Sign In
Upcoming Event
Free Newsletter
ACNB Corp. announces record earnings in 2021
At the annual meeting of its shareholders May 3, ACNB Corp. reported record earnings for 2021.
Gettysburg-based ACNB is the $2.7 billion financial holding company for wholly-owned subsidiaries ACNB Bank and ACNB Insurance Services Inc.
Net income totaled $27.8 million, or $9.4 million more than in 2020.
“We remain focused on this vision as we enter 2022 and look to a post-pandemic environment for growth,” ACNB Corp. President and CEO James P. Helt said at the meeting. “After responding to the initial impacts of COVID-19 in 2020, we managed (toward) the future in 2021 despite the challenges of the business environment.”
The record earnings were in spite of continued low interest rates and excessive liquidity in the marketplace “that negatively impacted our net interest income and net interest margin for the year,” Helt said. “… 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 concluded: “… ACNB Corp. remains well capitalized and positioned to continue our growth trends to the benefit of our customers, employees, shareholders and communities.”
ACNB Bank operates 20 community banking offices in Adams, Cumberland, Franklin and York counties as well as loan offices in Lancaster and York and Hunt Valley, Maryland.
