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
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments76,31898,32360,82366,927111,906214,238
Cash and cash equivalents76,31898,32360,82366,927111,906214,238
Total current assets:76,31898,32360,82366,927111,906214,238
Noncurrent Assets
Operating lease, right-of-use asset11,2749,0659,2709,47410,09310,305
Property, plant and equipment29,62929,10629,32831,45733,42933,704
Intangible assets, net (including goodwill)21,31321,55221,80222,06222,33422,615
Goodwill18,72418,72418,72418,72418,72418,724
Intangible assets, net (excluding goodwill)2,5892,8283,0783,3383,6103,891
Deferred income tax assets22,09321,33524,03126,875  
Amortization method qualified affordable housing project investments   707   
Total noncurrent assets:84,30981,05885,13889,86865,85666,624
Other undisclosed assets2,847,5702,832,1672,776,4472,695,2972,646,4392,619,675
TOTAL ASSETS:3,008,1973,011,5482,922,4082,852,0922,824,2012,900,537
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt   17,25121,06524,28724,624
Total current liabilities:   17,25121,06524,28724,624
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 liabilities2,762,5562,771,3872,570,1222,613,6492,562,3872,621,109
Total liabilities:2,762,5562,771,3872,693,5122,634,7142,586,6742,645,733
Equity
Equity, attributable to parent245,641240,161228,896217,378237,527254,804
Common stock583584584585585585
Treasury stock, value(13,844)(12,689)(13,512)(13,336)(13,589)(4,083)
Additional paid in capital187,859187,572189,264188,730188,178188,033
Accumulated other comprehensive loss(34,196)(32,825)(39,913)(43,468)(29,370)(14,674)
Retained earnings105,23997,51992,47384,86791,72384,943
Total equity:245,641240,161228,896217,378237,527254,804
TOTAL LIABILITIES AND EQUITY:3,008,1973,011,5482,922,4082,852,0922,824,2012,900,537

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

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues39,30536,72636,20627,21925,11526,558
Net investment income36,48333,979 27,21925,11523,689
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
   (585)(1,500)(1,775)(300)
Gross profit:39,30536,72635,62125,71923,34026,258
Operating expenses(3,920)(3,919)(2,243)(7,438)(4,289)(4,068)
Other undisclosed operating income   456   
Operating income:35,38532,80733,83418,28119,05122,190
Nonoperating income
(Bank Owned Life Insurance Income)
645590597583593566
Interest and debt expense(10,526)(7,983)(4,611)(1,964)(1,232)(1,217)
Income from continuing operations before equity method investments, income taxes:25,50425,41429,82016,90018,41221,539
Other undisclosed loss from continuing operations before income taxes(13,119)(14,026)(17,931)(23,299)(7,669)(11,156)
Income (loss) from continuing operations before income taxes:12,38511,38811,889(6,399)10,74310,383
Income tax expense (benefit)(2,547)(2,232)(2,263)1,571(1,872)(2,015)
Income (loss) from continuing operations:9,8389,1569,626(4,828)8,8718,368
Income (loss) before gain (loss) on sale of properties:(4,828)8,8718,368
Net income (loss) available to common stockholders, diluted:9,8389,1569,626(4,828)8,8718,368

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income (loss):9,8389,1569,626(4,828)8,8718,368
Other comprehensive income (loss)(1,371)7,0883,555(14,098)(14,696)(19,123)
Comprehensive income (loss), net of tax, attributable to parent:8,46716,24413,181(18,926)(5,825)(10,755)

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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