Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 256

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 256
---
 expense incurred from the Pennsylvania Shares tax. |

| (AB) | Reflects elimination of historical amortization expense and recognition of the core deposit intangible asset of $31.4 million amortized over ten years using the sum-of-years digits method. |

| (AC) | Reflects incremental tax impact of respective adjustments (assuming a 21% tax rate). |

| (AD) | Reflects elimination of weighted average shares outstanding of ESSA. |

| (AE) | Reflects shares issued to ESSA as part of merger consideration. This is not a divestiture adjustment, but rather the shares issued as part of the merger consideration that CNB management determined to separately present. |

| (AF) | Reflects the estimated interest expense accretion on time deposits recognized on a straight-line basis over one year. |

| (AG) | Reflects provision for estimated credit losses for non-PCD loans to be recorded immediately following legal close of the transaction. |

| (AH) | Reflects release of provision associated with sold loans and establishment of provision expense of 1.1% against the loans funded as part of the divestiture adjustments. |

| (AI) | Reflects the net adjustment to record the gain/loss on the sale of $204.4 million worth of loans and $97.1 million of deposits as part of the divestiture adjustments. |

| (AJ) | Reflects pre-tax nonrecurring merger-related expenses expected to be incurred of $27.6 million ($23.3 million post-tax). |

196

CNB FINANCIAL CORPORATION UNAUDITED COMPARATIVE PER-SHAREDATA As of and for the Nine Months Ended September 30, 2024

|                                             |     | CNB       
 Financial 
 Corp      |       |     | ESSA     
 Bancorp, 
 Inc.     |       |     | Pro      
 Forma    
 Combined |       |     | Ref |     |   |     | Pro        
 Forma      
 Equivalent 
 ESSA       
 Share      |       |     | Ref |     |   |
|:--------------------------------------------|:----|:----------|------:|:----|:---------|------:|:----|:---------|------:|:----|:----|:----|:--|:----|:-----------|------:|:----|:----|:----|:--|
| Basic Earnings Per Common Share             |     | $         |  1