Exhibit 99.1

 

Press Release

 

FOR IMMEDIATE RELEASE

 

 

 

 

 

Contact:

Lynda L. Glass

 

 

EVP/Secretary &

 

 

Chief Governance Officer

 

 

717.339.5085

 

 

lglass@acnb.com

 

ACNB CORPORATION

REPORTS 2017 FINANCIAL RESULTS

 

GETTYSBURG, PA, March 9, 2018 —

ACNB Corporation (NASDAQ: ACNB) today announced financial results for the year ended December 31, 2017, including the nonrecurring expenses associated with the acquisition of New Windsor Bancorp, Inc. (New Windsor) of Taneytown, Maryland, and its banking subsidiary, New Windsor State Bank, as well as a one-time tax expense incurred as a result of the Tax Cuts and Jobs Act (the “Tax Act”).

 

The Corporation reported net income of $9,788,000, or $1.50 earnings per share, at December 31, 2017. These amounts compare to net income of $10,869,000, or $1.80 earnings per share, at December 31, 2016.

 

Excluding the nonrecurring expenses incurred as a result of the acquisition and integration of New Windsor, net of the corresponding tax impact at the marginal tax rate, and the one-time charge due to the Tax Act, net income (non-GAAP) at December 31, 2017 would have been $14,498,000, or $2.22 earnings per share (non-GAAP), which represents a 30% increase over the comparable results from December 31, 2016.

 

“On July 1, 2017, ACNB Corporation welcomed the shareholders, customers and employees of New Windsor Bancorp, Inc. and New Windsor State Bank,” said James P. Helt, ACNB Corporation

 

MORE…

 

 


The following information was filed by Acnb Corp (ACNB) on Friday, March 9, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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