Core Viewpoint - ACNB Corporation has received all necessary regulatory approvals for its acquisition of Traditions Bancorp, Inc., with the transaction expected to close on February 1, 2025, pending shareholder approvals [1][2][3]. Group 1: Regulatory Approvals - The Federal Deposit Insurance Corporation and the Pennsylvania Department of Banking and Securities have approved the applications related to the acquisition [2]. - The Federal Reserve Bank of Philadelphia granted ACNB a waiver concerning its merger application requirements [2]. Group 2: Shareholder Meetings - TRBK shareholders will vote on the proposed transaction at a special meeting scheduled for December 18, 2024 [3]. - ACNB shareholders will also vote on the issuance of shares of ACNB common stock in connection with the merger on the same date [3]. Group 3: Company Profiles - ACNB Corporation is a $2.42 billion financial holding company based in Gettysburg, PA, with subsidiaries including ACNB Bank and ACNB Insurance Services, Inc. [4]. - Traditions Bancorp, Inc. is the holding company for Traditions Bank, which has assets of $859 million as of September 30, 2024 [5].

Financial Performance - Net income for Q3 2024 was $7.2 million, a decrease of $1.8 million or 20.3% compared to $9.0 million in Q3 2023[111] - Diluted earnings per share for Q3 2024 were $0.84, down 20.8% from $1.06 in Q3 2023[111] - Net income for the three months ended September 30, 2024 was $7.2 million, a decrease of $1.8 million, or 20.3%, compared to $9.0 million for the same period in 2023[126] - Diluted earnings per share decreased by 20.8% to $0.84 for the three months ended September 30, 2024, down from $1.06 in the prior year[126] - Net income for the nine months ended September 30, 2024, was $25.3 million, a decrease of $2.3 million or 8.5% compared to the prior year[139] - Diluted earnings per share for the nine months ended September 30, 2024, were $2.96, reflecting an 8.4% decrease from $3.23 in the same period of the prior year[139] Interest Income and Expenses - Net interest income for Q3 2024 was $20.9 million, a decrease of $803 thousand or 3.7% from $21.7 million in Q3 2023[112] - The net interest margin decreased to 3.77% for Q3 2024 from 4.01% in Q3 2023, a decrease of 24 basis points[113] - Net interest income totaled $20.9 million for the three months ended September 30, 2024, a decrease of $803 thousand, or 3.7%, from $21.7 million in the same period of 2023[127] - The FTE net interest margin for the three months ended September 30, 2024 was 3.77%, a decrease of 24 basis points from 4.01% for the same period in the prior year[127] - Total interest expense increased by $3.8 million, or 153.1%, during the three months ended September 30, 2024 compared to the same period in the prior year[132] - Total interest income increased by $3.0 million, or 12.3%, during the three months ended September 30, 2024, compared to the same period in 2023[131] - FTE interest income on total loans increased by $2.8 million, or 13.3%, compared to the same period of 2023[131] - Total interest expense increased by $13.1 million, or 288.3%, during the nine months ended September 30, 2024, compared to the same period in the prior year[148] Noninterest Income and Expenses - Noninterest income for Q3 2024 was $6.8 million, an increase of $536 thousand or 8.5% from $6.3 million in Q3 2023[119] - Total noninterest income for the three months ended September 30, 2024, was $6.8 million, an increase of $536 thousand or 8.5% compared to the same period last year[134] - Wealth management income increased by $235 thousand or 24.7% to $1.2 million, driven by portfolio market appreciation and new business generation[135] - Noninterest expenses increased to $18.2 million, or 11.7%, for Q3 2024 compared to $16.3 million in Q3 2023[120] - Noninterest expenses totaled $18.2 million for the three months ended September 30, 2024, representing an 11.7% increase compared to the same period last year[138] - Salaries and employee benefits, the largest component of noninterest expenses, rose by $948 thousand or 9.4% to $11.0 million[140] - Total noninterest income was $18.9 million for the nine months ended September 30, 2024, an increase of $1.5 million, or 8.3%, compared to the same period in 2023[150] - Total noninterest expenses totaled $52.3 million during the nine months ended September 30, 2024, a 6.9% increase compared to the same period of 2023[154] Loans and Credit Quality - Average loans grew by $87.2 million or 5.5% for Q3 2024 compared to the same period in the prior year[115] - Non-performing loans were $6.6 million or 0.39% of total loans at September 30, 2024, up from $3.6 million or 0.22% at September 30, 2023[117] - The allowance for credit losses is based on management's evaluation of the loan portfolio and current risk characteristics[123] - Provisions for credit losses were $81 thousand for the three months ended September 30, 2024, compared to $250 thousand for the same period of the prior year[133] - The allowance for credit losses (ACL) was $17.2 million, or 1.03% of total loans, as of September 30, 2024, down from $20.0 million, or 1.23%, at December 31, 2023[164] - Total loans, net of unearned income, increased by $49.1 million, or 3.0%, from December 31, 2023 to September 30, 2024, driven by growth in the commercial real estate portfolio[161] Deposits and Borrowings - Average interest-bearing deposits decreased by $54.4 million or 3.9% for Q3 2024 compared to Q3 2023[116] - Total deposits decreased by $70.5 million, or 3.8%, to $1.79 billion as of September 30, 2024, primarily due to an outflow of municipal deposits[167] - Time deposits increased by $24.6 million, or 10.6%, due to ongoing deposit promotions during the first nine months of 2024[167] - The loan-to-deposit ratio was 93.62% at September 30, 2024, compared to 87.44% at December 31, 2023[167] - Short-term borrowings decreased by $19.1 million, or 33.6%, to $37.8 million as of September 30, 2024[170] - Long-term borrowings increased to $255.3 million at September 30, 2024, from $195.3 million at December 31, 2023[171] Capital and Equity - Total stockholders' equity rose to $306.8 million at September 30, 2024, compared to $277.5 million at December 31, 2023[172] - The dividend payout ratio for the first nine months of 2024 was 31.64%, up from 25.94% for the same period in 2023[172] - ACNB Corporation issued 16,590 shares under its Dividend Reinvestment and Stock Purchase Plan during the nine months ended September 30, 2024, generating proceeds of $597 thousand, compared to 16,580 shares and $543 thousand in the same period of 2023[173] - As of September 30, 2024, ACNB Corporation repurchased 67,908 shares under its new stock repurchase program, which allows for the repurchase of up to 255,575 shares, approximately 3% of outstanding shares[174] - ACNB Corporation's Tier 1 leverage capital ratio was 12.46% as of September 30, 2024, significantly above the minimum requirement of 4.0%[177] - ACNB Corporation's Common Equity Tier 1 capital ratio was 16.07% as of September 30, 2024, exceeding the minimum requirement of 4.5%[177] - ACNB Corporation's Total capital ratio stood at 18.15% as of September 30, 2024, well above the minimum requirement of 8.0%[177] Securities and Investments - Total investment securities decreased by 6.5% to $483.6 million at September 30, 2024, compared to $517.2 million at December 31, 2023[159] - At September 30, 2024, the securities balance included a net unrealized loss on AFS securities of $36.8 million on an amortized cost of $454.9 million[159] - Securities sold under repurchase agreements totaled approximately $37.8 million as of September 30, 2024, compared to $26.9 million at December 31, 2023[181] Commitments and Liquidity - ACNB's banking subsidiary had a borrowing capacity of approximately $920.1 million from the FHLB as of September 30, 2024, with $684.0 million available[179] - The liquidity management strategy includes monitoring projected cash inflows and outflows daily, ensuring sufficient funding sources for both short- and long-term cash requirements[183] - As of September 30, 2024, ACNB Corporation had unfunded outstanding commitments to extend credit of $363.6 million and outstanding standby letters of credit of $14.4 million[184]

Company Performance - ACNB reported quarterly earnings of $0.84 per share, missing the Zacks Consensus Estimate of $0.88 per share, and down from $1.06 per share a year ago, representing an earnings surprise of -4.55% [1] - The company posted revenues of $27.78 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.95%, but down from $28.04 million year-over-year [1] - Over the last four quarters, ACNB has surpassed consensus EPS estimates just once and topped consensus revenue estimates two times [1] Future Outlook - The immediate price movement of ACNB's stock will depend on management's commentary during the earnings call and the company's earnings outlook [2][3] - The current consensus EPS estimate for the coming quarter is $0.81 on revenues of $26.87 million, and for the current fiscal year, it is $3.30 on revenues of $107.24 million [4] Industry Context - The Banks - Southwest industry, to which ACNB belongs, is currently in the top 18% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [5] - First Foundation, another company in the same industry, is expected to report a quarterly loss of $0.21 per share, reflecting a significant year-over-year decline of -520% [5]

Core Insights - ACNB Corporation reported a net income of $7.2 million, or $0.84 diluted earnings per share, for Q3 2024, a decrease from $9.0 million, or $1.06 per share in Q3 2023, and $11.3 million, or $1.32 per share in Q2 2024, impacted by $1.1 million in merger-related expenses due to the pending acquisition of Traditions Bancorp, Inc. [1][2] Financial Performance - Return on average assets was 1.17% and return on average equity was 9.63% for Q3 2024, with core return on average assets at 1.32% and core return on average equity at 10.81% [2]. - Fully taxable equivalent (FTE) net interest margin was 3.77% for Q3 2024, down from 4.01% in Q3 2023 and 3.82% in Q2 2024 [2][3]. - Noninterest income increased to $6.8 million, an 8.5% rise from Q3 2023, driven by wealth management and insurance commissions [4]. Asset Quality - Total loans outstanding were $1.68 billion at September 30, 2024, a slight decrease of 0.1% from Q2 2024 but an increase of 3.8% from Q3 2023 [7]. - Non-performing loans increased to $6.6 million, or 0.39% of total loans, compared to 0.19% in Q2 2024 and 0.22% in Q3 2023, primarily due to one commercial relationship in the healthcare sector [7][8]. Capital and Equity - Total stockholders' equity rose to $306.8 million at September 30, 2024, compared to $289.3 million at June 30, 2024, and $255.6 million at September 30, 2023 [9]. - Tangible book value per share increased to $29.90 from $27.82 in Q2 2024 and $23.80 in Q3 2023 [9]. Deposits and Borrowings - Total deposits were $1.79 billion, a decrease of 2.6% from Q2 2024 and 8.2% from Q3 2023 [8]. - Total borrowings decreased to $293.1 million, down 3.7% from Q2 2024 but up 91.1% from Q3 2023 [8].

Financial Performance - ACNB Corporation reported net income of $7.2 million, or $0.84 diluted earnings per share, for Q3 2024, down from $9.0 million, or $1.06 per share in Q3 2023[1]. - Net income for Q3 2024 reached $7,204 thousand, compared to $6,768 thousand in Q2 2024, reflecting a growth of 6.43%[21]. - Net Income for Q3 2024 decreased to $7,204,000, down 20.4% from $9,044,000 in Q3 2023[24]. - Basic earnings per share for Q3 2024 were $0.85, compared to $1.06 in Q3 2023, reflecting a decline of 19.8%[24]. - The company reported a core net income of $8,083 thousand for the three months ended September 30, 2024[29]. Income and Expenses - Net interest income for Q3 2024 was $20.9 million, a decrease of $803 thousand, or 3.7%, compared to Q3 2023, driven by a decrease in the fully taxable equivalent net interest margin[6]. - Noninterest income increased by $536 thousand, or 8.5%, to $6.8 million in Q3 2024 compared to Q3 2023, with wealth management income rising to $1.2 million[8]. - Noninterest expense rose to $18.2 million, an increase of $1.9 million, or 11.7%, from Q3 2023, primarily due to merger-related expenses and higher salaries[10]. - Total Noninterest Income increased to $6,833,000 in Q3 2024, up 8.5% from $6,297,000 in Q3 2023[24]. - Total Noninterest Expenses rose to $18,244,000 in Q3 2024, an increase of 11.7% from $16,336,000 in Q3 2023[24]. Asset and Loan Management - Total loans outstanding were $1.68 billion at September 30, 2024, a decrease of $2.5 million, or 0.1%, from June 30, 2024, but an increase of $61.1 million, or 3.8%, from September 30, 2023[12]. - Total loans amounted to $1,681,280,000, with a taxable yield of 5.68% for the quarter ended September 30, 2024, compared to 5.66% in the prior quarter[25]. - Total loans, net of unearned income, stood at $1,677,112 thousand, a marginal increase from $1,664,980 thousand in the previous quarter[21]. - Total loans increased to $1,665,681 thousand as of September 30, 2024, from $1,555,347 thousand in the same period last year, a growth of 7.09%[26]. Equity and Dividends - Total stockholders' equity increased to $306.8 million as of September 30, 2024, up from $289.3 million at June 30, 2024, and $255.6 million at September 30, 2023[17]. - The Board of Directors declared a quarterly cash dividend of $0.32 per share, reflecting a $0.02 increase or 6.7% from the same quarter of 2023[17]. - Cash dividends paid per share rose to $0.32 in Q3 2024 from $0.30 in Q2 2024, marking a 6.67% increase[21]. - The company’s total stockholders' equity reached $306,755,000, an increase from $289,331,000 in the previous quarter[23]. Risk Factors and Forward-Looking Statements - The company faces risks including economic conditions, regulatory changes, and competition that may impact future performance[19]. - Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from projections[20]. - Management considers subsequent events that may require adjustments to financial statements up to the filing date with the SEC[20]. Operational Efficiency - The efficiency ratio improved to 60.56% in Q3 2024 from 66.18% in Q2 2024, indicating enhanced operational efficiency[21]. - Efficiency ratio for the three months ended September 30, 2024, was 60.56%, up from 58.61% in the previous quarter, indicating a decline in operational efficiency[27]. Asset Growth - Total assets as of September 30, 2024, increased to $2,420,914 thousand from $2,414,288 thousand as of March 31, 2024, representing a growth of 0.27%[21]. - Total assets for ACNB Corporation as of September 30, 2024, were $2,440,116,000, showing a slight increase from $2,439,298,000 in the previous quarter[25]. - Total assets increased to $2,436,169 thousand as of September 30, 2024, compared to $2,387,403 thousand in the same period last year, reflecting a growth of 2.04%[26].

GETTYSBURG, Pa., Oct. 16, 2024 (GLOBE NEWSWIRE) -- ACNB Corporation (NASDAQ: ACNB), financial holding company for ACNB Bank and ACNB Insurance Services, Inc., announced today that the Board of Directors approved and declared a regular quarterly cash dividend of $0.32 per share of ACNB Corporation common stock payable on December 13, 2024, to shareholders of record as of November 29, 2024. This per share amount reflects a 6.7% increase over the $0.30 per share paid in the fourth quarter of 2023. This dividen ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number 1-35015 ACNB CORPORATION (Exact name of Registrant as specified in its charter) Pennsylvania 23-2233457 (State or other ...

ACNB (ACNB) came out with quarterly earnings of $1.32 per share, beating the Zacks Consensus Estimate of $0.81 per share. This compares to earnings of $1.12 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 62.96%. A quarter ago, it was expected that this bank would post earnings of $0.80 per share when it actually produced earnings of $0.80, delivering no surprise. Over the last four quarters, the company has surpassed consensu ...

GETTYSBURG, Pa., July 24, 2024 (GLOBE NEWSWIRE) -- ACNB Corporation (NASDAQ:ACNB) ("ACNB" or the "Corporation"), financial holding company for ACNB Bank and ACNB Insurance Services, Inc., announced net income of $11.3 million, or $1.32 diluted earnings per share, for the three months ended June 30, 2024 compared to net income of $9.5 million, or $1.12 diluted earnings per share, for the three months ended June 30, 2023. Compared to the three months ended March 31, 2024, net income and diluted earnings per s ...

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) ACNB Corporation reported strong Q2 2024 net income of **$11.3 million**, driven by a **$3.2 million** provision reversal, with improved asset quality and the first linked-quarter increase in net interest margin and total deposits Q2 2024 Key Financial Results | Metric | Q2 2024 | Q2 2023 | Q1 2024 | | :--- | :--- | :--- | :--- | | Net Income | $11.3 million | $9.5 million | $6.8 million | | Diluted EPS | $1.32 | $1.12 | $0.80 | | Return on Average Assets | 1.86% | 1.62% | 1.12% | | Return on Average Equity | 16.12% | 14.74% | 9.76% | - The quarter's results were significantly impacted by a **$3.2 million** reversal of the provision for credit losses and unfunded commitments[2](index=2&type=chunk) - Total loans grew to **$1.68 billion**, up **0.9%** from Q1 2024 and **6.7%** from Q2 2023[3](index=3&type=chunk) - FTE net interest margin was **3.82%**, marking the first linked-quarter increase after four consecutive quarterly declines, though down from **4.11%** in Q2 2023[3](index=3&type=chunk) - Total deposits increased by **$3.4 million** from the previous quarter to **$1.84 billion**, representing the first linked-quarter increase after nine consecutive quarterly declines[4](index=4&type=chunk) - Asset quality improved, with the non-performing loans to total loans ratio decreasing to **0.19%** from **0.24%** in Q1 2024 and **0.23%** in Q2 2023[4](index=4&type=chunk) [Management Commentary](index=2&type=section&id=Management%20Commentary) Management expressed satisfaction with strong Q2 2024 results, highlighting profitability focus, robust loan demand, excellent asset quality, and improved net interest margin - Management attributes the strong results to a continued focus on profitability and execution of the strategic plan[6](index=6&type=chunk) - Key positive trends highlighted include strong loan demand, stellar asset quality, improved net interest margin, and lower quarter-over-quarter noninterest expenses[6](index=6&type=chunk) - The company is cautiously optimistic for the remainder of 2024, relying on its strong capital, liquidity, and asset quality to deliver value to stakeholders[6](index=6&type=chunk) [Financial Performance Analysis](index=2&type=section&id=Financial%20Performance%20Analysis) Q2 2024 financial performance showed year-over-year net interest income decline due to margin compression, but linked-quarter improvement, with noninterest income growth and controlled expenses [Net Interest Income and Margin](index=2&type=section&id=Net%20Interest%20Income%20and%20Margin) Net interest income was **$21.0 million**, down **4.7%** year-over-year due to margin compression, but increased **1.8%** linked-quarter, with FTE net interest margin at **3.82%** Net Interest Income and Margin Performance | Metric | Q2 2024 | Q2 2023 | Q1 2024 | | :--- | :--- | :--- | :--- | | Net Interest Income | $21.0M | $22.0M | $20.6M | | FTE Net Interest Margin | 3.82% | 4.11% | 3.77% | - The year-over-year decrease in NIM was primarily caused by a **$198.6 million** increase in average borrowings and a **133 basis point** rise in the average rate paid on borrowings[7](index=7&type=chunk) - The linked-quarter increase in NIM was driven by a **16 basis point** increase in the average yield on loans (to **5.53%**) and recognition of nonaccrual interest income from a large relationship payoff[8](index=8&type=chunk)[9](index=9&type=chunk) [Noninterest Income](index=3&type=section&id=Noninterest%20Income) Noninterest income reached **$6.4 million** in Q2 2024, increasing **3.8%** year-over-year and **13.4%** quarter-over-quarter, driven by insurance and wealth management Noninterest Income Breakdown (Q2 2024 vs Q2 2023) | Category | Q2 2024 | Q2 2023 | Change | | :--- | :--- | :--- | :--- | | Total Noninterest Income | $6.4M | $6.2M | +3.8% | | Insurance Commissions | $2.7M | $2.8M | -$93k | | Wealth Management Income | $1.1M | $1.0M | +$90k | | Net (losses) gains on securities | $0 | ($546k) | +$546k | - Compared to Q1 2024, noninterest income increased by **$760 thousand** (**13.4%**), mainly from higher insurance and wealth management income[11](index=11&type=chunk) [Noninterest Expense](index=3&type=section&id=Noninterest%20Expense) Noninterest expense was **$16.4 million**, up **0.7%** year-over-year, but decreased significantly by **7.2%** quarter-over-quarter, primarily due to lower salaries and benefits - Year-over-year, noninterest expense increased by **$110 thousand**, driven by a **$602 thousand** rise in salaries and benefits, offset by reductions in other operating expenses and professional services[12](index=12&type=chunk) - Quarter-over-quarter, noninterest expense fell by **$1.3 million** (**7.2%**), with the largest decrease of **$742 thousand** in salaries and employee benefits[13](index=13&type=chunk) [Balance Sheet Analysis](index=4&type=section&id=Balance%20Sheet%20Analysis) The balance sheet as of June 30, 2024, showed continued loan growth, stable asset quality, a slight linked-quarter deposit increase, and increased borrowings [Loans and Asset Quality](index=4&type=section&id=Loans%20and%20Asset%20Quality) Total loans reached **$1.68 billion**, growing **6.7%** year-over-year, with strong asset quality, a **0.19%** non-performing loan ratio, and a **$3.0 million** provision reversal Loan Portfolio Growth | Date | Total Loans | Change from prior period | | :--- | :--- | :--- | | June 30, 2024 | $1.68 billion | +0.9% (QoQ) / +6.7% (YoY) | | March 31, 2024 | $1.66 billion | - | | June 30, 2023 | $1.57 billion | - | - Loan growth was primarily driven by the commercial real estate portfolio in the company's core markets of Pennsylvania and Maryland[15](index=15&type=chunk) Asset Quality Metrics | Metric | June 30, 2024 | March 31, 2024 | June 30, 2023 | | :--- | :--- | :--- | :--- | | Non-performing loans / Total loans | 0.19% | 0.24% | 0.23% | | Annualized net charge-offs | 0.00% | 0.00% | 0.02% | - A reversal of the provision for credit losses of **$3.0 million** was recorded in Q2 2024, compared to a **$223 thousand** provision in Q1 2024, due to updated CECL model assumptions[16](index=16&type=chunk) [Deposits and Borrowings](index=4&type=section&id=Deposits%20and%20Borrowings) Total deposits were **$1.84 billion**, up **0.2%** linked-quarter but down **6.4%** year-over-year, while total borrowings surged to **$304.3 million**, up **129.3%** Deposit and Borrowing Balances | Metric | June 30, 2024 | March 31, 2024 | June 30, 2023 | | :--- | :--- | :--- | :--- | | Total Deposits | $1.84 billion | $1.84 billion | $1.96 billion | | Total Borrowings | $304.3 million | $272.6 million | $132.7 million | - The ratio of uninsured and non-collateralized deposits to total deposits at ACNB Bank was approximately **18.68%** at June 30, 2024[17](index=17&type=chunk) [Stockholders' Equity, Dividends and Share Repurchases](index=4&type=section&id=Stockholders%27%20Equity%2C%20Dividends%20and%20Share%20Repurchases) Total stockholders' equity increased to **$289.3 million**, with tangible book value per share at **$27.82**, and a quarterly cash dividend of **$0.32** per share declared Stockholders' Equity and Per Share Data | Metric | June 30, 2024 | March 31, 2024 | June 30, 2023 | | :--- | :--- | :--- | :--- | | Total Stockholders' Equity | $289.3M | $279.9M | $257.1M | | Tangible Book Value Per Share | $27.82 | $26.70 | $23.83 | - The Board declared a quarterly cash dividend of **$0.32** per share, a **$0.04** or **14.3%** increase compared to the dividend in Q2 2023[20](index=20&type=chunk) - No shares of ACNB common stock were repurchased during the three months ended June 30, 2024[20](index=20&type=chunk) [Financial Statements and Data](index=7&type=section&id=Financial%20Statements%20and%20Data) This section presents detailed unaudited financial tables, including selected quarterly data, consolidated balance sheets, income statements, and average balances, yields, and rates analysis [Selected Financial Data](index=7&type=section&id=Selected%20Financial%20Data) This section summarizes key balance sheet, income statement, profitability, capital, and credit quality metrics for the five quarters ending June 30, 2024 - This table provides a five-quarter trend analysis of key financial metrics, including assets, loans, deposits, net income, EPS, profitability ratios, and credit quality[26](index=26&type=chunk) [Consolidated Balance Sheet](index=8&type=section&id=Consolidated%20Balance%20Sheet) This section details the company's assets, liabilities, and stockholders' equity as of June 30, 2024, with comparative data for prior periods Key Balance Sheet Items (June 30, 2024) | Item | Amount (in thousands) | | :--- | :--- | | Total Assets | $2,457,753 | | Loans, net | $1,662,438 | | Total Deposits | $1,838,588 | | Total Liabilities | $2,168,422 | | Total Stockholders' Equity | $289,331 | [Consolidated Income Statements](index=9&type=section&id=Consolidated%20Income%20Statements) This section provides a detailed breakdown of revenues and expenses for the three and six months ended June 30, 2024, with comparative 2023 data - This statement details the components of net interest income, noninterest income, and noninterest expenses, leading to the net income calculation for the three and six-month periods ending June 30, 2024 and 2023[31](index=31&type=chunk) [Average Balances, Yields and Rates](index=10&type=section&id=Average%20Balances%2C%20Yields%20and%20Rates) This section analyzes average asset and liability balances, interest income/expense, and average yields/rates on a fully taxable equivalent basis for recent periods - These tables provide a detailed breakdown of the components driving the net interest margin, including average balances and yields on earning assets and costs of interest-bearing liabilities[33](index=33&type=chunk)[36](index=36&type=chunk) [Non-GAAP Reconciliation](index=12&type=section&id=Non-GAAP%20Reconciliation) This section reconciles non-GAAP financial measures, including tangible book value per share, tangible common equity to tangible assets, and the efficiency ratio - The report reconciles GAAP stockholders' equity to tangible common stockholders' equity by excluding goodwill and intangible assets[39](index=39&type=chunk) Key Non-GAAP Metrics (Q2 2024) | Metric | Value | | :--- | :--- | | Tangible book value per share | $27.82 | | Tangible common equity to tangible assets | 9.84% | | Efficiency ratio | 58.69% | [About ACNB Corporation](index=5&type=section&id=About%20ACNB%20Corporation) ACNB Corporation is a **$2.46 billion** financial holding company operating ACNB Bank with **26** offices and ACNB Insurance Services, Inc - ACNB Corporation is the financial holding company for ACNB Bank and ACNB Insurance Services, Inc[21](index=21&type=chunk) - The company has total assets of **$2.46 billion** and serves communities in Pennsylvania and Maryland through a network of **26** banking offices and three loan offices[21](index=21&type=chunk) [Safe Harbor and Forward-Looking Statements](index=5&type=section&id=Safe%20Harbor%20and%20Forward-Looking%20Statements) This section provides a legal disclaimer for forward-looking statements, cautioning that future results are subject to various risks and uncertainties - The press release contains forward-looking statements regarding future performance, which are subject to risks and uncertainties[22](index=22&type=chunk) - Key risks include inflation, banking instability, governmental policies, interest rate changes, and cybersecurity threats[22](index=22&type=chunk)[23](index=23&type=chunk) - The company does not commit to updating forward-looking statements and directs readers to its SEC filings for a more detailed discussion of risk factors[23](index=23&type=chunk)