Company: CCNE
Filing Date: 2025-04-09
Form Type: 425
Source: 0001193125-25-076836
Chunk: 9

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-04-09
Form: 425
Chunk 9
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| Equity risk premium |     |  5.00 | %  |
| Size premium        |     |  1.99 | %  |
| Industry premium    |     | (1.15 | )% |

Source: Kroll Cost of Capital Navigator. 12. The disclosure under the heading “The Merger — Opinion of ESSA’s Financial Advisor — Other Disclosures” is hereby supplemented by adding the following paragraphs as the next-to-lastparagraphs of this subsection on page 142: Other than PNC FIG Advisory’s present engagement, PNC did not provide any services to ESSA during the two years ended February 28, 2025. For ESSA Bank, PNC provides fixed income, derivative/hedging services, letters of credit, and a fed funds line, and PNC’s fees received from ESSA Bank for these services were less than $50,000 in the aggregate during the 12 months ended February 28, 2025.

PNC provides the following services to CNB Bank: fixed income services, derivative/hedging, foreign exchange, letters of credit, a fed funds line, and an interest bearing DDA, and PNC’s fees received from CNB for these services were less than $300,000 in the aggregate during the 12 months ended February 28, 2025, a substantial portion of which fees related to foreign exchange. 13. The disclosure under the heading “The Merger — Certain Unaudited Prospective Financial Information of CNB” is hereby supplemented by adding the following sentence below the table on page 143: The future dividend assumption which CNB management provided to Piper Sandler for purposes of its financial analysis was also provided to PNC FIG Advisory for the seven-year period reflected in the discounted cash flow analysis of CNB performed by PNC FIG Advisory. 14. The disclosure under the heading “The Merger — Certain Unaudited Prospective Financial Information of ESSA” is hereby amended by deleting the table on page 145 and replacing it with the following:

|            |     | Fiscal Year Ending September 30, 
 2025E                            |        |     | 2026E |        |     | 2027E |        |     | 2028E |        |     | 2029E |        |     | 2030E |        |     | 2031E |        |
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