Orrstown Financial Services Inc (ORRF) Financial Statements (2024 and earlier)

Company Profile

Business Address 77 E KING STREET
SHIPPENSBURG, PA 17257
State of Incorp. PA
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments60,823208,710125,25856,46271,82029,807
Cash and cash equivalents60,823208,710125,25856,46271,82029,807
Total current assets:60,823208,710125,25856,46271,82029,807
Noncurrent Assets
Operating lease, right-of-use asset9,27010,5158,686 
Property, plant and equipment29,32834,04535,14937,52438,20134,809
Intangible assets, net (including goodwill)21,80222,90724,18227,10516,502 
Goodwill18,72418,72418,72419,92512,592 
Intangible assets, net (excluding goodwill)3,0784,1835,4587,1803,910 
Deferred income tax assets24,031   
Amortization method qualified affordable housing project investments 7079211,1001,3001,5621,776
Total noncurrent assets:85,13868,38869,11765,92956,26536,585
Other undisclosed assets2,776,4472,557,4672,556,1972,260,8831,806,3031,492,457
TOTAL ASSETS:2,922,4082,834,5652,750,5722,383,2741,934,3881,558,849
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt 17,25123,30119,466154,86964,06993,576
Total current liabilities: 17,25123,30119,466154,86964,06993,576
Noncurrent Liabilities
Long-term debt and lease obligation 106,1391,89658,04563,067  
Long-term debt, excluding current maturities 106,1391,89658,04563,067  
Total noncurrent liabilities: 106,1391,89658,04563,067  
Other undisclosed liabilities2,570,1222,537,7122,426,8121,942,0891,696,8861,320,508
Total liabilities:2,693,5122,562,9092,504,3232,160,0251,760,9551,414,084
Equity
Equity, attributable to parent228,896271,656246,249223,249173,433144,765
Common stock584586586584491435
Treasury stock, value(13,512)(1,768)(848)(466)(236)(15)
Additional paid in capital189,264189,689189,066188,365151,678125,458
Accumulated other comprehensive income (loss)(39,913)4,4493,346(480)(2,972)2,845
Retained earnings92,47378,70054,09935,24624,47216,042
Total equity:228,896271,656246,249223,249173,433144,765
TOTAL LIABILITIES AND EQUITY:2,922,4082,834,5652,750,5722,383,2741,934,3881,558,849

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues120,945105,534109,676101,66773,44169,885
Net investment income107,88093,34299,51691,65564,51050,797
Financial services revenue19,088
Cost of revenue(4,160)(1,090)(5,325)(900)(800)(3,806)
Cost of goods and services sold      (2,806)
Provision for loan, lease, and other losses(4,160)(1,090)(5,325)(900)(800)
Financial services costs(1,000)
Gross profit:116,785104,444104,351100,76772,64166,079
Operating expenses(17,485)(16,048)(16,625)(23,842)(11,538)(35,751)
Other operating income, net
(Noninterest Income, Other Operating Income)
 4563814444161,392 
Other undisclosed operating income      
Operating income:99,75688,77788,17077,34162,49530,328
Nonoperating income
(Bank Owned Life Insurance Income)
2,3392,2732,2612,0441,4631,109
Interest and debt expense(9,024)(6,721)(16,024)(23,699)(13,467)(7,644)
Income from continuing operations before equity method investments, income taxes:93,07184,32974,40755,68650,49123,793
Other undisclosed loss from continuing operations before income taxes(66,455)(43,434)(41,896)(36,052)(36,046)(11,365)
Income from continuing operations before income taxes:26,61640,89532,51119,63414,44512,428
Income tax expense(4,579)(8,014)(6,048)(2,710)(1,640)(4,338)
Income from continuing operations:22,03732,88126,46316,92412,8058,090
Income before gain (loss) on sale of properties:32,88126,46316,92412,8058,090
Net income available to common stockholders, diluted:22,03732,88126,46316,92412,8058,090

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:22,03732,88126,46316,92412,8058,090
Other comprehensive income (loss)(44,362)1,1033,8262,492(5,817)3,781
Comprehensive income (loss), net of tax, attributable to parent:(22,325)33,98430,28919,4166,98811,871

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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