Orrstown Financial (ORRF) Raises Quarterly Dividend 11.1% to $0.10; 1.8% Yield

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Go back to Orrstown Financial (ORRF) Raises Quarterly Dividend 11.1% to $0.10; 1.8% Yield

Orrstown Financial Services, Inc. Announces First Quarter Earnings of $2.0 Million And Quarterly Cash Dividend of $0.10 Per Share

April 27, 2017 9:01 AM EDT

Net income for the three months ended March 31, 2017 totaled $2.0 million, or $0.25 per common share ($0.24 per diluted share), compared with $2.6 million, or $0.32 per common and diluted share, for the same period in 2016.Gross loans outstanding at March 31, 2017, excluding loans held for sale, totaled $901.3 million, an increase of $17.9 million, or 8.2%, on an annualized basis compared with the balance of $883.4 million at December 31, 2016. In a year-over-year comparison, gross loans outstanding at March 31, 2017 increased 12.0% over March 31, 2016.Deposits totaled $1.18 billion at March 31, 2017 and grew at an 11.1% annualized basis compared with the $1.15 billion balance at December 31, 2016.Net interest income totaled $10.2... More