---
schema_version: "secwatch.filing_event.v1"
accession: "0000826154-23-000080"
form_type: "8-K"
ticker: "ORRF"
cik: "0000826154"
company_name: "ORRSTOWN FINANCIAL SERVICES INC"
filed_at: "2023-04-25T23:59:59+00:00"
generated_at: "2026-06-16T17:49:29.148688+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Orrstown Q1 net income $9.2M ($0.87 EPS); NIM compresses, deposits grow

## Summary
- Net income of $9.2M ($0.87 diluted EPS) in Q1 2023 vs $9.6M ($0.91) in Q4 2022 and $8.4M ($0.76) in Q1 2022.
- Net interest margin (tax-equivalent) fell to 3.94% from 4.14% in Q4 2022; provision for credit losses was $0.7M under new CECL standard.
- Tangible book value per share rose to $20.50 from $19.47 at Dec 31, 2022; total deposits increased $39.4M (6% annualized).
- Commercial loan growth ex-PPP was $63.2M (15% annualized); company repurchased 54,262 shares at avg price $21.65.
- Board declared a cash dividend of $0.20 per share, payable May 16, 2023 to holders of record May 9, 2023.

## SEC filing metadata
- accession: 0000826154-23-000080
- form_type: 8-K
- ticker: ORRF
- cik: 0000826154
- company_name: ORRSTOWN FINANCIAL SERVICES INC
- filed_at: 2023-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/826154/000082615423000080/0000826154-23-000080-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/826154/000082615423000080/orrf-20230425.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000826154-23-000080
- JSON: https://secwatch.observer/filing/0000826154-23-000080.json
- Plain text: https://secwatch.observer/filing/0000826154-23-000080.txt

## Key facts
- Earnings Releases
  ORRSTOWN FINANCIAL SERVICES INC reported the three months ended March 31, 2023 results: net income Net income of $9.2 million, EPS diluted earnings per share of $0.87.
  - Period: the three months ended March 31, 2023
  - Net income: Net income of $9.2 million
  - EPS: diluted earnings per share of $0.87
  - Result: reported results
  source text: Net income of $9.2 million and diluted earnings per share of $0.87 for the three months ended March 31, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/826154/000082615423000080/0000826154-23-000080-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.