Company: CCNE
Filing Date: 2025-01-10
Form Type: 425
Source: 0001193125-25-004105
Chunk: 130

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-01-10
Form: 425
Chunk 130
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72% CNB / 28% ESSA Ownership • 13 Directors; 10 from CNB (including Michael D. Peduzzi) / 3 from ESSA • New CNB Board seats to be filled by Gary S. Olson (ESSA CEO), Robert C. Selig Jr. (ESSA Chairman) and Daniel J. Board of Henning (ESSA Director). Mr. Olson will also have a role as strategic advisor to CNB's CEO Directors • Following the closing of the transaction, CNB will form an Advisory Board for the ESSA Bank division (the “ESSA Advisory Board”) • ESSA and its wholly owned bank subsidiary ESSA Bank will merge with and into CNB and its wholly owned bank subsidiary CNB Bank, respectively • Upon closing, CNB Bank will operate the legacy ESSA Bank as a division of CNB Bank under the branding “ESSA Bank, a Pro Forma division of CNB Bank” Operating Structure • Contemplated structure is consistent with previous strategic M&A transactions executed by CNB • CNB anticipates accelerating growth in the Greater Lehigh Valley and Scranton market areas utilizing its commercial oriented playbook and expanding fee-based business lines • Subject to receipt of approvals from shareholders at both companies as well as customary regulatory approvals Timing and Approvals • Anticipated closing in Q3 2025 Source: Bloomberg. 6 (1) Utilizes CCNE’s 10-day VWAP of $24.69 as of 1/8/2025. Deal value is shown prior to ESSA ESOP loan paydown.

Overview of Bancorp, Inc. (NASDAQ: ESSA) Company Overview & Key Highlights Financial Highlights as of 9/30/2024 (Fiscal Year End) • Founded in 1916 • Headquartered in Stroudsburg, PA • Operating footprint includes 20 retail branch (1) locations throughout the Lehigh Valley, Northern Pennsylvania, and Southeastern Pennsylvania regions • #3 rank by deposit market share in the (2) Greater Lehigh Valley • Granular deposit base and strong, long- tenured brand in its core markets (4) (4) Loan Composition Deposit Composition • Liability sensitive profile with 79% of CD’s repricing over the next 12 months • Pristine credit quality with only 4bps of cumulative net charge-offs over the last 5 years (3) High Quality Core Deposit Franchise 10.4yrs $26K 64% Weight