Exhibit 99.1

 

Press Release

 

 

FOR IMMEDIATE RELEASE

Contact: Lynda L. Glass

 

717.339.5085

 

ACNB CORPORATION

ANNOUNCES 2009 EARNINGS

 

GETTYSBURG, PA, March 5—ACNB Corporation reported net income of $7,219,000 for the year ended December 31, 2009, compared to $6,744,000 for the year ended December 31, 2008, an increase of $475,000 or 7%.  Net income on a per share basis amounted to $1.22 for 2009 and $1.13 for 2008.  A significant component of the Corporation’s net income is net interest income, which rose 11% to $32,252,000 for the year ended December 31, 2009, in comparison to $29,024,000 for the year ended December 31, 2008.

 

Commenting on these year-end earnings results, ACNB Corporation President & Chief Executive Officer Thomas A. Ritter said, “While the year of 2009 presented many difficulties to the financial services industry, we are very proud of our employees for remaining focused and determined.  Our 2009 earnings increased by 7% compared to 2008, and we were able to grow the key balance sheet components of loans, deposits and stockholders’ equity.  Every quarter was profitable in 2009, which enabled ACNB Corporation to maintain our strong history of cash dividend payments to our stockholders.”

 

Aggregate quarterly cash dividends paid to ACNB Corporation stockholders in 2009 totaled $4,512,000, or $0.76 per share.  This is the same per share amount that was paid in 2008 and 2007.

 

Total assets of ACNB Corporation on December 31, 2009, were $962 million—a decrease of 2% from December 31, 2008.  Total deposits increased by 6% over the previous year to $729 million.

 

MORE…

 


The following information was filed by Acnb Corp (ACNB) on Friday, March 5, 2010 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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