ACNB Corporation (NASDAQ: ACNB) (“ACNB”) or the “Corporation”), the financial holding company for ACNB Bank and ACNB Insurance Services, Inc., and Traditions Bancorp, Inc. (OTCPink: TRBK) (“Traditions”), holding company for Traditions Bank, York, Pennsylvania, announced Wednesday the execution of a definitive merger agreement whereby ACNB will acquire Traditions and Traditions Bank in an all-stock transaction.
Speaking on behalf of ACNB, James P. Helt, President and CEO, stated that “ACNB
Corporation has been executing a multi-year strategic plan to be the community bank of choice in
the markets that we serve and thereby deliver superior financial results, performance and value to
our shareholders and other stakeholders. At the core of this strategic plan has been profitable
organic and inorganic growth. As demonstrated in today’s previously released Second Quarter of
2024 financial results press release, we continue to deliver on profitable organic growth in our core
community banking and insurance agency lines of business. The announcement of our proposed
strategic acquisition of Traditions and Traditions Bank is also in furtherance of this strategic plan.
This transaction will provide the resources to expand our presence in York County and enhance our
penetration in the vibrant and demographically compelling Lancaster County market.”
Speaking on behalf of Traditions, Eugene J. Draganosky, Traditions Bancorp, Inc. Chair
of the Board and Chief Executive Officer, said “ACNB and Traditions share common cultures,
values, vision, and operating philosophies of what a community bank can and should be in today’s
ever-changing business environment. For more than two decades, Traditions has done an
exceptional job of creating a premier community bank with an outstanding commercial banking team
and an industry-leading mortgage banking unit.”
Traditions Bank operates eight bank branch locations spanning York and Lancaster counties,
a loan production office in Cumberland County, and an operations center located at 226 Pauline
Drive, York, PA. Established in 2002, Traditions Bank is a full-service community bank serving
businesses, individuals, and community organizations. As of June 30, 2024, Traditions had total
assets of $859 million, total deposits of $738 million, and total loans of $673 million. Upon the
consummation of the strategic acquisition, ACNB Bank will operate former Traditions Bank
locations in the York and Lancaster County markets as “Traditions Bank, A Division of ACNB
Bank.” The current Traditions Bank administrative headquarters on Pauline Drive will continue to
serve as a regional sales and operations center.
ACNB Corporation, headquartered in Gettysburg, is the $2.46 billion financial holding
company for the wholly-owned subsidiaries of ACNB Bank, Gettysburg, PA, and ACNB Insurance
Services, Inc., Westminster, MD. Originally founded in 1857, ACNB Bank serves its marketplace
with banking and wealth management services, including trust and retail brokerage, via a network
of 26 community banking offices and three loan offices located in the Pennsylvania counties of
Adams, Cumberland, Franklin, Lancaster, and York, and the Maryland counties of Baltimore,
Carroll and Frederick. ACNB Insurance Services, Inc. is a full-service insurance agency with
licenses in 46 states. The agency offers a broad range of property, casualty, health, life, and
disability insurance, serving personal and commercial clients through office locations in
Westminster and Jarrettsville, MD, and Gettysburg.