Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 106

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 106
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2023 was primarily attributable to an increase in retail and business savings and retail time deposits across all of its markets; |

| • |     | At December 31, 2024, the total estimated uninsured deposits for CNB Bank were approximately $1.5 billion, or approximately 27.71% of total CNB Bank deposits. However, when excluding |

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| $101.9 million of affiliate company deposits and $429.0 million of pledged-investment collateralized deposits, the adjusted amount and percentage of total estimated uninsured deposits was approximately $986.0 million, or approximately 18.01% of total CNB Bank deposits as of December 31, 2024. |

| • |     | At December 31, 2024, CNB had $375.0 million of cash equivalents held in CNB Bank’s interest-bearing deposit account at the Federal Reserve. These excess funds, when combined with collective contingent liquidity resources of $4.6 billion including (i) available borrowing capacity from the Federal Home Bank of Pittsburgh (“FHLB”) and the Federal Reserve, and (ii) available unused commitments from brokered deposit sources and other third-party funding channels, including previously established lines of credit from correspondent banks, resulted in the total on-hand and contingent liquidity sources for CNB as of December 31, 2024 to be approximately 5.0 times the estimated amount of adjusted uninsured deposit balances discussed above. |

Say-on-PayResults and Shareholder Outreach At the 2024 annual meeting of CNB shareholders, 13,586,047 shares, or 98.4% of votes cast, were for approval, on an advisory basis, of the compensation paid to CNB’s NEOs as disclosed in CNB’s proxy statement for that annual meeting. The ECC considered this affirmative feedback during 2024 when reviewing and determining CNB’s executive pay program and policies. CNB continues to have an annual say-on-payvote on an advisory basis. Prior to the 2025 annual meeting of CNB shareholders, as directed by the CNB Board of Directors, CNB conducted an institutional shareholder outreach program to the largest shareholders. CNB directly contacted shareholders representing approximately 47% of all outstanding shares and approximately 77% of shares that were institutionally held. Three institutional shareholders, collectively owning 11% of shares outstanding, responded to CNB’s request to discuss corporate governance topics in general, while six other investors, collectively owning 14% of shares outstanding, responded that a call