ACNB Corporation Announces Common Stock Repurchase Program

Rhea-AI Summary

ACNB Corporation (NASDAQ: ACNB), a $3.27 billion financial holding company, has announced a new stock repurchase program authorizing the buyback of up to 314,000 shares, representing approximately 3.0% of its outstanding common stock. The repurchases will be executed through open market transactions at prevailing market prices, with timing and volume determined by management based on factors including capital position, liquidity, financial performance, and market conditions. The program will be funded using available capital and replaces all previous repurchase plans. ACNB, founded in 1857, operates through its subsidiaries ACNB Bank and ACNB Insurance Services, serving Pennsylvania and Maryland through 33 banking offices and providing banking, wealth management, and insurance services.

Positive

• Authorization to repurchase 314,000 shares (3.0% of outstanding stock) demonstrates confidence in company's financial position
• Strong financial position with $3.27 billion in assets
• Extensive network of 33 community banking offices across Pennsylvania and Maryland
• Diversified revenue streams through banking, wealth management, and insurance services

Negative

• Repurchase timing and volume are uncertain and dependent on market conditions
• Program may reduce available capital for other strategic opportunities
• Implementation subject to various economic and regulatory risks

Insights

Financial Analyst

ACNB's 3% share repurchase program signals management confidence and may provide modest EPS support with minimal capital impact.

ACNB Corporation has announced a share repurchase program targeting up to 314,000 shares, representing approximately 3% of outstanding common stock. This modest buyback indicates management's confidence in the bank's financial position and potentially signals their belief that shares represent good value at current trading levels.

At $3.27 billion in assets, ACNB is a mid-sized regional financial institution with a diverse revenue stream from banking, wealth management, trust services, and insurance operations across 33 community banking offices. The repurchase program provides flexibility without firm commitments, as management will determine timing and volume based on capital position, liquidity, performance, and market conditions.

From a capital management perspective, this buyback represents a balanced approach. The 3% target is significant enough to potentially support earnings per share through a reduced share count, yet conservative enough to preserve capital strength. The bank has indicated the repurchases will be funded from available capital, suggesting comfortable capital ratios above regulatory requirements.

For shareholders, buybacks typically represent a positive signal, particularly when combined with dividend payments, as they suggest management views the stock as undervalued while demonstrating commitment to returning capital. The program replaces previous repurchase plans, indicating a refreshed capital management strategy rather than an entirely new initiative.

While the repurchase program provides potential modest support to share value, investors should note the program contains no guarantees regarding actual execution volume or timing, with implementation dependent on various market and financial factors.

GETTYSBURG, Pa., June 18, 2025 (GLOBE NEWSWIRE) -- ACNB Corporation (“ACNB”) (NASDAQ: ACNB), financial holding company for ACNB Bank and ACNB Insurance Services, Inc., announced today that the Board of Directors approved a new plan to repurchase, in open market transactions at prevailing market prices, up to 314,000, or approximately 3.0%, of the outstanding shares of ACNB’s common stock. The amount and timing of any shares repurchased will be evaluated and determined by management in its discretion and will depend upon a number of factors, including ACNB’s capital position, liquidity, financial performance and alternate uses of capital, the market price of ACNB’s securities, general market and economic conditions, and applicable legal and regulatory requirements, with no guarantee as to the exact number of shares that will be repurchased. The common stock repurchases are expected to be funded by using available capital. Further, this new common stock repurchase program replaces and supersedes any and all earlier announced repurchase plans.

ACNB Corporation, headquartered in Gettysburg, PA, is the independent $3.27 billion financial holding company for the wholly-owned subsidiaries of ACNB Bank, Gettysburg, PA, including its operating divisions Traditions Bank and Traditions Mortgage, and ACNB Insurance Services, Inc., Westminster, MD. Originally founded in 1857, ACNB Bank serves its marketplace with banking and wealth management services, including trust and retail brokerage, via a network of 33 community banking offices and one loan offices located in the Pennsylvania counties of Adams, Cumberland, Franklin, Lancaster and York and the Maryland counties of Baltimore, Carroll and Frederick. ACNB Insurance Services, Inc. is a full-service insurance agency with licenses in 46 states. The agency offers a broad range of property, casualty, health, life and disability insurance serving personal and commercial clients through office locations in Westminster, MD, and Gettysburg, PA. For more information regarding ACNB Corporation and its subsidiaries, please visit investor.acnb.com.

FORWARD-LOOKING STATEMENTS - In addition to historical information, this press release may contain forward-looking statements. Examples of forward-looking statements include, but are not limited to, (a) projections or statements regarding future earnings, expenses, net interest income, other income, earnings or loss per share, asset mix and quality, growth prospects, capital structure, and other financial terms, (b) statements of plans and objectives of Management or the Board of Directors, and (c) statements of assumptions, such as economic conditions in the Corporation’s market areas. Such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “intends”, “will”, “should”, “anticipates”, or the negative of any of the foregoing or other variations thereon or comparable terminology, or by discussion of strategy. Forward-looking statements are subject to certain risks and uncertainties such as national, regional and local economic conditions, competitive factors, and regulatory limitations. Actual results may differ materially from those projected in the forward-looking statements. Such risks, uncertainties, and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the following: short-term and long-term effects of inflation and rising costs on the Corporation, customers and economy; effects of governmental and fiscal policies, as well as legislative and regulatory changes; effects of new laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) and their application with which the Corporation and its subsidiaries must comply; impacts of the capital and liquidity requirements of the Basel III standards; effects of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Financial Accounting Standards Board and other accounting standard setters; ineffectiveness of the business strategy due to changes in current or future market conditions; future actions or inactions of the United States government, including the effects of short-term and long-term federal budget and tax negotiations and a failure to increase the government debt limit or a prolonged shutdown of the federal government; effects of economic conditions particularly with regard to the negative impact of any pandemic, epidemic or health-related crisis and the responses thereto on the operations of the Corporation and current customers, specifically the effect of the economy on loan customers’ ability to repay loans; effects of competition, and of changes in laws and regulations on competition, including industry consolidation and development of competing financial products and services; inflation, securities market and monetary fluctuations; risks of changes in interest rates on the level and composition of deposits, loan demand, and the values of loan collateral, securities, and interest rate protection agreements, as well as interest rate risks; difficulties in acquisitions and integrating and operating acquired business operations, including information technology difficulties; challenges in establishing and maintaining operations in new markets; effects of technology changes; effects of general economic conditions and more specifically in the Corporation’s market areas; failure of assumptions underlying the establishment of reserves for loan losses and estimations of values of collateral and various financial assets and liabilities; acts of war or terrorism or geopolitical instability; disruption of credit and equity markets; ability to manage current levels of impaired assets; loss of certain key officers; ability to maintain the value and image of the Corporation’s brand and protect the Corporation’s intellectual property rights; continued relationships with major customers; and, potential impacts to the Corporation from continually evolving cybersecurity and other technological risks and attacks, including additional costs, reputational damage, regulatory penalties, and financial losses. We caution readers not to place undue reliance on these forward-looking statements. They only reflect Management’s analysis as of this date. The Corporation does not revise or update these forward-looking statements to reflect events or changed circumstances. Please carefully review the risk factors described in other documents the Corporation files from time to time with the SEC, including the Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Please also carefully review any Current Reports on Form 8-K filed by the Corporation with the SEC.

ACNB #2025-11
June 18, 2025

Contact:	Kevin J. Hayes
	SVP/General Counsel,
	Secretary & Chief
	Governance Officer
	717.339.5161
	khayes@acnb.com

FAQ

What is the size of ACNB Corporation's new stock buyback program?

ACNB Corporation's new stock buyback program authorizes the repurchase of up to 314,000 shares, representing approximately 3.0% of its outstanding common stock.

How will ACNB Corporation fund the stock repurchase program?

The stock repurchase program will be funded using ACNB Corporation's available capital.

What factors will determine the timing of ACNB's stock repurchases?

The timing will be determined by management based on capital position, liquidity, financial performance, market prices, economic conditions, and regulatory requirements.

What is ACNB Corporation's current asset size?

ACNB Corporation is a financial holding company with $3.27 billion in assets.

How many banking offices does ACNB operate?

ACNB operates through a network of 33 community banking offices across Pennsylvania and Maryland counties.