Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 260

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 260
---
46ProceedingA-45Regulatory ApprovalsA-27Regulatory OrderA-13A-v
| Rights               |     | A-62 |
| SEC                  |     | A-12 |
| Securities Act       |     | A-63 |
| Single Employer Plan |     | A-17 |
| Software             |     | A-63 |
| Subsidiary           |     | A-63 |
| Superior Proposal    |     | A-63 |
| Surviving Bank       |     | A-2  |

| Surviving Corporation |     | A-2  |
| Tax                   |     | A-63 |
| Tax Returns           |     | A-63 |
| Taxes                 |     | A-63 |
| Transactions          |     | A-1  |
| Voting Agreement      |     | A-1  |
| WARN Act              |     | A-63 |
| Willful Breach        |     | A-63 |

A-vi

This AGREEMENT AND PLAN OF MERGER (this “Agreement”) is dated as of January 9, 2025, by and among CNB Financial Corporation, a Pennsylvania corporation (“CNB”), CNB Bank, a Pennsylvania-chartered nonmember bank and wholly-owned subsidiary of CNB (“CNB Bank”), ESSA Bancorp, Inc., a Pennsylvania corporation (“ESSA”), and ESSA Bank & Trust, a Pennsylvania-chartered stock savings bank and wholly-owned subsidiary of ESSA (“ESSA Bank”).

<div align='center'>**WITNESSETH**</div>

WHEREAS, the CNB Board has (i) determined that this Agreement and the business combination and related transactions contemplated hereby are in the best interests of CNB and its shareholders; (ii) determined that this Agreement and the transactions contemplated hereby are consistent with and in furtherance of CNB’s business strategies; and (iii) approved and declared advisable this Agreement and the transactions contemplated hereby, including the issuance of shares of CNB Stock (as defined herein) contemplated by this Agreement (the “CNB Share Issuance”);

WHEREAS, the ESSA Board has (i) determined that this Agreement and the business combination and related transactions contemplated hereby are in the best interests of ESSA and its shareholders; (ii) determined that this Agreement and the transactions contemplated hereby are consistent with and in furtherance of ESSA’s business strategies; and (iii) approved and declared advisable this Agreement and the