Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 177

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 177
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 • |     | the regulatory and other approvals required in connection with the merger and the bank merger and the risk that such regulatory approvals may not be received in a timely manner or may impose unacceptable conditions; |

| • |     | the possibility that the merger may not be completed despite the combined efforts of ESSA and CNB, or that completion may be unduly delayed, even if the required regulatory approvals are obtained and the requisite approvals are obtained from ESSA and CNB shareholders, including as a result of factors outside ESSA’s and CNB’s control; |

131

| • |     | the potential for legal claims challenging the merger; |

| • |     | the potential for the value of the merger consideration to be received by holders of shares of ESSA common stock to be adversely affected by a decrease in the trading price of CNB common stock; |

| • |     | the fact ESSA’s directors and executive officers may have interests in the merger that are different from or in addition to those of its shareholders generally, as more fully described in the section entitled “—Interests of Certain ESSA Directors and Executive Officers in the Merger” beginning on page 144; |

| • |     | the fact that ESSA may be obligated to pay CNB a termination fee of $8.8 million if the merger with CNB is not completed under certain circumstances, as more fully described in the section entitled “The Merger Agreement—Termination Fee” beginning on page 170; |

| • |     | the fact that ESSA’s common shareholders would not be entitled to appraisal or dissenters’ rights in connection with the merger; |

| • |     | the restrictions on the conduct of ESSA’s business during the period between execution of the merger agreement and the consummation of the merger, which could potentially delay or prevent ESSA from undertaking business opportunities that might arise or certain other actions it might otherwise take with respect to its operations absent the pendency of the merger; and |

| • |     | the other risks of the type and nature described in the sections entitled “Risk Factors” and “Information Regarding Forward-Looking Statements” beginning on pages 21 and 30, respectively, including but not limited to the risks described in the section titled “Risk Factors—Risks Relating to the Merger.” |

In considering the recommendation of the ESSA Board of Directors, you should be aware that certain directors and executive officers of ESS