Orrstown Financial Services, Inc. (ORRF)

ORRF Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	210.29	126.6	93.53	84.23	87.49
Interest Income on Investments	38.65	23.3	15.13	9.47	12.14
Total Interest Income	248.93	149.9	108.65	93.7	99.63
Interest Paid on Deposits	84.23	37.51	6.34	4.2	12.01
Interest Paid on Borrowings	9.45	7.48	2.69	2.52	4.02
Total Interest Expense	93.68	44.99	9.02	6.72	16.02
Net Interest Income	155.25	104.91	99.63	86.97	83.61
Net Interest Income Growth (YoY)	47.99%	5.30%	14.55%	4.03%	20.65%
Trust Income	16.35	7.69	7.63	7.9	6.91
Mortgage Banking Activities	1.84	0.59	0.33	5.91	5.27
Gain (Loss) on Sale of Assets	-	1.1	-	-	2.8
Gain (Loss) on Sale of Investments	0.25	-0.05	-0.16	0.64	-0.02
Gain (Loss) on Sale of Equity Investments	-	-0.32	-0.27	-0.27	-0.3
Other Non-Interest Income	12.11	12.69	15.52	11.93	10.76
Total Non-Interest Income	37.44	25.65	26.87	29.15	28.31
Non-Interest Income Growth (YoY)	45.93%	-4.54%	-7.82%	2.98%	0.09%
Revenues Before Loan Losses	192.69	130.56	126.5	116.13	111.92
Provision for Loan Losses	16.55	1.68	4.16	1.09	5.33
Revenue	176.14	128.88	122.34	115.04	106.59
Revenue Growth (YoY)	36.68%	5.34%	6.35%	7.92%	10.25%
Salaries and Employee Benefits	71.79	48.63	45.85	42.05	41.26
Occupancy Expenses	14.57	-	-	-	-
Federal Deposit Insurance	2.68	1.96	1.08	0.82	0.69
Amortization of Goodwill & Intangibles	5.74	0.95	1.11	1.28	1.57
Selling, General & Administrative	12.82	22.84	22.98	21.45	20.88
Other Non-Interest Expense	12.98	8.41	8.63	8.54	8.16
Total Non-Interest Expense	120.58	82.78	79.65	74.14	72.56
EBT Excluding Unusual Items	55.57	46.09	42.69	40.9	34.03
Asset Writedown	-	-	0.08	-	-0.7
Legal Settlements	-	-	-13	-	-
Other Unusual Items	-4.79	-	-	-	-
Pretax Income	27.81	45.03	26.62	40.9	32.51
Income Tax Expense	5.76	9.37	4.58	8.01	6.05
Net Income	22.05	35.66	22.04	32.88	26.46
Net Income to Common	22.05	35.66	22.04	32.88	26.46
Net Income Growth	-38.17%	61.83%	-32.98%	24.25%	56.36%
Basic Shares Outstanding	15	10	11	11	11
Diluted Shares Outstanding	15	10	11	11	11
Shares Change (YoY)	42.92%	-2.53%	-3.60%	0.65%	4.95%
EPS (Basic)	1.49	3.45	2.09	3.00	2.42
EPS (Diluted)	1.48	3.42	2.06	2.96	2.40
EPS Growth	-56.73%	66.02%	-30.41%	23.33%	49.07%
Dividend Per Share	0.860	0.800	0.760	0.740	0.680
Dividend Growth	7.50%	5.26%	2.70%	8.82%	13.33%
Effective Tax Rate	20.70%	20.81%	17.20%	19.60%	18.60%

Source: S&P Capital IQ. Banks template. Financial Sources.