Company: CCNE
Filing Date: 2025-03-05
Form Type: 424B3
Source: 0001193125-25-047258
Chunk: 149

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-05
Form: 424B3
Chunk 149
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’s shareholders with increased opportunities to trade on its common stock; |

| • |     | the structure of the merger and the financial and other terms of the merger agreement, including the fixed 
 exchange ratio;                                                                                            |

| • |     | the deal protection provided by the terms of the merger agreement and the termination fee of $8.8 million to 
 CNB under certain circumstances;                                                                             |

| • |     | the intended tax treatment of the merger as a tax-free reorganization; 
 and                                                                    |

| • |     | the likelihood of receiving all of the regulatory approvals and/or waivers required for the merger. |

The CNB Board of Directors also considered potential risks relating to the merger, including the following:

| • |     | the regulatory and other approvals and/or waivers required in connection with the merger and the expectation that                   
 such regulatory approvals and/or waivers will be received in a timely manner and without the imposition of unacceptable conditions; |

| • |     | the potential for diversion of management and employee attention, and for employee attrition, during the period                                                                                  
 prior to the completion of the merger and the potential effect on CNB’s business and relations with customers, service providers and other stakeholders, whether or not the merger is completed; |

| • |     | expected benefits and synergies sought in the merger, including cost savings and CNB’s ability to market                             
 successfully its financial products to ESSA’s customers, may not be realized or may not be realized within the expected time period; |

| • |     | potential risks associated with significant negative trends in the economic and regulatory environments that 
 could pose additional challenges to CNB’s achievement of the expected financial benefits of the merger;      |

117

| • |     | due to the fixed exchange ratio, the market value of the merger consideration—and in turn the purchase price               
 paid by CNB to acquire ESSA—could increase prior to the effective time if the trading price of CNB common stock increases; |

| • |     | the challenges of integrating the businesses, operations and employees of ESSA and CNB; and |

| • |     | the other risks described in the section entitled “Risk Factors” beginning on page 21. |

In considering the recommendation of the CNB Board of Directors, you should be aware that certain directors and executive officers of CNB may have interests in the merger that are different from, or in addition to, interests of shareholders of CNB generally and may create potential conflicts of interest. The CNB Board of