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Orrstown Financial Services, Inc. - ORRF STOCK NEWS

Welcome to our dedicated news page for Orrstown Financial Services (Ticker: ORRF), a resource for investors and traders seeking the latest updates and insights on Orrstown Financial Services.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Orrstown Financial Services's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Orrstown Financial Services's position in the market.

Rhea-AI Summary
Orrstown Financial Services, Inc. reported positive first-quarter 2024 results with net income of $8.5 million and diluted earnings per share of $0.81. The company saw improvements in various financial aspects, including a decrease in nonaccrual loans and an increase in deposit growth. The Board of Directors declared a cash dividend of $0.20 per common share. Despite merger-related expenses, net income and diluted earnings per share showed growth compared to the previous quarter.
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Rhea-AI Summary
Orrstown Financial Services, Inc. announced net income of $7.6 million and diluted earnings per share of $0.73 for the three months ended December 31, 2023. The company also revealed a merger agreement with Codorus Valley Bancorp, Inc. with net income and diluted earnings per share of $8.6 million and $0.83 for the fourth quarter of 2023. The net interest margin, return on average equity, loan growth, deposit growth, non-interest income, and non-interest expenses all showed fluctuations in the financial results.
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Orrstown Financial Services, Inc. (ORRF) and Codorus Valley Bancorp, Inc. (CVLY) have announced a merger valued at $207.0 million, creating a premier Pennsylvania and Maryland community bank with $5.2 billion in assets and a market capitalization of $460 million. The merger will result in 51 branches serving Central and Eastern Pennsylvania and the Greater Baltimore, Maryland area. The all-stock transaction is expected to close in the third quarter of 2024.
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Orrstown Financial Services, Inc. reports net income of $9.0 million and diluted earnings per share of $0.87 for Q3 2023, compared to $9.8 million and $0.94 for Q2 2023. Net interest margin declined to 3.73% from 3.83%. Total loan growth was $32.4 million, or 6% annualized. Deposit growth was $23.6 million. Non-interest expenses decreased by $0.3 million. Non-interest income decreased by $1.3 million due to the sale of a branch. Tangible common equity ratio declined to 7.3%. Cash dividend declared of $0.20 per common share.
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Orrstown Financial Services, Inc.

Nasdaq:ORRF

ORRF Rankings

ORRF Stock Data

267.84M
9.81M
4.93%
49.8%
1.15%
Commercial Banking
Finance and Insurance
Link
US
Shippensburg

About ORRF

welcome to orrstown. it's personal here. with more than $1.2 billion in assets, orrstown financial services, inc. and its wholly-owned subsidiary, orrstown bank, provide a full range of consumer and business financial services through twenty banking offices and two remote service facilities located in cumberland, franklin and perry counties, pennsylvania and washington county, maryland. orrstown financial services, inc.’s stock is traded on nasdaq under the symbol orrf. equal housing lender; member fdic.