ACNB Corporation Holds 2022 Annual Meeting of Shareholders – InsuranceNewsNet
“At ACNB Corporation, our vision is to be the independent financial services provider of choice in key markets served by building relationships and finding solutions. We remain focused on this vision as we enter 2022 and look to a post-pandemic environment for growth. After responding to the first impacts of COVID-19 in 2020, we managed to look to the future in 2021 despite the challenges of the business environment. The result was a record profit for the year 2021,” said
“Despite the continued low interest rate environment and excessive liquidity in the market which negatively impacted our net interest income and net interest margin for the year, net income for the year closed
Speaking of the bank subsidiary, whose foundation dates back to 1857,
During the business portion of the annual meeting,
In addition, the Company’s shareholders approved the proposals relating to executive compensation and the ratification of the selection of the registered independent public accounting firm for the year ending
FORWARD-LOOKING 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 regarding future earnings, expenses, net interest income, other income, earnings or loss per share, asset composition and quality, growth prospects, capital structure, and other financial terms, (b) statements of plans and objectives of management or the board of directors, and ( (c) statements of assumptions, such as economic conditions in the Company’s market sectors. Such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “intends”, “will”, “should”, ” provides”, or the negative of any of the foregoing or other variations thereof or comparable terminology, or by a discussion of strategy. Forward-looking statements are subject to certain risks and uncertainties such as local economic conditions, competitive factors and regulatory limitations. Actual results may differ materially from those projected in the forward-looking statements. These risks, uncertainties and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the following: the short-term and long-term effects of inflation and increased costs to the Company, customers and the economy; the effects of governmental and tax policies, as well as legislative and regulatory changes; the effects of new laws and regulations (including tax, banking, securities and insurance laws and regulations) and their application with which the Company and its subsidiaries must comply; the impacts of the capital and liquidity requirements of the Basel III standards; the effects of changes in accounting policies and practices, as they may be adopted by regulatory bodies, as well as the
CANB #2022-18
Contact: | |
EVP/Secretary & | |
Head of Governance | |
717.339.5085 | |
[email protected] |
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