ACNB Q4 2023 net income falls 60% YoY to $4.1M; deposits drop 15.3% from prior year

ACNB CORP

2023-FY EPS reported $3.71 revenue$115,085,000

Q4 net income $4.1M ($0.48 diluted EPS) vs $10.2M ($1.20) in Q4 2022; full year net income $31.7M ($3.71) vs $35.8M in 2022.
Repositioned investment portfolio: sold $51.1M securities, recognizing $3.5M after-tax loss; expects $1.9M additional interest income over next 12 months.
Total deposits declined 15.3% YoY to $1.86B; replaced $30M brokered deposits with long-term borrowings; borrowings increased $189.2M YoY.
Total loans grew 5.8% YoY to $1.63B; non-performing loans stable at 0.26%; net charge-offs minimal (0.02% annualized for Q4).
Board declared Q1 dividend $0.30/share, up 7.1% YoY; tangible book value per share rose to $26.44 from $22.41 a year earlier.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ACNB CORP reported twelve months ended December 31, 2023 results: net income $31.7 million, EPS $3.71 per diluted earnings per share.

Period: twelve months ended December 31, 2023
Net income: $31.7 million
EPS: $3.71 per diluted earnings per share
Result: reported results

Exact text from the filing

The Corporation reported net income of $31.7 million, or $3.71 per diluted earnings per share, for the twelve months ended December 31, 2023

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ACNB CORP reported three months ended December 31, 2023 results: net income $4.1 million, EPS $0.48 per diluted earnings per share.

Period: three months ended December 31, 2023
Net income: $4.1 million
EPS: $0.48 per diluted earnings per share
Result: reported results

Exact text from the filing

announced net income of $4.1 million, or $0.48 per diluted earnings per share, for the three months ended December 31, 2023

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Source: SEC EDGAR

accession 0000715579-24-000011

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