10-Q 1 acnb-20240331.htm 10-Q acnb-20240331
false000071557912/312024Q1xbrli:sharesiso4217:USDiso4217:USDxbrli:sharesacnb:bankxbrli:pureacnb:segment00007155792024-01-012024-03-3100007155792024-05-0100007155792024-03-3100007155792023-12-3100007155792023-01-012023-03-310000715579acnb:FinancingReceivableExcludingUnfundedCommitmentsMember2024-01-012024-03-310000715579acnb:FinancingReceivableExcludingUnfundedCommitmentsMember2023-01-012023-03-310000715579us-gaap:UnfundedLoanCommitmentMember2024-01-012024-03-310000715579us-gaap:UnfundedLoanCommitmentMember2023-01-012023-03-310000715579us-gaap:DepositAccountMember2024-01-012024-03-310000715579us-gaap:DepositAccountMember2023-01-012023-03-310000715579us-gaap:FiduciaryAndTrustMember2024-01-012024-03-310000715579us-gaap:FiduciaryAndTrustMember2023-01-012023-03-310000715579acnb:ATMServiceChargesandDebitCardTransactionsMember2024-01-012024-03-310000715579acnb:ATMServiceChargesandDebitCardTransactionsMember2023-01-012023-03-310000715579us-gaap:MortgageBankingMember2024-01-012024-03-310000715579us-gaap:MortgageBankingMember2023-01-012023-03-310000715579acnb:CRAMutualFundMember2024-01-012024-03-310000715579us-gaap:CommonStockMember2023-12-310000715579us-gaap:TreasuryStockCommonMember2023-12-310000715579us-gaap:AdditionalPaidInCapitalMember2023-12-310000715579us-gaap:RetainedEarningsMember2023-12-310000715579us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310000715579us-gaap:RetainedEarningsMember2024-01-012024-03-310000715579us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-03-310000715579acnb:DividendReinvestmentPlanMember2024-01-012024-03-310000715579us-gaap:CommonStockMember2024-01-012024-03-310000715579us-gaap:AdditionalPaidInCapitalMember2024-01-012024-03-310000715579acnb:StockRepurchasePlanMember2024-01-012024-03-310000715579us-gaap:TreasuryStockCommonMember2024-01-012024-03-310000715579us-gaap:CommonStockMember2024-03-310000715579us-gaap:TreasuryStockCommonMember2024-03-310000715579us-gaap:AdditionalPaidInCapitalMember2024-03-310000715579us-gaap:RetainedEarningsMember2024-03-310000715579us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-03-310000715579us-gaap:CommonStockMember2022-12-310000715579us-gaap:TreasuryStockCommonMember2022-12-310000715579us-gaap:AdditionalPaidInCapitalMember2022-12-310000715579us-gaap:RetainedEarningsMember2022-12-310000715579us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-3100007155792022-12-310000715579us-gaap:RetainedEarningsMember2023-01-012023-03-310000715579us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310000715579acnb:DividendReinvestmentPlanMember2023-01-012023-03-310000715579us-gaap:CommonStockMember2023-01-012023-03-310000715579us-gaap:AdditionalPaidInCapitalMember2023-01-012023-03-310000715579acnb:StockRepurchasePlanMember2023-01-012023-03-310000715579us-gaap:TreasuryStockCommonMember2023-01-012023-03-310000715579us-gaap:CommonStockMember2023-03-310000715579us-gaap:TreasuryStockCommonMember2023-03-310000715579us-gaap:AdditionalPaidInCapitalMember2023-03-310000715579us-gaap:RetainedEarningsMember2023-03-310000715579us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-3100007155792023-03-310000715579acnb:AdamsCumberlandFranklinAndYorkCountiesPennsylvaniaMember2024-01-012024-03-310000715579acnb:CarrollAndFrederickCountiesMarylandMember2024-01-012024-03-310000715579acnb:ACNBCorporation2018OmnibusStockIncentivePlanMember2018-03-200000715579acnb:ACNBCorporation2009RestrictedStockPlanMember2019-02-242019-02-2400007155792019-03-080000715579us-gaap:RestrictedStockMemberacnb:ACNBCorporation2018OmnibusStockIncentivePlanMember2024-03-310000715579us-gaap:RestrictedStockMemberacnb:ACNBCorporation2018OmnibusStockIncentivePlanMember2024-01-012024-03-310000715579us-gaap:RestrictedStockMemberacnb:ACNBCorporation2018OmnibusStockIncentivePlanMember2023-01-012023-03-310000715579acnb:StockRepurchasePlanMember2022-10-180000715579acnb:StockRepurchasePlanMember2022-10-242024-03-310000715579acnb:CRAMutualFundMember2023-12-310000715579acnb:CRAMutualFundMember2024-03-310000715579acnb: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:USTreasuryAndGovernmentMember2024-03-310000715579us-gaap:MortgageBackedSecuritiesMember2024-03-310000715579us-gaap:ResidentialMortgageBackedSecuritiesMember2024-03-310000715579us-gaap:CommercialMortgageBackedSecuritiesMember2024-03-310000715579us-gaap:CorporateDebtSecuritiesMember2024-03-310000715579us-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000715579us-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:CommercialRealEstatePortfolioSegmentMember2024-03-310000715579us-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000715579us-gaap:ResidentialPortfolioSegmentMember2024-03-310000715579us-gaap:ResidentialPortfolioSegmentMember2023-12-310000715579us-gaap:CommercialPortfolioSegmentMember2024-03-310000715579us-gaap:CommercialPortfolioSegmentMember2023-12-310000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMember2024-03-310000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-12-310000715579us-gaap:ConstructionLoansMember2024-03-310000715579us-gaap:ConstructionLoansMember2023-12-310000715579us-gaap:ConsumerPortfolioSegmentMember2024-03-310000715579us-gaap:ConsumerPortfolioSegmentMember2023-12-310000715579us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-03-310000715579us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000715579us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-03-310000715579us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-03-310000715579us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000715579us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-03-310000715579us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2024-03-310000715579us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-03-310000715579us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-03-310000715579us-gaap:FinancialAssetNotPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2024-03-310000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-03-310000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-03-310000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-03-310000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-03-310000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-03-310000715579us-gaap:FinancingReceivables60To89DaysPastDueMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2024-03-310000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-03-310000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-03-310000715579us-gaap:FinancialAssetNotPastDueMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2024-03-310000715579us-gaap:ConstructionLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-03-310000715579us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConstructionLoansMember2024-03-310000715579us-gaap:ConstructionLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-03-310000715579us-gaap:FinancialAssetPastDueMemberus-gaap:ConstructionLoansMember2024-03-310000715579us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConstructionLoansMember2024-03-310000715579us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-03-310000715579us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2024-03-310000715579us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-03-310000715579us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-03-310000715579us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000715579us-gaap:FinancingReceivables30To59DaysPastDueMember2024-03-310000715579us-gaap:FinancingReceivables60To89DaysPastDueMember2024-03-310000715579us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-03-310000715579us-gaap:FinancialAssetPastDueMember2024-03-310000715579us-gaap:FinancialAssetNotPastDueMember2024-03-310000715579us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310000715579us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000715579us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000715579us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2023-12-310000715579us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000715579us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310000715579us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2023-12-310000715579us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000715579us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2023-12-310000715579us-gaap:FinancialAssetNotPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2023-12-310000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2023-12-310000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310000715579us-gaap:FinancingReceivables60To89DaysPastDueMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-12-310000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2023-12-310000715579us-gaap:FinancialAssetNotPastDueMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-12-310000715579us-gaap:ConstructionLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310000715579us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConstructionLoansMember2023-12-310000715579us-gaap:ConstructionLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000715579us-gaap:FinancialAssetPastDueMemberus-gaap:ConstructionLoansMember2023-12-310000715579us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConstructionLoansMember2023-12-310000715579us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310000715579us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310000715579us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000715579us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2023-12-310000715579us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000715579us-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310000715579us-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310000715579us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000715579us-gaap:FinancialAssetPastDueMember2023-12-310000715579us-gaap:FinancialAssetNotPastDueMember2023-12-310000715579acnb:BusinessAssetsMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000715579us-gaap:RealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-03-310000715579us-gaap:ResidentialPortfolioSegmentMemberacnb:BusinessAssetsMember2024-03-310000715579us-gaap:RealEstateMemberus-gaap:ResidentialPortfolioSegmentMember2024-03-310000715579us-gaap:CommercialPortfolioSegmentMemberacnb:BusinessAssetsMember2024-03-310000715579us-gaap:RealEstateMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000715579acnb:BusinessAssetsMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2024-03-310000715579us-gaap:RealEstateMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2024-03-310000715579acnb:BusinessAssetsMember2024-03-310000715579us-gaap:RealEstateMember2024-03-310000715579acnb:BusinessAssetsMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000715579us-gaap:RealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-12-310000715579us-gaap:ResidentialPortfolioSegmentMemberacnb:BusinessAssetsMember2023-12-310000715579us-gaap:RealEstateMemberus-gaap:ResidentialPortfolioSegmentMember2023-12-310000715579us-gaap:CommercialPortfolioSegmentMemberacnb:BusinessAssetsMember2023-12-310000715579us-gaap:RealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000715579acnb:BusinessAssetsMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-12-310000715579us-gaap:RealEstateMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-12-310000715579acnb:BusinessAssetsMember2023-12-310000715579us-gaap:RealEstateMember2023-12-310000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:ExtendedMaturityMember2024-03-310000715579us-gaap:CommercialPortfolioSegmentMemberacnb:FinancialAsset3089DaysPastDueMemberus-gaap:ExtendedMaturityMember2024-03-310000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:ExtendedMaturityMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-03-310000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:ExtendedMaturityMember2024-03-310000715579us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMemberacnb:InternallyRiskRatedMember2024-03-310000715579us-gaap:SpecialMentionMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberacnb:InternallyRiskRatedMember2024-03-310000715579us-gaap:SubstandardMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberacnb:InternallyRiskRatedMember2024-03-310000715579us-gaap:CommercialRealEstatePortfolioSegmentMemberacnb:InternallyRiskRatedMember2024-03-310000715579us-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMemberacnb:InternallyRiskRatedMember2024-03-310000715579us-gaap:SpecialMentionMemberus-gaap:ResidentialPortfolioSegmentMemberacnb:InternallyRiskRatedMember2024-03-310000715579us-gaap:SubstandardMemberus-gaap:ResidentialPortfolioSegmentMemberacnb:InternallyRiskRatedMember2024-03-310000715579us-gaap:ResidentialPortfolioSegmentMemberacnb:InternallyRiskRatedMember2024-03-310000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMemberacnb:InternallyRiskRatedMember2024-03-310000715579us-gaap:SpecialMentionMemberus-gaap:CommercialPortfolioSegmentMemberacnb:InternallyRiskRatedMember2024-03-310000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMemberacnb:InternallyRiskRatedMember2024-03-310000715579us-gaap:CommercialPortfolioSegmentMemberacnb:InternallyRiskRatedMember2024-03-310000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMemberus-gaap:PassMemberacnb:InternallyRiskRatedMember2024-03-310000715579us-gaap:SpecialMentionMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMemberacnb:InternallyRiskRatedMember2024-03-310000715579us-gaap:SubstandardMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMemberacnb:InternallyRiskRatedMember2024-03-310000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMemberacnb:InternallyRiskRatedMember2024-03-310000715579us-gaap:ConstructionLoansMemberus-gaap:PassMemberacnb:InternallyRiskRatedMember2024-03-310000715579us-gaap:SpecialMentionMemberus-gaap:ConstructionLoansMemberacnb:InternallyRiskRatedMember2024-03-310000715579us-gaap:SubstandardMemberus-gaap:ConstructionLoansMemberacnb:InternallyRiskRatedMember2024-03-310000715579us-gaap:ConstructionLoansMemberacnb:InternallyRiskRatedMember2024-03-310000715579acnb:PerformanceRatedMemberus-gaap:ResidentialPortfolioSegmentMemberacnb:PerformingLoansMember2024-03-310000715579acnb:NonperformingLoansMemberacnb:PerformanceRatedMemberus-gaap:ResidentialPortfolioSegmentMember2024-03-310000715579acnb:PerformanceRatedMemberus-gaap:ResidentialPortfolioSegmentMember2024-03-310000715579acnb:PerformanceRatedMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMemberacnb:PerformingLoansMember2024-03-310000715579acnb:NonperformingLoansMemberacnb:PerformanceRatedMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2024-03-310000715579acnb:PerformanceRatedMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2024-03-310000715579acnb:PerformanceRatedMemberus-gaap:ConsumerPortfolioSegmentMemberacnb:PerformingLoansMember2024-03-310000715579acnb:PerformanceRatedMemberus-gaap:ConsumerPortfolioSegmentMember2024-03-310000715579acnb:PerformanceRatedMemberus-gaap:ConsumerPortfolioSegmentMember2024-01-012024-03-310000715579acnb:PerformanceRatedMemberus-gaap:ConstructionLoansMemberacnb:PerformingLoansMember2024-03-310000715579acnb:PerformanceRatedMemberus-gaap:ConstructionLoansMember2024-03-310000715579us-gaap:PassMember2024-03-310000715579us-gaap:SpecialMentionMember2024-03-310000715579us-gaap:SubstandardMember2024-03-310000715579acnb:PerformingLoansMember2024-03-310000715579acnb:NonperformingLoansMember2024-03-310000715579us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:SpecialMentionMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:SubstandardMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:CommercialRealEstatePortfolioSegmentMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:SpecialMentionMemberus-gaap:ResidentialPortfolioSegmentMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:SubstandardMemberus-gaap:ResidentialPortfolioSegmentMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:ResidentialPortfolioSegmentMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:SpecialMentionMemberus-gaap:CommercialPortfolioSegmentMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:CommercialPortfolioSegmentMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:CommercialPortfolioSegmentMemberacnb:InternallyRiskRatedMember2023-01-012023-12-310000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMemberus-gaap:PassMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:SpecialMentionMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:SubstandardMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMemberacnb:InternallyRiskRatedMember2023-12-310000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:ConstructionLoansMemberus-gaap:PassMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:SpecialMentionMemberus-gaap:ConstructionLoansMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:SubstandardMemberus-gaap:ConstructionLoansMemberacnb:InternallyRiskRatedMember2023-12-310000715579us-gaap:ConstructionLoansMemberacnb:InternallyRiskRatedMember2023-12-310000715579acnb:PerformanceRatedMemberus-gaap:ResidentialPortfolioSegmentMemberacnb:PerformingLoansMember2023-12-310000715579acnb:NonperformingLoansMemberacnb:PerformanceRatedMemberus-gaap:ResidentialPortfolioSegmentMember2023-12-310000715579acnb:PerformanceRatedMemberus-gaap:ResidentialPortfolioSegmentMember2023-12-310000715579acnb:PerformanceRatedMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMemberacnb:PerformingLoansMember2023-12-310000715579acnb:NonperformingLoansMemberacnb:PerformanceRatedMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-12-310000715579acnb:PerformanceRatedMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-12-310000715579acnb:PerformanceRatedMemberus-gaap:ConsumerPortfolioSegmentMemberacnb:PerformingLoansMember2023-12-310000715579acnb:NonperformingLoansMemberacnb:PerformanceRatedMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310000715579acnb:PerformanceRatedMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310000715579acnb:PerformanceRatedMemberus-gaap:ConsumerPortfolioSegmentMember2023-01-012023-12-310000715579acnb:PerformanceRatedMemberus-gaap:ConstructionLoansMemberacnb:PerformingLoansMember2023-12-310000715579acnb:PerformanceRatedMemberus-gaap:ConstructionLoansMember2023-12-310000715579us-gaap:PassMember2023-12-310000715579us-gaap:SpecialMentionMember2023-12-310000715579us-gaap:SubstandardMember2023-12-310000715579acnb:PerformingLoansMember2023-12-310000715579acnb:NonperformingLoansMember2023-12-310000715579us-gaap:UnallocatedFinancingReceivablesMember2023-12-310000715579us-gaap:CommercialRealEstatePortfolioSegmentMember2024-01-012024-03-310000715579us-gaap:ResidentialPortfolioSegmentMember2024-01-012024-03-310000715579us-gaap:CommercialPortfolioSegmentMember2024-01-012024-03-310000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMember2024-01-012024-03-310000715579us-gaap:ConstructionLoansMember2024-01-012024-03-310000715579us-gaap:ConsumerPortfolioSegmentMember2024-01-012024-03-310000715579us-gaap:UnallocatedFinancingReceivablesMember2024-01-012024-03-310000715579acnb:FinancingReceivableExcludingUnfundedCommitmentsMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-01-012024-03-310000715579us-gaap:ResidentialPortfolioSegmentMemberacnb:FinancingReceivableExcludingUnfundedCommitmentsMember2024-01-012024-03-310000715579us-gaap:CommercialPortfolioSegmentMemberacnb:FinancingReceivableExcludingUnfundedCommitmentsMember2024-01-012024-03-310000715579acnb:FinancingReceivableExcludingUnfundedCommitmentsMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2024-01-012024-03-310000715579acnb:FinancingReceivableExcludingUnfundedCommitmentsMemberus-gaap:ConstructionLoansMember2024-01-012024-03-310000715579us-gaap:ConsumerPortfolioSegmentMemberacnb:FinancingReceivableExcludingUnfundedCommitmentsMember2024-01-012024-03-310000715579us-gaap:UnallocatedFinancingReceivablesMemberacnb:FinancingReceivableExcludingUnfundedCommitmentsMember2024-01-012024-03-310000715579us-gaap:UnallocatedFinancingReceivablesMember2024-03-310000715579us-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:CommercialRealEstatePortfolioSegmentMember2023-03-310000715579srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ResidentialPortfolioSegmentMember2023-03-310000715579srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:CommercialPortfolioSegmentMember2023-03-310000715579srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-03-310000715579srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ConstructionLoansMember2023-03-310000715579srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ConsumerPortfolioSegmentMember2023-03-310000715579us-gaap:UnallocatedFinancingReceivablesMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2023-03-310000715579srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2023-03-310000715579us-gaap:CommercialRealEstatePortfolioSegmentMember2023-01-012023-03-310000715579us-gaap:ResidentialPortfolioSegmentMember2023-01-012023-03-310000715579us-gaap:CommercialPortfolioSegmentMember2023-01-012023-03-310000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-01-012023-03-310000715579us-gaap:ConstructionLoansMember2023-01-012023-03-310000715579us-gaap:ConsumerPortfolioSegmentMember2023-01-012023-03-310000715579us-gaap:UnallocatedFinancingReceivablesMember2023-01-012023-03-310000715579acnb:FinancingReceivableExcludingUnfundedCommitmentsMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2023-01-012023-03-310000715579us-gaap:ResidentialPortfolioSegmentMemberacnb:FinancingReceivableExcludingUnfundedCommitmentsMember2023-01-012023-03-310000715579us-gaap:CommercialPortfolioSegmentMemberacnb:FinancingReceivableExcludingUnfundedCommitmentsMember2023-01-012023-03-310000715579acnb:FinancingReceivableExcludingUnfundedCommitmentsMemberacnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-01-012023-03-310000715579acnb:FinancingReceivableExcludingUnfundedCommitmentsMemberus-gaap:ConstructionLoansMember2023-01-012023-03-310000715579us-gaap:ConsumerPortfolioSegmentMemberacnb:FinancingReceivableExcludingUnfundedCommitmentsMember2023-01-012023-03-310000715579us-gaap:UnallocatedFinancingReceivablesMemberacnb:FinancingReceivableExcludingUnfundedCommitmentsMember2023-01-012023-03-310000715579us-gaap:CommercialRealEstatePortfolioSegmentMember2023-03-310000715579us-gaap:ResidentialPortfolioSegmentMember2023-03-310000715579us-gaap:CommercialPortfolioSegmentMember2023-03-310000715579acnb:HomeEquityLinesOfCreditPortfolioSegmentMember2023-03-310000715579us-gaap:ConstructionLoansMember2023-03-310000715579us-gaap:ConsumerPortfolioSegmentMember2023-03-310000715579us-gaap:UnallocatedFinancingReceivablesMember2023-03-310000715579acnb:LessThan250000Member2024-03-310000715579acnb:MoreThan250000Member2024-03-310000715579us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2024-03-310000715579us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2023-12-310000715579us-gaap:FederalHomeLoanBankAdvancesMember2024-03-310000715579us-gaap:FederalHomeLoanBankAdvancesMember2023-12-310000715579us-gaap:SubordinatedDebtMemberacnb:TrustPreferredSubordinatedDebtFCBIMember2024-03-310000715579us-gaap:SubordinatedDebtMemberacnb:TrustPreferredSubordinatedDebtFCBIMember2023-12-310000715579us-gaap:SubordinatedDebtMember2024-03-310000715579us-gaap:SubordinatedDebtMember2023-12-310000715579us-gaap:SubordinatedDebtMemberacnb:TrustPreferredSubordinatedDebtFCBIMemberacnb:SecuredOvernightFinancingRateSOFRMember2024-01-012024-03-310000715579us-gaap:SubordinatedDebtMemberacnb:TrustPreferredSubordinatedDebtFCBIMemberacnb:SecuredOvernightFinancingRateSOFRMember2024-03-150000715579us-gaap:SubordinatedDebtMember2021-03-300000715579us-gaap:SubordinatedDebtMemberacnb:SecuredOvernightFinancingRateSOFRMember2021-03-302021-03-300000715579us-gaap:SubordinatedDebtMember2021-03-302021-03-300000715579us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2024-03-310000715579us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-03-310000715579us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-03-310000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2024-03-310000715579us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2024-03-310000715579us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2024-03-310000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2024-03-310000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2024-03-310000715579us-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2024-03-310000715579us-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-03-310000715579us-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-03-310000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2024-03-310000715579us-gaap:FairValueInputsLevel1Memberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2024-03-310000715579us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-03-310000715579us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-03-310000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2024-03-310000715579us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-03-310000715579us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-03-310000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-03-310000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-03-310000715579us-gaap:FairValueInputsLevel1Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2024-03-310000715579us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2024-03-310000715579us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-03-310000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2024-03-310000715579acnb:CollateralDependentImpairedLoanMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2024-03-310000715579acnb:CollateralDependentImpairedLoanMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2024-03-310000715579acnb:CollateralDependentImpairedLoanMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2024-03-310000715579acnb:CollateralDependentImpairedLoanMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsNonrecurringMember2024-03-310000715579us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2024-03-310000715579us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2024-03-310000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2024-03-310000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsNonrecurringMember2024-03-310000715579us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000715579us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000715579us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-12-310000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000715579us-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:CollateralizedMortgageObligationsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000715579us-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000715579us-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000715579us-gaap:FairValueInputsLevel1Memberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000715579us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000715579us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000715579us-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:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000715579us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000715579us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000715579acnb:CollateralDependentImpairedLoanMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000715579acnb:CollateralDependentImpairedLoanMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000715579acnb:CollateralDependentImpairedLoanMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000715579acnb:CollateralDependentImpairedLoanMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000715579us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000715579us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000715579us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000715579us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000715579us-gaap:MeasurementInputDiscountRateMemberacnb:CollateralDependentImpairedLoanMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMember2024-03-310000715579us-gaap:MeasurementInputDiscountRateMemberacnb:CollateralDependentImpairedLoanMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMemberus-gaap:FairValueMeasurementsNonrecurringMember2024-03-310000715579us-gaap:MeasurementInputDiscountRateMemberacnb:CollateralDependentImpairedLoanMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2024-03-310000715579acnb:RealEstateAcquiredThroughForeclosureMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2024-03-310000715579us-gaap:MeasurementInputDiscountRateMemberacnb:RealEstateAcquiredThroughForeclosureMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2024-03-310000715579us-gaap:MeasurementInputDiscountRateMemberacnb:CollateralDependentImpairedLoanMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000715579us-gaap:MeasurementInputDiscountRateMemberacnb:CollateralDependentImpairedLoanMemberus-gaap:FairValueInputsLevel3Membersrt:MaximumMemberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000715579us-gaap:MeasurementInputDiscountRateMemberacnb:CollateralDependentImpairedLoanMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000715579acnb:RealEstateAcquiredThroughForeclosureMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000715579us-gaap:MeasurementInputDiscountRateMemberacnb:RealEstateAcquiredThroughForeclosureMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000715579us-gaap:CarryingReportedAmountFairValueDisclosureMember2024-03-310000715579us-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000715579us-gaap:FairValueInputsLevel1Member2024-03-310000715579us-gaap:FairValueInputsLevel2Member2024-03-310000715579us-gaap:FairValueInputsLevel3Member2024-03-310000715579us-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000715579us-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000715579us-gaap:FairValueInputsLevel1Member2023-12-310000715579us-gaap:FairValueInputsLevel2Member2023-12-310000715579us-gaap:FairValueInputsLevel3Member2023-12-310000715579us-gaap:UnsecuredDebtMemberus-gaap:LineOfCreditMember2024-03-310000715579us-gaap:LineOfCreditMember2024-03-310000715579us-gaap:CommitmentsToExtendCreditMember2024-03-310000715579us-gaap:CommitmentsToExtendCreditMember2023-12-310000715579us-gaap:StandbyLettersOfCreditMember2024-03-310000715579us-gaap:StandbyLettersOfCreditMember2023-12-310000715579us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-12-310000715579us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-12-310000715579us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-01-012023-03-310000715579us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-01-012023-03-310000715579us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-03-310000715579us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-03-310000715579us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-12-310000715579us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-12-310000715579us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-01-012024-03-310000715579us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-01-012024-03-310000715579us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-03-310000715579us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-03-310000715579acnb:BankingReportingSegmentMember2024-01-012024-03-310000715579acnb:InsuranceReportingSegmentMember2024-01-012024-03-310000715579acnb:BankingReportingSegmentMember2024-03-310000715579acnb:InsuranceReportingSegmentMember2024-03-310000715579acnb:BankingReportingSegmentMember2023-01-012023-03-310000715579acnb:InsuranceReportingSegmentMember2023-01-012023-03-310000715579acnb:BankingReportingSegmentMember2023-03-310000715579acnb:InsuranceReportingSegmentMember2023-03-31

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 March 31, 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 filerSmaller 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 May 1, 2024, was 8,539,575.



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.



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
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
PPPPaycheck Protection Program
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


PART I - FINANCIAL INFORMATION
 
ACNB CORPORATION
ITEM 1 - FINANCIAL STATEMENTS
CONSOLIDATED STATEMENTS OF CONDITION (UNAUDITED)
(Dollars in thousands, except per share data)March 31,
2024
December 31,
2023
ASSETS  
Cash and due from banks$17,395 $21,442 
Interest-bearing deposits with banks35,740 44,516 
Total Cash and Cash Equivalents53,135 65,958 
Equity securities with readily determinable fair values918 928 
Investment securities available for sale, at estimated fair value425,114 451,693 
Investment securities held to maturity, at amortized cost (fair value $58,084, $59,057)
64,594 64,600 
Loans held for sale88 280 
Total loans, net of unearned income1,664,980 1,627,988 
Less: Allowance for credit losses(20,172)(19,969)
Loans, net1,644,808 1,608,019 
Premises and equipment, net25,916 26,283 
Right of use asset2,447 2,615 
Restricted investment in bank stocks10,877 9,677 
Investment in bank-owned life insurance80,348 79,871 
Investments in low-income housing partnerships971 1,003 
Goodwill44,185 44,185 
Intangible assets, net8,761 9,082 
Foreclosed assets held for resale467 467 
Other assets51,659 54,186 
Total Assets$2,414,288 $2,418,847 
LIABILITIES AND STOCKHOLDERS’ EQUITY  
Deposits:  
Noninterest-bearing$499,583 $500,332 
Interest-bearing1,335,641 1,361,481 
Total Deposits1,835,224 1,861,813 
Short-term borrowings17,303 56,882 
Long-term borrowings255,302 195,292 
Lease liability2,447 2,615 
Allowance for unfunded commitments1,569 1,719 
Other liabilities22,523 23,065 
Total Liabilities2,134,368 2,141,386 
Stockholders’ Equity:  
Preferred stock, $2.50 par value; 20,000,000 shares authorized; no shares outstanding at March 31, 2024 and December 31, 2023, respectively
  
Common stock, $2.50 par value; 20,000,000 shares authorized; 8,928,441 and 8,896,119 shares issued; 8,539,575 and 8,511,453 shares outstanding at March 31, 2024 and December 31, 2023, respectively
22,315 22,231 
Treasury stock, at cost; 388,866 and 384,666 shares at March 31, 2024 and December 31, 2023, respectively
(11,101)(10,954)
Additional paid-in capital97,818 97,602 
Retained earnings217,712 213,491 
Accumulated other comprehensive loss(46,824)(44,909)
Total Stockholders’ Equity279,920 277,461 
Total Liabilities and Stockholders’ Equity$2,414,288 $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 March 31,
(Dollars in thousands, except per share data)20242023
INTEREST AND DIVIDEND INCOME  
Loans, including fees
Taxable$21,470 $18,898 
Tax-exempt319 356 
Securities: 
Taxable2,911 3,286 
Tax-exempt284 314 
Dividends240 41 
Other750 1,014 
Total Interest and Dividend Income25,974 23,909 
INTEREST EXPENSE  
Deposits2,160 473 
Short-term borrowings339 17 
Long-term borrowings2,882 327 
Total Interest Expense5,381 817 
Net Interest Income20,593 23,092 
Provision for credit losses223 97 
(Reversal of) provision for unfunded commitments(151)276 
Net Interest Income after Provisions for Credit Losses and Unfunded Commitments20,521 22,719 
NONINTEREST INCOME  
Insurance commissions2,115 1,902 
Service charges on deposits991 962 
Wealth management962 840 
ATM debit card charges819 823 
Earnings on investment in bank-owned life insurance477 442 
Gain from mortgage loans held for sale48 17 
Net gains (losses) on sales or calls of investment securities69 (193)
Net (losses) gains on equity securities(10)20 
Other196 171 
Total Noninterest Income5,667 4,984 
NONINTEREST EXPENSES  
Salaries and employee benefits11,168 10,442 
Equipment1,729 1,607 
Net occupancy1,130 1,037 
Professional services616 382 
FDIC and regulatory375 249 
Other tax370 337 
Intangible assets amortization321 360 
Supplies and postage191 206 
Marketing and corporate relations88 154 
Other1,674 1,508 
Total Noninterest Expenses17,662 16,282 
Income before Income Taxes8,526 11,421 
Provision for income taxes1,758 2,398 
Net Income$6,768 $9,023 
PER SHARE DATA  
Basic and diluted earnings $0.80 $1.06 

The accompanying notes are an integral part of the Consolidated Financial Statements.
5

ACNB CORPORATION
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)
 
 Three Months Ended March 31,
(Dollars in thousands)20242023
NET INCOME$6,768 $9,023 
OTHER COMPREHENSIVE (LOSS) INCOME   
INVESTMENT SECURITIES  
Unrealized (losses) gains arising during the period, net of income tax (benefit) expense of $(644) and $558, respectively
(2,198)5,136 
Reclassification adjustment for net AFS investment securities gains (losses) included in net income, net of income tax expense (benefit) of $16 and $(45), respectively
53 (146)
Total unrealized (loss) gain on AFS investment securities(2,145)4,990 
Amortization of unrealized losses on AFS investment securities transferred to HTM, net of income taxes of $63 and $223, respectively
215 1,014 
PENSION  
Amortization of pension net loss, transition liability, and prior service cost, net of income taxes of $4 and $50, respectively
15 48 
TOTAL OTHER COMPREHENSIVE (LOSS) INCOME (1,915)6,052 
TOTAL COMPREHENSIVE INCOME $4,853 $15,075 
 
The accompanying notes are an integral part of the Consolidated Financial Statements.



6

ACNB CORPORATION
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (UNAUDITED)
Three Months Ended March 31, 2024 and 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, 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 
Repurchase 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, 2024$22,315 $(11,101)$97,818 $217,712 $(46,824)$279,920 
(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 
Repurchase 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, 2023$22,198 $(8,956)$96,415 $198,144 $(51,960)$255,841 

The accompanying notes are an integral part of the Consolidated Financial Statements.
7

ACNB CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
 Three Months Ended March 31,
(In thousands)20242023
CASH FLOWS FROM OPERATING ACTIVITIES  
Net income$6,768 $9,023 
Adjustments to reconcile net income to net cash provided by operating activities:  
Gain on sales of loans originated for sale(48)(17)
Earnings on investment in bank-owned life insurance(477)(442)
(Gain) loss on sales or calls of securities(69)193 
Loss (gain) on equity securities10 (20)
Restricted stock compensation expense534 317 
Depreciation and amortization766 883 
Provision for credit losses and provision for unfunded commitments72 373 
Net amortization of investment securities premiums414 446 
(Increase) decrease in interest receivable(60)18 
Increase in interest payable682 72 
Mortgage loans originated for sale(1,820)(8,375)
Proceeds from sales of loans originated for sale2,060 8,348 
Decrease in other assets3,589 606 
Increase in deferred tax asset(222)(972)
(Decrease) increase in other liabilities(1,381)4,466 
Net Cash Provided by Operating Activities10,818 14,919 
CASH FLOWS FROM INVESTING ACTIVITIES  
Proceeds from calls/maturities of investment securities held to maturity184 205 
Proceeds from calls/maturities of investment securities available for sale9,225 10,912 
Proceeds from sales of investment securities available for sale14,336 46,612 
Proceeds from sale of equity securities 369 
Redemption of equity securities 40 
Purchase of restricted investment in bank stocks(1,200)(923)
Net (increase) decrease in loans(37,012)5,867 
Capital expenditures(78)(58)
Net Cash Provided by (Used in) Investing Activities(14,545)63,024 
CASH FLOWS FROM FINANCING ACTIVITIES  
Net decrease in noninterest-bearing deposits(749)(694)
Net decrease in interest-bearing deposits(25,840)(142,459)
Net decrease in short-term borrowings(39,579)(11,660)
Proceeds from long-term borrowings60,000 25,000 
Dividends paid(2,547)(2,384)
Common stock repurchased(147)(29)
Common stock issued, net of restricted stock forfeitures and withheld for taxes(234)188 
Net Cash Used In Financing Activities(9,096)(132,038)
Net Decrease in Cash and Cash Equivalents(12,823)(54,095)
CASH AND CASH EQUIVALENTS — BEGINNING65,958 168,161 
CASH AND CASH EQUIVALENTS — ENDING$53,135 $114,066 
Supplemental disclosures of cash flow information:
Cash paid for interest$5,321 $745 
Cash paid for income taxes  
 
The accompanying notes are an integral part of the Consolidated Financial Statements.
8

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 26 community banking offices, including 17 community banking office locations in Adams, Cumberland, Franklin and York Counties, Pennsylvania, and nine community banking office locations in Carroll and Frederick Counties, Maryland. There are also loan production offices in Lancaster and 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 From 10-Q with the SEC. The results of operations for the three month period ended March 31, 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.

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 March 31, 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 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.
9

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 March 31,
20242023
Weighted average shares outstanding (basic)8,493,104 8,511,244 
Dilutive effect of unvested shares18,544 11,732 
Weighted average shares outstanding (diluted)8,511,648 8,522,976 
Per share:
Basic$0.80 $1.06 
Diluted0.80 1.06 

There were no antidilutive instruments at March 31, 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 March 31, 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 $534 thousand and $495 thousand of compensation expense during the three months ended March 31, 2024 and 2023, respectively.

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 of the Corporation’s common stock. This new common stock repurchase program replaces and supersedes any and all earlier announced repurchase plans. There were 65,266 treasury shares purchased under this plan through March 31, 2024.
10

Note 3 - Investment Securities
 
Fair value of equity securities with readily determinable fair values at March 31, 2024 and December 31, 2023, are as follows:

(In thousands)Fair Value at Beginning of PeriodSales/reclassification(Losses) GainsLosses on sales of securitiesFair Value at End of Period
Three Months Ended March 31, 2024
CRA Mutual Fund$928 $ $(10)$ $918 
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 

Amortized cost and fair value of securities were as follows:
(In thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
March 31, 2024
Available for Sale    
U.S. Government and agencies$176,049 $ $20,228 $155,821 
Collateralized mortgage obligations43,892  4,386 39,506 
Residential mortgage-backed securities173,920  21,340 152,580 
Commercial mortgage-backed securities66,136 3 4,485 61,654 
Corporate bonds18,109  2,556 15,553 
$478,106 $3 $52,995 $425,114 
Held to Maturity
State and municipal$62,310 $ $6,387 $55,923 
Residential mortgage-backed securities2,284  123 2,161 
$64,594 $ $6,510 $58,084 
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 


11

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 March 31, 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
March 31, 2024      
Available for Sale      
U.S. Government and agencies$ $ $155,821 $20,228 $155,821 $20,228 
Collateralized mortgage obligations  39,506 4,386 39,506 4,386 
Residential mortgage-backed securities2,737 6 149,843 21,334 152,580 21,340 
Commercial mortgage-backed securities26,850 92 29,847 4,393 56,697 4,485 
Corporate bonds  15,553 2,556 15,553 2,556 
$29,587 $98 $390,570 $52,897 $420,157 $52,995 
Held to Maturity
State and municipal$ $ $55,923 $6,387 $55,923 $6,387 
Residential mortgage-backed securities  2,161 123 2,161 123 
$ $ $58,084 $6,510 $58,084 $6,510 
December 31, 2023
Available for Sale      
U.S. Government and agencies$ $ $156,795 $19,663 $156,795 $19,663 
Collateralized mortgage obligations  41,085 4,104 41,085 4,104 
Residential mortgage-backed securities  156,295 19,630 156,295 19,630 
Commercial mortgage-backed securities  33,063 4,553 33,063 4,553 
Corporate bonds  15,279 2,834 15,279 2,834 
 $ $ $402,517 $50,784 $402,517 $50,784 
Held to Maturity
State and municipal$ $ $56,713 $5,419 $56,713 $5,419 
Residential mortgage-backed securities  2,344 124 2,344 124 
$ $ $59,057 $5,543 $59,057 $5,543 

All mortgage-backed security investments are government sponsored enterprise pass-through instruments issued by the Federal National Mortgage Association or Federal Home Loan Mortgage Corporation or they are issued by Government National Mortgage Association which is backed by the U.S. government.
The Company evaluates AFS debt securities for impairment in unrealized loss positions at each measurement date to determine whether the decline in the fair value below the amortized cost basis is due to credit-related factors or noncredit-related factors. The Company evaluates HTM debt securities for expected credit losses at each measurement date to determine if an ACL is required. In estimating credit events management considers whether it intends to sell the security, or if it is more likely than not that it will be required to sell the security before anticipated recovery, or if it does not expect to recover the entire amortized cost basis. The Corporation does not have an ACL for HTM investment securities as of March 31, 2024 and December 31, 2023.

12

Amortized cost and fair value at March 31, 2024, by contractual maturity, where applicable, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay with or without penalties. Securities not due at a single maturity date are shown separately.
 Available for SaleHeld to Maturity
(In thousands)Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
1 year or less$15,609 $15,265 $ $ 
Over 1 year through 5 years117,054 105,401 1,960 1,732 
Over 5 years through 10 years59,495 49,245 23,643 23,572 
Over 10 years2,000 1,463 36,707 30,619 
Mortgage-backed securities283,948 253,740 2,284 2,161 
 $478,106 $425,114 $64,594 $58,084 

The proceeds from sales and calls of securities and the associated gains and losses are listed below:
Three Months Ended March 31,
(In thousands)20242023
Proceeds$23,561 $57,524 
Gross gains87 228 
Gross losses18 421 

At March 31, 2024, and December 31, 2023, securities with a carrying value of $186.1 million and $233.7 million, respectively, were pledged as collateral as required by law on public and trust deposits, repurchase agreements, and for other purposes.

Note 4 -    Loans and Allowance for Credit Losses
 
The following table presents the composition of the loan portfolio:
 
(In thousands)March 31, 2024December 31, 2023
Commercial real estate$930,109 $898,709 
Residential mortgage391,864 394,189 
Commercial and industrial157,085 152,344 
Home equity lines of credit87,475 90,163 
Real estate construction90,331 84,341 
Consumer9,789 9,954 
Gross loans1,666,653 1,629,700 
Unearned income(1,673)(1,712)
Total loans, net of unearned income$1,664,980 $1,627,988 

13

One of the factors used to monitor the performance and credit quality of the loan portfolio is to analyze the age of the loans receivable as determined by the length of time a recorded payment is past due. The following tables present the classes of the loan portfolio summarized by the past due status:
(In thousands)30–59 Days Past Due60–89 Days
Past Due
≥ 90 Days
Past Due
Total Past
Due
CurrentTotal Loans
Receivable
Loans
Receivable
≥ 90 Days
and
Accruing
March 31, 2024
Commercial real estate$1,927 $ $347 $2,274 $927,835 $930,109 $32 
Residential mortgage1,704  711 2,415 389,449 391,864 535 
Commercial and industrial52  158 210 156,875 157,085  
Home equity lines of credit257 23 652 932 86,543 87,475 652 
Real estate construction97 12  109 90,222 90,331  
Consumer    9,789 9,789  
Gross Loans$4,037 $35 $1,868 $5,940 $1,660,713 $1,666,653 $1,219 

(In thousands)30–59 Days Past Due60–89 Days
Past Due
≥ 90 Days
Past Due
Total Past
Due
CurrentTotal Loans
Receivable
Loans
Receivable
≥ 90 Days
and
Accruing
December 31, 2023
Commercial real estate$150 $347 $ $497 $898,212 $898,709 $ 
Residential mortgage1,293 388 849 2,530 391,659 394,189 505 
Commercial and industrial50  159 209 152,135 152,344  
Home equity lines of credit414  654 1,068 89,095 90,163 654 
Real estate construction12   12 84,329 84,341  
Consumer8  3 11 9,943 9,954 3 
Gross Loans$1,927 $735 $1,665 $4,327 $1,625,373 $1,629,700 $1,162 

Nonaccrual and Nonperforming Loans

Loans individually evaluated consist of nonaccrual loans, presented in the following table: 

(In thousands)With a Related AllowanceWithout a Related AllowanceTotal
March 31, 2024
Commercial real estate$315