ESSA merges with Franklin Security Bank

Posted: 6:08 PM EST Nov 20, 2013   Updated: 7:27 PM EST Nov 20, 2013

Two area banks are merging into one.

ESSA Bancorp says it's buying Franklin Security Bancorp. and its subsidiary Franklin Security Bank.

Franklin Security Bank has two locations serving Scranton and Wilkes-Barre.

ESSA Bank and Trust has 26 locations throughout the Pocono and Lehigh Valley areas.

Bank officials say the $15.7 million deal is expected to be finalized in 2014.