November 18, 2013 / 2:51 PM / 4 years ago

BRIEF-ESSA Bancorp to buy Franklin Security Bancorp for about $15.7 mln

Nov 18 (Reuters) - ESSA Bancorp Inc : * Essa bancorp, inc., and Franklin security bancorp announce signing of merger

agreement * Under terms of agreement, stockholders of fsb will receive $9.75 per share or

an aggregate of approximately $15.7 million * Says the merger is expected to be immediately accretive to Essa bancorp’s

earnings upon closing * Says targeting earnings per share accretion of $0.03 per share in the first

clean quarter * Under deal Essa Bancorp will acquire Franklin security bancorp and its wholly

owned unit in an all cash transaction * Essa Bancorp expects to retain richard mebane, Franklin Security’s CEO, who

will be a market president * Source text for Eikon * Further company coverage

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