Orrstown Financial Services, Inc. (ORRF)

ORRF Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	176.33	126.6	93.53	84.23	87.49	75.07
Interest Income on Investments	32.62	23.3	15.13	9.47	12.14	17.92
Total Interest Income	208.95	149.9	108.65	93.7	99.63	92.99
Interest Paid on Deposits	69.5	37.51	6.34	4.2	12.01	19.31
Interest Paid on Borrowings	8.75	7.48	2.69	2.52	4.02	4.39
Total Interest Expense	78.25	44.99	9.02	6.72	16.02	23.7
Net Interest Income	130.7	104.91	99.63	86.97	83.61	69.3
Net Interest Income Growth (YoY)	22.87%	5.30%	14.55%	4.03%	20.65%	32.86%
Trust Income	9.94	7.69	7.63	7.9	6.91	7.26
Mortgage Banking Activities	1.46	0.59	0.33	5.91	5.27	3.05
Gain (Loss) on Sale of Assets	-0.1	1.1	-	-	2.8	-
Gain (Loss) on Sale of Investments	0.22	-0.05	-0.16	0.64	-0.02	4.75
Gain (Loss) on Sale of Equity Investments	-0.32	-0.32	-0.27	-0.27	-0.3	-0.06
Other Non-Interest Income	16.68	12.69	15.52	11.93	10.76	9.88
Total Non-Interest Income	32.68	25.65	26.87	29.15	28.31	28.28
Non-Interest Income Growth (YoY)	28.72%	-4.54%	-7.82%	2.98%	0.09%	34.53%
Revenues Before Loan Losses	163.38	130.56	126.5	116.13	111.92	97.58
Provision for Loan Losses	15.21	1.68	4.16	1.09	5.33	0.9
Revenue	148.17	128.88	122.34	115.04	106.59	96.68
Revenue Growth (YoY)	14.06%	5.34%	6.35%	7.92%	10.25%	33.57%
Salaries and Employee Benefits	58.9	48.63	45.85	42.05	41.26	37.91
Federal Deposit Insurance	2.18	1.96	1.08	0.82	0.69	0.37
Amortization of Goodwill & Intangibles	3.14	0.95	1.11	1.28	1.57	1.57
Selling, General & Administrative	32.45	22.84	22.98	21.45	20.88	20.16
Other Non-Interest Expense	11.03	8.41	8.63	8.54	8.16	7.72
Total Non-Interest Expense	107.7	82.78	79.65	74.14	72.56	67.72
EBT Excluding Unusual Items	40.47	46.09	42.69	40.9	34.03	28.96
Asset Writedown	-	-	0.08	-	-0.7	-
Legal Settlements	-	-	-13	-	-	-
Other Unusual Items	-	-	-	-	-	-0.62
Pretax Income	20.37	45.03	26.62	40.9	32.51	19.63
Income Tax Expense	4.36	9.37	4.58	8.01	6.05	2.71
Net Income	16.01	35.66	22.04	32.88	26.46	16.92
Net Income to Common	16.01	35.66	22.04	32.88	26.46	16.92
Net Income Growth	-57.47%	61.83%	-32.98%	24.25%	56.36%	32.17%
Basic Shares Outstanding	13	10	11	11	11	10
Diluted Shares Outstanding	13	10	11	11	11	11
Shares Change (YoY)	21.19%	-2.53%	-3.60%	0.65%	4.95%	23.16%
EPS (Basic)	1.28	3.45	2.09	3.00	2.42	1.63
EPS (Diluted)	1.26	3.42	2.06	2.96	2.40	1.61
EPS Growth	-64.75%	66.02%	-30.41%	23.33%	49.07%	7.33%
Dividend Per Share	0.830	0.800	0.760	0.740	0.680	0.600
Dividend Growth	5.06%	5.26%	2.70%	8.82%	13.33%	17.65%
Effective Tax Rate	21.41%	20.81%	17.20%	19.60%	18.60%	13.80%

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