ACNB Company

ACNB Insurance coverage Companies, Inc.

ACNB Insurance Services, Inc. Acquires Leading Agency in Gettysburg, PA

ACNB Insurance coverage Companies, Inc. Acquires Main Company in Gettysburg, PA

GETTYSBURG, Pa., March 04, 2022 (GLOBE NEWSWIRE) — ACNB Company (NASDAQ: ACNB), monetary holding firm for ACNB Financial institution and ACNB Insurance coverage Companies, Inc., introduced the completion of the acquisition of the enterprise and property of Hockley & O’Donnell Insurance coverage Company, LLC, Gettysburg, PA, by its wholly-owned subsidiary, ACNB Insurance coverage Companies, Inc., efficient February 28, 2022.

“We’re excited to have Hockley & O’Donnell Insurance coverage Company be a part of ACNB Company by way of its wholly-owned subsidiary, ACNB Insurance coverage Companies, with a purpose to improve our capacity to be the supplier of each banking and insurance coverage providers in our house market of Adams County,” mentioned James P. Helt, ACNB Company and ACNB Financial institution President & Chief Govt Officer. “It’s our intent to leverage this acquisition for elevated synergies and income throughout each the insurance coverage and banking subsidiaries. For ACNB Company shareholders, this implies additional worth and return on their funding as we execute plans for strategic progress and solidify our place because the monetary providers supplier of alternative within the core markets served.”

This transaction is the latest acquisition of a e-book of insurance coverage enterprise by ACNB Insurance coverage Companies, Inc., which is anticipated to extend gross premium {dollars} for the company by roughly 30%. Inorganic progress, akin to this transaction, has been an integral a part of the insurance coverage company’s marketing strategy since its founding in 1978 as Russell Insurance coverage Group, Inc. ACNB Company bought Russell Insurance coverage Group, Inc., based mostly in Westminster, MD, in 2005. Since that point, the insurance coverage company subsidiary has expanded its footprint resulting from natural progress in addition to acquisitions leading to extra workplace areas in Germantown and Jarrettsville, MD, and Gettysburg, PA.

Efficient January 1, 2022, the company identify was modified to ACNB Insurance coverage Companies, Inc. to align the subsidiary identify with that of ACNB Company and ACNB Financial institution, the opposite wholly-owned subsidiary of ACNB Company. The acquisition of the property of Hockley & O’Donnell Insurance coverage Company, LLC fortifies the place of ACNB Insurance coverage Companies, Inc. within the better Adams County, PA, market, the place ACNB Company and ACNB Financial institution have been based.

ACNB Company, headquartered in Gettysburg, PA, is the $2.8 billion monetary holding firm for the wholly-owned subsidiaries of ACNB Financial institution, Gettysburg, PA, and ACNB Insurance coverage Companies, Inc., previously Russell Insurance coverage Group, Inc., Westminster, MD. Initially based in 1857, ACNB Financial institution serves its market with banking and wealth administration providers, together with belief and retail brokerage, through a community of 20 group banking workplaces, positioned within the 4 southcentral Pennsylvania counties of Adams, Cumberland, Franklin and York, in addition to mortgage workplaces in Lancaster and York, PA, and Hunt Valley, MD. As divisions of ACNB Financial institution working in Maryland, FCB Financial institution and NWSB Financial institution serve the native market with a community of 5 and 6 group banking workplaces positioned in Frederick County and Carroll County, MD, respectively. ACNB Insurance coverage Companies, Inc. is a full-service company with licenses in 44 states. The company provides a broad vary of property, casualty, well being, life and incapacity insurance coverage serving private and industrial purchasers by way of workplace areas in Westminster, Germantown and Jarrettsville, MD, and Gettysburg, PA. For extra info concerning ACNB Company and its subsidiaries, please go to acnb.com.

FORWARD-LOOKING STATEMENTS – Along with historic info, this press launch could comprise forward-looking statements. Examples of forward-looking statements embrace, however should not restricted to, (a) projections or statements concerning future earnings, bills, web curiosity revenue, different revenue, earnings or loss per share, asset combine and high quality, progress prospects, capital construction, and different monetary phrases, (b) statements of plans and targets of Administration or the Board of Administrators, and (c) statements of assumptions, akin to financial situations within the Company’s market areas. Such forward-looking statements could be recognized by way of forward-looking terminology akin to “believes”, “expects”, “could”, “intends”, “will”, “ought to”, “anticipates”, or the adverse of any of the foregoing or different variations thereon or comparable terminology, or by dialogue of technique. Ahead-looking statements are topic to sure dangers and uncertainties akin to native financial situations, aggressive elements, and regulatory limitations. Precise outcomes could differ materially from these projected within the forward-looking statements. Such dangers, uncertainties, and different elements that would trigger precise outcomes and expertise to vary from these projected embrace, however should not restricted to, the next: results of governmental and financial insurance policies, in addition to legislative and regulatory adjustments; results of latest legal guidelines and laws (together with legal guidelines and laws regarding taxes, banking, securities and insurance coverage) and their utility with which the Company and its subsidiaries should comply; impacts of the capital and liquidity necessities of the Basel III requirements; results of adjustments in accounting insurance policies and practices, as could also be adopted by the regulatory businesses, in addition to the Monetary Accounting Requirements Board and different accounting normal setters; ineffectiveness of the enterprise technique resulting from adjustments in present or future market situations; future actions or inactions of the US authorities, together with the consequences of short- and long-term federal price range and tax negotiations and a failure to extend the federal government debt restrict or a protracted shutdown of the federal authorities; results of financial situations notably with regard to the adverse impression of extreme, wide-ranging and persevering with disruptions brought on by the unfold of Coronavirus Illness 2019 (COVID-19) and another pandemic, epidemic or health-related disaster and the responses thereto on the operations of the Company and present clients, particularly the impact of the financial system on mortgage clients’ capacity to repay loans; results of competitors, and of adjustments in legal guidelines and laws on competitors, together with trade consolidation and growth of competing monetary services and products; inflation, securities market and financial fluctuations; dangers of adjustments in rates of interest on the extent and composition of deposits, mortgage demand, and the values of mortgage collateral, securities, and rate of interest safety agreements, in addition to rate of interest dangers; difficulties in acquisitions and integrating and working acquired enterprise operations, together with info know-how difficulties; challenges in establishing and sustaining operations in new markets; results of know-how adjustments; impact of normal financial situations and extra particularly within the Company’s market areas; failure of assumptions underlying the institution of reserves for mortgage losses and estimations of values of collateral and numerous monetary property and liabilities; acts of conflict or terrorism; disruption of credit score and fairness markets; capacity to handle present ranges of impaired property; lack of sure key officers; capacity to keep up the worth and picture of the Company’s model and shield the Company’s mental property rights; continued relationships with main clients; and, potential impacts to the Company from regularly evolving cybersecurity and different technological dangers and assaults, together with extra prices, reputational injury, regulatory penalties, and monetary losses. We warning readers to not place undue reliance on these forward-looking statements. They solely replicate Administration’s evaluation as of this date. The Company doesn’t revise or replace these forward-looking statements to replicate occasions or modified circumstances. Please rigorously evaluate the danger elements described in different paperwork the Company information occasionally with the SEC, together with the Annual Experiences on Kind 10-Ok and Quarterly Experiences on Kind 10-Q. Please additionally rigorously evaluate any Present Experiences on Kind 8-Ok filed by the Company with the SEC.

Contact: Lynda L. Glass
EVP/Secretary &
Chief Governance Officer
717.339.5085
[email protected]

A photograph accompanying this announcement is obtainable at https://www.globenewswire.com/NewsRoom/AttachmentNg/ff381a3b-b057-4abb-8aae-d813bcbd8ecd

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