XML 35 R25.htm IDEA: XBRL DOCUMENT
v3.19.3

MERGERS AND ACQUISITIONS (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2019
Business Combinations [Abstract] |
Summary of consideration Paid and Estimated Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the consideration paid for Hamilton and the estimated fair values of the assets acquired and liabilities assumed recognized at the acquisition date:
(Dollars in thousands) |  |
Fair value of consideration transferred: |  |
Cash |  | $ | 14,197 |
Common stock issued |  | 36,622 |
Total consideration transferred |  | $ | 50,819 |
Estimated fair values of assets acquired and (liabilities) assumed: |  |
Cash and cash equivalents |  | $ | 43,140 |
Securities available for sale |  | 60,882 |
Restricted investments in bank stocks |  | 2,658 |
Loans |  | 347,361 |
Premises and equipment |  | 3,749 |
Core deposit intangible |  | 4,550 |
Goodwill |  | 7,333 |
Cash surrender value of life insurance |  | 17,948 |
Deferred tax asset, net |  | 5,838 |
ROU lease asset |  | 2,793 |
Other assets |  | 3,925 |
Total assets acquired |  | 500,177 |
Deposits |  | (388,246) |
Borrowings |  | (51,393) |
Other liabilities |  | (9,719) |
Total liabilities assumed |  | (449,358) |
|  | $ | 50,819 |
Schedule of Performing and PCI Loans Acquired, by Loan Class | The following table presents performing and PCI loans acquired, by loan class, at May 1, 2019. Upon completion of the acquisition, the Company sold the acquired investment portfolio and paid off acquired borrowings at the indicated fair value amounts in conjunction with its asset/liability management strategies.
(in thousands) | Performing |  | PCI |  | Total
Commercial real estate: |  |  |  |  |
Owner-occupied | $ | 42,148 |  |  | $ | 6,324 |  |  | $ | 48,472 |
Non-owner occupied | 45,401 |  |  | 770 |  |  | 46,171 |
Multi-family | 10,773 |  |  | 0 |  |  | 10,773 |
Acquisition and development: |  |  |  |  |
1-4 family residential construction | 7,450 |  |  | 0 |  |  | 7,450 |
Commercial and land development | 4,528 |  |  | 0 |  |  | 4,528 |
Commercial and industrial | 32,316 |  |  | 1,702 |  |  | 34,018 |
Residential mortgage: |  |  |  |  |
First lien | 152,657 |  |  | 10,494 |  |  | 163,151 |
Home-equity - term | 4,478 |  |  | 1 |  |  | 4,479 |
Home equity - lines of credit | 13,657 |  |  | 0 |  |  | 13,657 |
Installment and other loans | 14,467 |  |  | 195 |  |  | 14,662 |
Total loans acquired | $ | 327,875 |  |  | $ | 19,486 |  |  | $ | 347,361 |
Schedule of Fair Value Adjustments Made to Amortized Costs Basis of Loans Acquired | The following table presents the fair value adjustments made to the amortized cost basis of loans acquired at May 1, 2019.
(in thousands) |
Gross amortized cost basis at acquisition | $ | 362,125 |
Market rate adjustment | (5,309) |
Credit fair value adjustment on non-credit impaired loans | (3,947) |
Credit fair value adjustment on PCI loans | (5,508) |
Estimated fair value of acquired loans | $ | 347,361 |
Schedule of Information About Acquired PCI Loans | The following table provides information about acquired PCI loans at May 1, 2019.
(in thousands) |
Contractually required principal and interest at acquisition | $ | 31,599 |
Nonaccretable difference | (8,616) |
Expected cash flows at acquisition | 22,983 |
Accretable yield | (3,497) |
Estimated fair value of acquired PCI loans | $ | 19,486 |

X
- Definition Schedule Of Business Acquisition, Loans Acquired, Fair Value Adjustments To Amortized Costs Basis + References No definition available. + Details
Name: | orrf_ScheduleOfBusinessAcquisitionLoansAcquiredFairValueAdjustmentsToAmortizedCostsBasisTableTextBlock
Namespace Prefix: | orrf_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Business Acquisitions, Loans Acquired, By Acquisition + References No definition available. + Details
Name: | orrf_ScheduleOfBusinessAcquisitionsLoansAcquiredByAcquisitionTableTextBlock
Namespace Prefix: | orrf_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule Of Information About Purchased Credit Impaired Loans + References No definition available. + Details
Name: | orrf_ScheduleOfInformationAboutPurchasedCreditImpairedLoansTableTextBlock
Namespace Prefix: | orrf_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration