ACNB Corporation (the Corporation or ACNB) is financial holding company headquartered
in Gettysburg, Pennsylvania. Through its banking and nonbanking subsidiaries,
ACNB provides a full range of banking and financial services to individuals and
businesses, including commercial and retail banking, trust and investment management,
and insurance. ACNBs banking operations are conducted through its primary operating
subsidiary, ACNB Bank, with twenty-one retail banking offices in Adams, Cumberland,
Franklin and York Counties, Pennsylvania, as well as one loan production office
in York County, Pennsylvania. The Corporation was formed in 1982, then became
the holding company for Adams County National Bank (now ACNB Bank) in 1983.
ACNBs major source of operating funds is dividends that it receives from
its subsidiaries. ACNBs expenses consist principally of losses from low-income
housing investments and interest paid on a term loan used to purchase RIG. Dividends
that ACNB pays to stockholders consist of dividends declared and paid to ACNB
by the subsidiary bank.
ACNB and its subsidiaries are not dependent upon a single customer or a small
number of customers, the loss of which would have a material adverse effect
on the Corporation. ACNB does not depend on foreign sources of funds, nor does
it make foreign loans.
The common stock of ACNB is listed on The NASDAQ Capital Market under the
symbol ACNB.
ACNB Bank
ACNB Bank is a full-service commercial bank operating under charter from the
Pennsylvania Department of Banking and Securities. The Banks principal market
area is Adams County, Pennsylvania, which is located in southcentral Pennsylvania.
Adams County depends on agriculture, industry and tourism to provide employment
for its residents. No single sector dominates the countys economy.
The main office of the Bank is located at 16 Lincoln Square, Gettysburg, Pennsylvania.
In addition to its main office, the Bank had thirteen branches in Adams County,
four branches in York County, one branch in Cumberland County, and two branches
in Franklin County, as well as a loan production office in York County, Pennsylvania.
ACNB Banks service delivery channels for its customers also include the ATM
network, Customer Contact Center, and Online, Telephone and Mobile Banking.
The Bank is subject to regulation and periodic examination by the Pennsylvania
Department of Banking and Securities and the Federal Deposit Insurance Corporation
(FDIC). The FDIC, as provided by law, insures the Banks deposits.
Commercial lending includes commercial mortgages, real estate development
and construction loans, accounts receivable and inventory financing, and agricultural
and governmental loans. Consumer lending programs include home equity loans
and lines of credit, automobile and recreational vehicle loans, manufactured
housing loans, and personal lines of credit. Mortgage lending programs include
personal residential mortgages, residential construction loans, and investment
mortgage loans.
A trust is a legal fiduciary agreement whereby the ACNB Bank Trust Department
is named as trustee of financial assets. As trustee, the Trust Department invests,
protects, manages and distributes financial assets as defined in the agreement.
Estate settlement governed by the last will and testament of an individual constitutes
another part of the Trust Department business. One purpose of having a will
is to name an executor to settle the estate. ACNB Bank has the knowledge and
expertise to act as executor. Other services include, but are not limited to,
those related to testamentary trusts, life insurance trusts, charitable remainder
trusts, guardianships, powers of attorney, custodial accounts, and investment
management and advisory accounts.
Russell Insurance Group, Inc.
ACNB Corporations wholly-owned subsidiary, Russell Insurance Group, Inc.
(RIG), is a full-service insurance agency that offers a broad range of property
and casualty, life, and health insurance to both commercial and individual clients.
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