ACNB Corporation Holds 2020 Annual Meeting of Shareholders

GETTYSBURG, Pa., May 07, 2020 (GLOBE NEWSWIRE) -- The 2020 Annual Meeting of Shareholders of ACNB Corporation (NASDAQ: ACNB) was held on Tuesday, May 5, in a virtual meeting format as a result of the public health threat associated with the COVID-19 pandemic. ACNB Corporation is the financial holding company for the wholly-owned subsidiaries of ACNB Bank, Gettysburg, PA, and Russell Insurance Group, Inc., Westminster, MD.  

“2019 performance highlights for ACNB Corporation included the achievement of record earnings in the amount of $23.7 million, representing a 9% increase over 2018. We expanded our market penetration and operations in Pennsylvania with the opening of a loan production office in Lancaster. We announced the execution of a definitive agreement to acquire Frederick County Bancorp, Inc. and its wholly-owned subsidiary, Frederick County Bank, in the new market of Frederick, Maryland. We were, once again, named to the Central Penn Business Journal’s list of the Top 50 Fastest Growing Companies in central Pennsylvania. And, we were pleased in 2019 to provide an increase in the aggregate amount of dividends paid to our shareholders, which totaled $6.9 million and represented an 11% increase over 2018,” said James P. Helt, ACNB Corporation President & Chief Executive Officer during his presentation at the meeting. 

In reference to ACNB Corporation’s response to COVID-19, Mr. Helt continued, “It is our time to rise up and be a source of strength in our communities, because we come from a position of strength. We are a bank that is strong, steady and stable. We have withstood the test of time and provided continual service to our communities when our customers most need it.”

Mr. Helt ended the presentation saying, “So, I encourage all of us to look to the future with determination. We are confident that working together we can fulfill our mission as community bankers to serve our communities and continue to grow our company by building relationships and finding solutions.”

During the business portion of the annual meeting, ACNB Corporation shareholders approved proposals related to executive compensation and ratification of the selection of RSM US LLP as ACNB Corporation’s independent registered public accounting firm for the fiscal year ending December 31, 2020.

In addition, the Corporation’s shareholders elected Kimberly S. Chaney, Frank Elsner, III, James P. Helt, Scott L. Kelley and Daniel W. Potts as Class 3 Directors to serve for terms of three years. All nominees elected were previously members of the Board of Directors of ACNB Corporation. Each member of the Corporation’s Board also serves on the Board of Directors for the Corporation’s banking subsidiary, ACNB Bank.