Tuesday, September 28, 2010

Douglas P. Barton Joins Orrstown Financial Services, Inc. as SVP, Chief Accounting Officer

Shippensburg, PA (9/28/2010) As a result of the continued growth of Orrstown Financial Services, Inc. (NASDAQ: ORRF), the Company is pleased to announce the selection of Douglas P. Barton to assume the role of Senior Vice President and Chief Accounting Officer. Mr. Barton brings to the organization over 24 years of experience in the financial services industry, including an impressive background in accounting and auditing. A certified public accountant, Mr. Barton spent several years with Ernst & Young LLC prior to joining Beard Miller Company LLP, where he held a number of positions of increasing responsibility within the organization. In 1999, Mr. Barton joined Sterling Financial Corporation where he served as Chief Accounting Officer of the formerly $2.8 billion multi-affiliate financial holding company. After six years with Sterling, Mr. Barton rejoined Beard Miller (and its successor ParenteBeard LLC) and was made partner in 2009.


Mr. Barton is a graduate cum laude from Shippensburg University and also holds a Masters of Business Administration degree from LaSalle University.


Thomas R. Quinn, Jr., President & CEO, commented, “Doug’s background and expertise uniquely qualify him for this role and we’re thrilled he has chosen to become a member of the Orrstown team.”


With over $1.3 billion in assets, Orrstown Financial Services, Inc. and its subsidiary, Orrstown Bank, provide a full range of consumer and business financial services through twenty-one banking offices and two remote service facilities located in Cumberland, Franklin and Perry Counties, Pennsylvania and Washington County, Maryland. Orrstown Financial Services, Inc.’s stock is traded on the NASDAQ Capital Market under the symbol ORRF.


Safe Harbor Statement: This news release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various risks, uncertainties and other factors. Such risks, uncertainties and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the following: ineffectiveness of the Company’s business strategy due to changes in current or future market conditions; the effects of competition, and of changes in laws and regulations, including industry consolidation and development of competing financial products and services; interest rate movements; changes in credit quality; volatilities in the securities markets; and deteriorating economic conditions, and other risks and uncertainties, including those detailed in Orrstown Financial Services, Inc.’s filings with the Securities and Exchange Commission. The statements are valid only as of the date hereof and Orrstown Financial Services, Inc. disclaims any obligation to update this information.


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Monday, September 27, 2010

Orrstown Financial Services, Inc. Announces Promotion of Bradley S. Everly to Executive Vice President

Shippensburg, PA (9/27/2010) As a result of the continued growth of Orrstown Financial Services, Inc. (NASDAQ: ORRF), the Company is pleased to announce the promotion of Bradley S. Everly to Executive Vice President. Along with his duties as Chief Financial Officer, Mr. Everly will assume increased responsibilities with regard to guiding the strategic growth of the Company, as well as leading the Company’s investor relations efforts.

Thomas R. Quinn, Jr., President & CEO, commented, “Brad’s experience during his 13 years at Orrstown, along with his prior history in the banking and accounting arenas, will be instrumental in taking Orrstown Bank to the next level.”

With over $1.3 billion in assets, Orrstown Financial Services, Inc. and its subsidiary, Orrstown Bank, provide a full range of consumer and business financial services through twenty-one banking offices and two remote service facilities located in Cumberland, Franklin and Perry Counties, Pennsylvania and Washington County, Maryland. Orrstown Financial Services, Inc.’s stock is traded on the NASDAQ Capital Market under the symbol ORRF.

Safe Harbor Statement: This news release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various risks, uncertainties and other factors. Such risks, uncertainties and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the following: ineffectiveness of the Company’s business strategy due to changes in current or future market conditions; the effects of competition, and of changes in laws and regulations, including industry consolidation and development of competing financial products and services; interest rate movements; changes in credit quality; volatilities in the securities markets; and deteriorating economic conditions, and other risks and uncertainties, including those detailed in Orrstown Financial Services, Inc.’s filings with the Securities and Exchange Commission. The statements are valid only as of the date hereof and Orrstown Financial Services, Inc. disclaims any obligation to update this information.

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Orrstown Financial Services, Inc. Announces Extension of Stock Repurchase Plan

Shippensburg, PA (September 27, 2010) - The Board of Directors of Orrstown Financial Services, Inc. (NASDAQ: ORRF), the parent company of Orrstown Bank, has announced the approval of the extension of a program to repurchase shares of its own stock from time to time as conditions allow. Orrstown’s Board of Directors previously approved the program in 2006 to repurchase up to 150,000 shares of its stock. To date, the Company has repurchased 106,999 shares pursuant to the program. The Board of Directors has approved extending the plan to authorize the repurchase of up to an additional 150,000 shares, or 1.9 percent of the approximately 7.97 million shares outstanding, which number includes the 43,001 shares remaining to be repurchased under the program as initially approved.


Thomas R. Quinn, Jr., President and Chief Executive Officer, stated that any repurchased shares would be used for various corporate purposes as well as capital management.


With over $1.3 billion in assets, Orrstown Financial Services, Inc. and its subsidiary, Orrstown Bank, provide a full range of consumer and business financial services through twenty one banking offices and two remote service facilities located in Cumberland, Franklin and Perry Counties, Pennsylvania and Washington County, Maryland. Orrstown Financial Services, Inc.’s stock is traded on the NASDAQ Capital Market under the symbol ORRF.


Safe Harbor Statement: This news release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially form those set forth in such statements due to various risks, uncertainties and other factors. Such risks, uncertainties and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the following: ineffectiveness of the Company’s business strategy due to changes in current and future market conditions; the effect of competition, and of changes in law and regulations, including industry consolidation and development of competing financial products and services; interest rate movements; changes in credit quality; volatilities in the securities markets; and deteriorating economic conditions, and other risks and uncertainties, including those detailed in Orrstown Financial Services, Inc.’s filings with the Securities and Exchange Commission. The statements are valid only as of the date hereof and Orrstown Financial Services, Inc. disclaims any obligation to update this information.

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Friday, September 24, 2010

Orrstown Bank Volunteers with Habitat for Humanity!


Amy Strohm, Marketing Department
 Shippensburg, PA (September 24, 2010) – On September 23rd, ten Orrstown Bank (NASDAQ: ORRF) employees volunteered with Habitat for Humanity to help build a house in Shippensburg. A joint venture between the Franklin County and Cumberland Valley Habitat for Humanity offices, the duplex in Shippensburg will provide housing to two deserving families in our community.


Crystal Stine, Public Relations Officer for the Bank organized the volunteer day and commented: “It is a privilege to have the opportunity to partner with an outstanding organization like Habitat for Humanity. Orrstown Bank’s mission statement is we help customers realize their dreams, and it was extremely fulfilling for the Orrstown team to work alongside the construction professionals to help worthy families realize the dream of home ownership. “
Holly Sherman, HR and
Dale Morrow, Facilities


Habitat for Humanity International is a nonprofit, nondenominational Christian housing ministry. They welcome all people, regardless of religion, race or ethnicity, to build simple, decent, affordable houses in partnership with those who lack adequate shelter. Together, through volunteer labor and donations of money and materials, they have built or rehabilitated more than 350,000 houses, providing shelter for more than 1.75 million people in nearly 90 countries around the world. More information can be found on their website www.habitat.org.


With over $1.3 billion in assets, Orrstown Financial Services, Inc. and its subsidiary, Orrstown Bank, provide a full range of consumer and business financial services through twenty-one banking offices and two remote service facilities located in Cumberland, Franklin and Perry Counties, Pennsylvania and Washington County, Maryland. Orrstown Financial Services, Inc.’s stock is traded on the NASDAQ Capital Market under the symbol ORRF.

Orrstown Bank Welcomes Bev Rosenberry!

Shippensburg, PA (September 23, 2010) – Orrstown Bank welcomed Beverly Rosenberry to the Company on July 6th. Bev will serve as the Bank’s Branch Executive Officer at the King Street, Shippensburg office. Ms. Rosenberry brings over 30 years of banking experience to the position, having most recently been employed as a Branch Manager with M&T Bank.


Ms. Rosenberry is a graduate of Shippensburg Area Senior High School, the PBA Intermediate School of Banking, and the PBA Advanced School of Banking. She holds her PA Life and Disability and Series 6/63 Licenses. Actively involved in the community, Bev is a member of Messiah United Methodist Church and is the Treasurer for the Shippensburg United Way.


With over $1.3 billion in assets, Orrstown Financial Services, Inc. and its subsidiary, Orrstown Bank, provide a full range of consumer and business financial services through twenty-one banking offices and two remote service facilities located in Cumberland, Franklin and Perry Counties, Pennsylvania and Washington County, Maryland. Orrstown Financial Services, Inc.’s stock is traded on the NASDAQ Capital Market under the symbol ORRF.

Wednesday, September 22, 2010

Orrstown Bank and CCED Partner to Award Small Business First Loan

Shippensburg, PA (September 22, 2010) – Orrstown Bank (NASDAQ: ORRF) is pleased to announce the joint effort of the Bank and Cumberland County Economic Development (CCED) to award a $200,000 Small Business First (SBF) loan to John and Diane Stamy. This loan will allow the Stamy's to purchase a new farm and expand their agricultural business.

Orrstown Bank has been a longtime partner of CCED and was a lending partner in the very first lending program developed by CCED - Cumberland Business First. "Orrstown Bank continues to provide lots of small business financing through this challenging time and having CCED to partner with on Small Business First loans will help Orrstown do even more economic development deals in Cumberland County" said Jeff Gayman, Senior Vice President, Chief Commercial Officer of Orrstown Bank.

CCED’s mission is to be a catalyst for job creation; entrepreneurship; business attractions, retention, and expansion on behalf of the citizens of Cumberland County and South Central Pennsylvania. CCED became a certified Area Loan Organization (ALO) in January of 2010. As such, CCED became authorized by the Department of Community and Economic Development to process state backed economic development loans throughout Cumberland County, PA. Loan programs available to ALO's include among others Small Business First and the Community Economic Development program or CED.

"This loan symbolizes a milestone and represents a huge win for CCED and its supporters", said Omar Shute, Executive Director of CCED. "Our goal is to be the number one economic development lender in Cumberland County and we are on pace to accomplish that goal by the end of 2010. We continue to attract investment to Cumberland County, help create as well as retain jobs, and deliver results for citizens and businesses in Cumberland County and the region", concluded Shute.

With over $1.3 billion in assets, Orrstown Financial Services, Inc. and its subsidiary, Orrstown Bank, provide a full range of consumer and business financial services through twenty-one banking offices and two remote service facilities located in Cumberland, Franklin and Perry Counties, Pennsylvania and Washington County, Maryland. Orrstown Financial Services, Inc.’s stock is traded on the NASDAQ Capital Market under the symbol ORRF.

The Small Business First loan program provides low-interest financing for land and building acquisition, construction, machinery and equipment purchases, and working capital. Through Small Business First, CCED can provide loans for up to $200,000 and depending on the transaction rates can be fixed for as many as 15 years. To check for eligibility and for further information regarding Small Business First and other financing programs available through CCED, visit our website at www.cumberlandbusiness.com or contact Don Coffee at 717.240.7181 or at don@cumberlandbusiness.com.

Friday, September 17, 2010

Orrstown Bank Ranked 19th Fastest Growing Company by CPBJ

Shippensburg, PA (September 16, 2010) –
• 8th year as a Top 50 Fastest Growing Company

• Ranked 19th at this year’s ceremony

Orrstown Bank (NASDAQ: ORRF) Following record earnings in 2009, Orrstown Bank was selected as one of the Top 50 Fasting Growing Companies in Central Pennsylvania for the 8th time. This recognition follows the announcement earlier this summer by US Banker Magazine that Orrstown was named one of the top performing community banks in the nation for the 5th year in a row.

Orrstown Bank President and CEO Thomas R. Quinn, Jr., commented: “We are delighted to be named by the Central Penn Business Journal as one of the Top 50 Fastest Growing Companies again this year. Our record of consistent earnings and growth has resulted in our inclusion for the eighth time. Our continued success is a testament to the support and dedication of our Board of Directors, Executive Management Team, and nearly 300 employees.”

With over $1.3 billion in assets, Orrstown Financial Services, Inc. and its subsidiary, Orrstown Bank, provide a full range of consumer and business financial services through twenty-one banking offices and two remote service facilities located in Cumberland, Franklin and Perry Counties, Pennsylvania and Washington County, Maryland. Orrstown Financial Services, Inc.’s stock is traded on the NASDAQ Capital Market under the symbol ORRF.

In order to be eligible for nomination, companies were required to show revenue of at least $500,000 in each of the fiscal years ending 2007, 2008 & 2009 and show revenue growth for 2009, as compared to 2007. Eligible companies had to be for-profit entities (public or private) headquartered in Adams, Cumberland, Dauphin, Lancaster, Lebanon, Perry or York county.

Presenting sponsor, SF & Company, calculated the nominations and then ranked the companies according to revenue growth over the three-year period. Both dollar and percentage increases were taken into consideration. This ranking formula led to the recognition of the 2010 Top 50 Fastest Growing Companies, consisting of both large and small companies.

An event was held this morning at the Hilton Harrisburg to recognize the winners and announce their ranks. In addition to the awards breakfast, the Top 50 Fastest Growing Companies will be profiled in a special supplement to the October 1 issue of the Central Penn Business Journal, with a complete list of honorees published in ranked order, along with information on each company’s financial growth.

Top 50 Fastest Growing Companies is a program of the Central Penn Business Journal and is presented by SF&Company. Sponsors include: Citizens Bank; Highmark Blue Shield; Netrepid, Inc; POSG Commercial Interiors; Smilebuilderz and Wevodau Insurance & Benefits Strategies, Inc.