<SEC-DOCUMENT>0001193125-25-075120.txt : 20250408
<SEC-HEADER>0001193125-25-075120.hdr.sgml : 20250408
<ACCEPTANCE-DATETIME>20250408081447
ACCESSION NUMBER:		0001193125-25-075120
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250408
DATE AS OF CHANGE:		20250408

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CNB FINANCIAL CORP/PA
		CENTRAL INDEX KEY:			0000736772
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		ORGANIZATION NAME:           	02 Finance
		EIN:				251450605
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39472
		FILM NUMBER:		25820351

	BUSINESS ADDRESS:	
		STREET 1:		1 SOUTH SECOND STREET
		STREET 2:		P.O. BOX 42
		CITY:			CLEARFIELD
		STATE:			PA
		ZIP:			16830
		BUSINESS PHONE:		8147659621

	MAIL ADDRESS:	
		STREET 1:		1 SOUTH SECOND STREET
		STREET 2:		P.O. BOX 42
		CITY:			CLEARFIELD
		STATE:			PA
		ZIP:			16830
</SEC-HEADER>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 14A
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Proxy Statement Pursuant To Section&nbsp;14(a) of the </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>(Amendment No.&#8195;) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by the
Registrant&#8194;&#9746; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by a Party other than the Registrant&#8194;&#9744; </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Preliminary proxy statement </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Confidential, for use of the Commission Only (as permitted by Rule
<FONT STYLE="white-space:nowrap">14a-6(e)(2))</FONT></B><B>&nbsp;</B> </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Definitive proxy statement </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9746;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Definitive additional materials </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Soliciting material pursuant to &#167; <FONT STYLE="white-space:nowrap">240.14a-12</FONT>
</P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:22pt; font-family:Times New Roman" ALIGN="center"><B>CNB Financial Corporation </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Registrant as Specified In Its Charter) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Person(s) Filing Proxy Statement, if other than the Registrant) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Payment of Filing Fee (Check all boxes that apply): </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9746;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">No fee required. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Fee paid previously with preliminary materials. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules
<FONT STYLE="white-space:nowrap">14a-6(i)(1)</FONT> and <FONT STYLE="white-space:nowrap">0-11.</FONT></P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>News Release </I></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Contact:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tito L. Lima</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Treasurer</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(814) <FONT STYLE="white-space:nowrap">765-9621</FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">FOR
IMMEDIATE RELEASE</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CNB Financial Corporation Announces that ISS Recommends Shareholders Support the Proposal to Issue Common
Stock in connection with the Merger with ESSA Bancorp, Inc., the Proposal to Approve the 2025 Omnibus Incentive Plan and the Say-on-Pay Proposal </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CLEARFIELD, Pa., April&nbsp;8, 2025 &#150; CNB Financial Corporation (&#147;CNB&#148;) (NASDAQ: CCNE)&nbsp;is pleased to announce that leading independent
proxy advisory firm Institutional Shareholder Services Inc (&#147;ISS&#148;) is recommending that CNB shareholders vote &#147;FOR&#148; each of (1)&nbsp;the proposal to issue shares of CNB common stock in connection with the merger of ESSA Bancorp,
Inc. (&#147;ESSA&#148;) with and into CNB; (2)&nbsp;the proposal to approve the CNB Financial Corporation 2025 Omnibus Incentive Plan; and (3)&nbsp;the <FONT STYLE="white-space:nowrap">non-binding&nbsp;advisory</FONT> resolution to approve the
compensation of CNB&#146;s named executive officers in advance of the upcoming CNB Annual Meeting of Shareholders (the &#147;Annual Meeting&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The
Annual Meeting will be held at 2:00 p.m., Eastern Time, on Tuesday, April&nbsp;15, 2025. Shareholders of record as of February&nbsp;18, 2025 will be able to attend the Annual Meeting, vote, and submit questions during the Annual Meeting via live
webcast by visiting<I>&nbsp;web.viewproxy.com/CNBFinancial/2025</I>. CNB&#146;s joint proxy statement/prospectus for the Annual Meeting is available at<I>&nbsp;web.viewproxy.com/CNBFinancial/2025</I>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Whether or not shareholders plan to attend the Annual Meeting, CNB encourages shareholders to read the joint proxy statement/prospectus and submit their proxy
or voting instructions as soon as possible. Information regarding how to vote or revoke previously submitted proxies is available in the joint proxy statement/prospectus referenced above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If CNB shareholders have any questions or need assistance with voting, they are encouraged to contact CNB&#146;s proxy solicitor, Alliance Advisors: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Alliance Advisors, LLC </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">200
Broadacres Drive, 3rd Floor </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Bloomfield, NJ 07003 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(833) 215-7302 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CCNE@AllianceAdvisors.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About CNB Financial
Corporation </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CNB Financial Corporation is a financial holding company with consolidated assets of approximately $6.2&nbsp;billion. CNB Financial
Corporation conducts business primarily through its principal subsidiary, CNB Bank. CNB Bank is a full-service bank engaging in a full range of banking activities and services, including trust and wealth management services, for individual,
business, governmental, and institutional customers. CNB Bank operations include a private banking division, one loan production office, one <FONT STYLE="white-space:nowrap">drive-up</FONT> office, one mobile office, and 56 full-service offices in
Pennsylvania, Ohio, New York, and Virginia. CNB Bank, headquartered in Clearfield, Pennsylvania, with offices in Central and North Central Pennsylvania, serves as the multi-brand parent to various divisions. These divisions include ERIEBANK, based
in Erie, Pennsylvania, with offices in Northwest Pennsylvania and Northeast Ohio; FCBank, based in Worthington, Ohio, with offices in Central Ohio; BankOnBuffalo, based in Buffalo, New York, with offices in Western New York; Ridge View Bank, based
in Roanoke, Virginia, with offices in the Southwest Virginia region; and Impressia Bank, a division focused on banking opportunities for women, which operates in CNB Bank&#146;s primary market areas. Additional information about CNB Financial
Corporation may be found at www.CNBBank.bank. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This communication contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements
about CNB and its industry involve substantial risks and uncertainties. Statements other than statements of current or historical fact, including statements regarding CNB&#146;s future financial condition, results of operations, business plans,
liquidity, cash flows, projected costs, and the impact of any laws or regulations applicable to CNB, are forward-looking statements. Words such as &#147;anticipates,&#148; &#147;believes,&#148; &#147;estimates,&#148; &#147;expects,&#148;
&#147;forecasts,&#148; &#147;intends,&#148; &#147;plans,&#148; &#147;projects,&#148; &#147;may,&#148; &#147;will,&#148; &#147;should&#148; and other similar expressions are intended to identify these forward-looking statements. Such statements are
subject to factors that could cause actual results to differ materially from anticipated results. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Among the risks and uncertainties that could cause
actual results to differ from those described in the forward-looking statements include, but are not limited to the following: (i)&nbsp;the ability to complete the proposed merger with ESSA on the proposed terms or on the anticipated timeline, or at
all, including the risk that governmental approvals of the merger may not be obtained, or adverse regulatory conditions may be imposed in connection with governmental approvals of the merger and risks and uncertainties related to securing the
necessary shareholder approvals and satisfaction of other closing conditions to consummate the proposed merger; (ii)&nbsp;the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement
relating to the proposed merger; (iii)&nbsp;risks related to diverting the attention of management from ongoing business operations; (iv)&nbsp;failure to realize the expected benefits of the proposed merger; (v)&nbsp;significant transaction costs
and/or unknown or inestimable liabilities; (vi)&nbsp;the risk of shareholder litigation in connection with the proposed merger, including resulting expense or delay; (vii)&nbsp;the risk that ESSA&#146;s business will not be integrated successfully
or that such integration may be more difficult, time-consuming or costly than expected; (viii)&nbsp;risks related to future opportunities and plans for the combined company, including the uncertainty of expected future financial performance and
results of the combined company following completion of the proposed merger; (ix)&nbsp;the effect of the announcement of the proposed merger on the ability of CNB to operate its business and retain and hire key personnel and to maintain favorable
business relationships; (x)&nbsp;risks related to the market value of the CNB common stock to be issued in the proposed merger; (xi)&nbsp;other risks related to the completion of the proposed merger and actions related thereto; (xii)&nbsp;the
dilution caused by CNB&#146;s issuance of additional shares of its capital stock in connection with the proposed merger; (xiii)&nbsp;national, international, regional and local economic and political climates and conditions; (xiv)&nbsp;changes in
general economic conditions, including changes in market interest rates and changes in monetary and fiscal policies of the federal government; and (xv)&nbsp;legislative and regulatory changes. Further information about these and other relevant risks
and uncertainties may be found in CNB&#146;s Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the fiscal year ended December&nbsp;31, 2024 and in subsequent filings CNB makes with the Securities and Exchange Commission
(&#147;SEC&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Forward-looking statements speak only as of the date they are made. CNB does not undertake, and specifically disclaims any obligation,
to publicly release the result of any revisions which may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. You are cautioned not to place
undue reliance on these forward-looking statements. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Additional Information and Where to Find It </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with the proposed merger, CNB filed with the SEC a registration statement on Form <FONT STYLE="white-space:nowrap">S-4,</FONT> as amended (File <FONT
STYLE="white-space:nowrap">No.&nbsp;333-285096),</FONT> that includes a document that serves as a prospectus of CNB and a joint proxy statement of CNB and ESSA (the &#147;joint proxy statement/prospectus&#148;). CNB and ESSA also plan to file other
relevant documents with the SEC regarding the proposed merger. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT ON FORM <FONT STYLE="white-space:nowrap">S-4,</FONT> THE JOINT PROXY STATEMENT/PROSPECTUS INCLUDED WITHIN THE
REGISTRATION STATEMENT ON FORM <FONT STYLE="white-space:nowrap">S-4,</FONT> AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL
CONTAIN IMPORTANT INFORMATION ABOUT CNB, ESSA AND THE PROPOSED MERGER. You may obtain a free copy of the registration statement, including the joint proxy statement/prospectus and other relevant documents filed by CNB and ESSA with the SEC, without
charge, at the SEC&#146;s website at <I>www.sec.gov</I>. Copies of the documents filed by CNB with the SEC are available free of charge on CNB&#146;s website at <I>www.cnbbank.bank</I> or by directing a request to CNB Financial Corporation, 1 South
Second Street, PO Box 42, Clearfield, PA, attention: Treasurer, telephone (814) <FONT STYLE="white-space:nowrap">765-9621.</FONT> </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>No Offer </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities. No offering of securities shall be made except
by means of a prospectus meeting the requirements of Section&nbsp;10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Participants in the Solicitation </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CNB and its directors
and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed merger. You can find information about CNB&#146;s executive officers and directors in the
joint proxy statement/prospectus. Additional information regarding the interests of such potential participants are included in the joint proxy statement/prospectus and other relevant documents filed with the SEC when they become available. You may
obtain free copies of these documents from CNB using the sources indicated above. </P>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
