10-Q 1 acnb-20240930.htm 10-Q acnb-20240930
false000071557912/312024Q3xbrli:sharesiso4217:USDiso4217:USDxbrli:sharesacnb:bankacnb:branchxbrli:pureacnb:segment00007155792024-01-012024-09-3000007155792024-10-3000007155792024-09-3000007155792023-12-3100007155792024-07-012024-09-3000007155792023-07-012023-09-3000007155792023-01-012023-09-300000715579us-gaap:DepositAccountMember2024-07-012024-09-300000715579us-gaap:DepositAccountMember2023-07-012023-09-300000715579us-gaap:DepositAccountMember2024-01-012024-09-300000715579us-gaap:DepositAccountMember2023-01-012023-09-300000715579us-gaap:FiduciaryAndTrustMember2024-07-012024-09-300000715579us-gaap:FiduciaryAndTrustMember2023-07-012023-09-300000715579us-gaap:FiduciaryAndTrustMember2024-01-012024-09-300000715579us-gaap:FiduciaryAndTrustMember2023-01-012023-09-300000715579acnb:ATMServiceChargesandDebitCardTransactionsMember2024-07-012024-09-300000715579acnb:ATMServiceChargesandDebitCardTransactionsMember2023-07-012023-09-300000715579acnb:ATMServiceChargesandDebitCardTransactionsMember2024-01-012024-09-300000715579acnb:ATMServiceChargesandDebitCardTransactionsMember2023-01-012023-09-300000715579us-gaap:MortgageBankingMember2024-07-012024-09-300000715579us-gaap:MortgageBankingMember2023-07-012023-09-300000715579us-gaap:MortgageBankingMember2024-01-012024-09-300000715579us-gaap:MortgageBankingMember2023-01-012023-09-300000715579us-gaap:CommonStockMember2023-12-310000715579us-gaap:TreasuryStockCommonMember2023-12-310000715579us-gaap:AdditionalPaidInCapitalMember2023-12-310000715579us-gaap:RetainedEarningsMember2023-12-310000715579us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310000715579us-gaap:RetainedEarningsMember2024-01-012024-03-3100007155792024-01-012024-03-310000715579us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-03-310000715579us-gaap:CommonStockMember2024-01-012024-03-310000715579us-gaap:AdditionalPaidInCapitalMember2024-01-012024-03-310000715579us-gaap:TreasuryStockCommonMember2024-01-012024-03-310000715579us-gaap:CommonStockMember2024-03-310000715579us-gaap:TreasuryStockCommonMember2024-03-310000715579us-gaap:AdditionalPaidInCapitalMember2024-03-310000715579us-gaap:RetainedEarningsMember2024-03-310000715579us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-03-3100007155792024-03-310000715579us-gaap:RetainedEarningsMember2024-04-012024-06-3000007155792024-04-012024-06-300000715579us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-04-012024-06-300000715579us-gaap:CommonStockMember2024-04-012024-06-300000715579us-gaap:AdditionalPaidInCapitalMember2024-04-012024-06-300000715579us-gaap:CommonStockMember2024-06-300000715579us-gaap:TreasuryStockCommonMember2024-06-300000715579us-gaap:AdditionalPaidInCapitalMember2024-06-300000715579us-gaap:RetainedEarningsMember2024-06-300000715579us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-06-3000007155792024-06-300000715579us-gaap:RetainedEarningsMember2024-07-012024-09-300000715579us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-07-012024-09-300000715579us-gaap:CommonStockMember2024-07-012024-09-300000715579us-gaap:AdditionalPaidInCapitalMember2024-07-012024-09-300000715579us-gaap:TreasuryStockCommonMember2024-07-012024-09-300000715579us-gaap:CommonStockMember2024-09-300000715579us-gaap:TreasuryStockCommonMember2024-09-300000715579us-gaap:AdditionalPaidInCapitalMember2024-09-300000715579us-gaap:RetainedEarningsMember2024-09-300000715579us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-09-300000715579us-gaap:CommonStockMember2022-12-310000715579us-gaap:TreasuryStockCommonMember2022-12-310000715579us-gaap:AdditionalPaidInCapitalMember2022-12-310000715579us-gaap:RetainedEarningsMember2022-12-310000715579us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-3100007155792022-12-310000715579us-gaap:RetainedEarningsMember2023-01-012023-03-3100007155792023-01-012023-03-310000715579us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310000715579us-gaap:CommonStockMember2023-01-012023-03-310000715579us-gaap:AdditionalPaidInCapitalMember2023-01-012023-03-310000715579us-gaap:TreasuryStockCommonMember2023-01-012023-03-310000715579us-gaap:CommonStockMember2023-03-310000715579us-gaap:TreasuryStockCommonMember2023-03-310000715579us-gaap:AdditionalPaidInCapitalMember2023-03-310000715579us-gaap:RetainedEarningsMember2023-03-310000715579us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-3100007155792023-03-310000715579us-gaap:RetainedEarningsMember2023-04-012023-06-3000007155792023-04-012023-06-300000715579us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-04-012023-06-300000715579us-gaap:CommonStockMember2023-04-012023-06-300000715579us-gaap:AdditionalPaidInCapitalMember2023-04-012023-06-300000715579us-gaap:CommonStockMember2023-06-300000715579us-gaap:TreasuryStockCommonMember2023-06-300000715579us-gaap:AdditionalPaidInCapitalMember2023-06-300000715579us-gaap:RetainedEarningsMember2023-06-300000715579us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-3000007155792023-06-300000715579us-gaap:RetainedEarningsMember2023-07-012023-09-300000715579us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-07-012023-09-300000715579us-gaap:CommonStockMember2023-07-012023-09-300000715579us-gaap:AdditionalPaidInCapitalMember2023-07-012023-09-300000715579us-gaap:TreasuryStockCommonMember2023-07-012023-09-300000715579us-gaap:CommonStockMember2023-09-300000715579us-gaap:TreasuryStockCommonMember2023-09-300000715579us-gaap:AdditionalPaidInCapitalMember2023-09-300000715579us-gaap:RetainedEarningsMember2023-09-300000715579us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-09-3000007155792023-09-300000715579acnb:AdamsCumberlandFranklinLancasterAndYorkCountiesPennsylvaniaMember2024-01-012024-09-300000715579acnb:CarrollAndFrederickCountiesMarylandMember2024-01-012024-09-300000715579acnb:TraditionsBancorpInc.Member2024-07-192024-07-190000715579acnb:TraditionsBancorpInc.Member2024-07-190000715579acnb:TraditionsBancorpInc.Member2024-09-300000715579acnb:TraditionsBancorpInc.Member2023-12-310000715579acnb:ACNBCorporation2018OmnibusStockIncentivePlanMember2018-03-200000715579acnb:ACNBCorporation2009RestrictedStockPlanMember2019-02-242019-02-2400007155792019-03-080000715579us-gaap:RestrictedStockMemberacnb:ACNBCorporation2018OmnibusStockIncentivePlanMember2024-09-300000715579us-gaap:RestrictedStockMemberacnb:ACNBCorporation2018OmnibusStockIncentivePlanMember2024-07-012024-09-300000715579us-gaap:RestrictedStockMemberacnb:ACNBCorporation2018OmnibusStockIncentivePlanMember2023-07-012023-09-300000715579us-gaap:RestrictedStockMemberacnb:ACNBCorporation2018OmnibusStockIncentivePlanMember2023-01-012023-09-300000715579us-gaap:RestrictedStockMemberacnb:ACNBCorporation2018OmnibusStockIncentivePlanMember2024-01-012024-09-300000715579acnb:StockRepurchasePlanMember2022-10-180000715579acnb:StockRepurchasePlanMember2024-07-012024-09-300000715579acnb:StockRepurchasePlanMember2024-01-012024-09-300000715579acnb:StockRepurchasePlanMember2022-10-242024-09-300000715579acnb:CRAMutualFundMember2023-12-310000715579acnb:CRAMutualFundMember2024-01-012024-09-300000715579acnb:CRAMutualFundMember2024-09-300000715579acnb:CRAMutualFundMember2022-12-310000715579acnb:CRAMutualFundMember2023-01-012023-12-310000715579acnb:CanapiVenturesSBICFundMember2022-12-310000715579acnb:CanapiVenturesSBICFundMember2023-01-012023-12-310000715579acnb:CanapiVenturesSBICFundMember2023-12-310000715579acnb:StockInOtherBanksMember2022-12-310000715579acnb:StockInOtherBanksMember2023-01-012023-12-310000715579acnb:StockInOtherBanksMember2023-12-3100007155792023-01-012023-12-310000715579us-gaap:USTreasuryAndGovernmentMember2024-09-300000715579us-gaap:MortgageBackedSecuritiesMember2024-09-300000715579us-gaap:ResidentialMortgageBackedSecuritiesMember2024-09-300000715579us-gaap:CommercialMortgageBackedSecuritiesMember2024-09-300000715579us-gaap:CorporateDebtSecuritiesMember2024-09-300000715579us-gaap:USStatesAndPoliticalSubdivisionsMember2024-09-300000715579us-gaap:USTreasuryAndGovernmentMember2023-12-310000715579us-gaap:MortgageBackedSecuritiesMember2023-12-310000715579us-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310000715579us-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310000715579us-gaap:CorporateDebtSecuritiesMember2023-12-310000715579us-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000715579us-gaap:CommercialRealEstatePortfolioSegmentMember2024-09-300000715579us-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000715579us-gaap:ResidentialPortfolioSegmentMember2024-09-300000715579us-gaap:ResidentialPortfolioSegmentMember2023-12-310000715579us-gaap:CommercialPortfolioSegmentMember2024-09-300000715579us-gaap:CommercialPortfolioSegmentMember2023-12-310000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMember2024-09-300000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-12-310000715579us-gaap:ConstructionLoansMember2024-09-300000715579us-gaap:ConstructionLoansMember2023-12-310000715579us-gaap:ConsumerPortfolioSegmentMember2024-09-300000715579us-gaap:ConsumerPortfolioSegmentMember2023-12-310000715579us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-09-300000715579us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-09-300000715579us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-09-300000715579us-gaap:FinancialAssetPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-09-300000715579us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-09-300000715579us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2024-09-300000715579us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2024-09-300000715579us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2024-09-300000715579us-gaap:FinancialAssetPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2024-09-300000715579us-gaap:FinancialAssetNotPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2024-09-300000715579us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2024-09-300000715579us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2024-09-300000715579us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2024-09-300000715579us-gaap:FinancialAssetPastDueMemberus-gaap:CommercialPortfolioSegmentMember2024-09-300000715579us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialPortfolioSegmentMember2024-09-300000715579us-gaap:FinancingReceivables30To59DaysPastDueMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2024-09-300000715579us-gaap:FinancingReceivables60To89DaysPastDueMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2024-09-300000715579us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2024-09-300000715579us-gaap:FinancialAssetPastDueMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2024-09-300000715579us-gaap:FinancialAssetNotPastDueMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2024-09-300000715579us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConstructionLoansMember2024-09-300000715579us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConstructionLoansMember2024-09-300000715579us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConstructionLoansMember2024-09-300000715579us-gaap:FinancialAssetPastDueMemberus-gaap:ConstructionLoansMember2024-09-300000715579us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConstructionLoansMember2024-09-300000715579us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2024-09-300000715579us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2024-09-300000715579us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2024-09-300000715579us-gaap:FinancialAssetPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2024-09-300000715579us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2024-09-300000715579us-gaap:FinancingReceivables30To59DaysPastDueMember2024-09-300000715579us-gaap:FinancingReceivables60To89DaysPastDueMember2024-09-300000715579us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-09-300000715579us-gaap:FinancialAssetPastDueMember2024-09-300000715579us-gaap:FinancialAssetNotPastDueMember2024-09-300000715579us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000715579us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000715579us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000715579us-gaap:FinancialAssetPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000715579us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000715579us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2023-12-310000715579us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2023-12-310000715579us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2023-12-310000715579us-gaap:FinancialAssetPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2023-12-310000715579us-gaap:FinancialAssetNotPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2023-12-310000715579us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000715579us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000715579us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000715579us-gaap:FinancialAssetPastDueMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000715579us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000715579us-gaap:FinancingReceivables30To59DaysPastDueMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-12-310000715579us-gaap:FinancingReceivables60To89DaysPastDueMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-12-310000715579us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-12-310000715579us-gaap:FinancialAssetPastDueMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-12-310000715579us-gaap:FinancialAssetNotPastDueMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-12-310000715579us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConstructionLoansMember2023-12-310000715579us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConstructionLoansMember2023-12-310000715579us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConstructionLoansMember2023-12-310000715579us-gaap:FinancialAssetPastDueMemberus-gaap:ConstructionLoansMember2023-12-310000715579us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConstructionLoansMember2023-12-310000715579us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310000715579us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310000715579us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310000715579us-gaap:FinancialAssetPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310000715579us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310000715579us-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310000715579us-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310000715579us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000715579us-gaap:FinancialAssetPastDueMember2023-12-310000715579us-gaap:FinancialAssetNotPastDueMember2023-12-310000715579acnb:BusinessAssetsMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-09-300000715579us-gaap:RealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-09-300000715579acnb:BusinessAssetsMemberus-gaap:CommercialPortfolioSegmentMember2024-09-300000715579us-gaap:RealEstateMemberus-gaap:CommercialPortfolioSegmentMember2024-09-300000715579acnb:BusinessAssetsMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2024-09-300000715579us-gaap:RealEstateMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2024-09-300000715579acnb:BusinessAssetsMember2024-09-300000715579us-gaap:RealEstateMember2024-09-300000715579acnb:BusinessAssetsMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000715579us-gaap:RealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000715579acnb:BusinessAssetsMemberus-gaap:ResidentialPortfolioSegmentMember2023-12-310000715579us-gaap:RealEstateMemberus-gaap:ResidentialPortfolioSegmentMember2023-12-310000715579acnb:BusinessAssetsMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000715579us-gaap:RealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000715579acnb:BusinessAssetsMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-12-310000715579us-gaap:RealEstateMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-12-310000715579acnb:BusinessAssetsMember2023-12-310000715579us-gaap:RealEstateMember2023-12-310000715579acnb:CombinationPaymentDeferralAndInterestOnlyPaymentsMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-07-012024-09-300000715579acnb:CombinationPaymentDeferralAndInterestOnlyPaymentsMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-01-012024-09-300000715579acnb:CombinationPaymentDeferralAndInterestOnlyPaymentsMemberus-gaap:CommercialPortfolioSegmentMember2024-01-012024-09-300000715579acnb:CombinationPaymentDeferralAndInterestOnlyPaymentsMemberus-gaap:CommercialPortfolioSegmentMember2024-07-012024-09-300000715579acnb:CombinationPaymentDeferralAndInterestOnlyPaymentsMember2024-01-012024-09-300000715579acnb:CombinationPaymentDeferralAndInterestOnlyPaymentsMember2024-07-012024-09-300000715579us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-10-012024-09-300000715579acnb:FinancialAsset3089DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-10-012024-09-300000715579us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-10-012024-09-300000715579us-gaap:CommercialRealEstatePortfolioSegmentMember2023-10-012024-09-300000715579us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialPortfolioSegmentMember2023-10-012024-09-300000715579acnb:FinancialAsset3089DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2023-10-012024-09-300000715579us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2023-10-012024-09-300000715579us-gaap:CommercialPortfolioSegmentMember2023-10-012024-09-300000715579us-gaap:FinancialAssetNotPastDueMember2023-10-012024-09-300000715579acnb:FinancialAsset3089DaysPastDueMember2023-10-012024-09-300000715579us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-10-012024-09-3000007155792023-10-012024-09-300000715579us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMemberacnb:InternallyRiskRatedMember2024-09-300000715579us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMemberacnb:InternallyRiskRatedMember2024-09-300000715579us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMemberacnb:InternallyRiskRatedMember2024-09-300000715579acnb:InternallyRiskRatedMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-09-300000715579us-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMemberacnb:InternallyRiskRatedMember2024-09-300000715579us-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMemberacnb:InternallyRiskRatedMember2024-09-300000715579us-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMemberacnb:InternallyRiskRatedMember2024-09-300000715579acnb:InternallyRiskRatedMemberus-gaap:ResidentialPortfolioSegmentMember2024-09-300000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMemberacnb:InternallyRiskRatedMember2024-09-300000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMemberacnb:InternallyRiskRatedMember2024-09-300000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMemberacnb:InternallyRiskRatedMember2024-09-300000715579acnb:InternallyRiskRatedMemberus-gaap:CommercialPortfolioSegmentMember2024-09-300000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMemberus-gaap:PassMemberacnb:InternallyRiskRatedMember2024-09-300000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMemberus-gaap:SpecialMentionMemberacnb:InternallyRiskRatedMember2024-09-300000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMemberus-gaap:SubstandardMemberacnb:InternallyRiskRatedMember2024-09-300000715579acnb:InternallyRiskRatedMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2024-09-300000715579us-gaap:ConstructionLoansMemberus-gaap:PassMemberacnb:InternallyRiskRatedMember2024-09-300000715579us-gaap:ConstructionLoansMemberus-gaap:SpecialMentionMemberacnb:InternallyRiskRatedMember2024-09-300000715579us-gaap:ConstructionLoansMemberus-gaap:SubstandardMemberacnb:InternallyRiskRatedMember2024-09-300000715579acnb:InternallyRiskRatedMemberus-gaap:ConstructionLoansMember2024-09-300000715579us-gaap:ResidentialPortfolioSegmentMemberacnb:PerformingLoansMemberacnb:PerformanceRatedMember2024-09-300000715579us-gaap:ResidentialPortfolioSegmentMemberacnb:NonperformingLoansMemberacnb:PerformanceRatedMember2024-09-300000715579acnb:PerformanceRatedMemberus-gaap:ResidentialPortfolioSegmentMember2024-09-300000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMemberacnb:PerformingLoansMemberacnb:PerformanceRatedMember2024-09-300000715579acnb:PerformanceRatedMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2024-09-300000715579us-gaap:ConstructionLoansMemberacnb:PerformingLoansMemberacnb:PerformanceRatedMember2024-09-300000715579us-gaap:ConstructionLoansMemberacnb:NonperformingLoansMemberacnb:PerformanceRatedMember2024-09-300000715579acnb:PerformanceRatedMemberus-gaap:ConstructionLoansMember2024-09-300000715579us-gaap:ConsumerPortfolioSegmentMemberacnb:PerformingLoansMemberacnb:PerformanceRatedMember2024-09-300000715579acnb:PerformanceRatedMemberus-gaap:ConsumerPortfolioSegmentMember2024-09-300000715579acnb:PerformanceRatedMemberus-gaap:ConsumerPortfolioSegmentMember2024-01-012024-09-300000715579us-gaap:PassMember2024-09-300000715579us-gaap:SpecialMentionMember2024-09-300000715579us-gaap:SubstandardMember2024-09-300000715579acnb:PerformingLoansMember2024-09-300000715579acnb:NonperformingLoansMember2024-09-300000715579us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMemberacnb:InternallyRiskRatedMember2023-12-310000715579acnb:InternallyRiskRatedMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000715579us-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMemberacnb:InternallyRiskRatedMember2023-12-310000715579acnb:InternallyRiskRatedMemberus-gaap:ResidentialPortfolioSegmentMember2023-12-310000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMemberacnb:InternallyRiskRatedMember2023-12-310000715579acnb:InternallyRiskRatedMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000715579acnb:InternallyRiskRatedMemberus-gaap:CommercialPortfolioSegmentMember2023-01-012023-12-310000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMemberus-gaap:PassMemberacnb:InternallyRiskRatedMember2023-12-310000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMemberus-gaap:SpecialMentionMemberacnb:InternallyRiskRatedMember2023-12-310000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMemberus-gaap:SubstandardMemberacnb:InternallyRiskRatedMember2023-12-310000715579acnb:InternallyRiskRatedMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-12-310000715579us-gaap:ConstructionLoansMemberus-gaap:PassMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:ConstructionLoansMemberus-gaap:SpecialMentionMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:ConstructionLoansMemberus-gaap:SubstandardMemberacnb:InternallyRiskRatedMember2023-12-310000715579acnb:InternallyRiskRatedMemberus-gaap:ConstructionLoansMember2023-12-310000715579us-gaap:ResidentialPortfolioSegmentMemberacnb:PerformingLoansMemberacnb:PerformanceRatedMember2023-12-310000715579us-gaap:ResidentialPortfolioSegmentMemberacnb:NonperformingLoansMemberacnb:PerformanceRatedMember2023-12-310000715579acnb:PerformanceRatedMemberus-gaap:ResidentialPortfolioSegmentMember2023-12-310000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMemberacnb:PerformingLoansMemberacnb:PerformanceRatedMember2023-12-310000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMemberacnb:NonperformingLoansMemberacnb:PerformanceRatedMember2023-12-310000715579acnb:PerformanceRatedMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-12-310000715579us-gaap:ConstructionLoansMemberacnb:PerformingLoansMemberacnb:PerformanceRatedMember2023-12-310000715579acnb:PerformanceRatedMemberus-gaap:ConstructionLoansMember2023-12-310000715579us-gaap:ConsumerPortfolioSegmentMemberacnb:PerformingLoansMemberacnb:PerformanceRatedMember2023-12-310000715579us-gaap:ConsumerPortfolioSegmentMemberacnb:NonperformingLoansMemberacnb:PerformanceRatedMember2023-12-310000715579acnb:PerformanceRatedMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310000715579acnb:PerformanceRatedMemberus-gaap:ConsumerPortfolioSegmentMember2023-01-012023-12-310000715579us-gaap:PassMember2023-12-310000715579us-gaap:SpecialMentionMember2023-12-310000715579us-gaap:SubstandardMember2023-12-310000715579acnb:PerformingLoansMember2023-12-310000715579acnb:NonperformingLoansMember2023-12-310000715579us-gaap:CommercialRealEstatePortfolioSegmentMember2024-06-300000715579us-gaap:ResidentialPortfolioSegmentMember2024-06-300000715579us-gaap:CommercialPortfolioSegmentMember2024-06-300000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMember2024-06-300000715579us-gaap:ConstructionLoansMember2024-06-300000715579us-gaap:ConsumerPortfolioSegmentMember2024-06-300000715579us-gaap:UnallocatedFinancingReceivablesMember2024-06-300000715579us-gaap:CommercialRealEstatePortfolioSegmentMember2024-07-012024-09-300000715579us-gaap:ResidentialPortfolioSegmentMember2024-07-012024-09-300000715579us-gaap:CommercialPortfolioSegmentMember2024-07-012024-09-300000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMember2024-07-012024-09-300000715579us-gaap:ConstructionLoansMember2024-07-012024-09-300000715579us-gaap:ConsumerPortfolioSegmentMember2024-07-012024-09-300000715579us-gaap:UnallocatedFinancingReceivablesMember2024-07-012024-09-300000715579us-gaap:UnallocatedFinancingReceivablesMember2024-09-300000715579us-gaap:UnallocatedFinancingReceivablesMember2023-12-310000715579us-gaap:CommercialRealEstatePortfolioSegmentMember2024-01-012024-09-300000715579us-gaap:ResidentialPortfolioSegmentMember2024-01-012024-09-300000715579us-gaap:CommercialPortfolioSegmentMember2024-01-012024-09-300000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMember2024-01-012024-09-300000715579us-gaap:ConstructionLoansMember2024-01-012024-09-300000715579us-gaap:ConsumerPortfolioSegmentMember2024-01-012024-09-300000715579us-gaap:UnallocatedFinancingReceivablesMember2024-01-012024-09-300000715579us-gaap:CommercialRealEstatePortfolioSegmentMember2023-06-300000715579us-gaap:ResidentialPortfolioSegmentMember2023-06-300000715579us-gaap:CommercialPortfolioSegmentMember2023-06-300000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-06-300000715579us-gaap:ConstructionLoansMember2023-06-300000715579us-gaap:ConsumerPortfolioSegmentMember2023-06-300000715579us-gaap:UnallocatedFinancingReceivablesMember2023-06-300000715579us-gaap:CommercialRealEstatePortfolioSegmentMember2023-07-012023-09-300000715579us-gaap:ResidentialPortfolioSegmentMember2023-07-012023-09-300000715579us-gaap:CommercialPortfolioSegmentMember2023-07-012023-09-300000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-07-012023-09-300000715579us-gaap:ConstructionLoansMember2023-07-012023-09-300000715579us-gaap:ConsumerPortfolioSegmentMember2023-07-012023-09-300000715579us-gaap:UnallocatedFinancingReceivablesMember2023-07-012023-09-300000715579us-gaap:CommercialRealEstatePortfolioSegmentMember2023-09-300000715579us-gaap:ResidentialPortfolioSegmentMember2023-09-300000715579us-gaap:CommercialPortfolioSegmentMember2023-09-300000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-09-300000715579us-gaap:ConstructionLoansMember2023-09-300000715579us-gaap:ConsumerPortfolioSegmentMember2023-09-300000715579us-gaap:UnallocatedFinancingReceivablesMember2023-09-300000715579us-gaap:CommercialRealEstatePortfolioSegmentMember2022-12-310000715579us-gaap:ResidentialPortfolioSegmentMember2022-12-310000715579us-gaap:CommercialPortfolioSegmentMember2022-12-310000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMember2022-12-310000715579us-gaap:ConstructionLoansMember2022-12-310000715579us-gaap:ConsumerPortfolioSegmentMember2022-12-310000715579us-gaap:UnallocatedFinancingReceivablesMember2022-12-310000715579srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2022-12-310000715579srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ResidentialPortfolioSegmentMember2022-12-310000715579srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:CommercialPortfolioSegmentMember2022-12-310000715579srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2022-12-310000715579srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ConstructionLoansMember2022-12-310000715579srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310000715579srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:UnallocatedFinancingReceivablesMember2022-12-310000715579srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2022-12-310000715579us-gaap:CommercialRealEstatePortfolioSegmentMember2023-01-012023-09-300000715579us-gaap:ResidentialPortfolioSegmentMember2023-01-012023-09-300000715579us-gaap:CommercialPortfolioSegmentMember2023-01-012023-09-300000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-01-012023-09-300000715579us-gaap:ConstructionLoansMember2023-01-012023-09-300000715579us-gaap:ConsumerPortfolioSegmentMember2023-01-012023-09-300000715579us-gaap:UnallocatedFinancingReceivablesMember2023-01-012023-09-300000715579acnb:LessThan250000Member2024-09-300000715579acnb:MoreThan250000Member2024-09-300000715579us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2024-09-300000715579us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2023-12-310000715579us-gaap:FederalHomeLoanBankAdvancesMember2024-09-300000715579us-gaap:FederalHomeLoanBankAdvancesMember2023-12-310000715579acnb:TrustPreferredSubordinatedDebtFCBIMemberus-gaap:SubordinatedDebtMember2024-09-300000715579acnb:TrustPreferredSubordinatedDebtFCBIMemberus-gaap:SubordinatedDebtMember2023-12-310000715579us-gaap:SubordinatedDebtMember2024-09-300000715579us-gaap:SubordinatedDebtMember2023-12-310000715579acnb:TrustPreferredSubordinatedDebtFCBIMemberus-gaap:SubordinatedDebtMember2024-07-012024-09-300000715579acnb:TrustPreferredSubordinatedDebtFCBIMemberus-gaap:SubordinatedDebtMember2024-03-150000715579us-gaap:SubordinatedDebtMember2021-03-300000715579us-gaap:SubordinatedDebtMember2021-03-302021-03-300000715579us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300000715579us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300000715579us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-09-300000715579us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2024-09-300000715579us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2024-09-300000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2024-09-300000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2024-09-300000715579us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedMortgageObligationsMember2024-09-300000715579us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedMortgageObligationsMember2024-09-300000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedMortgageObligationsMember2024-09-300000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedMortgageObligationsMember2024-09-300000715579us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-09-300000715579us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-09-300000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-09-300000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-09-300000715579us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-09-300000715579us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-09-300000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-09-300000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-09-300000715579us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2024-09-300000715579us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2024-09-300000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2024-09-300000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2024-09-300000715579us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberacnb:CollateralDependentImpairedLoanMember2024-09-300000715579us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberacnb:CollateralDependentImpairedLoanMember2024-09-300000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberacnb:CollateralDependentImpairedLoanMember2024-09-300000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsNonrecurringMemberacnb:CollateralDependentImpairedLoanMember2024-09-300000715579us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2024-09-300000715579us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2024-09-300000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2024-09-300000715579us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-09-300000715579us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000715579us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000715579us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000715579us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310000715579us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310000715579us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedMortgageObligationsMember2023-12-310000715579us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedMortgageObligationsMember2023-12-310000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedMortgageObligationsMember2023-12-310000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedMortgageObligationsMember2023-12-310000715579us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310000715579us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310000715579us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310000715579us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310000715579us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310000715579us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310000715579us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberacnb:CollateralDependentImpairedLoanMember2023-12-310000715579us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberacnb:CollateralDependentImpairedLoanMember2023-12-310000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberacnb:CollateralDependentImpairedLoanMember2023-12-310000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsNonrecurringMemberacnb:CollateralDependentImpairedLoanMember2023-12-310000715579us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000715579us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000715579us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000715579us-gaap:FairValueMeasurementsNonrecurringMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberacnb:CollateralDependentImpairedLoanMember2024-09-300000715579us-gaap:FairValueMeasurementsNonrecurringMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberacnb:CollateralDependentImpairedLoanMember2024-09-300000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDiscountRateMemberacnb:CollateralDependentImpairedLoanMember2024-09-300000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberacnb:RealEstateAcquiredThroughForeclosureMember2024-09-300000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDiscountRateMemberacnb:RealEstateAcquiredThroughForeclosureMember2024-09-300000715579us-gaap:FairValueMeasurementsNonrecurringMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberacnb:CollateralDependentImpairedLoanMember2023-12-310000715579us-gaap:FairValueMeasurementsNonrecurringMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberacnb:CollateralDependentImpairedLoanMember2023-12-310000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDiscountRateMemberacnb:CollateralDependentImpairedLoanMember2023-12-310000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberacnb:RealEstateAcquiredThroughForeclosureMember2023-12-310000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDiscountRateMemberacnb:RealEstateAcquiredThroughForeclosureMember2023-12-310000715579us-gaap:CarryingReportedAmountFairValueDisclosureMember2024-09-300000715579us-gaap:EstimateOfFairValueFairValueDisclosureMember2024-09-300000715579us-gaap:FairValueInputsLevel1Member2024-09-300000715579us-gaap:FairValueInputsLevel2Member2024-09-300000715579us-gaap:FairValueInputsLevel3Member2024-09-300000715579us-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000715579us-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000715579us-gaap:FairValueInputsLevel1Member2023-12-310000715579us-gaap:FairValueInputsLevel2Member2023-12-310000715579us-gaap:FairValueInputsLevel3Member2023-12-310000715579us-gaap:UnsecuredDebtMemberus-gaap:LineOfCreditMember2024-09-300000715579us-gaap:LineOfCreditMember2024-09-300000715579us-gaap:CommitmentsToExtendCreditMember2024-09-300000715579us-gaap:CommitmentsToExtendCreditMember2023-12-310000715579us-gaap:StandbyLettersOfCreditMember2024-09-300000715579us-gaap:StandbyLettersOfCreditMember2023-12-310000715579us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-06-300000715579us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-06-300000715579us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-07-012024-09-300000715579us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-07-012024-09-300000715579us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-09-300000715579us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-09-300000715579us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-12-310000715579us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-12-310000715579us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-01-012024-09-300000715579us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-01-012024-09-300000715579us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-09-300000715579us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-06-300000715579us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-06-300000715579us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-07-012023-09-300000715579us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-07-012023-09-300000715579us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-09-300000715579us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-09-300000715579us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-12-310000715579us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-12-310000715579us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-01-012023-09-300000715579us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-01-012023-09-300000715579us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-09-300000715579acnb:BankingReportingSegmentMember2024-07-012024-09-300000715579acnb:InsuranceReportingSegmentMember2024-07-012024-09-300000715579acnb:BankingReportingSegmentMember2024-09-300000715579acnb:InsuranceReportingSegmentMember2024-09-300000715579acnb:BankingReportingSegmentMember2023-07-012023-09-300000715579acnb:InsuranceReportingSegmentMember2023-07-012023-09-300000715579acnb:BankingReportingSegmentMember2023-09-300000715579acnb:InsuranceReportingSegmentMember2023-09-300000715579acnb:BankingReportingSegmentMember2024-01-012024-09-300000715579acnb:InsuranceReportingSegmentMember2024-01-012024-09-300000715579acnb:BankingReportingSegmentMember2023-01-012023-09-300000715579acnb:InsuranceReportingSegmentMember2023-01-012023-09-30

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
 
FORM 10-Q 
(Mark One)
☒    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 
For the quarterly period ended September 30, 2024

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _______ to _______

Commission file number 1-35015
 
ACNB CORPORATION
(Exact name of Registrant as specified in its charter) 
Pennsylvania 23-2233457
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
16 Lincoln Square, Gettysburg, Pennsylvania
 17325
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (717) 334-3161

Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading SymbolName of each exchange on which registered
Common Stock, $2.50 par value per share ACNBThe NASDAQ Stock Market, LLC
 
Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes ☒ No ☐
 
Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted and pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files).  Yes ☒ No ☐
 
Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer☐ Accelerated filer ☒
Non-accelerated filer☐Smaller reporting company ☐
Emerging growth company☐
 
If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐
No ☒
 
The number of shares of the Registrant’s Common Stock outstanding on October 30, 2024, was 8,548,625.


ACNB CORPORATION
Table of Contents
Page
Part I - Financial Information
Item 1.
Item 2.
Item 3.
Item 4.
Part II - Other Information
Item 1.
Item 1A.
Item 2.
Item 3.
Item 4.
Item 5.
Item 6.
#
2

ACNB CORPORATION
Glossary of Defined Acronyms and Terms
ACLAllowance for Credit Losses
ACNB Insurance ServicesACNB Insurance Services, Inc.
ACNB, Corporation or CompanyACNB Corporation
AFSAvailable for Sale
ALCOAsset Liability Committee
ASCAccounting Standard Codification
ASUAccounting Standard Update
ATMAutomatic Teller Machine
BankACNB Bank
Basel IIIRisk-based requirements and rules issued by federal banking agencies
bp or bpsBasis point(s)
CECLCurrent Expected Credit Loss
CMEChicago Mercantile Exchange
CRACommunity Reinvestment Act of 1977
ETREffective Tax Rate
Exchange ActSecurities Exchange Act of 1934
FASBFinancial Accounting Standards Board
FCAFinancial Conduct Authority
FCBIFrederick County Bancorp, Inc.
FDICFederal Deposit Insurance Corporation
FHLBFederal Home Loan Bank
FOMCFederal Open Market Committee
FTEFully Taxable Equivalent
GAAPU.S. Generally Accepted Accounting Principles
HTMHeld to Maturity
LIBORLondon Inter-Bank Offered Rate
Market AreaSouthcentral Pennsylvania and Northern Maryland
Purchase AgreementsSubordinated Note Purchase Agreements
PurchasersInstitutional accredited investors and qualified institutional buyers
SBICSmall Business Investment Company
SECSecurities and Exchange Commission
SOFRSecured Overnight Financing Rate
Subordinated Notes4.00% fixed-to-floating rate subordinated notes due March 31, 2031
TraditionsTraditions Bancorp, Inc.
3
PART I - FINANCIAL INFORMATION
 

ACNB CORPORATION
ITEM 1 - FINANCIAL STATEMENTS
CONSOLIDATED STATEMENTS OF CONDITION (UNAUDITED)
(Dollars in thousands, except per share data)September 30,
2024		December 31,
2023
ASSETS  
Cash and due from banks$24,636 $21,442 
Interest-bearing deposits with banks33,456 44,516 
Total Cash and Cash Equivalents58,092 65,958 
Equity securities with readily determinable fair values947 928 
Investment securities available for sale, at estimated fair value418,079 451,693 
Investment securities held to maturity, at amortized cost (fair value $59,038, $59,057)
64,578 64,600 
Loans held for sale1,080 280 
Total loans, net of unearned income1,677,112 1,627,988 
Less: Allowance for credit losses(17,214)(19,969)
Loans, net1,659,898 1,608,019 
Premises and equipment, net25,542 26,283 
Right of use asset2,110 2,615 
Restricted investment in bank stocks10,853 9,677 
Investment in bank-owned life insurance81,344 79,871 
Investments in low-income housing partnerships909 1,003 
Goodwill44,185 44,185 
Intangible assets, net8,142 9,082 
Foreclosed assets held for resale406 467 
Other assets44,749 54,186 
Total Assets$2,420,914 $2,418,847 
LIABILITIES AND STOCKHOLDERS’ EQUITY  
Deposits:  
Noninterest-bearing$463,501 $500,332 
Interest-bearing1,327,816 1,361,481 
Total Deposits1,791,317 1,861,813 
Short-term borrowings37,769 56,882 
Long-term borrowings255,322 195,292 
Lease liability2,110 2,615 
Allowance for unfunded commitments1,349 1,719 
Other liabilities26,292 23,065 
Total Liabilities2,114,159 2,141,386 
Stockholders’ Equity:  
Preferred stock, $2.50 par value; 20,000,000 shares authorized; no shares outstanding at September 30, 2024 and December 31, 2023
— — 
Common stock, $2.50 par value; 20,000,000 shares authorized; 8,940,133 and 8,896,119 shares issued; 8,548,625 and 8,511,453 shares outstanding at September 30, 2024 and December 31, 2023, respectively
22,344 22,231 
Treasury stock, at cost; 391,508 and 384,666 shares at September 30,
2024 and December 31, 2023, respectively
(11,203)(10,954)
Additional paid-in capital98,697 97,602 
Retained earnings230,752 213,491 
Accumulated other comprehensive loss(33,835)(44,909)
Total Stockholders’ Equity306,755 277,461 
Total Liabilities and Stockholders’ Equity$2,420,914 $2,418,847 
The accompanying notes are an integral part of the Consolidated Financial Statements.
4
 ACNB CORPORATION
 CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
Three Months Ended September 30,Nine Months Ended September 30,
(Dollars in thousands, except share data)2024202320242023
INTEREST AND DIVIDEND INCOME  
Loans, including fees
Taxable$23,108 $20,285 $67,253 $58,130 
Tax-exempt311 361 943 1,069 
Investment Securities:  
Taxable2,617 2,477 8,193 8,451 
Tax-exempt284 284 852 883 
Dividends251 104 739 196 
Other670 723 2,104 2,627 
Total Interest and Dividend Income27,241 24,234 80,084 71,356 
INTEREST EXPENSE  
Deposits3,112 928 7,915 1,887 
Short-term borrowings204 439 847 564 
Long-term borrowings2,983 1,122 8,823 2,078 
Total Interest Expense6,299 2,489 17,585 4,529 
Net Interest Income20,942 21,745 62,499 66,827 
Provision for (reversal of) credit losses81 250 (2,686)74 
Provision for (reversal of) unfunded commitments40 (171)(370)226 
Net Interest Income after Provisions for (Reversal of) Credit Losses and Unfunded Commitments20,821 21,666 65,555 66,527 
NONINTEREST INCOME  
Insurance commissions2,787 2,629 7,649 7,371 
Service charges on deposits1,048 1,000 3,060 2,951 
Wealth management1,188 953 3,219 2,772 
ATM debit card charges828 845 2,488 2,502 
Earnings on investment in bank-owned life insurance503 473 1,473 1,399 
Gain from mortgage loans held for sale112 — 194 31 
Net gains (losses) on sales or calls of investment securities— — 69 (739)
Net gains (losses) on equity securities28 (27)19 (22)
Gain on assets held for sale— 14 — 337 
Other339 410 756 873 
Total Noninterest Income6,833 6,297 18,927 17,475 
NONINTEREST EXPENSES  
Salaries and employee benefits11,017 10,069 32,611 30,335 
Equipment1,698 1,554 4,997 4,784 
Net occupancy945 942 3,066 2,981 
Professional services409 617 1,554 1,600 
FDIC and regulatory365 388 1,088 932 
Other tax360 323 1,086 965 
Intangible assets amortization304 352 940 1,072 
Supplies and postage236 229 610 633 
Marketing and corporate relations99 159 275 472 
Merger-related1,137 — 1,160 — 
Other1,674 1,703 4,910 5,125 
Total Noninterest Expenses18,244 16,336 52,297 48,899 
Income Before Income Taxes9,410 11,627 32,185 35,103 
Provision for income taxes2,206 2,583 6,934 7,512 
Net Income$7,204 $9,044 $25,251 $27,591 
PER SHARE DATA  
Basic earnings $0.85 $1.06 $2.97 $3.24 
Diluted earnings$0.84 $1.06 $2.96 $3.23 
Weighted average shares basic8,507,140 8,517,917 8,500,860 8,518,006 
Weighted average shares diluted8,545,578 8,551,545 8,532,691 8,544,732 
The accompanying notes are an integral part of the Consolidated Financial Statements.
5
ACNB CORPORATION
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)

 Three Months Ended September 30,Nine Months Ended September 30,
(Dollars in thousands)2024202320242023
NET INCOME$7,204 $9,044 $25,251 $27,591 
OTHER COMPREHENSIVE INCOME (LOSS)  
INVESTMENT SECURITIES  
Unrealized gains (losses) arising during the period, net of income tax expense (benefit) of $3,621, $(2,133), $3,034 and $(3,575), respectively
12,334 (7,033)10,331 (8,288)
Reclassification adjustment for net AFS investment securities gains included in net income, net of income tax expense of $0, $0, $16 and $171, respectively
— — 53 556 
Total unrealized gain (loss) on AFS investment securities12,334 (7,033)10,384 (7,732)
Amortization of unrealized losses on AFS investment securities transferred to HTM, net of income taxes of $63, $32, $189 and $110, respectively
215 244 645 731 
PENSION  
Amortization of pension net loss, transition liability, and prior service cost, net of income tax expense of $4, $52, $13 and $76, respectively
15 74 45 246 
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) 12,564 (6,715)11,074 (6,755)
TOTAL COMPREHENSIVE INCOME $19,768 $2,329 $36,325 $20,836 
 
The accompanying notes are an integral part of the Consolidated Financial Statements.



6
ACNB CORPORATION
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (UNAUDITED)
Nine Months Ended September 30, 2024
(Dollars in thousands, except per share data)Common StockTreasury StockAdditional Paid-in CapitalRetained
Earnings		Accumulated
Other
Comprehensive
Loss		Total
Stockholders’
Equity
BALANCE – January 1, 2024
$22,231 $(10,954)$97,602 $213,491 $(44,909)$277,461 
Net income— — — 6,768 — 6,768 
Other comprehensive loss, net of taxes— — — — (1,915)(1,915)
Common stock shares issued (4,898 shares)
13 — 161 — — 174 
Repurchased shares (4,200 shares)
— (147)— — — (147)
Restricted stock grants, net of forfeitures and withheld for taxes (27,424 shares)
71 — (479)— — (408)
Compensation expense for restricted shares— — 534 — — 534 
Cash dividends declared ($0.30 per share)
— — — (2,547)— (2,547)
BALANCE – March 31, 202422,315 (11,101)97,818 217,712 (46,824)279,920 
Net income— — — 11,279 — 11,279 
Other comprehensive income, net of taxes— — — — 425 425 
Common stock shares issued (6,054 shares)
15 — 171 — — 186 
Compensation expense for restricted shares— — 241 — — 241 
Cash dividends declared ($0.32 per share)
— — — (2,720)— (2,720)
BALANCE – June 30, 202422,330 (11,101)98,230 226,271 (46,399)289,331 
Net income— — — 7,204 — 7,204 
Other comprehensive income, net of taxes— — — — 12,564 12,564 
Common stock shares issued (5,638 shares)
14 — 223 — — 237 
Repurchased shares (2,642 shares)
— (102)— — — (102)
Compensation expense for restricted shares— — 244 — — 244 
Cash dividends declared ($0.32 per share)
— — — (2,723)— (2,723)
BALANCE – September 30, 2024$22,344 $(11,203)$98,697 $230,752 $(33,835)$306,755 

























7
ACNB CORPORATION
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (UNAUDITED)
Nine Months Ended September 30, 2023
(Dollars in thousands, except per share data)Common StockTreasury StockAdditional Paid-in CapitalRetained
Earnings		Accumulated
Other
Comprehensive
Loss		Total
Stockholders’
Equity
BALANCE – January 1, 2023$22,086 $(8,927)$96,022 $193,873 $(58,012)$245,042 
Cumulative effect for adoption of Topic 326, net of tax— — — (2,368)— (2,368)
Net income— — — 9,023 — 9,023 
Other comprehensive income, net of taxes— — — — 6,052 6,052 
Common stock shares issued (5,889 shares)
15 — 173 — — 188 
Repurchased shares (850 shares)
— (29)— — — (29)
Restricted stock grants, net of forfeitures and withheld for taxes (43,074 shares)
97 — (97)— — — 
Compensation expense for restricted shares— — 317 — — 317 
Cash dividends declared ($0.28 per share)
— — — (2,384)— (2,384)
BALANCE – March 31, 202322,198 (8,956)96,415 198,144 (51,960)255,841 
Net income— — — 9,524 — 9,524 
Other comprehensive loss, net of taxes— — — — (6,092)(6,092)
Common stock shares issued (5,526 shares)
14 — 171 — — 185 
Cash dividends declared ($0.28 per share)
— — — (2,389)— (2,389)
BALANCE – June 30, 202322,212 (8,956)96,586 205,279 (58,052)257,069 
Net income— — — 9,044 — 9,044 
Other comprehensive loss, net of taxes— — — — (6,715)(6,715)
Common stock shares issued (5,165 shares)
12 — 158 — — 170 
Repurchased shares (46,378 shares)
— (1,546)— — — (1,546)
Cash dividends declared ($0.28 per share)
— — — (2,384)— (2,384)
BALANCE – September 30, 2023$22,224 $(10,502)$96,744 $211,939 $(64,767)$255,638 

The accompanying notes are an integral part of the Consolidated Financial Statements.
8
ACNB CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
Nine Months Ended September 30,
(In thousands)20242023
CASH FLOWS FROM OPERATING ACTIVITIES  
Net income$25,251 $27,591 
Adjustments to reconcile net income to net cash provided by operating activities:  
Gain on sales of loans originated for sale(194)(31)
Gain on sales of assets held for sale— (337)
Earnings on investment in bank-owned life insurance(1,473)(1,399)
(Gain) loss on sales or calls of securities(69)739 
(Gain) loss on equity securities(19)22 
Restricted stock compensation expense1,019 317 
Depreciation and amortization2,268 2,559 
(Reversal of) provision for credit losses and unfunded commitments(3,056)300 
Net amortization of investment securities premiums1,300 494 
Decrease (increase) in interest receivable93 (812)
Increase in interest payable737 397 
Mortgage loans originated for sale(9,010)(1,191)
Proceeds from sales of loans originated for sale8,404 1,345 
Decrease in other assets10,954 1,414 
Increase in deferred tax asset(4,144)(4,436)
Increase in other liabilities2,015 5,019 
Net Cash Provided by Operating Activities34,076 31,991 
CASH FLOWS FROM INVESTING ACTIVITIES  
Proceeds from calls/maturities of investment securities held to maturity554 904 
Proceeds from calls/maturities of investment securities available for sale31,783 26,375 
Proceeds from sales of investment securities available for sale14,336 78,624 
Proceeds from sale of equity securities— 591 
Purchase of restricted investment in bank stocks(1,176)(3,848)
Net increase in loans(49,193)(77,486)
Acquisition of insurance books of business/agency— (174)
Capital expenditures(587)(174)
Proceeds from sales of assets held for sale— 3,730 
Net Cash (Used in) Provided by Investing Activities(4,283)28,542 
CASH FLOWS FROM FINANCING ACTIVITIES  
Net decrease in noninterest-bearing deposits(36,831)(29,519)
Net decrease in interest-bearing deposits(33,665)(218,097)
Net decrease in short-term borrowings(19,113)(8,848)
Proceeds from long-term borrowings60,000 100,000 
Dividends paid(7,990)(7,157)
Common stock repurchased(249)(1,575)
Common stock issued, net of restricted stock forfeitures and withheld for taxes189 543 
Net Cash Used In Financing Activities(37,659)(164,653)
Net Decrease in Cash and Cash Equivalents(7,866)(104,120)
CASH AND CASH EQUIVALENTS — BEGINNING65,958 168,161 
CASH AND CASH EQUIVALENTS — ENDING$58,092 $64,041 
Supplemental disclosures of cash flow information
Cash paid for interest$16,848 $3,717 
Cash paid for income taxes4,175 7,350 

 The accompanying notes are an integral part of the Consolidated Financial Statements.
9
ACNB CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note 1 -    Basis of Presentation and Nature of Operations
 
ACNB Corporation, headquartered in Gettysburg, Pennsylvania, provides banking, insurance, and financial services to businesses and consumers through its wholly-owned subsidiaries, ACNB Bank and ACNB Insurance Services. The Bank engages in full-service commercial and consumer banking and wealth management services, including trust and retail brokerage, through its 27 community banking offices, including 18 community banking office locations in Adams, Cumberland, Franklin, Lancaster and York Counties, Pennsylvania, and nine community banking office locations in Carroll and Frederick Counties, Maryland. There are also loan production offices in York, Pennsylvania, and Hunt Valley, Maryland.

ACNB Insurance Services is a full-service insurance agency based in Westminster, Maryland, with additional locations in Jarrettsville, Maryland, and Gettysburg, Pennsylvania. The agency offers a broad range of property, casualty, health, life and disability insurance to both individual and commercial clients.

The accompanying unaudited Consolidated Financial Statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts of assets and liabilities as of the date of the financial statements as well as revenues and expenses during the period. Actual results could differ from those estimates. In the opinion of management, the accompanying unaudited Consolidated Financial Statements contain all adjustments necessary for a fair presentation. All such adjustments are of a normal recurring nature. These Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and the notes included in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2023. The Corporation evaluates subsequent events through the filing date of this Form 10-Q with the SEC. The results of operations for the three and nine month periods ended September 30, 2024, are not necessarily indicative of the results to be expected for the full year.

Certain reclassifications have been made to the prior period financial statements to conform to the current period presentation. Reclassifications had no material effect on prior year net income or stockholders’ equity.

Pending Merger

On July 23, 2024, ACNB entered into an Agreement and Plan of Merger with Traditions Bancorp, Inc., holding company for Traditions Bank, York, Pennsylvania, whereby ACNB will acquire Traditions and Traditions Bank in an all-stock transaction. Pursuant to the terms of the Definitive Agreement, Traditions shareholders will receive 0.7300 shares of ACNB common stock for each share of Traditions common stock that they own as of the closing date. Based on the 20-day Volume Weighted Average Price of ACNB common stock as of July 19, 2024, the transaction is valued at $73.5 million or $26.43 per share.

As of September 30, 2024 and December 31, 2023, Traditions had total assets of $860.0 million and $840.1 million, respectively, total loans of $683.2 million and $668.8 million, respectively, and total deposits of $740.0 million and $731.1 million, respectively. Common shares outstanding totaled 2,754,062 and 2,736,544 at September 30, 2024 and December 31, 2023, respectively. Traditions Bank operates eight full-service branches in South Central Pennsylvania. The transaction is subject to regulatory approvals and satisfaction of customary closing conditions, including approval from ACNB and Traditions shareholders. Currently, the transaction is expected to close in the first quarter of 2025.

Significant Accounting Policies

The significant accounting policies used in preparation of the Consolidated Financial Statements are disclosed in the Corporation’s 2023 Annual Report on Form 10-K. Those significant accounting policies are unchanged at September 30, 2024.

Recently Issued Accounting Standards

In December 2022, the FASB issued ASU 2022-06, “Deferral of the Sunset Date of Reference Rate Reform (Topic 848)”. This ASU extends the sunset date of ASC Topic 848 (Reference Rate Reform) to December 31, 2024, in response to the United Kingdom’s FCA extension of the intended cessation date of LIBOR in the United States. The Corporation evaluated the impact of this standard, and believes that its adoption will not have a material impact on the Corporation’s Consolidated Financial Statements.
In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280)”. The amendments in this ASU are expected to improve financial reporting by requiring disclosure of incremental segment information on an annual and interim
10
basis for all public entities to enable investors to develop more decision-useful financial analyses. The amendments of ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The amendments in ASU 2023-07 should be applied retrospectively to all periods presented on the financial statements. The Corporation adopted the amendments of ASU 2023-07 related to annual disclosure requirements effective January 1, 2024, and will present any newly required annual disclosures in its Annual Report on Form 10-K for the year ending December 31, 2024 and intends to adopt the amendments of ASU 2023-07 related to interim disclosure requirements effective January 1, 2025, and will present any newly required interim disclosures beginning with its Quarterly Report on Form 10-Q for the period ending March 31, 2025. Adoption of this standard is not expected to have a material impact on the Corporation’s Consolidated Financial Statements.
In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740)”. This ASU is intended to improve the disclosures for income taxes to address requests from investors, lenders, creditors and other allocators of capital that use the financial statements to make capital allocation decisions. The amendments in ASU 2023-09 will require consistent categories and greater disaggregation of information in the rate reconciliation disclosure as well as disclosure of income taxes paid disaggregated by jurisdiction. The amendments of ASU 2023-09 are effective for annual periods beginning after December 15, 2024, and early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The Corporation intends to adopt the amendments of ASU 2023-09 effective January 1, 2025, and will include the required disclosures in its Annual Report on Form 10-K for the year ending December 31, 2025. The Corporation is currently evaluating the impact of this standard, and believes that its adoption will not have a material impact on the Corporation’s Consolidated Financial Statements.

Note 2 -    Earnings Per Share and Restricted Stock
 
The Corporation has a simple capital structure. Basic earnings per share of common stock is calculated as net income available to common shareholders divided by the weighted average number of shares outstanding less unvested restricted stock at the end of the period. Diluted earnings per share is calculated as net income available to common shareholders divided by the weighted average number of shares outstanding.

Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Weighted average shares outstanding (basic)8,507,140 8,517,917 8,500,860 8,518,006 
Dilutive effect of unvested shares38,438 33,628 31,831 26,726 
Weighted average shares outstanding (diluted)8,545,578 8,551,545 8,532,691 8,544,732 
Per share:
Basic$0.85 $1.06 $2.97 $3.24 
Diluted0.84 1.06 2.96 3.23 

There were no antidilutive instruments at September 30, 2024 and 2023.

Stock Incentive Plan

On May 1, 2018, shareholders approved and ratified the ACNB Corporation 2018 Omnibus Stock Incentive Plan, effective as of March 20, 2018, in which awards shall not exceed, in the aggregate, 400,000 shares of common stock, plus any shares that were authorized, but not issued, under the ACNB Corporation 2009 Restricted Stock Plan. The ACNB Corporation 2009 Restricted Stock Plan expired by its own terms after 10 years on February 24, 2019. No further shares may be issued under this plan. The remaining 174,055 shares were transferred to the ACNB Corporation 2018 Omnibus Stock Incentive Plan.

As of September 30, 2024, 138,019 shares were issued under this plan, of which 38,438 were unvested. Plan expense is recognized over the vesting period of the stock issued and resulted in $244 thousand and $265 thousand of compensation expense during the three months ended September 30, 2024 and 2023, respectively. Compensation expense recognized during both the nine months ended September 30, 2024 and 2023 was $1.0 million.

Share Repurchase Plan
On October 24, 2022, the Corporation announced that the Board of Directors approved on October 18, 2022, a plan to repurchase, in open market and privately negotiated transactions, up to 255,575, or approximately 3%, of the outstanding shares
11
of the Corporation’s common stock. This new common stock repurchase program replaces and supersedes any and all earlier announced repurchase plans. During the three and nine months ended September 30, 2024 the Corporation repurchased 2,642 and 6,842 shares, respectively. There were 67,908 treasury shares purchased under this plan through September 30, 2024.

Note 3 - Investment Securities
 
Fair value of equity securities with readily determinable fair values at September 30, 2024 and December 31, 2023, are as follows:
(In thousands)Fair Value at Beginning of PeriodSales/reclassificationGains (Losses)Losses on
sales of securities		Fair Value
at End of Period
Nine Months Ended September 30, 2024
CRA Mutual Fund$928 $— $19 $— $947 
Twelve Months Ended December 31, 2023
CRA Mutual Fund$915 $— $13 $— $928 
Canapi Ventures SBIC Fund206 206 — — — 
Stock in other banks598 592 5 (11)— 
$1,719 $798 $18 $(11)$928 
12

Amortized cost and fair value of securities were as follows:
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
September 30, 2024
Available for Sale    
U.S. Government and agencies$166,194 $— $13,985 $152,209 
Collateralized mortgage obligations40,889 — 2,822 38,067 
Residential mortgage-backed securities164,113 43 15,088 149,068 
Commercial mortgage-backed securities65,566 803 3,472 62,897 
Corporate bonds18,102 — 2,264 15,838 
$454,864 $846 $37,631 $418,079 
Held to Maturity
State and municipal$62,665 $— $5,477 57,188 
Residential mortgage-backed securities1,913 — 63 1,850 
$64,578 $— $5,540 $59,038 
December 31, 2023    
Available for Sale
U.S. Government and agencies$176,458 $— $19,663 $156,795 
Collateralized mortgage obligations45,189 — 4,105 41,084 
Residential mortgage-backed securities178,441 19 19,630 158,830 
Commercial mortgage-backed securities69,498 344 4,552 65,290 
Corporate bonds32,326 202 2,834 29,694 
 $501,912 $565 $50,784 $451,693 
Held to Maturity
State and municipal$62,133 $— $5,419 $56,714 
Residential mortgage-backed securities2,467 — 124 2,343 
$64,600 $— $5,543 $59,057 


13
The following table shows the Corporation’s investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2024, and December 31, 2023:
 Less than 12 Months12 Months or MoreTotal
(In thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
September 30, 2024      
Available for Sale      
U.S. Government and agencies$— $— $152,209 $13,985 $152,209 $13,985 
Collateralized mortgage obligations— — 38,067 2,822 38,067 2,822 
Residential mortgage-backed securities— — 146,297 15,088 146,297 15,088 
Commercial mortgage-backed securities— — 30,174 3,472 30,174 3,472 
Corporate bonds— — 15,838 2,264 15,838 2,264 
$— $— $382,585 $37,631 $382,585 $37,631 
Held to Maturity