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PRESS RELEASE FOR IMMEDIATE RELEASE ACNB Corporation ACNB CORPORATION REPORTS Contact : Lynda L. Glass EVP / Secretary & Chief Governance Officer 717.339.5085 lglass@acnb.com 2021 THIRD QUARTER AND YEAR - TO - DATE FINANCIAL RESULTS 2021 Third Quarter and Year - To - Date Highlights • • • Net income for the three months and quarter ended September 30 , 2021 , totaled $ 7,360,000 , which is an increase of $ 589,000 or 8.7 % over comparable period results for the three months ended September 30 , 2020. Basic earnings per share was $ 0.84 and $ 0.79 for the three months ended September 30 , 2021 and 2020 , respectively , which is an increase of $ 0.05 or 6.3 % . Net income for the nine months ended September 30 , 2021 , totaled $ 23,339,000 , which is an increase of $ 11,994,000 or 105.7 % over comparable period results for the nine months ended September 30 , 2020. Basic earnings per share was $ 2.67 and $ 1.32 for the nine months ended September 30 , 2021 and 2020 , respectively , which is an increase of $ 1.35 or 102.3 % . The higher net income for the first three quarters of 2021 was primarily a result of higher fee income and less loan loss provision in 2021 , as well as one - time merger expenses related to the acquisition of Frederick County Bancorp , Inc. ( FCBI ) in 2020 . Total loans outstanding were $ 1,486,886,000 at September 30 , 2021 , as compared to $ 1,637,784,000 at December 31 , 2020 , for a decrease of 9.2 % . The decrease in loans is largely attributable to the forgiveness of Paycheck Protection Program ( PPP ) loans , sale of most new residential mortgages , and payoff of loans in the residential mortgage , consumer and government lending portfolios . Conversely , new loan production for all business lines totaled $ 315,972,000 for the nine months ended September 30 , 2021 , which is an increase of 25.0 % over the same period of 2020 . Total deposits were $ 2,417,561,000 at September 30 , 2021 , as compared to $ 2,185,525,000 at December 31 , 2020 , for an increase of 10.6 % . The increase in deposits is primarily a result of continued , slow economic conditions in the Coronavirus Disease 2019 ( COVID - 19 ) environment increasing the level of deposits held by existing and new customers , including the segment of municipal depositors .