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ORRSTOWN FINANCIAL SERVICES, INC. (PARENT COMPANY ONLY) CONDENSED FINANCIAL INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract] |
Condensed Balance Sheets | Condensed Balance Sheets
| December 31, |  |
| 2019 |  | 2018
Assets |  |  |
Cash in Orrstown Bank | $ | 11,568 |  |  | $ | 28,596 |
Investment in Orrstown Bank | 242,041 |  |  | 175,299 |
Other assets | 1,724 |  |  | 2,057 |
Total assets | $ | 255,333 |  |  | $ | 205,952 |
Liabilities |  |  |
Subordinated notes | $ | 31,847 |  |  | $ | 31,859 |
Accrued interest and other liabilities | 237 |  |  | 660 |
Total liabilities | 32,084 |  |  | 32,519 |
Shareholders’ Equity |  |  |
Common stock | 584 |  |  | 491 |
Additional paid-in capital | 188,365 |  |  | 151,678 |
Retained earnings | 35,246 |  |  | 24,472 |
Accumulated other comprehensive loss | (480) |  |  | (2,972) |
Treasury stock | (466) |  |  | (236) |
Total shareholders’ equity | 223,249 |  |  | 173,433 |
Total liabilities and shareholders’ equity | $ | 255,333 |  |  | $ | 205,952 |
Condensed Statements of Income | Condensed Statements of Income
| For the Years Ended December 31, |  |  |  |
| 2019 |  | 2018 |  | 2017
Income |  |  |  |  |
Dividends from bank subsidiary | $ | 2,000 |  |  | $ | 4,450 |  |  | $ | — |
Interest income from bank subsidiary | 257 |  |  | 7 |  |  | 15 |
Other income | 55 |  |  | 102 |  |  | 61 |
Total income | 2,312 |  |  | 4,559 |  |  | 76 |
Expenses |  |  |  |  |
Interest on short-term borrowings | — |  |  | 57 |  |  | — |
Interest on subordinated notes | 1,987 |  |  | 73 |  |  | — |
Total interest expense | 1,987 |  |  | 130 |  |  | — |
Share-based compensation | 236 |  |  | 205 |  |  | 247 |
Management fee to bank subsidiary | 1,350 |  |  | 1,042 |  |  | 501 |
Merger related expenses | 1,574 |  |  | 1,545 |  |  | — |
Other expenses | 802 |  |  | 656 |  |  | 1,116 |
Total expenses | 5,949 |  |  | 3,578 |  |  | 1,864 |
(Loss) income before income tax benefit and equity in undistributed income of subsidiaries | (3,637) |  |  | 981 |  |  | (1,788) |
Income tax benefit | (1,182) |  |  | (735) |  |  | (596) |
(Loss) income before equity in undistributed income of subsidiaries | (2,455) |  |  | 1,716 |  |  | (1,192) |
Equity in undistributed income of subsidiaries | 19,379 |  |  | 11,089 |  |  | 9,282 |
Net income | $ | 16,924 |  |  | $ | 12,805 |  |  | $ | 8,090 |
Condensed Statements of Cash Flows | Condensed Statements of Cash Flows
| For the Years Ended December 31, |  |  |  |
| 2019 |  | 2018 |  | 2017
Cash flows from operating activities: |  |  |  |  |
Net income | $ | 16,924 |  |  | $ | 12,805 |  |  | $ | 8,090 |
Adjustments to reconcile net income to cash provided by (used in) operating activities: |  |  |  |  |
Amortization | 47 |  |  | 3 |  |  | — |
Deferred income taxes | 16 |  |  | 22 |  |  | 16 |
Equity in undistributed income of subsidiaries | (19,379) |  |  | (11,089) |  |  | (9,282) |
Share-based compensation | 236 |  |  | 205 |  |  | 247 |
Net change in other liabilities | (423) |  |  | 12 |  |  | (35) |
Net change in other assets | 311 |  |  | 2,039 |  |  | (377) |
Net cash (used in) provided by operating activities | (2,268) |  |  | 3,997 |  |  | (1,341) |
Cash flows from investing activities: |  |  |  |  |
Capital contributed to subsidiaries | (100) |  |  | — |  |  | (6,100) |
Net cash paid for acquisitions | (8,142) |  |  | (4,597) |  |  | — |
Net cash used in investing activities | (8,242) |  |  | (4,597) |  |  | (6,100) |
Cash flows from financing activities: |  |  |  |  |
Dividends paid | (6,150) |  |  | (4,375) |  |  | (3,488) |
Proceeds from issuance of subordinated notes, net of costs | — |  |  | 31,857 |  |  | — |
Proceeds from issuance of common stock | 1,463 |  |  | 1,448 |  |  | 1,276 |
Payments to repurchase common stock | (1,772) |  |  | (651) |  |  | — |
Other, net | (59) |  |  | — |  |  | — |
Net cash (used in) provided by financing activities | (6,518) |  |  | 28,279 |  |  | (2,212) |
Net (decrease) increase in cash | (17,028) |  |  | 27,679 |  |  | (9,653) |
Cash, beginning | 28,596 |  |  | 917 |  |  | 10,570 |
Cash, ending | $ | 11,568 |  |  | $ | 28,596 |  |  | $ | 917 |

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