Company: CCNE
Filing Date: 2025-03-03
Form Type: S-4/A
Source: 0001193125-25-044149
Chunk: 167

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-03
Form: S-4/A
Chunk 167
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 or divestitures. Piper Sandler used publicly available information to perform a similar analysis for ESSA by comparing selected financial information for ESSA with a group of financial institutions selected by Piper Sandler. The ESSA peer group included major exchange-traded (NASDAQ, NYSE and NYSEAM) banks headquartered in the Mid-Atlanticregion, as defined by S&P Capital IQ Pro, with total assets between $1.0 billion and $3.0 billion and LTM ROAA greater than 0.00%, but excluded targets of announced merger transactions (the “ESSA Peer Group”). The ESSA Peer Group consisted of the following companies:

| ACNB Corporation                        |     | LINKBANCORP, Inc.                 |
| Capital Bancorp, Inc.                   |     | Meridian Corporation              |
| CB Financial Services, Inc.             |     | Northeast Community Bancorp, Inc. |
| Chemung Financial Corporation           |     | Norwood Financial Corp.           |
| Citizens & Northern Corporation         |     | Orange County Bancorp, Inc.       |
| Esquire Financial Holdings, Inc.        |     | Parke Bancorp, Inc.               |
| Fidelity D & D Bancorp, Inc.            |     | Pathfinder Bancorp, Inc.          |
| First United Corporation                |     | Princeton Bancorp, Inc.           |
| Franklin Financial Services Corporation |     | SR Bancorp, Inc.                  |
| Hanover Bancorp, Inc.                   |     | Unity Bancorp, Inc.               |

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The analysis compared publicly available financial information for ESSA with corresponding data for the ESSA Peer Group as of or for the year ended September 30, 2024 (unless otherwise noted) with pricing data as of January 7, 2025. The table below sets forth the data for ESSA and the median, mean, low and high data for the ESSA Peer Group. Certain financial data prepared by Piper Sandler, as referenced in the table presented below, may not correspond to the data presented in ESSA’s historical financial statements, as a result of the different periods, assumptions and methods used by Piper Sandler to compute the financial data presented. ESSA Comparable Company Analysis

|                                               |     | ESSA |       |     | ESSA       
 Peer Group 
 Median     |       |     | ESSA       
 Peer Group 
 Mean       |       |     | ESSA       
 Peer Group