ACNB Corp reports Q1 EPS $1.06 vs 76c last year

Total stockholders’ equity was $255.8 million at March 31, 2023 compared to $245.0 million at December 31, 2022 and $256.0 million at March 31, 2022. Stockholders equity decreased $2.4 million due to the cumulative effect for adoption of CECL and increased $6.1 million primarily due to the change in accumulated other comprehensive losses from unrealized losses in the securities portfolio. "At ACNB Corporation, 2023 is off to a sound start on many fronts despite the continued economic turmoil and the uncertainty that presented itself in the banking industry during the first quarter. Our financial results for the quarter reinforce our strategic efforts to appropriately manage risk and continue to provide a return to our shareholders. Our rebranding efforts are moving forward with the concept of One Together, One Team, One Brand. Our goal of brand realignment is to operate cohesively under one name and one brand to effectively serve our customers," said James P. Helt, ACNB Corporation President & Chief Executive Officer. "We remain confident that our financial performance, strong capital base, superior asset quality metrics and our robust risk management practices position us well to meet the ongoing uncertainty facing the banking industry and regional economy. As a locally operated community bank, we remain focused on managing our balance sheet risks on a daily basis and have worked diligently to avoid the excessive risks experienced by others in our industry. At the end of the first quarter, our level of uninsured and non-collateralized deposits was approximately 19%, and our total deposits were approximately 13.5% higher than pre-pandemic levels as of March 31, 2020. We take pride in meeting the needs of our local customers and supporting the communities we serve on a daily basis, while simultaneously rewarding our shareholders with a focus on profitability and a return on their capital investment in ACNB Corporation."