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Acnb Corp (ACNB) SEC Filing 10-Q Quarterly Report for the period ending Friday, September 30, 2022

Acnb Corp

HISTORY TOOLS
CIK: 715579 Ticker: ACNB
Exhibit 99.1
acnb_corpxverticalxlogoxcm.jpg
PRESS RELEASE

FOR IMMEDIATE RELEASE
Contact:
Jason H. Weber
EVP/Treasurer &
Chief Financial Officer
717.339.5090
jweber@acnb.com

ACNB CORPORATION REPORTS
2022 THIRD QUARTER AND YEAR-TO-DATE FINANCIAL RESULTS

2022 Third Quarter and Year-To-Date Highlights


•Net income for the three months ended September 30, 2022 totaled $10,324,000, an increase of $2,964,000, or 40.27%, from comparable period results in 2021. Basic earnings per share was $1.20 and $0.84 for the three months ended September 30, 2022 and 2021, respectivel
y. The increase in net income for the third quarter of 2022 was primarily driven by increases in net interest income of $4,520,000 and commissions from insurance sales of $714,000.

•Net income for the nine months ended September 30, 2022 totaled $25,553,000, an increase of $2,214,000, or 9.49%, from comparable period results in 2021. Basic earnings per share was $2.95 and $2.67 for the nine months ended September 30, 2022 and 2021, respectively. The higher net income for the nine months ended September 30, 2022 was primarily driven by increases in net interest income of $5,483,000 and commissions from insurance sales of $1,486,000.

•The net interest margin for the three months ended September 30, 2022 was 3.59%, an increase of 84 basis points from 2.75% for the comparable period in 2021. Paycheck Protection Program (PPP) fees and purchase accounting accretion for the three months ended September 30, 2022 totaled $853,000, compared to $1,722,000 for the same period in 2021. The 2022 year-to-date net interest margin was 3.13%, an increase of 23 basis points from 2.90% for the comparable nine-month period in 2021. Year-to-date, PPP fees and purchase accounting accretion totaled $2,803,000, compared to $6,665,000 for the same period in 2021.

•Total loans outstanding were $1,527,128,000 at September 30, 2022 compared to $1,486,886,000 at September 30, 2021, an increase of 2.71%. Year-over-year, the increase was driven by growth in the commercial loan portfolio. Loans increased by $58,701,000, or 4.00%, from December 31, 2021 to September 30, 2022, also mainly from growth in the commercial loan portfolio. Excluding payoffs for PPP loans, loans grew by 5.20% from December 31, 2021 to September 30, 2022.

The following information was filed by Acnb Corp (ACNB) on Thursday, October 27, 2022 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Acnb Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Changes In Stockholders' Equity (Unaudited)
Consolidated Statements Of Changes In Stockholders' Equity (Unaudited) (Parenthetical)
Consolidated Statements Of Comprehensive Income (Unaudited)
Consolidated Statements Of Comprehensive Income (Unaudited) (Parenthetical)
Consolidated Statements Of Condition (Unaudited)
Consolidated Statements Of Condition (Unaudited) (Parenthetical)
Consolidated Statements Of Income (Unaudited)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Details)
Accumulated Other Comprehensive Loss (Tables)
Basis Of Presentation And Nature Of Operations
Basis Of Presentation And Nature Of Operations (Details)
Borrowings
Borrowings (Details)
Borrowings (Tables)
Earnings Per Share And Restricted Stock
Earnings Per Share And Restricted Stock (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Schedule Of Additional Quantitative Information (Details)
Fair Value Measurements - Schedule Of Carrying Amount, Fair Value And Placement In Fair Value Hierarchy (Details)
Fair Value Measurements - Schedule Of Fair Value Measurements (Details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Details)
Goodwill And Other Intangible Assets (Tables)
Guarantees
Guarantees (Details)
Loans
Loans (Tables)
Loans - Narrative (Details)
Loans - Schedule Of Allowance For Loan Losses And Recorded Investment In Financing Receivables (Details)
Loans - Schedule Of Change In Accretable Yields Of Acquired Loans (Details)
Loans - Schedule Of Classes Of The Loan Portfolio Summarized By The Aggregate Risk Rating (Details)
Loans - Schedule Of Loan Portfolio Summarized By The Past Due Status (Details)
Loans - Schedule Of Nonaccrual Loans By Classes Of The Loan Portfolio (Details)
Loans - Summary Of Average Of Impaired Loans And Related Interest Income By Loan Portfolio Class (Details)
Loans - Summary Of Impaired Loans By Loan Portfolio Class (Details)
New Accounting Pronouncements
New Accounting Pronouncements (Policies)
Retirement Benefits
Retirement Benefits (Details)
Retirement Benefits (Tables)
Securities
Securities (Tables)
Securities - Narrative (Details)
Securities - Schedule Of Amortized Cost And Fair Value By Contractual Maturity (Details)
Securities - Schedule Of Amortized Cost And Fair Value Of Securities (Details)
Securities - Schedule Of Required Fair Value Disclosures For Equity Securities (Details)
Securities - Schedule Of Unrealized Losses And Fair Value (Details)
Securities Sold Under Agreements To Repurchase (Repurchase Agreements)
Securities Sold Under Agreements To Repurchase (Repurchase Agreements) (Details)
Securities Sold Under Agreements To Repurchase (Repurchase Agreements) (Tables)
Segment Reporting
Segment Reporting (Details)
Segment Reporting (Tables)
Ticker: ACNB
CIK: 715579
Form Type: 10-Q Quarterly Report
Accession Number: 0000715579-22-000099
Submitted to the SEC: Fri Nov 04 2022 9:00:01 AM EST
Accepted by the SEC: Fri Nov 04 2022
Period: Friday, September 30, 2022
Industry: State Commercial Banks

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