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)

GETTYSBURG, Pa., July 24, 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 September 13, 2024, to shareholders of record as of August 30, 2024. This per share amount reflects a 14.3% increase over the $0.28 per share paid in the third quarter of 2023. This dividend ...

ACNB (ACNB) shares rallied 5.9% in the last trading session to close at $41.36. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 24.4% gain over the past four weeks.Shares of ACNB rallied for the seventh straight trading session. Encouraging inflation numbers and cooling employment data have increased the chances of the Federal Reserve cutting the interest rates as early as during the September FOMC meeting. A ...

GETTYSBURG, Pa., May 09, 2024 (GLOBE NEWSWIRE) -- ACNB Corporation (NASDAQ:ACNB) is pleased to announce the election of Alexandra Chiaruttini to its Boards of Directors, effective at the Annual Meeting of Shareholders on May 7, 2024. Ms. Chiaruttini was also appointed to serve on the Board of Directors of ACNB Corporation's banking subsidiary, ACNB Bank. "We are very excited to welcome Alexandra to the Board of Directors," stated ACNB Corporation Chairman of the Board, Alan Stock. "Her insight and expertise ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Title of each classTrading Symbol Name of each exchange on which registered 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 March 31, 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 Re ...

GETTYSBURG, Pa., April 25, 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 $6.8 million, or $0.80 per diluted earnings per share, for the three months ended March 31, 2024 compared to net income of $9.0 million, or $1.06 per diluted earnings per share, for the three months ended March 31, 2023. Compared to the three months ended December 31, 2023, net income and diluted e ...