GETTYSBURG, Pa.--(BUSINESS WIRE)--ACNB Corporation (NASDAQ: ACNB), the parent financial holding company of ACNB Bank, a Pennsylvania state-chartered, FDIC insured community bank headquartered in Gettysburg, PA, announces that Thomas A. Ritter has informed the Board of Directors of his intention to retire from the current positions of President & Chief Executive Officer of ACNB Corporation and Chief Executive Officer of ACNB Bank effective May 5, 2017. Following retirement as an executive officer of the Corporation and Bank, he will continue to serve as a Director of both ACNB Corporation and ACNB Bank.
Mr. Ritter, age 64, was appointed President of ACNB Corporation and President & Chief Executive Officer of ACNB Bank on January 1, 2001. Effective December 31, 2003, he was also designated as ACNB Corporation’s Chief Executive Officer. Mr. Ritter was President of ACNB Bank from January 1, 2001, until September 1, 2015. On September 1, 2015, he relinquished his position as President of ACNB Bank with the appointment of his successor, James P. Helt, as part of ACNB Corporation’s and ACNB Bank’s long-term strategic succession planning process.
Under Mr. Ritter’s leadership, the Corporation has grown from $567 million in assets to more than $1.2 billion in assets at December 31, 2016. ACNB Bank now has a retail banking network of 22 offices in four counties in southcentral Pennsylvania. In 2005, ACNB Corporation acquired Russell Insurance Group, Inc., a full-service insurance agency headquartered in Westminster, MD. Further, as previously announced, ACNB Corporation entered into a definitive agreement dated November 21, 2016, with New Windsor Bancorp, Inc., which poises ACNB Corporation and ACNB Bank to strategically expand its community banking presence into the northern Maryland market.
Concurrent with Mr. Ritter’s announcement, the Board of Directors has named Mr. Helt to be his successor as President & Chief Executive Officer of ACNB Corporation and Chief Executive Officer of ACNB Bank effective May 5, 2017. Mr. Helt has been with the organization since 2008 when he was named Executive Vice President of Banking Services of ACNB Bank. On September 1, 2015, Mr. Helt was appointed to his current position of President of ACNB Bank, and was also elected to ACNB Bank’s Board of Directors.
Speaking on behalf of the ACNB Corporation Board of Directors, Chairman Frank Elsner, III stated, “Mr. Ritter has been an instrumental part of the organization’s success, and we thank him for his dedication and service to our shareholders, customers, employees, and local communities. We wish him only the best in his retirement.”
Mr. Elsner added, “We are pleased to announce James P. Helt as Mr. Ritter’s successor. He has been a valuable member of the executive management team since he joined ACNB Bank in 2008. Mr. Helt’s succession to President & Chief Executive Officer of ACNB Corporation and Chief Executive Officer of ACNB Bank was determined after careful consideration by the Board of Directors to ensure that ACNB Corporation and ACNB Bank will have strong, experienced, and committed leadership and management for the future.”
Mr. Elsner continued, “It has been a top priority of the Board of Directors, as part of our ongoing strategic planning during the past few years, to develop the breadth and depth of our community bank management team. We look forward to working with Mr. Helt in continuing the organization’s growth and leadership in the communities it serves, while maintaining the rich culture and tradition of valued service to our customers.”
Mr. Helt lives in Hanover, PA, with his wife and their two daughters. Active in the local community, Mr. Helt is a member of Trinity United Church of Christ in Hanover and currently serves as chairman of the board of the Visiting Nurse Association of Hanover & Spring Grove. He has also been involved with several organizations over the years including the Spring Grove Scholarship Foundation, TruNorth Wellness Services, Sweet Charities, Rotary Club of Hanover, Hanover Lions Club, and Hanover Jaycees.
ACNB Corporation, headquartered in Gettysburg, PA, is the financial holding company for the wholly-owned subsidiaries of ACNB Bank, Gettysburg, PA, and Russell Insurance Group, Inc., Westminster, MD. As of December 31, 2016, ACNB Corporation had total assets of $1.21 billion. Originally founded in 1857 and now celebrating its 160th anniversary, ACNB Bank serves its marketplace via a network of 22 retail banking offices located in the four southcentral Pennsylvania counties of Adams, Cumberland, Franklin and York. In addition, the Bank operates a loan office in York, PA. Russell Insurance Group, Inc. offers a broad range of commercial and personal insurance lines with licenses in 42 states, including Pennsylvania and Maryland, through offices in Westminster, Carroll County, and Germantown, Montgomery County, MD. For more information regarding ACNB Corporation and its subsidiaries, please visit www.acnb.com.
New Windsor Bancorp, Inc. and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of New Windsor Bancorp, Inc. in connection with the merger. Information about the directors and executive officers of New Windsor Bancorp, Inc. and their ownership of New Windsor Bancorp, Inc. common stock may be obtained by reading the proxy statement/prospectus regarding the merger when it becomes available. Additional information regarding the interests of these participants and other persons who may be deemed participants in the merger may be obtained by reading the joint proxy statement/prospectus regarding the merger when it becomes available.
