2013 Q4 Form 10-Q Financial Statement

#000119312513435235 Filed on November 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $8.982M $10.73M
YoY Change -16.3%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $282.0K
YoY Change
% of Gross Profit
Depreciation & Amortization $740.0K $720.0K $670.0K
YoY Change 13.85% 7.46% 0.0%
% of Gross Profit
Operating Expenses $282.0K
YoY Change
Operating Profit
YoY Change
Interest Expense $1.216M $1.702M
YoY Change -28.55%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $2.940M $1.828M -$2.324M
YoY Change 44.12% -178.66% -176.2%
Income Tax $20.00K -$281.0K $19.03M
% Of Pretax Income 0.68% -15.37%
Net Earnings $2.930M $2.109M -$21.35M
YoY Change 184.47% -109.88% -595.41%
Net Earnings / Revenue 23.48% -198.97%
Basic Earnings Per Share $0.26 -$2.65
Diluted Earnings Per Share $361.3K $0.26 -$2.65
COMMON SHARES
Basic Shares Outstanding 8.106M shares 8.091M shares 8.065M shares
Diluted Shares Outstanding 8.091M shares 8.065M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
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 $26.44M $26.38M $26.90M
YoY Change -1.27% -1.95% -0.74%
Goodwill
YoY Change
Intangibles $622.0K $674.0K
YoY Change -25.24%
Long-Term Investments
YoY Change
Other Assets $2.600M $2.000M
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.178B $1.212B $1.269B
YoY Change -4.45% -4.48% -16.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.90M $46.20M $11.70M
YoY Change -14.84% 294.87% 21.88%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $59.03M $25.32M $12.10M
YoY Change 511.73% 109.26% -56.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.90M $46.20M $11.70M
YoY Change -14.84% 294.87% 21.88%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $16.40M $37.80M
YoY Change -100.0% -56.61% 10.85%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $16.40M $37.80M
YoY Change -100.0% -56.61% 10.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.90M $46.20M $11.70M
Total Long-Term Liabilities $0.00 $16.40M $37.80M
Total Liabilities $1.086B $1.123B $1.182B
YoY Change -5.12% -5.01% -12.97%
SHAREHOLDERS EQUITY
Retained Earnings -$27.26M -$30.18M
YoY Change -26.85%
Common Stock $422.0K $422.0K
YoY Change 0.24%
Preferred Stock
YoY Change
Treasury Stock (at cost) $20.00K $20.00K
YoY Change 0.0%
Treasury Stock Shares 811.0 shares 811.0 shares
Shareholders Equity $91.44M $89.64M $87.32M
YoY Change
Total Liabilities & Shareholders Equity $1.178B $1.212B $1.269B
YoY Change -4.45% -4.48% -16.34%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $2.930M $2.109M -$21.35M
YoY Change 184.47% -109.88% -595.41%
Depreciation, Depletion And Amortization $740.0K $720.0K $670.0K
YoY Change 13.85% 7.46% 0.0%
Cash From Operating Activities $16.65M $1.650M $700.0K
YoY Change 112.64% 135.71% -90.8%
INVESTING ACTIVITIES
Capital Expenditures -$650.0K -$610.0K -$470.0K
YoY Change 85.71% 29.79% 56.67%
Acquisitions
YoY Change
Other Investing Activities -$47.63M -$3.000M $17.89M
YoY Change -161.6% -116.77% 37.72%
Cash From Investing Activities -$48.28M -$3.610M $17.43M
YoY Change -162.73% -120.71% 37.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.190M -12.00M -39.66M
YoY Change -96.88% -69.74% 91.04%
NET CHANGE
Cash From Operating Activities 16.65M 1.650M 700.0K
Cash From Investing Activities -48.28M -3.610M 17.43M
Cash From Financing Activities -1.190M -12.00M -39.66M
Net Change In Cash -32.82M -13.96M -21.53M
YoY Change -170.29% -35.16% 4580.43%
FREE CASH FLOW
Cash From Operating Activities $16.65M $1.650M $700.0K
Capital Expenditures -$650.0K -$610.0K -$470.0K
Free Cash Flow $17.30M $2.260M $1.170M
YoY Change 111.49% 93.16% -85.21%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2013Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000 shares
CY2013Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2013Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
811 shares
CY2013Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.05205
CY2013Q3 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions1
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions1
73 Security
CY2013Q3 us-gaap Common Stock No Par Value
CommonStockNoParValue
CY2013Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
8106444 shares
CY2012Q2 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
36235000
CY2012Q3 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
36700000
CY2012Q3 us-gaap Stockholders Equity
StockholdersEquity
87320000
CY2012Q3 us-gaap Cash Cash Equivalents And Federal Funds Sold
CashCashEquivalentsAndFederalFundsSold
107604000
CY2013Q2 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
20098000
CY2013Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
8106444 shares
CY2013Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8107255 shares
CY2013Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2013Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1.25
CY2013Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2013Q3 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2013Q3 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
579000
CY2013Q3 us-gaap Noninterest Bearing Deposit Liabilities Domestic
NoninterestBearingDepositLiabilitiesDomestic
118181000
CY2013Q3 us-gaap Interest Bearing Deposit Liabilities Domestic
InterestBearingDepositLiabilitiesDomestic
916752000
CY2013Q3 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
2201000
CY2013Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
25320000
CY2013Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
123100000
CY2013Q3 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
46156000
CY2013Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
18915000
CY2013Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-3682000
CY2013Q3 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
21252000
CY2013Q3 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
678000
CY2013Q3 us-gaap Stockholders Equity
StockholdersEquity
89638000
CY2013Q3 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
1107000
CY2013Q3 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
678000
CY2013Q3 us-gaap Deposits
Deposits
1034933000
CY2013Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-30182000
CY2013Q3 us-gaap Common Stock Value
CommonStockValue
422000
CY2013Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1212478000
CY2013Q3 us-gaap Long Term Debt
LongTermDebt
16431000
CY2013Q3 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
20574000
CY2013Q3 us-gaap Liabilities
Liabilities
1122840000
CY2013Q3 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
0
CY2013Q3 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
191000
CY2013Q3 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
16813000
CY2013Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
54089000
CY2013Q3 us-gaap Cash And Due From Banks
CashAndDueFromBanks
17502000
CY2013Q3 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue
185660000
CY2013Q3 us-gaap Available For Sale Securities Debt Maturities Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAmortizedCost
390137000
CY2013Q3 us-gaap Available For Sale Securities Pledged As Collateral
AvailableForSaleSecuritiesPledgedAsCollateral
280309000
CY2013Q3 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
390187000
CY2013Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
189000
CY2013Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
54013000
CY2013Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
674000
CY2013Q3 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
664038000
CY2013Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
9156000
CY2013Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
480000
CY2013Q3 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
697000
CY2013Q3 us-gaap Restricted Investments
RestrictedInvestments
8037000
CY2013Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
23099000
CY2013Q3 us-gaap Deferred Tax Assets Tax Credit Carryforwards Alternative Minimum Tax
DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax
60000
CY2013Q3 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateAmortizedCost
185385000
CY2013Q3 us-gaap Assets
Assets
1212478000
CY2013Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
769000
CY2013Q3 us-gaap Deferred Tax Assets Charitable Contribution Carryforwards
DeferredTaxAssetsCharitableContributionCarryforwards
232000
CY2013Q3 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
1983000
CY2013Q3 us-gaap Financing Receivable Recorded Investment30 To59 Days Past Due
FinancingReceivableRecordedInvestment30To59DaysPastDue
3368000
CY2013Q3 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
4077000
CY2013Q3 us-gaap Loans Receivable Held For Sale Net
LoansReceivableHeldForSaleNet
1648000
CY2013Q3 us-gaap Financing Receivable Recorded Investment60 To89 Days Past Due
FinancingReceivableRecordedInvestment60To89DaysPastDue
689000
CY2013Q3 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
20000
CY2013Q3 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
80725000
CY2013Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
380000
CY2013Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
4184000
CY2013Q3 us-gaap Interest Receivable
InterestReceivable
3380000
CY2013Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
199109000
CY2013Q3 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
21405000
CY2013Q3 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
22102000
CY2013Q3 us-gaap Cash Cash Equivalents And Federal Funds Sold
CashCashEquivalentsAndFederalFundsSold
70376000
CY2013Q3 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
662752000
CY2013Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
380000
CY2013Q3 us-gaap Available For Sale Securities
AvailableForSaleSecurities
384522000
CY2013Q3 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
83836000
CY2013Q3 us-gaap Deferred Tax Assets Unrealized Losses On Availablefor Sale Securities Gross
DeferredTaxAssetsUnrealizedLossesOnAvailableforSaleSecuritiesGross
1983000
CY2013Q3 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
24713000
CY2013Q3 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
1165000
CY2013Q3 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
23714000
CY2013Q3 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
52874000
CY2013Q3 us-gaap Other Assets
OtherAssets
29441000
CY2013Q3 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
661540000
CY2013Q3 us-gaap Available For Sale Securities Equity Securities
AvailableForSaleSecuritiesEquitySecurities
69000
CY2013Q3 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
683642000
CY2013Q3 us-gaap Bank Owned Life Insurance
BankOwnedLifeInsurance
25635000
CY2013Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
384453000
CY2013Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Provision For Loan Losses
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLoanLosses
7762000
CY2013Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
199878000
CY2013Q3 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
179000
CY2013Q3 us-gaap Treasury Stock Value
TreasuryStockValue
20000
CY2013Q3 us-gaap Available For Sale Equity Securities Amortized Cost Basis
AvailableForSaleEquitySecuritiesAmortizedCostBasis
50000
CY2013Q3 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
965000
CY2013Q3 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
25534000
CY2013Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
26375000
CY2013Q3 orrf Loans To Borrowers Resulted From Splitting Impaired Loans Onto Multiple Notes
LoansToBorrowersResultedFromSplittingImpairedLoansOntoMultipleNotes
0
CY2013Q3 orrf Deferred Tax Assets Nonaccrual Loan Interest
DeferredTaxAssetsNonaccrualLoanInterest
263000
CY2013Q3 orrf Held To Maturity Or Trading Securities
HeldToMaturityOrTradingSecurities
0
CY2013Q3 orrf Deferred Tax Assets Low Income Housing Credit Carry Forward
DeferredTaxAssetsLowIncomeHousingCreditCarryForward
832000
CY2013Q3 orrf Concentration Risk Credit Risk Financial Instrument Maximum Exposure Liability
ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposureLiability
513000
CY2013Q3 orrf Deferred Tax Assets Retirement Plans And Salary Continuation
DeferredTaxAssetsRetirementPlansAndSalaryContinuation
1558000
CY2013Q3 orrf Minimum Amount Of Loan Rated As Substandard
MinimumAmountOfLoanRatedAsSubstandard
250000
CY2013Q3 orrf Minimum Amount On Which Annual Updated Appraisals For Criticized Loans Is Required
MinimumAmountOnWhichAnnualUpdatedAppraisalsForCriticizedLoansIsRequired
250000
CY2013Q3 orrf Number Of Legal Proceedings That Have Material Effect
NumberOfLegalProceedingsThatHaveMaterialEffect
0 Claim
CY2013Q3 orrf Deferred Tax Assets Off Balance Sheet Reserves
DeferredTaxAssetsOffBalanceSheetReserves
214000
CY2013Q3 orrf Balance Of Loans Serviced For Others
BalanceOfLoansServicedForOthers
324613000
CY2013Q3 orrf Minimum Amount Of Loan On Which Review Have Been Made Annually
MinimumAmountOfLoanOnWhichReviewHaveBeenMadeAnnually
1000000
CY2013Q3 orrf Debt Securities Other Than Temporarily Impaired
DebtSecuritiesOtherThanTemporarilyImpaired
0
CY2013Q3 orrf Available For Sale Securities Debt Maturities Commercial Mortgage Backed Securities Fair Value
AvailableForSaleSecuritiesDebtMaturitiesCommercialMortgageBackedSecuritiesFairValue
38886000
CY2013Q3 orrf Available For Sale Securities Debt Maturities Commercial Mortgage Backed Securities Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesCommercialMortgageBackedSecuritiesAmortizedCost
40989000
CY2013Q3 orrf Deferred Tax Liabilities Unrealized Gains On Available For Sale Securities Gross
DeferredTaxLiabilitiesUnrealizedGainsOnAvailableForSaleSecuritiesGross
0
CY2013Q3 orrf Deferred Tax Liabilities Purchase Accounting Adjustments
DeferredTaxLiabilitiesPurchaseAccountingAdjustments
515000
CY2013Q3 orrf Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses Accumulated In Investments
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAggregateLossesAccumulatedInInvestments
1000
CY2013Q3 orrf Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses Accumulated In Investments
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAggregateLossesAccumulatedInInvestments
7331000
CY2013Q3 orrf Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses Accumulated In Investments
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAggregateLossesAccumulatedInInvestments
7332000
CY2013Q3 orrf Available For Sale Securities Gross Unrealized Loss Accumulated In Investments
AvailableForSaleSecuritiesGrossUnrealizedLossAccumulatedInInvestments
7332000
CY2013Q3 orrf Available For Sale Securities Gross Unrealized Gain Accumulated In Investments
AvailableForSaleSecuritiesGrossUnrealizedGainAccumulatedInInvestments
1667000
CY2013Q3 orrf Impaired Financing Receivables Allocated Allowance
ImpairedFinancingReceivablesAllocatedAllowance
2562000
CY2011Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
43715000
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
128197000
CY2011Q4 us-gaap Cash Cash Equivalents And Federal Funds Sold
CashCashEquivalentsAndFederalFundsSold
109669000
CY2012Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
8079599 shares
CY2012Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8080411 shares
CY2012Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2012Q4 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions1
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions1
27 Security
CY2012Q4 us-gaap Common Stock No Par Value
CommonStockNoParValue
CY2012Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000 shares
CY2012Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2012Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
812 shares
CY2012Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.05205
CY2012Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1.25
CY2012Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2012Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2012Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
337000
CY2012Q4 us-gaap Noninterest Bearing Deposit Liabilities Domestic
NoninterestBearingDepositLiabilitiesDomestic
121090000
CY2012Q4 us-gaap Interest Bearing Deposit Liabilities Domestic
InterestBearingDepositLiabilitiesDomestic
963949000
CY2012Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
3128000
CY2012Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
9650000
CY2012Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
122724000
CY2012Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
12815000
CY2012Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
20235000
CY2012Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
1828000
CY2012Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
23166000
CY2012Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
1312000
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
87694000
CY2012Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
1232000
CY2012Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
1312000
CY2012Q4 us-gaap Deposits
Deposits
1085039000
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-37259000
CY2012Q4 us-gaap Common Stock Value
CommonStockValue
421000
CY2012Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1232668000
CY2012Q4 us-gaap Long Term Debt
LongTermDebt
37470000
CY2012Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
21854000
CY2012Q4 us-gaap Liabilities
Liabilities
1144974000
CY2012Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
0
CY2012Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
214000
CY2012Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
17943000
CY2012Q4 us-gaap Cash And Due From Banks
CashAndDueFromBanks
16933000
CY2012Q4 us-gaap Available For Sale Securities Pledged As Collateral
AvailableForSaleSecuritiesPledgedAsCollateral
258024000
CY2012Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
299158000
CY2012Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
184000
CY2012Q4 us-gaap Assets
Assets
1232668000
CY2012Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
2657000
CY2012Q4 us-gaap Deferred Tax Assets Charitable Contribution Carryforwards
DeferredTaxAssetsCharitableContributionCarryforwards
391000
CY2012Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
832000
CY2012Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
688435000
CY2012Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
8466000
CY2012Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
477000
CY2012Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
3545000
CY2012Q4 us-gaap Restricted Investments
RestrictedInvestments
9804000
CY2012Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
22379000
CY2012Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Alternative Minimum Tax
DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax
0
CY2012Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
-984000
CY2012Q4 us-gaap Financing Receivable Recorded Investment30 To59 Days Past Due
FinancingReceivableRecordedInvestment30To59DaysPastDue
2905000
CY2012Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
3578000
CY2012Q4 us-gaap Loans Receivable Held For Sale Net
LoansReceivableHeldForSaleNet
7862000
CY2012Q4 us-gaap Financing Receivable Recorded Investment60 To89 Days Past Due
FinancingReceivableRecordedInvestment60To89DaysPastDue
673000
CY2012Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
0
CY2012Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
2144000
CY2012Q4 us-gaap Interest Receivable
InterestReceivable
3188000
CY2012Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
86233000
CY2012Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
17489000
CY2012Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
21034000
CY2012Q4 us-gaap Cash Cash Equivalents And Federal Funds Sold
CashCashEquivalentsAndFederalFundsSold
150688000
CY2012Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
682218000
CY2012Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
301970000
CY2012Q4 us-gaap Deferred Tax Assets Unrealized Losses On Availablefor Sale Securities Gross
DeferredTaxAssetsUnrealizedLossesOnAvailableforSaleSecuritiesGross
0
CY2012Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
3588000
CY2012Q4 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
27536000
CY2012Q4 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
133755000
CY2012Q4 us-gaap Other Assets
OtherAssets
25939000
CY2012Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
682705000
CY2012Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
703739000
CY2012Q4 us-gaap Bank Owned Life Insurance
BankOwnedLifeInsurance
25030000
CY2012Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Provision For Loan Losses
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLoanLosses
9672000
CY2012Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
88890000
CY2012Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
237000
CY2012Q4 us-gaap Treasury Stock Value
TreasuryStockValue
20000
CY2012Q4 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
1876000
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
26782000
CY2012Q4 orrf Deferred Tax Assets Nonaccrual Loan Interest
DeferredTaxAssetsNonaccrualLoanInterest
228000
CY2012Q4 orrf Held To Maturity Or Trading Securities
HeldToMaturityOrTradingSecurities
0
CY2012Q4 orrf Deferred Tax Assets Low Income Housing Credit Carry Forward
DeferredTaxAssetsLowIncomeHousingCreditCarryForward
806000
CY2012Q4 orrf Concentration Risk Credit Risk Financial Instrument Maximum Exposure Liability
ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposureLiability
583000
CY2012Q4 orrf Deferred Tax Assets Retirement Plans And Salary Continuation
DeferredTaxAssetsRetirementPlansAndSalaryContinuation
1473000
CY2012Q4 orrf Deferred Tax Assets Off Balance Sheet Reserves
DeferredTaxAssetsOffBalanceSheetReserves
231000
CY2012Q4 orrf Balance Of Loans Serviced For Others
BalanceOfLoansServicedForOthers
329360000
CY2012Q4 orrf Debt Securities Other Than Temporarily Impaired
DebtSecuritiesOtherThanTemporarilyImpaired
0
CY2012Q4 orrf Deferred Tax Liabilities Unrealized Gains On Available For Sale Securities Gross
DeferredTaxLiabilitiesUnrealizedGainsOnAvailableForSaleSecuritiesGross
984000
CY2012Q4 orrf Deferred Tax Liabilities Purchase Accounting Adjustments
DeferredTaxLiabilitiesPurchaseAccountingAdjustments
575000
CY2012Q4 orrf Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses Accumulated In Investments
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAggregateLossesAccumulatedInInvestments
21000
CY2012Q4 orrf Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses Accumulated In Investments
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAggregateLossesAccumulatedInInvestments
376000
CY2012Q4 orrf Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses Accumulated In Investments
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAggregateLossesAccumulatedInInvestments
397000
CY2012Q4 orrf Available For Sale Securities Gross Unrealized Loss Accumulated In Investments
AvailableForSaleSecuritiesGrossUnrealizedLossAccumulatedInInvestments
397000
CY2012Q4 orrf Available For Sale Securities Gross Unrealized Gain Accumulated In Investments
AvailableForSaleSecuritiesGrossUnrealizedGainAccumulatedInInvestments
3209000
CY2012Q4 orrf Impaired Financing Receivables Allocated Allowance
ImpairedFinancingReceivablesAllocatedAllowance
10843000
dei Trading Symbol
TradingSymbol
ORRF
dei Entity Registrant Name
EntityRegistrantName
ORRSTOWN FINANCIAL SERVICES INC
dei Amendment Flag
AmendmentFlag
false
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
dei Entity Central Index Key
EntityCentralIndexKey
0000826154
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 Segment
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<div> <p style="MARGIN-TOP: 18pt; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> <b>NOTE 9. CONTINGENCIES</b></p> <!-- xbrl,body --> <p style="MARGIN-TOP: 6pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> The nature of the Company&#x2019;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.</p> <p style="MARGIN-TOP: 12pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> On May&#xA0;25, 2012, Southeastern Pennsylvania Transportation Authority (&#x201C;SEPTA&#x201D;) filed a putative class action complaint in the United States District Court for the Middle District of Pennsylvania against the Company, the Bank and certain current and former directors and executive officers (collectively, the &#x201C;Defendants&#x201D;). The complaint alleges, among other things, that (i)&#xA0;in connection with the Company&#x2019;s Registration Statement on Form S-3 dated February&#xA0;23, 2010 and its Prospectus Supplement dated March&#xA0;23, 2010, and (ii)&#xA0;during the purported class period of March&#xA0;24, 2010 through October&#xA0;27, 2011, the Company issued materially false and misleading statements regarding the Company&#x2019;s lending practices and financial results, including misleading statements concerning the stringent nature of the Bank&#x2019;s credit practices and underwriting standards, the quality of its loan portfolio, and the intended use of the proceeds from the Company&#x2019;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 (&#x201C;PSLRA&#x201D;), motions for appointment of Lead Plaintiff in this case were due by July&#xA0;24, 2012. SEPTA was the sole movant and the Court appointed SEPTA Lead Plaintiff on August&#xA0;20, 2012.</p> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px; FONT-SIZE: 1px"> &#xA0;</p> <p style="MARGIN-TOP: 0pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> Pursuant to the PSLRA and the Court&#x2019;s September&#xA0;27, 2012 Order, SEPTA was given until October&#xA0;26, 2012 to file an amended complaint and the Defendants until December&#xA0;7, 2012 to file a motion to dismiss the amended complaint. SEPTA&#x2019;s opposition to the Defendant&#x2019;s motion to dismiss was originally due January&#xA0;11, 2013. Under the PSLRA, discovery and all other proceedings in the case are stayed pending the Court&#x2019;s ruling on the motion to dismiss. The September&#xA0;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&#xA0;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&#x2019;s claims and defendants&#x2019; defenses. On October&#xA0;26, 2012, the Court granted SEPTA&#x2019;s motion, mooting its September&#xA0;27, 2012 scheduling Order, and requiring SEPTA to file its amended complaint on or before January&#xA0;16, 2013 or otherwise advise the Court of circumstances that require a further enlargement of time. On January&#xA0;14, 2013, the Court granted SEPTA&#x2019;s second unopposed motion for enlargement of time to file an amended complaint on or before March&#xA0;22, 2013.</p> <p style="MARGIN-TOP: 12pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> On March&#xA0;4, 2013, SEPTA filed an amended complaint. The amended complaint expands the list of defendants in the action to include the Company&#x2019;s independent registered public accounting firm and the underwriters of the Company&#x2019;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&#xA0;15, 2010 through April&#xA0;5, 2012.</p> <p style="MARGIN-TOP: 12pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> Pursuant to the Court&#x2019;s March&#xA0;28, 2013 Second Scheduling Order, on May&#xA0;28, 2013 all defendants filed their motions to dismiss the amended complaint, and on July&#xA0;22, 2013 SEPTA filed its &#x201C;omnibus&#x201D; opposition to all of the defendants&#x2019; motions to dismiss. On August&#xA0;23, 2013, all defendants filed reply briefs in further support of their motions to dismiss. The Second Scheduling Order stays all discovery in the case pending the outcome of the motions to dismiss, and informs the parties that a telephonic conference to address discovery and the filing of SEPTA&#x2019;s motion for class certification will be scheduled after the Court&#x2019;s ruling on the motions to dismiss.</p> <p style="MARGIN-TOP: 12pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> The matter is currently progressing through the legal process. The Defendants believe that the allegations in the complaint are without merit, and intend to defend vigorously against those claims.</p> <!-- /xbrl,ns --> </div>
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.87
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.00
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8089000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.87
us-gaap Stock Issued During Period Shares Treasury Stock Reissued
StockIssuedDuringPeriodSharesTreasuryStockReissued
1 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8088876 shares
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
235 shares
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
16311000
us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
26610 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8089000 shares
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="MARGIN-TOP: 12pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> <i>Concentration of Credit Risk</i> &#x2013; The Company grants commercial, residential and consumer loans to customers in its market area. Although the Company maintains a diversified loan portfolio, a significant portion of its customers&#x2019; ability to honor their contracts is dependent upon economic sectors for construction contractors, residential and non-residential building operators, sales finance, sub-dividers and developers. Management evaluates each customer&#x2019;s creditworthiness on a case-by-case basis. The amount of collateral obtained, if collateral is deemed necessary by the Company upon the extension of credit, is based on management&#x2019;s credit evaluation of the customer. Collateral held varies, but generally includes real estate and equipment.</p> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px; FONT-SIZE: 1px"> &#xA0;</p> <p style="MARGIN-TOP: 0pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> The types of securities the Company invests in are included in Note 2, &#x201C;Securities Available for Sale&#x201D; and the types of lending the Company engages in are included in Note 3, &#x201C;Loans Receivable and Allowance for Loan Losses.&#x201D;</p> </div>
us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
11 Contract
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-TOP: 12pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> <i>Use of Estimates &#x2013;</i> The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="MARGIN-TOP: 12pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for losses on loans and the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, and the valuation allowance required on its deferred tax assets. In connection with the determination of the allowance for losses on loans and foreclosed real estate, management obtains independent appraisals for significant properties.</p> <p style="MARGIN-TOP: 12pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> While management uses available information to recognize losses on loans and foreclosed real estate, future additions to the allowances may be necessary based on changes in local economic conditions. In addition, regulatory agencies, as an integral part of their examination process, periodically review the Company&#x2019;s allowance for losses on loans and foreclosed real estate. Such agencies may require the Company to recognize additions to the allowance based on their judgments concerning information available to them at the time of their examination. Because of these factors, management&#x2019;s estimate of credit losses inherent in the loan portfolio and the related allowance may change in the near term.</p> <p style="MARGIN-TOP: 12pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> The Company has established a full valuation allowance on its net deferred tax assets at September&#xA0;30, 2013, based on the Company&#x2019;s previous taxable losses, projections for future taxable income, and other available evidence, in which management determined it was &#x201C;more likely than not&#x201D; that some portion of the asset would not be realized. Management may need to modify its judgment in this regard from one quarter to the next, and should improvement occur in operating performance, the need for a full valuation allowance may be reduced or eliminated.</p> </div>
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
23574000
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
24974000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1567000
us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
419000
us-gaap Fees And Commissions Depositor Accounts
FeesAndCommissionsDepositorAccounts
4307000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-8477000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
155841000
us-gaap Increase Decrease In Loans Held For Sale
IncreaseDecreaseInLoansHeldForSale
-6214000
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
0
us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
2716000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
21039000
us-gaap Payments For Proceeds From Life Insurance Policies
PaymentsForProceedsFromLifeInsurancePolicies
605000
us-gaap Income Taxes Paid
IncomeTaxesPaid
0
us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
341000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-5510000
us-gaap Fees And Commissions Mortgage Banking
FeesAndCommissionsMortgageBanking
2584000
us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
4545000
us-gaap Fees And Commissions Other
FeesAndCommissionsOther
789000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-8198000
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
374000
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
3000
us-gaap Fees And Commissions Fiduciary And Trust Activities
FeesAndCommissionsFiduciaryAndTrustActivities
3551000
us-gaap Interest Paid
InterestPaid
3974000
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
118000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
6856000
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
27455000
us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
365000
us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
23803000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
2695000
us-gaap Interest And Dividend Income Securities Other
InterestAndDividendIncomeSecuritiesOther
152000
us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
279000
us-gaap Net Income Loss
NetIncomeLoss
7077000
us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
-19214000
us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
-144000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-5996000
us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
784000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-5510000
us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
721000
us-gaap Brokerage Commissions Revenue
BrokerageCommissionsRevenue
1502000
us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
PaymentsForProceedsFromFederalHomeLoanBankStock
-1767000
us-gaap Noninterest Income
NoninterestIncome
13695000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1218000
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-50106000
us-gaap Noninterest Expense
NoninterestExpense
31813000
us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
369000
us-gaap Taxes Other
TaxesOther
710000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-55223000
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-1320000
us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
4131000
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
33000
us-gaap Communication
Communication
301000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-2967000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1320000
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
-1400000
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
412000
us-gaap Other Noninterest Expense
OtherNoninterestExpense
4375000
us-gaap Equipment Expense
EquipmentExpense
2528000
us-gaap Share Based Compensation
ShareBasedCompensation
125000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2076000
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
15670000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-80312000
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-281000
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
25519000
us-gaap Interest Expense
InterestExpense
3881000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
252000
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
20044000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-41400000
us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
5059000
us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
6595000
us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
140000
us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
1938000
us-gaap Interest Expense Deposits
InterestExpenseDeposits
3436000
us-gaap Proceeds From Sale Of Loans Receivable
ProceedsFromSaleOfLoansReceivable
0
us-gaap Occupancy Costs
OccupancyCosts
1521000
us-gaap Impairment Of Investments
ImpairmentOfInvestments
0
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
157000
us-gaap Professional Fees
ProfessionalFees
1801000
us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
1079000
us-gaap Labor And Related Expense
LaborAndRelatedExpense
16717000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
279000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
68080000
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
60000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-221000
orrf Advertising And Bank Promotions
AdvertisingAndBankPromotions
716000
orrf Short Term Borrowing Maturity Period
ShortTermBorrowingMaturityPeriod
P90D
orrf Number Of Notes Split
NumberOfNotesSplit
2 Note
orrf Lower Of Cost Or Fair Value Reserve
LowerOfCostOrFairValueReserve
0
orrf Cumulative Loss Position Significant Negative Evidence Against Realizability Of Deferred Tax Asset
CumulativeLossPositionSignificantNegativeEvidenceAgainstRealizabilityOfDeferredTaxAsset
P3Y
orrf Percentage Of Strong Loan To Value
PercentageOfStrongLoanToValue
0.70 pure
orrf Maximum Percentage Of Loan To Value Ratio Of Value Of Real Estate Taken As Collateral
MaximumPercentageOfLoanToValueRatioOfValueOfRealEstateTakenAsCollateral
0.90 pure
orrf Maximum Number Of Days Of Past Due Assigned As Substandard Rating
MaximumNumberOfDaysOfPastDueAssignedAsSubstandardRating
More than 90 days
orrf Maximum Percentage Of Credit Worthiness Of Borrower
MaximumPercentageOfCreditWorthinessOfBorrower
0.43 pure
orrf Specific Charges To Value Real Estate Owned
SpecificChargesToValueRealEstateOwned
412000
orrf Percentage Of Deferred Tax Assets
PercentageOfDeferredTaxAssets
0.50 pure
orrf Write Down Of Other Real Estate Owned
WriteDownOfOtherRealEstateOwned
29000
orrf Available For Sale Securities Purchased Not Settled
AvailableForSaleSecuritiesPurchasedNotSettled
34578000
orrf Maximum Period For Temporary Reduction In Interest Rates
MaximumPeriodForTemporaryReductionInInterestRates
P12M
orrf Real Estate Owned Expenses
RealEstateOwnedExpenses
115000
orrf Collection And Problem Loan
CollectionAndProblemLoan
565000
orrf Other Expenses Estimating Losses
OtherExpensesEstimatingLosses
-70000
orrf Increase Decrease In Interest Payable And Other Liabilities
IncreaseDecreaseInInterestPayableAndOtherLiabilities
-253000
orrf Maturity Of Interest Bearing Deposits
MaturityOfInterestBearingDeposits
P90D
orrf Maximum Percentage Of Loan To Value Ratio Upon Loan Origination
MaximumPercentageOfLoanToValueRatioUponLoanOrigination
0.80 pure
orrf Non Interest Income Expense Net
NonInterestIncomeExpenseNet
-38000
orrf Provision For Income Taxes Related To Net Security Gains
ProvisionForIncomeTaxesRelatedToNetSecurityGains
98000
orrf Financing Receivable Default Of Terms Number Of Contracts One
FinancingReceivableDefaultOfTermsNumberOfContractsOne
0 Contract
orrf Number Of Offices
NumberOfOffices
21 Office
orrf Financing Receivables Modifications During Period Number Of Contracts
FinancingReceivablesModificationsDuringPeriodNumberOfContracts
5 Contract
orrf Cash And Cash Equivalents Including Cash Balances Due From Banks And Funds Sold Maturity Period
CashAndCashEquivalentsIncludingCashBalancesDueFromBanksAndFundsSoldMaturityPeriod
P90D
orrf Financing Receivable Default Of Terms Post Modification Recorded Investment One
FinancingReceivableDefaultOfTermsPostModificationRecordedInvestmentOne
0
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.90
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.00
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8062000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.90
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8061682 shares
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
1407 shares
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
10834000
us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
8879 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8062000 shares
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
29417000
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
-17883000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-40980000
us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
4986000
us-gaap Fees And Commissions Depositor Accounts
FeesAndCommissionsDepositorAccounts
4626000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-2302000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
138000000
us-gaap Increase Decrease In Loans Held For Sale
IncreaseDecreaseInLoansHeldForSale
5496000
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-20384000
us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
3105000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
15990000
us-gaap Payments For Proceeds From Life Insurance Policies
PaymentsForProceedsFromLifeInsurancePolicies
650000
us-gaap Income Taxes Paid
IncomeTaxesPaid
1267000
us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
3237000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-1496000
us-gaap Fees And Commissions Mortgage Banking
FeesAndCommissionsMortgageBanking
2143000
us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
2808000
us-gaap Fees And Commissions Other
FeesAndCommissionsOther
966000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
2522000
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
69000
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
11000
us-gaap Fees And Commissions Fiduciary And Trust Activities
FeesAndCommissionsFiduciaryAndTrustActivities
3348000
us-gaap Interest Paid
InterestPaid
6515000
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-852000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-32534000
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
35449000
us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
1308000
us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
30717000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
17186000
us-gaap Net Income Loss
NetIncomeLoss
-39484000
us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
-84403000
us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
-8000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-5251000
us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
1413000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1496000
us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
749000
us-gaap Interest And Dividend Income Securities Other
InterestAndDividendIncomeSecuritiesOther
214000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
23000
us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
4824000
us-gaap Brokerage Commissions Revenue
BrokerageCommissionsRevenue
1148000
us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
PaymentsForProceedsFromFederalHomeLoanBankStock
-1143000
us-gaap Noninterest Income
NoninterestIncome
18098000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1245000
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-96439000
us-gaap Noninterest Expense
NoninterestExpense
32749000
us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
434000
us-gaap Taxes Other
TaxesOther
695000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-135273000
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
19872000
us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
539000
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
113000
us-gaap Communication
Communication
479000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-806000
CY2012Q3 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
3929000
CY2012Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-20309000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
512000
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
47300000
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
560000
us-gaap Other Noninterest Expense
OtherNoninterestExpense
4788000
us-gaap Equipment Expense
EquipmentExpense
2159000
us-gaap Share Based Compensation
ShareBasedCompensation
0
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1963000
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-22947000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-2065000
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-46000
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
94099000
us-gaap Interest Expense
InterestExpense
6032000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
103000
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
78724000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
122374000
us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
57123000
us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
162000
us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
2019000
us-gaap Interest Expense Deposits
InterestExpenseDeposits
5359000
us-gaap Proceeds From Sale Of Loans Receivable
ProceedsFromSaleOfLoansReceivable
19702000
us-gaap Occupancy Costs
OccupancyCosts
1518000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
157000
us-gaap Professional Fees
ProfessionalFees
2281000
us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
2383000
us-gaap Labor And Related Expense
LaborAndRelatedExpense
14508000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
4824000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
59889000
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-13388000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6950000
orrf Advertising And Bank Promotions
AdvertisingAndBankPromotions
1115000
orrf Write Down Of Other Real Estate Owned
WriteDownOfOtherRealEstateOwned
436000
orrf Available For Sale Securities Purchased Not Settled
AvailableForSaleSecuritiesPurchasedNotSettled
0
orrf Real Estate Owned Expenses
RealEstateOwnedExpenses
706000
orrf Collection And Problem Loan
CollectionAndProblemLoan
1890000
orrf Other Expenses Estimating Losses
OtherExpensesEstimatingLosses
145000
orrf Increase Decrease In Interest Payable And Other Liabilities
IncreaseDecreaseInInterestPayableAndOtherLiabilities
2280000
orrf Non Interest Income Expense Net
NonInterestIncomeExpenseNet
294000
orrf Provision For Income Taxes Related To Net Security Gains
ProvisionForIncomeTaxesRelatedToNetSecurityGains
1688000
orrf Financing Receivable Default Of Terms Number Of Contracts One
FinancingReceivableDefaultOfTermsNumberOfContractsOne
9 Contract
orrf Financing Receivables Modifications During Period Number Of Contracts
FinancingReceivablesModificationsDuringPeriodNumberOfContracts
3 Contract
orrf Financing Receivable Default Of Terms Post Modification Recorded Investment One
FinancingReceivableDefaultOfTermsPostModificationRecordedInvestmentOne
2240000
CY2012 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
12 Contract
CY2012 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
4308000
CY2012 orrf Lower Of Cost Or Fair Value Reserve
LowerOfCostOrFairValueReserve
644000
CY2012 orrf Cumulative Loss Position Significant Negative Evidence Against Realizability Of Deferred Tax Asset
CumulativeLossPositionSignificantNegativeEvidenceAgainstRealizabilityOfDeferredTaxAsset
P3Y
CY2012 orrf Specific Charges To Value Real Estate Owned
SpecificChargesToValueRealEstateOwned
581000
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.65
CY2012Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.00
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8065000 shares
CY2012Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.65
CY2012Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8065268 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8065000 shares
CY2012Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
9029000
CY2012Q3 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
20000
CY2012Q3 us-gaap Fees And Commissions Depositor Accounts
FeesAndCommissionsDepositorAccounts
1564000
CY2012Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
1605000
CY2012Q3 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
768000
CY2012Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
1043000
CY2012Q3 us-gaap Fees And Commissions Mortgage Banking
FeesAndCommissionsMortgageBanking
931000
CY2012Q3 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
510000
CY2012Q3 us-gaap Fees And Commissions Other
FeesAndCommissionsOther
368000
CY2012Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
1603000
CY2012Q3 us-gaap Fees And Commissions Fiduciary And Trust Activities
FeesAndCommissionsFiduciaryAndTrustActivities
1096000
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-2324000
CY2012Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
10731000
CY2012Q3 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
459000
CY2012Q3 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
9567000
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
-21352000
CY2012Q3 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
325000
CY2012Q3 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
251000
CY2012Q3 us-gaap Interest And Dividend Income Securities Other
InterestAndDividendIncomeSecuritiesOther
71000
CY2012Q3 us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
-2000
CY2012Q3 us-gaap Brokerage Commissions Revenue
BrokerageCommissionsRevenue
364000
CY2012Q3 us-gaap Noninterest Income
NoninterestIncome
4880000
CY2012Q3 us-gaap Noninterest Expense
NoninterestExpense
11133000
CY2012Q3 us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
171000
CY2012Q3 us-gaap Taxes Other
TaxesOther
231000
CY2012Q3 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
19872000
CY2012Q3 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
0
CY2012Q3 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
20000
CY2012Q3 us-gaap Communication
Communication
137000
CY2012Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
562000
CY2012Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
3050000
CY2012Q3 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
5100000
CY2012Q3 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
163000
CY2012Q3 us-gaap Other Noninterest Expense
OtherNoninterestExpense
1649000
CY2012Q3 us-gaap Equipment Expense
EquipmentExpense
754000
CY2012Q3 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0
CY2012Q3 us-gaap Interest Expense
InterestExpense
1702000
CY2012Q3 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
59980000
CY2012Q3 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
5145000
CY2012Q3 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
22000
CY2012Q3 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
788000
CY2012Q3 us-gaap Interest Expense Deposits
InterestExpenseDeposits
1519000
CY2012Q3 us-gaap Occupancy Costs
OccupancyCosts
491000
CY2012Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
52000
CY2012Q3 us-gaap Professional Fees
ProfessionalFees
729000
CY2012Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
4874000
CY2012Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
-2000
CY2012Q3 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-3894000
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
19028000
CY2012Q3 orrf Advertising And Bank Promotions
AdvertisingAndBankPromotions
434000
CY2012Q3 orrf Concentration Risk Credit Risk Financial Instrument Maximum Exposure Charged To Noninterest Expense
ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposureChargedToNoninterestExpense
76000
CY2012Q3 orrf Real Estate Owned Expenses
RealEstateOwnedExpenses
230000
CY2012Q3 orrf Collection And Problem Loan
CollectionAndProblemLoan
593000
CY2012Q3 orrf Non Interest Income Expense Net
NonInterestIncomeExpenseNet
308000
CY2012Q3 orrf Provision For Income Taxes Related To Net Security Gains
ProvisionForIncomeTaxesRelatedToNetSecurityGains
-1000
CY2012Q3 orrf Financing Receivables Modifications During Period Number Of Contracts
FinancingReceivablesModificationsDuringPeriodNumberOfContracts
0 Contract
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
CY2013Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.00
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8091000 shares
CY2013Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
CY2013Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8091172 shares
CY2013Q3 us-gaap Loss Contingency Date Of Dismissal
LossContingencyDateOfDismissal
2013-08-23
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8091000 shares
CY2013Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
7766000
CY2013Q3 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
7766000
CY2013Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1560000
CY2013Q3 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
160000
CY2013Q3 us-gaap Fees And Commissions Depositor Accounts
FeesAndCommissionsDepositorAccounts
1448000
CY2013Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-845000
CY2013Q3 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
904000
CY2013Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-549000
CY2013Q3 us-gaap Fees And Commissions Mortgage Banking
FeesAndCommissionsMortgageBanking
727000
CY2013Q3 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
2969000
CY2013Q3 us-gaap Fees And Commissions Other
FeesAndCommissionsOther
283000
CY2013Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-688000
CY2013Q3 us-gaap Fees And Commissions Fiduciary And Trust Activities
FeesAndCommissionsFiduciaryAndTrustActivities
1273000
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1828000
CY2013Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
8982000
CY2013Q3 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
187000
CY2013Q3 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
7739000
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
2109000
CY2013Q3 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
298000
CY2013Q3 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
241000
CY2013Q3 us-gaap Interest And Dividend Income Securities Other
InterestAndDividendIncomeSecuritiesOther
41000
CY2013Q3 us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
157000
CY2013Q3 us-gaap Brokerage Commissions Revenue
BrokerageCommissionsRevenue
426000
CY2013Q3 us-gaap Noninterest Income
NoninterestIncome
4599000
CY2013Q3 us-gaap Noninterest Expense
NoninterestExpense
10537000
CY2013Q3 us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
106000
CY2013Q3 us-gaap Taxes Other
TaxesOther
222000
CY2013Q3 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-532000
CY2013Q3 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
3607000
CY2013Q3 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
19000
CY2013Q3 us-gaap Communication
Communication
108000
CY2013Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-296000
CY2013Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
532000
CY2013Q3 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
0
CY2013Q3 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
124000
CY2013Q3 us-gaap Other Noninterest Expense
OtherNoninterestExpense
1499000
CY2013Q3 us-gaap Equipment Expense
EquipmentExpense
900000
CY2013Q3 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-281000
CY2013Q3 us-gaap Interest Expense
InterestExpense
1216000
CY2013Q3 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
20923000
CY2013Q3 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
1815000
CY2013Q3 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
3000
CY2013Q3 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
647000
CY2013Q3 us-gaap Interest Expense Deposits
InterestExpenseDeposits
1073000
CY2013Q3 us-gaap Occupancy Costs
OccupancyCosts
486000
CY2013Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
52000
CY2013Q3 us-gaap Professional Fees
ProfessionalFees
463000
CY2013Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
5584000
CY2013Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
157000
CY2013Q3 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-281000
CY2013Q3 orrf Advertising And Bank Promotions
AdvertisingAndBankPromotions
231000
CY2013Q3 orrf Concentration Risk Credit Risk Financial Instrument Maximum Exposure Charged To Noninterest Expense
ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposureChargedToNoninterestExpense
76000
CY2013Q3 orrf Real Estate Owned Expenses
RealEstateOwnedExpenses
55000
CY2013Q3 orrf Collection And Problem Loan
CollectionAndProblemLoan
184000
CY2013Q3 orrf Non Interest Income Expense Net
NonInterestIncomeExpenseNet
44000
CY2013Q3 orrf Provision For Income Taxes Related To Net Security Gains
ProvisionForIncomeTaxesRelatedToNetSecurityGains
55000
CY2013Q3 orrf Financing Receivables Modifications During Period Number Of Contracts
FinancingReceivablesModificationsDuringPeriodNumberOfContracts
4 Contract

Files In Submission

Name View Source Status
0001193125-13-435235-index-headers.html Edgar Link pending
0001193125-13-435235-index.html Edgar Link pending
0001193125-13-435235.txt Edgar Link pending
0001193125-13-435235-xbrl.zip Edgar Link pending
d594307d10q.htm Edgar Link pending
d594307dex311.htm Edgar Link pending
d594307dex312.htm Edgar Link pending
d594307dex321.htm Edgar Link pending
d594307dex322.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
orrf-20130930.xml Edgar Link completed
orrf-20130930.xsd Edgar Link pending
orrf-20130930_cal.xml Edgar Link unprocessable
orrf-20130930_def.xml Edgar Link unprocessable
orrf-20130930_lab.xml Edgar Link unprocessable
orrf-20130930_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending