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

Acnb Corp

CIK: 715579 Ticker: ACNB

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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Inside Acnb Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Changes In Stockholders' Equity (Unaudited)
Consolidated Statements Of Changes In Stockholders' Equity (Unaudited) (Parenthetical)
Consolidated Statements Of Comprehensive Income (Unaudited)
Consolidated Statements Of Comprehensive Income (Unaudited) (Parenthetical)
Consolidated Statements Of Condition (Unaudited)
Consolidated Statements Of Condition (Unaudited) (Parenthetical)
Consolidated Statements Of Income (Unaudited)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Details)
Accumulated Other Comprehensive Loss (Tables)
Basis Of Presentation And Nature Of Operations
Basis Of Presentation And Nature Of Operations (Details)
Borrowings
Borrowings (Details)
Borrowings (Tables)
Earnings Per Share And Restricted Stock
Earnings Per Share And Restricted Stock (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Schedule Of Additional Quantitative Information (Details)
Fair Value Measurements - Schedule Of Carrying Amount, Fair Value And Placement In Fair Value Hierarchy (Details)
Fair Value Measurements - Schedule Of Fair Value Measurements (Details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Details)
Goodwill And Other Intangible Assets (Tables)
Guarantees
Guarantees (Details)
Loans
Loans (Tables)
Loans - Narrative (Details)
Loans - Schedule Of Allowance For Loan Losses And Recorded Investment In Financing Receivables (Details)
Loans - Schedule Of Change In Accretable Yields Of Acquired Loans (Details)
Loans - Schedule Of Classes Of The Loan Portfolio Summarized By The Aggregate Risk Rating (Details)
Loans - Schedule Of Loan Portfolio Summarized By The Past Due Status (Details)
Loans - Schedule Of Nonaccrual Loans By Classes Of The Loan Portfolio (Details)
Loans - Summary Of Average Of Impaired Loans And Related Interest Income By Loan Portfolio Class (Details)
Loans - Summary Of Impaired Loans By Loan Portfolio Class (Details)
New Accounting Pronouncements
New Accounting Pronouncements (Policies)
Retirement Benefits
Retirement Benefits (Details)
Retirement Benefits (Tables)
Revenue Recognition
Revenue Recognition (Details)
Securities
Securities (Tables)
Securities - Narrative (Details)
Securities - Schedule Of Amortized Cost And Fair Value By Contractual Maturity (Details)
Securities - Schedule Of Amortized Cost And Fair Value Of Securities (Details)
Securities - Schedule Of Required Fair Value Disclosures For Equity Securities (Details)
Securities - Schedule Of Unrealized Losses And Fair Value (Details)
Securities Sold Under Agreements To Repurchase (Repurchase Agreements)
Securities Sold Under Agreements To Repurchase (Repurchase Agreements) (Details)
Securities Sold Under Agreements To Repurchase (Repurchase Agreements) (Tables)
Segment Reporting
Segment Reporting (Details)
Segment Reporting (Tables)
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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