Orrstown: Q1 Earnings Snapshot
April 20, 2021 GMT
The Shippensburg, Pennsylvania-based company said it had profit of 92 cents per share.
The holding company for Orrstown Bank posted revenue of $31.5 million in the period. Its adjusted revenue was $29.4 million.
Orrstown shares have climbed 30% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $21.47, a climb of 84% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ORRF at https://www.zacks.com/ap/ORRF
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Orrstown Financial Services, Inc. Reports Fourth Quarter and Full Year 2020 Results
Diluted fourth quarter 2020 EPS of $0.91 per share versus $0.45 per share in the third quarter of 2020 due to robust revenue growth combined with expense reductions; full year diluted EPS of $2.40 per share
Tangible book value per share
(1) increased to $19.93 at December 31, 2020 from $18.70 at September 30, 2020 and $17.65 at December 31, 2019, an increase of 12.9% for fiscal year 2020
Small Business Administration Paycheck Protection Program (“SBA PPP”) portfolio averaged $443 million in the three months ended December 31, 2020; $5.8 million of unearned net processing fees at December 31, 2020
Continued efforts to assist clients, employees and communities affected by COVID-19; active participant in new round of SBA PPP lending in January 2021