Company: CCNE
Filing Date: 2025-01-10
Form Type: 425
Source: 0001193125-25-004105
Chunk: 9

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-01-10
Form: 425
Chunk 9
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 together with
the Merger, the “”);

WHEREAS, as a material inducement to CNB to enter into this Agreement, each of
the directors and certain executive officers of ESSA set forth on has entered into a voting agreement with CNB dated as of the date hereof (an “”), substantially in the
form attached hereto as , pursuant to which each such director or executive officer has agreed, among other things, to vote all shares of ESSA Stock (as defined herein) owned by such person in favor of the approval of this Agreement
and the transactions contemplated hereby, upon the terms and subject to the conditions set forth in such agreement;

WHEREAS, as a
material inducement to ESSA to enter into this Agreement, each of the directors and certain executive officers of CNB set forth on has entered into a voting agreement with ESSA dated as of the date hereof (a
“”), substantially in the form attached hereto as , pursuant to which each such director or executive officer has agreed, among other things, to vote all shares of CNB Stock owned by such person
in favor of the CNB Share Issuance, upon the terms and subject to the conditions set forth in such agreement;

WHEREAS, for United
States federal income tax purposes, the parties intend the Merger to qualify as a reorganization within the meaning of Section 368(a) of the Internal Revenue Code of 1986, as amended and the regulations and formal guidance issued thereunder
(the “”), and that this Agreement be and hereby is adopted as a “plan of reorganization” within the meaning of Sections 354, 361 and 368 of the Code; and

WHEREAS, the parties desire to make certain representations, warranties and agreements in connection with the transactions described in
this Agreement and to prescribe certain conditions thereto.

1

NOW, THEREFORE, in consideration of the mutual promises herein contained and for
other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

ARTICLE I

THE MERGER

Section 1.01 . Subject to the terms and conditions of this Agreement, at the Effective Time, ESSA
shall merge with and into CNB, and CNB shall be the surviving entity (hereinafter sometimes referred to as the “”). Immediately thereafter, pursuant to the Plan of Bank Merger described in the following
sentence, ESSA Bank shall merge with and