Company: CCNE
Filing Date: 2025-03-05
Form Type: 424B3
Source: 0001193125-25-047258
Chunk: 243

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-05
Form: 424B3
Chunk 243
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ful Breach        |     | A-63 |

A-vi

This AGREEMENT AND PLAN OF MERGER (this “”) is dated as of
January 9, 2025, by and among CNB Financial Corporation, a Pennsylvania corporation (“”), CNB Bank, a Pennsylvania-chartered nonmember bank and wholly-owned subsidiary of CNB (“”), ESSA Bancorp,
Inc., a Pennsylvania corporation (“”), and ESSA Bank & Trust, a Pennsylvania-chartered stock savings bank and wholly-owned subsidiary of ESSA (“”).

WITNESSETH

WHEREAS, the CNB Board has (i) determined that this Agreement and the business combination and related transactions contemplated
hereby are in the best interests of CNB and its shareholders; (ii) determined that this Agreement and the transactions contemplated hereby are consistent with and in furtherance of CNB’s business strategies; and (iii) approved and
declared advisable this Agreement and the transactions contemplated hereby, including the issuance of shares of CNB Stock (as defined herein) contemplated by this Agreement (the “”);

WHEREAS, the ESSA Board has (i) determined that this Agreement and the business combination and related transactions contemplated
hereby are in the best interests of ESSA and its shareholders; (ii) determined that this Agreement and the transactions contemplated hereby are consistent with and in furtherance of ESSA’s business strategies; and (iii) approved and
declared advisable this Agreement and the transactions contemplated hereby;

WHEREAS, in accordance with the terms of this
Agreement, ESSA will merge with and into CNB, with CNB surviving (the “”), and immediately thereafter, ESSA Bank will merge with and into CNB Bank, with CNB Bank surviving (the “” and, together with
the Merger, the “”);

WHEREAS, as a material inducement to CNB to enter into this Agreement, each of
the directors and certain executive officers of ESSA set forth on has entered into a voting agreement with CNB dated as of the date hereof (an “”), substantially in the
form attached hereto as , pursuant to which each such director or executive officer has agreed, among other things, to vote all shares of ESSA Stock (as defined herein) owned by such person in favor of the approval of this Agreement
and the transactions contemplated hereby, upon the terms and subject to the conditions set forth in such agreement;

WHEREAS, as a