How to Use Telephone Banking Have your account number and PIN available.* Dial 1-800-588-3092. The system's default is touch tone, press 2 to use
of reviewing the legislation and SBA guidance, and will continue to review guidance as it is released and will communicate accordingly. Local PPP Loan, or will use the full amount of first PPP loan Demonstrate at least 25 percent reduction in gross receipts in one quarter in 2020 in comparison to that same, quarter in 2019 (Example: 2nd Quarter 2019 vs. 2nd Quarter 2020 gross receipts) PPP Second Draw Loans cannot be greater than $2 million Refer to SBA
and/or other release documents prior to receipt of the prize and agree to use of their images by Orrstown Bank in conjunction with a press release
card reader The two devices should be almost touching Using Samsung Pay on the Gear S3 Simply press and hold the back key to launch Samsung Pay on your, be found by clicking here. Back to Top What kind of browser do I need? Online banking supports Current and Prior Major Release of the following browsers, made are required. PLEASE NOTE: If the back of the check is not properly endorsed, Orrstown Bank reserves the right to reject the check for deposit
SHIPPENSBURG, Pa., April 26 /PRNewswire-FirstCall/ -- Orrstown Financial Services, Inc. (OTC Bulletin Board: ORRF) has announced first quarter 2007 earnings of $2,863,000, a 14.6% increase over the $2,498,000 earned during the first three months of 2006. Primary earnings per share were $.47 for the first quarter 2007 compared to $.46 per share for the first quarter of 2006.
Return on average assets, return on average equity and return on average tangible equity were 1.44%, 12.95% and 17.29%, respectively for the first quarter of 2007, versus 1.69%, 17.55% and 18.26% for the first quarter of 2006.
The Board of Directors approved a second quarter cash dividend of $.21 per share payable to shareholders of record on May 11, 2007. This represents an increase of 5.0% over the dividend of $.20 declared during the second quarter of 2006. Year to date, 2007 dividends of $.42 are 10.5% ahead of 2006 dividends. The dividend will be paid on May 25, 2007.
The Board of Directors also approved a 5% stock dividend to be paid to shareholders of record on May 25, 2007 with distribution of shares to take place on June 15, 2007. Each shareholder will be granted one share for every twenty shares owned as of the record date. There will be a cash payment for any fractional shares.
Commenting on the first quarter results, Kenneth R. Shoemaker, President and Chief Executive Officer stated, "We are pleased with the overall results for the first quarter which showed improved operating results and steady growth. While we remain optimistic about the future prospects for success, the company continues to experience tighter interest rate margins due to an inverted yield curve. If the current interest rate environment continues, it could ultimately impact financial results." Continuing Shoemaker said, "We are delighted to announce the stock dividend action which rewards shareholders for their investment."
During the second quarter, The First National Bank of Newport will be merged into Orrstown Bank which will allow for greater operating efficiencies and benefit Newport customers through 16 additional banking offices and a wider array of products. We expect the consolidation to take place on June 15, 2007.
With over $820 million in assets, Orrstown Financial Services, Inc. and its subsidiaries, Orrstown Bank and The First National Bank of Newport, provide a full range of consumer and business financial services through twenty banking offices and five remote service facilities located in Cumberland, Franklin and Perry Counties of Pennsylvania and Washington County, Maryland. Orrstown Financial Services, Inc.'s stock is traded in the over- the-counter market under the symbol ORRF.
The following is a summary of financial highlights: For Quarter Ended: March 31, 2007 March 31, 2006 % Change Net Income $2,863,000 $2,498,000 + 14.6% Primary Earnings Per Share $.47 $.46 + 2.2% Diluted Earnings Per Share $.45 $.44 + 2.3% Dividends Per Share $.21 $.18 Return on Assets 1.44% 1.69% Return on Equity 12.95% 17.55% Return on Tangible Assets 1.50% 1.71% Return on Tangible Equity 17.29% 18.26% Balance Sheet Highlights: March 31, 2007 March 31, 2006 % Change Assets $821,998,000 $607,590,000 + 35.3% Loans, Gross $636,257,000 $473,679,000 + 34.3% Deposits $643,673,000 $476,343,000 + 35.1% Equity $90,840,000 $58,678,000 + 54.8% Tangible Equity $69,335,000 $56,762,000 + 22.2%
Certain statements in this release may constitute "forward looking statements" under the Private Securities Litigation Reform Act of 1995, which involve risk and uncertainties. Orrstown Financial's actual results may differ significantly from the results discussed in such forward-looking statements. Factors that might cause such a difference include, but are not limited to, economic conditions, competition in the geographic and business areas in which Orrstown Financial conducts its operations, fluctuations in interest rates, credit quality, and government regulation.
SOURCE Orrstown Financial Services, Inc.
Here are some helpful options
Orrstown Online Banking gives you a variety of services that help you use and manage your accounts, whenever and wherever you want.
Password Reset | Enroll | Demo | Online Security
It's no secret.Orrstown has a Checking Account that rewards you. Learn more about our new Relationship Premier Checking Account.
Orrstown Financial Advisors make it easy to manage all of your accounts with our simple online portals