Effective July 1, 2017, ACNB Corporation completed its previously announced acquisition of New Windsor Bancorp Inc. (NW Bancorp) pursuant to an Agreement and Plan of Reorganization dated as of November 21, 2016., as amended, by and among the Corporation, ACNB South Acquisition Subsidiary, LLC (Acquisition Subsidiary), ACNB Bank, NW Bancorp, and New Windsor State Bank (NWS Bank). Effective July 1, 2017, in connection with the merger and pursuant to the terms of the Reorganization Agreement, two former NW Bancorp directors, Todd L. Herring and D. Arthur Seibel, Jr., were appointed as Class 1 and Class 2 Directors, respectively, of the Corporation's Board of Directors to fill the vacancies in each class as approved by the shareholders of the Corporation at the 2017 Annual Meeting of Shareholders. Messrs. Herring and Seibel were also appointed as Directors of ACNB Bank's Board of Directors. In addition, for ACNB Corporation, Messrs. Herring and Seibel were appointed to the Board's Compensation Committee and Audit Committee, respectively.