Orrstown Financial Services, Inc. (ORRF)

ORRF Income Statement

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

Year Ending	TTM	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	138.42	126.6	93.53	84.23	87.49	75.07
Interest Income on Investments	26.23	23.3	15.13	9.47	12.14	17.92
Total Interest Income	164.65	149.9	108.65	93.7	99.63	92.99
Interest Paid on Deposits	51.48	37.51	6.34	4.2	12.01	19.31
Interest Paid on Borrowings	7.95	7.48	2.69	2.52	4.02	4.39
Total Interest Expense	59.43	44.99	9.02	6.72	16.02	23.7
Net Interest Income	105.22	104.91	99.63	86.97	83.61	69.3
Net Interest Income Growth (YoY)	-0.37%	5.30%	14.55%	4.03%	20.65%	32.86%
Trust Income	8.54	7.69	7.63	7.9	6.91	7.26
Gain (Loss) on Sale of Assets	1.1	1.1	-	-	2.8	-
Gain (Loss) on Sale of Investments	-0.05	-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	12.1	12.69	15.52	11.93	10.76	9.88
Total Non-Interest Income	26.22	25.65	26.87	29.15	28.31	28.28
Non-Interest Income Growth (YoY)	3.05%	-4.54%	-7.82%	2.98%	0.09%	34.53%
Revenues Before Loan Losses	131.44	130.56	126.5	116.13	111.92	97.58
Provision for Loan Losses	1.66	1.68	4.16	1.09	5.33	0.9
Revenue	129.78	128.88	122.34	115.04	106.59	96.68
Revenue Growth (YoY)	1.52%	5.34%	6.35%	7.92%	10.25%	33.57%
Salaries and Employee Benefits	50.32	48.63	45.85	42.05	41.26	37.91
Federal Deposit Insurance	1.8	1.96	1.08	0.82	0.69	0.37
Amortization of Goodwill & Intangibles	0.9	0.95	1.11	1.28	1.57	1.57
Selling, General & Administrative	22.97	22.84	22.98	21.45	20.88	20.16
Other Non-Interest Expense	8.35	8.41	8.63	8.54	8.16	7.72
Total Non-Interest Expense	85.08	82.78	79.65	74.14	72.56	67.72
EBT Excluding Unusual Items	44.69	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	41.83	45.03	26.62	40.9	32.51	19.63
Income Tax Expense	8.89	9.37	4.58	8.01	6.05	2.71
Earnings From Continuing Operations	32.94	35.66	22.04	32.88	26.46	16.92
Net Income to Common	32.94	35.66	22.04	32.88	26.46	16.92
Basic Shares Outstanding	10	10	11	11	11	10
Diluted Shares Outstanding	10	10	11	11	11	11
Shares Change (YoY)	-0.31%	-2.53%	-3.60%	0.65%	4.95%	23.16%
EPS (Basic)	3.18	3.45	2.09	3.00	2.42	1.63
EPS (Diluted)	3.15	3.42	2.06	2.96	2.40	1.61
EPS Growth	38.92%	66.02%	-30.41%	23.33%	49.07%	7.33%
Effective Tax Rate	21.25%	20.81%	17.20%	19.60%	18.60%	13.80%
Dividend Per Share	0.800	0.800	0.760	0.740	0.680	0.600
Dividend Growth	2.56%	5.26%	2.70%	8.82%	13.33%	17.65%

Source: S&P Capital IQ. Banks template.