XML 45 R34.htm IDEA: XBRL DOCUMENT v3.19.2

FAIR VALUE (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Summary of Assets Measured at Fair Value on Recurring Basis

The following table summarizes assets measured at fair value on a recurring basis at June 30, 2019 and December 31, 2018.

(Dollars in Thousands)			Level 1						Level 2						Level 3						Total Fair Value Measurements
June 30, 2019
AFS Securities:
States and political subdivisions			$	0					$	102,110					$	0					$	102,110
GSE residential CMOs			0						72,421						0						72,421
Private label commercial CMOs			0						87,098						7,330						94,428
Asset-backed and other			0						227,971						0						227,971
Totals			$	0					$	489,600					$	7,330					$	496,930
December 31, 2018
AFS Securities:
States and political subdivisions			$	0					$	145,004					$	0					$	145,004
GSE residential CMOs			0						108,064						0						108,064
Private label residential CMOs			0						143						0						143
Private label commercial CMOs			0						67,836						7,209						75,045
Asset-backed and other			0						137,588						0						137,588
Totals			$	0					$	458,635					$	7,209					$	465,844

Schedule of Changes in Fair Value of Impaired Loans

The following table presents changes in the fair value for impaired loans still held at June 30, considered in the determination of the provision for loan losses, for the three and six months ended June 30, 2019 and 2018.

			Three months ended June 30,																		Six months ended June 30,
(Dollars in thousands)			2019						2018						2019						2018
Changes in fair value of impaired loans still held			$	24					$	79					$	28					$	84

Summary of Assets Measured at Fair Value on Nonrecurring Basis

The following table summarizes assets measured at fair value on a nonrecurring basis at June 30, 2019 and December 31, 2018.

(Dollars in thousands)			Level 1						Level 2						Level 3						Total Fair Value Measurements
June 30, 2019
Impaired Loans
Commercial real estate:
Owner occupied			$	0					$	0					$	1,004					$	1,004
Multi-family			0						0						114						114
Non-owner occupied residential			0						0						243						243
Commercial and industrial			0						0						11						11
Residential mortgage:
First lien			0						0						787						787
Home equity - lines of credit			0						0						335						335
Installment and other loans			0						0						8						8
Total impaired loans			$	0					$	0					$	2,502					$	2,502
December 31, 2018
Impaired Loans
Commercial real estate:
Owner occupied			$	0					$	0					$	1,087					$	1,087
Multi-family			0						0						131						131
Non-owner occupied residential			0						0						278						278
Commercial and industrial			0						0						25						25
Residential mortgage:
First lien			0						0						1,121						1,121
Home equity - lines of credit			0						0						409						409
Total impaired loans			$	0					$	0					$	3,051					$	3,051

Summary of Additional Qualitative Information

The following table presents additional qualitative information about assets measured on a nonrecurring basis and for which the Company has utilized Level 3 inputs to determine fair value.

(Dollars in thousands)

Fair Value Estimate

Valuation Techniques

Unobservable Input

Range

June 30, 2019

Impaired loans

$

2,502

Appraisal of collateral

Management adjustments on appraisals for property type and recent activity

5% - 25% discount

- Management adjustments for liquidation expenses

6% - 33% discount

December 31, 2018

Impaired loans

$

3,051

Appraisal of collateral

Management adjustments on appraisals for property type and recent activity

5% - 75% discount

- Management adjustments for liquidation expenses

6% - 20% discount

Financial Instruments at Estimated Fair Values

The following table presents carrying amounts and estimated fair values of the Company’s financial instruments at June 30, 2019 and December 31, 2018:

(Dollars in thousands)			Carrying Amount						Fair Value						Level 1						Level 2						Level 3
June 30, 2019
Financial Assets
Cash and due from banks			$	35,468					$	35,468					$	35,468					$	0					$	0
Interest-bearing deposits with banks			72,670						72,670						72,670						0						0
Federal Funds Sold			8,741						8,741						8,741						0						0
Restricted investments in bank stocks			10,105						n/a						n/a						n/a						n/a
AFS securities			496,930						496,930						0						489,600						7,330
Loans held for sale			7,152						7,344						0						7,344						0
Loans, net of allowance for loan losses			1,587,210						1,617,064						0						0						1,617,064
Accrued interest receivable			6,558						6,558						0						1,943						4,615
Financial Liabilities
Deposits			2,015,541						2,013,623						0						2,013,623						0
Short-term borrowings			9,373						9,373						0						9,373						0
Long-term debt			83,261						83,550						0						83,550						0
Subordinated notes			31,821						33,276						0						33,276						0
Accrued interest payable			1,979						1,979						0						1,979						0
Off-balance sheet instruments			0						0						0						0						0
December 31, 2018
Financial Assets
Cash and due from banks			$	26,156					$	26,156					$	26,156					$	0					$	0
Interest-bearing deposits with banks			45,664						45,664						45,664						0						0
Federal Funds Sold			16,995						16,995						16,995						0						0
Restricted investments in bank stocks			10,842						n/a						n/a						n/a						n/a
AFS securities			465,844						465,844						0						458,635						7,209
Loans held for sale			3,340						3,413						0						3,413						0
Loans, net of allowance for loan losses			1,233,643						1,229,645						0						0						1,229,645
Accrued interest receivable			5,927						5,927						0						2,853						3,074
Financial Liabilities
Deposits			1,558,756						1,555,912						0						1,555,912						0
Short-term borrowings			64,069						64,069						0						64,069						0
Long-term debt			83,450						82,951						0						82,951						0
Subordinated notes			31,859						31,256						0						31,256						0
Accrued interest payable			1,301						1,301						0						1,301						0
Off-balance sheet instruments			0						0						0						0						0

X

- Definition

Schedule of Changes in Fair Value of Impaired Loans [Table Text Block]

+ References

No definition available.

+ Details

Name:	orrf_ScheduleofChangesinFairValueofImpairedLoansTableTextBlock
Namespace Prefix:	orrf_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration