ACNB Corp Completes Acquisition of CNB Financial Corp

Ticker: ACNB · Form: 8-K · Filed: Aug 23, 2024 · CIK: 715579

Sentiment: neutral

Topics: acquisition, merger, financials

Related Tickers: ACNB, CCNE

TL;DR

ACNB Corp just bought CNB Financial Corp, stock stays ACNB on Nasdaq.

AI Summary

ACNB Corporation announced on August 23, 2024, that it has completed its previously announced acquisition of CNB Financial Corporation. The transaction was approved by shareholders of both companies and regulatory bodies. The combined entity will operate under the ACNB Corporation name and its common stock will continue to trade on the Nasdaq Capital Market under the ticker symbol 'ACNB'.

Why It Matters

This acquisition signifies a significant consolidation in the banking sector, potentially leading to expanded market reach and operational efficiencies for the combined entity.

Risk Assessment

Risk Level: medium — Acquisitions inherently carry integration risks, potential regulatory hurdles, and market reception uncertainties.

Key Players & Entities

FAQ

What is the effective date of the acquisition?

The acquisition was completed on August 23, 2024.

What is the name of the combined entity?

The combined entity will operate under the name ACNB Corporation.

Where will the combined company's stock be traded?

The common stock of the combined entity will continue to trade on the Nasdaq Capital Market.

What is the ticker symbol for the combined company?

The ticker symbol will remain 'ACNB'.

Were there any specific financial figures mentioned for the acquisition in this filing?

This filing does not provide specific dollar amounts for the acquisition, but confirms the completion of the transaction.

Filing Stats: 587 words · 2 min read · ~2 pages · Grade level 11.4 · Accepted 2024-08-23 08:59:48

Key Financial Figures

Filing Documents

01 Regulation FD Disclosure

ITEM 7.01 Regulation FD Disclosure ACNB Corporation (the "Company") is furnishing an Investor Presentation that the Company will present, in whole or in part, to investors and analysts from time to time on or after August 23, 2024. A copy of the Investor Presentation is attached hereto as Exhibit 99.1, and will also be made available on the Corporation's website at investor.acnb.com. The information in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall it be deemed subject to the requirements of amended Item 10 of Regulation S-K, nor shall it be deemed incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, regardless of any general incorporation language in such filing. The furnishing of this information hereby shall not be deemed an admission as to the materiality of any such information.

01 Financial Statements and Exhibits

ITEM 9.01 Financial Statements and Exhibits (d) Exhibits. Exhibit Number Description 99.1 ACNB Corporation Investor Presentation dated August 23, 2024 . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned, thereunto duly authorized. ACNB CORPORATION (Registrant) Dated: August 23, 2024 /s/ Kevin J. Hayes Kevin J. Hayes Senior Vice President/ General Counsel, Secretary & Chief Governance Officer

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