ORRF - Dividend announcements

Net income of $21.8 million, or $1.12 per diluted share, for the three months ended March 31, 2026 compared to net income of $21.5 million, or $1.11 per diluted share, for the three months ended December 31, 2025;Return on average assets was 1.59% and return on average equity was 14.76% for the three months ended March 31, 2026, compared to 1.55% and 14.73%, respectively, for the three months ended December 31, 2025;Net interest margin, on a tax equivalent basis, was 3.90% in the first quarter of 2026 compared to 4.00% in the fourth quarter of 2025;Total loans increased by $40.6 million, or approximately 4% annualized, from December 31, 2025 to March 31, 2026;Deposits increased by $98.7 mill

Net income of $21.5 million, or $1.11 per diluted earnings per share, for the three months ended December 31, 2025 compared to net income of $21.9 million, or $1.13 per diluted earnings per share, for the three months ended September 30, 2025;Net income of $80.9 million and diluted earnings per share of $4.18 for the year ended December 31, 2025 compared to net income of $22.1 million and diluted earnings per share of $1.48 for the year ended December 31, 2024;Adjusted net income and diluted earnings per share totaled $82.9 million(1) and $4.28(1), respectively, for the year ended December 31, 2025 compared to $56.1 million(1) and $3.76(1), respectively, for the year ended December 31, 2024

Net income of $21.9 million, or $1.13 per diluted share, for the three months ended September 30, 2025 compared to net income of $19.4 million, or $1.01 per diluted share, for the three months ended June 30, 2025; excluding the impact of $1.0 million in merger-related expenses, net of taxes, net income and diluted earnings per share for the second quarter of 2025 were $20.2 million(1) and $1.04(1), respectively;Return on average assets was 1.60% and return on average equity was 15.72% for the three months ended September 30, 2025, compared to 1.45% and 14.56% for the return on average assets and return on average equity, respectively, for the three months ended June 30, 2025;Excluding the im

Net income of $19.4 million, or $1.01 per diluted share, for the three months ended June 30, 2025 compared to net income of $18.1 million, or $0.93 per diluted share, for the three months ended March 31, 2025; the second quarter of 2025 included $1.0 million in merger-related expenses compared to $1.6 million in merger-related expenses for the first quarter of 2025;Excluding the impact of the merger-related expenses referenced above, net of taxes, net income and diluted earnings per share were $20.2 million(1) and $1.04(1), respectively, for the second quarter of 2025 compared to $19.3 million(1) and $1.00(1), respectively, for the first quarter of 2025;Net interest margin, on a tax equivale

Net income of $18.1 million, or $0.93 per diluted share, for the three months ended March 31, 2025 compared to net income of $13.7 million, or $0.71 per diluted share, for the three months ended December 31, 2024; the first quarter of 2025 included $1.6 million in expenses related to the merger compared to $3.9 million in expenses related to the merger and $0.5 million for a legal settlement for the fourth quarter of 2024;Excluding the impact of the non-recurring charges referenced above, net of taxes, net income and diluted earnings per share were $19.3 million(1) and $1.00(1), respectively, for the first quarter of 2025 compared to $16.7 million(1) and $0.87(1), respectively, for the fourt

Net income of $13.7 million, or $0.71 per diluted share, for the three months ended December 31, 2024 compared to net loss of $7.9 million, or $0.41 per diluted share, for the three months ended September 30, 2024; the fourth quarter of 2024 included $3.9 million in expenses related to the merger and $0.5 million for a legal settlement compared to $17.0 million in expenses related to the merger, $15.5 million of provision for credit losses on non-purchase credit deteriorated loans and $4.8 million for an executive retirement, net of taxes, for the third quarter of 2024;Excluding the impact of the non-recurring charges referenced above, net income and diluted earnings per share, respectively,

Orrstown Financial Services, Inc. ("Orrstown" or the "Company") closed the merger of equals transaction with Codorus Valley Bancorp, Inc. ("Codorus") on July 1, 2024, creating a premier Pennsylvania and Maryland community bank; as a result, the Company's results for the three months ended September 30, 2024 reflect the combined operating results of the combined companies;Codorus contributed, after fair value purchase accounting adjustments, approximately $2.2 billion in total assets, $1.6 billion in loans, and $1.9 billion in deposits at July 1, 2024;Net loss of $7.9 million, or $0.41 per diluted share, for the three months ended September 30, 2024 compared to net income of $7.7 million, or

Orrstown Financial Services, Inc. ("Orrstown" or the "Company") closed the merger of equals transaction with Codorus Valley Bancorp, Inc. ("Codorus") on July 1, 2024; as a result, the second quarter results reported in this release reflect Orrstown's standalone operating results and do not reflect the combined operating results of the two companies;Net income of $7.7 million and diluted earnings per share of $0.73 for the three months ended June 30, 2024 compared to net income of $8.5 million and diluted earnings per share of $0.81 for the three months ended March 31, 2024;Excluding the impact of $1.0 million in expenses related to the merger, net of taxes, net income and diluted earnings pe

First quarter net income of $4.3 million compared to net income of $7.0 million in the quarter ended March 31, 2023, and $5.5 million in the quarter ended December 31, 2023;Net interest margin of 3.34% for the quarter ended March 31, 2024, a 66-basis point decrease from the net interest margin of 4.00% for the quarter ended March 31, 2023;Tier 1 leverage capital ratio of 10.80% for the quarter ending March 31, 2024, a 60-basis point increase from the tier 1 leverage capital ratio of 10.20% for the quarter ending March 31, 2023;Year-to-date efficiency ratio of 73.91%; return on average assets of 0.77%; and return on equity of 8.48%;Cash dividend of $0.17 per common share payable on May 14, 20

Net income of $8.5 million and diluted earnings per share of $0.81 for the three months ended March 31, 2024 compared to net income of $7.6 million and diluted earnings per share of $0.73 for the three months ended December 31, 2023;Excluding the impact of $0.7 million in expenses related to the pending merger of equals transaction with Codorus Valley Bancorp, Inc., net income and diluted earnings per share, respectively, were $9.2 million(1) and $0.88(1) for the first quarter of 2024 compared to net income and diluted earnings per share of $8.6 million(1) and $0.83(1), respectively, excluding the impact of $1.1 million in merger-related expenses recorded for the fourth quarter of 2023;As a

Fourth quarter net income of $5.5 million compared to net income of $7.9 million in the quarter ended December 31, 2022, and $5.9 million in the quarter ended September 30, 2023;Net income of $25.0 million for the year ended December 31, 2023, compared to net income of $20.1 million for the year ended December 31, 2022;Net interest margin of 3.76% for the year ended December 31, 2023, a 37-basis point increase from the net interest margin of 3.39% for the year ended December 31, 2022;Year-to-date efficiency ratio of 65.75%; return on average assets of 1.15%; and return on equity of 13.47%;Continued improvement in credit metrics with nonperforming assets to total loans of 0.23% at December 31

Net income of $7.6 million and diluted earnings per share of $0.73 for the three months ended December 31, 2023 compared to net income of $9.0 million and diluted earnings per share of $0.87 for the three months ended September 30, 2023; net income of $35.7 million and diluted earnings per share of $3.42 for the year ended December 31, 2023 compared to net income of $22.0 million and diluted earnings per share of $2.06 for the year ended December 31, 2022;On December 12, 2023, the Company and Codorus Valley Bancorp, Inc. ("Codorus Valley") announced that they have entered into a merger agreement pursuant to which Codorus Valley will be merged with and into the Company in a merger of equals t

Net income of $9.0 million and diluted earnings per share of $0.87 for the three months ended September 30, 2023 compared to net income of $9.8 million and diluted earnings per share of $0.94 for the three months ended June 30, 2023;Net interest margin, on a tax equivalent basis, was 3.73% in the third quarter of 2023 as compared to 3.83% in the second quarter of 2023;Return on average assets of 1.18% and return on average equity of 14.42% for the third quarter of 2023 compared to return on average assets of 1.32% and return on average equity of 16.27% during the second quarter of 2023;Third quarter total loan growth was $32.4 million, or 6% annualized; year-to-date total loan growth was $11

Net income of $9.8 million and diluted earnings per share of $0.94 for the three months ended June 30, 2023 compared to net income of $9.2 million and diluted earnings per share of $0.87 for the three months ended March 31, 2023 and net income of $8.9 million and diluted earnings per share of $0.83 for the three months ended June 30, 2022;Second quarter of 2023 return on average assets of 1.32% and return on average equity of 16.27% compared to return on average assets of 1.27% and return on average equity of 15.88% during the first quarter of 2023;Net interest margin, on a tax equivalent basis, was 3.83% in the second quarter of 2023 as compared to 3.94% in the first quarter of 2023 and 3.6

Net income of $9.2 million and diluted earnings per share of $0.87 for the three months ended March 31, 2023 compared to net income of $9.6 million and diluted earnings per share of $0.91 for the three months ended December 31, 2022 and net income of $8.4 million and diluted earnings per share of $0.76 for the three months ended March 31, 2022;First quarter 2023 return on average assets of 1.27% and return on average equity of 15.88%;Tangible book value per share was $20.50 at March 31, 2023 compared to $19.47 at December 31, 2022. Tangible common equity improved from 7.1% at December 31, 2022 to 7.3% at March 31, 2023; capital impact of $13.0 million legal settlement expense and $3.2 millio

Net income of $9.6 million and diluted earnings per share of $0.91 for the three months ended December 31, 2022 compared to a net loss of $4.8 million and diluted loss per share of $0.47 for the three months ended September 30, 2022; net income of $22.0 million and diluted earnings per share of $2.06 for the year ended December 31, 2022 compared to net income of $32.9 million and diluted earnings per share of $2.96 for the year ended December 31, 2021;Excluding the impact from the third quarter provision for legal settlement ("legal settlement") and restructuring charge, net income and diluted earnings per share were $34.8 million(1) and $3.25(1), respectively, for the year ended December 31

Net income of $5.4 million and diluted earnings per share of $0.52 for the quarter ended September 30, 2022 compared to net income of $8.9 million and diluted earnings per share of $0.83 for the quarter ended June 30, 2022;Excluding the impact from the previously announced restructuring charge of $3.2 million, net income and diluted earnings per share were $7.9 million and $0.75(1) for the third quarter of 2022, respectively;Net interest income increased to $25.5 million for the three months ended September 30, 2022 compared to $24.1 million for the three months ended June 30, 2022 despite a decline of $1.4 million in Small Business Administration ("SBA") Paycheck Protection Program ("PPP")

Net income of $8.9 million and diluted earnings per share of $0.83 for the quarter ended June 30, 2022 compared to net income of $8.4 million and diluted earnings per share of $0.76 for the quarter ended March 31, 2022; earnings grew despite a significant reduction in Small Business Administration ("SBA") Paycheck Protection Program ("PPP") income and a higher provision for loan losses in the second quarter of 2022Return on average assets of 1.25% in the second quarter of 2022 compared to 1.20% in the first quarter of 2022Net interest margin on a tax equivalent basis increased to 3.68% in the second quarter of 2022 from 3.49% in the first quarter of 2022; reflects the deployment of excess li

Net income of $8.4 million and diluted earnings per share of $0.76 for the quarter ended March 31, 2022 compared to net income of $6.7 million and diluted earnings per share of $0.60 for the quarter ended December 31, 2021Net interest margin increased to 3.49% in the first quarter of 2022 from 3.35% in the fourth quarter of 2021; excess liquidity continues to be deployed into commercial loan production and investment security purchasesFirst quarter commercial loan growth, excluding Small Business Administration ("SBA") Paycheck Protection Program ("PPP") loans, was $59.7 million, or 17% annualized; consumer loans increased by $6.0 million, or 6% annualizedNoninterest income of $7.5 million i

Net income of $32.9 million and diluted earnings per share of $2.96 for the year ended December 31, 2021 compared to $26.5 million and diluted earnings per share of $2.40 for the year ended December 31, 2020; net income of $6.7 million for the quarter; diluted fourth quarter 2021 earnings per share of $0.60 compared to diluted earnings per share of $0.65 in the third quarter of 2021 and $0.91 in the fourth quarter of 2020Fourth quarter commercial loan growth, excluding Small Business Administration ("SBA") Paycheck Protection Program ("PPP") loans, was $110.5 million, or 34% annualized; full year commercial loan growth, excluding SBA PPP loans, was $268.3 million, or 24%Net interest margin i

Net income of $7.2 million for the quarter; diluted third quarter 2021 EPS of $0.65 per share versus $0.45 per share in the third quarter of 2020; net income of $26.2 million for the nine months ended September 30, 2021Second consecutive quarter of significant commercial loan growth; excluding Small Business Administration ("SBA") Paycheck Protection Program ("PPP") loans, third quarter commercial loan growth was $98.2 million, or 33% annualized, as our lending team continues to draw from both their long-standing and newly developed relationshipsTangible book value per share(1) increased to $21.98 at September 30, 2021 from $21.61 at June 30, 2021 and $19.93 at December 31, 2020Noninterest i

Net income of $8.8 million for the quarter; diluted second quarter 2021 EPS of $0.79 per share versus $0.92 per share in the first quarter of 2021 and $0.58 per share in the second quarter of 2020The Board of Directors declared a cash dividend of $0.19 per common share, payable August 9, 2021, to shareholders of record as of August 2, 2021, an increase from $0.18 per common share in the first quarter of 2021Commercial loan growth for the quarter, excluding Small Business Administration ("SBA") Paycheck Protection Program ("PPP") loans, was 24% annualized as loan demand was robust late in the second quarter of 2021; momentum continues with a strong commercial pipelineProvision expense of $0.6

Net income of $10.2 million for the quarter; diluted first quarter 2021 EPS of $0.92 per share versus $0.91 per share in the fourth quarter of 2020 as revenue generation continued at an elevated level, expenses declined and the impact of the COVID-19 pandemic on the loan portfolio continues to be limitedThe Company's Board of Directors authorized the future repurchase of up to 562,000 shares of its outstanding common stock, in addition to the 261,320 shares currently available to repurchase under its 2015 share repurchase program; shares available for repurchase total 7% of the Company's outstanding common stock at March 31, 2021Tangible book value per share(1) increased to $20.59 at March 3

Diluted fourth quarter 2020 EPS of $0.91 per share versus $0.45 per share in the third quarter of 2020 due to robust revenue growth combined with expense reductions; full year diluted EPS of $2.40 per shareTangible book value per share(1) increased to $19.93 at December 31, 2020 from $18.70 at September 30, 2020 and $17.65 at December 31, 2019, an increase of 12.9% for fiscal year 2020Small Business Administration Paycheck Protection Program ("SBA PPP") portfolio averaged $443 million in the three months ended December 31, 2020; $5.8 million of unearned net processing fees at December 31, 2020Continued efforts to assist clients, employees and communities affected by COVID-19; active particip