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|FOR IMMEDIATE RELEASE|
|Contact: Lynda L. Glass|
|Chief Governance Officer|
ACNB CORPORATION REPORTS RECORD 2019 FINANCIAL RESULTS
WITH 9% INCREASE IN NET INCOME
|·||Net income for the year and quarter ended December 31, 2019, totaled $23,721,000 and $5,081,000, respectively. Basic earnings per share for the year and quarter ended December 31, 2019, were $3.36 and $0.72, respectively.|
|·||Total loans outstanding were $1,272,601,000 at December 31, 2019.|
|·||Total deposits were $1,412,260,000 at December 31, 2019.|
|·||Quarterly cash dividends paid to ACNB Corporation shareholders in 2019 totaled $6,920,000, or $0.98 per share --- an increase of $659,000, or 10.5%, over 2018.|
|·||Expanded market penetration and operations in Lancaster County, PA, with the opening of the Lancaster Loan Office in 2019.|
|·||As publicly announced on January 13, 2020, ACNB Corporation acquired Frederick County Bancorp, Inc. and its wholly-owned subsidiary, Frederick County Bank, headquartered in Frederick, MD, effective January 11, 2020.|
GETTYSBURG, PA, January 28, 2020 --- 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, 2019, with net income of $23,721,000. Compared to net income of $21,748,000 for the year ended December 31, 2018, this is an increase of $1,973,000, or 9.1%, over prior year-end results. Basic earnings per share were $3.36 and $3.09 for the year ended December 31, 2019 and 2018, respectively, which is an increase of $0.27 per share or 8.7%.
The following information was filed by Acnb Corp (ACNB) on Tuesday, January 28, 2020 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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