ACNB Corporation reported net income of $7.2 million, or $0.84 diluted earnings per share, for the three months ended September 30, 2024. This compares to net income of $9.0 million, or $1.06 diluted earnings per share, for the same period in 2023.
Financial results for the third quarter of 2024 were impacted by $1.1 million in merger-related expenses due to the pending acquisition of Traditions Bancorp, Inc. Net interest income for the quarter totaled $20.9 million, a decrease of 3.7% compared to the third quarter of 2023, with the fully taxable equivalent net interest margin decreasing by 24 basis points to 3.77%.
Noninterest income increased by 8.5% to $6.8 million, driven by wealth management income and insurance commissions. However, noninterest expense rose by 11.7% to $18.2 million, primarily due to merger-related and salaries and employee benefits expenses. Total loans outstanding increased by 3.8% year-over-year to $1.68 billion, while non-performing loans increased to $6.6 million, or 0.39% of total loans.
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