ACNB CORP
For the period ended Dec 31, 2024. Filed Mar 14, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 14, 2025
ACNB$66.79+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Years Ended December 31, | |||
|---|---|---|---|
| (In thousands) | 2024 | 2023 | 2022 |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net income | $31,846 | $31,688 | $35,752 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Gain on sales of loans originated for sale | (301) | (56) | (487) |
| Gain on sales of assets held for sale | — | (337) | — |
| Loss on sale of premises and equipment | — | — | 41 |
| Earnings on investment in bank-owned life insurance | (1,979) | (1,878) | (1,532) |
| (Gain) loss on sales or calls of securities | (69) | 5,240 | 234 |
| Loss (gain) on equity securities | 9 | (18) | 298 |
| Gain on sale of low-income housing partnership | — | — | (421) |
| Restricted stock compensation expense | 1,263 | 1,004 | 729 |
| Depreciation and amortization | 3,033 | 3,362 | 3,796 |
| (Reversal of) provision for credit losses and reversal of unfunded commitments | (2,763) | 844 | — |
| Net amortization of investment securities premiums | 1,702 | 690 | 2,156 |
| Increase in interest receivable | (109) | (1,165) | (1,395) |
| Increase (decrease) in interest payable | 757 | 743 | (58) |
| Mortgage loans originated for sale | (13,090) | (2,646) | (36,664) |
| Proceeds from sales of loans originated for sale | 13,245 | 2,545 | 39,221 |
| Decrease (increase) in other assets | 5,351 | (7,449) | (4,303) |
| Deferred income tax | 779 | 2,376 | 924 |
| Increase in other liabilities | 108 | 5,659 | 910 |
| Net Cash Provided by Operating Activities | 39,782 | 40,602 | 39,201 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Proceeds from calls/maturities of investment securities held to maturity | 727 | 1,097 | 2,903 |
| Proceeds from calls/maturities of investment securities available for sale | 44,707 | 32,594 | 58,578 |
| Proceeds from sales of investment securities held to maturity | — | — | 1,054 |
| Proceeds from sales of investment securities available for sale | 14,336 | 125,241 | 3,129 |
| Proceeds from sales of equity securities | — | 592 | 811 |
| Purchase of investment securities available for sale | — | (48,838) | (284,336) |
| Purchase of investment securities held to maturity | — | — | (22,204) |
| Purchase of equity securities | — | — | (206) |
| (Purchase)/redemption of restricted investment in bank stocks | (1,176) | (8,048) | 674 |
| Net increase in loans | (55,206) | (89,589) | (71,829) |
| Proceeds from sale of low-income housing partnerships | — | — | 421 |
| Purchase of bank-owned life insurance | — | — | (12,200) |
| Acquisition of insurance books of business/agency | — | (174) | (7,800) |
| Capital expenditures | (960) | (1,168) | (1,811) |
| Proceeds from sales of premises and equipment | — | — | 1,093 |
| Proceeds from sales of assets held for sale | — | 3,730 | — |
| Net Cash Provided by (Used in) Investing Activities | 2,428 | 15,437 | (331,723) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Net decrease in noninterest-bearing deposits | (48,829) | (94,717) | (28,311) |
| Net decrease in interest-bearing deposits | (20,483) | (242,445) | (199,103) |
| Net (decrease) increase in short-term borrowings | (41,056) | 14,928 | 6,752 |
CONSOLIDATED STATEMENTS OF CASH FLOWS - CONTINUED
| Years Ended December 31, | |||
|---|---|---|---|
| (In thousands) | 2024 | 2023 | 2022 |
| Proceeds from long-term borrowings | 60,000 | 175,000 | 1,500 |
| Repayments on long-term borrowings | — | — | (15,200) |
| Dividends paid | (10,713) | (9,702) | (9,117) |
| Common stock repurchased | (249) | (2,027) | (6,682) |
| Common stock issued, net of restricted stock forfeitures and withheld for taxes | 424 | 721 | 713 |
| Net Cash Used In Financing Activities | (60,906) | (158,242) | (249,448) |
| Net Decrease in Cash and Cash Equivalents | (18,696) | (102,203) | (541,970) |
| CASH AND CASH EQUIVALENTS — BEGINNING | 65,958 | 168,161 | 710,131 |
| CASH AND CASH EQUIVALENTS — ENDING | $47,262 | $65,958 | $168,161 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid for interest | $23,097 | $7,155 | $3,682 |
| Cash paid for income taxes | 6,628 | 10,030 | 7,225 |
| Supplemental disclosures of certain noncash activities: | |||
| Recognition of operating lease right of use assets | $— | $126 | $472 |
| Recognition of operating lease liabilities | — | 126 | 472 |
| Investments transferred from available for sale to held to maturity | — | — | 39,683 |
| Premises and equipment transferred to fixed assets held for sale | — | — | 3,393 |
| Loans transferred to foreclosed assets held for resale and other foreclosed transactions | 32 | — | 474 |
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