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$44.32-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Comprehensive Income (Unaudited)
Condensed Consolidated Statements of Comprehensive Income (Unaudited)
| Three Months Ended | ||
|---|---|---|
| (Dollars in thousands) | March 31,2024 | March 31,2023 |
| Net income | $8,531 | $9,156 |
| Other comprehensive (loss) income, net of tax: | ||
| Unrealized (losses) gains on securities available for sale arising during the period | (1,676) | 8,774 |
| Reclassification adjustment for losses realized in net income | — | — |
| Net unrealized (losses) gains on securities available for sale | (1,676) | 8,774 |
| Tax effect | 374 | (1,930) |
| Total other comprehensive (loss) income, net of tax and reclassification adjustments on securities available for sale | (1,302) | 6,844 |
| Unrealized gains on interest rate swaps used in cash flow hedges | 1,428 | 319 |
| Reclassification adjustment for losses realized in net income | — | — |
| Net unrealized gains on interest rate swaps used in cash flow hedges | 1,428 | 319 |
| Tax effect | (318) | (75) |
| Total other comprehensive income, net of tax and reclassification adjustments on interest rate swaps used in cash flow hedges | 1,110 | 244 |
| Total other comprehensive (loss) income, net of tax and reclassification adjustments | (192) | 7,088 |
| Total comprehensive income | $8,339 | $16,244 |
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