ORRSTOWN FINANCIAL SERVICES INC
For the period ended Mar 31, 2025. Filed May 9, 2025.
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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, 2025 · Filed May 9, 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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Consolidated Statements of Cash Flows (Unaudited)
Condensed Consolidated Statements of Cash Flows (Unaudited)
| Three Months Ended | ||
|---|---|---|
| (Dollars in thousands) | March 31, 2025 | March 31, 2024 |
| Cash flows from operating activities | ||
| Net income | $18,051 | $8,531 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Net (discount accretion) premium amortization | (7,100) | 450 |
| Depreciation and amortization expense | 4,244 | 1,072 |
| (Recovery of) Provision for credit losses - loans | (554) | 421 |
| (Recovery of) Provision for credit losses - unfunded loan commitments | — | (123) |
| Share-based compensation | 1,358 | 967 |
| Gains on sales of loans originated for sale | (225) | (268) |
| Fair value adjustments on loans held for sale | (8) | (18) |
| Mortgage loans originated for sale | (11,225) | (7,697) |
| Proceeds from sales of loans originated for sale | 12,811 | 13,264 |
| Net gain on sale of OREO and premises held for sale | (6) | — |
| Deferred income tax expense | 5,766 | 891 |
| Investment securities (gains) losses | (13) | 5 |
| Return on investments in limited partnerships | (13) | (16) |
| Net losses (gains) on derivatives | 180 | (130) |
| Income from life insurance | (1,289) | (634) |
| Increase in accrued interest receivable and other assets | (578) | (1,139) |
| Decrease in accrued interest payable and other liabilities | (10,805) | (3,092) |
| Other, net | 359 | 186 |
| Net cash provided by operating activities | 10,953 | 12,670 |
| Cash flows from investing activities | ||
| Maturities, repayments and calls of AFS securities | 18,432 | 18,134 |
| Purchases of AFS securities | (39,613) | (21,784) |
| Net purchases of restricted investments in bank stocks | 539 | 539 |
| Net decrease (increase) in loans | 61,262 | (6,185) |
| Investment in limited partnerships | (369) | (21) |
| Purchases of bank premises and equipment | (2,315) | (63) |
| Proceeds from disposal of OREO and premises held for sale | 1,931 | — |
| Net cash provided by (used in) investing activities | 39,867 | (9,380) |
| Cash flows from financing activities | ||
| Net increase in deposits | 10,620 | 137,137 |
| Net decrease in borrowings with original maturities less than 90 days | (2,733) | (20,186) |
| Payments on FHLB advances with original maturities greater than 90 days | (15,000) | — |
| Dividends paid | (5,044) | (2,123) |
| Shares repurchased as treasury stock for employee taxes associated with restricted stock vesting | (467) | (637) |
| Proceeds from issuance of employee stock purchase plan shares | 66 | 80 |
| Other | (16) | — |
| Net cash (used in) provided by financing activities | (12,574) | 114,271 |
| Net increase in cash and cash equivalents | 38,246 | 117,561 |
| Cash and cash equivalents at beginning of period | 248,874 | 65,161 |
| Cash and cash equivalents at end of period | $287,120 | $182,722 |
| Three Months Ended | ||
|---|---|---|
| March 31, 2025 | March 31, 2024 | |
| Supplemental disclosures of cash flow information: | ||
| Cash paid during the period for: | ||
| Interest | $26,643 | $15,894 |
| Supplemental schedule of noncash activities: | ||
| Lease liabilities arising from obtaining ROU assets | 831 | — |
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