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STOCKHOLDERS' EQUITY | 12 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
STOCKHOLDERS' EQUITY | STOCKHOLDERS’ EQUITY Accumulated Other Comprehensive Loss Other comprehensive income includes unrealized gains and losses on investment securities AFS and unrealized gains and losses on changes in funded status of the pension plan which are also recognized as separate components of equity. The components of the accumulated other comprehensive loss, net of taxes, are as follows:
(In thousands) | Unrealized (Losses) Gains on Securities |  | Pension Liability |  | Accumulated Other Comprehensive Loss
Balance at December 31, 2021 | $ | (3,474) |  |  | $ | (6,071) |  |  | $ | (9,545) |
Amounts reclassified from accumulated other comprehensive loss, net of tax: |  |  |  |  |
Unrealized losses on AFS securities, net of tax | (50,192) |  |  | — |  |  | (50,192) |
Realized losses on securities, net of tax | 193 |  |  | — |  |  | 193 |
Amortization of unrealized losses on securities transferred to HTM, net of tax | 739 |  |  | — |  |  | 739 |
Amortization of pension net loss, transition liability and prior service cost, net of tax | — |  |  | 317 |  |  | 317 |
Unrecognized pension net gain, net of tax | — |  |  | 476 |  |  | 476 |
Net current period other comprehensive (loss) income | (49,260) |  |  | 793 |  |  | (48,467) |
Balance at December 31, 2022 | (52,734) |  |  | (5,278) |  |  | (58,012) |
Amounts reclassified from accumulated other comprehensive loss, net of tax: |  |  |  |  |
Unrealized gain on AFS securities, net of tax | 6,814 |  |  | — |  |  | 6,814 |
Realized losses on securities, net of tax | 4,052 |  |  | — |  |  | 4,052 |
Amortization of unrealized losses on securities transferred to HTM, net of tax | 916 |  |  | — |  |  | 916 |
Amortization of pension net loss, transition liability and prior service cost, net of tax | — |  |  | 258 |  |  | 258 |
Unrecognized pension net gain, net of tax | — |  |  | 1,063 |  |  | 1,063 |
Net current period other comprehensive income | 11,782 |  |  | 1,321 |  |  | 13,103 |
Balance at December 31, 2023 | $ | (40,952) |  |  | $ | (3,957) |  |  | $ | (44,909) |
Dividend Reinvestment Plan In January 2011, the Corporation offered stockholders the opportunity to participate in the ACNB Corporation Dividend Reinvestment and Stock Purchase Plan. The plan provides registered holders of ACNB Corporation common stock with a convenient way to purchase additional shares of common stock by permitting participants in the plan to automatically reinvest cash dividends on all or a portion of the shares owned and to make quarterly voluntary cash payments under the terms of the plan. Participation in the plan is voluntary, and there are eligibility requirements to participate in the plan. During 2023, 20,361 shares were issued under this plan with proceeds in the amount of $721 thousand. During 2022, 20,908 shares were issued under this plan with proceeds in the amount of $713 thousand. Proceeds are used for general corporate purposes. Stock Incentive Plan On May 1, 2018, stockholders approved and ratified the ACNB Corporation 2018 Omnibus Stock Incentive Plan, effective as of March 20, 2018, in which awards shall not exceed, in the aggregate, 400,000 shares of common stock, plus any shares that were authorized, but not issued, under the ACNB Corporation 2009 Restricted Stock Plan. The ACNB Corporation 2009 Restricted Stock Plan expired by its own terms after 10 years on February 24, 2019. No further shares may be issued under this plan. The remaining 174,055 shares were transferred to the ACNB Corporation 2018 Omnibus Stock Incentive Plan. As of December 31, 2023, 99,381 shares were issued under this plan, of which 32,993 were unvested. Plan expense is recognized over the vesting period of the stock issued and resulted in $1.0 million and $729 thousand of compensation expense during the years ended December 31, 2023 and 2022, respectively. Share Repurchase Plan On October 24, 2022, the Corporation announced that the Board of Directors approved on October 18, 2022, a plan to repurchase, in open market and privately negotiated transactions, up to 255,575, or approximately 3%, of the outstanding shares of the Corporation’s common stock. This new common stock repurchase program replaces and supersedes any and all earlier announced repurchase plans. There were 61,066 treasury shares purchased under this plan during the year ended December 31, 2023.

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