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Exhibit 99.1
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Press Release | |
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FOR IMMEDIATE RELEASE |
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Contact: |
Lynda L. Glass |
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EVP/Secretary & |
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Chief Governance Officer |
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717.339.5085 |
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lglass@acnb.com |
ACNB CORPORATION
ANNOUNCES 2016 EARNINGS
GETTYSBURG, PA, March 13, 2017 ACNB Corporation reported net income of $10,869,000 for the year ended December 31, 2016, compared to $11,017,000 for the year ended December 31, 2015, a decrease of $148,000 or 1%. Merger related expenses of $472,000 for the proposed purchase of New Windsor Bancorp, Inc. of Taneytown, Maryland, were incurred in 2016 resulting in the decrease in net income. Net income on a per share basis amounted to $1.80 for 2016 and was $1.83 for 2015.
Aggregate quarterly cash dividends paid to ACNB Corporation stockholders in 2016 totaled $4,840,000, or $0.80 per share. In 2015, a total of $4,820,000, or $0.80 per share, was paid to stockholders in the form of quarterly cash dividends.
Total assets of ACNB Corporation at December 31, 2016, were $1.21 billion, up 5% from $1.15 billion at December 31, 2015. Total deposits increased by 6% from the previous year-end to $968 million at December 31, 2016. Total loans rose by 6% to $908 million, as compared to December 31, 2015. A 5% increase in stockholders equity resulted in an aggregate of $120 million at December 31, 2016.
ACNB Corporation, headquartered in Gettysburg, PA, is the financial holding company for the wholly-owned subsidiaries of ACNB Bank, Gettysburg, PA, and Russell Insurance Group, Inc., Westminster, MD. Originally founded in 1857 and now celebrating its 160th Anniversary, ACNB Bank
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Acnb Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2017 10-K Annual Report includes:
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Acnb Corp provided additional information to their SEC Filing as exhibits
Ticker: ACNB
CIK: 715579
Form Type: 10-K Annual Report
Accession Number: 0001047469-17-001613
Submitted to the SEC: Wed Mar 15 2017 2:49:45 PM EST
Accepted by the SEC: Wed Mar 15 2017
Period: Saturday, December 31, 2016
Industry: State Commercial Banks