ACNB Corp - ACNB STOCK NEWS

ACNB Corporation (NASDAQ: ACNB) reported significant financial growth for Q2 2021, with a net income of $8,508,000, up 46.8% from Q2 2020. Basic earnings per share increased 46.3% to $0.98. Year-to-date net income reached $15,979,000, a surge of 249.3% year-over-year. The rise was fueled by higher fee income and lower loan loss provisions, alongside a 0.3% increase in net interest income. Total deposits rose 7.0% to $2,338,035,000. A special cash dividend of $0.02 per share was declared, marking the first such distribution in over a decade.

ACNB Corporation (NASDAQ: ACNB) declared a quarterly cash dividend of $0.25 per share, totaling approximately $2.2 million, payable on September 15, 2021. The dividend, consistent with the third quarter of 2020, marks the Corporation's 155th consecutive quarterly dividend since 1982. The first nine months of 2021 will see total dividends of $0.75 per share, alongside a special dividend of $0.02 paid on June 15, 2021, leading to over $6.7 million in total payments to shareholders.

ACNB Corporation held its 2021 Annual Meeting of Shareholders virtually on May 4. Despite a challenging year due to COVID-19, the company reported a net income of $18.4 million for 2020, a decrease of 22.5% from the previous year, primarily due to merger expenses and increased loan loss provisions. Shareholders approved key proposals, including director elections and executive compensation. The company remains well-capitalized and committed to community support, having paid $8.7 million in dividends, reflecting a 25.5% increase over 2019.

ACNB Corporation reported substantial financial growth for Q1 2021, with net income skyrocketing to $7,471,000, a 710.9% increase from Q1 2020. Basic earnings per share surged to $0.86, compared to a loss of $(0.14) the previous year. Total revenues rose by 7.5% year-over-year to $23,238,000, despite a slight decline in net interest income, which fell by 0.7% to $17,325,000. Total deposits rose significantly by 25.8% to $2,278,622,000. The company announced a special dividend of $0.02 per share, payable June 15, 2021, alongside a steady quarterly dividend of $0.25.

ACNB Corporation (NASDAQ: ACNB) has declared a regular quarterly cash dividend of $0.25 per share, and for the first time in over a decade, a special cash dividend of $0.02 per share. Both dividends are payable on June 15, 2021, to shareholders of record as of June 1, 2021. This marks the 154th consecutive quarterly dividend issued by the company since its inception in 1982. The total dividends for the first six months of 2021 will be $0.52 per share, a 4% increase from $0.50 during the same period in 2020.

ACNB Corporation (NASDAQ: ACNB) has initiated a stock repurchase plan to buy back up to 261,000 shares, representing about 3% of its outstanding common stock. This decision, endorsed by the Board of Directors, aims to enhance shareholder value. CEO James P. Helt emphasized that the buyback signifies a commitment to investors and seeks to improve the investment potential for shareholders. The buybacks will be executed based on market conditions and available capital, replacing any previous repurchase plans.

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.