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ORRSTOWN FINANCIAL SERVICES, INC. (PARENT COMPANY ONLY) CONDENSED FINANCIAL INFORMATION | 12 Months Ended
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Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
ORRSTOWN FINANCIAL SERVICES, INC. (PARENT COMPANY ONLY) CONDENSED FINANCIAL INFORMATION | ORRSTOWN FINANCIAL SERVICES, INC. (PARENT COMPANY ONLY) CONDENSED FINANCIAL INFORMATION Condensed financial information at and for the years ended 12/31 follows: Condensed Balance Sheets
(Dollars in thousands) | 2016 |  | 2015
Assets |  |  |
Cash in Orrstown Bank | $ | 10,263 |  |  | $ | 14,032 |
Deposits with other banks | 307 |  |  | 321 |
Total cash | 10,570 |  |  | 14,353 |
Securities available for sale | 91 |  |  | 73 |
Investment in Orrstown Bank | 121,362 |  |  | 117,163 |
Other assets | 3,519 |  |  | 1,561 |
Total assets | $ | 135,542 |  |  | $ | 133,150 |
Liabilities | $ | 683 |  |  | $ | 89 |
Shareholders’ Equity |  |  |
Common stock | 437 |  |  | 435 |
Additional paid-in capital | 124,935 |  |  | 124,317 |
Retained earnings | 11,669 |  |  | 7,939 |
Accumulated other comprehensive income (loss) | (1,165 | ) |  | 1,199 |
Treasury stock | (1,017 | ) |  | (829 | )
Total shareholders’ equity | 134,859 |  |  | 133,061 |
Total liabilities and shareholders’ equity | $ | 135,542 |  |  | $ | 133,150 |
Condensed Statements of Income
(Dollars in thousands) | 2016 |  | 2015 |  | 2014
Income |  |  |  |  |
Dividends from subsidiaries | $ | 2,200 |  |  | $ | 17,900 |  |  | $ | 0 |
Other interest and dividend income | 38 |  |  | 3 |  |  | 2 |
Other income | 62 |  |  | 35 |  |  | 70 |
Total income | 2,300 |  |  | 17,938 |  |  | 72 |
Expenses |  |  |  |  |
Share-based compensation | 216 |  |  | 135 |  |  | 17 |
Management fee to Bank | 504 |  |  | 500 |  |  | 277 |
Other expenses | 2,152 |  |  | 1,720 |  |  | 1,042 |
Total expenses | 2,872 |  |  | 2,355 |  |  | 1,336 |
Income (loss) before income taxes and equity in undistributed income or distributions in excess of income of subsidiaries | (572 | ) |  | 15,583 |  |  | (1,264 | )
Income tax benefit | (606 | ) |  | (831 | ) |  | (474 | )
Income (loss) before equity in undistributed income (distributions in excess of income) of subsidiaries | 34 |  |  | 16,414 |  |  | (790 | )
Equity in undistributed income (distributions in excess of income) of subsidiaries | 6,594 |  |  | (8,540 | ) |  | 29,932 |
Net income | $ | 6,628 |  |  | $ | 7,874 |  |  | $ | 29,142 |
Condensed Statements of Cash Flows
(Dollars in thousands) | 2016 |  | 2015 |  | 2014
Cash flows from operating activities: |  |  |  |  |
Net income | $ | 6,628 |  |  | $ | 7,874 |  |  | $ | 29,142 |
Adjustments to reconcile net income to cash used in operating activities: |  |  |  |  |
Deferred income taxes | 4 |  |  | (53 | ) |  | (25 | )
Gains on affiliate dissolution | 0 |  |  | 0 |  |  | (54 | )
Equity in (undistributed income) distributions in excess of income of subsidiaries | (6,594 | ) |  | 8,540 |  |  | (29,932 | )
Share-based compensation | 216 |  |  | 135 |  |  | 17 |
Net change in other liabilities | (6 | ) |  | 17 |  |  | (26 | )
Other, net | (849 | ) |  | (712 | ) |  | (270 | )
Net cash provided by (used in) operating activities | (601 | ) |  | 15,801 |  |  | (1,148 | )
Cash flows from investing activities: |  |  |  |  |
Other, net | (500 | ) |  | 0 |  |  | (72 | )
Net cash used in investing activities | (500 | ) |  | 0 |  |  | (72 | )
Cash flows from financing activities: |  |  |  |  |
Dividends paid | (2,898 | ) |  | (1,822 | ) |  | 0 |
Proceeds from issuance of common stock | 847 |  |  | 794 |  |  | 105 |
Payments to repurchase common stock | (631 | ) |  | (809 | ) |  | 0 |
Net cash provided by (used in) financing activities | (2,682 | ) |  | (1,837 | ) |  | 105 |
Net increase (decrease) in cash | (3,783 | ) |  | 13,964 |  |  | (1,115 | )
Cash, beginning balance | 14,353 |  |  | 389 |  |  | 1,504 |
Cash, ending balance | $ | 10,570 |  |  | $ | 14,353 |  |  | $ | 389 |

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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 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: 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=68079674&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: 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 + Details
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