Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 46

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 46
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B’s shareholders vote to approve the CNB share issuance proposal. For a more complete description of these interests, please see the section entitled “The Merger—Interests of Certain CNB Directors and Executive Officers in the Merger” beginning on page 144. 25

Certain of ESSA’s directors and executive officers may have interests in the merger that are different from, or in addition to, those of ESSA’s shareholders.

ESSA shareholders should be aware that some of ESSA’s directors and executive officers may have interests in the merger and have arrangements that are different from, or in addition to, those of ESSA shareholders. These interests and arrangements may create potential conflicts of interest. The ESSA Board of Directors was aware of these interests and considered them, among other matters, when making its decision to approve the merger agreement and recommend that ESSA’s shareholders vote to approve the ESSA merger proposal. For a more complete description of these interests, please see the section entitled “The Merger—Interests of Certain ESSA Directors and Executive Officers in the Merger” beginning on page 144.

Risks Relating to the Combined Company if the Merger is Completed

The integration of CNB and ESSA will present significant challenges and expenses that may result in the combined business not operating as effectively as expected, or in the failure to achieve some or all of the anticipated benefits of the transaction.

The benefits and synergies expected to result from the proposed transaction will depend in part on whether the operations of ESSA can be integrated in a timely and efficient manner with those of CNB. CNB will face challenges and costs in consolidating its functions with those of ESSA and integrating the organizations, procedures and operations of the two businesses. The integration of CNB and ESSA will be complex and time-consuming, and the management of both companies will have to dedicate substantial time 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