---
schema_version: "secwatch.filing_event.v1"
accession: "0000826154-24-000006"
form_type: "8-K"
ticker: "ORRF"
cik: "0000826154"
company_name: "ORRSTOWN FINANCIAL SERVICES INC"
filed_at: "2024-01-23T23:59:59+00:00"
generated_at: "2026-06-06T20:23:17.854825+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Orrstown posts record FY23 net income $35.7M ($3.42 EPS); Q4 EPS $0.73, merger costs $1.1M

## Summary
- Full-year 2023 net income $35.7M, up 62% YoY from $22.0M; diluted EPS $3.42 vs $2.06, a record.
- Q4 2023 net income $7.6M ($0.73 diluted) vs Q3 $9.0M; adjusted EPS $0.83 excl. $1.1M merger costs.
- Dividend declared $0.20/share, payable Feb 13, 2024 to holders of record Feb 6.
- Loans grew $31.5M in Q4 (6% annualized); deposits up $12.4M; net interest margin 3.71%.
- Tangible book value per share improved to $23.03 from $20.94 at Sep 30, 2023.

## SEC filing metadata
- accession: 0000826154-24-000006
- form_type: 8-K
- ticker: ORRF
- cik: 0000826154
- company_name: ORRSTOWN FINANCIAL SERVICES INC
- filed_at: 2024-01-23T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/826154/000082615424000006/0000826154-24-000006-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/826154/000082615424000006/orrf-20240123.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000826154-24-000006
- JSON: https://secwatch.observer/filing/0000826154-24-000006.json
- Plain text: https://secwatch.observer/filing/0000826154-24-000006.txt

## Key facts
- Earnings Releases
  ORRSTOWN FINANCIAL SERVICES INC reported the three months ended December 31, 2023 results: net income $7.6 million, EPS $0.73.
  - Period: the three months ended December 31, 2023
  - Net income: $7.6 million
  - EPS: $0.73
  - Result: reported results
  source text: Net income totaled $7.6 million for the three months ended December 31, 2023, compared to $9.0 million for the three months ended September 30, 2023 and $9.6 million for the three months ended December 31, 2022. Diluted earnings per share totaled $0.73 for the three months ended December 31, 2023, compared to $0.87 for the three months ended September 30, 2023 and $0.91 for the three months ended December 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/826154/000082615424000006/0000826154-24-000006-index.htm
- Earnings Releases
  ORRSTOWN FINANCIAL SERVICES INC reported the year ended December 31, 2023 results: net income $35.7 million, EPS $3.42.
  - Period: the year ended December 31, 2023
  - Net income: $35.7 million
  - EPS: $3.42
  - Result: reported results
  source text: Net income totaled $35.7 million and $22.0 million for the years ended December 31, 2023 and 2022, respectively. Diluted earnings per share totaled $3.42 for the year ended December 31, 2023, compared to diluted earnings per share of $2.06 for the year ended December 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/826154/000082615424000006/0000826154-24-000006-index.htm

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