---
schema_version: "secwatch.filing_event.v1"
accession: "0000826154-24-000182"
form_type: "8-K"
ticker: "ORRF"
cik: "0000826154"
company_name: "ORRSTOWN FINANCIAL SERVICES INC"
filed_at: "2024-07-23T23:59:59+00:00"
generated_at: "2026-05-31T18:21:23.201255+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Orrstown Q2 net income $7.7M; raises dividend to $0.23; Codorus merger closed

## Summary
- GAAP net income $7.7M ($0.73 diluted EPS); adjusted net income $8.7M ($0.83 EPS) excluding $1.1M merger costs.
- Quarterly dividend increased $0.03 to $0.23/share (15% raise), payable Aug 15 to holders of record Aug 8.
- Merger of equals with Codorus Valley Bancorp closed July 1, 2024; combined assets ~$4.9B on standalone basis.
- Net interest margin (tax equivalent) 3.54%, stable excluding Q1's $1.6M nonaccrual recovery boost.
- Nonaccrual loans fell to $8.4M (0.36% of loans) from $12.9M; tangible book value per share rose to $24.08.

## SEC filing metadata
- accession: 0000826154-24-000182
- form_type: 8-K
- ticker: ORRF
- cik: 0000826154
- company_name: ORRSTOWN FINANCIAL SERVICES INC
- filed_at: 2024-07-23T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/826154/000082615424000182/0000826154-24-000182-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/826154/000082615424000182/orrf-20240723.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000826154-24-000182
- JSON: https://secwatch.observer/filing/0000826154-24-000182.json
- Plain text: https://secwatch.observer/filing/0000826154-24-000182.txt

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