secwatch.observer — SEC 8-K summary
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Issuer:     ORRSTOWN FINANCIAL SERVICES INC (ORRF)
CIK:        0000826154
Form:       8-K
Filed at:   2023-07-25T23:59:59+00:00
Accession:  0000826154-23-000123
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Orrstown Q2 net income $9.8M ($0.94 EPS); NIM 3.83%, dividend $0.20
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- Net income $9.8M ($0.94 diluted EPS) vs $0.87 Q1 and $0.83 year ago.
- Net interest margin 3.83% (down from 3.94% Q1) due to higher funding costs.
- Noninterest income $7.2M including $1.2M gain from Path Valley branch sale.
- Deposits up $7.2M; uninsured deposits at 16% vs 19% prior quarter.
- TBVPS $21.19; bought back 76,330 shares at $18.58 avg.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/826154/000082615423000123/0000826154-23-000123-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/826154/000082615423000123/orrf-20230725.htm
  HTML page:      https://secwatch.observer/filing/0000826154-23-000123

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer