC and shall not be deemed "filed" for any purpose.

**Item 9.01 Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Financial Statements of Businesses Acquired. Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Pro Forma Financial Information. Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Shell Company Transactions. Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits.

Exhibit No. Description

[99.1](ex99-1_8k030923.htm) [Slide presentation to be made at the Company's 2023 Annual Meeting of Stockholders on March 9, 2023.](ex99-1_8k030923.htm)

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

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#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  |  | **ESSA BANCORP, INC.**<br>|
| DATE: March 9, 2023 | By: <br>| <u>/s/ Gary S. Olson</u> |
|  |  | Gary S. Olson, President and |
|  |  | Chief Executive Officer |

---

## Exhibit 99.1

**EXHIBIT 99.1**<br>

![](ex99-1_8k030923slide1.jpg)

2022 Annual Shareholder Meeting March 9, 2023 Achieving Performance

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![](ex99-1_8k030923slide2.jpg)

Forward Looking Statements & Safe Harbor Certain statements contained herein are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as "may," "will," "believe," "expect," "estimate," "anticipate," "continue," or similar terms or variations on those terms, or the negative of those terms. Forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, those related to the economic environment, particularly in the market areas in which the Company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including compliance costs and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management, asset-liability management, the financial and securities markets and the availability of and costs associated with sources of liquidity, and the Risk Factors disclosed in our annual and quarterly reports. In addition, the COVID-19 pandemic continues to have an adverse impact on the Company, its customers, and the communities it serves. The adverse effect of the COVID-19 pandemic on the Company, its customers, and the communities where it operates will continue to adversely affect the Company's business, results of operations, and financial condition for an indefinite period of time. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company wishes to advise readers that the factors listed above could affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not undertake and specifically declines any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. 2

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![](ex99-1_8k030923slide3.jpg)

FISCAL 2022 HIGHLIGHTSAchieving Performance 3 Full year earnings of $20.1 million – a 22% increase over 2021, and the highest in our 106-year history. Total assets of $1.86 billion at September 30, 2022. Net Loans were $1.44 billion, an increase of 7.5% over year-end 2021. Total loan production in excess of $470 million led by commercial real estate and residential mortgage volume. Asset quality remained solid and stable. Capital ratios are strong. Net Interest margin increased 42 basis points to 3.38% from last year. ROAA of 1.08%. Increased dividend by $0.07 cents per share. Continued growth in our customer adoption of digital banking services. Employees are engaged in their local communities.

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![](ex99-1_8k030923slide4.jpg)

Total Loan Growth: $113 M Commercial Loan Growth: $149 M 4 ESSA LOAN COMPOSITION SHIFT ($000's) Year Ended 9/30/2019 9/30/2020 9/30/2021 9/30/2022 1-4 Family $597,514 $610,380 $580,313 $623,375 Construction & Development 5,672 11,853 14,013 25,024 CRE & Multifamily 480,647 509,628 591,117 678,841 C&I 127,387 \*218,833 \*119,664 78,574 Consumer, Home Equity & Other 130,063 82,888 53,859 48,497 Total Loans $1,341,283 $1,433,582 $1,358,966 $1,454,311 $1.34 B Total Loans $1.45 B Total Loans \* Includes PPP loans of $77.8 million at 09/30/2020 and $22.6 million at 09/30/2021 respectively

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![](ex99-1_8k030923slide5.jpg)

$1.38 B Total Deposits 5 ESSA RETAIL DEPOSIT COMPOSITION SHIFT Excludes broker deposits Mobile transactions increased 15% in 2022. Continued core deposit focus, Demand Deposits CAGR of 10.9%. $1.18 B Total Deposits ($000's) Year Ended 9/30/2019 9/30/2020 9/30/2021 9/30/2022 DDA $212,802 $242,642 $257,747 $290,061 NOW 188,289 274,722 341,138 357,516 SAV 135,011 160,975 189,004 196,696 MMDA 364,635 401,863 428,272 402,080 TD 284,028 245,303 194,924 133,668 Total $1,184,765 $1,325,505 $1,411,085 $1,380,021 Total Deposit Growth: $195 M Core Deposit Growth: $346 M

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![](ex99-1_8k030923slide6.jpg)

CONSOLIDATED FINANCIAL HIGHLIGHTS 6

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![](ex99-1_8k030923slide7.jpg)

SOLID ASSET QUALITY 7 to

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![](ex99-1_8k030923slide8.jpg)

MANAGEMENT FOCUSED ON EFFICIENT OPERATIONS 8 \* Non-interest expense was $38.1 million net of the $2.5 million prepayment penalty related to the deleverage strategy. The prepayment penalty was offset by a $2.5 million gain on sale of investment securities, also as part of the deleverage strategy.

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![](ex99-1_8k030923slide9.jpg)

9 Strong Capital Levels Years Ended September 30

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![](ex99-1_8k030923slide10.jpg)

10 TANGIBLE BOOK / FY 2022 STOCK PRICE Years Ended September 30

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![](ex99-1_8k030923slide11.jpg)

11 MARKET CAPITALIZATION ($ in 000's) Years Ended September 30 Repurchased 110,000 shares of common stock at an average price of $17.10 in fiscal 2022.

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![](ex99-1_8k030923slide12.jpg)

12 Corporate Citizenship & Community Commitment ESSA employees donated more than 3,000 hours of community service and the bank made contributions to over 175 community organizations. We established new relationships with The Rise-up Fund and Neighborhood Housing Services to help those in pursuit of home ownership in underserved communities. The Bank continued its participation in the federal CARE and STAR programs. In 2022, The ESSA Bank & Trust Foundation awarded $1.6 million in grants to community organizations throughout our markets. Continued with our $25,000 investment in the Jordan Heights Neighborhood Development Investment Fund (JH Fund) through the Housing Association & Development Corporation (HADC). Participated in Adopt-an-Apartment program through Ripple Community Inc in which donations are used to supplement the rent for very low-income families in the Allentown area. ESSA pledged enough to cover 6 months of rental assistance to help Ripple Community break the cycle of homelessness.

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![](ex99-1_8k030923slide13.jpg)

2022 BRAND & PROMOTIONAL MESSAGING 13

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![](ex99-1_8k030923slide14.jpg)

STRATEGIC OBJECTIVES Continue balance sheet transition towards higher yielding commercial loans. Build upon our digital strategy with Fiserv to improve customer adoption and supplement our branch footprint. Continue to grow non-interest income lines of business to strengthen and diversify earnings. Strong focus on non-interest expense. Maintain strong enterprise-wide risk management practices and stable asset quality. Continue to be a source of strength and service to the communities in which we operate. 14

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![](ex99-1_8k030923slide15.jpg)

ESSA Bank & Trust ESSA Investment Services ESSA Asset Management & Trust ESSA Advisory Services

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