ACNB Corporation reported a net loss of $272 thousand, or $0.03 diluted loss per share, for the three months ended March 31, 2025. This contrasts with net income of $6.8 million, or $0.80 diluted earnings per share, for the first quarter of 2024.
The net loss was primarily driven by two discrete, acquisition-related items: a $4.2 million provision for credit losses on non-PCD loans acquired from Traditions (net of taxes) and $6.2 million in merger-related expenses (net of taxes). These one-time costs impacted the reported earnings.
Despite the net loss, net interest income increased by $6.5 million to $27.1 million, and the fully taxable equivalent net interest margin improved by 30 basis points to 4.07%, largely due to the Traditions acquisition. Total assets grew to $3.27 billion, total loans to $2.32 billion, and deposits to $2.54 billion, reflecting the expanded balance sheet post-acquisition.
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