Orrstown Q4 net income $9.6M, EPS $0.91; full-year adj. EPS $3.25; dividend raised to $0.20

ORRSTOWN FINANCIAL SERVICES INC

2022-FY EPS reported $2.06 revenue$19,464,000

Q4 2022 net income $9.6M ($0.91 diluted EPS) vs Q3 net loss $4.8M ($0.47 loss) and Q4 2021 net income $6.7M ($0.60).
Full-year 2022 net income $22.0M ($2.06) vs 2021 $32.9M ($2.96); adjusted net income $34.8M ($3.25) excluding restructuring and legal settlement.
Net interest margin expanded to 4.14% from 3.92% in Q3; commercial loan growth ex-PPP +$56.6M (14% annualized).
Dividend increased to $0.20/share, payable Feb 14, 2023 to holders of record Feb 7, 2023.
Nonaccrual loans rose to 0.96% of total loans due to one $15.4M downgrade; provision for loan losses $0.6M.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ORRSTOWN FINANCIAL SERVICES INC reported the quarter and year ended December 31, 2022 results: net income $9.6 million, EPS $0.91.

Period: the quarter and year ended December 31, 2022
Net income: $9.6 million
EPS: $0.91
Result: reported results

Exact text from the filing

On January 24, 2023, Orrstown Financial Services, Inc. (the "Company") issued a press release to report earnings for the quarter and year ended December 31, 2022.

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3 earnings releases filed in the last 30 days. Browse all earnings releases →

ORRSTOWN FINANCIAL SERVICES INC filing history →

Source: SEC EDGAR

accession 0000826154-23-000003

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