Welcome to our dedicated page for Essa Banc news (Ticker: ESSA), a resource for investors and traders seeking the latest updates and insights on Essa Banc stock.
ESSA Banc (ESSA) maintains its position as a trusted community-focused financial institution through strategic initiatives and operational excellence. This news hub provides investors and stakeholders with timely updates on the bank’s financial performance, service expansions, and community engagement efforts.
Access official press releases, earnings reports, and regulatory filings alongside analyses of ESSA’s lending programs, deposit growth strategies, and risk management practices. Our curated collection ensures transparent access to developments in mortgage lending innovations, commercial banking partnerships, and trust service enhancements.
Key updates include quarterly financial results, leadership announcements, branch network expansions, and participation in local economic development projects. Bookmark this page to stay informed about ESSA’s evolving role in eastern Pennsylvania’s financial landscape through verified updates from primary sources.
ESSA Bancorp (NASDAQ:ESSA) reported fiscal Q2 2025 financial results with net income of $2.7 million ($0.29 per diluted share), down from $4.6 million ($0.48 per share) in Q2 2024. The quarter included $1.0 million in pre-tax merger-related costs from the pending CNB Financial merger.
Key financial metrics for Q2 2025:
- Total interest income: $25.6 million
- Net interest margin: 2.78% (vs 2.87% in Q2 2024)
- Total assets: $2.168 billion
- Total net loans: $1.76 billion
- Total deposits: $1.69 billion
The Bank maintained strong capital position with a Tier 1 capital ratio of 10.3%. Tangible book value per share increased to $21.93 from $21.40 in September 2024. Nonperforming assets were $11.7 million, representing 0.54% of total assets.
ESSA Bancorp (NASDAQ: ESSA) has announced a quarterly dividend declaration of $0.15 per share. The dividend will be distributed to shareholders of record as of March 17, 2025, with the payment scheduled for March 31, 2025.
ESSA Bancorp reported fiscal Q1 2025 net income of $4.0 million ($0.41 per diluted share), compared to $4.3 million ($0.45 per diluted share) in Q1 2024. Total net loans increased to $1.76 billion, with notable growth in commercial loans (23.7%) and residential mortgages. Total deposits reached $1.70 billion, with core deposits comprising 62% of total deposits.
Key financial metrics include: asset quality remained strong with nonperforming assets to total assets ratio of 0.54%, total yield on average interest earning assets increased to 5.01%, and net interest margin was 2.68%. The Bank maintained a strong Tier 1 capital ratio of 10.0%. Tangible book value per share increased to $21.70 from $21.40 in the previous quarter.
The company announced a planned merger with CNB Financial , which is expected to generate significant long-term value for shareholders.
CNB Financial (NASDAQ: CCNE) has announced a definitive agreement to acquire ESSA Bancorp in an all-stock transaction valued at $214 million. The merger, expected to close in 3Q25, will expand CNB's Pennsylvania footprint, particularly in the Greater Lehigh Valley and Scranton markets.
The acquisition will add approximately $2 billion in assets to CCNE's balance sheet, resulting in proforma $8 billion in total assets, $6 billion in loans, and $7 billion in deposits, along with 20 additional branch locations. The combined entity will become the seventh-largest Pennsylvania-headquartered bank by deposit market share.
The merger projects $20.5 million in pre-tax cost savings, with 50% realized in 2025. Additional earnings benefits include $94 million in loan portfolio interest rate marks and $14 million in investment portfolio marks. The proforma CET1 ratio is expected to decline from 11.6% to 10.7% at closing but should rebuild to peer group levels by YE26.
ESSA Bancorp (NASDAQ:ESSA) announced that its Board of Directors has declared a quarterly dividend of $0.15 per share. The dividend will be paid on December 30, 2024, to shareholders of record as of December 16, 2024. This announcement comes from the holding company of ESSA Bank & Trust.
ESSA Bancorp reported fiscal Q4 2024 net income of $4.2 million ($0.44 per share), down from $4.6 million ($0.47 per share) in Q4 2023. Full-year 2024 net income was $17.0 million ($1.78 per share), compared to $18.6 million ($1.91 per share) in 2023. Total net loans increased 3.8% to $1.74 billion, with commercial real estate loans growing 7.6% to $884.6 million. Asset quality remained strong with nonperforming assets at 0.58% of total assets. Total deposits were $1.63 billion, with core deposits comprising 64.3%. The Bank maintained a strong capital position with a Tier 1 ratio of 10.01% and increased tangible book value per share to $21.40.
ESSA Bancorp, Inc. (NASDAQ: ESSA), the holding company for ESSA Bank & Trust, has announced a quarterly dividend of $0.15 per share. This dividend will be payable to shareholders of record as of September 16, 2024, with the payment date set for September 30, 2024. The declaration of this dividend by the Board of Directors demonstrates the company's commitment to providing returns to its shareholders and may indicate confidence in the company's financial stability and future prospects.
ESSA Bancorp, Inc. (NASDAQ:ESSA) reported its fiscal third quarter and nine months 2024 financial results. Net income for Q3 2024 was $3.9 million ($0.41 per diluted share), compared to $4.4 million ($0.45 per diluted share) in Q3 2023. For the nine months ended June 30, 2024, net income was $12.8 million ($1.34 per diluted share), down from $13.9 million ($1.44 per diluted share) in the same period of 2023.
Total interest income increased 17.9% to $25.7 million in Q3 2024, while total interest expense rose 76.3% to $11.5 million. The net interest margin decreased to 2.77% in Q3 2024 from 3.22% in Q3 2023. Total net loans increased to $1.71 billion, and total deposits were $1.55 billion as of June 30, 2024. The company maintained strong asset quality with a nonperforming assets to total assets ratio of 0.56%.
ESSA Bancorp, the holding company for ESSA Bank & Trust, announced a quarterly dividend of $0.15 per share. The dividend will be paid to shareholders of record as of June 14, 2024, on June 28, 2024.
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