secwatch.observer — SEC 8-K summary
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Issuer:     ORRSTOWN FINANCIAL SERVICES INC (ORRF)
CIK:        0000826154
Form:       8-K
Filed at:   2024-01-23T23:59:59+00:00
Accession:  0000826154-24-000006
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/826154/000082615424000006/0000826154-24-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/826154/000082615424000006/orrf-20240123.htm
  HTML page:      https://secwatch.observer/filing/0000826154-24-000006

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