ORRSTOWN FINANCIAL SERVICES INC
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
ORRF$44.44+1.4%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited)
| (Dollars in thousands, except per share amounts) | March 31,2024 | December 31,2023 |
|---|---|---|
| Assets | ||
| Cash and due from banks | $23,552 | $32,586 |
| Interest-bearing deposits with banks | 159,170 | 32,575 |
| Cash and cash equivalents | 182,722 | 65,161 |
| Restricted investments in bank stocks | 11,453 | 11,992 |
| Securities available for sale (amortized cost of $552,155 and $549,089 at March 31, 2024 and December 31, 2023, respectively) | 514,909 | 513,519 |
| Loans held for sale, at fair value | 535 | 5,816 |
| Loans | 2,303,073 | 2,298,313 |
| Less: Allowance for credit losses | (29,165) | (28,702) |
| Net loans | 2,273,908 | 2,269,611 |
| Premises and equipment, net | 28,952 | 29,393 |
| Cash surrender value of life insurance | 73,656 | 73,204 |
| Goodwill | 18,724 | 18,724 |
| Other intangible assets, net | 2,189 | 2,414 |
| Accrued interest receivable | 13,496 | 13,630 |
| Deferred tax assets, net | 21,181 | 22,017 |
| Other assets | 41,606 | 38,759 |
| Total assets | $3,183,331 | $3,064,240 |
| Liabilities | ||
| Deposits: | ||
| Noninterest-bearing | $418,512 | $430,959 |
| Interest-bearing | 2,277,439 | 2,127,855 |
| Total deposits | 2,695,951 | 2,558,814 |
| Securities sold under agreements to repurchase and federal funds purchased | 12,099 | 9,785 |
| FHLB advances and other borrowings | 115,000 | 137,500 |
| Subordinated notes | 32,111 | 32,093 |
| Other liabilities | 56,488 | 60,992 |
| Total liabilities | 2,911,649 | 2,799,184 |
| Commitments and contingencies | ||
| Shareholders’ Equity | ||
| Preferred stock, $1.25 par value per share; 500,000 shares authorized; no shares issued or outstanding | — | — |
| Common stock, no par value—$0.05205 stated value per share; 50,000,000 shares authorized; 11,203,221 shares issued and 10,705,077 outstanding at March 31, 2024; 11,204,599 shares issued and 10,612,390 outstanding at December 31, 2023 | 583 | 583 |
| Additional paid - in capital | 187,267 | 189,027 |
| Retained earnings | 124,075 | 117,667 |
| Accumulated other comprehensive loss | (28,668) | (28,476) |
| Treasury stock—498,144 and 592,209 shares, at cost at March 31, 2024 and December 31, 2023, respectively | (11,575) | (13,745) |
| Total shareholders’ equity | 271,682 | 265,056 |
| Total liabilities and shareholders’ equity | $3,183,331 | $3,064,240 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.