ORRSTOWN FINANCIAL SERVICES INC

For the period ended Mar 31, 2026. Filed May 8, 2026.

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.

Mar 31, 2026 · Filed May 8, 2026

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

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Contents

Consolidated Statements of Cash Flows (Unaudited)

Condensed Consolidated Statements of Cash Flows (Unaudited)

	Three Months Ended
(Dollars in thousands)	March 31, 2026	March 31, 2025
Cash flows from operating activities
Net income	$21,809	$18,051
Adjustments to reconcile net income to net cash provided by operating activities:
Net discount accretion	(5,457)	(7,100)
Depreciation and amortization expense	3,547	4,244
Provision for (recovery of) credit losses - loans	728	(554)
Recovery of credit losses - unfunded loan commitments	(376)	—
Share-based compensation	1,540	1,358
Gains on sales of loans originated for sale	(183)	(225)
Fair value adjustments on loans held for sale	89	(8)
Mortgage loans originated for sale	(10,054)	(11,225)
Proceeds from sales of loans originated for sale	12,872	12,811
Net gain on OREO and premises held for sale	—	(6)
Deferred income tax expense	2,612	5,766
Investment securities losses (gains)	2	(13)
Net losses on derivatives	27	180
Income from life insurance	(3,761)	(1,289)
Decrease (increase) in accrued interest receivable and other assets	1,042	(578)
Increase (decrease) in accrued interest payable and other liabilities	737	(10,805)
Other, net	363	346
Net cash provided by operating activities	25,537	10,953
Cash flows from investing activities
Maturities, repayments and calls of AFS securities	23,389	18,432
Purchases of AFS securities	(23,051)	(39,613)
Net purchases of restricted investments in bank stocks	2,733	539
Net (increase) decrease in loans	(38,509)	61,262
Investment in limited partnerships	(926)	(369)
Purchases of bank premises and equipment	(422)	(2,315)
Proceeds from disposal of OREO and premises held for sale	—	1,931
Death benefit proceeds from life insurance contracts	4,427	—
Net cash (used in) provided by investing activities	(32,359)	39,867
continued

	March 31, 2026	March 31, 2025
Cash flows from financing activities
Net increase in deposits	98,650	10,620
Net decrease in borrowings with original maturities less than 90 days	(48,269)	(2,733)
Proceeds from FHLB advances with original maturities greater than 90 days	95,000	—
Payments on FHLB advances with original maturities greater than 90 days	(120,000)	(15,000)
Dividends paid	(5,857)	(5,044)
Acquisition of treasury stock	(429)	—
Shares repurchased as treasury stock for employee taxes associated with restricted stock vesting	(970)	(467)
Proceeds from issuance of employee stock purchase plan shares	75	66
Other	(16)	(16)
Net cash provided by (used in) financing activities	18,184	(12,574)
Net increase in cash and cash equivalents	11,362	38,246
Cash and cash equivalents at beginning of period	149,774	248,874
Cash and cash equivalents at end of period	$161,136	$287,120
	Three Months Ended
	March 31, 2026	March 31, 2025
Supplemental disclosures of cash flow information:
Cash paid during the period for:
Interest	$25,716	$26,643
Income taxes	—	—
Supplemental schedule of noncash activities:
OREO acquired in settlement of loans	1,055	—
Lease liabilities arising from obtaining ROU assets	—	831

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