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ORRSTOWN FINANCIAL SERVICES, INC. (PARENT COMPANY ONLY) FINANCIAL INFORMATION | 12 Months Ended
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Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
ORRSTOWN FINANCIAL SERVICES, INC. (PARENT COMPANY ONLY) FINANCIAL INFORMATION | ORRSTOWN FINANCIAL SERVICES, INC. (PARENT COMPANY ONLY) FINANCIAL INFORMATION The following are the condensed balance sheets, statements of income, statements 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) | 2015 |  | 2014
Assets |  |  |
Cash in Orrstown Bank | $ | 14,032 |  |  | $ | 389 |
Deposits with other banks | 321 |  |  | 0 |
Securities available for sale | 73 |  |  | 67 |
Investment in Orrstown Bank | 117,163 |  |  | 126,084 |
Other assets | 1,561 |  |  | 797 |
Total assets | $ | 133,150 |  |  | $ | 127,337 |
Liabilities | $ | 89 |  |  | $ | 72 |
Shareholders’ Equity |  |  |
Common stock | 435 |  |  | 430 |
Additional paid-in capital | 124,317 |  |  | 123,392 |
Retained earnings | 7,939 |  |  | 1,887 |
Accumulated other comprehensive income | 1,199 |  |  | 1,576 |
Treasury stock | (829 | ) |  | (20 | )
Total shareholders’ equity | 133,061 |  |  | 127,265 |
Total liabilities and shareholders’ equity | $ | 133,150 |  |  | $ | 127,337 |
Statements of Income
(Dollars in thousands) | 2015 |  | 2014 |  | 2013
Income |  |  |  |  |
Dividends from bank subsidiary | $ | 17,900 |  |  | $ | 0 |  |  | $ | 0 |
Other interest and dividend income | 3 |  |  | 2 |  |  | 5 |
Other income | 35 |  |  | 70 |  |  | 46 |
Total income | 17,938 |  |  | 72 |  |  | 51 |
Expenses |  |  |  |  |
Share-based compensation | 34 |  |  | 17 |  |  | 129 |
Management fee to Bank | 500 |  |  | 277 |  |  | 173 |
Other expenses | 1,821 |  |  | 1,042 |  |  | 1,241 |
Total expenses | 2,355 |  |  | 1,336 |  |  | 1,543 |
Income (loss) before income taxes and equity in undistributed income or distributions in excess of income of bank subsidiary | 15,583 |  |  | (1,264 | ) |  | (1,492 | )
Income tax benefit | (831 | ) |  | (474 | ) |  | (477 | )
Income (loss) before equity in undistributed income (distributions in excess of income) of bank subsidiary | 16,414 |  |  | (790 | ) |  | (1,015 | )
Equity in undistributed income (distributions in excess of income) of bank subsidiary | (8,540 | ) |  | 29,932 |  |  | 11,019 |
Net income | $ | 7,874 |  |  | $ | 29,142 |  |  | $ | 10,004 |
Statements of Comprehensive Income
(Dollars in thousands) | 2015 |  | 2014 |  | 2013
Income (loss) before equity in undistributed income of subsidiary | $ | 16,414 |  |  | $ | (790 | ) |  | $ | (1,015 | )
Unrealized holding gains (losses) on securities available for sale arising during the period, net of tax | 4 |  |  | (1 | ) |  | 0 |
Total other comprehensive income (loss) | 4 |  |  | (1 | ) |  | 0 |
Comprehensive income (loss) before equity in undistributed income and other comprehensive income of subsidiary | 16,418 |  |  | (791 | ) |  | (1,015 | )
Equity in undistributed income and other comprehensive income of subsidiary | (8,921 | ) |  | 36,322 |  |  | 4,378 |
Total comprehensive income | $ | 7,497 |  |  | $ | 35,531 |  |  | $ | 3,363 |
Statements of Cash Flows
(Dollars in thousands) | 2015 |  | 2014 |  | 2013
Cash flows from operating activities: |  |  |  |  |
Net income | $ | 7,874 |  |  | $ | 29,142 |  |  | $ | 10,004 |
Adjustments to reconcile net income to cash used in operating activities: |  |  |  |  |
Deferred income taxes | (53 | ) |  | (25 | ) |  | 0 |
Gains on affiliate dissolution | 0 |  |  | (54 | ) |  | 0 |
Equity in (undistributed income) distributions in excess of income of bank subsidiary | 8,540 |  |  | (29,932 | ) |  | (11,019 | )
Share-based compensation | 34 |  |  | 17 |  |  | 129 |
Net change in other liabilities | 17 |  |  | (26 | ) |  | 62 |
Other, net | (611 | ) |  | (270 | ) |  | (182 | )
Net cash provided by (used in) operating activities | 15,801 |  |  | (1,148 | ) |  | (1,006 | )
Cash flows from investing activities: |  |  |  |  |
Investment in bank subsidiary | 0 |  |  | (161 | ) |  | 0 |
Other | 0 |  |  | 89 |  |  | 0 |
Net cash used in investing activities | 0 |  |  | (72 | ) |  | 0 |
Cash flows from financing activities: |  |  |  |  |
Dividends paid | (1,822 | ) |  | 0 |  |  | 0 |
Proceeds from issuance of common stock | 794 |  |  | 105 |  |  | 253 |
Payments to repurchase common stock | (809 | ) |  | 0 |  |  | 0 |
Net cash provided by (used in) financing activities | (1,837 | ) |  | 105 |  |  | 253 |
Net increase (decrease) in cash | 13,964 |  |  | (1,115 | ) |  | (753 | )
Cash, beginning balance | 389 |  |  | 1,504 |  |  | 2,257 |
Cash, ending balance | $ | 14,353 |  |  | $ | 389 |  |  | $ | 1,504 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51664549&loc=d3e5283-111683 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
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