The board of directors of ACNB Corporation approved and declared the payment of the regular quarterly cash dividend. The cash dividend of 25 cents per share is payable on March 13 to shareholders of record on Feb. 28. This per share amount reflects a nearly 9 percent increase over prior year same quarter and will result in aggregate dividend payments of approximately $2.2 million to ACNB Corporation shareholders in the first quarter of 2020. In comparison to a year ago, ACNB Corporation paid a 23 cents dividend per share in the first quarter of 2019.
“Our inorganic growth strategy in 2019 was focused on the acquisition of Frederick County Bancorp Inc., headquartered in Frederick, Maryland, and its wholly-owned subsidiary, Frederick County Bank, which came to fruition with the legal close effective Saturday, Jan. 11. It is our belief that the addition of the community banking network of five locations branded as FCB Bank, a division of ACNB Bank, will further enhance long-term shareholder value due to both geographic expansion and future financial benefits,” said James P. Helt, ACNB Corporation president and chief executive officer. “The board of directors is pleased to announce this dividend of $0.25 per share to ACNB Corporation’s shareholders, now including the former stockholders of Frederick County Bancorp Inc.”
ACNB Corporation, headquartered in Gettysburg, is the $2.2 billion financial holding company for the wholly-owned subsidiaries of ACNB Bank, Gettysburg and Russell Insurance Group Inc., Westminster, Md. Originally founded in 1857, ACNB Bank serves its marketplace with banking and wealth management services, including trust and retail brokerage, via a network of 22 community banking offices, located in the four south-central Pennsylvania counties of Adams, Cumberland, Franklin and York, as well as loan offices in Lancaster and York, and Hunt Valley, Md. As divisions of ACNB Bank operating in Maryland, FCB Bank and NWSB Bank serve the local marketplace with a network of five and seven community banking offices located in Frederick County and Carroll County, Md., respectively. Russell Insurance Group Inc., the corporation’s insurance subsidiary, is a full-service agency with licenses in 44 states. The agency offers a broad range of property, casualty, health, life and disability insurance serving personal and commercial clients through office locations in Westminster, Germantown and Jarrettsville, Md. For more information regarding ACNB Corporation and its subsidiaries, visit acnb.com.