Company: CCNE
Filing Date: 2025-03-05
Form Type: 424B3
Source: 0001193125-25-047258
Chunk: 197

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-05
Form: 424B3
Chunk 197
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 restrain trade, unless the FDIC finds that the anticompetitive effects of the bank merger are clearly outweighed in the public interest by the probable effect of the transaction in meeting the convenience 
 and needs of the communities to be served.                                                                                                                                                                                                               |

In every case, the FDIC is required to consider the financial and managerial resources and future prospects of the institutions concerned, the convenience and needs of the communities to be served, and the effectiveness of each insured depository institution involved in the proposed merger in combating money-laundering activities. Consideration of financial resources generally focuses on capital adequacy of the institutions involved. In assessing the convenience and needs of the community to be served, the FDIC will consider such elements as the extent to which the proposed merger is likely to benefit the general public through higher lending limits, new or expanded services, reduced prices, increased convenience in utilizing the services and facilities of the resulting institution, or other means. The FDIC, as required by the Community Reinvestment Act of 1977, as amended, will also note and consider the record of performance of CNB Bank and ESSA Bank in meeting the credit needs of the entire community, including low and moderate-income neighborhoods. An unsatisfactory record may form the basis for denial or conditional approval of an application. Pennsylvania Department of Banking and Securities Pursuant to Chapter 16 of the Pennsylvania Banking Code of 1965, as amended, a merger that will result in a Pennsylvania state-chartered institution must be approved by the PADOBS and under Section 115 of the Pennsylvania Banking Code, as amended, an acquisition of a Pennsylvania bank by a bank holding company must also be approved by the PADOBS. Therefore, the PADOBS must approve both the holding company merger and the bank merger. In every proposed merger transaction the PADOBS must consider, among other things, whether the proposed transaction adequately protects the interests of depositors, other creditors and shareholders. The PADOBS also must consider whether the proposed transaction would be consistent with adequate and sound banking and in the public interest on the basis of the financial history and condition of the parties, their prospects, the character of their management, the potential effect of the merger or consolidation on competition and the convenience and needs of the area primarily to be served by the resulting institution. Federal Reserve Bank of Philadelphia CNB will seek a waiver from the Federal Reserve Bank of Philadelphia (acting on delegated authority from the Board of Governors of the Federal Reserve System) from application requirements associated with the holding company merger pursuant to