Company: CCNE
Filing Date: 2025-03-05
Form Type: 424B3
Source: 0001193125-25-047258
Chunk: 202

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-05
Form: 424B3
Chunk 202
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 party in connection with the negotiation of the merger agreement, and generally were solely for the benefit of the parties to that agreement.

Structure

Subject to the
terms and conditions of the merger agreement, and in accordance with Pennsylvania Business Corporation Law of 1988 (the “BCL”) and the regulations promulgated thereunder, at the completion of the merger, (i) ESSA will merge with and
into CNB and (ii) ESSA Bank will merge with and into CNB Bank. CNB and CNB Bank will be the surviving entities in the merger and will continue their existences under the laws of the Commonwealth of Pennsylvania. Upon completion of the merger,
the separate existences of ESSA and ESSA Bank will terminate.

The articles of incorporation and the bylaws of CNB will remain as the articles of
incorporation and bylaws of CNB and the articles of incorporation and the bylaws of CNB Bank will remain as the articles of incorporation and bylaws of CNB Bank. See the section entitled “Comparison of Shareholder Rights” beginning on
page 175.

The merger agreement provides that CNB may, at any time prior to the effective time, change the method of effecting the business
combination of CNB and ESSA and CNB Bank and ESSA Bank. However, no such change may (i) alter or change the merger consideration, (ii) adversely affect the tax treatment of ESSA’s shareholders pursuant to the merger agreement,
(iii) adversely affect the tax treatment of CNB or ESSA in connection with the merger, or (iv) be reasonably likely to materially impede or delay consummation of the transactions contemplated by the merger agreement.

Effective Time and Timing of Closing

The merger can be completed and become effective after the following steps are completed: (i) approval of the merger by the FDIC and the PADOBS (and
expiration of the related statutory waiting periods) and receipt of the Federal Reserve Bank of Philadelphia’s approval of the application waiver request (or approval of the merger by the Federal Reserve Bank of Philadelphia if the waiver
request is denied), (ii) approval of the issuance of CNB common stock in connection with the merger by the CNB shareholders, (iii) approval of the merger by the shareholders of ESSA, and (iii) filing of all documents as may be required by
applicable laws and regulations to consummate the merger, including a statement of merger with the Department