• Like a mini-KeyCorp, providing banking, lending, and wealth management services to businesses and individuals in its specific regional markets.
• A community-focused PNC Bank for its markets in Pennsylvania, Ohio, New York, and Virginia, offering a full range of personal and business financial services.

• Deposit Accounts: The company offers various types of deposit accounts, including checking, savings, and time deposits, for individuals, businesses, and institutions.
• Lending Services: CNB Financial provides a wide range of loans, such as real estate, commercial, industrial, residential, consumer, small balance unsecured, and secured loans.
• Wealth and Asset Management: This service includes the administration of trusts, estates, retirement plans, employee benefit plans, and general wealth management for clients.
• Insurance and Annuities: The company sells nonproprietary annuities and various other insurance products to its customers.

CNB Financial (CCNE) primarily sells its banking products and services to a broad base of customers rather than a few major companies. Based on the company description, its customer base can be categorized as follows:

1. Individual Customers: This includes individuals seeking checking, savings, and time deposit accounts, residential and consumer loans, wealth management services, and other personal financial products.
2. Business Customers: This encompasses commercial and industrial clients, ranging from small businesses to larger enterprises, seeking various types of loans (commercial, industrial, equipment), deposit accounts, and employee benefit plan administration.
3. Governmental and Institutional Customers: This category includes government entities and other institutions that utilize CNB Bank for their banking, deposit, and specialized financial service needs.

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 possesses over 35 years of experience in banking and financial services, having previously served as Senior Executive Vice President and Chief Financial Officer of another Pennsylvania community bank. He is a Certified Public Accountant (CPA) licensed in Pennsylvania and is a member of both the American Institute of Certified Public Accountants (AICPA) and the Pennsylvania Institute of Certified Public Accountants (PICPA).

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

Mr. Lima serves as the Senior Executive Vice President, Chief Financial Officer, and Treasurer for CNB Financial Corporation.

Richard L. Greslick, Jr.
Senior Executive Vice President, Chief Operating Officer

Mr. Greslick joined CNB Bank permanently after graduating college in 1998 and completed the Bank's Management Training program in April 1999. He has held various positions within the bank, including Finance Assistant/Purchasing Manager and Banking Officer/Controller. He holds a Bachelor of Science in Accounting from Indiana University of Pennsylvania.

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

Ms. Kassab began her career at CNB Bank in 1996 as a Marketing Assistant. Over the years, she has held diverse roles, including Executive Vice President of Client Experience, before transitioning to her current position in 2021. From 2013 to 2015, she also served as Senior Risk Officer for CNB Financial Corporation's Enterprise Risk Management (ERM) program. Ms. Kassab earned a Bachelor of Science in Marketing from Indiana University of Pennsylvania.

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

Mr. Griffith joined CNB Bank in 2016 and has been appointed as Senior Executive Vice President and Chief Revenue Officer for CNB Bank. He previously held roles as the founding President of the BankOnBuffalo division and Chief Banking Officer. Mr. Griffith has been instrumental in the commercial loan growth success of CNB Bank.

Key Risks to CNB Financial (CCNE)

1. Integration Risk from ESSA Bancorp Acquisition: CNB Financial faces significant risks related to the integration of ESSA Bancorp, Inc., acquired in July 2025. This acquisition has led to immediate impacts on financial statements, including integration costs that drove down GAAP earnings in Q3 2025 and an increase in nonperforming assets. Managing this integration, especially within a challenging interest rate environment, is a core challenge that has affected capital metrics and created a short-term drag on earnings. The acquisition is described as a "transformative" event that could materially impact CNB's earnings profile, cost structure, and market footprint, with execution risk on the merger identified as a major concern.
2. Interest Rate Volatility and Margin Compression: As a financial institution, CNB Financial is susceptible to broader banking sector risks, particularly margin compression due to interest rate volatility. The net profit margin has already experienced a notable dip, with a contraction to 18.8% in Q3 2025 from 22.6% in the prior year. Changes in interest rates can adversely affect the company's financial position and results of operations. Economic conditions and interest rate volatility are consistently highlighted as key risks for the company.
3. Credit Risk and Loan Quality Deterioration: CNB Financial faces inherent credit risks associated with its lending activities, including the potential for loan quality deterioration. There is an ongoing need to monitor nonperforming assets and evaluate exposure to specific industries within its commercial real estate portfolio, such as office, hospitality, and multifamily properties. An economic recession in the markets served could lead to decreased loan demand and an increased number of borrowers defaulting on their loans, which would negatively impact the company's business, financial condition, and results of operations.

Clear Emerging Threats to CNB Financial (CCNE):

• Disruption from Digital-First Banks and Fintech Platforms: The rise of challenger banks (neobanks) and various fintech companies that offer core banking services entirely through digital channels (mobile apps, web platforms) poses a significant threat. These platforms often provide checking, savings, lending (consumer, mortgage, small business), and payment services with potentially lower fees, higher interest rates on deposits, faster processing times, and superior digital user experiences compared to traditional brick-and-mortar banks like CNB. This directly threatens CNB's ability to attract and retain customers for deposits and loans, especially among younger and digitally native demographics.
• Competition from Automated and Online Wealth Management Services: The proliferation of robo-advisors and other digital wealth management platforms offers automated, lower-cost investment, retirement planning, and financial advisory services. These technology-driven solutions compete directly with CNB's traditional wealth and asset management services, including the administration of trusts, estates, and retirement plans, by providing accessible alternatives that may appeal to clients seeking lower fees, passive investment strategies, or convenient digital access to financial guidance.

For CNB Financial (symbol: CCNE), the addressable markets for their main products and services in their operating regions are as follows:

Banking Services

• Deposits:
• Ohio: Approximately $100.83 billion (Total Deposits for FDIC-insured institutions, 2024)
• Pennsylvania: null
• New York: null
• Virginia: null

Lending Services

• null

Wealth and Asset Management Services

• null

Insurance Products

• Pennsylvania:
• Total Direct Written Premium: Approximately $46.89 billion (All Lines of Business, 2024)
• Health Premium: Approximately $60.27 billion (2024)
• Ohio:
• Property & Casualty (P&C) Premiums: $23.4 billion (2023)
• New York:
• Property and Casualty (P&C) Insurance Premiums: $45.2 billion (2022)
• Life Insurance Premiums: More than $281 billion (from supervised companies, 2023)
• Accident and Health Insurance Premiums: $62.4 billion (from regulated insurers, 2023)
• Virginia:
• Accident and Health Insurance Market: Approximately $42.11 billion (2024)

Expected Drivers of Future Revenue Growth for CNB Financial (CCNE)

1. Strategic Acquisitions and Market Expansion: A significant driver of revenue growth is the completed acquisition of ESSA Bancorp, Inc., on July 23, 2025. This transformative acquisition substantially increased CNB Financial's total assets, loan portfolio, and deposit base, while expanding its geographic footprint into Northeastern Pennsylvania and the Lehigh Valley. This expansion is anticipated to yield continued revenue growth through an enlarged market presence and operational efficiencies.
2. Growth in Net Interest Income (NII) and Net Interest Margin (NIM): CNB Financial projects sustained revenue growth through the expansion of its Net Interest Income and Net Interest Margin. This growth is expected to be propelled by continued strong commercial loan growth and demand, coupled with favorable earning asset yields and diligent management of interest-bearing liabilities.
3. Organic Deposit Growth: The company places a strong emphasis on fostering organic deposit growth, particularly in non-interest-bearing deposits. This focus on attracting retail accounts and cultivating treasury/municipal relationships is crucial for strengthening its funding base, thereby improving profitability and enabling further loan expansion.
4. Expansion and Performance of Specialized Banking Divisions: Leveraging its multi-brand operating model, which encompasses divisions such as FCBank, BankOnBuffalo, Ridge View Bank, Private Banking, and Impressia Bank, CNB Financial aims for ongoing organic growth. This strategy involves catering to distinct client needs and strategically extending the reach of these specialized divisions, including through an enhanced online presence for certain offerings like Impressia Bank.