ESSA Bancorp, Inc. is the Pennsylvania-chartered stock holding company of
ESSA Bank & Trust (the “Bank”). ESSA Bancorp owns 100% of the
outstanding shares of common stock of ESSA Bank & Trust. Since being formed
in 2006, ESSA Bancorp has engaged primarily in the business of holding the common
stock of ESSA Bank & Trust. Our executive offices are located at 200 Palmer
Street, Stroudsburg, Pennsylvania 18360. Our telephone number at this address
is (570) 421-0531. ESSA Bancorp is subject to comprehensive regulation and examination
by the Federal Reserve Board of Governors. On July 31, 2012, ESSA Bancorp completed
its acquisition of First Star Bancorp, Inc. and its wholly-owned subsidiary,
First Star Bank.
ESSA Bank & Trust was organized in 1916. ESSA Bank & Trust is a Pennsylvania
chartered full-service, community-oriented savings bank. We provide financial
services to individuals, families and businesses through our 25 full-service
banking offices, located in Monroe, Northampton, Lehigh, Lackawanna and Luzerne
Counties, Pennsylvania. ESSA Bank & Trust is subject to comprehensive regulation
and examination by the Pennsylvania Department of Banking and Securities and
the Federal Deposit Insurance Corporation. Pursuant to changes in Pennsylvania
law, ESSA Bank & Trust converted its charter from a Pennsylvania savings
and loan association to a Pennsylvania savings bank. The charter change did
not have a material effect on the operations of ESSA Bank & Trust.
ESSA Bank & Trust’s business consists primarily of accepting deposits
from the general public and investing those deposits, together with funds generated
from operations and borrowings, in residential first mortgage loans (including
construction mortgage loans), commercial real estate loans, home equity loans
and lines of credit, commercial and consumer loans (including indirect auto
loans). We offer a variety of deposit accounts, including checking, savings
and certificates of deposits. We also offer asset management and trust services.
We offer investment services through our relationship with Cetera Investment
Services LLC, a third party broker/dealer and investment advisor. We offer insurance
benefit consulting services through our wholly owned subsidiary, ESSA Advisory
Services, LLC.
ESSA Bank & Trust’s executive offices are located at 200 Palmer Street,
Stroudsburg, Pennsylvania 18360. Our telephone number at this address is (570)
421-0531. Our website address is www.essabank.com.
Loan Originations and Repayments. We originate residential mortgage loans pursuant
to underwriting standards that generally conform to Fannie Mae and Freddie Mac
guidelines. Loan origination activities are primarily concentrated in Monroe,
Northampton, Lehigh, Lackawanna and Luzerne Counties, Pennsylvania and secondarily
in other Pennsylvania counties contiguous to our primary market area. New loans
are generated primarily from the efforts of employees and advertising, a network
of select mortgage brokers, other parties with whom we do business, customer
referrals, and from walk-in customers. Loan applications are centrally underwritten
and processed at our corporate center.
One- to four-family Residential Loans. Historically, our principal lending
activity has consisted of the origination of one- to four-family residential
mortgage loans secured primarily by properties located in Monroe, Northampton,
Lackawanna, Luzerne and Lehigh Counties, Pennsylvania.
Home Equity Loans and Lines of Credit. Home equity loans and lines of credit
are generated by our loan originators. Eligible properties include primary and
vacation homes in northeastern Pennsylvania, with the majority of loans being
originated in Monroe, Northampton and Lehigh Counties.
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