Orrstown Q1 EPS $0.81 ($0.88 adjusted); nonaccrual loans halved to $12.9M; deposits up $137M

ORRSTOWN FINANCIAL SERVICES INC

2024-Q1 EPS reported $0.81

Diluted EPS $0.81 ($0.88 adjusted); net income $8.5M vs $7.6M in Q4 2023.
Nonaccrual loans fell to $12.9M (0.56% of loans) from $25.5M after $13.4M CRE loan payoff.
Net interest margin 3.77% (3.71% Q4) aided by $1.6M interest recovery on payoff.
Deposits grew $137M to $2.7B; loan-to-deposit ratio improved to 85% from 90%.
Dividend $0.20/share payable May 14; tangible book value $23.47 (+$0.44 QoQ).

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 three months ended March 31, 2024 results: net income $8.5 million, EPS $0.81.

Period: three months ended March 31, 2024
Net income: $8.5 million
EPS: $0.81
Result: reported results

Exact text from the filing

Net income totaled $8.5 million for the three months ended March 31, 2024, compared to $7.6 million for the three months ended December 31, 2023 and $9.2 million for the three months ended March 31, 2023. Diluted earnings per share totaled $0.81 for the three months ended March 31, 2024, compared to $0.73 for the three months ended December 31, 2023 and $0.87 for the three months ended March 31, 2023.

View on SEC.gov

1341 earnings releases filed in the last 30 days. Browse all earnings releases →

ORRSTOWN FINANCIAL SERVICES INC filing history →

Source: SEC EDGAR

accession 0000826154-24-000068

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.