ACNB (ACNB) Investor Presentation summary

Corporate profile and market presence

• Mid-Atlantic commercial bank holding company with operations in Pennsylvania and Maryland, serving regions including Gettysburg and Greater Baltimore.

• Total assets of $2.5B, total loans of $1.7B, and market capitalization of $335M as of June 30, 2024.

• Operates 26 offices across key counties in PA and MD, with a strong deposit market share in Adams County and growing presence in affluent Maryland counties.

• Institutional ownership is approximately 34%, with a dividend yield of 3.26% and a share price of $39.25 as of August 20, 2024.

Management and strategy

• Leadership team has extensive experience, with several executives having over 15 years at ACNB and decades in financial services.

• Focused on commercial lending, with commercial loans making up about 70% of the portfolio and an average commercial loan yield of 5.62%.

• Strategic branch optimization has reduced net branch count by ~21% since 2020, while supplementing with commercial teams in key markets.

• Ongoing enterprise modernization and digital transformation initiatives to improve customer experience.

Financial performance and profitability

• Return on average assets (ROAA) at 1.86% and return on average equity (ROAE) at 16.12% for the most recent quarter.

• Net interest margin (FTE NIM) at 3.82% for the quarter ended June 30, 2024.

• Diluted earnings per share for 2Q24 was $1.32, with strong profitability despite a challenging environment.

• Efficiency ratio improved to 58.69% in 2Q24, reflecting effective expense management.