Orrstown Financial (ORRF) Raises Quarterly Dividend 8.3% to $0.13; 2.1% Yield
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Orrstown Financial Services, Inc. Reports First Quarter 2018 Net Income of $3.6 Million and Announces Quarterly Dividend of $0.13 per Share
April 18, 2018 4:05 PM EDTNet income for the quarter ended March 31, 2018 totaled $3.6 million, or $0.44 per diluted share, compared with $2.0 million, or $0.24 per diluted share, for the same period in 2017.Gross loans outstanding at March 31, 2018, excluding loans held for sale, totaled $1.04 billion, an increase of $34.1 million, or 13.7% annualized, compared with the December 31, 2017 balance totaling $1.01 billion.Deposits totaled $1.30 billion at March 31, 2018, growing 6.6%, compared with the December 31, 2017 balance totaling $1.22 billion.Net interest income for the quarter ended March 31, 2018 totaled $11.7 million, an increase of 14.1% over the quarter ended March 31, 2017, which totaled $10.2 million. Net interest margin, on a taxable-equivalent basis, totaled 3.26%... More
