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ORRSTOWN FINANCIAL SERVICES, INC. (PARENT COMPANY ONLY) FINANCIAL INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Balance Sheet | The following are the condensed balance sheets, statements of income, statement of comprehensive income (loss) and statements of cash flows for the parent company, as of or for the years ended December 31: Balance Sheet
(Dollars in thousands) | 2014 |  | 2013
Assets |  |  |
Cash in Orrstown Bank | $ | 389 |  |  | $ | 1,504 |
Securities available for sale | 67 |  |  | 69 |
Investment in Orrstown Bank | 126,084 |  |  | 89,601 |
Other assets | 797 |  |  | 369 |
Total assets | $ | 127,337 |  |  | $ | 91,543 |
Liabilities | $ | 72 |  |  | $ | 104 |
Shareholders’ Equity |  |  |
Common stock | 430 |  |  | 422 |
Additional paid-in capital | 123,392 |  |  | 123,105 |
Retained earnings | 1,887 |  |  | (27,255 | )
Accumulated other comprehensive income | 1,576 |  |  | (4,813 | )
Treasury stock | (20 | ) |  | (20 | )
Total shareholders’ equity | 127,265 |  |  | 91,439 |
Total liabilities and shareholders’ equity | $ | 127,337 |  |  | $ | 91,543 |
Statements of Operations | Statements of Operations
(Dollars in thousands) | 2014 |  | 2013 |  | 2012
Income |  |  |  |  |
Other interest and dividend income | $ | 2 |  |  | $ | 5 |  |  | $ | 28 |
Other income | 70 |  |  | 46 |  |  | 58 |
Gains (losses) on sale of securities | 0 |  |  | 0 |  |  | (101 | )
Total income (loss) | 72 |  |  | 51 |  |  | (15 | )
Expenses |  |  |  |  |
Share-based compensation | 17 |  |  | 129 |  |  | 23 |
Management fee to Bank | 277 |  |  | 173 |  |  | 34 |
Other expenses | 1,042 |  |  | 1,241 |  |  | 1,142 |
Total expenses | 1,336 |  |  | 1,543 |  |  | 1,199 |
Income (loss) before income taxes and equity (loss) in undistributed income (loss) of subsidiary | (1,264 | ) |  | (1,492 | ) |  | (1,214 | )
Income tax benefit | (474 | ) |  | (477 | ) |  | (247 | )
Income (loss) before equity in undistributed income (loss) of subsidiary | (790 | ) |  | (1,015 | ) |  | (967 | )
Equity in undistributed income (loss) of bank subsidiary | 29,932 |  |  | 11,019 |  |  | (37,487 | )
Net income (loss) | $ | 29,142 |  |  | $ | 10,004 |  |  | $ | (38,454 | )
Statements of Comprehensive Income (Loss) | Statements of Comprehensive Income (Loss)
(Dollars in thousands) | 2014 |  | 2013 |  | 2012
Income (loss) before equity in undistributed income (loss) of subsidiary | $ | (790 | ) |  | $ | (1,015 | ) |  | $ | (967 | )
Unrealized holding gains (losses) on securities available for sale arising during the period, net of tax | (1 | ) |  | 0 |  |  | 41 |
Reclassification adjustment for (gains) losses realized in net income (loss), net of tax | 0 |  |  | 0 |  |  | 66 |
Total other comprehensive income (loss) | (1 | ) |  | 0 |  |  | 107 |
Comprehensive income (loss) before equity in undistributed income (loss) and other comprehensive income of subsidiary | (791 | ) |  | (1,015 | ) |  | (860 | )
Equity in undistributed income (loss) and other comprehensive income of subsidiary | 36,322 |  |  | 4,378 |  |  | (39,855 | )
Total comprehensive income (loss) | $ | 35,531 |  |  | $ | 3,363 |  |  | $ | (40,715 | )
Statements of Cash Flows | Statements of Cash Flows
(Dollars in thousands) | 2014 |  | 2013 |  | 2012
Cash flows from operating activities: |  |  |  |  |
Net income (loss) | $ | 29,142 |  |  | $ | 10,004 |  |  | $ | (38,454 | )
Adjustments to reconcile net income (loss) to cash used in operating activities: |  |  |  |  |
Deferred income taxes | (25 | ) |  | 0 |  |  | 0 |
Gains on affiliate dissolution | (54 | ) |  | 0 |  |  | 0 |
Losses on sale of investment securities | 0 |  |  | 0 |  |  | 101 |
Equity in undistributed (income) loss of bank subsidiary | (29,932 | ) |  | (11,019 | ) |  | 37,487 |
Share-based compensation | 17 |  |  | 129 |  |  | 23 |
Net change in other liabilities | (26 | ) |  | 62 |  |  | 35 |
Other, net | (270 | ) |  | (182 | ) |  | 210 |
Net cash used in operating activities | (1,148 | ) |  | (1,006 | ) |  | (598 | )
Cash flows from investing activities: |  |  |  |  |
Sales of securities available for sale | 0 |  |  | 0 |  |  | 1,109 |
Maturities of available for sale securities | 0 |  |  | 0 |  |  | 1,895 |
Investment in bank subsidiary | (161 | ) |  | 0 |  |  | (4,000 | )
Other | 89 |  |  | 0 |  |  | 0 |
Net cash used in investing activities | (72 | ) |  | 0 |  |  | (996 | )
Cash flows from financing activities: |  |  |  |  |
Dividends paid | 0 |  |  | 0 |  |  | 0 |
Proceeds from issuance of common stock | 105 |  |  | 253 |  |  | 189 |
Net cash provided by financing activities | 105 |  |  | 253 |  |  | 189 |
Net decrease in cash | (1,115 | ) |  | (753 | ) |  | (1,405 | )
Cash, beginning balance | 1,504 |  |  | 2,257 |  |  | 3,662 |
Cash, ending balance | $ | 389 |  |  | $ | 1,504 |  |  | $ | 2,257 |

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