Company: CCNE
Filing Date: 2025-03-05
Form Type: 424B3
Source: 0001193125-25-047258
Chunk: 36

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-05
Form: 424B3
Chunk 36
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 Merger(Page 152) The merger will be accounted for using the acquisition method of accounting with CNB treated as the acquirer. Under this method of accounting, ESSA’s assets and liabilities will be recorded by CNB at their respective fair values as of the closing date of the merger and added to those of CNB. Any excess of purchase price over the net fair values of ESSA’s assets and liabilities will be recorded as goodwill. Any excess of the fair value of ESSA’s net assets over the purchase price will be recognized as earnings by CNB on the closing date of the merger. Dissenters’ Rights(Page 153) ESSA shareholders are not entitled to appraisal or dissenters’ rights with respect to the merger.

19

Listing of CNB Common Stock to be Issued in the Merger(Page 153)

CNB common stock will continue to trade on NASDAQ under the symbol “CCNE.”

Litigation Related to the Merger(Page 153)

Since the initial filing on February 20, 2025 of the registration statement of which this joint proxy statement/prospectus is a part, CNB has
received one demand letter (“Demand Letter”) from a purported CNB shareholder generally alleging that the registration statement filed with the SEC on February 20, 2025 omits material information in violation of the federal securities
laws. The shareholder has demanded disclosure of certain additional information pertaining to certain financial projections for CNB and ESSA, certain information with respect to Piper Sandler’s analysis, and other requested disclosures. Please
see the section of this joint proxy statement/prospectus entitled “Risk Factors—Risks Relating to the Merger—Since the initial filing on February 20, 2025 of the registration statement of which this joint proxy
statement/prospectus is a part, CNB and the CNB Board of Directors has received one Demand Letter from a purported CNB shareholder, which could result in litigation related to the merger being filed against CNB, the CNB Board of Directors, and/or
ESSA and the ESSA Board of Directors, and additional demand letters may be received or litigation may be filed against them, which could prevent or delay the completion of the merger or otherwise negatively impact the business and operations of CNB
and ESSA” beginning on page 25 for more information.

Differences Between Rights of CNB and ESSA Shareholders(Page 175)

As a result of the merger, holders of ESSA