ACNB Corp. ( (ACNB) ) has released its Q4 earnings. Here is a breakdown of the information ACNB Corp. presented to its investors.
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ACNB Corporation, headquartered in Gettysburg, Pennsylvania, is a financial holding company that operates through its subsidiaries, ACNB Bank and ACNB Insurance Services, Inc., offering a range of banking and insurance services across its market areas in Pennsylvania and Maryland.
In its latest earnings report for the fourth quarter and full year of 2024, ACNB Corporation announced a net income of $6.6 million for the fourth quarter, showing a notable increase compared to the previous year. The company’s net income for the entire year was $31.8 million, a slight increase from 2023. The financial results were influenced by merger-related expenses connected to the impending acquisition of Traditions Bancorp, Inc.
Key financial metrics included a return on average assets of 1.31% and a return on average equity of 10.94%. The fully taxable equivalent net interest margin declined to 3.79% for the year compared to 4.07% in 2023, primarily due to a higher cost of funds and increased long-term borrowings. Total loans and deposits showed modest growth, while the tangible common equity to tangible assets ratio improved to 10.72% from the previous year.
Looking ahead, ACNB’s management expressed optimism about the strategic acquisition of Traditions Bancorp, Inc., which is expected to enhance the company’s market presence and offer profitable growth opportunities. The focus for 2025 will be on integrating the new acquisition and continuing to deliver value to shareholders.
