Last $16.55 USD
Change Today +0.15 / 0.91%
Volume 1.9K
ORRF On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 8:10 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

orrstown finl services inc (ORRF) Snapshot

Open
$16.51
Previous Close
$16.40
Day High
$16.74
Day Low
$16.51
52 Week High
01/3/14 - $17.50
52 Week Low
08/21/14 - $15.33
Market Cap
136.8M
Average Volume 10 Days
4.4K
EPS TTM
$1.59
Shares Outstanding
8.3M
EX-Date
04/26/12
P/E TM
10.4x
Dividend
--
Dividend Yield
--
Current Stock Chart for ORRSTOWN FINL SERVICES INC (ORRF)

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orrstown finl services inc (ORRF) Details

Orrstown Financial Services, Inc. operates as the bank holding company for Orrstown Bank that provides commercial banking and trust services in Pennsylvania and Maryland. The company offers various deposit products, including demand, time, savings, checking, and money market deposits. It also provides various loan products comprising commercial loans, such as commercial real estate, equipment, working capital, and other commercial purpose loans; consumer loans consisting of home equity loans, home equity lines of credit, and other consumer loans; construction, land development, and mortgage loans; and financial and agricultural loans. In addition, the company renders services as trustee, executor, administrator, guardian, managing agent, custodian, and investment advisor, as well as provides other fiduciary and retail brokerage services. Further, it offers a line of financial services, including brokerage, mutual funds, trusts, estate planning, investments, and insurance products. The company operates 22 offices in Cumberland, Franklin, Lancaster, and Perry Counties of Pennsylvania, as well as Washington County, Maryland. Orrstown Financial Services, Inc. was founded in 1919 and is headquartered in Shippensburg, Pennsylvania.

323 Employees
Last Reported Date: 03/14/14
Founded in 1919

orrstown finl services inc (ORRF) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $414.0K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $285.0K
Chief Operating Officer, Executive Vice Presi...
Total Annual Compensation: $285.0K
Executive Vice President, Treasurer, Assistan...
Total Annual Compensation: $209.4K
Senior Vice President of Retail Banking and C...
Total Annual Compensation: $180.3K
Compensation as of Fiscal Year 2013.

orrstown finl services inc (ORRF) Key Developments

Orrstown Financial Services Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Orrstown Financial Services Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, net interest income was $8.447 million against $7.766 million a year ago. Income before income tax was $5.201 million against $1.828 million a year ago. Net income was $5.177 million or $0.64 per diluted share against $2.109 million or $0.26 per diluted share a year ago. Return on average assets was 1.75% against 0.71% a year ago. Return on average equity was 19.92% against 9.61% a year ago. For the nine months, net interest income was $25.463 million against $23.574 million a year ago. Income before income tax was $10.052 million against $6.856 million a year ago. Net income was $10.028 million or $1.24 per diluted share against $7.077 million or $0.87 per diluted share a year ago. Return on average assets and return on average equity on an annualized basis were 1.15% and 13.61%, respectively, for the nine months ended September 30, 2014, compared to 0.79% and 10.77% for the nine months ended September 30, 2013.

Orrstown Financial Services Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Reports Loans Charge-Offs for the Second Quarter of 2014

Orrstown Financial Services Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total interest and dividend income of $9,585,000 compared to $8,989,000 a year ago. Net interest income was $8,500,000 compared to $7,701,000 a year ago. Income before income tax was $2,873,000 compared to $3,438,000 a year ago. Net income was $2,873,000 or $0.35 per basic and diluted share compared to $3,408,000 or $0.42 per basic and diluted share a year ago. Return on average assets was 0.97% compared to 1.14% a year ago. Return on average equity was 11.65% compared to 15.39% a year ago. Net interest income after provision for loan losses was $8,500,000 compared to $9,101,000 a year ago. For the six months, the company reported total interest and dividend income of $19,186,000 compared to $18,473,000 a year ago. Net interest income was $17,016,000 compared to $15,808,000 a year ago. Income before income tax was $4,851,000 compared to $5,028,000 a year ago. Net income was $4,851,000 or $0.6 per basic and diluted share compared to $4,968,000 or $0.61 per basic and diluted share a year ago. Return on average assets was 0.83% compared to 0.84% a year ago. Return on average equity was 10.14% compared to 11.35% a year ago. Net income for the three and six months was favorably influenced by a negative provision for loan losses of $1.4 million with no similar benefit in 2014. Net income for 2014 benefited from higher levels of gains on sales of securities and real estate owned sales, which, in the aggregate, were $893,000 and $1.5 million higher for the three and six months ended June 30, 2014 than in the same periods in the prior year. Net interest income after provision for loan losses was $17,016,000 compared to $17,208,000 a year ago. For the quarter, the company reported loans charged-off of $574,000 against $1,899,000 a year ago.

Orrstown Financial Services Inc. Announces Auditor Change

The Audit Committee of Orrstown Financial Services Inc. recommended to the Board of Directors that the company appoint Crowe Horwath LLP as the company’s new independent registered public accounting firm. The Board of Directors approved the appointment of Crowe Horwath as the new independent registered public accounting firm, and simultaneously, the dismissal of Smith Elliott Kearns & Company, LLC, effective on June 16, 2014.

 

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Industry Analysis

ORRF

Industry Average

Valuation ORRF Industry Range
Price/Earnings 10.4x
Price/Sales 2.4x
Price/Book 1.3x
Price/Cash Flow 10.6x
TEV/Sales 0.5x
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