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Orrstown, Susquehanna banks report quarterly results

By - Last modified: April 25, 2013 at 12:03 PM

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Two midstate bank holding companies have reported results for the first fiscal quarter of 2013.

Orrstown Financial Services Inc., the parent company of Orrstown Bank, reported net income of $1.6 million, or 19 cents per diluted share, compared with a loss of $8.2 million, or $1.02 per diluted share, in the first quarter of 2012.

It was the bank’s second consecutive profitable quarter following a year in which Orrstown overhauled its management and worked on improving asset quality. The result exceeded analysts’ expectations of 13 cents per diluted share, according to Yahoo Finance.

Orrstown is based in Shippensburg. Its shares trade on the Nasdaq under the ticker symbol ORRF.

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Susquehanna Bancshares Inc. reported net income of $42.4 million, or 23 cents per diluted share, compared with net income of $23.5 million, or 14 cents per diluted share, in the first quarter of 2012.

The result matched analysts’ expectations, according to Yahoo Finance.

Susquehanna, based in Lititz, is the parent company of Susquehanna Bank. Its shares trade on the Nasdaq under the ticker symbol SUSQ.

Write to the Editorial Department at editorial@cpbj.com

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