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Essa Banc - ESSA STOCK NEWS

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.

Overview of ESSA Banc

ESSA Banc is a respected financial institution with a rich history dating back to its founding in 1916. Headquartered in the greater Pocono region of Pennsylvania, the bank has built a reputation for its service-oriented approach and strong community focus. As a comprehensive bank, ESSA Banc provides a full range of commercial and retail banking services, including various deposit accounts, lending services, and wealth management solutions, aimed at meeting both individual and business needs in the region.

Comprehensive Financial Services

The bank’s operations span multiple financial services segments:

  • Deposit Services: Offering an array of checking, savings, and certificate of deposit accounts, ESSA Banc caters to the diverse needs of its customers while focusing on cost-effective core deposits.
  • Lending Solutions: The institution is one of the region’s most significant mortgage lenders, providing residential first mortgage loans, construction financing, home equity products, and commercial real estate and industrial loans that support local economic growth.
  • Asset Management and Trust Services: With a dedicated asset management division and comprehensive trust services, the bank assists clients with wealth preservation, estate planning, and tailored investment strategies.
  • Advisory Services: Through its wholly-owned subsidiary, ESSA Advisory Services, LLC, the company also offers specialized insurance benefit consulting, further enhancing its suite of financial services.

Industry Position and Market Significance

ESSA Banc stands out within the competitive landscape of regional banking by combining traditional banking practices with a modern approach to financial management. Its commitment to disciplined credit management, operational efficiency, and a client-focused service model has cemented its role as a dependable financial partner for communities throughout eastern Pennsylvania. The bank’s reputation is built on decades of experience, a deep understanding of the local market, and an unwavering focus on both asset quality and customer service.

Operational Excellence and Risk Management

Key to ESSA Banc's ongoing success is its rigorous approach to managing credit and operational risks. With extensive experience and a well-capitalized balance sheet, the bank maintains strong asset quality and efficient expense management, ensuring stable performance even in fluctuating economic conditions. Its multi-faceted loan portfolio is carefully monitored to mitigate potential risks while supporting sustainable growth in both residential and commercial sectors.

Community and Client-Centric Approach

Rooted in a tradition of community banking, ESSA Banc continues to nurture long-term customer relationships by offering personalized financial solutions and integrated banking capabilities. Whether through competitive lending, tailored deposit programs, or strategic advisory services, the bank consistently reflects its commitment to serving the financial needs of local businesses and individuals. This focus on community ensures that clients benefit from the personalized attention and support that stem from its established network of community offices.

Expertise in a Changing Financial Landscape

With an environment that is constantly evolving due to regulatory changes and market dynamics, ESSA Banc leverages its extensive expertise to navigate the challenges of a dynamic interest rate landscape. Its seasoned management team employs detailed credit risk analysis, proactive asset quality assessments, and strategic pricing adjustments to preserve earnings quality while delivering consistent value. This balanced approach has allowed the institution to remain resilient and adaptable, using its in-depth knowledge of financial markets to support ongoing operational excellence.

Conclusion

In summary, ESSA Banc is a well-established financial institution that excels in providing a comprehensive range of banking services supported by prudent risk management and an unwavering commitment to customer service. Its strategic focus on diversified revenue streams and efficient operations has fortified its competitive position in a challenging yet opportunistic market environment. Through decades of trusted service, ESSA Banc has become synonymous with reliability, expertise, and community engagement in the financial services industry.

Rhea-AI Summary

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.

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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.

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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.

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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.

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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.

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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.

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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%.

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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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ESSA Bancorp, Inc. reported financial results for the fiscal second quarter and first half of 2024, showing net income of $4.6 million for the quarter and $8.9 million for the half. The company focused on managing interest income and expenses amidst challenging interest rate conditions. Total interest income increased by 27.9% to $25.7 million in the second quarter, with a total yield on average interest earning assets of 4.95%. Net interest income after provision for credit losses was $15.4 million in the second quarter. The company emphasized maintaining asset quality and capital strength, with a Tier 1 capital ratio of 9.5% at March 31, 2024. Measures of shareholder value demonstrated growth, with tangible book value per share increasing to $20.70. The company adopted the CECL accounting standard, impacting the allowance for credit losses. Noninterest income remained stable, while noninterest expense increased slightly. Total assets decreased to $2.2 billion, with total net loans at $1.71 billion. Overall, ESSA Bancorp, Inc. showed resilience in managing financial performance and shareholder value.
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ESSA Bancorp, Inc. declares a dividend of $0.15 per share, payable to shareholders of record as of March 15, 2024.
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FAQ

What is the current stock price of Essa Banc (ESSA)?

The current stock price of Essa Banc (ESSA) is $18.98 as of April 2, 2025.

What is the market cap of Essa Banc (ESSA)?

The market cap of Essa Banc (ESSA) is approximately 195.6M.

What primary services does ESSA Banc provide?

ESSA Banc offers a full range of services, including deposit accounts, various types of loans (residential and commercial), asset management, trust services, and specialized advisory services through its subsidiary.

How does ESSA Banc differentiate itself from other financial institutions?

The bank distinguishes itself through its deep community roots, a diversified service offering, disciplined risk management, and a long history of providing personalized financial solutions in eastern Pennsylvania.

What types of loan products are available at ESSA Banc?

ESSA Banc offers residential first mortgage loans, construction financing, home equity loans, and lending solutions for commercial real estate, as well as various industrial and commercial loan products.

How does ESSA Banc maintain asset quality?

Through rigorous credit risk assessments, continuous monitoring of its loan portfolio, and prudent lending practices, ESSA Banc ensures high asset quality and manages potential risks effectively.

What role does community banking play in ESSA Banc's operations?

Community banking is central to ESSA Banc's identity; the bank leverages its extensive network of community offices to provide personalized services and build long-term relationships with local customers.

How are deposit services structured at ESSA Banc?

The bank offers a variety of deposit accounts such as checking, savings, and certificates of deposit, with a focus on attracting and retaining core, cost-effective deposits.

Does ESSA Banc offer investment and trust services?

Yes, ESSA Banc provides comprehensive asset management and trust services, helping clients with wealth preservation, estate planning, and tailored investment strategies.

What measures does ESSA Banc take to manage market risks?

The management team focuses on disciplined credit management, expense control, and strategic pricing adjustments to navigate interest rate fluctuations and other market challenges.
Essa Banc

Nasdaq:ESSA

ESSA Rankings

ESSA Stock Data

195.64M
8.42M
14.7%
46.79%
0.26%
Banks - Regional
Savings Institutions, Not Federally Chartered
Link
United States
STROUDSBURG