Orrstown Financial Services Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported net interest income of $8,471,000 against $11,584,000 a year ago. Net interest income after provision for loan losses was $7,471,000 against net loss income after provision for loan losses of $14,666,000 a year ago. Income before income tax was $2,035,000 against loss before income tax of $37,773,000 a year ago. Net income was $1,030,000 against net loss of $29,481,000 a year ago. Basic and diluted earnings per share were $0.13 against basic and diluted loss per share of $3.66 a year ago. Return on average assets was 0.33% against negative return on average assets of 7.89% a year ago. Return on average equity was 4.69% against negative return on average equity of 75.94% a year ago.

For the year, the company reported net interest income of $37,888,000 against $49,607,000 a year ago. Net interest loss after provision for loan losses was $10,412,000 against $8,968,000 a year ago. Loss before income tax was $30,499,000 against $42,827,000 a year ago. Net loss was $38,454,000 against $31,964,000 a year ago. Basic and diluted loss per share was $4.77 against $3.98 a year ago. The decline in net interest income is a result of both a decline in the average interest rate earned as well as a decrease in the volume of interest earning assets. Negative return on average assets was 2.84% against 2.11% a year ago. Negative return on average equity was 35.22% against 20.33% a year ago.