Acnb Corporation · NASDAQ:ACNB
Acnb — Shareholder Meeting (May 2009)
36 slides from Acnb's shareholder meeting presentation, May 7, 2009
Slide 1: Annual Meeting of Shareholders May 5, 2009
Annual Meeting of Shareholders May 5, 2009
Slide 2: Special Cautionary Notice Regarding Forward-Looking Statements
Special Cautionary Notice Regarding Forward-Looking Statements During the course of this presentation, management may make 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
Slide 3: Bank Stock Prices
Bank Stock Prices Source: Yahoo Finance.com Current Book Price Value Low High 3/31/09 12/31/08 2008 2009 Local Banks ACNB 10.36 17.00 9.45 14.18 0.19 0.19 CVLY 7.75 17.75 8.06 12.99 0.13 0.08 FRAF 16.70 25.25 15.00 19.10 0.27 0.27 ORRF 27.00 33.96 24.00 16.18 0.22 0.22 Regional Banks FULT 7.35 17.00
Slide 4: FDIC Insured Institutions
FDIC Insured Institutions Source: FDIC Banking Profile 2004 2005 2006 2007 2008 4th Q 2008 2009 Failed 4 0 0 3 25 12 32 Institutions Percentage of Unprofitable 5.97% 6.22% 7.94% 12.07% 23.59% 32.56% TBA Institutions
Slide 5: Year-End Comparisons December 31, 2008
Year-End Comparisons December 31, 2008 Sources: ACNB 10-K, FDIC Banking Profile ACNB FDIC Insured Corporation Institutions ROA 0.72% 0.08% ROE 7.96% 0.79% Yield on Loans 6.00% 6.77% Yield on Securities 5.11% 5.03% Cost of Interest Bearing Deposits 2.19% 2.87% Net Interest Margin 3.37% 3.18% Total Ov
Slide 6: Performance Comparison
Performance Comparison At Year-End in Thousands of Dollars 2005 2006 2007 2008 Interest Income: • From Loans $27,243 $33,281 $35,740 $35,561 • From Securities $15,041 $15,006 $15,841 $12,360 Total Interest Income $42,284 $48,287 $51,581 $47,921 Interest Expense: $17,370 $23,448 $26,561 $18,897 Net I
Slide 7: Nonroutine Shareholder Proposals
Nonroutine Shareholder Proposals Proposal #6: Authorization of Preferred Stock Supplement to common stock, not replacement. Increase the flexibility of ACNB to structure future capital raising transactions, acquisitions, and strategic alliances. No immediate need, no current plans to issue preferred
Slide 8: David W. Cathell, EVP, Treasurer & Chief Financial Officer
David W. Cathell EVP, Treasurer & Chief Financial Officer
Slide 9: U.S. Treasury - TARP
U. S. Treasury - TARP ACNB Corporation elected not to participate in TARP, the Troubled Asset Relief Program, for the following reasons: ACNB is well capitalized, and is not in need of emergency capital funding. If ACNB would have participated in TARP, future dividends to shareholders would be restr
Slide 10: Federal Deposit Insurance Corporation Improvement Act (FDICIA)
Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) The Federal Deposit Insurance Corporation Improvement Act requires that institutions be classified, based on their risk-based capital ratios into one of five defined categories, as illustrated below: well capitalized, adequately
Slide 11: Regulation of Bank
Regulation of Bank The Office of the Comptroller of the Currency, which has primary supervisory authority over national banks, regularly examines banks in such areas as reserves, loans, investments, management practices, and other aspects of operations. These examinations are designed for the protec
Slide 12: Report of Independent Auditors: Financial Statements
In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of ACNB Corporation and Subsidiaries as of December 31, 2008 and 2007, and the results of their operations and their cash flows for each of the years in the three-year period ended
Slide 13: Report of Independent Auditors: Internal Controls
Beard Miller Company, LLP Report on Internal Controls Report of Independent Auditors In our opinion, ACNB Corporation maintained, in all material respects, effective internal control over financial reporting as of December 31, 2008, based on criteria established in Internal Control – Integrated Fram
Slide 14: ACNB Corporation Balance Sheet Trends
ACNB Corporation Balance Sheet Trends At Year-End in Millions of Dollars 0 250 500 750 1,000 2000 2001 2002 2003 2004 2005 2006 2007 2008 Assets Deposits Loans Securities 567 169 361 453 253 638 690 977
Slide 15: Net Interest Income
Net Interest Income At Year-End in Millions of Dollars 22.9 23.1 24.3 22.7 24.6 24.9 24.8 25.0 29.0 0.0 5.0 10.0 15.0 20.0 25.0 30.0 2000 2001 2002 2003 2004 2005 2006 2007 2008
Slide 16: Shareholders' Equity
Shareholders’ Equity At Year-End in Millions of Dollars 60.4 63.0 70.5 72.7 74.5 74.0 77.3 85.1 84.4 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0 2000 2001 2002 2003 2004 2005 2006 2007 2008
Slide 17: Book Value Per Share
Book Value Per Share At Year-End in Dollars 10.09 10.52 11.76 12.13 12.44 12.32 12.90 14.21 14.18 0.00 2.00 4.00 6.00 8.00 10.00 12.00 14.00 16.00 2000 2001 2002 2003 2004 2005 2006 2007 2008
Slide 18: James P. Helt, EVP/Banking Services
James P. Helt EVP/Banking Services
Slide 19: Total Loans
Total Loans At Year-End in Millions of Dollars 361 362 372 415 441 493 524 548 638 200 300 400 500 600 700 2000 2001 2002 2003 2004 2005 2006 2007 2008
Slide 20: Loan Volume by Segment
Loan Volume by Segment At Year-End in Millions of Dollars 325 144 204 162 109 55 0 50 100 150 200 250 300 350 2000 2001 2002 2003 2004 2005 2006 2007 2008 Commercial Residential Mortgage Consumer/Other
Slide 21: Allowance for Loan Losses
Allowance for Loan Losses At Year-End as Percentage of Total Loans 1.02 1.03 1.02 0.89 0.90 1.03 1.07 1.16 0.96 0.00 0.50 1.00 1.50 2000 2001 2002 2003 2004 2005 2006 2007 2008
Slide 22: Net Loan Losses to Total Loans
Net Loan Losses to Total Loans Industry Peer Group includes: All Commercial Banks with asset size of $300 million to $1 billion. Source: FDIC, Uniform Bank Performance Report 0.68 0.07 0.06 0.03 0.08 0.00 0.00 0.00 1.28 0.23 0.24 0.26 0.17 0.18 0.11 0.13 0.00 0.25 0.50 0.75 1.00 1.25 1.50 2001 2002
Slide 23: Total Deposits
Total Deposits At Year-End in Millions of Dollars 453 509 583 639 647 679 670 671 690 250 300 350 400 450 500 550 600 650 700 750 800 2000 2001 2002 2003 2004 2005 2006 2007 2008
Slide 24: Deposit Volume by Segment
Deposit Volume by Segment At Year-End in Millions of Dollars 172 61 36 59 301 184 247 83 0 50 100 150 200 250 300 350 400 2000 2001 2002 2003 2004 2005 2006 2007 2008 Interest Bearing Transaction Accounts CDs Non-Interest Transaction Accounts IRAs/Other
Slide 25: Lynda L. Glass, EVP & Chief Operating Officer
Lynda L. Glass EVP & Chief Operating Officer
Slide 26: 2009 Strategic Direction Overview
2009 Strategic Direction Overview Asset growth driven by loan growth. Funding of loan growth primarily via deposit growth and securities run-off.
Slide 27: ACNB Corporation Balance Sheet Trends
ACNB Corporation Balance Sheet Trends At Year-End in Millions of Dollars 0 250 500 750 1,000 2000 2001 2002 2003 2004 2005 2006 2007 2008 Assets Deposits Loans Securities 567 169 361 453 253 638 690 977
Slide 28: Total Number of Bank Employees
Total Number of Bank Employees Actual Count at Period-End 281 265 270 275 271 0 100 200 300 400 2005 2006 2007 2008 1st Q 2009
Slide 29: Total Bank Employees by Function
Total Bank Employees by Function Actual Count at Period-End 58 47 134 152 57 41 25 26 7 5 0 25 50 75 100 125 150 175 2005 2006 2007 2008 1st Q 2009 Retail Banking Operations/IT Lending/Credit Administration Trust
Slide 30: Balance Sheet Reposition
Balance Sheet Reposition In Millions of Dollars except Percentages Sources: ACNB 10-K, Interim Report 12/31/2004 12/31/2005 12/31/2006 12/31/2007 12/31/2008 3/31/2009 Assets $924 $945 $965 $927 $977 $962 Loans $441 $493 $524 $548 $638 $642 Securities $406 $368 $353 $290 $253 $222 Deposits $647 $679
Slide 31: Paul H. Ketterman, Jr., SVP & Senior Trust Officer
Paul H. Ketterman, Jr. SVP & Senior Trust Officer
Slide 32: Trust Department Assets
Trust Department Assets At Year-End in Millions of Dollars 112 115 93 74 76 65 59 69 56 20 40 60 80 100 120 2000 2001 2002 2003 2004 2005 2006 2007 2008
Slide 33: Trust Department Fee Income
Trust Department Fee Income At Year-End in Thousands of Dollars 512 439 498 540 906 1,021 770 584 666 200 400 600 800 1,000 2000 2001 2002 2003 2004 2005 2006 2007 2008
Slide 34: Russell Insurance Group EBITDA
Russell Insurance Group EBITDA EBITDA, Earnings Before Interest, Taxes, Depreciation and Amortization, is an operating profit measure commonly used to compare insurance agencies. $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000 $1,800,000 2005 2006 2007 2008 Project
Slide 35: Russell Insurance Group Net Income
Russell Insurance Group Net Income EPS = $0.12 $0.12 $0.11 $0.06 $0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 2005 2006 2007 2008
Slide 36: Corporation
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