ACNB Corporation (NASDAQ:ACNB) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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ACNB Corporation (NASDAQ:ACNB) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ACNB Corporation (NASDAQ:ACNB) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On September24, 2018, ACNB Corporation (the “Corporation”) and Russell Insurance Group,Inc. (“RIG”), the wholly-owned subsidiary of the Corporation, provided Frank C. Russell,Jr., President& Chief Executive Officer of RIG, with written notice of nonrenewal of his employment agreement made among the Corporation, RIG and Mr.Russell dated January13, 2011 (the “Employment Agreement”). As a result of the notice of nonrenewal and to the terms of the Employment Agreement, it will end on December31, 2018. Also to the terms of the Employment Agreement, Mr.Russell submitted his resignation as a member of the Board of Directors of RIG effective December31, 2018. The termination of Mr.Russell’s Employment Agreement is in connection with succession planning with regards to the management of RIG. Currently, it is expected that Mr.Russell will continue as President& Chief Executive Officer of RIG at his present salary and benefits for the foreseeable future until such time as a successor is appointed.


About ACNB Corporation (NASDAQ:ACNB)

ACNB Corporation is a financial holding company. The Company’s banking operations are conducted through its operating subsidiary, ACNB Bank (the Bank), and offers a range of property and casualty, life and health insurance to both commercial and individual clients through its subsidiary, Russell Insurance Group, Inc. (RIG). The Company has two segments: the Bank and RIG. RIG is managed separately from the banking segment, which includes the Bank and related financial services that the Company offers through its banking subsidiary. Through its banking and nonbanking subsidiaries, the Company provides a range of banking and financial services to individuals and businesses, including commercial and retail banking, trust and investment management, and insurance. ACNB Bank is a commercial bank. ACNB Bank’s service delivery channels for its customers include the automated teller machine (ATM) network, customer contact center, online, telephone and mobile banking.