Exhibit 99.1

 

GRAPHIC

Press Release

 

FOR IMMEDIATE RELEASE

 

 

 

 

 

 

Contact: 

Lynda L. Glass

 

 

EVP/Secretary &

 

 

Chief Governance Officer

 

 

717.339.5085

 

 

lglass@acnb.com

 

ACNB CORPORATION REPORTS RECORD 2018 FINANCIAL RESULTS

WITH 122% INCREASE IN NET INCOME

 

Highlights

 

·                  Expanded market penetration and operations in Maryland with the opening of the Hunt Valley Loan Office in 2018.

·                  Net income for the year and quarter ended December 31, 2018, totaled $21,748,000 and $5,289,000, respectively.  Basic earnings per share for the year and quarter ended December 31, 2018, were $3.09 and $0.75, respectively.

·                  Net interest income for the year and quarter ended December 31, 2018, totaled $57,095,000 and $15,029,000, respectively.

·                  Total loans outstanding were $1,302,465,000 at December 31, 2018.

·                  Total deposits were $1,348,092,000 at December 31, 2018.

·                  Quarterly cash dividends paid to ACNB Corporation shareholders in 2018 totaled $6,261,000, or $0.89 per share—an increase of more than $1,000,000 over 2017.

 

GETTYSBURG, PA, January 30, 2019 —

ACNB Corporation (NASDAQ: ACNB), financial holding company for ACNB Bank and Russell Insurance Group, Inc., announced record financial results for the year ended December 31, 2018, with net income of $21,748,000. Compared to net income of $9,788,000 for the year ended December 31, 2017, this is an increase of $11,960,000, or 122.2%, over prior year-end results. Basic earnings per share were $3.09 and $1.50 for the year ended December 31, 2018 and 2017, respectively, which is an increase of $1.59 per share or 106.0%.

 

The higher net income reported for 2018 was a result of merger-related expenses incurred in 2017, organic net revenue growth in 2018, as well as the additional revenues and cost efficiencies associated with the acquisition of New Windsor Bancorp, Inc. (New Windsor) on July 1, 2017. In addition, net income was

 


The following information was filed by Acnb Corp (ACNB) on Wednesday, January 30, 2019 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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