Orrstown financial services, inc. (ORRF)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities
Net income

18,890

16,924

13,842

10,957

12,282

12,805

11,659

10,417

9,713

8,090

10,012

8,680

6,050

6,628

6,149

7,168

7,992

7,874

25,539

28,255

29,626

29,142

12,955

9,887

10,422

10,004

8,107

-15,354

-28,676

-38,454

-68,966

-43,300

-44,009

-31,964

0

0

0

Adjustments to reconcile net income to net cash provided by operating activities:
Net (discount accretion) premium amortization

3,280

2,547

1,544

-2,662

-974

-1,406

-2,002

-2,504

-3,221

-4,034

-4,827

-5,195

-5,237

-5,295

-5,276

-5,583

-5,871

-6,033

-6,148

-6,809

-6,605

-6,429

-6,045

-5,840

-6,785

-7,147

-7,693

-7,397

-7,078

-6,948

-6,620

-6,132

-5,371

-5,414

0

0

0

Depreciation and amortization expense

5,856

5,547

5,040

4,287

3,852

3,642

3,455

3,447

3,239

3,265

3,153

3,032

3,105

2,951

2,926

2,902

2,907

2,907

2,930

2,795

2,814

2,838

2,810

2,964

2,921

2,817

2,726

2,678

2,620

2,613

2,686

2,681

2,657

2,778

0

0

0

Provision for loan losses

1,425

900

1,100

1,000

1,000

800

1,400

1,300

1,200

1,000

200

350

250

250

250

-603

-603

-603

0

0

0

-

-

-

-

-

-

-

-

48,300

73,550

76,350

74,580

58,575

0

0

0

Share-based compensation

1,612

1,586

1,535

1,248

1,512

1,493

1,450

1,644

1,563

1,386

1,228

1,125

1,021

958

993

948

846

740

636

464

312

190

83

102

102

129

148

44

44

23

0

0

0

-

-

-

-

Net change in loans held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,223

2,516

-1,036

-4,528

-5,926

-6,401

-1,680

3,012

5,309

579

-120

361

-140

0

0

0

Gain on sales of loans originated for sale

3,479

2,613

2,110

1,987

1,981

2,144

2,383

2,449

2,567

2,447

2,552

2,898

2,844

2,998

2,727

2,409

2,476

2,344

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Mortgage loans originated for sale

0

-

0

0

0

-

0

0

106,555

-

102,205

109,290

106,639

108,632

101,766

88,995

88,013

85,995

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of loans originated for sale

116,565

108,885

96,324

88,634

89,289

94,727

105,401

106,605

108,427

103,131

99,963

112,913

108,947

114,139

104,061

88,366

91,535

85,116

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of portfolio loans

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net gain on disposal of OREO

-

-

-

-

-

-

-

-

-

18

105

100

134

182

117

153

282

234

235

213

306

299

264

263

-27

-149

-108

-46

44

28

-39

-110

-121

-1

0

0

0

Writedown of OREO

-

-

-

-

-

-

-

-

-

4

35

92

135

183

176

140

96

45

0

0

0

-

-

-

-

-

-

-

-

535

603

679

826

517

0

0

0

Writedown of other real estate owned

-

-

-

-

-

-

-

-

-

4

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net loss on disposal of premises and equipment

-10

-139

-133

-625

-147

-12

-16

6

-18

18

-83

-83

-81

-147

-46

-46

-25

0

0

1

5

-41

-41

-42

-46

0

0

0

0

-

-

-

-

-

-

-

-

Deferred income taxes

-2,589

-1,776

-1,135

-288

-485

-543

-3,605

-2,851

-2,982

-3,078

-203

230

595

232

963

-553

-799

-797

14,669

15,236

15,497

16,223

0

0

0

-

-

-

-

-20,384

-11,075

13,883

15,833

15,136

0

0

0

Investment securities losses (gains)

4,370

4,749

4,846

2,547

529

1,006

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment securities gains

-

-

-

-

-

-

-

-

-

-

-

-

3

-

1,433

1,462

1,815

1,924

2,178

2,618

2,867

1,935

1,721

1,409

807

332

279

120

2,715

4,824

7,849

10,202

8,076

6,224

0

0

0

Gains on sale of rate swap

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

791

0

0

0

Income from life insurance

2,242

2,044

1,867

1,921

1,528

1,463

1,396

1,138

1,118

1,109

1,103

1,100

1,099

1,099

1,104

1,101

1,064

1,025

971

940

945

950

952

955

958

963

0

0

0

-

-

-

-

-

-

-

-

Earnings on cash surrender value of life insurance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

Increase in accrued interest receivable

-1,004

-1,248

-208

-371

1,438

879

1,141

1,101

798

376

562

708

522

827

153

400

533

748

386

404

-235

-303

-155

-666

-160

212

-390

28

-987

-1,360

-1,476

-2,092

-1,418

-1,167

0

0

0

Decrease in accrued interest payable and other liabilities

-3,292

-5,291

-2,876

-3,669

386

2,696

131

6,641

2,027

2,012

2,405

466

892

561

1,700

2,885

1,746

2,017

-4,120

-1,449

-266

1,046

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Increase (decrease) in accrued interest payable and other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Decrease in accrued interest payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

Other, net

-575

-2,053

-2,282

-3,374

-2,777

-535

746

1,592

1,930

-52

-225

-815

-553

135

-982

855

549

498

1,372

18

-563

-1,629

-15,736

-14,118

-14,553

-12,356

-1,091

4,675

14,005

13,516

15,017

6,736

1,124

-1,601

0

0

0

Net cash provided by operating activities

13,092

9,090

10,812

14,306

17,957

22,487

22,141

22,743

17,377

16,350

14,585

17,768

14,435

15,587

14,296

12,613

16,482

12,158

9,447

11,491

14,014

17,258

0

0

0

-

-

-

-

18,658

24,903

31,808

33,563

34,855

0

0

0

Net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Cash flows from investing activities
Proceeds from sales of AFS securities

140,464

199,928

243,094

242,589

153,251

156,364

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net (increase) in interest bearing deposits with banks and short term investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Proceeds from sales of available for sale securities

-

-

-

-

-

-

-

-

-

-

0

0

35,071

-

64,755

69,760

88,972

65,611

83,717

126,667

143,388

169,573

200,208

157,987

122,054

74,273

25,519

20,039

83,020

94,099

149,998

215,731

161,771

158,564

0

0

0

Maturities, repayments and calls of AFS securities

47,456

33,265

28,514

26,611

21,568

18,373

19,501

22,003

25,557

28,768

31,085

30,758

29,698

30,192

27,991

28,797

31,229

32,251

34,746

37,188

38,153

41,520

50,702

61,033

75,751

86,581

93,672

93,629

93,648

85,481

82,622

74,492

64,396

65,407

0

0

0

Purchases of AFS securities

131,898

190,530

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of AFS securities

-

-

-

-

-

-

-

-

0

-

0

0

172,983

-

74,392

40,510

100,616

120,475

109,268

155,351

107,490

175,014

302,032

248,133

278,286

282,859

194,629

203,555

222,340

176,788

173,822

149,458

133,479

94,410

0

0

0

Net redemptions of restricted investments in bank stocks

2,873

2,684

-849

-5,503

-2,083

592

-132

5,625

4,698

2,027

2,854

1,292

1,154

-750

-491

-3,419

-1,408

370

-2,228

-78

-1,336

-1,571

1,297

323

-568

117

-2,578

-2,541

-2,044

-1,954

858

2,164

3,111

2,960

0

0

0

Net increase in loans

59,698

46,157

17,308

54,091

83,250

99,828

108,085

133,088

146,605

130,791

143,785

109,582

103,985

108,509

84,963

81,250

78,196

78,776

84,618

82,337

63,718

44,222

7,876

8,445

1,101

-30,682

-71,908

-90,434

-134,265

-137,097

-99,589

-89,702

-17,249

34,461

0

0

0

Proceeds from sales of portfolio loans

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment in affordable housing limited partnerships

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

254

0

0

0

Purchases of bank premises and equipment

2,305

2,911

4,939

5,227

5,235

4,791

3,359

2,208

2,231

2,653

3,329

6,282

7,715

13,369

12,714

9,373

7,666

1,471

1,285

771

336

859

1,393

2,028

2,333

1,868

1,576

1,433

1,579

1,603

1,796

1,627

1,352

1,446

0

0

0

Improvements to OREO

-

-

-

-

-

-

-

-

-

-

-

-

-

-

39

39

35

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from disposal of OREO

-

-

-

-

-

-

-

-

-

541

750

767

922

1,090

1,106

1,500

1,891

1,839

1,550

1,637

2,668

2,415

2,284

1,821

1,066

1,188

2,429

3,189

3,000

3,733

3,373

2,526

2,053

1,378

0

0

0

Proceeds from disposal of bank premises and equipment

-

-

-

-

-

-

0

0

0

-

0

0

83

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of rate swap

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-911

0

0

0

Purchases of bank owned life insurance

-

-

-

-

-

900

900

1,500

1,500

600

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

40,815

18,962

109,533

18,702

-93,636

-139,396

-184,808

-196,616

-187,539

-145,892

-198,427

-195,184

-215,367

-128,891

-79,970

-33,651

-68,968

-107,346

-76,680

-67,146

19,744

727

0

0

0

-

-

-

-

195,726

243,529

235,184

109,999

94,957

0

0

0

Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Cash flows from financing activities
Net increase in deposits

-111,746

-71,561

-54,455

140,972

160,730

178,798

212,443

129,930

115,638

67,063

83,395

107,967

135,500

120,285

85,354

125,115

102,620

82,463

58,744

-18,851

-56,649

-50,686

-45,699

-53,778

-41,892

-84,649

-85,530

-108,901

-169,426

-131,863

-166,459

-115,847

6,325

28,490

0

0

0

Net decrease in borrowings with original maturities less than 90 days

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from FHLB advances

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on FHLB advances

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net decrease in borrowings with original maturities less than 90 days

-

-

-

-

-

-

0

0

50,317

-

28,719

27,169

721

18,708

-11,979

-59,883

-12,579

2,414

-1,448

49,356

26,451

27,710

30,959

27,301

33,577

49,382

13,254

-874

-38,508

-25,363

-15,468

-35,385

-32,998

-52,837

0

0

0

Proceeds from other short-term borrowings

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on other short-term borrowings

-

-

-

-

-

-

0

0

70,000

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from long-term debt

-

-

-

-

-

0

0

0

0

-

-

-

-

-

-

-

-

20,000

20,000

20,000

20,000

10,000

10,000

10,000

10,000

0

0

0

0

-

-

-

-

-

-

-

-

Payments on long-term debt

-

-

-

-

-

365

360

20,356

352

20,348

20,344

340

20,336

332

328

324

321

10,317

10,411

10,699

20,984

11,265

11,445

21,428

21,410

21,393

21,377

11,360

11,344

16,328

26,312

36,611

26,596

41,380

0

0

0

Subordinated note issuance costs

1

59

59

57

58

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid

6,643

6,150

5,681

5,079

4,788

4,375

4,165

3,928

3,665

3,488

3,231

3,143

3,057

2,898

2,817

2,653

2,486

1,822

1,161

579

0

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Net proceeds from issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

190

191

210

105

105

105

241

241

253

338

168

245

189

252

593

911

987

0

0

0

Acquisition of treasury stock

0

-

-

-

0

-

-

-

-

-

-

-

-

631

1,293

1,440

1,054

809

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Treasury shares repurchased for employee taxes associated with restricted stock vesting

1,478

1,772

1,694

294

638

651

651

651

307

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of stock for option exercises and employee stock purchase plan

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of stock for option exercises and employee stock purchase plan

-

-

-

-

-

-

-

-

-

137

136

126

126

105

106

40

40

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

47

0

0

0

Net cash provided by financing activities

-73,488

-60,405

-110,439

61,289

122,724

175,917

181,210

158,443

171,783

129,076

168,675

151,779

162,568

115,237

69,043

60,893

86,363

92,119

65,768

39,437

-31,077

-24,136

0

0

0

-

-

-

-

-173,365

-177,986

-159,094

-26,066

-40,268

0

0

0

Net increase (decrease) in cash and cash equivalents

-19,581

-32,353

9,906

94,297

47,045

59,008

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest

-

-

-

-

-

-

-

-

-

-

-

0

5,568

-

5,267

4,930

4,586

4,208

3,966

3,912

4,063

4,219

4,390

4,606

4,803

5,102

5,490

5,977

7,014

8,031

8,979

10,017

10,421

10,900

0

0

0

Cash paid for income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

800

0

0

0

0

0

0

0

0

0

0

1,225

1,267

1,310

1,376

1,542

3,700

0

0

0

Supplemental disclosures of cash flow information:
Cash paid during the period for:
Net cash used in financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Net increase (decrease) in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-15,167

-25,637

-38,364

1,933

3,369

39,855

33,877

-3,069

-1,465

-16,218

2,681

-6,151

-34,639

-44,324

-64,413

-113,128

-37,228

-41,187

-59,902

41,019

90,446

107,898

117,496

89,544

0

0

0

Supplemental disclosure of cash flow information:
Interest

25,133

24,313

21,512

17,694

15,023

12,930

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental schedule of noncash investing activities:
OREO acquired in settlement of loans

0

161

162

292

292

539

538

695

724

1,007

1,084

994

1,328

688

823

1,038

734

1,428

1,246

1,232

1,351

2,231

2,354

1,956

1,826

494

1,055

2,162

2,694

3,951

3,363

3,939

3,846

2,365

0

0

0

Lease liabilities arising from obtaining ROU assets

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Securities purchases not yet settled

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Security purchases not yet settled

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Security purchases not yet settled

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-