Company: CCNE
Filing Date: 2025-03-03
Form Type: S-4/A
Source: 0001193125-25-044149
Chunk: 205

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-03
Form: S-4/A
Chunk 205
---
 and the Federal Reserve Bank of Philadelphia. CNB and CNB Bank have filed or will file all required applications, notices and waiver requests to obtain the regulatory approvals and waivers necessary to consummate the merger. CNB and ESSA cannot predict whether the required regulatory approvals will be obtained, when they will be received or whether such approvals will be subject to any conditions. In addition to the foregoing, notice to the U.S. Department of Justice with respect to the merger is required in connection with the ESSA Consent Order. Such notice was provided on January 13, 2025. The ESSA Bank Consent Order requires CNB Bank to assume ESSA Bank’s obligations under the ESSA Bank Consent Order as part of the merger, which CNB has agreed to do under the merger agreement. 151

Federal Deposit Insurance Corporation To consummate the merger, CNB will seek the approval of the FDIC for the bank merger specifically under Section 18(c) of the Federal Deposit Insurance Act, as amended, which is commonly known as the Bank Merger Act. The FDIC may not approve the bank merger if:

| • |     | such transaction would result in a monopoly or would be in furtherance of any combination or conspiracy to monopolize or attempt to monopolize the business of banking in any part of the United States; or |

| • |     | the effect of such transaction, in any section of the country, may be to substantially lessen competition, or tend to create a monopoly, or in any manner 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