Orrstown Financial (ORRF) Raises Quarterly Dividend 20% to $0.12; 1.8% Yield

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Go back to Orrstown Financial (ORRF) Raises Quarterly Dividend 20% to $0.12; 1.8% Yield

Orrstown Financial Services, Inc. Announces Third Quarter Earnings of $2.8 Million And Quarterly Cash Dividend of $0.12 Per Share

October 25, 2017 4:15 PM EDT

Net income for the three months ended September 30, 2017 totaled $2.8 million, or $0.34 per diluted share, compared with $1.4 million, or $0.18 per diluted share, for the same period in 2016. Net income for the nine months ended September 30, 2017 totaled $8.1 million, or $0.98 per diluted share, compared with $4.7 million, or $0.58 per diluted share, for the same period in 2016.Gross loans outstanding at September 30, 2017, excluding loans held for sale, totaled $981.2 million, an increase of $97.8 million, or 14.8% 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 September 30, 2017 increased 15.8% over September 30, 2016.Deposits totaled $1.22 billion at... More