Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 156

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 156
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retive from an earnings per share perspective for the pro forma company in the first full year after completion;•the merger will expand and enhance CNB’s existing geographic footprint and has the potential to accelerate growth in the greater Lehigh Valley and Scranton/Wilkes-Barre markets, while continuing to leverage CNB’s infrastructure capabilities;116
| • |     | the opportunity to further diversify CNB’s customer base as a whole, by expanding the size and breadth of its footprint through the merger and to do so in a market that has retail and business opportunities that are consistent with prior, successful market expansions; |

| • |     | the compatibility of the cultures of CNB and ESSA, particularly with respect to satisfying local banking needs while strengthening local communities through an engaged team; |

| • |     | the agreement by Mr. Olson to serve as strategic advisor to CNB’s Chief Executive Officer and ESSA’s agreement, upon the closing of the merger, for CNB and CNB Bank to appoint Messrs. Olson, Selig and Henning, to their respective boards of directors, which is expected to provide a degree of continuity and involvement by the ESSA Board of Directors following the merger and enhance the likelihood that the strategic benefits that CNB expects to achieve as a result of the merger will be realized; |

| • |     | the anticipated operating efficiencies, cost savings, new branding and opportunities for revenue enhancements of the combined company following the completion of the merger, and the likelihood that they would be achieved after the merger; |

| • |     | the fact that the merger is expected to provide an increase in shareholder value, in terms of a potentially significant increase in earnings and earnings per share of common stock, that will further strengthen CNB’s strategic position; |

| • |     | the fact that the merger of CNB and ESSA will create a combined company with a potentially significantly higher market capitalization, thus increasing the liquidity of CNB’s common stock and providing CNB’s shareholders with increased opportunities to trade on its common stock; |

| • |     | the structure of the merger and the financial and other terms of the merger agreement, including the fixed exchange ratio; |

| • |     | the deal protection provided by the terms of the merger agreement and the termination fee of $8.8 million to CNB under certain circumstances; |

| • |     | the intended tax treatment of the merger as a tax-free reorganization; and |

| • |     | the likelihood