Profile: ACNB Corp (ACNB.O)
26 May 2017
ACNB Corporation, incorporated on November 9, 1982, is a financial holding company. The Company's banking operations are conducted through its operating subsidiary, ACNB Bank (the Bank), and offers a range of property and casualty, life and health insurance to both commercial and individual clients through its subsidiary, Russell Insurance Group, Inc. (RIG). The Company has two segments: the Bank and RIG. RIG is managed separately from the banking segment, which includes the Bank and related financial services that the Company offers through its banking subsidiary. Through its banking and nonbanking subsidiaries, the Company provides a range of banking and financial services to individuals and businesses, including commercial and retail banking, trust and investment management, and insurance.
ACNB Bank is a commercial bank. ACNB Bank's service delivery channels for its customers include the automated teller machine (ATM) network, customer contact center, online, telephone and mobile banking. ACNB Bank operates approximately 20 retail banking offices in Adams, Cumberland, Franklin and York Counties, Pennsylvania, as well as a loan production office in York County, Pennsylvania. Its commercial lending includes commercial mortgages, real estate development and construction loans, accounts receivable and inventory financing, and agricultural and governmental loans. Its consumer lending programs include home equity loans and lines of credit, automobile and recreational vehicle loans, manufactured housing loans and personal lines of credit. Its mortgage lending programs include personal residential mortgages, residential construction loans and investment mortgage loans.
The Company's loan portfolio includes commercial, financial and agricultural loans; real estate loans, which include commercial, construction and residential, and consumer loans. The Company's commercial, consumer and residential mortgage loans are to borrowers in southcentral Pennsylvania and northern Maryland. Commercial real estate loans are loans made to lessors of non-residential properties. Consumer loans consist of home equity lines of credit and consumer loan categories. The Company's total loans are approximately $852.96 million
The Company uses investment securities to generate interest and dividend income, manage interest rate risk, provide collateral for certain funding products, and provide liquidity. Its investment securities are classified as securities available for sale and held to maturity securities. The investment portfolio comprises the United States Government agency, municipal and corporate securities. The Company's total investment securities are approximately $197.24 million.
Sources of Funds
The Company's main sources of funds are deposits for lending activities. The Company's deposits include saving deposits, interest-bearing demand deposits and time deposits. Its interest bearing deposits include long-term deposits and short-term deposits. Its total deposits are approximately $912.98 million. Its short-term borrowings consist of securities sold under agreements to repurchase and short-term borrowings from the Federal Home Loan Bank (FHLB).
16 Lincoln Sq
PO Box 3129
GETTYSBURG PA 17325-0129