Acnb corporation reports fourth quarter and 2024 financial results

Gettysburg, pa., jan. 23, 2025 (globe newswire) -- acnb corporation (nasdaq: acnb) (“acnb” or the “corporation”), financial holding company for acnb bank and acnb insurance services, inc., announced net income of $6.6 million, or $0.77 diluted earnings per share, for the three months ended december 31, 2024, a $2.5 million, or 61.0%, increase, compared to net income of $4.1 million, or $0.48 diluted earnings per share, for the three months ended december 31, 2023 and a $609 thousand, or 8.5%, decrease compared to net income of $7.2 million, or $0.84 diluted earnings per share, for the three months ended september 30, 2024. the corporation reported net income of $31.8 million, or $3.73 per diluted earnings per share, for the twelve months ended december 31, 2024, an increase of $158 thousand, or 0.5%, compared to the twelve months ended december 31, 2023. the financial results for both the three and twelve months ended december 31, 2024 were impacted by $885 thousand and $2.0 million, respectively, in merger-related expense due to the pending acquisition of traditions bancorp, inc. financial results for the twelve months ended december 31, 2024 were impacted by a $2.8 million reversal of the provisions for credit losses and unfunded commitments. financial results for the twelve months ended december 31, 2023 were impacted by a repositioning of the investment securities portfolio in which acnb sold approximately $51.1 million in book value of available for sale investment securities generating an after-tax loss of approximately $3.5 million.
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