Company: CCNE
Filing Date: 2025-01-10
Form Type: 425
Source: 0001193125-25-004105
Chunk: 142

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-01-10
Form: 425
Chunk 142
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 multi-state, multi-brand business model.                                                 |

| • |     | Financially attractive economics: The merger is expected to be ~35% accretive to CNB’s diluted earnings per                                                                                         
 share in 2026, inclusive of fully phased-in cost synergies. Tangible book value per share dilution at transaction close is projected to be 15%, with an earnback period of approximately 3.3 years. |

| • |     | CNB projects pro forma 2026 to deliver a return on average tangible common equity of ~16% and a return on average 
 assets of ~1.3%.                                                                                                  |

| • |     | The combined company is expected to have a very sound estimated pro forma balance sheet at transaction close,                                                    
 with a tangible common equity to tangible asset (TCE/TA) ratio of ~7.7%, Common Equity Tier 1 (CET1) capital ratio of ~10.7%, and loan to deposit ratio of ~89%. |

The transaction has been unanimously approved by the Board of Directors of both companies and is expected to be completed in the third quarter of 2025 subject to approval by shareholders of both ESSA and CNB, as well as regulatory approvals and other customary closing conditions.

Stephens Inc. is serving as CNB’s exclusive financial advisor, and Hogan Lovells US LLP is serving as
its legal advisor. Piper Sandler & Co rendered a fairness opinion to CNB’s board. PNC FIG Advisory, part of PNC Capital Markets LLC, is serving as ESSA’s exclusive financial advisor and rendered a fairness opinion to ESSA’s
board, and Luse Gorman LLP is serving as its legal advisor.

About CNB Financial Corporation

CNB Financial Corporation is a financial holding company with consolidated assets of approximately $6.0 billion. CNB Financial Corporation conducts
business primarily through its principal subsidiary, CNB Bank. CNB Bank is a full-service bank engaging in a full range of banking activities and services, including trust and wealth management services, for individual, business, governmental, and
institutional customers. CNB Bank operations include a private banking division, one drive-up office, one mobile office, and 55 full-service offices in Pennsylvania, Ohio, New York, and Virginia. CNB Bank,
headquartered in Clearfield, Pennsylvania, with offices in Central and North Central Pennsylvania, serves as the multi-brand parent to various divisions. These divisions include ERIEBANK, based in Erie,