ACNB Corporation (NASDAQ: ACNB) found its shares static Friday, as the financial holding company for ACNB Bank and ACNB Insurance Services, Inc., announced financial results for the quarter ended September 30, 2023 with net income of $9.0 million, a decrease of $1.3 million, or 12.4%, compared to net income of $10.3 million for the three months ended September 30, 2022. For the three months ended September 30, 2023 and 2022, basic and diluted earnings per share were $1.06 and $1.20, respectively, which is a decrease of $0.14 per share, or 11.7%. The current quarter net income of $9.0 million decreased $480 thousand, or 5.0%, compared to net income of $9.5 million for the quarter ended June 30, 2023. The current quarter basic and diluted earnings per share decreased $0.06 per share, or 5.4%, compared to the prior quarter.
During the third quarter, return on average assets was 1.52% and return on average equity was 13.84%; Fully taxable equivalent net interest margin was 4.01% compared to 4.11% for the prior quarter and 3.60% for the comparable quarter last year.
The corporation’s efficiency ratio was 56.97% compared to 55.52% for the prior quarter and 52.45% from the comparable quarter last year. Total loans outstanding were $1.62 billion at September 30, 2023, an increase of $42.1 million, or 2.7%, from June 30, 2023 and an increase of $88.8 million, or 5.8% from September 30, 2022.
ACNB shares closed Thursday trading at $33.13.
