GETTYSBURG, PA, Sept. 14, 2020 (GLOBE NEWSWIRE) – ACNB Corporation was recently named to Central Penn Business Journal's 24th Annual List of 50 Fastest Growing Companies in Central Pennsylvania for 2020. This is the third year in a row ACNB Corporation has achieved this recognition and is ranked 28th in 2020.
“What began in 1857 as a savings bank with a location in Lincoln Square in Gettysburg, Pennsylvania, has grown into a vibrant and successful community banking organization in 2020 with 33 community banking offices and three credit offices. The growth of ACNB Corporation is the direct result of the dedication and hard work of many in our organization, as well as the success of our business model, vision and core values. We are once again honored to be recognized for our achievements and appreciate the positive momentum ACNB Corporation continues to experience in our local markets through our subsidiaries of ACNB Bank and Russell Insurance Group, Inc., "said James P. Helt. President and Chief Executive Officer of ACNB Corporation.
"ACNB Corporation has long been committed to the communities that are shared with its employees, customers and shareholders," he continued. "Out of gratitude, we recognize those who contribute to the vision and growth of ACNB Corporation as a financial services provider focused on building relationships and finding solutions."
In order to be included in this ranking for 2020, companies had to report sales of at least USD 500,000 in each of the 2017, 2018 and 2019 fiscal years and a growth in sales in 2019 compared to 2017. Companies Companies with headquarters in Adams, Cumberland, Dauphin, Franklin, Lancaster, Lebanon, Perry or York County were eligible for nomination.
The program's presenting sponsor, Baker Tilly, performed the calculations and ranked companies based on revenue growth over the three year period. Both dollar and percentage increases have been taken into account. This ranking formula resulted in the final list of 50 award winners, who were recognized at a virtual celebration on Wednesday September 9th, 2020 when certain rankings within the top 50 were announced.
ACNB Corporation, headquartered in Gettysburg, PA, is the $ 2.4 billion financial holding for the wholly-owned subsidiaries of ACNB Bank, Gettysburg, PA, and Russell Insurance Group, Inc., Westminster, MD. Founded in 1857, ACNB Bank serves its market with banking and asset management services, including escrow and retail brokerage, through a network of 21 community banking offices in the four counties of Adams, Cumberland, Franklin and York in southern Pennsylvania as credit offices in Lancaster and York, PA and Hunt Valley, MD. As divisions of ACNB Bank, based in Maryland, FCB Bank and NWSB Bank serve the local market with a network of five and seven community banking offices in Frederick County and Carroll County, MD, respectively. Russell Insurance Group, Inc., the company's insurance subsidiary, is a full-service agency licensed in 44 states. The agency offers a broad range of property, casualty, health, life, and disability insurance to private and business customers in office locations in Westminster, Germantown, and Jarrettsville, MD, and Gettysburg, PA. For more information about ACNB Corporation and its subsidiaries, please visit acnb.com.
Top 50 Fastest Growing Companies is a program published by the Central Penn Business Journal and presented by Baker Tilly. For more information on the awards and winners, visit CPBJ.com/2020-top-50-fastest-growing-companies.
FUTURE STATEMENTS – In addition to historical information, this press release may contain forward-looking statements. Examples of forward-looking statements include, but are not limited to, (a) projections or statements about future earnings, expenses, net interest income, other income, earnings or losses per share, asset mix and quality, growth prospects, capital structure, and other financial conditions, (b) plans and goals of management or the board of directors and (c) assumptions such as B. the economic conditions in the company's market areas. Such forward-looking statements can be identified by the use of forward-looking terms such as “believes,” “expects,” “may,” “intends,” “will,” “should,” “anticipates,” or the negative of any of the preceding or other variations thereof or similar terminology or by discussing the strategy. Forward-looking statements are subject to certain risks and uncertainties, such as local economic conditions, competitive factors and regulatory restrictions. Actual results could differ materially from those projected in the forward-looking statements. These risks, uncertainties and other factors that could cause actual results and experiences to differ from those projected include, but are not limited to: the effects of government and financial policies, changes in legislation and regulations; the impact of new laws and regulations, particularly the impact of the Tax Cut and Employment Act and the Dodd-Frank Reform and Consumer Protection Act on Wall Street; Impact of capital and liquidity requirements of Basel III standards; the effects of changes in accounting policies and practices as may be determined by regulators, as well as the Financial Accounting Standards Board and other accounting standards; Ineffectiveness of business strategy due to changes in current or future market conditions; future action or inaction by the United States government, including the effects of short and long-term federal budget and tax negotiations and a failure to raise the national debt ceiling or prolonged federal government shutdown; the impact of economic conditions, particularly with regard to the negative impact of severe, widespread and persistent disruptions caused by the 2019 Coronavirus Disease (COVID-19) spread and the responses to them on the Company's and current customers' operations , in particular the impact of the economy on the ability of loan customers to repay loans; the effects of competition and changes in laws and regulations on competition, including industry consolidation and the development of competing financial products and services; the risks of changes in interest rates in relation to the amount and composition of deposits, loan demand and the values of loan collateral, securities and interest protection agreements and interest rate risks; Difficulties in making acquisitions and integrating and operating acquired businesses, including difficulties in information technology; Challenges in building and maintaining activities in new markets; the effects of technological changes; Volatilities in the securities markets; the effects of general economic conditions, and in particular on the company's market areas; the failure of the assumptions underlying the creation of provisions for credit losses and estimates of the value of collateral and various financial assets and liabilities; Acts of war or terrorism; Disruption of credit and stock markets; the ability to manage the current level of impaired assets; the loss of certain key officers; the ability to maintain the company's brand value and image and protect the company's intellectual property rights; Continuation of relationships with major customers; and the potential impact of evolving cybersecurity and other technological risks and attacks on the business, including additional costs, reputational damage, regulatory sanctions and financial losses. We caution readers not to place undue reliance on these forward-looking statements. They only reflect management's analysis as of that date. The company does not revise or update these forward-looking statements to reflect events or changed circumstances. Please carefully review the risk factors described in other documents the company filings with the SEC from time to time, including the annual reports on Form 10-K and the quarterly reports on Form 10-Q. Please also carefully review all current reports on Form 8-K filed with the SEC by the corporation.
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