ORRSTOWN FINANCIAL SERVICES INC
For the period ended Dec 31, 2023. Filed Mar 14, 2024.
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FY2023 · Filed Mar 14, 2024
ORRF$44.32-0.3%Stored close · as of Nov 10, 2026
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Consolidated Statements of Comprehensive Income(Loss)
| Years Ended December 31, | |||
|---|---|---|---|
| (Dollars in thousands) | 2023 | 2022 | 2021 |
| Net income | $35,663 | $22,037 | $32,881 |
| Other comprehensive income (loss), net of tax: | |||
| Unrealized gains (losses) on securities available-for-sale arising during the period | 13,936 | (55,321) | 775 |
| Reclassification adjustment for losses (gains) realized in net income | 44 | 139 | (609) |
| Net unrealized gains (losses) on securities available-for-sale | 13,980 | (55,182) | 166 |
| Tax effect | (3,075) | 11,588 | (35) |
| Total other comprehensive income (loss), net of tax and reclassification adjustments on securities available-for-sale | 10,905 | (43,594) | 131 |
| Unrealized gains (losses) on interest rate swaps used in cash flow hedges | 682 | (972) | 473 |
| Reclassification adjustment for losses realized in net income | — | — | 757 |
| Net unrealized gains (losses) on interest rate swaps used in cash flow hedges | 682 | (972) | 1,230 |
| Tax effect | (150) | 204 | (258) |
| Total other comprehensive gain (loss), net of tax and reclassification adjustments on interest rate swaps used in cash flow hedges | 532 | (768) | 972 |
| Total other comprehensive income (loss), net of tax and reclassification adjustments | 11,437 | (44,362) | 1,103 |
| Total comprehensive income (loss) | $47,100 | $(22,325) | $33,984 |
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