Orrstown Financial Services, Inc. · NASDAQ:ORRF
Orrstown Financial Services — Q1 2026 Earnings Presentation
18 slides from Orrstown Financial Services's earnings presentation, Apr 22, 2026
Slide 1: Earnings Presentation First Quarter 2026
Earnings Presentation First Quarter 2026 April 22, 2026
Slide 2: Cautionary Note Regarding Forward Looking Statements | Non-GAAP Disclosures
Cautionary Note Regarding Forward Looking Statements | Non-GAAP Disclosures This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements reflect the current views of the Company's manag
Slide 3: Financial Highlights
Financial Highlights 1Q26 4Q25 1Q25 Qtr / Qtr Chge Yr / Yr Chge Quarterly Commentary Net Income 1 $ 21.8 $ 21.5 $ 18.1 1.5% 20.8% • Delivered strong earnings for the quarter while improving our capital positions. Net Income, Adjusted 1,2 n/a n/a $ 19.3 n/a n/a • Achieved solid loan growth while buil
Slide 4: Net Interest Margin
Net Interest Margin Net Interest Income and Margin Change in Deposit Cost 1 80.0 4.50% 4.07% 4.11% 4.00% 4.00% 3.90% 60.0 4.00% 4.33% 4.33% 4.29% 3.90% 40.0 3.50% 3.64% $48.8 $49.5 $51.0 $50.5 $49.0 2.65% 20.0 3.00% 2.51% 2.49% 2.46% 2.41% - 2.50% 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q26 Ne
Slide 5: Fee Income
Fee Income Non-Interest Income Non-Interest Income Breakout 1 $ In Millions 24% $15.6 $13.4 $14.4 9% Wealth management $12.9 $11.6 1% Mortgage banking Interchange income 18% Service charges Income from life Insurance 1Q25 2Q25 3Q25 4Q25 1Q26 Swap fee income • Noninterest income increased by $1.2 mil
Slide 6: Non-Interest Expenses
Non-Interest Expenses Non-Interest Expenses Efficiency Ratio 1 $ In Millions 60.5% $38.2 $37.6 $37.4 58.7% 57.5% $36.3 $36.7 56.4% 56.9% 1Q25 2Q25 3Q25 4Q25 1Q26 • Non-interest expenses declined by $0.7 million quarter-over-quarter, totaling $36.7 million for the three months ended March 31, 2026. o
Slide 7: Credit Quality
Credit Quality Charge-offs & Non-Performing Loans 0.56% • The allowance for credit losses ("ACL") on loans totaled 0.51% 0.42% 0.42% 0.48% $47.5 million at March 31, 2026. o The ACL as a percentage of total loans ended the quarter at 1.17%. 0.05% 0.09% o The Bank recorded provision expense of $0.7 m
Slide 8: Earnings & Key Performance Metrics
Earnings & Key Performance Metrics Earnings 1 Tangible Common Equity and TCE/TA % $1.00 $1.04 $1.13 $1.11 $1.12 50.00 8.8% 9.0% 9.2% $600 7.9% 8.3% 9.9% 40.00 $0.75 8.7% $0.30 $500 $0.26 $0.26 $0.27 $0.27 $505 7.5% $0.25 $470 $492 30.00 $429 $445 $400 6.3% 5.1% $300 20.00 ($0.25) 3.9% $20.2 $21.9 $2
Slide 9: Loans
Loans Trend 1 Composition 2 $ In Millions Non-owner $3,876 $3,931 $3,980 $4,021 $4,061 occupied CRE Owner 33% $785 $824 $834 $848 $856 occupied CRE 16% Agricultural $3,091 $3,108 $3,146 $3,173 $3,205 Yield on 3% Acquisition & Loans: Multi-family development 5% 6% 6.29% 3 1Q25 2Q25 3Q25 4Q25 1Q26 Non
Slide 10: Deposits
Deposits Trend 1 Composition 2 $ In Millions Interest DDA $4,634 $4,517 $4,534 $4,529 $4,627 27% $945 $887 $924 $902 $911 Non-Interest $3,688 $3,629 $3,610 $3,627 $3,717 DDA Cost of 19% Deposits: 1Q25 2Q25 3Q25 4Q25 1Q26 1.96% 3 Money Markets Core Deposits Time Deposits 29% • Deposits increased by $
Slide 11: Investments
Investments Portfolio Metrics Composition 3 Total Portfolio (FV) $947.0MM Agency CMO % of Assets 17.0% 37% Agency MBS Duration 4.7 Years 32% Yield 4.51% AOCI (Tax Adj.) ($19.7MM) Other 2% Trends – Balances / AOCI / Yields 1,2 ABS Municipal 8% 4.70% 4.67% 21% 4.65% 4.58% 4.51% • The investment portfo
Slide 12: Capital
Capital Total Risk Based Capital Ratio • Ratios remain sound and capital generation expectations are strong going forward. 13.1% 13.0% 13.3% 13.3% 13.1% 12.9% 13.3% 13.3% 13.5% 13.6% • All capital ratios applicable to the Company and Bank were above relevant regulatory minimum levels to be deemed "w
Slide 13: Guidance through 2026
Guidance through 2026 Loan 5.0% annualized growth Growth Margin Range: 3.90% to 4.00% Non-Interest Range: $53.0 million to $55.0 million (annualized) Income Non-Interest Expenses Range: $148.0 million to $151.0 million (annualized) Effective Approximately 21% Tax Rate 13
Slide 14: Q&A
Q&A ORRSTOWN FINANCIAL SERVICES, INC.
Slide 15: Reconciliation of Non-GAAP Measures to GAAP Results
Reconciliation of Non-GAAP Measures to GAAP Results As a result of acquisitions, the Company has intangible assets consisting of goodwill and core deposit and other intangible assets. Management believes providing certain “non-GAAP” financial information will assist investors in their understanding
Slide 16: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Net Income / Diluted EPS / Ratios 1Q25 2Q25 3Q25 4Q25 1Q26 (Presented In M illions except for Diluted EPS) Average Assets $ 5,425.7 $ 5,374.8 $ 5,420.8 $ 5,505.3 $ 5,548.8 Average Equity 523.7 535.7 551.9 578.9 599.3 Net Income (GAAP) $ 18.1 $ 19.4 $ 21.9 $ 21.5 $ 21.
Slide 17: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Efficiency Ratio (Non-GAAP) 1Q25 2Q25 3Q25 4Q25 1Q26 (Presented In M illions) Net Interest Income $ 48.8 $ 49.5 $ 51.0 $ 50.5 $ 49.0 Plus Non-Interest Income 11.6 12.9 13.4 14.4 15.6 Total Revenue (A) $ 60.4 $ 62.4 $ 64.4 $ 64.9 $ 64.6 Non-Interest Expense $ 38.2 $ 37
Slide 18: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Tangible Book Value (Non-GAAP) 1Q25 2Q25 3Q25 4Q25 1Q26 (Presented in M illions except for Tangible Book Value Per Share) Total Shareholders' Equity (GAAP) $ 532.9 $ 548.4 $ 571.9 $ 591.5 $ 603.2 Less Goodwill 68.1 69.8 69.8 69.8 69.8 Less Intangible Assets 45.2 42.7
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