ORRSTOWN FINANCIAL SERVICES INC

For the period ended Jun 30, 2025. Filed Aug 8, 2025.

About this filing

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.

Jun 30, 2025 · Filed Aug 8, 2025

ORRF$44.32-0.3%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Income (Unaudited)

Condensed Consolidated Statements of Income (Unaudited)

	Three Months Ended		Six Months Ended
(Dollars in thousands, except per share amounts)	June 30, 2025	June 30, 2024	June 30, 2025	June 30, 2024
Interest income
Loans	$63,036	$35,537	$126,468	$71,770
Investment securities - taxable	9,406	4,999	18,350	9,583
Investment securities - tax-exempt	878	881	1,753	1,758
Short-term investments	1,513	1,864	3,781	2,820
Total interest income	74,833	43,281	150,352	85,931
Interest expense
Deposits	22,855	15,265	47,115	28,781
Securities sold under agreements to repurchase and federal funds purchased	106	27	190	52
FHLB advances and other borrowings	1,030	1,152	2,148	2,626
Subordinated notes and trust preferred debt	1,330	734	2,626	1,488
Total interest expense	25,321	17,178	52,079	32,947
Net interest income	49,512	26,103	98,273	52,984
Provision for (Recovery of) credit losses - loans	209	812	(345)	1,233
Recovery of credit losses - unfunded loan commitments	(100)	—	(100)	(123)
Net interest income after provision for credit losses	49,403	25,291	98,718	51,874
Noninterest income
Service charges on deposit accounts	2,050	1,018	3,961	2,023
Interchange income	1,441	961	2,868	1,872
Other service charges, commissions and fees	580	265	1,064	460
Swap fee income	669	375	1,063	574
Trust and investment management income	3,572	2,132	7,548	4,156
Brokerage income	1,695	1,180	3,134	2,258
Mortgage banking activities	478	369	780	827
Income from life insurance	1,311	646	2,600	1,280
Investment securities gains (losses)	8	(12)	21	(17)
Other income	1,111	238	1,500	369
Total noninterest income	12,915	7,172	24,539	13,802
continued

	Three Months Ended		Six Months Ended
	June 30,2025	June 30,2024	June 30,2025	June 30,2024
Noninterest expenses
Salaries and employee benefits	21,364	13,195	41,752	26,947
Occupancy	1,671	1,178	3,660	2,379
Furniture and equipment	2,540	1,527	5,226	2,965
Data processing	965	1,237	1,889	2,502
Automated teller and interchange fees	615	341	1,292	692
Advertising and bank promotions	1,077	774	1,576	1,172
FDIC insurance	674	419	1,498	860
Professional services	2,016	801	3,842	1,432
Directors' compensation	293	272	504	523
Taxes other than income	295	49	1,237	543
Intangible asset amortization	2,472	215	5,007	440
Merger-related expenses	968	1,135	2,617	1,807
Restructuring expenses	—	—	91	—
Other operating expenses	2,664	1,496	5,599	2,846
Total noninterest expenses	37,614	22,639	75,790	45,108
Income before income tax expense	24,704	9,824	47,467	20,568
Income tax expense	5,256	2,086	9,968	4,299
Net income	$19,448	$7,738	$37,499	$16,269
Per share information:
Basic earnings per share	$1.01	$0.74	$1.96	$1.57
Diluted earnings per share	1.01	0.73	1.94	1.55
Dividends paid per share	0.26	0.20	0.52	0.40

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.