ACNB Corporation Reports 2024 Third Quarter Financial Results

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$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$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$293.1 million, down 3.7% from Q2 2024 but up 91.1% from Q3 2023 [8].