2013 ANNUAL REVIEW
NEW HORIZONS BECKON.
TA B LE O F CO NTE NT S
Shareholder Information . . . . . . . . . . . . . . . . . . . . . 1
Consolidated Statements of Income . . . . . . . . . . 9
Business Profile . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Boards of Directors . . . . . . . . . . . . . . . . . . . . . . . . 10
Financial Highlights . . . . . . . . . . . . . . . . . . . . . . . . . 2
Officers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11
Report to Shareholders . . . . . . . . . . . . . . . . . . . . . 3
Office Locations . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Five-Year Financial Overview. . . . . . . . . . . . . . . . . 6
Contact Information . . . . . . . . . . . . . . . . . . . . . . . . 12
Consolidated Statements of Condition . . . . . . . . 8
S H A R E H O LD E R I N FO R M ATI O N
Annual Meeting
The 2014 Annual Meeting of Shareholders for
ACNB Corporation will be held on Tuesday,
May 6, at 1:00 p.m. at the ACNB Corporation
Operations Center, 100 V-Twin Drive, Gettysburg,
PA. All proxy and other materials for the Annual
Meeting are available on the Internet at acnb.com
under ACNB Corporation Investor Relations.
Stock Listing
ACNB Corporation common stock is listed and
traded on The NASDAQ Capital Market under
the symbol ACNB.
Annual Report on Form 10-K
A copy of ACNB Corporation’s Annual Report
on Form 10-K, as filed with the Securities and
Exchange Commission, may be obtained,
without charge, by contacting:
Lynda L. Glass
Executive Vice President, Secretary &
Chief Governance Officer
ACNB Corporation
PO Box 3129
Gettysburg, PA 17325
717.339.5085
The Annual Report and other Corporation reports
are also filed electronically with the Securities
and Exchange Commission and are accessible
by the public on the Internet at www.sec.gov/
edgar.shtml.
Transfer Agent, Registrar
and Dividend Disbursing Agent
Registrar and Transfer Company
10 Commerce Drive
Cranford, NJ 07016
www.rtco.com
shareholder
inquiries or
For
information
regarding the ACNB Corporation Dividend
Reinvestment and Stock Purchase Plan, call
Registrar and Transfer Company toll free at
1.800.368.5948.
Market Makers
Boenning & Scattergood, Inc.
West Conshohocken, PA
610.832.1212/1.800.883.1212
Janney Montgomery Scott LLC
York, PA
717.779.2720/1.800.999.0503
Local Broker
Wells Fargo Advisors, LLC
Hanover, PA
717.637.3817/1.800.242.1331
2 01 3 A N N UA L R E V I E W | 1
B U S I N E S S P RO FI LE
ACNB Corporation, headquartered in Gettysburg, PA, is the financial holding company for the wholly-
owned subsidiaries of ACNB Bank, Gettysburg, PA, and Russell Insurance Group, Inc., Westminster, MD.
Through its banking subsidiary of ACNB Bank,
Chambersburg, Franklin County, PA, with plans
ACNB Corporation provides a wide array of
for a new retail banking office in this community
consumer, commercial and fiduciary services to
opening in 2014.
fulfill the financial needs of individuals, businesses,
public entities, and community organizations in
Russell Insurance Group, Inc., the insurance
its trading area. Originally founded in 1857, ACNB
subsidiary of ACNB Corporation, offers a broad
Bank serves its marketplace as of December 31,
range of commercial and personal insurance lines
2013, via a network of 19 retail banking offices
through licenses in 36 states, including Maryland
located throughout Adams County, PA, as well
and Pennsylvania. This full-service insurance
as in Dillsburg, Hanover and Spring Grove, York
agency has office locations in Westminster,
County, PA, and in Newville, Cumberland County,
Carroll County, MD,
and Germantown,
PA. In addition, the Bank operates a loan office in
Montgomery County, MD.
FI N A N C IA L H I G H LI G HT S
For the Year
Net interest income
Net income
Cash dividends paid
Per Share Statistics
Basic earnings
Cash dividends paid
Book value (year-end)
At Year-End
Total assets
Total loans
Total deposits
Total stockholders’ equity
2013
$33,612,000
9,315,000
4,542,000
2012
$34,344,000
8,886,000
4,524,000
2011
$34,370,000
8,502,000
4,512,000
$ 1.56
0.76
17.83
$ 1.49
0.76
16.98
$ 1.43
0.76
16.39
$1,046,047,000 $1,049,995,000 $1,004,823,000
694,468,000
782,795,000
97,474,000
728,648,000
800,643,000
106,802,000
708,136,000
834,176,000
101,264,000
Key Ratios
Return on average assets
Return on average equity
Dividend payout
Average stockholders’ equity to average assets
0.90%
9.00%
48.76%
9.95%
0.86%
8.91%
50.91%
9.61%
0.85%
8.80%
53.15%
9.72%
2 | N E W H O R IZO N S B EC KO N
R E P O R T TO S H A R E H O LD E R S
New horizons beckon as ACNB Corporation sees a strengthening business environment after more
than five years of economic uncertainty and industry difficulties. Throughout the recession, ACNB
Corporation managed towards the future. The focus remained on ensuring safety and soundness,
building capital, enhancing asset quality, and applying the necessary resources to lay the foundation
for growth. Now there are signs of recovery, mixed with a sense of caution, in the economic outlook.
The Corporation and its wholly-owned subsidiaries of ACNB Bank and Russell Insurance Group, Inc. see
new horizons in our geographic footprint and in our product and services offering and delivery.
ACNB Corporation Financial Performance
ACNB Corporation’s net income advanced year
over year, as it has since 2008 at the beginning
of the economic recession. For the year ended
December 31, 2013, net income was $9,315,000,
or $1.56 per share. In comparison to 2012, this
is an increase of $429,000, or 5%. Net income
for the year ended December 31, 2012, was
$8,886,000, or $1.49 per share.
Net interest income is the most significant
component of the Corporation’s net income.
It is income derived from the interest earned
on loans and investments, less the interest
paid on deposits and borrowings, through the
Corporation’s banking subsidiary, ACNB Bank.
ACNB Corporation
reported $33,612,000
in net interest income for the year ended
December 31, 2013, compared to $34,344,000
for the year ended December 31, 2012. As
interest rates remain at historically low levels
with deposit interest rates at practical floors,
the challenge is to minimize the impact of net
interest margin compression by increasing the
volume of loans and, thus, the level of interest
income, while controlling interest expense. The
Corporation’s net interest margin declined to
3.48% for 2013 from 3.56% for 2012. However,
stronger loan growth towards the end of 2013
helped to offset some of the impact of lower
yields on loans during the year.
In 2013, $1,450,000 was provisioned to fund and
fortify the allowance for loan losses, which is the
reserve set aside for potential loan losses in the
future. This dollar amount was reduced from the
$4,675,000 charged against earnings in 2012 as
the Corporation adjusted the provision expense
to reflect current conditions in the loan portfolio
and to maintain the allowance for loan losses at a
level deemed to meet the risk characteristics of
the loan portfolio. As in prior years, asset quality
remains a management focus at the banking
subsidiary due to the slow economic recovery
and the elevated level of non-performing assets
relative to years prior to the recession. At year-
end 2013 and 2012, a key credit quality metric of
the ratio of non-performing loans to total loans
was 1.44% and 1.00%, respectively, and though
higher in 2013 remains consistent with or lower
than peers in the industry. Further, the allowance
for loan losses stood at $16,091,000 at year-end
2013, in comparison to $16,825,000 at year-
end 2012. The resulting ratio of the allowance
for loan losses to total loans was 2.21% as of
December 31, 2013, and the coverage ratio of
the allowance for loan losses to non-performing
loans was 153.26% as of this same date. Both of
these ratios are strong and firmly exceed those
of peers.
The Corporation’s return on average assets
was improved year over year at 0.90% for 2013,
compared to 0.86% for 2012. The return on
average equity advanced to 9.00% for 2013 from
8.91% for 2012, even given the rise in stockholders’
equity during 2013. And, the ratio of average
stockholders’ equity to average assets rose to
9.95% at year-end 2013, as compared to 9.61% at
year-end 2012.
2 01 3 A N N UA L R E V I E W | 3
ACNB Corporation’s assets remained stable at
$1.046 billion and $1.050 billion as measured on
December 31, 2013 and 2012, respectively. Total
deposits decreased by more than $33 million,
or 4%, year over year to $801 million at year-
end 2013 due primarily to ongoing low interest
rates on certificates of deposit and higher
returns in the equities market. Total loans rose
by nearly $21 million, or 3%, to $729 million at
December 31, 2013, which is significant given
the volume of loans in the portfolio that paid
down or paid off throughout the year. And, very
importantly, a 5% rise in stockholders’ equity
resulted in an aggregate of $107 million at year-
end 2013, in comparison to $101 million at the end
of the prior year.
Dividends to Shareholders
Once again, our shareholders benefited from
the Corporation’s financial performance in 2013
as ACNB Corporation furthered its long history
of paying dividends to its shareholders. A cash
dividend of $0.19 per share was paid in each
quarter of 2013. In total, $4,542,000, or $0.76 per
share, was approved by the ACNB Corporation
Board of Directors and paid to shareholders
in 2013 for a dividend payout ratio of 48.76%.
This is a meaningful indication of our strength
and soundness, as well as our commitment to
generating value for those who own the shares
of ACNB Corporation.
The ACNB Corporation Dividend Reinvestment
and Stock Purchase Plan offers registered
shareholders
to purchase
the opportunity
additional shares of the Corporation’s common
stock through the automatic reinvestment of
cash dividends and voluntary cash payments on
a quarterly basis. The benefit to the registered
shareholders who elect to participate in the plan
includes the convenience of the acquisition of
additional shares of ACNB Corporation common
stock, as well as the ability to do so without
paying service fees or brokerage commissions.
Since the plan’s introduction in January 2011,
62,968 new shares of ACNB Corporation common
stock have been issued to plan participants
as a result of both dividend reinvestment and
voluntary cash purchases.
4 | N E W H O R IZO N S B EC KO N
ACNB Bank
ACNB Bank is the primary driver of revenues and
profit at ACNB Corporation. This source of strength
is founded upon a history of independence
and growth for more than 155 years. Today,
ACNB Bank serves communities throughout
Adams County, Pennsylvania, as well as in York,
Cumberland and Franklin Counties, Pennsylvania,
with a network of 19 retail banking offices and
a loan production office. In December 2013, the
major expansion project at the Bank’s North
Hanover Office was nearly complete with the
consolidation of the commercial and residential
mortgage lending staff and a trust officer
under the same roof as the retail banking staff
in this York County location. This same month,
the Bank celebrated with a groundbreaking
ceremony for the new retail banking office at 850
Norland Avenue, Chambersburg, in the Franklin
County market.
It has always been the Bank’s mission to
reinvest depositors’ dollars in loans to others in
our communities. This endeavor occurs every
business day at ACNB Bank with the continued
goal of increasing loan growth in local markets,
while maintaining a reasonable funding base
by offering competitive deposit products and
services. In 2013, asset quality was again a high
priority due to economic conditions and the
financial impact on the Bank’s borrowers. The risk
in the Bank’s loan portfolio is carefully managed
and monitored based upon prudent underwriting
and review standards for the protection of
depositors and shareholders alike.
The offering and delivery of banking services to
its customers is evolving with consumer demand
for multiple channels and adoption of digital
banking by customers of varied demographics.
Coupled with the growth of smartphones
and tablets for use in day-to-day activities,
the expansion of online and mobile banking
continues as persons experience an increasing
comfort level with technology as well as value
anytime and anywhere convenience. From the
Bank’s point of view, this expansion also applies
to online communications and marketing —a
focus initiated in 2013 with further development
and execution planned for 2014.
Today’s banking and regulatory environments
necessitate an emphasis on capital as the basis
of organizational strength and sustainability.
At ACNB Bank, the primary capital ratios were
further enhanced and fortified in 2013. The total
risk-based capital ratio at year-end 2013 was
14.26%, exceeding the 10.00% requirement to be
well capitalized under banking regulations. At the
end of 2012, this ratio was 14.07%. Improvement in
the capital position of the Bank is predominantly
a function of retained earnings, which is the
amount of net income after the payment of
dividends to the Corporation for issuance to
ACNB Corporation shareholders.
Trust & Investment Services
fiduciary,
investment and
ACNB Bank’s Trust & Investment Services staff
provides
related
services to clients. Income from this business
segment totaled $1,299,000 for 2013, and assets
under management exceeded $150 million at
December 31, 2013. Looking forward, Trust &
Investment Services is focused on expanding
its client base geographically, beyond
its
Gettysburg base, and via new products and
services. One step in this direction was the
successful introduction of the ACNB Portfolio
Builder account in January 2013, which attracted
new client relationships to this business line of the
Bank. This new investment option, based upon
a limited mutual fund asset allocation model,
features a lower minimum account balance of
$50,000, lower cost, personalized planning, daily
access, and local expert advice.
Russell Insurance Group, Inc.
in 2005,
Inc. was acquired
The insurance subsidiary of Russell Insurance
Group,
is
headquartered in Westminster, Maryland, and is
led by Frank C. Russell, Jr. who founded the full-
service insurance agency in 1978. The weakness
in economic conditions and the financial markets
in recent years had a dampening effect on the
insurance industry resulting in lower premiums
and, therefore, lower revenues. Today, Russell
Insurance Group still faces the challenges
of heightened competition, especially in the
commercial lines of business, and a reduced
overall commission structure. Given
these
pressures, commissions from insurance sales
decreased to $4,671,000 for the year ended
December 31, 2013, from $4,835,000 for the year
ended December 31, 2012.
In Closing
2013 was a year of continued diligence and
discipline in managing our business at ACNB
Corporation, but always with an eye towards the
long-term horizon. The hard work, dedication and
talent of the more than 300 people who work
with us ensure our success. Looking ahead, we
are focused on the future and its opportunities to
grow and expand.
Your financial investment, as shareholders of
ACNB Corporation, is integral to our vision.
Thank you for your confidence in our future as
new horizons beckon.
Sincerely,
Frank Elsner, III
Chairman of the Board
Thomas A. Ritter
President & Chief Executive Officer
Lynda L. Glass
Executive Vice President,
Secretary & Chief Governance Officer
David W. Cathell
Executive Vice President,
Treasurer & Chief Financial Officer
2 01 3 A N N UA L R E V I E W | 5
FIV E -Y E A R FI N A N C IA L OV E RV I E W
Total Assets
In millions of dollars
Total Deposits
In millions of dollars
$961.9
$968.7
$1,004.8
$1,050.0
$1,046.0
$728.5
$746.5
$782.8
$834.2
$800.6
2009
2010
2011
2012
2013
2009
2010
2011
2012
2013
Total Loans
In millions of dollars
Total Stockholders’ Equity
In millions of dollars
$644.7
$665.3
$694.5
$708.1
$728.6
$88.3
$93.8
$97.5
$101.3
$106.8
2009
2010
2011
2012
2013
2009
2010
2011
2012
2013
Net Income
In millions of dollars
Earnings Per Share
In dollars
$7.2
$8.4
$8.5
$8.9
$9.3
$1.22
$1.42
$1.43
$1.49
$1.56
2009
2010
2011
2012
2013
2009
2010
2011
2012
2013
6 | N E W H O R IZO N S B EC KO N
Return on Average Assets
Percent
Return on Average Equity
Percent
0.75%
0.86%
0.85%
0.86%
0.90%
8.34%
9.15%
8.80%
8.91%
9.00%
2009
2010
2011
2012
2013
2009
2010
2011
2012
2013
Cash Dividends Paid Per Share
In dollars
Book Value Per Share
In dollars
$0.76
$0.76
$0.76
$0.76
$0.76
$14.90
$15.81
$16.39
$16.98
$17.83
2009
2010
2011
2012
2013
2009
2010
2011
2012
2013
2 01 3 A N N UA L R E V I E W | 7
CO N SO LI DATE D S TATE M E NT S O F CO N D ITI O N
Dollars in thousands, except per share data
Assets
Cash and due from banks
Interest bearing deposits with banks
Cash and Cash Equivalents
Securities available for sale
Securities held to maturity (fair value $92,082 in 2013 and $50,980 in 2012)
Loans held for sale
Loans, net of allowance for loan losses ($16,091 in 2013 and $16,825 in 2012)
Premises and equipment
Restricted investment in bank stocks
Investment in bank-owned life insurance
Investments in low-income housing partnerships
Goodwill
Intangible assets
Foreclosed assets held for resale
Other assets
TOTAL ASSETS
Liabilities
Deposits:
Non-interest bearing
Interest bearing
Total Deposits
Short-term borrowings
Long-term borrowings
Other liabilities
TOTAL LIABILITIES
Stockholders’ Equity
Preferred stock (par value $2.50; 20,000,000 shares authorized;
no shares outstanding)
Common stock (par value $2.50; 20,000,000 shares authorized;
6,053,911 and 6,027,968 shares issued in 2013 and 2012,
respectively; 5,991,311 and 5,965,368 shares outstanding
in 2013 and 2012, respectively)
Treasury stock, at cost (62,600 shares in 2013 and 2012)
Additional paid-in capital
Retained earnings
Accumulated other comprehensive income (loss)
TOTAL STOCKHOLDERS’ EQUITY
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
December 31
2013
2012
$ 1 3 ,963 $ 1 9 ,078
3 2 ,307
4 , 1 53
5 1 ,385
1 8 , 1 1 6
1 65 ,790
1 2 9 ,983
50 , 1 59
94 ,373
6 ,687
496
69 1 ,3 1 1
7 1 2 ,55 7
1 5 , 1 3 1
1 5 ,99 1
5 , 3 1 8
6 ,86 1
3 1 , 1 2 2
32 ,23 7
5 ,440
4 ,6 87
6 ,308
6 ,308
2 ,409
1 ,845
4 ,24 7
1 ,762
20 ,83 1
1 4 ,688
$ 1 046 ,047 $ 1 049 , 995
,
,
$ 1 2 8 ,0 1 1 $ 1 1 9, 297
7 1 4, 879
6 72 ,632
834, 1 76
800 ,643
49 ,052
82 ,703
6 ,847
939 ,245
47, 303
5 9, 954
7, 298
948, 7 3 1
—
—
1 5,070
1 5 ,1 3 5
(
)
)
(
7 2 8
7 2 8
9 ,628
9,246
77,888
82 ,66 1
(
)
2 1 2
1 06
1 06 ,802
1 0 1 , 2 64
$1 046 ,047 $1 049, 9 9 5
,
,
See the consolidated financial statements and accompanying notes presented in the Corporation’s Annual Report on Form 10-K.
8 | N E W H O R IZO N S B EC KO N
CO N SO LI DATE D S TATE M E NT S O F I N CO M E
Dollars in thousands, except per share data
Interest Income
Loans, including fees
Securities:
Taxable
Tax-exempt
Dividends
Other
TOTAL INTEREST INCOME
Interest Expense
Years Ended December 31
2013
2012
2011
$32,084
$33,990 $ 34,493
4, 2 30
1, 1 97
2 2
6 8
3 7,6 0 1
4,8 7 6
1 ,45 7
2 7
89
40,43 9
6 ,006
1 ,25 2
1 3
68
4 1 ,832
Deposits
Short-term borrowings
Long-term borrowings
TOTAL INTEREST EXPENSE
NET INTEREST INCOME
PROVISION FOR LOAN LOSSES
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES
2, 1 7 7
6 1
1 , 7 5 1
3,9 89
33,6 1 2
1 ,4 50
32, 1 6 2
3 ,44 1
76
2,5 7 8
6,095
34,344
4,6 7 5
29,66 9
4, 457
9 1
2 , 9 1 4
7 , 462
34, 370
5 , 435
28, 935
Other Income
Service charges on deposit accounts
Income from fiduciary activities
Earnings on investment in bank-owned life insurance
Gain on life insurance proceeds
Gains on sales or calls of securities
Service charges on ATM and debit card transactions
Commissions from insurance sales
Other
TOTAL OTHER INCOME
Other Expenses
Salaries and employee benefits
Net occupancy
Equipment
Professional services
Other tax
Supplies and postage
Marketing and corporate relations
FDIC and regulatory
Intangible assets amortization
Foreclosed real estate expense (income)
Other operating
TOTAL OTHER EXPENSES
INCOME BEFORE INCOME TAXES
PROVISION FOR INCOME TAXES
NET INCOME
Per Share Data
Basic earnings
Cash dividends paid
2,2 46
1,2 99
9 7 5
—
—
1 ,4 34
4,6 7 1
1 ,0 78
1 1 , 7 03
2 ,43 3
1 ,2 2 4
98 1
6 3
7
1 ,2 9 1
4,8 3 5
1 ,03 3
1 1 ,86 7
2 ,4 1 8
1, 396
968
—
1
1 , 2 36
4,824
894
1 1 , 7 37
1 8,9 50
1 ,9 5 7
2,8 26
8 95
90 1
5 8 3
3 96
7 68
6 4 1
5 76
3,5 2 2
32,0 1 5
1 1 ,8 50
2,5 35
$ 9, 3 1 5
1 8,5 5 3
1 , 95 2
2 ,5 3 7
8 2 5
8 3 3
63 4
3 7 2
84 3
64 1
(
)
1 1 9
3 ,2 60
30, 3 3 1
1 1 , 205
2 ,3 1 9
$ 8 ,88 6
1 7 , 1 38
2 ,043
2 ,620
9 1 1
803
640
478
1 ,026
64 1
725
2 , 99 1
30,0 1 6
1 0,656
2 , 1 54
$ 8 ,502
$ 1.56
$ 0.76
$ 1.4 9 $
$ 0.76
1.43
$ 0.76
2 01 3 A N N UA L R E V I E W | 9
B OA R DS O F D I R EC TO R S
ACNB Corporation and ACNB Bank Boards of Directors
Frank Elsner, III
Owner & Managing Director
Donna M. Newell
President & Chief
Thomas A. Ritter
President & Chief
Alan J. Stock
Owner
ODT Global, LLC
Executive Officer
Executive Officer
Eicholtz Company
Chairman of the Board
NTM Engineering, Inc.
ACNB Corporation
Vice Chairman
ACNB Corporation
and ACNB Bank
Scott L. Kelley, Esquire
President
Stonesifer and Kelley, P.C.
James J. Lott
President
J. Emmett Patterson
President & Owner
JDCS Enterprise
Daniel W. Potts
Director of Business
Development
and ACNB Bank
Marian B. Schultz
Retired Dean
Shippensburg University
David L. Sites
Owner & Managing Partner
Global Financial Services
Realty Leasing &
Bonnie Brae Fruit Farms, Inc.
Capgemini
Management Co.
ACNB Corporation
and ACNB Bank
Harry L. Wheeler
Retired Proprietor
Wheeler Drywall
James E. Williams
President
C.E. Williams Sons, Inc.
Robert W. Miller
Vice President
Miller, Brown, Ohm &
Associates, P.C.
ACNB Bank Honorary Directors
Dana P. Brandt
J. Thomas Derick
Frank C. Egger
Richard L. Galusha
William B. Lower
Mervin J. Morrison
W. Irvin Nelson
Ralph S. Sandoe
L. Robert Snyder
Russell Insurance Group, Inc. Board of Directors
Frank Elsner, III
Lynda L. Glass
Daniel W. Potts
Thomas A. Ritter
Frank C. Russell, Jr.
1 0 | N E W H O R IZO N S B EC KO N
O FFI C E R S
ACNB Corporation
Frank Elsner, III
Chairman of the Board
Thomas A. Ritter
President &
Lynda L. Glass
Executive Vice President,
David W. Cathell
Executive Vice President,
Chief Executive Officer
Secretary &
Treasurer &
Chief Governance Officer
Chief Financial Officer
ACNB Bank
Frank Elsner, III
Chairman of the Board
Lynda L. Glass
Executive Vice President,
Laurie A. Laub
Senior Vice President &
Douglas A. Seibel
Senior Vice President
Secretary &
Chief Risk Officer
James P. Helt
Executive Vice President
Banking Services
Sandra A. Deaner
Senior Vice President
Human Resources
Chief Credit Officer
Commercial Lending
Dorothy K. Puhl
Senior Vice President
Thomas R. Stone
Senior Vice President
Information Systems
Retail Banking
Carl L. Ricker
Senior Vice President
Retail Lending
Scott E. Hartlaub
L. John Hicks
Dennis R. Hollinger
Michelle N. Paulnock
R. Mark Purdy
Lauren L. Shutt
Thomas A. Ritter
President &
Chief Executive Officer
David W. Cathell
Executive Vice President,
Treasurer &
Chief Financial Officer
First Vice Presidents
Karen B. Arthur
Barry C. Dillman
Kathy S. Hansel
Vice Presidents
Mark P. Bernier
Cara Lynn Clabaugh
David W. Deaner
Claire M. Forbush
Stephen C. Hawbaker
Vickie L. Hoffheins
Gary R. Holder
Leslie R. Horn
Helen A. Jahn
John E. Kashner
Beth W. Lesko
Debra T. Little
Jill M. McNeil
Donald C. McVay
Scott A. Miller
Jeffrey A. Pottorff
Edward C. Price, Jr.
Gary W. Rappoldt
Wendy D. Roth
James E. Showvaker
Debra T. Sites
Rhonda L. Winterstein
Merle J. Zehr
Christina D. Ziser
Assistant Vice Presidents
Brian T. Adair
Kevin L. Cook
Andrée V. Dennis
Carolyn M. Dull
Kim D. Elmo
Kimberly S. Flickinger
Jacqueline A. Grasley
Carolyn E. Groft
Edward J. Groft
Barbara D. Guise
Jane E. Gwyn
William A. Kauffman
Susan R. Lang
George F. Marguglio
Laura L. McCusker
Celeste M. Miller
Shelby L. Pentz
Karen J. Redding
Susan M. Saylor
Christine R. Settle
Jody M. Shealer
Lisa A. Smith
Jeffrey B. Stambaugh
Tina M. Steckler
Ruby L. Sullivan
Russell Insurance Group, Inc.
Frank C. Russell, Jr.
President &
Chief Executive Officer
Daniel J. Coughlin
Vice President
David W. Cathell
Vice President & Treasurer
Lynda L. Glass
Vice President & Secretary
2 01 3 A N N UA L R E V I E W | 1 1
O FFI C E LO C ATI O N S
ACNB Bank
Arendtsville
Arendtsville Office
101 Main Street
Dillsburg
Dillsburg Office
3 Tristan Drive
Lincoln Square Office
2 Chambersburg Street
McSherrystown
McSherrystown Office
Gettysburg, PA 17325
369 Main Street
Arendtsville, PA 17303
Dillsburg, PA 17019
McSherrystown, PA 17344
Bendersville
Bendersville Office
East Berlin
East Berlin Office
101 North Main Street
1677 Route 194 North
Bendersville, PA 17306
East Berlin, PA 17316
Biglerville
Biglerville Office
Fairfield/Carroll Valley
Fairfield/Carroll
3459 Biglerville Road
Valley Office
Biglerville, PA 17307
4910 Fairfield Road
Cashtown
Franklin Township Drive-Up
10 High Street
Fairfield, PA 17320
Gettysburg
Adams Commerce
Cashtown, PA 17310
Center Office
100 V-Twin Drive
Gettysburg, PA 17325
Chambersburg
Chambersburg Loan Office
946 Lincoln Way East
Chambersburg, PA 17201
North Gettysburg Office
675 Old Harrisburg Road
Gettysburg, PA 17325
West Gettysburg Office
545 West Middle Street
Gettysburg, PA 17325
Hanover
North Hanover Office
1127 Eichelberger Street
Hanover, PA 17331
South Hanover Office
865 Baltimore Street
Hanover, PA 17331
Littlestown
Littlestown Office
444 West King Street
Littlestown, PA 17340
New Oxford
New Oxford Office
318 Lincoln Way East
New Oxford, PA 17350
Newville
Newville Office
39 Carlisle Road
Newville, PA 17241
Spring Grove
Spring Grove Office
221 North Main Street
Spring Grove, PA 17362
York Springs
York Springs Office
202 Main Street
York Springs, PA 17372
Russell Insurance Group, Inc.
Westminster Office
2526 West Liberty Road
Germantown Office
19500 Amaranth Drive, Suite C
Westminster, MD 21157
Germantown, MD 20874
Russell Insurance Group, Inc.
riginsurance.com
Toll Free 1.800.289.4097
CO NTAC T I N FO R M ATI O N
ACNB Bank
acnb.com
acnbbusiness.com
Customer Contact Center
Toll Free 1.888.334.ACNB (2262)
24-Hour Telephone Banking Line
Toll Free 1.888.338.ACNB (2262)
1 2 | N E W H O R IZO N S B EC KO N
Forward-Looking Statements
In addition to historical information, this document contains 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 new laws and regulations, specifically the
impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act; impacts of the new capital and liquidity requirements of
the Basel III standards and other regulatory pronouncements, regulations and rules; ineffectiveness of the business strategy due to
changes in current or future market conditions; future actions or inactions of the United States government, including 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 deterioration and the prolonged economic malaise on 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; interest rate movements;
difficulties in integrating and operating distinct business operations, including information technology difficulties; challenges in
establishing and maintaining operations in new markets; volatilities in the securities markets; and, slow economic conditions. 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 Securities and Exchange
Commission, 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 Securities and Exchange Commission.
16 LINCOLN SQUARE • PO BOX 3129 • GETTYSBURG, PA 17325 • ACNB.COM