Company: CCNE
Filing Date: 2025-01-10
Form Type: 425
Source: 0001193125-25-004105
Chunk: 132

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-01-10
Form: 425
Chunk 132
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 the Region Lehigh Valley by Gross Domestic by Total Assets Deposit Market Share Product (3) +15K 11 33% Total Colleges and Of Total U.S Businesses Universities Population Within In the Region In the Region Regional Proximity (1) ESSA is the Largest Bank Headquartered in the Lehigh Valley Total Assets in Millions as of 9/30/2024 Room to Further Scale-up ESSA’s Branches in Market Average Deposits per Branch ($M) (3) (4) (1) (1)(2) Source: S&P Global Market Intelligence; FDIC (data as of 6/30/2024); Lehigh Valley Economic Development Corporation (LVEDC). (1) Greater Lehigh Valley is defined as Carbon, Lehigh, Monroe, and Northampton counties in Pennsylvania. (2) Excludes banks with total assets greater than $100 billion as of 9/30/2024. 9 (3) Excludes ESSA’s brokered and listing deposits as of 6/30/2024. Includes only retail branches within the Greater Lehigh Valley. (4) Includes CNB’s full branch franchise.

Combination Unlocks Potential Significant Synergized Earnings $ in millions Historical Net Income Projected Net Income Contributed by ESSA Inclusive of Cost Saves & Mark-to-Market Impact Discount of 6.7% modeled (primarily rate) and accreted into earnings over 6 years; portfolio currently yields 5.19% Inclusive of balance sheet repositioning of ~$200 million in loans and ~$100 million in deposits (2) (3) (4) (1) 0.85% 0.78% 0.80% 1.88% 2.33% Approx. +108bps ROAA ROAA ROAA ROAA ROAA ▪ ESSA 2026E standalone net income takes into consideration declining and flat interest rate scenarios, aligned with bank industry research analyst rate forecasts ▪ 2026E pre-tax cost savings of $20.5 million, or 40% of ESSA projected noninterest expense, based on bottoms-up analysis ▪ Interest rate mark-to-market improves ESSA standalone NIM by ~100+bps ▪ No revenue enhancements factored into modeling (but identified) Source: S&P Global Market Intelligence; Company documents. (1) Internal CCNE management estimates inclusive of contemplated balance sheet re-positioning strategies. 10