Company: CCNE
Filing Date: 2025-03-05
Form Type: 424B3
Source: 0001193125-25-047258
Chunk: 152

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-05
Form: 424B3
Chunk 152
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 | the pro forma financial impact of the merger on CNB based on certain assumptions relating to transaction                                                                                                                                        
 expenses, purchase accounting adjustments and cost savings, as well as the divestiture of certain ESSA branches and the sale of certain ESSA loans subsequent to the closing of the merger, as provided by the senior management of CNB and its 
 representatives;                                                                                                                                                                                                                                |

| • |     | the publicly reported historical price and trading activity for CNB common stock and ESSA common stock, including                                                                                                                           
 a comparison of certain stock trading information for CNB common stock and ESSA common stock and certain stock indices, as well as publicly available information for certain other companies, the securities of which are publicly traded; |

| • |     | a comparison of certain financial and market information for CNB and ESSA with similar financial institutions for 
 which information is publicly available;                                                                          |

| • |     | the financial terms of certain recent business combinations in the bank and thrift industry (on a regional and 
 nationwide basis), to the extent publicly available;                                                           |

| • |     | the current market environment generally and the banking environment in particular; and |

| • |     | such other information, financial studies, analyses and investigations and financial, economic and market 
 criteria as Piper Sandler considered relevant.                                                            |

Piper Sandler also discussed with certain members of the senior management of CNB and its representatives the business, financial condition, results of operations and prospects of CNB. 119

In performing its review, Piper Sandler relied upon the accuracy and completeness of all of the financial
and other information that was available to and reviewed by Piper Sandler from public sources, that was provided to Piper Sandler by CNB and its representatives, or that was otherwise reviewed by Piper Sandler, and Piper Sandler assumed such
accuracy and completeness for purposes of rendering its opinion without any independent verification or investigation. Piper Sandler relied on the assurances of the senior management of CNB that they were not aware of any facts or circumstances that
would have made any of such information inaccurate or misleading. Piper Sandler was not asked to and did not undertake an independent verification of any of such information and Piper Sandler did not assume any responsibility or liability for the
accuracy or completeness thereof. Piper Sandler did not make an independent evaluation or perform an appraisal of the specific assets, the collateral securing assets or the liabilities (contingent or otherwise) of CNB or ESSA, or any of their
res