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Orrstown redeems $31M sub notes due 2030; discloses third-party vendor cyber incident affecting customers
Redemption of $31M 4.5% Fixed-to-Floating Rate Subordinated Notes due 2030 on June 30, 2026, at 100% of principal plus accrued interest. Rate at Mar 31, 2026: 7.72%.
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Orrstown Financial elects Adam L. Metz as President and CEO effective June 1, 2026
Adam L. Metz, 54, will become President, CEO and Director upon retirement of Thomas R. Quinn, Jr. on June 1, 2026.
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Orrstown Q1 net income $21.8M ($1.12 EPS); deposits grow $98.7M, NIM down to 3.90%
Net income $21.8M, diluted EPS $1.12 vs $1.11 Q4'25 and $0.93 Q1'25; ROAA 1.59%, ROAE 14.76%.
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Orrstown Financial Q4 net income $21.5M; raises quarterly dividend to $0.30
Net income $21.5M ($1.11 diluted EPS) for Q4; annual net income $80.9M ($4.18 EPS), record high.
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Orrstown Q3 net income $21.9M, EPS $1.13; record earnings, loan growth 5%
Net income $21.9M, diluted EPS $1.13; Q2 2025: $19.4M, $1.01; Q3 2024: net loss $7.9M, -$0.41.
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Orrstown to redeem all $32.5M of 6.0% subordinated notes due 2028 on Sept 30, 2025
Board approved redemption of $32,500,000 outstanding 6.0% fixed-to-floating rate subordinated notes.
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Orrstown Q2 net income $19.4M ($1.01 EPS); dividend raised to $0.27, share repurchase authorized
Net income $19.4M ($1.01 diluted EPS) vs $18.1M ($0.93) prior quarter; adjusted EPS $1.04.
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Orrstown Financial Q1 net income $18.1M, EPS $0.93; adjusted EPS $1.00
Net income $18.1M ($0.93 diluted) vs $13.7M ($0.71) in Q4 2024 and $8.5M ($0.81) in Q1 2024.
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Orrstown Q4 net income $13.7M ($0.71 EPS); raises dividend 13% to $0.26
Net income of $13.7M vs Q3 net loss of $7.9M; adjusted net income $16.7M ($0.87 EPS).
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Orrstown Financial Services reports Q3 2024 net loss of $7.9M after merger with Codorus Valley Bancorp
Net loss was $7.9M ($0.41 per diluted share) for Q3 2024, vs net income of $7.7M in Q2 2024.
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Orrstown files pro forma financials for $234M merger with Codorus Valley, combined assets $5.4B
Pro forma combined total assets of $5.39B at March 31, 2024.
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Orrstown Q2 net income $7.7M; raises dividend to $0.23; Codorus merger closed
GAAP net income $7.7M ($0.73 diluted EPS); adjusted net income $8.7M ($0.83 EPS) excluding $1.1M merger costs.
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Orrstown completes merger with Codorus Valley; 0.875 exchange ratio, combined entity trades as ORRF
Merger of equals completed July 1, 2024; CVLY shareholders receive 0.875 ORRF shares per share.
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Orrstown and Codorus Valley receive regulatory approvals for merger; close expected July 1, 2024
Received approvals from the Federal Reserve and Pennsylvania Department of Banking and Securities.
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Orrstown and Codorus Valley shareholders approve merger of equals
Orrstown shareholders approved share issuance: 6,968,156 for, 113,059 against, 18,675 abstain.
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Orrstown Q1 EPS $0.81 ($0.88 adjusted); nonaccrual loans halved to $12.9M; deposits up $137M
Diluted EPS $0.81 ($0.88 adjusted); net income $8.5M vs $7.6M in Q4 2023.
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Orrstown posts record FY23 net income $35.7M ($3.42 EPS); Q4 EPS $0.73, merger costs $1.1M
Full-year 2023 net income $35.7M, up 62% YoY from $22.0M; diluted EPS $3.42 vs $2.06, a record.
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Orrstown refiles corrected merger presentation for Codorus Valley Bancorp deal
Merger of equals between Orrstown (ORRF) and Codorus Valley Bancorp (CVLY) announced Dec 12, 2023.
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Orrstown to acquire Codorus Valley in stock deal; Kauffman to become CEO
Codorus Valley shareholders to receive 0.875 Orrstown shares per CVLY share (exchange ratio).
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Orrstown Q3 net income $9.0M ($0.87 EPS); net interest margin 3.73%, loan growth 6% annualized
Net income of $9.0M, diluted EPS $0.87 vs $0.94 in Q2 2023; net interest margin (TE) 3.73% vs 3.83%.
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Orrstown Q2 net income $9.8M ($0.94 EPS); NIM 3.83%, dividend $0.20
Net income $9.8M ($0.94 diluted EPS) vs $0.87 Q1 and $0.83 year ago.
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Orrstown Q1 net income $9.2M ($0.87 EPS); NIM compresses, deposits grow
Net income of $9.2M ($0.87 diluted EPS) in Q1 2023 vs $9.6M ($0.91) in Q4 2022 and $8.4M ($0.76) in Q1 2022.
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Orrstown Q4 net income $9.6M, EPS $0.91; full-year adj. EPS $3.25; dividend raised to $0.20
Q4 2022 net income $9.6M ($0.91 diluted EPS) vs Q3 net loss $4.8M ($0.47 loss) and Q4 2021 net income $6.7M ($0.60).
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Orrstown settles shareholder class action for $15M; company contributes $13M
Settlement resolves securities class action filed in 2012; Orrstown pays $13M of the $15M total.
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Orrstown settles shareholder class action for $15M; records $13M charge, posts Q3 net loss
Agreed to settle class action lawsuit; company contributes $13M of the $15M total payment; mutual release and dismissal with prejudice.