---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-004099"
form_type: "8-K"
ticker: "CCNE"
cik: "0000736772"
company_name: "CNB FINANCIAL CORP/PA"
filed_at: "2025-01-10T23:59:59+00:00"
generated_at: "2026-05-28T05:56:44.475342+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# CNB Financial to acquire ESSA Bancorp for ~$214M in stock; 35% EPS accretion in 2026

## Summary
- All-stock deal: each ESSA share exchanged for 0.8547 CNB shares; total value ~$214M based on CNB 10-day VWAP of $24.69.
- Pro forma combined company: ~$8B assets, $7B deposits, $6B loans; Top 10 deposit ranking in PA.
- Expected 35% EPS accretion in 2026; TBV dilution 15% with earnback of ~3.3 years; pro forma ROTCE ~16%, ROA ~1.3%.
- Three ESSA directors (Olson, Selig, Henning) to join CNB and CNB Bank boards; Olson to serve as strategic advisor to CNB CEO.
- Termination fee of $8.8M payable by ESSA under certain conditions; deal expected to close Q3 2025.

## SEC filing metadata
- accession: 0001193125-25-004099
- form_type: 8-K
- ticker: CCNE
- cik: 0000736772
- company_name: CNB FINANCIAL CORP/PA
- filed_at: 2025-01-10T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/736772/000119312525004099/0001193125-25-004099-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/736772/000119312525004099/d881537d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-004099
- JSON: https://secwatch.observer/filing/0001193125-25-004099.json
- Plain text: https://secwatch.observer/filing/0001193125-25-004099.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.