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

2019 FIRST QUARTER FINANCIAL RESULTS

 

Highlights

 

·                  Geographic expansion is planned for Pennsylvania with the opening of the Lancaster Loan Office in May 2019.

·                  Net income for the quarter ended March 31, 2019, totaled $5,864,000, with basic earnings per share of $0.83.

·                  Net interest income for the quarter ended March 31, 2019, totaled $14,665,000.

·                  Total loans outstanding were $1,301,335,000 at March 31, 2019.

·                  Total deposits were $1,367,058,000 at March 31, 2019.

·                  Quarterly cash dividends paid to ACNB Corporation shareholders in the first quarter of 2019 totaled $1,621,000 or $0.23 per share. It was recently announced the cash dividend declared for the second quarter of 2019 is increased to $0.25 per share.

 

GETTYSBURG, PA, April 30, 2019 — ACNB Corporation (NASDAQ: ACNB), financial holding company for ACNB Bank and Russell Insurance Group, Inc., announced financial results for the three months ended March 31, 2019, with net income of $5,864,000. Compared to net income of $4,913,000 for the quarter ended March 31, 2018, this is an increase of $951,000 or 19.4% over comparable period results. Basic earnings per share was $0.83 and $0.70 for the three months ended March 31, 2019 and 2018, respectively, which is an increase of $0.13 or 18.6%.

 

“ACNB Corporation’s strong earnings performance for the first quarter of 2019 was primarily the result of higher net interest income over the same period a year ago due to solid loan growth in late 2018,” said James P. Helt, ACNB Corporation President & CEO. “In working with commercial loan customers,

 


The following information was filed by Acnb Corp (ACNB) on Tuesday, April 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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