ACNB CORPACNB

ACNB CORP Goodwill & Intangibles Disclosure

10-KFiled Mar 14, 20251 min read
GOODWILL AND INTANGIBLE ASSETS
Goodwill totaled $44.2 million as of both December 31, 2024 and 2023. Goodwill, which has an indefinite useful life, is evaluated for impairment annually or more frequently if events and circumstances indicate that the asset might be impaired. The Corporation did not identify any goodwill impairment on the Bank or ACNB Insurance Services from its most recent testing performed as of November 30, 2024 using the qualitative approach. There were no impairment losses or accumulated impairment losses associated with goodwill as of December 31, 2024 and 2023.
The carrying value and accumulated amortization of the intangible assets and core deposit intangibles are as follows:
20242023
(In thousands)Gross
Carrying
Amount		Accumulated AmortizationGross
Carrying
Amount		Accumulated Amortization
ACNB Insurance Services - amortized intangible assets$16,331 $9,658 $16,331 $8,956 
Core deposit intangibles5,978 4,813 5,978 4,271 
$22,309 $14,471 $22,309 $13,227 
Amortization expense was $1.2 million, $1.4 million and $1.5 million for the years ended December 31, 2024, 2023 and 2022, respectively.
The following table shows the amortization expense of the intangible assets for future periods:
Year (In thousands)
2025$1,115 
20261,004 
2027857 
2028711 
2029646 
Thereafter3,505 
$7,838 
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Historical Timeline

Fiscal YearFiled
2024Mar 14, 2025Showing above
2022Mar 3, 2023

About Goodwill & Intangibles Disclosures

Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.

Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.

Other Available Disclosures

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