2019 Q4 Form 10-Q Financial Statement

#000082615419000185 Filed on November 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $24.84M $16.23M
YoY Change 53.06% 23.88%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $270.0K $187.0K
YoY Change 44.39% -4.59%
% of Gross Profit
Depreciation & Amortization $1.580M $1.600M $850.0K
YoY Change 47.66% 88.24% 1.19%
% of Gross Profit
Operating Expenses $270.0K $187.0K
YoY Change 44.39% -4.59%
Operating Profit
YoY Change
Interest Expense $6.757M $3.522M
YoY Change 91.85% 74.62%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $5.260M $8.241M $4.660M
YoY Change 310.94% 76.85% 47.94%
Income Tax $1.030M $1.340M $644.0K
% Of Pretax Income 19.58% 16.26% 13.82%
Net Earnings $4.230M $6.901M $4.016M
YoY Change 267.83% 71.84% 44.77%
Net Earnings / Revenue 27.79% 24.75%
Basic Earnings Per Share $0.63 $0.50
Diluted Earnings Per Share $381.1K $0.62 $0.49
COMMON SHARES
Basic Shares Outstanding 11.19M shares 10.95M shares 8.099M shares
Diluted Shares Outstanding 11.09M shares 8.271M shares

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $55.96M $50.42M $41.02M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $37.52M $43.03M $35.92M
YoY Change -1.77% 19.79% 1.98%
Goodwill $19.93M $19.93M
YoY Change 58.24%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $12.00M $11.60M $7.700M
YoY Change 39.53% 50.65% -47.26%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $2.383B $2.314B $1.721B
YoY Change 23.21% 34.46% 12.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $34.70M $35.10M $17.10M
YoY Change 52.19% 105.26% 0.59%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $8.269M $36.61M $45.35M
YoY Change -87.09% -19.29% -50.47%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $34.70M $35.10M $17.10M
YoY Change 52.19% 105.26% 0.59%
LONG-TERM LIABILITIES
Long-Term Debt $31.80M $31.80M $0.00
YoY Change -0.31%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $31.80M $31.80M $0.00
YoY Change -0.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $34.70M $35.10M $17.10M
Total Long-Term Liabilities $31.80M $31.80M $0.00
Total Liabilities $2.160B $2.090B $1.575B
YoY Change 22.66% 32.69% 13.39%
SHAREHOLDERS EQUITY
Retained Earnings $35.25M $32.69M $24.53M
YoY Change 44.03% 33.27% 42.08%
Common Stock $584.0K $584.0K $437.0K
YoY Change 18.94% 33.64% 0.46%
Preferred Stock
YoY Change
Treasury Stock (at cost) $466.0K $1.038M $197.0K
YoY Change 97.46% 426.9% 1213.33%
Treasury Stock Shares 20.73K shares 45.51K shares 7.531K shares
Shareholders Equity $223.2M $223.5M $145.6M
YoY Change
Total Liabilities & Shareholders Equity $2.383B $2.314B $1.721B
YoY Change 23.21% 34.46% 12.2%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $4.230M $6.901M $4.016M
YoY Change 267.83% 71.84% 44.77%
Depreciation, Depletion And Amortization $1.580M $1.600M $850.0K
YoY Change 47.66% 88.24% 1.19%
Cash From Operating Activities $5.630M -$2.310M $1.180M
YoY Change -23.51% -295.76% -34.08%
INVESTING ACTIVITIES
Capital Expenditures $320.0K -$1.740M -$2.030M
YoY Change -118.71% -14.29% 133.33%
Acquisitions
YoY Change
Other Investing Activities -$68.86M $26.10M -$64.45M
YoY Change -390.06% -140.5% -16.74%
Cash From Investing Activities -$68.55M $24.37M -$66.47M
YoY Change -411.31% -136.66% -15.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 68.44M -88.00M 83.72M
YoY Change 271.55% -205.11% 37.36%
NET CHANGE
Cash From Operating Activities 5.630M -2.310M 1.180M
Cash From Investing Activities -68.55M 24.37M -66.47M
Cash From Financing Activities 68.44M -88.00M 83.72M
Net Change In Cash 5.520M -65.94M 18.43M
YoY Change -88.45% -457.79% -218.6%
FREE CASH FLOW
Cash From Operating Activities $5.630M -$2.310M $1.180M
Capital Expenditures $320.0K -$1.740M -$2.030M
Free Cash Flow $5.310M -$570.0K $3.210M
YoY Change -41.46% -117.76% 20.68%

Facts In Submission

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CY2018Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
7610000 USD
us-gaap Labor And Related Expense
LaborAndRelatedExpense
28088000 USD
us-gaap Labor And Related Expense
LaborAndRelatedExpense
23487000 USD
CY2019Q3 us-gaap Occupancy Net
OccupancyNet
1133000 USD
CY2018Q3 us-gaap Occupancy Net
OccupancyNet
775000 USD
us-gaap Occupancy Net
OccupancyNet
3200000 USD
us-gaap Occupancy Net
OccupancyNet
2252000 USD
CY2019Q3 us-gaap Equipment Expense
EquipmentExpense
1252000 USD
CY2018Q3 us-gaap Equipment Expense
EquipmentExpense
990000 USD
us-gaap Equipment Expense
EquipmentExpense
3415000 USD
us-gaap Equipment Expense
EquipmentExpense
2977000 USD
CY2019Q3 us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
830000 USD
CY2018Q3 us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
661000 USD
us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
2658000 USD
us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
1875000 USD
CY2019Q3 us-gaap Communication
Communication
198000 USD
CY2018Q3 us-gaap Communication
Communication
181000 USD
us-gaap Communication
Communication
612000 USD
us-gaap Communication
Communication
542000 USD
CY2019Q3 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
270000 USD
CY2018Q3 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
187000 USD
us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
744000 USD
us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
548000 USD
CY2019Q3 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
279000 USD
us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
725000 USD
CY2018Q3 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
279000 USD
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
1348000 USD
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
898000 USD
CY2019Q3 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
-9000 USD
CY2018Q3 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
169000 USD
us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
397000 USD
us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
507000 USD
CY2019Q3 us-gaap Legal Fees
LegalFees
189000 USD
CY2018Q3 us-gaap Legal Fees
LegalFees
215000 USD
us-gaap Legal Fees
LegalFees
362000 USD
us-gaap Legal Fees
LegalFees
364000 USD
CY2019Q3 us-gaap Professional Fees
ProfessionalFees
625000 USD
CY2018Q3 us-gaap Professional Fees
ProfessionalFees
361000 USD
us-gaap Professional Fees
ProfessionalFees
1716000 USD
us-gaap Professional Fees
ProfessionalFees
1140000 USD
CY2019Q3 us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
228000 USD
CY2018Q3 us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
207000 USD
us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
663000 USD
CY2019Q3 orrf Real Estate Owned Expenses
RealEstateOwnedExpenses
22000 USD
CY2018Q3 orrf Real Estate Owned Expenses
RealEstateOwnedExpenses
18000 USD
orrf Real Estate Owned Expenses
RealEstateOwnedExpenses
36000 USD
orrf Real Estate Owned Expenses
RealEstateOwnedExpenses
96000 USD
CY2019Q3 us-gaap Taxes Other
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306000 USD
CY2018Q3 us-gaap Taxes Other
TaxesOther
259000 USD
us-gaap Taxes Other
TaxesOther
926000 USD
us-gaap Taxes Other
TaxesOther
761000 USD
CY2019Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
486000 USD
CY2018Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
24000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1096000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
72000 USD
CY2019Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
471000 USD
CY2018Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
319000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
7976000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
473000 USD
CY2019Q3 orrf Writeoff Of Insurance Receivable
WriteoffOfInsuranceReceivable
0 USD
CY2018Q3 orrf Writeoff Of Insurance Receivable
WriteoffOfInsuranceReceivable
0 USD
orrf Writeoff Of Insurance Receivable
WriteoffOfInsuranceReceivable
615000 USD
orrf Writeoff Of Insurance Receivable
WriteoffOfInsuranceReceivable
0 USD
CY2019Q3 us-gaap Other Noninterest Expense
OtherNoninterestExpense
1392000 USD
CY2018Q3 us-gaap Other Noninterest Expense
OtherNoninterestExpense
1081000 USD
us-gaap Other Noninterest Expense
OtherNoninterestExpense
3743000 USD
us-gaap Other Noninterest Expense
OtherNoninterestExpense
3022000 USD
CY2019Q3 us-gaap Noninterest Expense
NoninterestExpense
18161000 USD
CY2018Q3 us-gaap Noninterest Expense
NoninterestExpense
13336000 USD
us-gaap Noninterest Expense
NoninterestExpense
57657000 USD
us-gaap Noninterest Expense
NoninterestExpense
39677000 USD
CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
8241000 USD
CY2018Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4660000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
14372000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
13163000 USD
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1340000 USD
CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
644000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1682000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1510000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
6901000 USD
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
4016000 USD
us-gaap Net Income Loss
NetIncomeLoss
12690000 USD
us-gaap Net Income Loss
NetIncomeLoss
11653000 USD
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.63
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.50
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.25
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.44
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.62
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.49
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.23
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.41
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
6901000 USD
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
4016000 USD
us-gaap Net Income Loss
NetIncomeLoss
12690000 USD
us-gaap Net Income Loss
NetIncomeLoss
11653000 USD
CY2019Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
1400000 USD
CY2018Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-3488000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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11880000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-9637000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
2328000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
29000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
4731000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
891000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-928000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-3517000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
7149000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-10528000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-195000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-738000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
1502000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-2211000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-733000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2779000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
5647000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-8317000 USD
CY2019Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
6168000 USD
CY2018Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1237000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
18337000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3336000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
145137000 USD
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
4016000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2779000 USD
CY2018Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.13
CY2018Q3 us-gaap Dividends Cash
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1071000 USD
CY2018Q3 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
30321 shares
CY2018Q3 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
15251 shares
CY2018Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
188000 USD
CY2018Q3 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
254000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
145557000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
144765000 USD
us-gaap Net Income Loss
NetIncomeLoss
11653000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-8317000 USD
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.38
us-gaap Dividends Cash
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3166000 USD
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
45302 shares
us-gaap Treasury Stock Shares Acquired
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6714 shares
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1112000 USD
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
622000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
145557000 USD
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
219868000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
6901000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2019Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.15
CY2019Q3 us-gaap Dividends Cash
DividendsCash
1673000 USD
CY2019Q3 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
48694 shares
CY2019Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
45505 shares
CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
475000 USD
CY2019Q3 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
-870000 USD
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
223493000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
173433000 USD
us-gaap Net Income Loss
NetIncomeLoss
12690000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
5647000 USD
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.45
us-gaap Dividends Cash
DividendsCash
4472000 USD
us-gaap Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
1765704 shares
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
36622000 USD
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
15845 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
36474 shares
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1154000 USD
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
-427000 USD
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
223493000 USD
us-gaap Net Income Loss
NetIncomeLoss
12690000 USD
us-gaap Net Income Loss
NetIncomeLoss
11653000 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
1594000 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-1356000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
3970000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2572000 USD
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
900000 USD
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
600000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1154000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1112000 USD
us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
1653000 USD
us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
1687000 USD
us-gaap Increase Decrease In Mortgage Loans Held For Sale
IncreaseDecreaseInMortgageLoansHeldForSale
78242000 USD
us-gaap Increase Decrease In Mortgage Loans Held For Sale
IncreaseDecreaseInMortgageLoansHeldForSale
71008000 USD
us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
75276000 USD
us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
73679000 USD
us-gaap Gain Loss On Sale Of Loans And Leases
GainLossOnSaleOfLoansAndLeases
0 USD
us-gaap Gain Loss On Sale Of Loans And Leases
GainLossOnSaleOfLoansAndLeases
291000 USD
us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
8000 USD
us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
111000 USD
orrf Write Down Of Other Real Estate Owned
WriteDownOfOtherRealEstateOwned
0 USD
orrf Write Down Of Other Real Estate Owned
WriteDownOfOtherRealEstateOwned
24000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-137000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-16000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-1348000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-756000 USD
us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
4731000 USD
us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
891000 USD
us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
1505000 USD
us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
1101000 USD
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
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us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
345000 USD
orrf Increase Decrease In Accrued Interest Payable And Other Liabilities
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orrf Increase Decrease In Accrued Interest Payable And Other Liabilities
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-46000 USD
us-gaap Increase Decrease In Other Operating Capital Net
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us-gaap Increase Decrease In Other Operating Capital Net
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1158000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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3455000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
15130000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
199910000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
113180000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
22934000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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12793000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
166694000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
211014000 USD
us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
29442000 USD
us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
0 USD
us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
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us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
PaymentsForProceedsFromFederalHomeLoanBankStock
-660000 USD
us-gaap Payments For Proceeds From Loans And Leases
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us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
78497000 USD
us-gaap Proceeds From Sale Of Loans Receivable
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0 USD
us-gaap Proceeds From Sale Of Loans Receivable
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3589000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3226000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3078000 USD
us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
724000 USD
us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
1260000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
7000 USD
us-gaap Payments To Acquire Life Insurance Policies
PaymentsToAcquireLifeInsurancePolicies
2280000 USD
us-gaap Payments To Acquire Life Insurance Policies
PaymentsToAcquireLifeInsurancePolicies
900000 USD
us-gaap Proceeds From Life Insurance Policies
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571000 USD
us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
576000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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87505000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Increase Decrease In Deposits
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209655000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
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us-gaap Proceeds From Repayments Of Short Term Debt
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us-gaap Repayments Of Other Short Term Debt
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25000000 USD
us-gaap Repayments Of Other Short Term Debt
RepaymentsOfOtherShortTermDebt
40000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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20000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
91678000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
272000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
59000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
4472000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
3166000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
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1694000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
651000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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113000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
161000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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157504000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-37892000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
11210000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
88815000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29807000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
50923000 USD
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
41017000 USD
us-gaap Interest Paid Net
InterestPaidNet
17573000 USD
us-gaap Interest Paid Net
InterestPaidNet
8991000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
60000 USD
us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
161000 USD
us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
538000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
8115000 USD
CY2018Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
4353000 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
6869000 USD
CY2018Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
28862000 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
87557000 USD
CY2019Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
7566000 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
13355000 USD
CY2019Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
38675000 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
95714000 USD
CY2019Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
471000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
7976000 USD
CY2019Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
477734000 USD
CY2019Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
6600000 USD
CY2019Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
3214000 USD
CY2019Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
481120000 USD
CY2018Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
469607000 USD
CY2018Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
2432000 USD
CY2018Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
6195000 USD
CY2018Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
465844000 USD
CY2019Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
25 security
CY2019Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
236517000 USD
CY2019Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
2374000 USD
CY2019Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
9 security
CY2019Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
65115000 USD
CY2019Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
840000 USD
CY2019Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
34 security
CY2019Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
301632000 USD
CY2019Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
3214000 USD
CY2018Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
46 security
CY2018Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
200164000 USD
CY2018Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
2356000 USD
CY2018Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
18 security
CY2018Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
86361000 USD
CY2018Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
3839000 USD
CY2018Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
64 security
CY2018Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
286525000 USD
CY2018Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
6195000 USD
CY2019Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
230000 USD
CY2019Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
230000 USD
CY2019Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
0 USD
CY2019Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
0 USD
CY2019Q3 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
26456000 USD
CY2019Q3 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
27952000 USD
CY2019Q3 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
50867000 USD
CY2019Q3 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
54530000 USD
CY2019Q3 orrf Available For Sale Securities Mortgage Backed Securities And Collateralized Mortgage Obligations Amortized Cost
AvailableForSaleSecuritiesMortgageBackedSecuritiesAndCollateralizedMortgageObligationsAmortizedCost
158062000 USD
CY2019Q3 orrf Available For Sale Securities Mortgage Backed Securities And Collateralized Mortgage Obligations Fair Value
AvailableForSaleSecuritiesMortgageBackedSecuritiesAndCollateralizedMortgageObligationsFairValue
158768000 USD
CY2019Q3 orrf Available For Sale Securities Assetbacked Debt Securities Amortized Cost
AvailableForSaleSecuritiesAssetbackedDebtSecuritiesAmortizedCost
242119000 USD
CY2019Q3 orrf Available For Sale Securities Assetbacked Debt Securities Fair Value
AvailableForSaleSecuritiesAssetbackedDebtSecuritiesFairValue
239640000 USD
CY2019Q3 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
477734000 USD
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
1237000 USD
CY2018Q3 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
156000 USD
us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
225000 USD
CY2019Q3 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
0 USD
CY2019Q3 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
481120000 USD
CY2019Q3 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
25575000 USD
CY2018Q3 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
25070000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
199910000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
113180000 USD
CY2019Q3 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
2328000 USD
CY2018Q3 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
185000 USD
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
4956000 USD
us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
346000 USD
orrf Number Of Notes Split
NumberOfNotesSplit
2 note
orrf Appraisals Required Period Interval
AppraisalsRequiredPeriodInterval
P18M
CY2019Q3 orrf Minimum Amount On Which Annual Updated Appraisals For Criticized Loans Is Required
MinimumAmountOnWhichAnnualUpdatedAppraisalsForCriticizedLoansIsRequired
250000 USD
orrf Appraisals Required Period Interval
AppraisalsRequiredPeriodInterval
P18M
CY2019Q3 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
1593105000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
1247657000 USD
orrf Number Of Days Of Past Due Assigned As Substandard Rating
NumberOfDaysOfPastDueAssignedAsSubstandardRating
P90D
CY2019Q3 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
1593105000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
1247657000 USD
CY2019Q3 orrf Business Combination Assets Acquired Loans And Leases Receivable Net Of Deferred Income
BusinessCombinationAssetsAcquiredLoansAndLeasesReceivableNetOfDeferredIncome
425940000 USD
CY2018Q4 orrf Business Combination Assets Acquired Loans And Leases Receivable Net Of Deferred Income
BusinessCombinationAssetsAcquiredLoansAndLeasesReceivableNetOfDeferredIncome
135009000 USD
CY2019Q3 orrf Amount Of Loan On Which Review Have Been Made Annually
AmountOfLoanOnWhichReviewHaveBeenMadeAnnually
500000 USD
CY2019Q3 orrf Amount Of Loans Reviewed By Credit Administration
AmountOfLoansReviewedByCreditAdministration
1000000 USD
CY2019Q3 orrf Amount Of Loan On Which Reviews Require Approval
AmountOfLoanOnWhichReviewsRequireApproval
250000 USD
CY2019Q3 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
524000 USD
CY2019Q3 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
546000 USD
CY2019Q3 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
36000 USD
CY2019Q3 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
7449000 USD
CY2019Q3 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
13118000 USD
CY2018Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
743000 USD
CY2018Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
743000 USD
CY2018Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
38000 USD
CY2018Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
5554000 USD
CY2018Q4 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
7832000 USD
CY2019Q3 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
6504000 USD
CY2019Q3 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
12000 USD
CY2018Q3 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
6177000 USD
CY2018Q3 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
16000 USD
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
6190000 USD
us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
43000 USD
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
8798000 USD
us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
47000 USD
CY2019Q3 orrf Financing Receivable Modified Balance End Of Period Number Of Contract
FinancingReceivableModifiedBalanceEndOfPeriodNumberOfContract
21 contract
CY2019Q3 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
3308000 USD
CY2018Q4 orrf Financing Receivable Modified Balance End Of Period Number Of Contract
FinancingReceivableModifiedBalanceEndOfPeriodNumberOfContract
22 contract
CY2018Q4 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
1827000 USD
CY2019Q2 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
14460000 USD
CY2019Q3 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
300000 USD
CY2019Q3 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
123000 USD
CY2019Q3 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
172000 USD
CY2019Q3 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
14809000 USD
CY2018Q2 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
13437000 USD
CY2018Q3 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
200000 USD
CY2018Q3 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
159000 USD
CY2018Q3 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
334000 USD
CY2018Q3 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
13812000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
14014000 USD
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
900000 USD
us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
581000 USD
us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
476000 USD
CY2019Q3 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
14809000 USD
CY2017Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
12796000 USD
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
600000 USD
us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
363000 USD
us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
779000 USD
CY2018Q3 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
13812000 USD
CY2019Q3 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
7973000 USD
CY2019Q3 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
1585132000 USD
CY2019Q3 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
1593105000 USD
CY2019Q3 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
36000 USD
CY2019Q3 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
14773000 USD
CY2019Q3 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
14809000 USD
CY2018Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
6297000 USD
CY2018Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
1241360000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
1247657000 USD
CY2018Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
38000 USD
CY2018Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
13976000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
14014000 USD
CY2019Q2 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYield
4988000 USD
CY2018Q4 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYield
2065000 USD
CY2019Q3 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Additions
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAdditions
0 USD
us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Additions
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAdditions
3497000 USD
CY2019Q3 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldAccretion
422000 USD
us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldAccretion
1814000 USD
CY2019Q3 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Reclassifications From Nonaccretable Difference
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldReclassificationsFromNonaccretableDifference
825000 USD
us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Reclassifications From Nonaccretable Difference
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldReclassificationsFromNonaccretableDifference
1441000 USD
CY2019Q3 orrf Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield Other
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldOther
319000 USD
orrf Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield Other
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldOther
521000 USD
CY2019Q3 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYield
5710000 USD
CY2019Q3 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYield
5710000 USD
CY2018Q4 us-gaap Goodwill
Goodwill
12592000 USD
CY2017Q4 us-gaap Goodwill
Goodwill
719000 USD
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
7029000 USD
CY2018 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
11873000 USD
us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
304000 USD
CY2018 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
0 USD
CY2019Q3 us-gaap Goodwill
Goodwill
19925000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
7654000 USD
CY2018Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
284000 USD
CY2018Q4 us-gaap Goodwill
Goodwill
12592000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
8140000 USD
CY2018Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
308000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3910000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
356000 USD
CY2019Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
486000 USD
CY2018Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
24000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1096000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
72000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
7654000 USD
CY2018Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
284000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
7654000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
9611000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1957000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
4771000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
861000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
474000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1591000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1313000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1137000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
960000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
2179000 USD
CY2019Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
330000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
791000 USD
CY2019Q3 orrf Right Of Use Asset Obtained In Exchange For Operating Lease Liability Including Leases Acquired From Acquisitions
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiabilityIncludingLeasesAcquiredFromAcquisitions
0 USD
orrf Right Of Use Asset Obtained In Exchange For Operating Lease Liability Including Leases Acquired From Acquisitions
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiabilityIncludingLeasesAcquiredFromAcquisitions
10908000 USD
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P17Y7M6D
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P17Y7M6D
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11000 USD
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240000 USD
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221000 USD
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240000 USD
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CONTINGENCIES <div style="text-indent:22.5pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">The nature of the Company’s business generates a certain amount of litigation involving matters arising out of the ordinary course of business. Except as described below, in the opinion of management, there are no legal proceedings that might have a material effect on the results of operations, liquidity, or the financial position of the Company at this time.</span></div><div style="text-indent:22.5pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">On May 25, 2012, SEPTA filed a putative class action complaint in the U.S. District Court for the Middle District of Pennsylvania against the Company, the Bank and certain current and former directors and executive officers (collectively, the “Defendants”). The complaint alleges, among other things, that (i) in connection with the Company’s Registration Statement on Form S-3 dated February 23, 2010 and its Prospectus Supplement dated March 23, 2010, and (ii) during the purported class period of March 24, 2010 through October 27, 2011, the Company issued materially false and misleading statements regarding the Company’s lending practices and financial results, including misleading statements concerning the stringent nature of the Bank’s credit practices and underwriting standards, the quality of its loan portfolio, and the intended use of the proceeds from the Company’s March 2010 public offering of common stock. The complaint asserts claims under Sections 11, 12(a) and 15 of the Securities Act of 1933, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, and seeks class certification, unspecified money damages, interest, costs, fees and equitable or injunctive relief. Under the Private Securities Litigation Reform Act of 1995 (“PSLRA”), motions for appointment of Lead Plaintiff in this case were due by July 24, 2012. SEPTA was the sole movant and the Court appointed SEPTA Lead Plaintiff on August 20, 2012.</span></div><div style="text-indent:22.5pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">Pursuant to the PSLRA and the Court’s September 27, 2012 Order, SEPTA was given until October 26, 2012 to file an amended complaint and the Defendants until December 7, 2012 to file a motion to dismiss the amended complaint. SEPTA’s opposition to the Defendant’s motion to dismiss was originally due January 11, 2013. Under the PSLRA, discovery and all other proceedings in the case were stayed pending the Court’s ruling on the motion to dismiss. The September 27, 2012 Order specified that if the motion to dismiss were denied, the Court would schedule a conference to address discovery and the filing of a motion for class certification. On October 26, 2012, SEPTA filed an unopposed motion for enlargement of time to file its amended complaint in order to permit the parties and new defendants to be named in the amended complaint time to discuss plaintiff’s claims and defendants’ defenses. On October 26, 2012, the Court granted SEPTA’s motion, mooting its September 27, 2012 scheduling Order, and requiring SEPTA to file its amended complaint on or before January 16, 2013 or otherwise advise the Court of circumstances that require a further enlargement of time. On January 14, 2013, the Court granted SEPTA’s second unopposed motion for enlargement of time to file an amended complaint on or before March 22, 2013.</span></div><div style="text-indent:22.5pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">On March 4, 2013, SEPTA filed an amended complaint. The amended complaint expands the list of defendants in the action to include the Company’s independent registered public accounting firm and the underwriters of the Company’s March 2010 public offering of common stock. In addition, among other things, the amended complaint extends the purported 1934 Exchange Act class period from March 15, 2010 through April 5, 2012. Pursuant to the Court’s March 28, 2013 Second </span></div><div style="margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">Scheduling Order, on May 28, 2013, all defendants filed their motions to dismiss the amended complaint, and on July 22, 2013, SEPTA filed its “omnibus” opposition to all of the defendants’ motions to dismiss. On August 23, 2013, all defendants filed reply briefs in further support of their motions to dismiss. On December 5, 2013, the Court ordered oral argument on the Orrstown Defendants’ motion to dismiss the amended complaint to be heard on February 7, 2014. Oral argument on the pending motions to dismiss SEPTA’s amended complaint was held on April 29, 2014.</span></div><div style="text-indent:22.5pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">The Second Scheduling Order stayed all discovery in the case pending the outcome of the motions to dismiss, and informed the parties that, if required, a telephonic conference to address discovery and the filing of SEPTA’s motion for class certification would be scheduled after the Court’s ruling on the motions to dismiss.</span></div><div style="text-indent:22.5pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">On April 10, 2015, pursuant to Court order, all parties filed supplemental briefs addressing the impact of the U.S. Supreme Court’s March 24, 2015 decision in Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund on defendants’ motions to dismiss the amended complaint.</span></div><div style="text-indent:22.5pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">On June 22, 2015, in a 96-page Memorandum, the Court dismissed without prejudice SEPTA’s amended complaint against all defendants, finding that SEPTA failed to state a claim under either the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. The Court ordered that, within 30 days, SEPTA either seek leave to amend its amended complaint, accompanied by the proposed amendment, or file a notice of its intention to stand on the amended complaint.</span></div><div style="text-indent:22.5pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">On July 22, 2015, SEPTA filed a motion for leave to amend under Local Rule 15.1, and attached a copy of its proposed second amended complaint to its motion. Many of the allegations of the proposed second amended complaint are essentially the same or similar to the allegations of the dismissed amended complaint. The proposed second amended complaint also alleges that the Orrstown Defendants did not publicly disclose certain alleged failures of internal controls over loan underwriting, risk management, and financial reporting during the period 2009 to 2012, in violation of the federal securities laws. On February 8, 2016, the Court granted SEPTA’s motion for leave to amend and SEPTA filed its second amended complaint that same day.</span></div><div style="text-indent:22.5pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;"> On February 25, 2016, the Court issued a scheduling Order directing: all defendants to file any motions to dismiss by March 18, 2016; SEPTA to file an omnibus opposition to defendants’ motions to dismiss by April 8, 2016; and all defendants to file reply briefs in support of their motions to dismiss by April 22, 2016. Defendants timely filed their motions to dismiss the second amended complaint and the parties filed their briefs in accordance with the Court-ordered schedule, above. The February 25, 2016 Order stays all discovery and other deadlines in the case (including the filing of SEPTA’s motion for class certification) pending the outcome of the motions to dismiss.</span></div><div style="text-indent:22.5pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">The allegations of SEPTA’s second amended complaint disclosed the existence of a confidential, non-public, fact-finding inquiry regarding the Company being conducted by the SEC. As disclosed in the Company’s Form 8-K filed on September 27, 2016, on that date the Company entered into a settlement agreement with the SEC resolving the investigation of accounting and related matters at the Company for the periods ended June 30, 2010, to December 31, 2011. As part of the settlement of the SEC’s administrative proceedings and pursuant to the cease-and-desist order, without admitting or denying the SEC’s findings, the Company, its Chief Executive Officer, its former Chief Financial Officer, its former Executive Vice President and Chief Credit Officer, and its Chief Accounting Officer, agreed to pay civil money penalties to the SEC. The Company agreed to pay a civil money penalty of $1,000,000. The Company had previously established a reserve for that amount which was expensed in the second fiscal quarter of 2016. In the settlement agreement with the SEC, the Company also agreed to cease and desist from committing or causing any violations and any future violations of Securities Act Sections 17(a)(2) and 17(a)(3) and Exchange Act Sections 13(a), 13(b)(2)(A) and 13(b)(2)(B), and Rules 12b-20, 13a-1 and 13a-13 promulgated thereunder.</span></div><div style="text-indent:22.5pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">On September 27, 2016, the Orrstown Defendants filed with the Court a Notice of Subsequent Event in Further Support of their Motion to Dismiss the Second Amended Complaint, regarding the settlement with the SEC. The Notice attached a copy of the SEC’s cease-and-desist order and briefly described what the Company believed were the most salient terms of the neither-admit-nor-deny settlement. On September 29, 2016, SEPTA filed a Response to the Notice, in which SEPTA argued that the settlement with the SEC did not support dismissal of the second amended complaint.</span></div><div style="text-indent:22.5pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">On December 7, 2016, the Court issued an Order and Memorandum granting in part and denying in part defendants’ motions to dismiss SEPTA’s second amended complaint. The Court granted the motions to dismiss the Securities Act claims against all defendants, and granted the motions to dismiss the Exchange Act Section 10(b) and Rule 10b-5 claims against all defendants except Orrstown Financial Services, Inc., Orrstown Bank, Thomas R. Quinn, Jr., Bradley S. Everly, and Jeffrey W. Embly. The Court also denied the motions to dismiss the Exchange Act Section 20(a) claims against Quinn, Everly, and Embly.</span></div><div style="text-indent:22.5pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">On January 31, 2017, the Court entered a Case Management Order establishing the schedule for the litigation and, on August 15, 2017, it entered a revised Order that, among other things, set the following deadlines: all fact discovery closes on March 1, 2018, and SEPTA’s motion for class certification is due the same day; expert merits discovery closes May 30, 2018; </span></div><div style="margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">summary judgment motions are due by June 26, 2018; the mandatory pretrial and settlement conference is set for December 11, 2018; and trial is scheduled to begin on January 7, 2019.</span></div><div style="text-indent:22.5pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">On December 15, 2017, the Orrstown Defendants and SEPTA exchanged expert reports in opposition to and in support of class certification, respectively. On January 15, 2018, the parties exchanged expert rebuttal reports. SEPTA’s motion for class certification was due March 1, 2018, with the Orrstown Defendants’ opposition due April 2, 2018, and SEPTA’s reply due April 23, 2018.</span></div><div style="text-indent:22.5pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">On February 9, 2018, SEPTA filed a Status Report and Request for a Telephonic Status Conference asking the Court to convene a conference to discuss the status of discovery in the case and possible revisions to the case schedule. On February 12, 2018, the Orrstown Defendants filed their status report to provide the Court with a summary of document discovery in the case to date. On February 27, 2018, SEPTA filed an unopposed motion for a continuance of the existing case deadlines pending a status conference with the Court or the issuance of a revised case schedule. On February 28, 2018, the Court issued an Order continuing all case management deadlines until further order of the Court.</span></div><div style="text-indent:22.5pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">On March 27, 2018, the Court held a telephonic status conference with the parties to discuss outstanding discovery issues and case deadlines. On May 2, 2018, the parties filed a joint status report. On May 10, 2018, the Court held a follow-up telephonic status conference at which the parties reported on the progress of discovery to date. Party and non-party document discovery in the case has continued. To date, SEPTA has taken a few non-party depositions.</span></div><div style="text-indent:22.5pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">On August 9, 2018, SEPTA filed a motion to compel the production of Confidential Supervisory Information (CSI) of non-parties the Board of Governors of the Federal Reserve System (FRB) and the Pennsylvania Department of Banking and Securities, in the possession of Orrstown and third parties. On August 23, 2018, the Orrstown Defendants filed a response to the motion to compel. On August 30, 2018, the FRB filed an unopposed motion to intervene in the Action for the purpose of opposing SEPTA’s motion to compel, and on September 27, 2018, the FRB filed its brief in opposition to SEPTA’s motion. On October 11, 2018, SEPTA filed its reply brief in support of its motion to compel. On February 12, 2019, the Court denied SEPTA’s motion to compel the production of CSI on the ground that SEPTA had failed to exhaust its administrative remedies.</span></div><div style="text-indent:22.5pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">On April 11, 2019, SEPTA filed a motion for leave to file a third amended complaint. The proposed third amended complaint seeks to reassert the Securities Act claims that the Court dismissed as to all defendants on December 7, 2016, when the Court granted in part and denied in part defendants’ motions to dismiss SEPTA’s second amended complaint. The proposed third amended complaint also seeks to reassert the Exchange Act claims against those defendants that the Court dismissed from the case on December 7, 2016. Defendants’ briefs in opposition to SEPTA’s motion for leave to file a third amended complaint were filed on April 25, 2019. SEPTA filed a reply brief in further support of its motion for leave to file a third amended complaint on May 9, 2019. That motion is pending.</span></div><div style="text-indent:22.5pt;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">On June 13, 2019, Orrstown filed a motion for protective order to stay discovery pending resolution of SEPTA’s motion for leave to file a third amended complaint. On June 19, 2019, former defendants Smith Elliott Kearns &amp; Company, LLC and the underwriters joined in Orrstown’s motion for protective order. On June 25, 2019, SEPTA filed its opposition to Orrstown’s motion. On July 9, 2019, Orrstown filed a reply brief in further support of its motion. On July 17, 2019, the Court entered an Order partially granting Orrstown’s motion for protective order, ruling that all deposition discovery in the case is stayed pending a decision on SEPTA’s motion for leave to file a third amended complaint.</span></div>The Company believes that the allegations of SEPTA’s second amended complaint, and the allegations of the proposed third amended complaint, are without merit and intends to defend itself vigorously against those claims. It is not possible at this time to estimate reasonably possible losses, or even a range of reasonably possible losses, in connection with the litigation.
CY2019Q3 orrf Number Of Legal Proceedings That Have Material Effect
NumberOfLegalProceedingsThatHaveMaterialEffect
0 claim
CY2015Q2 orrf Loss Contingency Claims Dismissed Period To File An Amendment
LossContingencyClaimsDismissedPeriodToFileAnAmendment
P30D
CY2016Q2 us-gaap Loss Contingency Loss In Period
LossContingencyLossInPeriod
1000000 USD
us-gaap Interest Expense
InterestExpense
9084000 USD
us-gaap Interest Expense
InterestExpense
17548000 USD

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