ACNB (ACNB) Q4 2015 earnings summary

Executive summary

• 2015 net income rose 7% to $11.017M, or $1.83 per share; assets, loans, deposits and stockholders’ equity all increased YoY.

• Loan growth and core deposit initiatives supported higher net interest income despite a prolonged low-rate environment and slight NIM compression.

Financial highlights

• Net interest income was $35.606M vs. $33.880M in 2014; net income was $11.017M vs. $10.290M.

• Basic EPS increased to $1.83 from $1.71; total assets reached $1.148B, up from $1.090B.

• Total loans rose 7% to $852.960M and deposits increased 8% to $912.980M at year-end.

Outlook and guidance

• South Hanover office relocation was planned to open in May 2016; a new South York retail office was awaiting regulatory approval.

• Multi-year strategic plans and management succession moves were intended to position the banking operation for a dynamic, challenging future.