Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 185

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 185
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 Advisory performed a selected companies analysis by comparing the financial and stock performance of CNB with those of the following 11 selected publicly traded financial institutions, referred to as the selected companies, that were headquartered in Pennsylvania, Ohio, or New York excluding the greater New York City area, that were not mutual institutions or merger or acquisition targets and that had September 30, 2024 assets between $5.0 billion and $10.0 billion: Description of Selected Companies

| Institution                       |     | City, State    |     | Ticker |     | Exchange |
| Farmers National Banc Corp.       |     | Canfield, OH   |     | FMNB   |     | NASDAQCM |
| Financial Institutions, Inc.      |     | Warsaw, NY     |     | FISI   |     | NASDAQGS |
| Mid Penn Bancorp, Inc.            |     | Harrisburg, PA |     | MPB    |     | NASDAQGM |
| Orrstown Financial Services, Inc. |     | Harrisburg, PA |     | ORRF   |     | NASDAQCM |
| Park National Corporation         |     | Newark, OH     |     | PRK    |     | NYSEAM   |
| Peoples Bancorp Inc.              |     | Marietta, OH   |     | PEBO   |     | NASDAQGS |
| Peoples Financial Services Corp.  |     | Scranton, PA   |     | PFIS   |     | NASDAQGS |
| S&T Bancorp, Inc.                 |     | Indiana, PA    |     | STBA   |     | NASDAQGS |
| Tompkins Financial Corporation    |     | Ithaca, NY     |     | TMP    |     | NYSEAM   |
| TrustCo Bank Corp NY              |     | Glenville, NY  |     | TRST   |     | NASDAQGS |
| Univest Financial Corporation     |     | Souderton, PA  |     | UVSP   |     | NASDAQGS |

139

PNC FIG Advisory compared the financial performance of CNB and the selected companies as indicated in the following table: Financial Performance of CNB and Selected Companies (1)

|                 |     | Assets        
 (in millions) |       |     | Efficiency 
 Ratio      |      |   |     | Tangible     
 Comm.        
 Equity/      
 Tang. Assets |       |   |     | NIM |      |   |