Tanger Factory Outlet Centers, ACNB up in Q2
An outlet center operator with regional properties and midstate bank holding company have reported earnings for the second quarter.
Both were up over last year.
Tanger Factory Outlet Centers Inc.
North Carolina-based Tanger Factory Outlet Centers Inc., which operates outlet centers in East Lampeter and Derry townships, reported net income available to common shareholders of $18.4 million, or 20 cents per diluted share, compared to $16.7 million, or 18 cents per diluted share, in the second quarter of 2013.
Tanger just opened an outlet center in Charlotte, N.C. It has plans to open another center and expand on four others before the end of the year.
“Strong tenant demand for space provided a tailwind for our business in the first half,” said Steven Tanger, president and CEO.
During the first six months of the year, Tanger executed 320 leases totaling 1.4 million square feet and renewals accounting for 1 million square feet.
Gettysburg-based ACNB Corp., the holding company for ACNB Bank of Gettysburg and Russell Insurance Group Inc. in Westminster, Md., reported net income of $2.7 million, or 46 cents per diluted share, in the second quarter. That was up from $2.3 million, or 38 cents per diluted share, in the second quarter last year.
Total assets of ACNB Corp. at the end of June were about $1.1 billion, an increase of 2 percent over the year.
ACNB has 20 retail banking offices located in Adams, Cumberland, Franklin and York counties.