Acnb Corp Stock Price, News & Analysis

ACNB Corporation reported net income of $8,630,000 for Q2 2022, a 1.43% increase from Q2 2021. Basic EPS rose to $0.99, up from $0.98. Key growth drivers included $1,235,000 in increased net interest income and $955,000 from insurance commissions. However, net income for the first half of 2022 fell 4.69% to $15,229,000, primarily due to reduced residential mortgage loan sales. Total loans decreased 3.08% year-over-year, while deposits grew 1.10%. The company plans to open a new banking office in October 2022 and continue strategic insurance acquisitions.

ACNB Corporation (NASDAQ: ACNB) has declared a quarterly cash dividend of $0.26 per share, payable on September 15, 2022, to shareholders of record as of September 1, 2022. This dividend reflects a 4.0% increase compared to $0.25 paid in Q3 2021, resulting in aggregate payments of approximately $2.2 million for this quarter. In total, ACNB will have paid $0.78 in dividends per share for the first nine months of 2022, amounting to over $6.7 million to shareholders. This increase highlights the company’s strong financial performance.

ACNB Corporation (NASDAQ: ACNB) has appointed Jason H. Weber as the Executive Vice President/Treasurer & Chief Financial Officer effective June 1, 2022. Weber succeeds David W. Cathell, who retired after 15 years in the position. Weber, who has a background in finance and corporate development, joined ACNB in January 2022 as Executive Vice President/Finance. His experience is seen as crucial for executing the company's strategic growth plans. ACNB Corporation, a $2.7 billion financial holding company, focuses on banking and insurance services across several regions.

ACNB Corporation held its 2022 Annual Meeting of Shareholders on May 3, 2022, emphasizing its focus on growth and maintaining strong relationships despite a challenging business environment. In 2021, the company achieved record net income of $27.8 million, reflecting a 51% increase from the previous year, driven by higher fee income and lower loan loss provisions. Shareholders elected new Class 1 Directors and approved executive compensation proposals. ACNB continues to prioritize maximizing shareholder value while navigating the impacts of the pandemic and market uncertainties.

ACNB Corporation reported a net income of $6,599,000 for Q1 2022, a decrease of 11.7% from Q1 2021. Basic earnings per share fell to $0.76, down from $0.86. The drop was attributed to a $1,000,000 decrease in residential mortgage loan sales and $775,000 from lower PPP income. However, total deposits increased by 5.8% year-over-year, reaching $2,410,761,000. Cash dividends rose 4.0% year-over-year to $0.26 per share. Looking ahead, ACNB remains optimistic about loan growth and capitalizing on higher yields from recent investments.

ACNB Corporation (NASDAQ: ACNB) announced a quarterly cash dividend of $0.26 per share, a 4.0% increase from $0.25 in Q2 2021. This dividend, totaling approximately $2.3 million, will be paid on June 15, 2022, to shareholders of record as of June 1, 2022. The Board's decision reflects ACNB's commitment to shareholder value and its long-standing history of rewarding shareholders.

ACNB Corporation (NASDAQ: ACNB) has successfully acquired the assets of Hockley & O’Donnell Insurance Agency, LLC, effective February 28, 2022. This acquisition, executed by ACNB Insurance Services, Inc., aims to bolster ACNB's position in the Adams County market. CEO James P. Helt noted that this move is expected to enhance revenue and synergies across banking and insurance services. The acquisition is projected to increase gross premium dollars by approximately 30%. ACNB's strategic growth efforts continue to focus on expanding its market presence and delivering value to shareholders.

ACNB Corporation (NASDAQ: ACNB) has announced its acquisition of the business and assets of Hockley & O’Donnell Insurance Agency LLC, a prominent agency in Gettysburg, PA. This strategic move is expected to enhance ACNB's growth strategy for its insurance and banking subsidiaries. The acquisition anticipates a 30% increase in gross premium dollars, aiming to boost future earnings. ACNB's CEO emphasized the value this brings to shareholders, positioning the corporation as a leading financial service provider in its market.

ACNB Corporation reported record net income of $27,834,000 for the year ended December 31, 2021, reflecting a 51.3% increase from 2020, driven by higher fee income and reduced loan loss provisions. Basic earnings per share rose to $3.19. However, Q4 2021 net income decreased by 36.2% to $4,495,000 due to lower net interest income and one-time expenses. Total loans decreased by 10.3% to $1,468,427,000, while total deposits increased by 11.0% to $2,426,389,000. Cash dividends rose by 3.0% year-over-year to $1.03 per share.