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Here are a few analogies for CNB Financial (CCNE):

• It's like a regional, community-focused PNC Bank, serving its customers in Pennsylvania, Ohio, and New York with personalized service.
• Think of it as the local, personalized version of a Bank of America, building strong relationships within its specific neighborhoods.
• It's like a small-town Chase Bank, emphasizing deep local ties and comprehensive financial services rather than a national footprint.

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• Deposit Accounts: Provides various checking, savings, money market, and certificate of deposit accounts for personal and business customers.
• Lending Services: Offers a range of commercial loans, residential mortgages, home equity loans, and consumer loans to individuals and businesses.
• Wealth Management & Trust Services: Delivers financial planning, investment management, and fiduciary services to individuals, families, and businesses.
• Treasury Management: Assists businesses with cash flow optimization through services such as remote deposit capture, ACH origination, and online cash management.
• Digital Banking Services: Enables convenient account management through online banking, mobile banking, bill pay, and electronic statements.

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CNB Financial (symbol: CCNE) is a bank holding company that operates primarily through its subsidiary, CNB Bank. As a financial institution, it serves a diverse customer base rather than having a few "major customers" in the traditional sense that might be found in manufacturing or retail. Its business model involves providing a wide array of financial products and services to numerous clients across different segments.

The company primarily serves both individuals and various types of organizations. Given the diversified nature of a community bank's customer base, it is most appropriate to describe the categories of customers it serves:

• Individual Consumers and Households: This category includes individuals and families who utilize a broad range of personal banking services. These services typically include checking and savings accounts, certificates of deposit, residential mortgages, home equity loans, personal loans, and wealth management services.
• Small to Medium-sized Businesses (SMBs): CNB Financial provides essential banking and financial services to a wide array of local and regional businesses. This includes commercial loans, lines of credit, business checking and savings accounts, treasury management services, and other business solutions tailored to support their operations and growth.
• Governmental and Non-Profit Entities: The bank also serves local government agencies, municipalities, and various non-profit organizations within its operating footprint. Services for these entities often include depository accounts, cash management solutions, and sometimes specialized lending products.

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Michael D. Peduzzi President and Chief Executive Officer

Mr. Peduzzi joined CNB Bank as President and Chief Operating Officer in August 2021 and assumed the role of President and Chief Executive Officer of CNB Bank in July 2022. He has over 34 years of experience in banking and financial services, having most recently served as Senior Executive Vice President and Chief Financial Officer of another Pennsylvania community bank. During his five-year tenure at his previous institution, the bank grew from less than $1 billion to over $3 billion in assets. He is also a licensed Certified Public Accountant (CPA).

Tito L. Lima Senior Executive Vice President, Chief Financial Officer & Treasurer

Mr. Lima has over 31 years of experience in various areas of banking. Prior to joining CNB Financial Corporation in 2019, he served as Executive Vice President and Chief Financial Officer at NexTier Bank, N.A. from 2015 to June 2019. Before that, Mr. Lima was the Executive Vice President of Finance for National Penn Bancshares from 2013 to 2015.

Martin T. Griffith Senior Executive Vice President and Chief Revenue Officer

Mr. Griffith has been with CNB Bank since 2016. He previously held positions as the founding President of the BankOnBuffalo division and Chief Banking Officer. In his current role, he is responsible for developing and implementing growth and revenue generation strategies across the Bank's primary sources of interest income and fees, including Commercial Banking, Private Banking, and Wealth and Asset Management.

Michael J. Noah Executive Vice President and Chief Operating Officer

Mr. Noah joined CNB Bank in 2017 and served as the Regional President of its BankOnBuffalo division since 2021. As Chief Operating Officer, he leads the Bank's Regional Presidents to ensure the implementation of loan and deposit growth strategies and to integrate revenue generation and efficiency management activities across the Bank's divisions. He has more than 20 years of banking experience in commercial and small business lending.

Leanne D. Kassab Senior Executive Vice President, Chief Experience Officer & Assistant Secretary

Ms. Kassab joined CNB Bank in 1996 as a Marketing Assistant. She has served as the Senior Risk Officer for the company's Enterprise Risk Management Program from 2013 to 2015.

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The clear emerging threats for CNB Financial (CCNE) include:

1. Neobanks and Fintech Competitors: Digital-first banks and specialized fintech companies pose a significant threat by offering core banking services such as deposits, lending, and payments with superior digital experiences, often lower fees, and higher interest rates on deposits. Companies like Chime, SoFi, and Ally Bank attract customers, especially younger demographics, by leveraging advanced technology and leaner operating models, directly challenging traditional brick-and-mortar banks for market share and customer relationships.

2. Expansion of Large Technology Companies (Big Tech) into Financial Services: Companies such as Apple, Google, and Amazon are increasingly integrating financial products and services into their existing ecosystems. While not yet full-service banks, their vast customer bases, extensive data, and technological prowess enable them to offer payment solutions, credit cards (e.g., Apple Card), and lending to their merchant networks, potentially disintermediating traditional banks from customer interactions and revenue streams.

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CNB Financial (CCNE) operates in the community banking sector, offering a range of financial products and services, including commercial banking, retail banking, and wealth management. The company primarily serves communities across Pennsylvania, Ohio, New York, and Virginia.

Addressable Markets for CNB Financial's Main Products and Services:

Community Banking:

• The U.S. community banking market was valued at approximately $6.35 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 3.8%.
• Another estimate places the U.S. community banking market at $17.79 billion in 2024, with an expected increase to $19.39 billion in 2025 at a CAGR of 9.0%.
• Globally, the community banking market size is estimated to be around $16.7 billion in 2024, with North America holding a dominant market position, capturing over 40% share or $6.68 billion in revenue in 2024. This global market is projected to reach approximately $29.07 billion by 2034.

Commercial Banking:

• The U.S. Commercial Banking Market was valued at $231.9 billion in 2024 and is expected to reach $351.8 billion by 2033, growing at a CAGR of 4.10%.
• Another estimate indicates the U.S. Commercial Banking Market size at $226.44 billion in 2024, projected to reach $269.28 billion by 2029 with a CAGR of over 2%.
• Specifically, the Commercial Banking industry in Pennsylvania has a market size of $43.2 billion in 2025 and has been growing at an average annual rate of 7.1% from 2020 to 2025.

Retail Banking:

• The United States Retail Banking Market size was valued at $91.27 billion in 2023 and is expected to reach $125.1 billion by 2033, growing at a CAGR of 3.20%.
• The U.S. retail banking market is forecast to increase by $92.1 billion at a CAGR of 4.2% between 2024 and 2029.

Wealth Management:

• The global wealth management market size was $1.97 trillion in 2024, growing to $2.1 trillion in 2025 at a CAGR of 6.6%. It is expected to reach $2.72 trillion in 2029 at a CAGR of 6.7%.
• Another source indicates the global wealth management market size was $703.38 billion in 2021 and is forecasted to reach $1062.75 billion by 2029, with a CAGR of 4.78% from 2023 to 2030.
• North America dominated the wealth management market in 2020 and is projected to account for a 40% growth during 2025-2029. The wealth management market size in North America is valued to increase by $460.1 billion, at a CAGR of 8.5% from 2024 to 2029.

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Here are 3-5 expected drivers of future revenue growth for CNB Financial (CCNE) over the next 2-3 years:

1. Strategic Acquisitions and Market Expansion: A primary driver of future revenue growth is the strategic acquisition of ESSA Bancorp, Inc., completed in July 2025. This merger is expected to significantly expand CNB Financial's market presence into Eastern Pennsylvania and the Lehigh Valley, adding over $2 billion in total assets, including $1.7 billion in loans and $1.5 billion in deposits. This expansion is anticipated to accelerate growth in these new markets by leveraging CNB's commercial-oriented playbook and broadening its operational footprint.
2. Organic Loan and Deposit Growth: CNB Financial has demonstrated consistent organic growth in its loan and deposit portfolios. The company reported strong total loan growth driven by commercial and residential real estate, especially in expansion markets such as Cleveland, OH, and Roanoke, VA. Furthermore, organic loan growth has been notable in its Ridge View Bank and BankOnBuffalo markets, as well as within its Private Banking division. Deposit growth has also been robust, attributed to successful savings and time deposit strategies and Treasury Management-sourced business deposits, providing a stable funding base for continued lending.
3. Expansion of Fee-Based Business Lines and Specialized Services: CNB Financial is focusing on expanding its fee-based business lines. The company offers trust and wealth management services and has specialized divisions like Impressia Bank, which caters to women's banking needs. Leveraging these areas and expanding its service offerings, including digital transformation initiatives, is expected to contribute to non-interest income and overall revenue growth.

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Share Repurchases

• CNB Financial Corporation's Board of Directors authorized a common stock repurchase plan on May 17, 2022, allowing for the repurchase of up to 500,000 shares, with an aggregate purchase price not exceeding $15 million, initially through May 17, 2023.
• In 2023, the Corporation repurchased 326,459 common shares at a weighted average price of $20.08 per share. The repurchase plan was extended to May 17, 2024, on May 9, 2023, with 173,541 shares remaining for repurchase as of December 31, 2023.
• A new share repurchase program was approved on June 23, 2025, authorizing the repurchase of up to 500,000 shares, with a total purchase price not exceeding $15 million, from June 23, 2025, to June 10, 2026.

Share Issuance

• In September 2022, CNB Financial Corporation completed a common stock offering which resulted in the issuance of over 4.2 million shares, increasing total common shares outstanding by approximately 25%.

Outbound Investments

• On January 10, 2025, CNB Financial Corporation entered into a definitive merger agreement to acquire ESSA Bancorp, Inc. in an all-stock transaction valued at approximately $214 million. This merger was completed on July 23, 2025, expanding CNB Bank's branch network into Northeastern Pennsylvania.
• CNB Financial continued its strategic expansion by forming Ridge View Bank in Roanoke, Virginia. This new venture exceeded $50 million in outstanding loan balances within its first six months of operation in 2021.

Capital Expenditures

• CNB Financial has focused capital expenditures on expanding its physical footprint and modernizing facilities. In October 2023, Ridge View Bank broke ground on its headquarters and a SMART Center in Roanoke, Virginia.
• The headquarters and third SMART Center for Ridge View Bank in Roanoke, Virginia, officially opened in November 2024.
• Plans in 2022 included opening at least one of three planned SMART Center locations, specifically in Salem, Virginia, with others slated for Roanoke, Virginia, and the Smith Mountain Lake area.