Orrstown Financial Services Inc 2025年季度报告

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedMarch31, 2025 or Commission file number:001-34292 ORRSTOWN FINANCIAL SERVICES, INC. (Exact Name of Registrant as Specified in its Charter) Pennsylvania23-2530374(State or Other Jurisdiction of Incorporation or Organization)(I.R.S. Employer Identification No.)4750 Lindle RoadHarrisburgPennsylvania17111(Address of Principal Executive Offices)(Zip Code)Registrant’s Telephone Number, Including Area Code:(717)532-6114 Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has beensubject to such filing requirements for the past 90 days.Yesx No¨ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant wasrequired to submit such files).Yes x No¨ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”and "emerging growth company" in Rule 12b-2 of the Exchange Act. Largeacceleratedfiler¨Non-accelerated filer¨ Accelerated filer☒Smallerreportingcompany☐Emerging growth company☐If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act.).Yes☐No x Number of shares outstanding of the registrant’s Common Stock as of May5, 2025:19,508,545. ORRSTOWN FINANCIAL SERVICES, INC. INDEX Part I – FINANCIAL INFORMATIONGlossaryof Defined TermsItem1.Financial StatementsCondensedConsolidated Balance Sheets (Unaudited)CondensedConsolidated Statements ofIncome(Unaudited)CondensedConsolidated Statements of Comprehensive Income(Unaudited)CondensedConsolidated Statements of Changes in Shareholders’ Equity (Unaudited)CondensedConsolidated Statements of Cash Flows (Unaudited)Notes toCondensedConsolidated Financial Statements (Unaudited)Item2Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem3.Quantitative and Qualitative Disclosures About Market RiskItem4.Controls and ProceduresPART II – OTHER INFORMATIONItem1.Legal ProceedingsItem1A.Risk FactorsItem2.Unregistered Sales of Equity Securities and Use of ProceedsItem3.Defaults upon Senior SecuritiesItem4.Mine Safety DisclosuresItem5.Other InformationItem6.ExhibitsSIGNATURES Glossary of Defined Terms The following terms may be used throughout this Report, including the unaudited condensed consolidated financial statements andrelated notes. PART I – FINANCIAL INFORMATION Condensed Consolidated Statements of Income (Unaudited)ORRSTOWN FINANCIAL SERVICES, INC. Three Months Ended ORRSTOWN FINANCIAL SERVICES, INC. Notes to Condensed Consolidated Financial Statements (Unaudited) (All dollar amounts presented in the tables, except per share amounts, are in thousands) NOTE 1.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES See the Glossary of Defined Terms at the beginning of this Report for terms used throughout the unaudited condensed consolidatedfinancial statements and related notes of this Form 10-Q. Nature of Operations– Orrstown Financial Services, Inc. is a financial holding company that operates Orrstown Bank, a commercialbank providing banking and financial advisory services in Berks, Cumberland, Dauphin, Franklin, Lancaster, Perry and York Counties,Pennsylvania, and in Anne Arundel, Baltimore, Harford, Howard and Washington Counties, Maryland. The Company operates in thecommunity banking segment and engages in lending activities, including commercial, residential, commercial mortgages, construction,municipal, and various forms of consumer lending, and deposit services, including checking, savings, time, and money market deposits. TheCompany’s lending area also includes counties in Pennsylvania, Maryland, Delaware, Virginia and West Virginia within a 75-mile radius ofthe Company's executive and administrative offices as well as the District of Columbia. The Company also provides fiduciary services,investment advisory, insurance and brokerage services. The Company and the Bank are subject to regulation by certain federal and stateagencies and undergo periodic examinations by such regulatory authorities. Basis of Presentation– The accompanying unaudited condensed consolidated financial