Orrstown Financial Services Inc. (ORRF) reported net income of $80.9 million for the fiscal year 2025, a significant increase compared to $22.1 million in 2024 and $35.7 million in 2023. Diluted earnings per share also rose to $4.18, up from $1.48 in 2024 and $3.42 in 2023. Excluding merger-related expenses of $2.6 million, adjusted net income for 2025 would be $82.9 million, or $4.28 per diluted share. The company's performance was bolstered by a merger with Codorus Valley Bancorp, Inc. on July 1, 2024, which expanded its footprint into York, Pennsylvania.
The company's net interest income increased to $199.8 million in 2025, compared to $155.3 million in 2024 and $104.9 million in 2023. This growth was attributed to the deployment of cash into higher-yielding commercial loans and investment securities, as well as the impact of rising interest rates on interest-earning asset yields. The provision for credit losses on loans decreased to $126 thousand in 2025, a substantial drop from $17.4 million in 2024, which included $15.5 million of reserves on acquired non-PCD loans from the Codorus Valley merger. Noninterest income also saw growth, reaching $52.3 million in 2025, up from $37.4 million in 2024 and $25.7 million in 2023, driven by increases in wealth management income, service charges, and interchange income.
Strategic developments for Orrstown Financial Services included the merger with Codorus Valley Bancorp, Inc., valued at $233.4 million. This acquisition expanded the Bank’s footprint into the York, Pennsylvania market while increasing its market penetration in its existing markets. The company also redeemed its $32.5 million outstanding 6.0% fixed-to-floating rate subordinated notes due December 30, 2028.
Key operational developments included a workforce of 627 full-time and 25 part-time employees at the Bank as of December 31, 2025. Approximately 75% of the loan portfolio was comprised of commercial loans, compared to 76% at December 31, 2024. Assets under management by Orrstown Financial Advisors (OFA) totaled $3.1 billion at December 31, 2025, compared to $3.2 billion at December 31, 2024. The Bank operated 38 full-service branches and five limited-purpose branches as of December 31, 2025. The company's common stock is listed on the Nasdaq Capital Market under the trading symbol "ORRF," with 19,619,798 shares outstanding as of March 6, 2026.
About ORRSTOWN FINANCIAL SERVICES INC
Orrstown Financial Services, Inc. is a Pennsylvania-based financial holding company primarily engaged in community banking through its subsidiary Orrstown Bank. The bank offers a range of banking services, including commercial, residential, and consumer lending, deposit products, and investment advisory services. It serves markets in Pennsylvania, Maryland, Delaware, Virginia, and West Virginia, focusing on relationship banking, financial advisory, and community development.
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