Acnb Corp (ACNB) SEC Filing 10-Q Quarterly report for the period ending Saturday, March 31, 2018

Exhibit 99.1

 

Press Release

 

FOR IMMEDIATE RELEASE

 

	Contact:	Lynda L. Glass
		EVP/Secretary &
		Chief Governance Officer
		717.339.5085
		lglass@acnb.com

 

ACNB CORPORATION REPORTS

2018 FIRST QUARTER FINANCIAL RESULTS

 

GETTYSBURG, PA, April 26, 2018 -—

ACNB Corporation (NASDAQ: ACNB) today announced financial results for the three months ended March 31, 2018, with net income of $4,913,000. Compared to net income of $2,637,000 for the quarter ended March 31, 2017, this is an increase of $2,276,000 or 86% over comparable period results. Basic earnings per share was $0.70 and $0.43 for the three months ended March 31, 2018 and 2017, respectively, which is an increase of 63%.

 

“ACNB Corporation’s bottom line results for the first quarter of 2018 were strong and exhibit the success of the organization’s strategic initiatives-—including the contribution to earnings from the 2017 acquisition of New Windsor Bancorp, Inc. and the expansion of banking operations into the northern Maryland market,” said James P. Helt, ACNB Corporation President & CEO. “Our commitment to the markets we serve is a reflection of the dedication and hard work of many in our organization.”

 

“Solid banking and insurance operations, as well as tax reform, have produced both current and future benefits for ACNB Corporation.  Accordingly, as previously announced, the Board of Directors declared a 15% increase in the quarterly dividend amount from $0.20 to $0.23 per share for payment on June 15, 2018,” Mr. Helt continued. “This is a significant commitment to ACNB Corporation shareholders and continues our long history of rewarding shareholders for their investment in our future.”

 

Revenues

 

Total revenues for the first quarter of 2018 were $18,967,000, or a 39% increase over total revenues