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ACNB Corporation Holds 2022 Annual Meeting Of Shareholders
GETTYSBURG, Pa., May 05, 2022 (GLOBE NEWSWIRE) -- The 2022 Annual Meeting of Shareholders of ACNB Corporation (NASDAQ: ACNB) was held on Tuesday, May 3, in a
About this update from Acnb Corporation
[{"type":"text","content":"GETTYSBURG, Pa., May 05, 2022 (GLOBE NEWSWIRE) -- The 2022 Annual Meeting of Shareholders of ACNB Corporation (NASDAQ: ACNB) was held on Tuesday, May 3, in a virtual meeting format. ACNB Corporation is the financial holding company for the wholly-owned subsidiaries of ACNB Bank, Gettysburg, PA, and ACNB Insurance Services, Inc., Westminster, MD. “At ACNB Corporation, our vision is to be the independent financial services provider of choice in the core markets served by building relationships and finding solutions. We remain focused on this vision as we enter 2022 and look to a post-pandemic environment for growth. After responding to the initial impacts of COVID-19 in 2020, we managed towards the future in 2021 despite the challenges of the business environment. The result was record earnings for the year of 2021,” said James P. Helt, ACNB Corporation President & Chief Executive Officer, during his presentation at the meeting. “In spite of the continued low interest rate environment and excessive liquidity in the marketplace that negatively impacted our net interest income and net interest margin for the year, net income for the year ended December 31, 2021, totaled $27.8 million or $3.19 per common share. In comparison to 2020, this was an increase of $9.4 million or 51%. The primary drivers to this significant increase in net income were higher fee income from the banking business line activity and a reduction in loan loss provision for the year, as well as one-time merger expenses related to the acquisition of Frederick County Bancorp, Inc. in 2020,” he continued. In speaking about the banking subsidiary, which traces its founding to 1857, Mr. Helt said, “ACNB Bank remains a strong, well-capitalized, full-service financial institution that has provided stability to our customers, our communities, and our shareholders for over 165 years. The organization celebrated its 165th anniversary on April 11 of this year. We believe that a strong community bank should support the communities we serve, and ACNB Bank has a long and proud history of serving our communities.” Mr. Helt ended the presentation saying, “In conclusion, ACNB Corporation remains well capitalized and positioned to continue our growth trends to the benefit of our customers, employees, shareholders and communities. Asset quality remains strong as we continue to work ...