Acnb Corp (ACNB) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

Home SEC Filings Acnb Corp (ACNB) 10-Q Quarterly Report Fri Aug 02 2019

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 SECOND QUARTER FINANCIAL RESULTS

 

Highlights

 

·                  Net income for the three months ended June 30, 2019, totaled $6,466,000, which is an increase of $959,000 or 17.4% over comparable period results for the three months ended June 30, 2018.

·                  Net income for the six months ended June 30, 2019, totaled $12,330,000, which is an increase of $1,910,000 or 18.3% over comparable period results for the six months ended June 30, 2018.

·                  As publicly announced on July 2, 2019, geographic expansion efforts are underway for ACNB Corporation through the acquisition of Frederick County Bancorp, Inc., headquartered in Frederick, Maryland, and its wholly-owned subsidiary, Frederick County Bank.

·                  Geographic expansion commenced in Lancaster County, Pennsylvania, with the opening of the Lancaster Loan Office in May 2019.

·                  Net interest income for the six months ended June 30, 2019, totaled $29,635,000.

·                  Total loans outstanding were $1,279,264,000 at June 30, 2019.

·                  Total deposits were $1,377,277,000 at June 30, 2019.

·                  Quarterly cash dividends paid to ACNB Corporation shareholders in the first half of 2019 totaled $3,383,000 or $0.48 per share. It was recently announced the cash dividend declared for the third quarter of 2019 is $0.25 per share for the second consecutive quarter.

 

GETTYSBURG, PA, July 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 June 30, 2019, with net income of $6,466,000. Compared to net income of $5,507,000 for the three months ended June 30, 2018, this is an increase of $959,000 or 17.4% over comparable period results. Basic earnings per share was $0.92 and $0.78 for the three months ended June 30, 2019 and 2018, respectively, which is an increase of $0.14 or 17.9%.

 

The following information was filed by Acnb Corp (ACNB) on Tuesday, July 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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Ticker: ACNB
CIK: 715579
Form Type: 10-Q Quarterly Report
Accession Number: 0001104659-19-043600
Submitted to the SEC: Fri Aug 02 2019 6:25:50 AM EST
Accepted by the SEC: Fri Aug 02 2019
Period: Sunday, June 30, 2019
Industry: State Commercial Banks

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