Company: CCNE
Filing Date: 2025-03-03
Form Type: S-4/A
Source: 0001193125-25-044149
Chunk: 190

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-03
Form: S-4/A
Chunk 190
---
 $        |  24.45 |     | $                        |  26.30 |     | $     |  28.45 |     | $     |  30.80 |     | $     |  33.36 |

| (1) | Tangible book value per common share is a non-GAAP measure and is calculated by dividing tangible common equity by the number of shares outstanding. |

Certain Unaudited Prospective Financial Information of ESSA ESSA does not as a matter of course make public long-term projections as to future revenues, earnings or other results due to, among other reasons, the inherent uncertainty of the underlying assumptions and estimates. However, in connection with the merger, ESSA’s management prepared and provided to the ESSA Board of Directors in connection with its evaluation of the transaction, and to its financial advisor, PNC FIG Advisory, including performing financial analyses in connection with PNC FIG Advisory’s opinion as described above under the section entitled “—Opinion of ESSA’s Financial Advisor,” certain unaudited prospective financial information regarding ESSA’s operations described below (the “ESSA Projections”). The below summary of the ESSA Projections is included for the purpose of providing ESSA and CNB shareholders access to certain nonpublic information that was furnished to certain parties in connection with the merger, and such information may not be appropriate for other purposes and is not included to influence the voting decision of any ESSA or CNB shareholder. 143

ESSA’s unaudited prospective financial information was not prepared with a view toward public disclosure, nor was it prepared with a view toward compliance with published guidelines of the SEC or the guidelines established by the American Institute of Certified Public Accountants for preparation and presentation of prospective financial information. The inclusion of this unaudited prospective financial information should not be regarded as an indication that such information is necessarily predictive of actual future events or results and such information should not be relied upon as such, and readers of this joint proxy statement/prospectus are cautioned not to place undue reliance on the unaudited prospective financial information. The unaudited prospective financial information included in this joint proxy statement/prospectus has been prepared by, and is the responsibility of, ESSA management.

While presented with numeric specificity, this unaudited prospective financial information was based on numerous variables and assumptions (including assumptions related to industry performance and general business, economic, market and financial conditions and additional matters specific to ESSA