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Orrstown Financial Services Inc

Orrstown Financial Services Inc (ORRF) is a bank holding company that provides a range of financial services to individuals, businesses, and organizations in the United States. The company operates through its subsidiary, Orrstown Bank, which offers various deposit products, including checking accounts, savings accounts, money market deposit accounts, and certificates of deposit. It also provides loans such as residential mortgages, home equity loans, commercial real estate loans, and construction loans, as well as commercial and industrial loans.

As of their most recent earnings report in October 2021, Orrstown Financial Services Inc reported net income of $7.3 million for the quarter ended September 30, 2021, compared to $6.5 million for the same period in 2020. This represents an increase in earnings of approximately 12% year-over-year.

In terms of growth, the company has reported consistent increases in total assets, loans, and deposits over the past several years. As of September 30, 2021, total assets were $3.0 billion, an increase of 21% compared to the same period in 2020. Loans totaled $2.2 billion, an increase of 15% compared to the same period in 2020, and deposits totaled $2.5 billion, an increase of 18% compared to the same period in 2020.

The company has also shown a strong track record of returning value to shareholders through dividends and share buybacks. In May 2021, the company increased its quarterly dividend by 10% to $0.15 per share.

It is important to note that the financial performance of a company can vary over time and is subject to various risks and uncertainties, including economic conditions, changes in interest rates, and competition. It is recommended to conduct thorough research and consult with a financial advisor before making any investment decisions.