Orrstown Financial (ORRF) Misses Q4 EPS by 5c

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Go back to Orrstown Financial (ORRF) Misses Q4 EPS by 5c

Orrstown Financial Services, Inc. Announces Fourth Quarter Earnings of $1.4 Million and Quarterly Cash Dividend of $0.08 Per Share

January 28, 2016 8:45 AM EST

Net income for the three months ended December 31, 2015, totaled $1.4 million, or $0.18 per diluted share, compared to $19.1 million, or $2.36 per diluted share, for the same period in 2014.  Net income for the year ended December 31, 2015 totaled $7.9 million, or $0.97 per diluted share, compared to $29.1 million, or $3.59 per diluted share, for the same period in 2014.Net income for both the three and twelve months ended December 31, 2014 was favorably impacted by the recapture of the deferred tax asset valuation allowance of $16.2 million, or $2.00 per share.Gross loans outstanding at December 31, 2015, excluding loans held for sale, totaled $781.7 million, an increase of $76.8... More