Company: CCNE
Filing Date: 2025-03-03
Form Type: S-4/A
Source: 0001193125-25-044149
Chunk: 48

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-03
Form: S-4/A
Chunk 48
---
 and resources to it. These efforts could divert management’s focus and resources from serving existing customers or other strategic opportunities and from day-to-day operational matters during the integration process. Failure to successfully integrate the operations of CNB and ESSA could result in the failure to achieve some of the anticipated benefits from the transaction, including cost savings and other operating efficiencies, and CNB may not be able to capitalize on the existing relationships of ESSA to the extent anticipated, or it may take longer, or be more difficult or expensive than expected to achieve these goals. This could have an adverse effect on the business, results of operations, financial condition or prospects of CNB and CNB Bank after the transaction.

Unanticipated costs relating to the merger could reduce CNB’s future earnings per share.

CNB has incurred substantial legal, accounting, financial advisory and other merger-related costs, and CNB’s management has devoted considerable time and effort in connection with the merger. If the merger is not completed, CNB will bear certain fees and expenses associated with the merger without realizing the benefits of the merger. If the merger is completed, CNB expects to incur substantial expenses in connection with integrating the business, operations, network, systems, technologies, policies and procedures of the two companies. The fees and expenses may be significant and could have an adverse impact on CNB’s results of operations.**

<div align='center'>26</div>

CNB believes that it has reasonably estimated the likely costs of integrating the operations of CNB and ESSA, and the incremental costs of operating as a combined company. However, it is possible that unexpected transaction costs such as taxes, fees or professional expenses or unexpected future operating expenses such as increased personnel costs or increased taxes, as well as other types of unanticipated adverse developments, could have a material adverse effect on the results of operations and financial condition of the combined company. If unexpected costs are incurred, the merger could have a dilutive effect on CNB’s earnings per share. In other words, if the merger is completed, the earnings per share of CNB common stock could be less than anticipated or even less than if the merger had not been completed. Estimates as to the future value of the combined company are inherently uncertain. You should not rely on such estimates without considering all of the information contained or incorporated by reference into this joint proxy statement/prospectus. Any estimates as to the future value of the combined company, including estimates regarding the earnings per share of the combined company, are inherently uncertain. The future value of