ORRSTOWN FINANCIAL SERVICES INC
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 31, 2025
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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Item 8. Financial Statements and Supplementary Data
SUMMARY OF QUARTERLY FINANCIAL DATA
The following table presents unaudited quarterly results of operations for years ended December 31:
| 2024Quarter Ended | 2023Quarter Ended | |||||||
|---|---|---|---|---|---|---|---|---|
| December | September | June | March | December | September | June | March | |
| Interest income | $80,015 | $82,987 | $43,281 | $42,650 | $40,028 | $38,691 | $36,901 | $34,277 |
| Interest expense | 29,442 | 31,290 | 17,178 | 15,769 | 14,010 | 12,472 | 10,526 | 7,983 |
| Net interest income | 50,573 | 51,697 | 26,103 | 26,881 | 26,018 | 26,219 | 26,375 | 26,294 |
| Provision for credit losses | 1,755 | 13,681 | 812 | 298 | 418 | 136 | 399 | 729 |
| Net interest income after provision for credit losses | 48,818 | 38,016 | 25,291 | 26,583 | 25,600 | 26,083 | 25,976 | 25,565 |
| Investment securities (losses) gains | (5) | 271 | (12) | (5) | (39) | 2 | (2) | (8) |
| Other noninterest income | 11,252 | 12,115 | 7,184 | 6,635 | 6,530 | 5,923 | 7,160 | 6,086 |
| Merger-related expenses | 3,887 | 16,977 | 1,135 | 672 | 1,059 | — | — | — |
| Provision for legal settlement | 478 | — | — | — | — | — | — | — |
| Restructuring expenses | 39 | 257 | — | — | — | — | — | — |
| Other noninterest expenses | 38,526 | 43,322 | 21,504 | 21,797 | 21,333 | 20,447 | 20,749 | 20,255 |
| Income (loss) before income tax expense | 17,135 | (9,897) | 9,824 | 10,744 | 9,699 | 11,561 | 12,385 | 11,388 |
| Income tax expense (benefit) | 3,451 | (1,994) | 2,086 | 2,213 | 2,056 | 2,535 | 2,547 | 2,232 |
| Net income (loss) | $13,684 | $(7,903) | $7,738 | $8,531 | $7,643 | $9,026 | $9,838 | $9,156 |
| Per share information: | ||||||||
| Basic earnings (loss) per share (a) | $0.72 | $(0.41) | $0.74 | $0.82 | $0.74 | $0.87 | $0.95 | $0.88 |
| Diluted earnings (loss) per share (a) | 0.71 | (0.41) | 0.73 | 0.81 | 0.73 | 0.87 | 0.94 | 0.87 |
| Dividends paid per share | 0.23 | 0.23 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 |
| (a) Sum of the quarters may not equal the total year due to rounding. | ||||||||
Index to Financial Statements and Supplementary Data
| Page | |
|---|---|
| Management’s Report on Internal Control over Financial Reporting | 74 |
| Report of Crowe LLP, Independent Registered Public Accounting Firm (PCAOB ID 173) | 75 |
| Consolidated Balance Sheets | 79 |
| Consolidated Statements of Income | 80 |
| Consolidated Statements of Comprehensive Income (Loss) | 82 |
| Consolidated Statements of Changes in Shareholders’ Equity | 83 |
| Consolidated Statements of Cash Flows | 84 |
| Notes to Consolidated Financial Statements | 86 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.