Welcome to our dedicated page for Acnb news (Ticker: ACNB), a resource for investors and traders seeking the latest updates and insights on Acnb stock.
ACNB Corporation (NASDAQ: ACNB) is a financial holding company headquartered in Gettysburg, Pennsylvania, with operations in commercial banking, wealth management and insurance services. The ACNB news feed on this page aggregates company-issued press releases and other coverage related to its banking subsidiary ACNB Bank, its insurance subsidiary ACNB Insurance Services, Inc., and operating divisions such as Traditions Bank and Traditions Mortgage.
Readers can review quarterly and annual financial results announcements, where ACNB reports metrics such as net income, net interest income, fully taxable equivalent net interest margin, loan and deposit trends, asset quality measures and capital ratios. These releases often explain the impact of acquisitions, loan growth, deposit mix and credit loss provisions on the corporation’s performance.
ACNB’s news flow also includes dividend declarations and capital management updates. The Board of Directors regularly announces quarterly cash dividends on ACNB common stock and has communicated increases in the dividend amount over multiple years. Separate releases describe common stock repurchase programs, including authorizations to repurchase a portion of outstanding shares in open market transactions.
Other news items cover corporate developments such as the completion and integration of the Traditions Bancorp, Inc. acquisition, the operation of Traditions Bank and Traditions Mortgage as divisions of ACNB Bank, and changes to the Board of Directors. These announcements may highlight appointments of new directors and provide background on their professional experience.
For investors, analysts and others following ACNB, this news page offers a centralized view of the corporation’s public communications, from earnings releases and asset quality updates to dividend actions, repurchase plans and governance developments related to its banking and insurance activities.
ACNB Corporation's Board of Directors has declared a quarterly cash dividend of $0.25 per share, payable on March 15, 2021, to shareholders of record as of March 1, 2021. This dividend will total approximately $2.2 million for the first quarter of 2021, consistent with last year's dividend amount. Despite challenges posed by the COVID-19 pandemic, CEO James P. Helt affirmed the company's commitment to sustain this dividend, highlighting the resilience of ACNB's community banking and insurance subsidiaries amidst ongoing uncertainty.
ACNB Corporation reported net income of $7,049,000 for Q4 2020, a 38.7% increase from Q4 2019, with earnings per share rising to $0.81. However, the annual net income dropped to $18,394,000, down 22.5% from 2019, mainly due to $5,965,000 in merger-related expenses and a $9,140,000 increase in loan loss provisions linked to COVID-19 impacts. Total assets grew by $443,425,000 following the Frederick County Bancorp acquisition. Net interest income rose to $73,068,000, up 23%, and total deposits increased by 54.8% to $2,185,525,000.
ACNB Corporation reported a net income of $6,771,000 for Q3 2020, a 7.3% increase from Q3 2019. Basic earnings per share decreased to $0.79. For the nine months ending September 30, 2020, net income was $11,345,000, down 39.1% year-over-year due to merger-related expenses of $5,965,000 and a higher provision for loan losses of $8,100,000. Despite these struggles, total revenues grew by 16.9% to $68,237,000, and total loans increased by 32.0% to $1,700,883,000 due to the acquisition of Frederick County Bancorp.
ACNB Corporation has declared a quarterly cash dividend of $0.25 per share, payable on December 15, 2020, to shareholders of record on December 1, 2020. This dividend results in total payments of approximately $8.7 million for 2020, reflecting a year-over-year increase of about $1.8 million. The company has maintained this dividend amount since June 2019, demonstrating stability despite the challenges posed by the COVID-19 pandemic. ACNB's dividend policy showcases its commitment to shareholder returns and financial resilience.
ACNB Corporation (NASDAQ: ACNB) announced a significant decline in loans under temporary modification due to COVID-19. As of June 30, 2020, 466 loans totaling $234.6 million were modified, representing 13.5% of its portfolio. By August 31, 2020, only 88 loans totaling $86.7 million remained modified, dropping to 5.0%. CEO James P. Helt highlighted the reduced demand for modifications as a sign of the customer base's resilience, noting a lower potential for defaults and losses. The corporation continues to support customers on a case-by-case basis while monitoring the economic landscape.
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ACNB Corporation has reported financial results for the second quarter of 2020, highlighting a net income of $5,797,000, a 10.4% decrease from the same period in 2019. For the first half of 2020, net income totaled $4,574,000, down 62.9% year-over-year, mainly due to merger-related expenses and increased loan loss provisions linked to COVID-19 impacts. The corporation acquired Frederick County Bancorp, adding $443.4 million in assets and $374.1 million in deposits. Net interest income rose 20.8% to $35.8 million, with total loans growing by 35.5%. Dividends paid reached $0.50 per share for the first half.
ACNB Corporation has announced a quarterly cash dividend of $0.25 per share, payable on September 15, 2020, to shareholders of record by August 31, 2020. This totals approximately $2.2 million in dividends for Q3 2020, matching the dividend amount from Q3 2019. Over the first nine months of 2020, total dividends paid will amount to $0.75 per share, aggregating to over $6.5 million, compared to $5.1 million during the same period last year. The Board emphasized its commitment to shareholders during the challenges posed by the COVID-19 pandemic.
ACNB Corporation held its 2020 Annual Meeting virtually on May 5, addressing performance highlights from 2019. The company achieved record earnings of $23.7 million, a 9% increase from 2018, and expanded into Lancaster, PA with a new loan office. Shareholders approved executive compensation and elected new board members during the meeting. The company also announced plans to acquire Frederick County Bancorp, Inc. and received recognition as one of the Top 50 Fastest Growing Companies in central Pennsylvania. The firm emphasized community support amid the ongoing COVID-19 pandemic.
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