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)

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments65,16194,93976,31898,32360,82366,927
Cash and cash equivalents65,16194,93976,31898,32360,82366,927
Total current assets:65,16194,93976,31898,32360,82366,927
Noncurrent Assets
Operating lease, right-of-use asset10,82411,05311,2749,0659,2709,474
Property, plant and equipment29,39329,38529,62929,10629,32831,457
Intangible assets, net (including goodwill)21,13821,37421,31321,55221,80222,062
Goodwill18,72418,72418,72418,72418,72418,724
Intangible assets, net (excluding goodwill)2,4142,6502,5892,8283,0783,338
Deferred income tax assets22,01725,50022,09321,33524,03126,875
Investment, proportional amortization method, elected, amount     707 
Total noncurrent assets:83,37287,31284,30981,05885,13889,868
Other undisclosed assets2,915,7072,872,1842,847,5702,832,1672,776,4472,695,297
TOTAL ASSETS:3,064,2403,054,4353,008,1973,011,5482,922,4082,852,092
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt     17,25121,065
Total current liabilities:     17,25121,065
Noncurrent Liabilities
Long-term debt and lease obligation     106,139 
Long-term debt, excluding current maturities     106,139 
Total noncurrent liabilities:     106,139 
Other undisclosed liabilities2,799,1842,811,3552,762,5562,771,3872,570,1222,613,649
Total liabilities:2,799,1842,811,3552,762,5562,771,3872,693,5122,634,714
Equity
Equity, attributable to parent265,056243,080245,641240,161228,896217,378
Common stock583583583584584585
Treasury stock, value(13,745)(13,762)(13,844)(12,689)(13,512)(13,336)
Additional paid in capital189,027188,458187,859187,572189,264188,730
Accumulated other comprehensive loss(28,476)(44,343)(34,196)(32,825)(39,913)(43,468)
Retained earnings117,667112,144105,23997,51992,47384,867
Total equity:265,056243,080245,641240,161228,896217,378
TOTAL LIABILITIES AND EQUITY:3,064,2403,054,4353,008,1973,011,5482,922,4082,852,092

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

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
Revenues44,02140,88439,30536,72636,20627,219
Net investment income 38,05836,48333,979 27,219
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(418)   (585)(1,500)
Gross profit:43,60340,88439,30536,72635,62125,719
Operating expenses(4,805)(4,249)(3,920)(3,919)(2,243)(7,438)
Other undisclosed operating income 600   456 
Operating income:39,39836,63535,38532,80733,83418,281
Nonoperating income
(Bank Owned Life Insurance Income)
627620645590597583
Interest and debt expense(14,010)(12,472)(10,526)(7,983)(4,611)(1,964)
Income from continuing operations before equity method investments, income taxes:26,01524,78325,50425,41429,82016,900
Other undisclosed loss from continuing operations before income taxes(16,316)(13,222)(13,119)(14,026)(17,931)(23,299)
Income (loss) from continuing operations before income taxes:9,69911,56112,38511,38811,889(6,399)
Income tax expense (benefit)(2,056)(2,535)(2,547)(2,232)(2,263)1,571
Income (loss) from continuing operations:7,6439,0269,8389,1569,626(4,828)
Loss before gain (loss) on sale of properties:(4,828)
Net income (loss) available to common stockholders, diluted:7,6439,0269,8389,1569,626(4,828)

Comprehensive Income ($ in thousands)

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
Net income (loss):7,6439,0269,8389,1569,626(4,828)
Other comprehensive income (loss)15,867(10,147)(1,371)7,0883,555(14,098)
Comprehensive income (loss), net of tax, attributable to parent:23,510(1,121)8,46716,24413,181(18,926)

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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