Exhibit 99.2
UNAUDITED PRO FORMA COMBINED FINANCIAL STATEMENTS

The unaudited pro forma combined consolidated financial information has been prepared using the acquisition method of accounting under the provisions of the Financial Accounting Standards Board Accounting Standards Codification 805, “Business Combinations”, giving effect to the merger of Traditions Bancorp, Inc. (“Traditions”) with and into ACNB Corporation (“ACNB”), with ACNB as the surviving corporation. Under this method, Traditions assets and liabilities as of the date of the acquisition will be recorded at their respective fair values and added to those of ACNB. Any difference between the purchase price for Traditions and the fair value of the identifiable net assets acquired (including a core deposit intangible asset) will be recorded as goodwill. The goodwill resulting from the acquisition will not be amortized to expense but instead will be reviewed for impairment at least annually. Any core deposit intangible and other intangible assets with estimated useful lives to be recorded by ACNB in connection with the acquisition will be amortized to expense over such intangible asset’s estimated useful life. The financial statements of ACNB issued after the acquisition will reflect the results attributable to the acquired operations of Traditions beginning on the date of completion of the acquisition. The merger was effective on February 1, 2025.

The following unaudited pro forma combined consolidated financial information and accompanying notes are based on and should be read in conjunction with the following historical financial statements and accompanying notes:

•the historical audited consolidated financial statements of ACNB, included in ACNB’s Annual Report on Form 10-K, as of and for the year ended December 31, 2024; and

•the historical audited consolidated financial statements of Traditions as of and for the year ended December 31, 2024.
The unaudited pro forma combined consolidated financial information is provided for illustrative information purposes only. The unaudited pro forma combined consolidated financial information is not necessarily, and should not be assumed to be, an indication of the actual results that would have been achieved had the merger been completed as of the dates indicated or that may be achieved in the future.

The following unaudited pro forma combined consolidated statement of condition as of December 31, 2024, combines the audited consolidated statement of condition of ACNB as of December 31, 2024, with the audited statement of condition of Traditions as of December 31, 2024, giving effect to the transaction as if it had been consummated on December 31, 2024. The unaudited pro forma combined consolidated statement of income for the twelve months ended December 31, 2024, combines the audited consolidated statement of income of ACNB for the twelve months ended December 31, 2024, with the audited consolidated statement of income of Traditions for the twelve months ended December 31, 2024, giving effect to the transaction as if it had been consummated on January 1, 2024.













The unaudited pro forma financial data are qualified by the statements set forth under this caption and should not be considered indicative of the market value of ACNB common stock or the actual or future results of operations of ACNB for any period. Actual results may be materially different than the pro forma information presented.

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ACNB Corporation
Unaudited Pro Forma Combined Consolidated Statements of Condition as of December 31, 2024
(Dollars In Thousands, Except Per Share Data)
ACNB CorporationTraditions Bancorp, Inc.Transaction Accounting AdjustmentsACNB Corporation Pro Forma Combined
Assets
Cash and due from banks$16,352 $4,282 $— $20,634 
Interest-bearing deposits with banks30,910 37,587 (157)(2)68,340 
Total Cash and Cash Equivalents47,262 41,869 (157)88,974 
Equity Securities919 — — 919 
Securities available for sale, at fair value393,975 98,944 492,919 
Securities held to maturity64,578 — — 64,578 
Loans held for sale426 14,550 — 14,976 
Total loans, net of unearned income1,682,910 674,439 (25,978)(5)2,331,371 
Less: Allowance for credit losses(17,280)(4,045)(2,891)(6)(24,216)
Loans, net1,665,630 670,394 (28,869)2,307,155 
Premises and equipment, net25,454 7,311 (362)(7)32,403 
Right of use asset2,663 2,980 — 5,643 
Restricted investment in bank stocks10,853 3,326 — 14,179 
Investment in bank-owned life insurance81,850 16,340 — 98,190 
Investments in low-income housing partnerships877 13 — 890 
Goodwill44,185 — 20,149 (3)64,334 
Intangible assets, net7,838 — 18,855 (8)26,693 
Foreclosed assets held for resale438 — — 438 
Other assets47,882 14,390 4,093 (9)66,365 
Total Assets$2,394,830 $870,117 $13,709 $3,278,656 
Liabilities and Stockholders’ Equity
Deposits:
Noninterest-bearing$451,503 $113,851 $— $565,354 
Interest-bearing1,340,998 635,456 (215)(10)1,976,239 
Total Deposits1,792,501 749,307 (215)2,541,593 
Borrowings271,159 40,000 — 311,159 
Lease liability2,764 3,174 — 5,938 
Allowance for unfunded commitments1,394 118 852 (11)2,364 
Other liabilities23,739 9,572 7,084 (12)40,395 
Total Liabilities2,091,557 802,171 7,721 2,901,449 
Shareholders’ Equity
Preferred stock— — — — 
Common stock22,357 2,788 2,300 (4)27,445 
Treasury stock(11,203)— — (11,203)
Additional paid-in capital99,163 35,044 43,518 (4)177,725 
Retained earnings234,624 40,438 (50,154)(4)(6)(12)224,908 
Accumulated other comprehensive loss(41,668)(10,324)10,324 (4)(41,668)
Total Shareholders’ Equity303,273 67,946 5,988 377,207 
Total Liabilities and Shareholders’ Equity$2,394,830 $870,117 $13,709 $3,278,656 
Per Share Data
Common Shares Outstanding8,515,3472,788,164(752,894)(2)10,550,617
Book Value Per Common Share$35.61 $24.37 $— $35.75 
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ACNB Corporation
Unaudited Pro Forma Combined Consolidated Statements of Income for the Twelve Months ended December 31, 2024
(Dollars In Thousands, Except Per Share Data)
ACNB CorporationTraditions Bancorp, Inc.Transaction Accounting AdjustmentsACNB Corporation Pro Forma Combined
Interest and Dividend Income
Loans, including fees$91,779 $42,542 $8,458 (5)$142,779 
Investment securities11,884 1,955 — 13,839 
Dividends970 286 — 1,256 
Other2,832 365 — 3,197 
Total Interest and Dividend Income107,465 45,148 8,458 161,071 
Interest Expense
Deposits11,194 18,696 109 (10)29,999 
Borrowings12,660 1,965 — 14,625 
Total Interest Expense23,854 20,661 109 44,624 
Net Interest Income83,611 24,487 8,349 116,447 
(Reversal of) Provision for credit losses(2,437)1,921 5,472 (6)4,956 
Reversal of provision for unfunded commitments(326)(44)— (370)
Net Interest Income after (Reversal of) Provision for Credit Losses and Unfunded Commitments86,374 22,610 2,877 111,861 
Noninterest Income
Insurance commissions9,754 — — 9,754 
Service charges on deposits4,144 383 — 4,527 
Wealth management4,226 — — 4,226 
ATM debit card charges3,303 487 — 3,790 
Earnings on investment in bank-owned life insurance1,979 508 — 2,487 
Gain from mortgage loans held for sale301 4,628 — 4,929 
Net gains (losses) on sales or calls of investment securities69 — — 69 
Net (losses) gains on equity securities(9)— — (9)
Other963 961 — 1,924 
Total Noninterest Income24,730 6,967 — 31,697 
Noninterest Expenses
Salaries and employee benefits42,929 14,659 — 57,588 
Equipment7,321 3,233 — 10,554 
Net occupancy4,162 1,784 (165)(7)5,781 
Professional services2,140 651 — 2,791 
FDIC and regulatory1,425 644 — 2,069 
Other tax1,446 234 — 1,680 
Intangible assets amortization1,244 — 3,428 (8)4,672 
Merger-related expenses2,045 673 7,084 (12)9,802 
Other7,973 2,845 — 10,818 
Total Noninterest Expenses70,685 24,723 10,347 105,755 
Income Before Income Taxes40,419 4,854 (7,470)37,803 
Provision for income tax expense8,573 994 (1,690)(9)7,877 
Net Income$31,846 $3,860 $(5,780)$29,926 
Per Share Data:
Basic earnings per common share$3.75 $1.40 $— $2.84 
Diluted earnings per common share$3.73 $1.39 $— $2.83 
Cash dividends per common share$1.26 $0.32 $— $1.26 
Basic weighted average common shares outstanding8,503,473 2,764,181 (728,911)(2)10,538,743 
Diluted weighted average common shares outstanding8,536,965 2,775,689 (740,419)(2)10,572,235 


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Unaudited Pro Forma Per Share Data
For the Twelve Months Ended December 31, 2024
ACNB CorporationTraditions Bancorp, Inc.Pro Forma Combined
Pro Forma Equivalent Traditions Share (A)
Earnings Per Share:
Net income per share (Basic)$3.75 $1.40 $2.84 $2.07 
Net income per share (Diluted)$3.73 $1.39 $2.83 $2.06 
Cash Dividends Per Share$1.26 $0.32 $1.26 $0.92 
Book value per common share as of December 31, 2024$35.61 $24.37 $35.75 $26.10 
(A) The pro forma equivalent Traditions per share amount is calculated by multiplying the pro forma combined per share amount by the exchange ratio of 0.73 in accordance with the merger agreement.


NOTES TO UNAUDITED PRO FORMA COMBINED CONSOLIDATED FINANCIAL STATEMENTS


Note 1 - Basis of Pro Forma Presentation

The unaudited pro forma combined consolidated financial statements have been prepared in accordance with Article 11 of Regulation S-X, Pro Forma Information, which requires the depiction of the accounting for the transaction, which we refer to as transaction accounting adjustments. Please note the unaudited pro forma combined consolidated financial information does not include management adjustments for any potential effects of changes in market conditions, revenue enhancements or expense efficiencies, among other factors.

The unaudited pro forma combined consolidated financial statements were prepared with ACNB as the accounting acquirer and Traditions as the accounting acquiree under the acquisition method of accounting under ASC 850. Accordingly, the consideration paid by ACNB to complete the acquisition of Traditions will be allocated to Traditions’ assets and liabilities based upon their estimated fair values as of the date of completion of the acquisition. The allocation is dependent upon certain valuations and other studies that have not been finalized at this time; however, preliminary significant valuations based on the fair value of the acquired assets and liabilities have been estimated and included in the unaudited consolidated pro forma combined consolidated financial statements. Certain historical financial information has been reclassified to conform to the current presentation.

The fair value adjustments made to the acquired assets and liabilities are considered preliminary at this time and are subject to change as ACNB finalizes its fair value determinations; ACNB has up to one year from the acquisition date (referred to as the measurement period) to finalize the accounting for a business combination. Increases or decreases in the estimated fair values of the net assets as compared with the information shown in the unaudited pro forma combined consolidated financial information may change the amount of the purchase price allocated to goodwill and other assets and liabilities and may impact ACNB’s consolidated statements of income due to adjustments in yield and/or amortization of the adjusted assets or liabilities. Any changes to Traditions’ shareholders’ equity, including results of operations from December 31, 2024, through the acquisition date will also change the purchase price allocation, which may include the recording of a lower or higher amount of goodwill. The final adjustments may be materially different from the transaction accounting adjustments presented herein. The total estimated purchase price for the purpose of this pro forma financial information is $83.8 million utilizing ACNB’s closing common stock price of $41.10 as of January 31, 2025 (the last trading date prior to the acquisition date of the transaction).

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The pro forma combined basic and diluted earnings per share of ACNB common stock is based on the pro forma combined net income per common share for Traditions and ACNB divided by the pro forma basic or diluted common shares of the combined entities for the periods presented on such statements of income. The pro forma financial information includes adjustments related to the fair value of assets and liabilities of Traditions and ACNB merger-related expenses and is subject to adjustment as additional information becomes available and as final acquisition date analyses are performed. The pro forma combined book value per share of ACNB common stock is based on the pro forma combined common stockholders’ equity of Traditions and ACNB divided by total pro forma common shares of the combined entities.

Note 2 - Purchase Price Consideration

Statement of condition adjustment for the common stock consideration for December 31, 2024 reflects Traditions’ common stock issued and outstanding converted into the right to receive 0.73 shares of ACNB common stock. The shares outstanding on the following table include Traditions restricted stock units issued under the Traditions Bank 2016 Stock Incentive Plan that were outstanding as of January 31, 2024.

Statement of condition adjustment of $157 thousand includes for cash consideration (a) the actual cash paid for fractional shares as of February 1, 2025 and (b) the actual cash paid as of February 1, 2025 for the options to purchase shares of Traditions common stock that were outstanding and unexercised as of January 31, 2025.

The total estimated purchase price for the purpose of this pro forma financial information is $83.8 million utilizing closing price of ACNB’s common stock of $41.10 as of January 31, 2025 (the last trading date prior to the acquisition date of the transaction). The adjustment for common shares outstanding and basic and diluted weighted average common shares outstanding is an amount to adjust the shares to equal the new shares issued for the transaction. The following is a summary of the U.S. Generally Accepted Accounting Principles (“GAAP”) purchase price.

Summary of the Purchase Price
(Dollars in thousands, except per share data)
Purchase price consideration for common stock
Common shares of Traditions Bancorp, Inc. as of December 31, 20242,788,164 
Exchange ratio0.7300 
ACNB Corporation shares to be issued less fractional shares2,035,270 
Price per share of ACNB Corporation common stock (closing stock price as of January 31, 2025)$41.10 
Purchase price consideration for common stock$83,650 
Purchase price consideration for cash
Cash in lieu of fraction shares$4 
Cash out of outstanding options
Traditions Bancorp, Inc. stock options outstanding13,660 
Cash price to pay out options$28.54 
Weighted average strike price for options$17.35 
In-the-money value for stock options cashed out$11.19 
Purchase price assigned to stock options settled for cash$153 
Total purchase price consideration for cash$157 
Total purchase price consideration$83,807 


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Note 3 - Merger Consideration Allocation

Under the acquisition method of accounting, the total merger consideration is allocated to the acquired tangible and intangible assets and assumed liabilities of Traditions based on their estimated fair value as of the acquisition date of the merger. The excess of the merger consideration over the fair value of assets acquired and liabilities assumed, if any, is allocated to goodwill.

The total merger consideration as shown in the tables above is allocated to Traditions’ tangible and intangible assets and liabilities based on their fair values as follows:

Summary of the Fair Value of Assets Acquired and Liabilities Assumed and Resulting Goodwill
(In thousands)Traditions
Bancorp, Inc.
Book Value 12/31/2024		Fair Value AdjustmentsTraditions
Bancorp, Inc.
Fair Value
12/31/2024
Total purchase price consideration$83,807 
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and cash equivalents$41,869 $— $41,869 
Securities, AFS98,944 — 98,944 
Loans held for sale14,550 — 14,550 
Loans gross674,439 (25,978)(5)648,461 
Allowance for credit losses(4,045)2,581 (6)(1,464)
Loans, net of allowance670,394 (23,397)646,997 
Premises and equipment, net7,311 (362)(7)6,949 
Right of use asset2,980 — 2,980 
Restricted investment in bank stocks3,326 — 3,326 
Bank owned life insurance16,340 — 16,340 
Investments in low-income housing partnerships13 — 13 
Core deposits intangibles— 18,855 (8)18,855 
Other assets14,390 1,253 (9)15,643 
Total identifiable assets acquired870,117 (3,651)866,466 
Deposits749,307 (215)(10)749,092 
Borrowings40,000 — 40,000 
Lease liability3,174 — 3,174 
Allowance for unfunded commitments118 852 (11)970 
Other liabilities9,572 — 9,572 
Total liabilities assumed802,171 637 802,808 
Total identifiable net assets$67,946 $(4,288)$63,658 
Goodwill$20,149 

For purposes of this analysis as of December 31, 2024, $18.9 million has been allocated to a core deposit intangible asset, an amortizable identifiable intangible asset, and $20.1 million of resultant goodwill is anticipated, both reflected on the statement of condition. The amortization related to the core deposit intangible is reflected on the statement of income.
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Identifiable intangible assets. The fair values of intangible assets were determined based on the provisions of ASC 805, which defines fair value in accordance with ASC Topic 820, Fair Value Measurements and Disclosures (“ASC 820”). ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Intangible assets were identified that met either the separability criterion or the contractual-legal criterion described in ASC 805. The allocation to intangible assets is allocated to core deposit intangibles.

Goodwill. Goodwill represents the excess of the merger consideration over the fair value of the underlying net tangible and intangible assets. Among the factors that contributed to a purchase price in excess of the fair value of the net tangible and intangible assets are the experience and expertise of personnel, operations, customer base and organizational cultures that can be leveraged to enable the combined company to build an enterprise greater than the sum of its parts. In accordance with ASC Topic 350, Intangibles—Goodwill and Other, goodwill will not be amortized, but instead will be tested for impairment at least annually and whenever events or circumstances have occurred that may indicate a possible impairment. In the event management determines that the value of goodwill has become impaired, the combined company will incur an accounting charge for the amount of the impairment during the period in which the determination is made.

Note 4 - Shareholders’ Equity

Statement of condition adjustments to reflect the reversal of Traditions’ historical equity accounts to additional paid-in capital (“APIC”) and record the purchase price consideration for common stock. The following tables summarize the transaction accounting adjustments for the equity accounts:

Statement of Condition
(Dollars in thousands, except per share data)December 31, 2024
Transaction accounting adjustment for common stock
Reversal of Traditions’ common stock$(2,788)
Number of shares of ACNB common stock issued less fractional shares2,035,270 
Par Value of ACNB common stock$2.50 
Par value of ACNB shares issued for merger5,088 
Total transaction accounting adjustment for common stock$2,300 

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Statement of Condition
(Dollars in thousands, except per share data)December 31, 2024
Transaction accounting adjustment for APIC
Reversal of Traditions common stock to APIC$2,788 
Reversal of Traditions retained earnings to APIC40,438 
Reversal of Traditions accumulated other comprehensive loss to APIC(10,324)
Issued and outstanding shares of Traditions common stock (including restricted stock awards)2,788,164 
Exchange ratio0.730 
Number of ACNB shares issued less fractional shares2,035,270 
Closing price of ACNB common stock on January 31, 2025$41.10 
Purchase price consideration for common stock83,650 
Par value of ACNB shares issued for merger at $2.50 per share$2.50 
Less: par value of ACNB common stock5,088 
APIC adjustment for ACNB shares issued78,562 
Less: Traditions common equity(67,946)
Net adjustment to APIC for stock consideration10,616 
Total transaction accounting adjustment for APIC$43,518 

Statement of Condition
(In thousands)December 31, 2024
Transaction accounting adjustment for retained earnings
Reversal of Traditions retained earnings$(40,438)
ACNB merger costs, net of taxes(5,482)
Provision for credit losses for non-PCD loans, net of taxes(4,234)
Total transaction accounting adjustment for retained earnings$(50,154)

Statement of Condition
(In thousands)December 31, 2024
Transaction accounting adjustment for accumulated other comprehensive loss
Reversal of Traditions accumulated other comprehensive loss$10,324 
Total transaction accounting adjustment for accumulated other comprehensive loss$10,324 

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Note 5 - Loans

Statement of condition adjustments to reflect the fair value discount for acquired purchased credit deteriorated (“PCD”) loans and non-PCD loans of $27.4 million of which $26.0 million is assigned to loans and $1.5 million is assigned to the allowance for credit losses (recorded to allowance for credit losses in Note 6). Statement of income adjustment to reflect the accruing loan fair value amortization over the expected life of the loans.

Statement of ConditionStatement of Income
(In thousands)December 31, 2024Twelve Months Ended
December 31, 2024
Fair value adjustments on loans acquired
Non-PCD loans interest rate fair value$(15,389)$4,826 
Non-PCD loans general credit fair value(6,166)1,810 
Total fair value adjustment assigned to Non-PCD loans(21,555)6,636 
PCD accruing loans fair value(5,359)1,822 
PCD non-accruing loans fair value(528)— 
Total fair value adjustment assigned to PCD loans(5,887)1,822 
Total fair value adjustments for loans(27,442)8,458 
PCD accruing loan ACL1,464 — 
Total fair value of PCD loans assigned to allowance for credit losses1,464 — 
Total adjustments for loans$(25,978)$8,458 






















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Note 6 - Allowance for Credit Losses

Statement of condition adjustment for the reversal of Traditions’ existing allowance for credit losses of $4.0 million. Statement of condition adjustment of $1.5 million of PCD loan fair value assigned to the allowance for credit losses. Statement of condition and retained earnings adjustment for the allowance for credit losses of $5.5 million for acquired non-PCD loans. Statement of income adjustment for the one-time provision expense of $5.5 million ($4.2 million after-tax) related to allowance for credit losses for non-PCD loans.

Statement of ConditionStatement of Income
(In thousands)December 31, 2024Twelve Months Ended
December 31, 2024
Allowance for credit losses
Reversal of existing allowance for credit losses$4,045 $— 
Fair value of PCD Accruing loans assigned to allowance for credit losses(1,464)— 
Subtotal allowance for credit losses excluding ACL for non-PCD loans2,581 — 
Provision for credit losses for non-PCD loans(5,472)5,472 
Total adjustments for allowance for credit losses$(2,891)$5,472 

Note 7 - Premises and Equipment

Statement of condition and statement of income adjustment to reflect the fair value of premises and equipment and the related depreciation adjustment based on an expected life of the related asset.

Statement of ConditionStatement of Income
(In thousands)December 31, 2024Twelve Months Ended
December 31, 2024
Premises and equipment, net
Premises and equipment fair value adjustment$(362)$(165)
Total adjustments for premises and equipment, net$(362)$(165)














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Note 8 - Core Deposit Intangibles

Statement of condition adjustment to intangible assets to reflect the fair value of $18.9 million for acquired core deposit intangible assets. Statement of income adjustment for the amortization based upon an expected life of 10 years using sum of the year’s digits method:

Statement of ConditionStatement of Income
(In thousands)December 31, 2024Twelve Months Ended
December 31, 2024
Core deposit intangible asset$18,855 $3,428 
Total adjustments for core deposit intangible asset$18,855 $3,428 

Note 9 - Other Assets

Statement of condition adjustment to other assets to reflect the net deferred tax asset, at a statutory rate of 22.62%, related to (a) the merger fair value adjustments, (b) ACNB accrued but not paid one-time merger charges, and (c) provision for credit losses for acquired non-PCD loans.

Statement of income adjustment for the book tax expense impact (22.62% statutory tax rate) for (a) the merger fair value adjustments amortizations, (b) ACNB accrued but not paid one-time merger charges, and (c) provision for credit losses for acquired non-PCD loans.

Statement of ConditionStatement of Income
(In thousands)December 31, 2024Twelve Months Ended
December 31, 2024
Other assets
Impact for fair value adjustments
Deferred tax assets for fair value adjustments, net of deferred tax liabilities$1,253 $1,150 
Total impact for fair value adjustments1,253 1,150 
Deferred tax assets impact for other adjustments
ACNB accrual for one-time merger related charges1,602 (1,602)
Allowance for credit losses for Non-PCD loans1,238 (1,238)
Total deferred tax assets impact for other adjustments$2,840 $(2,840)
Total adjustments for other assets$4,093 $(1,690)







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Note 10 - Certificates of Deposit

Statement of condition adjustment related to the fair value of interest-bearing time deposits. Statement of income adjustment related to the amortization of discount on interest-bearing time deposits based on the maturities of the interest-bearing time deposits:

Statement of ConditionStatement of Income
(In thousands)December 31, 2024Twelve Months Ended
December 31, 2024
Certificates of deposit$(215)$109 
Total adjustments for certificates of deposits$(215)$109 

Note 11 - Allowance for Unfunded Commitments

Statement of condition adjustment to increase the allowance for unfunded loan commitments:

Statement of ConditionStatement of Income
(In thousands)December 31, 2024Twelve Months Ended
December 31, 2024
Allowance for unfunded commitments
Adjustment for unfunded commitments$852 $— 
Total adjustments for allowance for unfunded commitments$852 $— 

Note 12 - Other Liabilities

Statement of condition adjustment to reflect the accrual of one-time merger-related charges for ACNB at an estimated pre-tax charge of $7.1 million ($5.5 million after-tax), with the after-tax cost as a reduction to retained earnings (see Note 4 for retained earnings impact).

Statement of income adjustment to include ACNB pre-tax merger expenses of $7.1 million ($5.5 million after tax):

Statement of ConditionStatement of Income
(In thousands)December 31, 2024Twelve Months Ended
December 31, 2024
Other Liabilities
ACNB accrual for one-time merger related charges$7,084 $7,084 
Total adjustments for other liabilities$7,084 $7,084 


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Note 13 - Post Acquisition Restructuring

ACNB completed, following the effective date of the merger, the sale of $97.0 million of Traditions’ investments and paying off $40.0 million of Federal Home Loan Bank (“FHLB”) borrowings with the remaining cash balance being invested in new investment securities. Please note that this restructuring was not included in the pro forma combined consolidated financial statements. The following table is a summary of the statements of condition and income with adjustments to reflect the restructuring of selling Traditions’ investment securities with a yield of 5.03% and paying down of $40.0 million of FHLB borrowings with a cost of 4.73%, with the remaining cash balance being invested into investment securities available for sale with a yield of 5.07%.

Statement of ConditionStatement of Income
(In thousands)December 31, 2024Twelve Months Ended
December 31, 2024
Management Adjustments
Proceeds from sale of Traditions securities available for sale$(97,005)$(4,879)
Reinvestment of new available for sale securities57,005 2,890 
Net change in available for sale securities(40,000)(1,989)
Borrowings(40,000)(1,892)
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