Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 45

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 45
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. CNB or ESSA cannot guarantee when or if these conditions will be satisfied or that the merger will be successfully completed. The consummation of the merger may be delayed, the merger may be consummated on terms different than those contemplated by the merger agreement, or the merger may not be consummated at all. If the merger is not completed, the ongoing businesses of CNB and ESSA may be adversely affected, and CNB and ESSA will be subject to several risks, including the following:

| • |     | ESSA may be required, under certain circumstances, to pay CNB a termination fee of $8.8 million under the merger agreement; |

| • |     | CNB and ESSA could incur substantial costs relating to the proposed merger, such as legal, accounting, financial advisor, filing, printing and mailing fees; |

| • |     | under the merger agreement, ESSA is subject to certain restrictions on the conduct of its business prior to completing the merger, which may adversely affect its ability to execute certain of its business strategies; and |

| • |     | CNB’s and ESSA’s management’s and employees’ attention may be diverted from their day-to-day business and operational matters as a result of efforts relating to the attempt to consummate the merger. |

**In addition, if the merger is not completed, CNB and ESSA may experience negative reactions from the financial markets and from their respective customers and employees. CNB and ESSA also could be subject to litigation related to any failure to complete the merger or to enforcement proceedings commenced against CNB or ESSA to perform their respective obligations under the merger agreement. If the merger is not completed, CNB and ESSA cannot assure their respective shareholders that the risks described above will not materialize and will not materially affect the stock prices and business and financial results of CNB and ESSA. Certain of CNB’s directors and executive officers may have interests in the merger that are different from, or in addition to, those of CNB’s shareholders. CNB shareholders should be aware that some of CNB’s directors and executive officers may have interests in the merger and have arrangements that are different from, or in addition to, those of CNB shareholders. These interests and arrangements may create potential conflicts of interest. The CNB Board of Directors was aware of these interests and considered them, among other matters, when making its decision to approve the merger agreement and recommend that CN