- ACNB Corporation (ACNB, Financial) reports a net loss of $272,000 for Q1 2025, primarily due to acquisition-related expenses.
- The acquisition of Traditions Bancorp significantly boosted ACNB's assets, contributing $877.7 million in assets.
- ACNB's net interest margin improved to 4.07% in Q1 2025, compared to 3.81% in Q4 2024.
ACNB Corporation (ACNB), the financial holding company for ACNB Bank and ACNB Insurance Services, Inc., announced a net loss of $272,000, or $0.03 per share, for the first quarter of 2025. This is in contrast to a net income of $6.8 million for the same period in 2024. The loss was impacted by the acquisition of Traditions Bancorp, which led to a $4.2 million provision for credit losses and $6.2 million in merger-related expenses, both net of taxes.
The strategic acquisition of Traditions Bancorp, completed on February 1, 2025, added $877.7 million in assets, $648.5 million in loans, and $741.5 million in deposits. The transaction, valued at approximately $83.8 million, substantially expanded ACNB's presence in the York and Lancaster, Pennsylvania markets.
Despite the quarterly net loss, ACNB reported notable financial metrics. The fully taxable equivalent (FTE) net interest margin increased to 4.07% for the quarter, up from 3.81% in Q4 2024, driven by acquisition accounting adjustments. Total loans outstanding reached $2.32 billion, while deposits rose to $2.54 billion by the end of Q1 2025.
Furthermore, ACNB's board approved an increase in the quarterly cash dividend by 6.3% to $0.34 per share. The company also repurchased 75,872 shares in open market transactions, reflecting continued commitment to enhancing shareholder value.
