SHIPPENSBURG, Pa. (AP) _ Orrstown Financial Services Inc. (ORRF) on Tuesday reported fourth-quarter net income of $4.2 million.
The bank, based in Shippensburg, Pennsylvania, said it had earnings of 38 cents per share. Earnings, adjusted for non-recurring costs, were 45 cents per share.
The holding company for Orrstown Bank posted revenue of $31.1 million in the period. Its revenue net of interest expense was $25 million, surpassing Street forecasts.
For the year, the company reported profit of $16.9 million, or $1.61 per share. Revenue was reported as $97.8 million.
Orrstown shares have decreased almost 3% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $22, a climb of 14% in the last 12 months.