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Exhibit 99.1 ESSA Bancorp - ESSA Bancorp , Inc. Announces Fiscal 2021 First Quarter Financial Results Stroudsburg , PA . – January 27 , 2021 - ESSA Bancorp , Inc. ( the “ Company ” ) ( NASDAQ : ESSA ) , the holding company for ESSA Bank & Trust ( the " Bank ” ) , a $ 1.9 billion asset financial institution providing full service commercial and retail banking , financial , and investment services in eastern Pennsylvania , today announced financial results for the three months ended December 31 , 2020 . Net income was $ 4.1 million , or $ 0.41 per diluted share , for the three months ended December 31 , 2020 , up 21 % compared with $ 3.4 million , or $ 0.33 per diluted share , for the three months ended December 31 , 2019 . Gary S. Olson , President and CEO , commented : “ The Company's financial performance in the fiscal first quarter of 2021 reflected the ongoing commitment of ESSA to provide responsive service and personalized financial solutions with increased use of digital capabilities , ensure the health and safety of customers and employees , and maintain a strong balance sheet , asset quality and liquidity . " Fiscal first quarter earnings results reflected the positive impact of reduced interest expense and increased noninterest income . We continued to maintain increased cash reserves to ensure liquidity and expanded loan loss reserves to address economic and pandemic - related uncertainties . " Although economic uncertainty and pandemic - related conditions have understandably dampened commercial banking activity , we continued to see relative stability in commercial lending and only a modest year - over - year decline in interest income from loans . Managing interest expense contributed to higher year - over - year net interest income . Strong growth of noninterest income , fueled in part by brisk residential mortgage originations that generated fee income and resulting gains on the sale of mortgages , was an important factor in generating double - digit net income growth . The Company's financial performance continued to build shareholder value . " Our bankers continued to efficiently serve customers through a variety of channels from digital delivery to safe personal interactions . We believe fiscal 2021 first quarter results affirmed our commitment to reimagining the future of banking that will incorporate increased digital capabilities , new ways of collaborating with customers , less reliance on physical facilities , and new ways to educate and communicate with customers . “ Although the pandemic continues to impact our served markets , we have been encouraged by the economic health and resilience demonstrated throughout the region . Most customers who requested loan payment deferrals in 2020 are now current , and there have been few requests for relief in recent months . Loans still in forbearance at December 31 , 2020 included $ 28.1 million in commercial real estate , $ 108,000 in commercial , $ 3.2 million in mortgage and $ 160,000 in auto . In total , these loans represent 2.3 % of our total outstanding loans at December 31 , 2020 compared to 4.5 % at September 30 , 2020 and 12.4 % at June 30 , 2020 . " While businesses continue to take a conservative and cautious stance , they are generally holding their own . ESSA has provided the support and services to help clients , including our active participation in the Paycheck Protection Program ( “ PPP ” ) last year . We assisted many existing and new customers , and we are participating in the current round of government - guaranteed financing . " The pandemic and resulting economic uncertainty continue to present challenges . We believe ESSA has demonstrated the ability to effectively address the challenges . We remained focused on maintaining liquidity , an appropriate loan loss reserve , credit quality management , managing interest and noninterest expense , and delivering superior service . "