GETTYSBURG, Pa., Dec. 23, 2019 (GLOBE NEWSWIRE) — A Special Meeting of Shareholders of ACNB Corporation (NASDAQ: ACNB) (“ACNB”) was held on Friday, December 20, 2019, at the ACNB Corporation Operations Center, 100 V-Twin Drive, Gettysburg, PA. ACNB is the financial holding company for the wholly-owned subsidiaries of ACNB Bank, Gettysburg, PA, and Russell Insurance Group, Inc., Westminster, MD.
The purpose of the Special Meeting of Shareholders was to consider and vote upon a proposal to approve the issuance of shares of ACNB common stock in connection with the proposed acquisition of Frederick County Bancorp, Inc. (OTCPink: FCBI) (“FCBI”), headquartered in Frederick, MD, through the merger of FCBI with and into a subsidiary of ACNB pursuant to the Agreement and Plan of Reorganization dated as of July 1, 2019. ACNB shareholders voted in favor of the proposal to issue shares of ACNB common stock in connection with the merger.
“The Board of Directors believes that the proposed acquisition of Frederick County Bancorp, Inc. and its wholly-owned subsidiary, Frederick County Bank, is in the best interests of ACNB Corporation and its shareholders,” stated ACNB Corporation President & Chief Executive Officer James P. Helt.
“In acquiring Frederick County Bancorp, Inc., ACNB Corporation seeks to advance its strategic and financial growth plans through expansion of its community banking presence in the vibrant and growing market in Frederick, Maryland. We are grateful…