# EDGAR Filing Document

**Accession Number:** 0001382230
**File Stem:** 0001193125-25-163859
**Filing Date:** 2025-7
**Character Count:** 19122
**Document Hash:** ab5d698dd1c76edb17d79d5d1f8c8b2c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-163859.hdr.sgml**: 20250724

**ACCESSION NUMBER**: 0001193125-25-163859

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250723

**ITEM INFORMATION**: Completion of Acquisition or Disposition of Assets

**ITEM INFORMATION**: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

**ITEM INFORMATION**: Material Modifications to Rights of Security Holders

**ITEM INFORMATION**: Changes in Control of Registrant

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250724

**DATE AS OF CHANGE**: 20250724

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ESSA Bancorp, Inc.
- **CENTRAL INDEX KEY:** 0001382230
- **STANDARD INDUSTRIAL CLASSIFICATION:** SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED [6036]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 208023072
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-33384
- **FILM NUMBER:** 251144591

**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

?xml version='1.0' encoding='ASCII'? 8-K

### 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): July 23, 2025

## ESSA Bancorp, Inc.

#### (Exact Name of Registrant as Specified in its Charter)

---

| | | |
|:---|:---|:---|
| **Pennsylvania** | **001-33384** | **20-8023072** |
| **(State or Other Jurisdiction)**<br> **of Incorporation)** | **(Commission**<br> **File No.)** | **(I.R.S. Employer**<br> **Identification No.)** |

---

---

| | |
|:---|:---|
| **200 Palmer Street, Stroudsburg, Pennsylvania** | **18360** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

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

#### Not Applicable

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

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

---

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

---

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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#### Introductory Note
This Current Report on Form 8-K is being filed in connection with the closing of the transactions contemplated by that certain Agreement and Plan of Merger, dated January 9, 2025 (the "Merger Agreement"), by and among CNB Financial Corporation, a Pennsylvania corporation ("CNB"), CNB Bank, a Pennsylvania-chartered nonmember bank and wholly-owned subsidiary of CNB ("CNB Bank"), ESSA Bancorp, Inc., a Pennsylvania corporation ("ESSA"), and ESSA Bank and Trust, a Pennsylvania-chartered stock savings bank and wholly-owned subsidiary of ESSA ("ESSA Bank"). Pursuant to the Merger Agreement, effective after the close of business on July 23, 2025, upon the terms and subject to the conditions set forth in the Merger Agreement, among other things, (i) ESSA merged with and into CNB, with CNB as the surviving entity (the "Merger"), and (ii) immediately thereafter, ESSA Bank merged with and into CNB Bank, with CNB Bank as the surviving bank (together with the Merger, the "Transaction").

---

| | |
|:---|:---|
| **Item 2.01** | **Completion of Acquisition or Disposition of Assets.**  |

---

On July 23, 2025, after the close of business, the Transaction was consummated.

Upon the terms and subject to the conditions of the Merger Agreement, at the effective time of the Merger (the "Effective Time"), each share of common stock, $0.01 par value, of ESSA ("ESSA Common Stock") outstanding immediately prior to the Effective Time was converted into the right to receive 0.8547 of a share of common stock, no par value per share, of CNB ("CNB Common Stock" and such consideration, the "Merger Consideration"). Holders of ESSA Common Stock will receive cash in lieu of fractional shares of CNB Common Stock.

Pursuant to the terms of the Merger Agreement, ESSA restricted stock awards automatically vested and were exchanged for the Merger Consideration. ESSA performance-based restricted stock units vested at the greater of target or actual level of achievement of relevant performance goals, and were settled in cash.

A copy of CNB's press release dated July 24, 2025, announcing completion of the Transaction, is attached hereto as Exhibit 99.1 and is incorporated by reference.

The foregoing description of the Transaction and the Merger Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Merger Agreement, which is filed as Exhibit 2.1 to this Current Report on Form 8-K and is incorporated herein by reference.

---

| | |
|:---|:---|
| **Item 3.01** | **Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.**  |

---

As a result of the Merger, ESSA no longer fulfills the listing requirements of the Nasdaq Global Select Market ("Nasdaq"). ESSA notified Nasdaq that trading in ESSA Common Stock should be suspended and the listing of ESSA Common Stock should be removed, in each case effective as of the Effective Time, and requested that Nasdaq file with the U.S. Securities and Exchange Commission (the "SEC") a notification of removal from listing and registration of ESSA Common Stock on Form 25 to effect the delisting of all shares of ESSA Common Stock from Nasdaq and the deregistration of such ESSA Common Stock under Section 12(b) of the Securities Exchange Act of 1934 (the "Exchange Act"). CNB, as successor to ESSA, intends to file with the SEC a certification on Form 15 requesting the termination of the registration of ESSA Common Stock under Section 12(g) of the Exchange Act and the suspension of ESSA's reporting obligations under Sections 13 and 15(d) of the Exchange Act.

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| | |
|:---|:---|
| **Item 3.03** | **Material Modification to the Rights of Security Holders.**  |

---

The information set forth under Items 2.01, 3.01 and 5.03 of this Current Report on Form 8-K is incorporated by reference into this Item 3.03.

At the Effective Time, each holder of shares of ESSA Common Stock issued and outstanding immediately prior to the Effective Time ceased to have any rights as a shareholder of ESSA other than the right to receive the Merger Consideration and cash in lieu of fractional shares of CNB Common Stock in accordance with the Merger Agreement.

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| | |
|:---|:---|
| **Item 5.01** | **Changes in Control of Registrant.**  |

---

The information set forth under Items 2.01 and 3.01 of this Current Report on Form 8-K is incorporated by reference into this Item 5.01.

---

| | |
|:---|:---|
| **Item 5.02** | **Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**  |

---

As of the Effective Time, and pursuant to the terms of the Merger Agreement, ESSA's directors and executive officers ceased serving as directors and executive officers of ESSA. In accordance with the terms of the Merger Agreement, CNB and CNB Bank appointed former ESSA President, Chief Executive Officer and Director Gary S. Olson, and former ESSA Directors Robert C. Selig, Jr. and Daniel J. Henning to the boards of directors of CNB and CNB Bank, respectively.

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| | |
|:---|:---|
| **Item 5.03** | **Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.**  |

---

As a result of the Merger, at the Effective Time, ESSA ceased to exist and the Articles of Incorporation and the Bylaws of ESSA ceased to be in effect by operation of law. The Third Amended and Restated Certificate of Incorporation and the Third Amended and Restated Bylaws, as amended, of CNB, as in effect immediately prior to the Effective Time, remain in effect as the Third Amended and Restated Certificate of Incorporation and Third Amended and Restated Bylaws, as amended, of CNB as the surviving entity of the Merger, consistent with the terms of the Merger Agreement. Copies of the Third Amended Restated Certificate of Incorporation and Third Amended and Restated Bylaws of CNB are filed as Exhibits 3.1, 3.2 and 3.3 to this Current Report on Form 8-K, respectively, and are incorporated herein by reference.

The information set forth in Item 2.01 of this Current Report on Form 8-K is also incorporated by reference into this Item 5.03.

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits**  |

---

(d) <u>Exhibits</u>

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| | |
|:---|:---|
| **Exhibit**<br>**Number** | **Description** |
| 2.1 | [Agreement and Plan of Merger, dated January 9, 2025, by and among CNB Financial Corporation, CNB Bank, ESSA Bancorp, Inc. and ESSA Bank (incorporated by reference to Exhibit 2.1 to ESSA's Current Report on Form 8-K, filed with the SEC on January 10, 2025)](http://www.sec.gov/Archives/edgar/data/1382230/000119312525004095/d838120dex21.htm) |

---

------

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| | |
|:---|:---|
| 3.1 | [Third Amended and Restated Certificate of Incorporation of CNB Financial Corporation (incorporated by reference to Exhibit 3.1 to CNB's Current Report on Form 8-K filed on April 18, 2024).](http://www.sec.gov/Archives/edgar/data/736772/000119312524100766/d796335dex31.htm) |
| 3.2 | [Third Amended and Restated Bylaws of CNB Financial Corporation (incorporated by reference to Exhibit 3.2 to CNB's Current Report on Form 8-K filed on April 18, 2024).](http://www.sec.gov/Archives/edgar/data/736772/000119312524100766/d796335dex32.htm) |
| 3.3 | [Amendment No 1. to the Third Amended and Restated Bylaws of CNB Financial Corporation (incorporated by reference to Exhibit 3.1 to CNB's Current Report on Form 8-K filed on July 21, 2025).](http://www.sec.gov/Archives/edgar/data/736772/000119312525161874/d49006dex31.htm) |
| 99.1 | [Press release of CNB Financial Corporation, dated July 24, 2025, announcing completion of the Transaction.](d42412dex991.htm) |
| 104 | Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL) |

---

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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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| | | |
|:---|:---|:---|
|  |  | **CNB FINANCIAL CORPORATION**<br>**As successor by merger to ESSA Bancorp, Inc.** |
| DATE: July 24, 2025 | By: | /s/ Tito L. Lima |
|  |  | Tito L. Lima<br> Treasurer |

---

## Exhibit 99.1

**Exhibit 99.1** 

**CNB Financial Corporation Completes Merger with ESSA Bancorp, Inc.** 

CLEARFIELD, P.A., July 24, 2025 (GLOBE NEWSWIRE) – CNB Financial Corporation ("CNB" or the "Company") (NASDAQ: CCNE) announced that it completed the merger ("Merger") of ESSA Bancorp, Inc. ("ESSA") with and into CNB on July 23, 2025. In connection with the Merger, ESSA's subsidiary bank, ESSA Bank & Trust, has been merged with and into CNB's subsidiary bank, CNB Bank, and ESSA's offices will operate going forward under the brand of ESSA Bank, a division of CNB Bank.

The transaction has extended CNB Bank's branch network into the Northeastern Region including the Lehigh Valley of Pennsylvania. With the addition of ESSA's 20 community offices, CNB Bank now has 78 branches across its four-state footprint.

"We are so pleased to welcome ESSA Bank & Trust customers and employees into the CNB family as a result of this merger," said CNB President and CEO Michael D. Peduzzi. "At CNB, we focus on providing exceptional experiences to our customers, colleagues, and communities. Adding the ESSA markets to our service area, with branches and employees that have a very similar cultural and service-based focus, is a natural extension of our brand and our operating profile. We believe this merger will catalyze greater achievement of our strategic asset and profitability growth objectives by embracing these vibrant markets in Northeastern Pennsylvania. We look forward to building on the relationships ESSA has established with its customers, communities and shareholders as we focus on continuing to support all stakeholders with a smooth and positive transition."

Consistent with the terms of the merger agreement, Gary S. Olson (ESSA CEO), Robert C. Selig Jr. (ESSA Chairman), and Daniel J. Henning (ESSA Director) will fill 3 new CNB and CNB Bank board seats. Mr. Olson will also have a role as strategic advisor to CNB's CEO. Additionally, CNB Bank formed an Advisory Board for the ESSA Bank division.

Stephens Inc. served as CNB's exclusive financial advisor, and Hogan Lovells US LLP served as its legal advisor. Piper Sandler & Co rendered a fairness opinion to CNB's board. PNC FIG Advisory, part of PNC Capital Markets LLC, served as ESSA's exclusive financial advisor and rendered a fairness opinion to ESSA's board, and Luse Gorman, PC served as its legal advisor.

**About CNB Financial Corporation** 

CNB Financial Corporation is a financial holding company with consolidated assets in excess of $8.0 billion. CNB Financial Corporation conducts business primarily through its principal subsidiary, CNB Bank. CNB Bank is a full-service bank engaging in a full range of banking activities and services, including trust and wealth management services, for individual, business, governmental, and institutional customers. CNB Bank operations include a private banking division, and 78 branches comprised of one loan production office, one drive-up office, one mobile office, and 75 full-service offices in Pennsylvania, Ohio, New York, and Virginia. CNB Bank, headquartered in Clearfield, Pennsylvania, with offices in Central and North Central Pennsylvania, serves as the multi-brand parent to various divisions. These divisions include ERIEBANK, based in Erie, Pennsylvania, with offices in Northwest Pennsylvania and Northeast Ohio; FCBank, based in Worthington, Ohio, with offices in Central Ohio; BankOnBuffalo, based in Buffalo, New York, with offices in Western New York; Ridge View Bank, based in Roanoke, Virginia, with offices in the Southwest Virginia region; ESSA Bank, based in Stroudsburg, Pennsylvania, with offices in Northeastern Pennsylvania, including the Leigh Valley region; and Impressia Bank, a division focused on banking opportunities for women, which operates in CNB Bank's primary market areas. Additional information about CNB Financial Corporation may be found at www.CNBBank.bank.

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**Forward Looking Statements** 

This communication contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements about CNB and ESSA and their industry involve substantial risks and uncertainties. Statements other than statements of current or historical fact, including statements regarding CNB's or ESSA's future financial condition, results of operations, business plans, liquidity, cash flows, projected costs, and the impact of any laws or regulations applicable to CNB or ESSA, are forward-looking statements. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should" and other similar expressions are intended to identify these forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results.

Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements include, but are not limited to the following: (i) failure to realize the expected benefits of the merger; (ii) significant transaction costs and/or unknown or inestimable liabilities; (iii) the risk that ESSA's business will not be integrated successfully or that such integration may be more difficult, time-consuming or costly than expected; (iv) risks related to future opportunities and plans for the combined company, including the uncertainty of expected future financial performance and results of the combined company following completion of the proposed merger; (v) the dilution caused by CNB's issuance of additional shares of its capital stock in connection with the merger; (vi) national, international, regional and local economic and political climates and conditions; (vii) changes in general economic conditions, including changes in market interest rates and changes in monetary and fiscal policies of the federal government; and (viii) legislative and regulatory changes. Further information about these and other relevant risks and uncertainties may be found in CNB's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and in subsequent filings CNB makes with the Securities and Exchange Commission ("SEC").

Forward-looking statements speak only as of the date they are made. CNB does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. You are cautioned not to place undue reliance on these forward-looking statements.

Contact: Tito Lima, Senior EVP, CFO, and Treasurer CNB Financial Corporation 1 South Second Street Clearfield, PA 16830 814-765-9621