Company: CCNE
Filing Date: 2025-01-10
Form Type: 425
Source: 0001193125-25-004105
Chunk: 8

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-01-10
Form: 425
Chunk 8
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62 |
| SEC                  |     | 12 |
| Securities Act       |     | 63 |
| Single Employer Plan |     | 17 |
| Software             |     | 63 |
| Subsidiary           |     | 63 |
| Superior Proposal    |     | 63 |
| Surviving Bank       |     |  2 |

| Surviving Corporation |     |  2 |
| Tax                   |     | 63 |
| Tax Returns           |     | 63 |
| Taxes                 |     | 63 |
| Transactions          |     |  1 |
| Voting Agreement      |     |  1 |
| WARN Act              |     | 63 |
| Willful Breach        |     | 63 |

vi

This AGREEMENT AND PLAN OF MERGER (this “”) is dated as of
January 9, 2025, by and among CNB Financial Corporation, a Pennsylvania corporation (“”), CNB Bank, a Pennsylvania-chartered nonmember bank and wholly-owned subsidiary of CNB (“”), ESSA Bancorp,
Inc., a Pennsylvania corporation (“”), and ESSA Bank & Trust, a Pennsylvania-chartered stock savings bank and wholly-owned subsidiary of ESSA (“”).

WITNESSETH

WHEREAS, the CNB Board has (i) determined that this Agreement and the business combination and related transactions contemplated
hereby are in the best interests of CNB and its shareholders; (ii) determined that this Agreement and the transactions contemplated hereby are consistent with and in furtherance of CNB’s business strategies; and (iii) approved and
declared advisable this Agreement and the transactions contemplated hereby, including the issuance of shares of CNB Stock (as defined herein) contemplated by this Agreement (the “”);

WHEREAS, the ESSA Board has (i) determined that this Agreement and the business combination and related transactions contemplated
hereby are in the best interests of ESSA and its shareholders; (ii) determined that this Agreement and the transactions contemplated hereby are consistent with and in furtherance of ESSA’s business strategies; and (iii) approved and
declared advisable this Agreement and the transactions contemplated hereby;

WHEREAS, in accordance with the terms of this
Agreement, ESSA will merge with and into CNB, with CNB surviving (the “”), and immediately thereafter, ESSA Bank will merge with and into CNB Bank, with CNB Bank surviving (the “” and,