Core Insights - Orrstown Financial Services, Inc. reported a net income of $21.9 million for Q3 2025, an increase from $19.4 million in Q2 2025 and a recovery from a net loss of $7.9 million in Q3 2024 [1][2] - The diluted earnings per share (EPS) rose to $1.13 in Q3 2025, compared to $1.01 in Q2 2025 and a loss of $0.41 in Q3 2024 [1][2] - The company achieved its strongest quarter of earnings on record, with a return on assets of 1.60% and a return on equity of nearly 16% [2] Financial Performance - Net interest income for Q3 2025 was $51.0 million, up from $49.5 million in Q2 2025, with a net interest margin of 4.11% [8][9] - Noninterest income increased by $0.5 million to $13.4 million in Q3 2025 from $12.9 million in Q2 2025 [16] - Noninterest expenses decreased by $1.3 million to $36.3 million in Q3 2025, with no merger-related expenses incurred during this period [20] Balance Sheet Highlights - Loans held for investment increased by $48.4 million to $4.0 billion as of September 30, 2025, with commercial loans up by approximately 5% [3] - Total deposits remained stable at $4.5 billion, with increases in money market and time deposits [5] - The company redeemed $32.5 million in subordinated notes during Q3 2025, impacting its capital ratios [6][28] Capital and Equity - Shareholders' equity rose to $571.9 million at September 30, 2025, compared to $548.4 million at June 30, 2025 [26] - Tangible book value per common share increased to $24.12 from $22.77 during the same period [27] - The company's capital ratios remained above regulatory minimums, with tier 1 common equity at 11.1% [28][29] Credit Quality - The allowance for credit losses on loans increased slightly to $48.1 million, representing 1.21% of total loans [14] - Classified loans decreased to $64.1 million, with delinquent loans also showing a decline [15] - Nonaccrual loans increased to $26.2 million, reflecting a rise in nonaccrual status for certain commercial and residential loans [15]

Core Insights - Orrstown Bank has announced the promotion of Zachary Khuri to Chief Revenue Officer and Joshua Hocker to Market President for the Central Pennsylvania Region, effective immediately [1][2][3] Group 1: Leadership Changes - Zachary Khuri, previously the Market President for the Central Pennsylvania Region, has over 20 years of banking experience and has been instrumental in expanding the Bank's market share since joining in 2019 [2][3] - Joshua Hocker, who has been appointed as Market President, previously served as Director of Middle Market Lending and has a strong track record in commercial banking [3][4] Group 2: Company Overview - Orrstown Financial Services, Inc. has $5.4 billion in assets and offers a wide range of consumer and business financial services across multiple counties in Pennsylvania and Maryland [4] - The company's lending area extends to counties in Pennsylvania, Maryland, Delaware, Virginia, and West Virginia within a 75-mile radius of its executive offices [4]

(1) Non-GAAP measure. See Appendix A for additional information. HARRISBURG, Pa., April 22, 2025 (GLOBE NEWSWIRE) -- Orrstown Financial Services, Inc. (NASDAQ: ORRF), the parent company of Orrstown Bank (the "Bank"), announced earnings for the three months ended March 31, 2025. Net income totaled $18.1 million for the three months ended March 31, 2025, compared to net income of $13.7 million for the three months ended December 31, 2024 and net income of $8.5 million for the three months ended March 31, 2024 ...