Acnb Corporation · NASDAQ:ACNB
Acnb — Shareholder Meeting (May 2025)
43 slides from Acnb's shareholder meeting presentation, May 8, 2025
Slide 1: ACNB Corporation Annual Meeting of Shareholders May 6, 2025
ACNB Corporation Annual Meeting of Shareholders May 6, 2025
Slide 2: Welcome & Introductions
Welcome & Introductions Alan J. Stock Chairman of the Board 2
Slide 3: Board of Directors
Board of Directors James P. Helt Scott L. Kelley James J. Lott Donna M. Newell Daniel W. PottsJohn M. Polli D. Arthur Seibel, Jr. Alan J. Stock Chairman of the Board Todd L. Herring First Vice Chair of the Board Eugene J. Draganosky Second Vice Chair of the Board Elizabeth F. Carson Kimberly S. Chan
Slide 4: James P. Helt President & CEO
James P. Helt President & CEO 4
Slide 5: Executive Management Team
Executive Management Team James P. Helt President & Chief Executive Officer Mark E. Blacksten EVP/Maryland Market President Brett D. Fulk EVP/Chief Strategy Officer Laurie A. Laub EVP/Chief Credit Officer Douglas A. Seibel EVP/Chief Lending Officer Thomas J. Sposito II President, Traditions Bank, A
Slide 6: Business Unit Subsidiary and Executive Officers
Business Unit Subsidiary and Executive Officers Mark P. Bernier SVP/Wealth Management Officer Mark A. Westcott President & Chief Executive Officer Teresa L. Gregory President, Traditions Mortgage, A Division of ACNB Bank 6
Slide 7: Legal and Accounting Advisors
Legal and Accounting Advisors Managing Partner Erik Gerhard, Esquire Craig Humphrey Bybel Rutledge LLP: Crowe LLP: 7
Slide 8: Meeting Agenda
Meeting Agenda • Call to Order, Quorum & Business Matters • Management Presentations • Shareholder Questions & Answers • Voting Results from Judge of Election • Adjournment 8
Slide 9: Rules of Conduct and Procedures
Rules of Conduct and Procedures In the interest of an orderly Annual Meeting of Shareholders for ACNB Corporation, please honor the following basic Rules of Conduct and Procedures. • Shareholders should not address the Meeting until recognized by the Chairman of the Meeting. Upon recognition by the
Slide 10: Forward-Looking Statements
During the course of this presentation, there may be projections and forward-looking statements regarding events or the future financial performance of ACNB Corporation. We wish to caution you that these forward-looking statements involve certain risks and uncertainties, including a variety of facto
Slide 11: Call to Order, Quorum & Business Matters
Call to Order, Quorum & Business Matters 11
Slide 12: Management Presentations
Management Presentations James P. Helt President & CEO Jason H. Weber EVP/Treasurer & Chief Financial Officer 12
Slide 13: Executive Summary
Executive Summary Bank Established: 1857 Headquarters: Gettysburg, PA Market Capitalization¹: $432 Million Total Assets¹: $3.3 Billion Gross Loans¹: $2.3 Billion Deposits¹: $2.5 Billion 1. Source: April 24, 2025 ACNB Corporation Press Release for 2025 1st Quarter financial results. 2. Source: Piper
Slide 14: Market Overview
Market Overview • ACNB Bank is ranked #1 in the Adams County market, with deposit market share of 59.53%¹. • ACNB Bank has the #1 deposit market share in 7 out of 13 defined market areas in Pennsylvania². • The addition of Traditions Bank enhanced our presence in York County making us the 2nd larges
Slide 15: Successful Track Record of Growth Through Acquisitions
Successful Track Record of Growth Through Acquisitions Historical Asset Growth “a Evolution of Geographic Footprint) @ Assets (Excl. Acquired) [ Assets Acquired FCB A. Ss d, Frepenick DERI Closed February 2025 f =I Closed January 2020 $28 \sos| 1 5 a S26 6 $2: | < Ne or $24 s24 | 2 Me ANCON. ig $0.
Slide 16: Deposit Portfolio
Deposit Portfolio 64% 36% 66% 34% 66% 34% 68% 32% 68% 32% 49% 23% 28% 1 1. Source: April 24, 2025 ACNB Corporation Press Release for 2025 1st Quarter financial results. Source: ACNB Public filings and Internal Sources unless otherwise noted. 16
Slide 17: Loan Portfolio
Loan Portfolio 63% 37% 62% 38% 64% 36% 65% 35% 66% 34% 46% 24% 30% 1. Source: April 24, 2025 ACNB Corporation Press Release for 2025 1st Quarter financial results. Source: ACNB Public filings and Internal Sources unless otherwise noted. 1 17 42% Growth
Slide 18: Overview of 2024 Results
Overview of 2024 Results Financial Summary • Strong operating results in 2024. • Year-over-year increase in non- interest income due to securities repositioning loss in 2023; Wealth had strong results. • Higher expenses year-over-year driven by increases in salaries and benefits and merger-related e
Slide 19: Balance Sheet Trends
Balance Sheet Trends 1. Compounded Annual Growth Rate (CAGR). 2. Non-GAAP financial measure. Refer to the calculation on page 42 titled “Reconciliation of Non-GAAP Measures” at the end of this presentation. Total Assets ($MMs) Total Loans ($MMs)CAGR¹ (’20 - ’24): 0.68% Total Deposits ($MMs)CAGR¹ (’2
Slide 20: Performance Over Time
Performance Over Time Source: ACNB Public filings and Internal Sources.1. Non-FTE. 2. Excludes Merger-related expenses, net of income taxes, of $4.6mm and $1.6mm for 2020 and 2024, respectively (non-GAAP). 3. Non-GAAP financial measure. Refer to the calculation on page 42 titled “Reconciliation of N
Slide 21: Diversified Loan Portfolio
Diversified Loan Portfolio • ACNB asset quality measures continue to reflect commitment to sound credit risk management, including conservative disciplined underwriting practices, timely credit administration processes, and proactive customer relationship management. • Independent loan review perfor
Slide 22: Prudent Reserve Discipline
Prudent Reserve Discipline ACL Overview Source: ACNB Public filings and Internal Sources. • ACNB actively monitors its loan portfolio to maintain strong asset quality. • On January 1, 2023, the Corporation adopted Topic 326, universally referred to as CECL; Day one impact resulted in $1.6 million in
Slide 23: Deposit Portfolio
Deposit Portfolio • Due to funding levels, ACNB continued to restrain deposit rates despite an increase in market interest rates and increases in rates by competitors. • ACNB continues to have a strong core deposit base, with core deposits¹ making up 97.7% of total deposits. • Non-Interest Bearing D
Slide 24: Strong Capital Position
Strong Capital Position Commentary Source: ACNB Public filings and Internal Sources. Capital Ratios¹ • Capital ratios exceed regulatory and internal minimum requirements. • Quarterly cash dividend increased to $0.32 per share, or 6.7%, in the 2nd quarter of 2024. • In October of 2022, the Board of D
Slide 25: Balance Sheet Liquidity
Commentary Source: ACNB Public filings and Internal Sources. Financial Data as of 12/31/2024. Balance Sheet Liquidity • Actively monitoring and projecting liquidity needs to minimize our liquidity risk; Liquidity monitored daily. • On-balance sheet liquidity primarily comprised of unencumbered secur
Slide 26: Dividend Analysis 2017 to Present
$0.80 $0.89 $0.98 $1.00 $1.03 $1.06 $1.14 $1.26 $- $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 2017 2018 2019 2020 2021 2022 2023 2024 To ta l D iv id en d Dividend Analysis 2017 to Present Source: ACNB Public filings and Internal Sources. Cash Dividend in 2017 was $0.80 compared to $1.26 in 2024 26
Slide 27: Total Shareholder Return: 3-Year
Total Shareholder Return: 3-Year • ACNB outperformed the bank and broader market indices and its peer group over the last 3 years ... Source: S&P Capital IQ Pro; Data from 12/31/2021 to 12/31/2024 Note: See peer group at the end of this presentation 27
Slide 28: Total Shareholder Return: 5-Year
Total Shareholder Return: 5-Year ...and outperformed its peer group over the past 5 years. Source: S&P Capital IQ Pro; Data from 12/31/2019 to 12/31/2024 Note: See peer group at the end of this presentation 28
Slide 29: 2025 First Quarter Financial Highlights
Net Income = Diluted EPS = Tangible Book Value Per Share1 = Return on Average Assets = Return on Average Equity = FTE Net Interest Margin = Non-Performing Assets to Total Assets = Allowance for Credit Losses to Totals Loans = 2025 First Quarter Financial Highlights Source: April 24,
Slide 30: Analyst Coverage of ACNB Corporation
Analyst Coverage of ACNB Corporation 30
Slide 31: Wealth Management
Wealth Management At Year-End in Thousands of Dollars 1. Securities and certain insurance products are offered through Cetera Investment Services, LLC, a registered broker-dealer and FINRA member, and advisory services are offered through Cetera Investment Advisers, LLC. Neither firm is affiliated w
Slide 32: ACNB Insurance Services, Inc.
ACNB Insurance Services, Inc. At Year-End in Thousands of Dollars Source: ACNB Public filings and Internal Sources • ACNB Insurance Services, Inc. is a full-service insurance agency, with licenses in 46 states, offering a broad range of property, casualty, health, life and disability insurance to bo
Slide 33: At the Heart of Community Life...Team ACNB!
• Nearly 150 employees volunteered their time in 2024, contributing a total of 710 activities, 2,544 volunteer service hours and supporting 108 community organizations. • 62% of employees pledged $41,860 to local United Way organizations. • Employees raised $1,210 through two Casual for a Cause acti
Slide 34: Committed to our Local Communities
Committed to our Local Communities • The Bank contributed $193,746 to 190+ community organizations: • $111,362 in Southcentral PA • $82,384 in Central MD • Employees participated in 96 Bank-sponsored community events. • Customers and employees donated 1,867 school supplies, cake kits and non-perisha
Slide 35: Accolades
Accolades || Business JourNaL ~ Frederick magazine an Getty bug’ Greatest C\/innet, United Way , United Way of Adams County, Inc. 35
Slide 36: Community at Heart
Community at Heart Our Vision To be the independent financial services provider of choice in the communities served by building relationships and finding solutions. 36
Slide 37: Shareholder Questions & Answers
Shareholder Questions & Answers 37
Slide 38: Voting Results from Judge of Election
Voting Results from Judge of Election 38
Slide 39: Thank You & Meeting Adjournment
Thank You & Meeting Adjournment Stock Symbol: ACNB (Nasdaq) www.acnb.com 39
Slide 40: ACNB Peers
ACNB Peers Arrow Financial Corporation First Bank BCB Bancorp, Inc. Capital Bancorp, Inc. Ponce Financial Group, Inc. Citizens Financial Services, Inc. LINKBANCORP, Inc. Chemung Financial Corporation Unity Bancorp, Inc. Citizens & Northern Corporation Fidelity D & D Bancorp, Inc. Orange County Banco
Slide 41: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Note: The Corporation has presented the following non-GAAP financial measures because it believes that these measures provide useful and comparative information to assess trends in the Corporation’s results of operations and financial condition. These non-GAAP fin
Slide 42: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Source: ACNB Public filings and Internal Sources. 42
Slide 43: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Source: ACNB Public filings and Internal Sources. 43