An update from Cnb Financial ( (CCNE) ) is now available.
CNB Financial Corporation, along with its subsidiary CNB Bank, has entered into a definitive agreement to merge with ESSA Bancorp, Inc. and ESSA Bank & Trust, making CNB the surviving entity. The merger, which involves the conversion of ESSA shares into CNB shares at a specified ratio, is expected to close in the third quarter of 2025, following customary regulatory and shareholder approvals. This strategic move is set to expand CNB’s market presence and operational capacity. The deal also includes a termination fee clause and voting agreements to ensure shareholder support from both parties.
More about Cnb Financial
YTD Price Performance: -1.71%
Average Trading Volume: 50,428
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $506.2M
Learn more about CCNE stock on TipRanks’ Stock Analysis page.