2012 Q4 Form 10-K Financial Statement

#000119312514099107 Filed on March 14, 2014

View on sec.gov

Income Statement

Concept 2012 Q4 2012 2011 Q4
Revenue $45.44M
YoY Change -24.73%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $989.0K
YoY Change 10.26%
% of Gross Profit
Depreciation & Amortization $650.0K $2.004M $720.0K
YoY Change -9.72% -1.52% -2.7%
% of Gross Profit
Operating Expenses $989.0K
YoY Change 10.26%
Operating Profit
YoY Change
Interest Expense $7.548M
YoY Change -29.81%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $2.040M -$30.50M -$37.77M
YoY Change -105.4% -28.79% -731.61%
Income Tax $1.010M $7.955M -$8.290M
% Of Pretax Income 49.51%
Net Earnings $1.030M -$38.45M -$29.48M
YoY Change -103.49% 20.3% -773.06%
Net Earnings / Revenue -84.63%
Basic Earnings Per Share -$4.77
Diluted Earnings Per Share $127.5K -$4.77 -$3.662M
COMMON SHARES
Basic Shares Outstanding 8.066M shares
Diluted Shares Outstanding 8.066M shares

Balance Sheet

Concept 2012 Q4 2012 2011 Q4
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 $26.78M $26.80M $27.20M
YoY Change -1.54% -1.47% -2.16%
Goodwill $0.00
YoY Change
Intangibles $832.0K
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.233B $1.233B $1.444B
YoY Change -14.64% -14.64% -4.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.80M $12.80M $10.20M
YoY Change 25.49% 25.49% 4.08%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $9.650M $9.700M $35.00M
YoY Change -72.43% -72.29% -60.18%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $12.80M $12.80M $10.20M
YoY Change 25.49% 25.49% 4.08%
LONG-TERM LIABILITIES
Long-Term Debt $37.50M $0.00 $53.80M
YoY Change -30.3% -17.48%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $37.50M $0.00 $53.80M
YoY Change -30.3% -17.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.80M $12.80M $10.20M
Total Long-Term Liabilities $37.50M $0.00 $53.80M
Total Liabilities $1.145B $1.145B $1.316B
YoY Change -12.99% -12.99% -2.61%
SHAREHOLDERS EQUITY
Retained Earnings -$37.26M
YoY Change
Common Stock $421.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $20.00K
YoY Change
Treasury Stock Shares 812.0 shares
Shareholders Equity $87.69M $87.70M $128.2M
YoY Change
Total Liabilities & Shareholders Equity $1.233B $1.233B $1.444B
YoY Change -14.64% -14.64% -4.47%

Cashflow Statement

Concept 2012 Q4 2012 2011 Q4
OPERATING ACTIVITIES
Net Income $1.030M -$38.45M -$29.48M
YoY Change -103.49% 20.3% -773.06%
Depreciation, Depletion And Amortization $650.0K $2.004M $720.0K
YoY Change -9.72% -1.52% -2.7%
Cash From Operating Activities $7.830M $18.66M $14.07M
YoY Change -44.35% -46.47% 17.35%
INVESTING ACTIVITIES
Capital Expenditures -$350.0K $1.603M -$550.0K
YoY Change -36.36% 10.86% 223.53%
Acquisitions
YoY Change
Other Investing Activities $77.32M $197.3M $32.59M
YoY Change 137.25% 2606.86% -153.07%
Cash From Investing Activities $76.96M $195.7M $32.04M
YoY Change 140.2% 106.12% -152.03%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00
YoY Change -100.0%
Common Stock Issuance & Retirement, Net -$189.0K
YoY Change -79.74%
Debt Paid & Issued, Net $16.33M
YoY Change -60.54%
Cash From Financing Activities -38.10M -$173.4M -42.72M
YoY Change -10.81% 330.53% -221.4%
NET CHANGE
Cash From Operating Activities 7.830M $18.66M 14.07M
Cash From Investing Activities 76.96M $195.7M 32.04M
Cash From Financing Activities -38.10M -$173.4M -42.72M
Net Change In Cash 46.69M $41.02M 3.390M
YoY Change 1277.29% -54.19% -123.54%
FREE CASH FLOW
Cash From Operating Activities $7.830M $18.66M $14.07M
Capital Expenditures -$350.0K $1.603M -$550.0K
Free Cash Flow $8.180M $17.06M $14.62M
YoY Change -44.05% -48.95% 20.23%

Facts In Submission

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0.10 pure
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1.25
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3450000
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318000
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332000
CY2013Q4 us-gaap Deferred Tax Liabilities Other
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582000
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116371000
CY2013Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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25043000
CY2013Q4 us-gaap Interest Bearing Deposit Liabilities Domestic
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884019000
CY2013Q4 us-gaap Deferred Income Tax Liabilities
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2193000
CY2013Q4 us-gaap Short Term Borrowings
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59032000
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219101000
CY2013Q4 us-gaap Additional Paid In Capital
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123105000
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10874000
CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due
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1466000
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20462000
CY2013Q4 us-gaap Time Deposit Maturities Year Two
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63284000
CY2013Q4 us-gaap Time Deposits Less Than100000
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183344000
CY2013Q4 us-gaap Deposits Money Market Deposits
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486440000
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4183000
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167000
CY2013Q4 us-gaap Deferred Tax Assets Valuation Allowance
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18964000
CY2013Q4 us-gaap Letters Of Credit Outstanding Amount
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1680000
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CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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183000
CY2013Q4 us-gaap Advances From Federal Home Loan Banks
AdvancesFromFederalHomeLoanBanks
16077000
CY2013Q4 us-gaap Loans And Leases Receivable Allowance
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20965000
CY2013Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
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613000
CY2013Q4 us-gaap Time Deposits100000 Or More Domestic
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134572000
CY2013Q4 us-gaap Stockholders Equity
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91439000
CY2013Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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11265000
CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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124000
CY2013Q4 us-gaap Line Of Credit
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365000
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1116000
CY2013Q4 us-gaap Deposits
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1000390000
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
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-27255000
CY2013Q4 us-gaap Time Deposit Maturities Year Five
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2357000
CY2013Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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2307000
CY2013Q4 us-gaap Common Stock Value
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422000
CY2013Q4 us-gaap Deposits Savings Deposits
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79663000
CY2013Q4 us-gaap Liabilities And Stockholders Equity
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1177812000
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317000
CY2013Q4 us-gaap Long Term Debt
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16077000
CY2013Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
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20352000
CY2013Q4 us-gaap Liabilities
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1086373000
CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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291000
CY2013Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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348000
CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due Current
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383000
CY2013Q4 us-gaap Time Deposit Maturities After Year Five
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8529000
CY2013Q4 us-gaap Assets Sold Under Agreements To Repurchase Carrying Amounts
AssetsSoldUnderAgreementsToRepurchaseCarryingAmounts
9032000
CY2013Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
184000
CY2013Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
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19347000
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
2248000
CY2013Q4 us-gaap Cash And Due From Banks
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12995000
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
37000
CY2013Q4 us-gaap Available For Sale Securities Pledged As Collateral
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241911000
CY2013Q4 us-gaap Available For Sale Securities Amortized Cost
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414348000
CY2013Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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191000
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
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2241000
CY2013Q4 us-gaap Intangible Assets Net Excluding Goodwill
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622000
CY2013Q4 us-gaap Loans And Leases Receivable Net Reported Amount
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652008000
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8169000
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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208000
CY2013Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
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510000
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676000
CY2013Q4 us-gaap Restricted Investments
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9921000
CY2013Q4 us-gaap Deferred Tax Assets Gross
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23749000
CY2013Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Alternative Minimum Tax
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664000
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39000
CY2013Q4 us-gaap Assets
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CY2013Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
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26207000
CY2013Q4 us-gaap Deferred Tax Assets Charitable Contribution Carryforwards
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333000
CY2013Q4 us-gaap Deferred Tax Assets Liabilities Net
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2592000
CY2013Q4 us-gaap Financing Receivable Recorded Investment30 To59 Days Past Due
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3264000
CY2013Q4 us-gaap Financing Receivable Recorded Investment Past Due
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3963000
CY2013Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
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35000
CY2013Q4 us-gaap Loans Receivable Held For Sale Net
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1936000
CY2013Q4 us-gaap Financing Receivable Recorded Investment60 To89 Days Past Due
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699000
CY2013Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
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0
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78789000
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205000
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381000
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4785000
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51484000
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3400000
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260908000
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622000
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24659000
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25335000
CY2013Q4 us-gaap Cash Cash Equivalents And Federal Funds Sold
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37560000
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647727000
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380000
CY2013Q4 us-gaap Available For Sale Securities
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406943000
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
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82106000
CY2013Q4 us-gaap Deferred Tax Assets Unrealized Losses On Availablefor Sale Securities Gross
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2592000
CY2013Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2929000
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
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29291000
CY2013Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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414298000
CY2013Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
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1160000
CY2013Q4 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
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27349000
CY2013Q4 us-gaap Interest Bearing Deposits In Banks
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24565000
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15067000
CY2013Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
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645702000
CY2013Q4 us-gaap Available For Sale Securities Equity Securities
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69000
CY2013Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
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671037000
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94000
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25850000
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406874000
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39000
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7776000
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287115000
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178000
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50000
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987000
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
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30808000
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26441000
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341000
CY2013Q4 orrf Held To Maturity Or Trading Securities
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0
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1022000
CY2013Q4 orrf Concentration Risk Credit Risk Financial Instrument Maximum Exposure Liability
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529000
CY2013Q4 orrf Deferred Tax Assets Retirement Plans And Salary Continuation
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1585000
CY2013Q4 orrf Minimum Amount Of Loan Rated As Substandard
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250000
CY2013Q4 orrf Number Of Banks
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2 Bank
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250000
CY2013Q4 orrf Number Of Legal Proceedings That Have Material Effect
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0 Claim
CY2013Q4 orrf Deferred Tax Assets Off Balance Sheet Reserves
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204000
CY2013Q4 orrf Balance Of Loans Serviced For Others
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322653000
CY2013Q4 orrf Minimum Amount Of Loan On Which Review Have Been Made Annually
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1000000
CY2013Q4 orrf Debt Securities Other Than Temporarily Impaired
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0
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0
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495000
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7466000
CY2013Q4 orrf Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses Accumulated In Aoci
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1560000
CY2013Q4 orrf Available For Sale Securities Gross Unrealized Loss Accumulated In Investments
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9026000
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1602000
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9026000
CY2013Q4 orrf Available For Sale Equity Securities Gross Unrealized Loss Accumulated In Investments
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0
CY2013Q4 orrf Available For Sale Securities Gross Unrealized Gain Accumulated In Investments
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1621000
CY2013Q4 orrf Available For Sale Equity Securities Gross Unrealized Gain Accumulated In Investments
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19000
CY2013Q4 orrf Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses Accumulated In Aoci
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9026000
CY2013Q4 orrf Impaired Financing Receivables Allocated Allowance
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3238000
CY2013Q4 orrf Investment In Real Estate Partnership
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3779000
CY2013Q4 orrf Average Balances To Be Maintained On Hand Or With Correspondent Banks
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1025000
CY2013Q4 orrf Related Party Transaction Amount Of Loans To Related Party
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549000
CY2013Q4 orrf Related Party Transaction Amount Of New Loans Granted To Related Party
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882000
CY2013Q4 orrf Debt Instrument Additional Borrowing Capacity
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262594000
CY2013Q4 orrf Collateral Securities Outstanding Amount
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486220000
CY2013Q4 orrf Common Stock Shares Reserved For Issuance Under Purchase Plan
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1045000 shares
CY2013Q4 orrf Maximum Amount Available For Loan By Bank
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11500000
CY2013Q4 orrf Line Of Credit Facility Current Borrowing
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0
CY2013Q4 orrf Assets Sold Under Agreements To Repurchase Average Outstanding Amount
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13772000
CY2013Q4 orrf Assets Sold Under Agreements To Repurchase Maximum Month End Outstanding Amount
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19105000
CY2013Q4 orrf Employees Deposits
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550000
CY2013Q4 orrf Notes Receivable Carrying Amount
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2576000
CY2013Q4 orrf Securities Held Under Agreements To Repurchase Carrying Amount
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52936000
CY2013Q4 orrf Securities Held Under Agreements To Repurchase Fair Value
SecuritiesHeldUnderAgreementsToRepurchaseFairValue
52024000
CY2013Q4 orrf Short Term Borrowings Other Than Repurchase Agreements
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50000000
CY2013Q4 orrf Time Deposit Brokered
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53196000
CY2013Q4 orrf Available For Sale Securities Mortgage Backed Securities And Collateralized Mortgage Obligations Amortized Cost
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298763000
CY2013Q4 orrf Available For Sale Securities Mortgage Backed Securities And Collateralized Mortgage Obligations Fair Value
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296165000
CY2013Q4 orrf Financing Receivable Modified Balance End Of Period Number Of Contract
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12 Contract
CY2013Q4 orrf Financing Receivable Modified Balance End Of Period
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7535000
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8027000 shares
CY2011 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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10000 shares
CY2011 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350 pure
CY2011 us-gaap Earnings Per Share Basic
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0.254 pure
CY2011 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
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CY2011 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.000 pure
CY2011 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
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24569 shares
CY2011 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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-0.001 pure
CY2011 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Life Insurance
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0.009 pure
CY2011 us-gaap Treasury Stock Shares Acquired
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2232 shares
CY2011 us-gaap Debt Instrument Interest Rate During Period
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0.0024 pure
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34855000
CY2011 us-gaap Stock Issued During Period Shares Share Based Compensation Gross
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44252 shares
CY2011 us-gaap Weighted Average Number Of Shares Outstanding Basic
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8017000 shares
CY2011 us-gaap Employee Stock Ownership Plan Esop Weighted Average Purchase Price Of Shares Purchased
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13.18
CY2011 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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-0.001 pure
CY2011 us-gaap Effective Income Tax Rate Reconciliation Tax Exempt Income
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0.043 pure
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CY2011 us-gaap Interest Income Expense Net
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49607000
CY2011 us-gaap Interest Income Expense After Provision For Loan Loss
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CY2011 us-gaap Comprehensive Income Net Of Tax
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-27787000
CY2011 us-gaap Payments To Acquire Equity Method Investments
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254000
CY2011 us-gaap Available For Sale Securities Gross Realized Gains
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6401000
CY2011 us-gaap Fees And Commissions Depositor Accounts
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6411000
CY2011 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
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7344000
CY2011 us-gaap Payments To Acquire Available For Sale Securities
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94410000
CY2011 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
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261000
CY2011 us-gaap Increase Decrease In Loans Held For Sale
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CY2011 us-gaap Increase Decrease In Deferred Income Taxes
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15136000
CY2011 us-gaap Shortterm Debt Maximum Monthend Outstanding Amount
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20000000
CY2011 us-gaap Interest Income Securities Taxable
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8334000
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41380000
CY2011 us-gaap Real Estate Partnership Investment Subsidiaries Net Income Loss Before Tax
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CY2011 us-gaap Income Taxes Paid
IncomeTaxesPaid
3700000
CY2011 us-gaap Payments For Proceeds From Derivative Instrument Financing Activities
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-911000
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2365000
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4774000
CY2011 us-gaap Fees And Commissions Mortgage Banking
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CY2013 dei Trading Symbol
TradingSymbol
ORRF
CY2013 dei Entity Registrant Name
EntityRegistrantName
ORRSTOWN FINANCIAL SERVICES INC
CY2013 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2013 dei Amendment Flag
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false
CY2013 dei Entity Filer Category
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Accelerated Filer
CY2013 dei Document Fiscal Year Focus
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2013
CY2013 dei Document Type
DocumentType
10-K
CY2013 dei Document Period End Date
DocumentPeriodEndDate
2013-12-31
CY2013 dei Entity Central Index Key
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0000826154
CY2013 dei Entity Well Known Seasoned Issuer
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No
CY2013 dei Current Fiscal Year End Date
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--12-31
CY2013 dei Document Fiscal Period Focus
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FY
CY2013 dei Entity Voluntary Filers
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CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
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CY2013 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt"> <b>NOTE 21 &#x2013; CONTINGENCIES</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> 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-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> 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-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> 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-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> 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-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> 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. On December&#xA0;5, 2013, the Court ordered oral argument on the Orrstown Defendants&#x2019; motion to dismiss the amended complaint to be heard on February&#xA0;7, 2014. On January&#xA0;16, 2014, by unopposed motion of the auditor defendants, the Court rescheduled oral argument on all defendants&#x2019; motions to dismiss for March&#xA0;27, 2014.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The Second Scheduling Order stays all discovery in the case pending the outcome of the motions to dismiss, and informs the parties that, if required, 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-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px"> &#xA0;</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt; TEXT-INDENT: 4%"> The matter is currently progressing through the legal process. The Orrstown Defendants believe that the allegations in the amended complaint are without merit and intend to defend themselves vigorously against those claims.</p> </div>
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CY2013 us-gaap Earnings Per Share Basic
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1.24
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-0.021 pure
CY2013 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
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CY2013 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2013 us-gaap Loss Contingency Date Of Dismissal
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CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
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CY2013 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
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21.14
CY2013 us-gaap Concentration Risk Credit Risk
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt; TEXT-INDENT: 4%"> <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-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The types of securities the Company invests in are included in Note 3, &#x201C;Securities Available for Sale&#x201D; and the type of lending the Company engages in are included in Note 4, &#x201C;Loans Receivable and Allowance for Loan Losses.&#x201D;</p> </div>
CY2013 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> <i>Reclassifications &#x2013;</i> Certain amounts in the 2011 and 2012 consolidated financial statements have been reclassified to conform to the 2013 presentation.</p> </div>
CY2013 us-gaap Employee Stock Ownership Plan Esop Weighted Average Purchase Price Of Shares Purchased
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24.19
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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CY2013 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> <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-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> 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-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> 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-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The Company has established a full valuation allowance on its net deferred tax assets at December&#xA0;31, 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>
CY2013 us-gaap Effective Income Tax Rate Reconciliation Tax Exempt Income
EffectiveIncomeTaxRateReconciliationTaxExemptIncome
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CY2013 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
40.14
CY2013 us-gaap Stock Issued During Period Shares Employee Stock Ownership Plan
StockIssuedDuringPeriodSharesEmployeeStockOwnershipPlan
21609 shares
CY2013 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
32087000
CY2013 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
35237000
CY2013 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3363000
CY2013 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
0
CY2013 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
473000
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FeesAndCommissionsDepositorAccounts
5716000
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OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-10217000
CY2013 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
282859000
CY2013 us-gaap Increase Decrease In Loans Held For Sale
IncreaseDecreaseInLoansHeldForSale
-5926000
CY2013 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
0
CY2013 us-gaap Shortterm Debt Maximum Monthend Outstanding Amount
ShorttermDebtMaximumMonthendOutstandingAmount
50000000
CY2013 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
4300000
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RepaymentsOfLongTermDebt
21393000
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RealEstatePartnershipInvestmentSubsidiariesNetIncomeLossBeforeTax
-361000
CY2013 us-gaap Income Taxes Paid
IncomeTaxesPaid
0
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PaymentsForProceedsFromDerivativeInstrumentFinancingActivities
0
CY2013 us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
494000
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OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-6641000
CY2013 us-gaap Fees And Commissions Mortgage Banking
FeesAndCommissionsMortgageBanking
3053000
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AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
6676000
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1070000
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-9885000
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10540000
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378000
CY2013 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
4000
CY2013 us-gaap Taxes Other
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939000
CY2013 us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
542000
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GainLossOnSaleOfDerivatives
0
CY2013 us-gaap Fees And Commissions Fiduciary And Trust Activities
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4770000
CY2013 us-gaap Interest Paid
InterestPaid
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212000
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OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesBeforeTax
0
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
9798000
CY2013 us-gaap Interest And Dividend Income Operating
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633000
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31558000
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-12356000
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NetIncomeLoss
10004000
CY2013 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
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GainsLossesOnSalesOfOtherRealEstate
-149000
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-7147000
CY2013 us-gaap Interest Income Securities Tax Exempt
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1066000
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OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
0
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963000
CY2013 us-gaap Interest And Dividend Income Securities Other
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174000
CY2013 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
129000
CY2013 us-gaap Gain Loss On Sale Of Securities Net
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332000
CY2013 us-gaap Brokerage Commissions Revenue
BrokerageCommissionsRevenue
1911000
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PaymentsForRepurchaseOfCommonStock
0
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OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
0
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117000
CY2013 us-gaap Noninterest Income
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17808000
CY2013 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1868000
CY2013 us-gaap Payments To Acquire Life Insurance Policies
PaymentsToAcquireLifeInsurancePolicies
0
CY2013 us-gaap Payments Of Dividends
PaymentsOfDividends
0
CY2013 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
1054000
CY2013 us-gaap Stock Option Plan Expense
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112000
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-84649000
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43247000
CY2013 us-gaap Restricted Stock Expense
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17000
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-1271000
CY2013 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
5176000
CY2013 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
61000
CY2013 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-3576000
CY2013 us-gaap Deferred Income Tax Expense Benefit
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1271000
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0
CY2013 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
-3150000
CY2013 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
505000
CY2013 us-gaap Other Noninterest Expense
OtherNoninterestExpense
5153000
CY2013 us-gaap Equipment Expense
EquipmentExpense
3446000
CY2013 us-gaap Allowance For Loan And Lease Losses Loans Sold
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137000
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0
CY2013 us-gaap Share Based Compensation
ShareBasedCompensation
129000
CY2013 us-gaap Depreciation And Amortization
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2817000
CY2013 us-gaap Proceeds From Repayments Of Short Term Debt
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49382000
CY2013 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-113128000
CY2013 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-266000
CY2013 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
74273000
CY2013 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
311000
CY2013 us-gaap Interest Expense
InterestExpense
5011000
CY2013 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
253000
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21101000
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NetCashProvidedByUsedInInvestingActivities
-89681000
CY2013 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
5727000
CY2013 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
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5158000
CY2013 us-gaap Available For Sale Securities Gross Realized Losses
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141000
CY2013 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
0
CY2013 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
210000
CY2013 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
2577000
CY2013 us-gaap Interest Expense Deposits
InterestExpenseDeposits
4445000
CY2013 us-gaap Proceeds From Sale Of Loans Receivable
ProceedsFromSaleOfLoansReceivable
2439000
CY2013 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0
CY2013 us-gaap Occupancy Costs
OccupancyCosts
2055000
CY2013 us-gaap Impairment Of Investments
ImpairmentOfInvestments
0
CY2013 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2013 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
210000
CY2013 us-gaap Professional Fees
ProfessionalFees
2255000
CY2013 us-gaap Depreciation
Depreciation
2208000
CY2013 us-gaap Proceeds From Sale Of Other Real Estate
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1188000
CY2013 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
307000
CY2013 us-gaap Labor And Related Expense
LaborAndRelatedExpense
22954000
CY2013 us-gaap Proceeds From Sale Of Treasury Stock
ProceedsFromSaleOfTreasuryStock
0
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OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
332000
CY2013 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
86581000
CY2013 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
60000
CY2013 us-gaap Advertising Expense
AdvertisingExpense
489000
CY2013 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-206000
CY2013 orrf Merchant Processing Revenue
MerchantProcessingRevenue
0
CY2013 orrf Real Estate Owned Expenses
RealEstateOwnedExpenses
137000
CY2013 orrf Collection And Problem Loan
CollectionAndProblemLoan
674000
CY2013 orrf Land For Operating Purposes Transferred To Other Real Estate
LandForOperatingPurposesTransferredToOtherRealEstate
0
CY2013 orrf Increase Decrease In Accrued Interest Payable And Other Liabilities
IncreaseDecreaseInAccruedInterestPayableAndOtherLiabilities
-957000
CY2013 orrf Maturity Of Interest Bearing Deposits
MaturityOfInterestBearingDeposits
P90D
CY2013 orrf Advertising And Bank Promotions
AdvertisingAndBankPromotions
1251000
CY2013 orrf Short Term Borrowing Maturity Period
ShortTermBorrowingMaturityPeriod
P90D
CY2013 orrf Number Of Notes Split
NumberOfNotesSplit
2 Note
CY2013 orrf Cumulative Loss Position Significant Negative Evidence Against Realizability Of Deferred Tax Asset
CumulativeLossPositionSignificantNegativeEvidenceAgainstRealizabilityOfDeferredTaxAsset
P3Y
CY2013 orrf Percentage Of Strong Loan To Value
PercentageOfStrongLoanToValue
0.70 pure
CY2013 orrf Maximum Percentage Of Loan To Value Ratio Of Value Of Real Estate Taken As Collateral
MaximumPercentageOfLoanToValueRatioOfValueOfRealEstateTakenAsCollateral
0.90 pure
CY2013 orrf Maximum Percentage Of Credit Worthiness Of Borrower
MaximumPercentageOfCreditWorthinessOfBorrower
0.43 pure
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-54000
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411000
CY2013 orrf Percentage Of Deferred Tax Assets
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0.50 pure
CY2013 orrf Write Down Of Other Real Estate Owned
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46000
CY2013 orrf Maximum Period For Temporary Reduction In Interest Rates
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P12M
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-7000
CY2013 orrf Maximum Percentage Of Loan To Value Ratio Upon Loan Origination
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0.80 pure
CY2013 orrf Effective Income Tax Rate Reconciliation Nondeductible Expense Goodwill Impairment Losses Rate
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseGoodwillImpairmentLossesRate
0.000 pure
CY2013 orrf Shares Available For Issuance Under Stock Purchase Plan
SharesAvailableForIssuanceUnderStockPurchasePlan
670000 shares
CY2013 orrf Percentage Of Banks Capital Limit For Covered Transactions
PercentageOfBanksCapitalLimitForCoveredTransactions
0.10 pure
CY2013 orrf Provision For Income Taxes Related To Net Security Gains
ProvisionForIncomeTaxesRelatedToNetSecurityGains
116000
CY2013 orrf Number Of Offices
NumberOfOffices
22 Office
CY2013 orrf Financing Receivables Modifications During Period Number Of Contracts
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9 Contract
CY2013 orrf Percentage Of Limited Partner Interest
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0.99 pure
CY2013 orrf Recognition Of Federal Tax Credits
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475000
CY2013 orrf Related Party Transaction Proceeds From Repayments Of Loans To Related Party
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1049000
CY2013 orrf Effective Income Tax Rate Reconciliation Low Income Housing Credits
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-0.022 pure
CY2013 orrf Effective Income Tax Rate Reconciliation Disallowed Interest
EffectiveIncomeTaxRateReconciliationDisallowedInterest
0.003 pure
CY2013 orrf Percentage Of Banks Capital Limit For Aggregate Covered Transactions
PercentageOfBanksCapitalLimitForAggregateCoveredTransactions
0.20 pure
CY2013 orrf Assets Sold Under Agreements To Repurchase Average Interest Rate During Period
AssetsSoldUnderAgreementsToRepurchaseAverageInterestRateDuringPeriod
0.0020 pure
CY2013 orrf Increase Decrease In Other Short Term Investments
IncreaseDecreaseInOtherShortTermInvestments
0
CY2013 orrf Number Of Notes Sold
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8 Note
CY2013 orrf Deposits In Number Of Banks
DepositsInNumberOfBanks
2 Bank
CY2013 orrf Effective Income Tax Rate Reconciliation Benefit Of Operating Loss Carryforward
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-0.038 pure
CY2013 orrf Deferred Tax Assets Low Income Housing Credit Carryforward Expiration Period
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2033
CY2013 orrf Deferred Tax Assets Charitable Contribution Carryforwards Expiration Period
DeferredTaxAssetsCharitableContributionCarryforwardsExpirationPeriod
2018
CY2013 orrf Deferred Tax Assets Operating Loss Carryforwards Expiration Period
DeferredTaxAssetsOperatingLossCarryforwardsExpirationPeriod
2032
CY2012 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.77
CY2012 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.00
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8066000 shares
CY2012 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2012 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350 pure
CY2012 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.77
CY2012 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.261 pure
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-0.664 pure
CY2012 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
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1562 shares
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-0.007 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Life Insurance
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0.012 pure
CY2012 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.0040 pure
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
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18658000
CY2012 us-gaap Stock Issued During Period Shares Share Based Compensation Gross
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23062 shares
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
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8066000 shares
CY2012 us-gaap Employee Stock Ownership Plan Esop Weighted Average Purchase Price Of Shares Purchased
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7.63
CY2012 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.001 pure
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0.048 pure
CY2012 us-gaap Stock Issued During Period Shares Employee Stock Ownership Plan
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23062 shares
CY2012 us-gaap Interest Income Expense Net
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37888000
CY2012 us-gaap Interest Income Expense After Provision For Loan Loss
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-10412000
CY2012 us-gaap Comprehensive Income Net Of Tax
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-40715000
CY2012 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
0
CY2012 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
4986000
CY2012 us-gaap Fees And Commissions Depositor Accounts
FeesAndCommissionsDepositorAccounts
6227000
CY2012 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-3480000
CY2012 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
176788000
CY2012 us-gaap Increase Decrease In Loans Held For Sale
IncreaseDecreaseInLoansHeldForSale
5309000
CY2012 us-gaap Increase Decrease In Deferred Income Taxes
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-20384000
CY2012 us-gaap Shortterm Debt Maximum Monthend Outstanding Amount
ShorttermDebtMaximumMonthendOutstandingAmount
20000000
CY2012 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
3798000
CY2012 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
16328000
CY2012 us-gaap Real Estate Partnership Investment Subsidiaries Net Income Loss Before Tax
RealEstatePartnershipInvestmentSubsidiariesNetIncomeLossBeforeTax
-349000
CY2012 us-gaap Income Taxes Paid
IncomeTaxesPaid
1267000
CY2012 us-gaap Payments For Proceeds From Derivative Instrument Financing Activities
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0
CY2012 us-gaap Transfer Of Other Real Estate
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3951000
CY2012 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-2261000
CY2012 us-gaap Fees And Commissions Mortgage Banking
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3393000
CY2012 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
5410000
CY2012 us-gaap Fees And Commissions Other
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1275000
CY2012 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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1344000
CY2012 us-gaap Shortterm Debt Average Outstanding Amount
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11509000
CY2012 us-gaap Stock Issued During Period Value Share Based Compensation Gross
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177000
CY2012 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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12000
CY2012 us-gaap Gain Loss On Sale Of Derivatives
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0
CY2012 us-gaap Fees And Commissions Fiduciary And Trust Activities
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4575000
CY2012 us-gaap Interest Paid
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8031000
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-1360000
CY2012 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Before Tax
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0
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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-30499000
CY2012 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
45436000
CY2012 us-gaap Impaired Financing Receivable Interest Income Accrual Method
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549000
CY2012 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
39647000
CY2012 us-gaap Increase Decrease In Other Operating Capital Net
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13516000
CY2012 us-gaap Net Income Loss
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-38454000
CY2012 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
-137097000
CY2012 us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
28000
CY2012 us-gaap Accretion Amortization Of Discounts And Premiums Investments
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-6948000
CY2012 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
1704000
CY2012 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2261000
CY2012 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
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0
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162000
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0
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209000
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41019000
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94099000
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315000
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7548000
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189000
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67186000
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287000
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23000
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4824000
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1478000
CY2012 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0
CY2012 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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0
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PaymentsForProceedsFromFederalHomeLoanBankStock
-1954000
CY2012 us-gaap Noninterest Income
NoninterestIncome
23262000
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1603000
CY2012 us-gaap Payments To Acquire Life Insurance Policies
PaymentsToAcquireLifeInsurancePolicies
0
CY2012 us-gaap Payments Of Dividends
PaymentsOfDividends
0
CY2012 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
989000
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IncreaseDecreaseInDeposits
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CY2012 us-gaap Noninterest Expense
NoninterestExpense
43349000
CY2012 us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
574000
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TaxesOther
888000
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RestrictedStockExpense
23000
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NetCashProvidedByUsedInFinancingActivities
-173365000
CY2012 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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20235000
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FinancingReceivableModificationsPreModificationRecordedInvestment2
336000
CY2012 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
120000
CY2012 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-1219000
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DeferredIncomeTaxExpenseBenefit
149000
CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
0
CY2012 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
48300000
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InterestExpenseLongTermDebt
716000
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OtherNoninterestExpense
5592000
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EquipmentExpense
2913000
CY2012 us-gaap Allowance For Loan And Lease Losses Loans Sold
AllowanceForLoanAndLeaseLossesLoansSold
22067000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
23000
CY2012 us-gaap Depreciation And Amortization
DepreciationAndAmortization
2613000
CY2012 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
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CY2012 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
2727000
CY2012 us-gaap Interest Expense Deposits
InterestExpenseDeposits
6712000
CY2012 us-gaap Proceeds From Sale Of Loans Receivable
ProceedsFromSaleOfLoansReceivable
51753000
CY2012 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0
CY2012 us-gaap Occupancy Costs
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1975000
CY2012 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2012 us-gaap Amortization Of Intangible Assets
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209000
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3076000
CY2012 us-gaap Depreciation
Depreciation
2004000
CY2012 us-gaap Proceeds From Sale Of Other Real Estate
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3733000
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LeaseAndRentalExpense
259000
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19864000
CY2012 us-gaap Proceeds From Sale Of Treasury Stock
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0
CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
4824000
CY2012 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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85481000
CY2012 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-12383000
CY2012 us-gaap Advertising Expense
AdvertisingExpense
636000
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7955000
CY2012 orrf Advertising And Bank Promotions
AdvertisingAndBankPromotions
1411000
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
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P3Y
CY2012 orrf Concentration Risk Credit Risk Financial Instrument Maximum Exposure Charged To Noninterest Expense
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-199000
CY2012 orrf Specific Charges To Value Real Estate Owned
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581000
CY2012 orrf Write Down Of Other Real Estate Owned
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535000
CY2012 orrf Merchant Processing Revenue
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149000
CY2012 orrf Real Estate Owned Expenses
RealEstateOwnedExpenses
834000
CY2012 orrf Collection And Problem Loan
CollectionAndProblemLoan
2297000
CY2012 orrf Land For Operating Purposes Transferred To Other Real Estate
LandForOperatingPurposesTransferredToOtherRealEstate
0
CY2012 orrf Increase Decrease In Accrued Interest Payable And Other Liabilities
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1644000
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323000
CY2012 orrf Provision For Income Taxes Related To Net Security Gains
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1688000
CY2012 orrf Financing Receivable Default Of Terms Number Of Contracts One
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5 Contract
CY2012 orrf Financing Receivables Modifications During Period Number Of Contracts
FinancingReceivablesModificationsDuringPeriodNumberOfContracts
2 Contract
CY2012 orrf Financing Receivable Default Of Terms Post Modification Recorded Investment One
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1216000
CY2012 orrf Recognition Of Federal Tax Credits
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475000
CY2012 orrf Effective Income Tax Rate Reconciliation Low Income Housing Credits
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0.000 pure
CY2012 orrf Effective Income Tax Rate Reconciliation Disallowed Interest
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-0.001 pure
CY2012 orrf Effective Income Tax Rate Reconciliation Nondeductible Expense Goodwill Impairment Losses Rate
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0.000 pure
CY2012 orrf Assets Sold Under Agreements To Repurchase Average Interest Rate During Period
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0.0038 pure
CY2012 orrf Increase Decrease In Other Short Term Investments
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0
CY2012 orrf Number Of Notes Sold
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240 Note
CY2012 orrf Effective Income Tax Rate Reconciliation Benefit Of Operating Loss Carryforward
EffectiveIncomeTaxRateReconciliationBenefitOfOperatingLossCarryforward
0.000 pure

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