Form 8-K ESSA Bancorp, Inc. Due: Jun 06

Room 99.1

Date: June 6, 2022
Contact: Gary S. Olson, President and CEO
The head office: 200 Palmer Street
Stroudsburg, Pennsylvania 18360
Telephone: (570) 421-0531

ESSA Bancorp, Inc. Announces Authorization of Share Repurchase Program

Stroudsburg, Pennsylvania. – June 6, 2022 – ESSA Bancorp, Inc. (NASDAQ Global MarketSM: ESSA), the holding company of ESSA Bank & Trust, today announced that its Board of Directors has approved a share buyback program of up to 500,000 common shares. The Company may redeem the shares from time to time through open market purchases, over-the-counter share transactions or in any other manner consistent with applicable securities laws.

The share buyback program does not oblige the Company to purchase shares. There is no guarantee as to the exact number of shares that will be repurchased by the Company under this program, which is subject to market conditions, the cost of repurchasing shares, the availability of investment alternatives, liquidity and other factors deemed appropriate. .

About the company ESSA Bancorp, Inc. is the holding company of its wholly owned subsidiary, ESSA Bank & Trust, which was established in 1916. The company has total assets of $1.9 billion. Headquartered in Stroudsburg, Pennsylvania, the company has two regional offices in Bethlehem and Radnor, and operates 21 community offices in the Greater Pocono, Lehigh Valley, Scranton/Wilkes-Barre and suburban Philadelphia areas. ESSA Bank & Trust offers a full range of commercial and retail banking, employee benefits, investment services, and asset and trust management capabilities. ESSA Bancorp Inc. shares trade on the NASDAQ Global Market (SM) under the symbol “ESSA”.

Forward-looking statements

Certain statements contained herein are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements can be identified by reference to a or more future periods. , or by the use of forward-looking terminology, such as “may”, “shall”, “believe”, “expect”, “estimate”, “anticipate”, “continue”, or similar terms or variations of these terms, or the negative of these terms. Forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, those relating to the economic environment, particularly in the market areas in which the Company operates, competitive products and prices, US government fiscal and monetary policies. , changes in government regulations affecting financial institutions, including compliance costs and capital requirements, changes in prevailing interest rates, acquisitions and integration of acquired businesses, credit risk management, asset and liability management, financial and securities markets, the availability and costs associated with sources of liquidity and the effects of any pandemic, including COVID-19[FEMALE[FEMININE and the risk factors described in the company’s most recent annual report on form 10-K and subsequent quarterly reports filed on form 10-Q.

The Company wishes to caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company wishes to advise readers that the factors listed above could affect the financial performance of the Company and could cause the Company’s actual results for future periods to differ materially from the opinions or statements expressed with respect to future periods in the current statements. The Company does not undertake and specifically disclaims any obligation to release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. . .

Corporate Center: 200 Palmer Street PO Box L Stroudsburg, PA 18360-0160
570-421-0531 Fax: 570-421-7158

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