Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 165

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 165
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 Value 
 January 7, 2025 |   |
|:------------------|:----|:----|----------------:|:--|:----|:----|----------------:|:--|
| ESSA              |     |     |           100.0 | % |     |     |            94.3 | % |
| ESSA Peer Group   |     |     |           100.0 | % |     |     |           108.8 | % |
| S&P 500 Index     |     |     |           100.0 | % |     |     |           125.8 | % |
| NASDAQ Bank Index |     |     |           100.0 | % |     |     |           117.9 | % |

122

ESSA’s Three-Year Stock Performance

|                   |     |     | Beginning Value 
 January 7, 2022 |   |     |     |    Ending Value 
 January 7, 2025 |   |
|:------------------|:----|:----|----------------:|:--|:----|:----|----------------:|:--|
| ESSA              |     |     |           100.0 | % |     |     |           108.7 | % |
| ESSA Peer Group   |     |     |           100.0 | % |     |     |           111.4 | % |
| S&P 500 Index     |     |     |           100.0 | % |     |     |           126.3 | % |
| NASDAQ Bank Index |     |     |           100.0 | % |     |     |            81.9 | % |

Comparable Company Analyses Piper Sandler used publicly available information to compare selected financial information for CNB with a group of financial institutions selected by Piper Sandler. The CNB peer group included major exchange-traded (NASDAQ, NYSE and NYSEAM) banks headquartered in the Mid-Atlanticregion, as defined by S&P Capital IQ Pro, with total assets between $3.0 billion and $9.0 billion, but excluded The Bancorp, Inc. (TBBK) due to its non-traditionalbusiness model and targets of announced merger transactions (the “CNB Peer Group”). The CNB Peer Group consisted of the following companies:

| Amalgamated Financial Corp.       |     | Northfield