Orrstown Financial (ORRF) Reports Q1 EPS of $0.30

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Go back to Orrstown Financial (ORRF) Reports Q1 EPS of $0.30

Orrstown Financial Services, Inc. Announces First Quarter Earnings of $2.5 Million and Quarterly Cash Dividend of $0.07 Per Share

April 22, 2015 5:47 PM EDT

Net income for the three months ended March 31, 2015 totaled $2.5 million, or $0.30 per diluted share, compared to $2.0 million, or $0.24 per diluted share, for the same period in 2014. Gross loans outstanding, excluding loans held for sale, increased $22.8 million, or 3.2%, for the three months ended March 31, 2015 and totaled $727.8 million. The allowance for loan losses remained strong and totaled 1.99% of total loans outstanding and 104.1% of nonaccrual loans at March 31, 2015. The Board of Directors declared a cash dividend of $0.07 per common share, payable May 21, 2015, to shareholders of record as of May 8, 2015.

SHIPPENSBURG, Pa., April 22, 2015 (GLOBE NEWSWIRE) -- Orrstown... More

Orrstown Financial Services, Inc. Announces First Quarter Earnings of $2.5 Million and Quarterly Cash Dividend of $0.07 Per Share

April 22, 2015 5:47 PM EDT

Net income for the three months ended March 31, 2015 totaled $2.5 million, or $0.30 per diluted share, compared to $2.0 million, or $0.24 per diluted share, for the same period in 2014. Gross loans outstanding, excluding loans held for sale, increased $22.8 million, or 3.2%, for the three months ended March 31, 2015 and totaled $727.8 million. The allowance for loan losses remained strong and totaled 1.99% of total loans outstanding and 104.1% of nonaccrual loans at March 31, 2015. The Board of Directors declared a cash dividend of $0.07 per common share, payable May 21, 2015, to shareholders of record as of May 8, 2015.

SHIPPENSBURG, Pa., April 22, 2015 (GLOBE NEWSWIRE) -- Orrstown... More