Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 169

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 169
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                         |
| Northwest Bancshares, Inc.   |     | Penns Woods Bancorp Inc.       |
| NBT Bancorp Inc.             |     | Evans Bancorp Inc.             |
| ConnectOne Bancorp Inc.      |     | The First of Long Island Corp. |
| Peoples Financial Services   |     | FNCB Bancorp Inc.              |
| First Bank                   |     | Malvern Bancorp Inc            |
| First Commonwealth Financial |     | Centric Financial Corp.        |
| Brookline Bancorp Inc.       |     | PCSB Financial Corp.           |
| Farmers National Banc Corp.  |     | Emclaire Financial Corp        |
| Fulton Financial Corp.       |     | Prudential Bancorp Inc.        |
| F.N.B. Corp.                 |     | Howard Bancorp Inc.            |
| Lakeland Bancorp             |     | 1st Constitution Bancorp       |
| Mid Penn Bancorp Inc.        |     | Riverview Financial Corp.      |
| Valley National Bancorp      |     | Westchester Bank Holding Corp. |

The Nationwide Precedent Transactions group was composed of the following transactions:

| Acquiror                     |     | Target                    |
| Northwest Bancshares, Inc.   |     | Penns Woods Bancorp Inc.  |
| EverBank Financial Corp      |     | Sterling Bank & Trust FSB |
| Camden National Corp.        |     | Northway Financial Inc.   |
| NBT Bancorp Inc.             |     | Evans Bancorp Inc.        |
| German American Bancorp Inc. |     | Heartland BancCorp        |
| ChoiceOne Financial Services |     | Fentura Financial Inc.    |
| West Coast Community Bancorp |     | 1st Capital Bancorp       |
| Alerus Financial Corp.       |     | HMN Financial Inc.        |
| United Bankshares Inc.       |     | Piedmont Bancorp Inc.     |
| Hope Bancorp, Inc.           |     | Territorial Bancorp Inc.  |
| Wintrust Financial Corp.     |     | Macatawa Bank Corp.       |

Using the latest publicly available information prior to the announcement of the relevant transaction, Piper Sandler reviewed the following transaction metrics: transaction price to last-twelve-months earnings per share, transaction price to tangible book value per share, core deposit premium, and one-daymarket premium. Piper Sandler compared the indicated transaction metrics for the merger to the