ACNB Corporation (NASDAQ: ACNB), financial holding company
headquartered in Gettysburg, PA, announced today that the name of
its insurance subsidiary changed from Russell Insurance Group, Inc.
to ACNB Insurance Services, Inc. effective January 1, 2022. ACNB
Insurance Services, Inc. is a full-service insurance agency based
in Westminster, MD, that offers a broad range of property,
casualty, health, life and disability insurance serving personal
and commercial clients.
“When ACNB Corporation purchased Russell
Insurance Group, Inc. in 2005, this was the first entry for the
Corporation into the Maryland market. Today, the insurance agency
subsidiary has grown through acquisitions to serve clients with
additional office locations in Germantown and Jarrettsville,
Maryland, and Gettysburg, Pennsylvania. Now that the insurance
agency has an established client base in the home market for ACNB
Bank, the Corporation’s other wholly-owned subsidiary, it just made
sense to align the name of the insurance agency with ACNB
Corporation and ACNB Bank,” said James P. Helt, ACNB Corporation
President & Chief Executive Officer.
Mr. Helt continued, “The rebranding as ACNB
Insurance Services, Inc. reinforces the common ownership by ACNB
Corporation of both ACNB Bank and the insurance agency, as well as
makes this affiliation more visible and transparent for consumers
and businesses in our shared communities. Going forward, we plan to
leverage cross-selling opportunities between ACNB Bank and ACNB
Insurance Services, Inc., which will further the Corporation’s
vision of being the independent financial services provider of
choice in the core markets served by building relationships and
finding solutions.”
ACNB Corporation, headquartered in Gettysburg,
PA, is the $2.8 billion financial holding company for the
wholly-owned subsidiaries of ACNB Bank, Gettysburg, PA, and ACNB
Insurance Services, 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 20 community banking offices, located in the four
southcentral Pennsylvania counties of Adams, Cumberland, Franklin
and York, as well as loan offices in Lancaster and York, PA, 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 six community banking offices located in Frederick
County and Carroll County, MD, respectively. ACNB Insurance
Services, Inc. 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, and Gettysburg, PA. For more information
regarding ACNB Corporation and its subsidiaries, please visit
acnb.com.
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 mix 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 Corporation’s market areas. Such forward-looking
statements can be identified by the use of forward-looking
terminology such as “believes”, “expects”, “may”, “intends”,
“will”, “should”, “anticipates”, or the negative of any of the
foregoing or other variations thereon or comparable terminology, or
by 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. Such 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 effects of governmental and fiscal policies, as well
as legislative and regulatory changes; the effects of new laws and
regulations, specifically the impact of the Coronavirus Response
and Relief Supplemental Appropriations Act, the Coronavirus Aid,
Relief, and Economic Security Act, the Tax Cuts and Jobs Act, and
the Dodd-Frank Wall Street Reform and Consumer Protection Act;
impacts of the capital and liquidity requirements of the Basel III
standards; the effects of changes in accounting policies and
practices, as may be adopted by the regulatory agencies, as well as
the Financial Accounting Standards Board and other accounting
standard setters; ineffectiveness of the business strategy due to
changes in current or future market conditions; future actions or
inactions of the United States government, including the effects of
short- and long-term federal budget and tax negotiations and a
failure to increase the government debt limit or a prolonged
shutdown of the federal government; the effects of economic
conditions particularly with regard to the negative impact of
severe, wide-ranging and continuing disruptions caused by the
spread of Coronavirus Disease 2019 (COVID-19) and the responses
thereto on the operations of the Corporation and current customers,
specifically the effect of the economy on loan customers’ ability
to repay loans; the effects of competition, and of changes in laws
and regulations on competition, including industry consolidation
and development of competing financial products and services; the
risks of changes in interest rates on the level and composition of
deposits, loan demand, and the values of loan collateral,
securities, and interest rate protection agreements, as well as
interest rate risks; difficulties in acquisitions and integrating
and operating acquired business operations, including information
technology difficulties; challenges in establishing and maintaining
operations in new markets; the effects of technology changes;
volatilities in the securities markets; the effect of general
economic conditions and more specifically in the Corporation’s
market areas; the failure of assumptions underlying the
establishment of reserves for loan losses and estimations of values
of collateral and various financial assets and liabilities; acts of
war or terrorism; disruption of credit and equity markets; the
ability to manage current levels of impaired assets; the loss of
certain key officers; the ability to maintain the value and image
of the Corporation’s brand and protect the Corporation’s
intellectual property rights; continued relationships with major
customers; and, potential impacts to the Corporation from
continually evolving cybersecurity and other technological risks
and attacks, including additional costs, reputational damage,
regulatory penalties, and financial losses. We caution readers not
to place undue reliance on these forward-looking statements. They
only reflect Management’s analysis as of this date. The Corporation
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 Corporation files
from time to time with the SEC, including the Annual Reports on
Form 10-K and Quarterly Reports on Form 10-Q. Please also carefully
review any Current Reports on Form 8-K filed by the Corporation
with the SEC.
Contact: Lynda L. GlassEVP/Secretary &Chief
Governance Officer717.339.5085lglass@acnb.com
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