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ACNB Corporation (NASDAQ: ACNB) is a financial holding company headquartered in Gettysburg, PA. Through its subsidiaries, ACNB Bank and ACNB Insurance Services, Inc., the company provides a wide range of banking, insurance, and financial services to individuals, businesses, and government entities. Originally founded in 1857, ACNB Bank offers traditional banking products such as checking, savings, and money market deposit accounts, as well as commercial and consumer lending products including commercial mortgages, real estate development and construction loans, and personal residential mortgages. ACNB Insurance Services, Inc., a full-service insurance agency operating with licenses in 46 states, provides property, casualty, health, life, and disability insurance solutions.
As of March 31, 2024, ACNB Corporation reported total assets of $2.41 billion, total loans of $1.66 billion, and total deposits of $1.84 billion. The company is dedicated to maintaining strong asset quality, evidenced by a non-performing loan ratio of 0.24% and a tangible common equity to tangible assets ratio of 9.61%. The company's financial performance highlights include a net interest margin of 3.77% and a return on average assets of 1.12% for the first quarter of 2024. ACNB Corporation also declared a quarterly cash dividend of $0.32 per share payable in June 2024, reflecting a 14.2% increase over the previous year.
Recent initiatives by ACNB Corporation include rebranding efforts to unify its subsidiaries under a single brand and strategic moves to enhance its capital base and liquidity. The company continues to focus on executing its strategic plan to remain the independent financial services provider of choice in its markets, delivering value to shareholders, supporting its communities, and meeting customer needs with a comprehensive range of financial products and services.
ACNB (NASDAQ: ACNB) has completed its acquisition of Traditions Bancorp and its subsidiary, Traditions Bank, effective February 1, 2025. The merger creates a stronger community bank with approximately $3.26 billion in assets, $2.54 billion in deposits, and $2.36 billion in loans, serving customers through 35 banking offices across south central Pennsylvania and northern Maryland.
Under the merger terms, Traditions stockholders received 0.7300 shares of ACNB common stock for each Traditions share. Former Traditions Bank branches will operate as 'Traditions Bank, A Division of ACNB Bank', while the mortgage operations will continue as 'Traditions Mortgage, A Division of ACNB Bank'. Three former Traditions directors - Eugene J. Draganosky, Elizabeth F. Carson, and John M. Polli - have joined ACNB's Board of Directors, bringing extensive banking and business expertise.
ACNB (NASDAQ: ACNB) has completed its acquisition of Traditions Bancorp and its subsidiary, Traditions Bank, effective February 1, 2025. The merger creates a stronger financial institution with approximately $3.26 billion in assets, $2.04 billion in deposits, and $2.36 billion in loans, serving customers through 35 community banking offices across south central Pennsylvania and northern Maryland.
Under the terms of the merger, Traditions stockholders received 0.7300 shares of ACNB common stock for each Traditions share, with cash paid for fractional shares. Three former Traditions directors - Eugene J. Draganosky, Elizabeth F. Carson, and John M. Polli - have joined ACNB's Board of Directors. The former Traditions Bank branches will operate as 'Traditions Bank, A Division of ACNB Bank', while mortgage operations will continue as 'Traditions Mortgage, A Division of ACNB Bank'.
ACNB (NASDAQ: ACNB) has announced a quarterly cash dividend of $0.32 per share, payable on March 14, 2025, to shareholders of record as of February 28, 2025. This represents a 6.7% increase from the $0.30 per share paid in Q1 2024.
The total dividend payments are expected to reach approximately $3.38 million in Q1 2025, marking a 24% increase from the previous quarter. This increase is attributed to additional shares that will be issued to former Traditions Bancorp shareholders following the anticipated acquisition closure on February 1, 2025.
ACNB , a $2.4 billion financial holding company, operates through ACNB Bank and ACNB Insurance Services, serving Pennsylvania and Maryland through 27 banking offices and two loan offices.
ACNB reported Q4 2024 net income of $6.6 million ($0.77 per diluted share), showing a 61.0% increase from Q4 2023 but an 8.5% decrease from Q3 2024. Full-year 2024 net income reached $31.8 million ($3.73 per diluted share), up 0.5% from 2023.
Key financial metrics include a return on average assets of 1.31% and return on average equity of 10.94% for 2024. The fully taxable equivalent net interest margin was 3.79%, down from 4.07% in 2023. Total loans outstanding reached $1.68 billion, up 3.4% year-over-year, while deposits totaled $1.79 billion, decreasing 3.7% from 2023.
Financial results were impacted by $2.0 million in merger-related expenses due to the pending acquisition of Traditions Bancorp, expected to close on February 1, 2025. The company also benefited from a $2.8 million reversal of provisions for credit losses and unfunded commitments in 2024.
ACNB (NASDAQ: ACNB) and Traditions Bancorp (OTC Pink: TRBK) announced shareholder approvals for ACNB's proposed acquisition of Traditions. At special meetings held on December 18, 2024, ACNB shareholders approved the issuance of common stock to Traditions shareholders, while Traditions shareholders approved the merger with 99.5% approval from 85.1% of voted shares.
The acquisition, originally announced on July 23, 2024, will merge Traditions with an ACNB subsidiary. The transaction is expected to close on February 1, 2025, subject to customary closing conditions. Both companies' leadership expressed optimism about the merger's potential to enhance innovation and create a stronger community banking presence.
ACNB (NASDAQ: ACNB) has received all required regulatory approvals for its proposed acquisition of Traditions Bancorp (OTC Pink: TRBK). The Federal Deposit Insurance and Pennsylvania Department of Banking and Securities have approved the applications, while the Federal Reserve Bank of Philadelphia granted ACNB a merger application waiver. Both companies' shareholders will vote on the proposed transaction at special meetings scheduled for December 18, 2024. Subject to shareholder approvals and other closing conditions, the transaction is expected to close on February 1, 2025.
ACNB reported Q3 2024 net income of $7.2 million ($0.84 per diluted share), down from $9.0 million ($1.06 per share) in Q3 2023 and $11.3 million ($1.32 per share) in Q2 2024. The quarter's results were impacted by $1.1 million in merger-related expenses due to the pending Traditions Bancorp acquisition. Key metrics include a return on average assets of 1.17%, FTE net interest margin of 3.77%, and non-performing loans ratio of 0.39%. Total loans stood at $1.68 billion, while deposits decreased to $1.79 billion. The Board declared a quarterly dividend of $0.32 per share, representing a 6.7% increase over the same quarter of 2023.
ACNB (NASDAQ: ACNB) has announced a regular quarterly cash dividend of $0.32 per share, payable on December 13, 2024, to shareholders of record as of November 29, 2024. This represents a 6.7% increase from the $0.30 per share paid in Q4 2023. The total dividend payout will be approximately $2.7 million for Q4 2024.
ACNB , a $2.4 billion financial holding company based in Gettysburg, PA, owns ACNB Bank and ACNB Insurance Services, Inc. ACNB Bank, founded in 1857, operates 27 community banking offices and two loan offices across Pennsylvania and Maryland. ACNB Insurance Services, Inc. is licensed in 46 states, offering various insurance products through offices in Maryland and Pennsylvania.
ACNB (NASDAQ: ACNB) reported net income of $11.3 million, or $1.32 diluted earnings per share, for Q2 2024, up from $9.5 million, or $1.12 per share, in Q2 2023. Key highlights include:
- Return on average assets: 1.86%
- Return on average equity: 16.12%
- FTE net interest margin: 3.82%, up from 3.77% in Q1 2024
- Total loans: $1.68 billion, up 6.7% year-over-year
- Non-performing loans ratio: 0.19%, down from 0.24% in Q1 2024
- Total deposits: $1.84 billion
- Loan to deposit ratio: 91.35%
The company's capital levels remain strong, and it declared a quarterly cash dividend of $0.32 per share, a 14.3% increase from the previous year.
ACNB (NASDAQ: ACNB) has announced a strategic acquisition of Traditions Bancorp, Inc. (OTCPink: TRBK) in an all-stock transaction valued at $73.5 million. The merger will create a premier community bank with a strong presence in York and Lancaster counties, Pennsylvania. Key points:
- Traditions shareholders will receive 0.7300 shares of ACNB common stock for each Traditions share.
- Three Traditions Board members will join ACNB's Board, with Eugene Draganosky becoming a Vice Chair.
- The combined entity will have pro forma total assets of $3.3 billion, deposits of $2.6 billion, and gross loans of $2.4 billion.
- The transaction is expected to close in Q1 2025, subject to shareholder and regulatory approvals.
This acquisition aligns with ACNB's strategic plan for profitable growth and expansion in key Pennsylvania markets.
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