Orrstown financial services, inc. (ORRF)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Interest income
Interest income
Loans

75,071

50,632

40,623

33,916

30,798

29,546

31,558

39,647

48,917

48,494

47,569

Investment securities - taxable

14,530

10,858

7,478

6,012

6,697

8,052

4,300

3,798

8,334

7,744

4,260

Investment securities - tax-exempt

2,054

3,850

3,134

1,826

1,059

550

1,066

1,704

2,972

2,069

1,172

Short-term investments

1,339

327

218

208

81

35

174

287

138

116

69

Total interest income

92,994

65,667

51,453

41,962

38,635

38,183

37,098

45,436

60,361

58,423

53,070

Interest expense
Deposits

19,310

10,229

6,134

4,811

3,606

3,678

4,445

6,712

9,368

10,682

12,481

Securities sold under agreements to repurchase

623

1,577

784

187

295

148

61

120

314

487

435

FHLB Advances

1,779

1,632

726

-

-

-

-

-

-

-

-

Long-term debt

-

-

-

419

400

333

505

716

1,072

1,519

3,584

Subordinated notes

1,987

73

0

0

-

-

-

-

-

-

-

Total interest expense

23,699

13,511

7,644

5,417

4,301

4,159

5,011

7,548

10,754

12,688

16,500

Net interest income

69,295

52,156

43,809

36,545

34,334

34,024

32,087

37,888

49,607

45,735

36,570

Provision for loan losses

900

800

1,000

250

-603

-3,900

-3,150

48,300

58,575

8,925

4,865

Net interest income after provision for loan losses

68,395

51,356

42,809

36,295

34,937

37,924

35,237

-10,412

-8,968

36,810

31,705

Noninterest income
Service charges on deposit accounts

3,404

3,233

3,057

5,445

-

-

-

-

-

-

-

Interchange income

3,281

2,821

2,618

-

-

-

-

-

-

-

-

Other service charges, commissions and fees

805

907

570

994

-

-

-

-

-

-

-

Loan swap referral fees

1,197

0

0

-

-

-

-

-

-

-

-

Trust and investment management income

7,255

6,576

6,400

5,091

-

-

-

-

-

-

-

Service charges on deposit accounts

-

-

-

-

5,226

5,415

5,716

6,227

6,411

6,388

5,846

Other service charges, commissions and fees

-

-

-

-

1,223

1,033

1,070

1,275

1,313

2,272

1,790

Trust and investment management income

-

-

-

-

4,598

4,687

4,770

4,575

4,216

3,606

2,645

Brokerage income

2,426

2,035

1,896

1,933

2,025

2,150

1,911

1,478

1,573

1,450

1,327

Mortgage banking activities

3,049

2,663

2,919

3,412

-

-

-

-

-

-

-

Mortgage banking activities

-

-

-

-

2,747

2,207

3,053

3,393

3,007

2,290

1,907

Income from life insurance

2,044

1,463

1,109

1,099

1,025

950

963

1,018

1,110

1,192

745

Investment securities (losses) gains

4,749

1,006

1,190

1,420

-

-

-

-

-

-

-

Merchant processing revenues

-

-

-

-

-

-

-

-

-

-

1,059

Other income

331

320

190

345

410

477

-

-

-

1,024

230

Merchant processing revenue

-

-

-

-

-

-

-

149

1,850

1,118

-

Other income (loss)

-

-

-

-

-

-

-7

323

916

-

-

Investment securities gains

-

-

-

-

1,924

1,935

332

4,824

6,224

3,636

1,661

Total noninterest income

28,541

21,024

19,949

19,739

19,178

18,854

17,808

23,262

26,620

22,976

17,210

Noninterest expenses
Salaries and employee benefits

39,495

32,524

30,145

26,370

24,056

23,658

22,954

19,864

17,506

19,120

16,037

Occupancy

4,325

3,084

2,806

2,491

-

-

-

-

-

-

-

Occupancy

-

-

-

-

2,221

2,251

2,055

1,975

1,987

2,002

2,013

Furniture and equipment

4,723

4,079

3,434

3,335

3,061

3,328

3,446

2,913

2,705

2,742

2,637

Data processing

3,599

2,674

2,271

2,378

2,026

1,866

682

574

1,161

1,278

1,077

Automated teller and interchange fees

1,015

806

767

740

692

569

451

-

-

730

731

Automated teller and interchange fees

-

-

-

748

798

865

1,054

989

897

-

-

Advertising and bank promotions

1,967

1,592

1,600

1,717

1,564

1,195

1,251

-

-

-

-

Advertising and bank promotions

-

-

-

-

-

-

-

1,411

1,246

1,209

-

Advertising and bank promotions

-

-

-

-

-

-

-

-

-

-

1,111

FDIC insurance

367

681

606

775

859

1,621

2,577

2,727

2,417

1,798

1,278

Legal fees

585

413

802

850

1,440

705

793

-

-

-

-

Other professional services

2,369

1,434

1,571

1,332

1,262

1,580

1,462

3,076

3,531

856

668

Directors' compensation

1,003

984

996

969

737

624

-

-

-

-

-

Directors' compensation

-

-

-

-

-

-

622

-

-

-

-

Collection and problem loan

-

-

-

-

447

729

674

2,297

1,167

450

159

Real estate owned

-

-

-

239

162

300

137

834

681

232

99

Taxes other than income

1,018

1,012

866

767

916

562

939

888

841

764

-

Taxes other than income

-

-

-

-

-

-

-

-

-

-

-555

Intangible asset amortization

1,600

286

102

99

-

-

210

209

-

-

-

Regulatory settlement

-

-

-

-1,000

0

0

-

-

-

-

-

Merger related and branch consolidation expenses

8,964

3,197

0

0

-

-

-

-

-

-

-

Insurance claim receivable (recovery) write-off

615

0

0

-

-

-

-

-

-

-

-

Goodwill impairment and intangible asset amortization

-

-

-

-

-

-

-

-

19,657

240

252

Other operating expenses

5,687

5,169

4,364

4,330

4,366

3,915

3,940

5,592

6,683

5,314

4,875

Total noninterest expenses

77,302

57,935

50,330

48,140

44,607

43,768

43,247

43,349

60,479

36,735

31,492

Income before income tax expense

19,634

14,445

12,428

7,894

9,508

13,010

9,798

-

-

-

-

Income before income taxes

-

-

-

-

-

-

-

-30,499

-42,827

23,051

17,423

Income tax expense

2,710

1,640

4,338

1,266

1,634

-16,132

-206

7,955

-10,863

6,470

4,050

Net income

16,924

12,805

8,090

6,628

7,874

29,142

10,004

-38,454

-31,964

16,581

13,373

Per share information:
Basic earnings per share (in usd per share)

1.63

1.53

1.00

0.82

0.97

3.59

1.24

-4.77

-3.98

2.18

2.09

Diluted earnings per share (in usd per share)

1.61

1.50

0.98

0.81

0.97

3.59

1.24

-4.77

-3.98

2.17

2.07

Dividends per share (in dollars per share)

0.60

0.51

0.42

0.35

0.22

0.00

0.00

0.00

0.69

0.89

0.88