Orrstown Bank Announces Promotions and New Hire

Jeffrey Gayman, Executive Vice President, Chief Commercial Officer is pleased to announce that Mindy Loftus  has been promoted to Vice President, Regional Senior Loan Officer. In her new role, Mindy will oversee commercial lending for the Carlisle and Shippensburg markets with responsibility for portfolio management, employee development and market growth.

Mindy joined Orrstown Bank in 2001 and throughout her career with Orrstown Bank she has successfully held positions of increasing responsibility including: Retail Lending Officer, Consumer Lending Officer, Commercial Relationship Manager, Commercial Loan Officer, AVP, Business Development Officer, and most recently VP, Business Development Officer.

Mr. Gayman commented, “Mindy has consistently demonstrated her ability to excel in increasingly more complex roles and her leadership will be invaluable as Orrstown Bank continues to grow in these core markets.”

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Brian Selders has been promoted to Vice President, Regional Senior Loan Officer for the Hagerstown and Chambersburg markets.  Brian joined Orrstown in April 2009 as Vice President, Business Development Officer and most recently served as Vice President, Regional Senior Loan Officer for the Hagerstown market. Prior to joining Orrstown Bank, Brian had extensive experience in commercial loan development and retail banking at Sovereign Bank and First United Bank. In his new role, Brian will be focused on employee development, quality control, and growth of the Bank’s southernmost markets.

Mr. Gayman commented, “Brian has shown incredible sales and managerial skills throughout his time at Orrstown Bank, and he is highly deserving of this promotion. Brian is a valuable asset to the organization and will do an excellent job developing the Bank’s commercial lending portfolio in the Chambersburg and Hagerstown regions as we move forward.”

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Bill Feist has been promoted to Vice President, Regional Senior Loan Officer for the for the West Shore, Perry County and Capital Region markets.  Bill joined Orrstown Bank in August 2009 as Vice President, Business Development Officer in the West Shore.  Prior to joining Orrstown Bank, Bill had extensive experience in commercial loan development and credit analysis with Susquehanna Bank, CommunityBanks, Mid Penn Bank and Dauphin Deposit Bank. In his new role, Bill will be focused on employee development, portfolio oversight, and market growth.  

Mr. Gayman commented, “Bill is highly deserving of this promotion and has demonstrated the skill set necessary to excel in his new role. Expansion of the markets Bill oversees is a high priority for the Bank going forward.”

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Michael Moore, Senior Vice President and Chief Credit Officer is pleased to announce that Timothy Berwager has joined Orrstown Bank as Vice President, Credit Officer. Tim will be based out of the Bank’s North Pointe Operations Center in Chambersburg, PA and will manage the Credit Administration Department. Tim brings more than 27 years of credit experience to the position.

A Dickinson College graduate, Tim has completed numerous RMA seminars and training related to Credit and Commercial Lending. Actively involved in the community, Tim is a member of Grace Bible Church in Manchester, MD as well as a member of the YAIAA Chapter of Baseball Umpires. Tim resides in Hanover, PA.

Paul Ritchie Named to CPBJ "40 Under 40" List

Shippensburg, PA – On Tuesday, October 18, Paul Ritchie will be honored as one of Central Penn Business Journal’s 2011 Forty Under 40 award recipients for his commitment to business growth, professional excellence and the community at an evening reception and awards program at Hilton Harrisburg from 6:00 to 9:00 p.m. This year marks the program’s 17^th anniversary.

Paul is currently Vice President and Investment Advisor Manager for Orrstown Financial Advisors. Based out of Orrstown Bank’s Orchard Drive, Chambersburg office, Paul leads the Orrstown Financial Advisor’s southern region team. Paul is actively involved in the community as Treasurer for both the Shippensburg Public Library and Hope Reformed Presbyterian Church. He is also Team Captain for Sports World Ministries and a teacher for Children’s Bible Mission.

This year’s nominations for the Forty Under 40 program ended in late April. A panel of four judges, comprised of past award recipients, reviewed and scored the nominees to determine the top forty list. 2011 judges were Tonia Ulsh, Chief Operating Officer, Mountz Jewelers; Deepa Mehta Balepur, Principal/Partner, The Wolman Group and RE/MAX Associates of Lancaster County; Brian Wassell, Partner with Trout Ebersole Groff; and Joshua George, Associate, Site Design Concepts.

Following the event, Paul and the other award recipients will be featured in a special supplement to the October 21^st edition of the Central Penn Business Journal. The list of winners will also appear in the 2012 Book of Lists publication.

The awards event is open to the public. Tickets can be purchased online for $90 per person at www.centralpennbusiness.com/events.

Sponsors of the 2011 Forty Under 40 program include Members 1^st Federal Credit Union, Comcast Business Class, Eastern University, Highmark Blue Shield, Hilton Harrisburg, Infiniti of Mechanicsburg, Netrepid and Classic Drycleaners & Laundromats.

With over $1.5 billion in assets, Orrstown Financial Services, Inc. and its wholly 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 quoted on the NASDAQ Capital Market under the symbol ORRF.

Orrstown Bank Celebrates Scholarship Recipients

Shippensburg, PA – Thomas R. Quinn, Jr., President & Chief Executive Officer of Orrstown Bank (NASDAQ: ORRF) is pleased to announce the 2011 recipients of the fifteen Orrstown Bank Foundation $1,000 scholarships and our second $1,500 Kenneth R. Shoemaker Leadership Scholarship. These young men and women were chosen for their academic achievement, test scores, service to school and community, leadership, potential, and financial need. Many of the students and their families joined Mr. Quinn and Mr. Ken Shoemaker, Orrstown Bank Foundation President, for a reception at the Bank’s King Street, Shippensburg office on July 28th.

Mr. Quinn commented, “The scholarship committee read through more than 75 applications this year before choosing these sixteen outstanding students to receive Orrstown Bank scholarships. We are proud to contribute to their continuing education and look forward to helping even more students achieve their dream of a college degree in the future.”

The 2011 Kenneth R. Shoemaker Leadership Scholarship Recipient:

Benjamin Shenk is this year’s recipient of the Kenneth R. Shoemaker Leadership Scholarship. A graduate of Shippensburg Area Senior High School, Ben will attend Shippensburg University in the fall.

“Ben is an outstanding young man and was the clear choice for the Leadership Scholarship. It is important for Orrstown Bank and the Foundation to support our future leaders, and I look forward to seeing the positive impact Ben and the rest of our scholarship recipients will have on our communities,” remarked Mr. Shoemaker.

The 2011 Orrstown Bank Foundation Scholarship Recipients:

§  Sarah Celona of Bible Baptist School will attend Appalachian Bible College.

§  Trinity High School graduate Jacob Coen will attend Providence College.

§  Daniel Combs, a graduate of Greencastle-Antrim High School, will attend Ohio State University.

§  Shippensburg Area Senior High School graduate Kara Dubbs will attend Pennsylvania State University.

§  Cassie Fernelius, a Shippensburg High School graduate, will attend Brigham Young University.

§  Carlisle High School graduate Taylor Frombaugh will attend Millersville University.

§  Joseph Kurtz, a Mechanicsburg Area Senior High School graduate, will attend Pennsylvania State University.

§  Cumberland Valley High School graduate Amisha Lala will attend Lebanon Valley College.

§  Sarah Loy, a Greenwood High School graduate, will attend Colgate University.

§  Allison Moyer, a graduate of Mechanicsburg Area Senior High School, will attend Columbia University.

§  Camp Hill High School graduate Elizabeth Nace will attend the University of Pennsylvania.

§  Adrian Paskey, a Boiling Springs High School graduate, will attend Pennsylvania State University.

§  Daniel Ridenour, Smithsburg High School graduate, will attend West Virginia University in the fall.

§  Newport High School student Victoria Harris will attend Indiana University of Pennsylvania.

§  Hannah Noss, also of Newport High School, will attend Pennsylvania State University

For more information about the Orrstown Bank Foundation, please contact Mr. Ken Shoemaker at 717.258.4920 or by email at kshoemaker@orrstown.com.

With over $1.5 billion in assets, Orrstown Financial Services, Inc. and its wholly 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 quoted on the NASDAQ Capital Market under the symbol ORRF.

Robert J. Russoli, CRPS Promoted to Senior Vice President, Chief Trust Officer of Orrstown Financial Advisors

Robert J. Russoli

Thomas R. Quinn, Jr., President and Chief Executive Officer, recently announced the promotion of Robert J. Russoli, CRPS to Senior Vice President, Chief Trust Officer. Bob has been employed with Orrstown Financial Advisors since 2004 and has most recently been responsible for trust and investment services in the Carlisle, West Shore, and Perry County regions of Orrstown Bank as the Northern Regional Manager.

Mr. Quinn commented: “Following the promotion of Barbara Brobst to Executive Vice President of Human Resources, it was clear that Bob was the right person to lead the Orrstown Financial Advisors Group. A two time recipient of FNIC’s Dual Representative of the Year award, Bob brings to the position a great deal of experience and a proven track record of success. Bob will add great value in his new role as leader of the trust and brokerage departments as we look to continue the expansion of Orrstown Financial Advisors.”

A graduate of Moravian College, Bob has successfully completed programs at the College for Financial Planning and Central Atlantic School of Trust, sponsored by the Pennsylvania Bankers Association. With more than 20 years of experience in the financial services industry, Bob is a Chartered Retirement Plans Specialist, as well as a licensed broker and an Investment Advisor Representative.

Orrstown Financial Advisors provides conservative, disciplined, and client-centered investment management services tailored to the goals and objectives of their clients. Clients include individuals, businesses, non-profit organizations and municipalities. Orrstown Financial Advisors manages over $978 million in combined trust and brokerage assets with a staff of more than 30 professionals. Securities and investment advisory services offered through Financial Network Investment Corporation, Member SPIC. Orrstown Financial Advisors and Financial Network are not affiliated.

With over $1.5 billion in assets, Orrstown Financial Services, Inc. and its wholly-owned 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 Financial Services, Inc. Announces Executive Level Promotions and Appointments

Thomas R. Quinn, Jr., President and Chief Executive Officer of Orrstown Financial Services, Inc. (NASDAQ: ORRF), parent company of Orrstown Bank, is pleased to announce the following Executive Management promotions and appointments:

Jeffrey W. Embly has been promoted to Chief Operating Officer. Jeff has over 19 years of banking experience, including 14 years with Orrstown Bank, and has served in many capacities during his career at the Bank, including most recently, Chief Credit Officer. Jeff’s leadership, business acumen, and in-depth understanding of the banking industry which he has gained as a result of overseeing a variety of business lines throughout his career have positioned him well for his new responsibilities. Most recently, Jeff led the Bank’s Credit Department through unprecedented times within our industry. In addition to serving on many committees within the Bank, Jeff will directly oversee the Bank’s operations, technology and credit departments.

Philip E. Fague has been promoted to the role of Senior Executive Vice President, responsible for the Bank’s retail, consumer, mortgage and trust lines of business. Philip has had a tremendous impact on the strategic growth of the organization, previously overseeing the trust and wealth management group and, most recently, built the Bank’s mortgage group into a highly productive and profitable stand alone business unit. In addition, Philip’s prior oversight of the retail branch business presents a unique opportunity to fully integrate consumer lines and leverage cross-selling efforts to increase our share of meeting our customers’ financial services needs, and helping them realize their dreams.

Barbara E. Brobst has been promoted to Executive Vice President in charge of Human Resources. Barb, who was recently named Business Person of the Year by the Shippensburg Chamber of Commerce, has developed the organization’s financial advisory group, Orrstown Financial Advisors, into a successful team that has been able to expand its asset growth and profitability under her leadership. Barb’s exceptional personnel skills and thorough understanding of the business will be of great value as we look to expand our Human Resources Department in critical areas such as compensation, training and recruitment. Orrstown Bank’s ongoing commitment to our employees is a key factor in our ability to grow the organization while continuing to produce peer leading results.

Jeffrey S. Gayman has been promoted to Executive Vice President, maintaining his responsibilities for the Bank’s commercial business unit. Jeff has demonstrated outstanding leadership by growing the Bank’s commercial loan portfolio, particularly during this prolonged period of industry contraction. Jeff offers tremendous expertise and guidance to the commercial team and is well positioned to take the business to even higher levels of success.

As a result of Jeff Embly’s promotion, Orrstown Bank has hired Michael Moore to serve as Senior Vice President, Chief Credit Officer. Mike comes to Orrstown Bank with a wealth of knowledge as a Credit professional. His 14 years of banking experience include management of a credit department with 12 credit analysts and a $1.7 billion dollar loan portfolio, portfolio management, commercial lending, managing a team of commercial lenders in the Harrisburg region, and most recently, Chief Credit and Risk Officer, at a community bank located in south-central Pennsylvania.

With the promotion of Barb Brobst to Executive Vice President of Human Resources, Bob Russoli will take on the role of Senior Vice President for Orrstown Financial Advisors. A two time recipient of Financial Network Investment Corporation’s Dual Representative of the Year award, Bob brings to the position a great deal of experience and a proven track record of success. Bob will add great value in his new role as leader of the trust and brokerage departments as Orrstown Bank looks to continue the expansion of Orrstown Financial Advisors.

Thomas R. Quinn, Jr., President and CEO commented: “Orrstown Bank has an exceptionally talented Executive Management Team, and each of these well-deserved promotions and organizational changes will lay the groundwork for the future growth of our organization. In addition, I welcome Mike Moore to the team to further strengthen our depth within the executive management ranks. I look forward to working with each of these leaders in their new roles.”

With over $1.5 billion in assets, Orrstown Financial Services, Inc. and its wholly-owned 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 Corporation's business strategy due to changes in current or future market conditions; the effects of competition, including industry consolidation and development of competing financial products and services; changes in laws and regulations, including the recent Dodd-Frank Wall Street Reform and Consumer Protection Act; 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.

Orrstown Bank Participates in "Teach Children to Save" Program

Throughout April and May, Orrstown Bank employees participated in the American Bankers Association’s Teach Children to Save program. Bank employees taught more than 1,000 elementary and middle school students throughout the region, promoting financial literacy and the importance of establishing good money management habits.

“Orrstown Bank is committed to the education of area students. While schools prepare students for real world success, Orrstown Bank focuses on helping young people develop skills for financial success,” commented Mark Bayer, Vice President and Director of Marketing.

The Teach Children to Save program uses lessons that bring together real life and classroom learning, incorporating hands-on scenarios and children’s experiences to help them understand the basic principles of using money wisely. Lessons explore saving, budgeting, prioritizing and more.

Teach Children to Save is a national campaign of volunteer bankers who since 1997 have helped young people develop lifelong savings habits. It includes an annual awareness day, Teach Children to Save Day; a video contest for teens, Lights, Camera, Save!; and the Teach Children to Save website: http://www.teachchildrentosave.com/.

Bayer continued, “In addition to our involvement with the Teach Children To Save program, the Orrstown Bank Foundation also helps prepare students for success through its scholarship program. Over the past five years more than 50 scholarships have been granted to matriculating high school seniors, and this year the program has been expanded and will provide 16 scholarships to high school seniors who are continuing their education.”

Orrstown Bank offers the following tips for money-savvy parents raising money-smart kids:

1. Set the example of a responsible money manager by paying bills on time, being a conscientious spender and an active saver. Children tend to emulate their parents’ personal finance habits.

2. Talk openly about money with your kids. Communicate your values and experiences with money. Encourage them to ask you questions, and be prepared to answer them – even the tough ones.

3. Explain the difference between needs and wants, the value of saving and budgeting and the consequences of not doing so.

4. Open a savings account at your local bank for your children and take them with you to make deposits, so they can learn how to be hands-on in their money management.

5. Give your kids positive feedback. As they get older, give them responsibility over how they spend their money.

With over $1.5 billion in assets, Orrstown Financial Services, Inc. and its wholly-owned 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 Rated One of the Top Performing Community Banks in the Nation for the 6th Year in a Row!

Orrstown Financial Services, Inc., (NASDAQ: ORRF) parent company of Orrstown Bank, was ranked the 38th best performing community bank in the country, according to US Banker magazine. The rankings are based on 3-year return on average equity (ROE) of banks with less than $2 billion in assets, and required at least a 7% 3-year ROE to be included on this year’s list. With a 3-year ROE of 12.30%, Orrstown Financial was the 4th highest ranked Pennsylvania bank on the list. Pennsylvania led all other states with 41 banks ranked in the top 200.

Thomas R. Quinn, Jr. President and CEO commented: “We are pleased to be recognized by US Banker magazine as a top performing bank for the 6th year in a row. Our improvement from the 39th highest performing bank in the nation in 2010, to 38th this year, is a testament to the hard work and support of our Board of Directors, Executive Management Team, and more than 300 dedicated team members. I would also like to acknowledge the support of our shareholders and customers throughout our 92 year history as a locally owned independent bank.”

With over $1.5 billion in assets, Orrstown Financial Services, Inc. and its wholly-owned 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.

Charlene Feuchtenberger Promoted to Assistant Vice President, Fiduciary Officer

Barbara Brobst, Senior Vice President & Senior Trust Officer of Orrstown Financial Advisors recently announced the promotion of Charlene Feuchtenberger to Assistant Vice President and Fiduciary Officer. Charlene has been with the Bank for 12 years and started her career as a Trust Administrative Assistant. She was promoted to Trust Operations Supervisor in 2003 and Trust Operations Officer in 2007. In 2009, she accepted the position of Fiduciary Officer and formed the Fiduciary Unit for Orrstown Financial Advisors.

Brobst commented: “Charlene is well deserving of this promotion. The Fiduciary Unit which Charlene manages is responsible for Trust and Estate administration as well as the tax function for the department including all Fiduciary, Estate and Inheritance taxes. In addition, she supervises the preparation of approximately 300 personal tax returns for our clients and serves as Orrstown Financial Advisors Compliance Officer. Charlene is an outstanding asset to the Orrstown Financial Advisors’ Team.”

Orrstown Financial Advisors provides conservative, disciplined, and client-centered investment management services tailored to the goals and objectives of their clients. Clients include individuals, businesses, non-profit organizations and municipalities. Orrstown Financial Advisors manages over $978 million in combined trust and brokerage assets with a staff of more than 30 professionals. Securities and investment advisory services offered through Financial Network Investment Corporation, Member SPIC. Orrstown Financial Advisors and Financial Network are not affiliated.

With over $1.5 billion in assets, Orrstown Financial Services, Inc. and its wholly-owned 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.

Brad Everly, Orrstown Bank CFO, to be Recognized for Achievements

Shippensburg, PA (May 16, 2011) Orrstown Financial Services, Inc. (NASDAQ: ORRF), parent company of Orrstown Bank, is pleased to announce that its Executive Vice President, Chief Financial Officer, Bradley Everly, has been named a finalist in the “Publically Traded Companies” category of the 2011 CFO of the Year Awards.

Commenting on Mr. Everly’s selection, Thomas R. Quinn, Jr., President and CEO of Orrstown Financial Services, Inc., noted, “Orrstown Bank is one of the best performing community banks in the nation and last year posted the highest earnings in its 91 year history. Brad’s insight, experience, and acumen have been instrumental in the success of the Company and we look forward to his acknowledgement as one of the four finalists on June 1st.”

This recognition program is the first of its kind in Central Pennsylvania, celebrating the financial executives whose work is vital to the success and stability of businesses and organizations, as well as the region’s overall economic growth. These new awards are presented by Stambaugh Ness and BDO; sponsored by M&T Bank, Wells Fargo Insurance Services, York College of Pennsylvania and Rutan Productions; and are a program of the Central Penn Business Journal.

In order to be eligible for nomination, individuals had to be the top executive responsible for a company’s/organization’s finances for at least two years and work in Adams, Cumberland, Dauphin, Lancaster, Lebanon, Perry or York County.

The nominations were reviewed by an independent panel of judges including: Daniel Betancourt and Jeff Druce of the Community First Fund; Robert A. Dolan from Conrad Siegel Actuaries; Jeffrey Masch with The Hershey Company; Tina Weyant from the World Trade Center of Central Pennsylvania; and Attorney Anne E. Zerbe of CGA Law Firm.

Everly and the other finalists will be publicly recognized at an awards event to be held on Wednesday, June 1, 2011, from 6:00 pm to 9:30 pm at York College of Pennsylvania. He will also be profiled in a special publication to be inserted in the June 10, 2011, issue of the Central Penn Business Journal.

For more information about the CFO of the Year program or to register to attend the awards reception, visit www.CentralPennBusiness.com/Events or contact Colleen Jones at ColleenJ@JournalPub.com or 717.236.4300.

With over $1.5 billion in assets, Orrstown Financial Services, Inc. and its wholly-owned 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 Wins Large Business of the Year Award

Orrstown Bank was honored to receive the “2010 Large Business of the Year” award at the Shippensburg Chamber of Commerce Annual Awards Banquet, held at the Chambersburg Country Club on April 16, 2011. The award was accepted by Philip Fague, Executive Vice President, Mortgage and Consumer Business.

Mark Bayer, Vice President and Director of Marketing commented: “As a locally-owned, independent community bank, it is an honor to be recognized by the Shippensburg chamber as the 2010 Large Business of the Year. Orrstown Bank is committed to the communities where we do business and last year our employees volunteered more than 21,800 hours to local organizations and contributed over $400,000 to worthy organizations throughout our market. 2010 was a year of record results for the Company, and we are pleased to continue to receive both national and local recognition for this achievement.”

With over $1.5 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 Employees Participate in Telethon

Orrstown Bank exclusively operated the phone panel at the 22nd annual Parent-Child Center telethon on Saturday, April 23rd at the Valley Mall in Hagerstown. Broadcast live by WHAG TV, the three hour event raised about $39,000 for the support of child abuse prevention, including a donation of $1000 from Orrstown Bank.

Orrstown Bank volunteers included: Jessica Middour, Mike Line, Ben Walters, Pol Heiney, Rebecca Harvey, Jignasa Thankey, Traci Akers, Brian Selders, Wendy Valentine, Terry Barbuzanes, Rachel Grimm, and Mary Ashe-Mahr. Mark Bayer, Vice President and Director of Marketing commented: “Orrstown Bank is proud to support the Parent Child Center telethon. We have, and will continue to be, committed to the communities where we live and work, and our employees dedicate countless volunteer hours to organizations throughout our market to help our customers, and communities, realize their dreams.”

With over $1.5 billion in assets, Orrstown Financial Services, Inc. and its wholly-owned 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.

Barb Brobst Wins Business Person of the Year Award

Orrstown Bank is pleased to announce that Barbara Brobst, Senior Vice President, Senior Trust Officer, was presented the “2010 Business Person of the Year” award on April 16, 2011 at the Shippensburg Chamber of Commerce Annual Awards Banquet .

Thomas R. Quinn, Jr., President and CEO of Orrstown Bank, commented, “Congratulations to Barb for her well deserved recognition. She manages an extremely successful wealth management team and is dedicated to ensuring all Orrstown Financial Advisor clients receive sound advice and superior service. Under her guidance, Orrstown Financial Advisors grew combined trust and brokerage assets by 25.6% in 2010 ending the year with $929,327,000 under management. I am honored to have Barb as part of the Orrstown team and applaud her contributions through both her work and volunteer efforts throughout the community.”

With over $1.5 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 Announces New Branch at Carlisle Fairgrounds to Provide Banking Services for Carlisle Events Car Shows

SHIPPENSBURG, PA (April 27, 2011) Orrstown Financial Services, Inc. (NASDAQ: ORRF), parent company of Orrstown Bank, is pleased to announce the opening of its newest seasonal branch office at the Carlisle Fairgrounds. This branch will provide banking services for Carlisle Events beginning April 27, 2011 with the first show of the season, Spring Carlisle.

Thomas R. Quinn, Jr., President & CEO, commented, “We are excited about our partnership with Bill Miller, Jr. and his team at Carlisle Events. The vendors and hundreds of thousands of attendees throughout the season have a tremendous economic impact on Carlisle and the surrounding area, and we are honored to work with an organization that is the preferred auto show destination for enthusiasts and collector car hobbyists worldwide. This is just one more way that Orrstown Bank delivers on its mission statement: We Help Customers Realize their Dreams.”

Bill Miller, Jr., Co-owner of Carlisle Events added, “Each and every year Carlisle Events looks for ways to enhance our guests’ experiences. This year we will be able to make car buying a very simple process. Carlisle Events and Orrstown Bank are teaming up to have a complete turnkey package to drive the car of your dreams home. Orrstown Bank will do on-the-spot-financing from their new branch located right on the fairgrounds in Building T. Title transfer and license plates will complete the transaction and the happy buyer will be on his way! Just need extra cash? Orrstown Bank will have cash advance services there, too.”

With over $1.5 billion in assets, Orrstown Financial Services, Inc. and its wholly-owned 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 Corporation's business strategy due to changes in current or future market conditions; the effects of competition, including industry consolidation and development of competing financial products and services; changes in laws and regulations, including the recent Dodd-Frank Wall Street Reform and Consumer Protection Act; 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. Recognized by SNL Financial

SHIPPENSBURG, PA (April 12, 2011) Orrstown Financial Services, Inc. (NASDAQ: ORRF), parent company of Orrstown Bank, is pleased to announce that it has been included on SNL Financial’s list of the top 100 best performing community banks of 2010. SNL ranked banks with between $500 million and $5 billion in assets by considering six equally weighted metrics, measuring: return on average tangible assets before tax, net charge-offs as a percent of average loans, adjusted nonperforming loans as a percent of total loans, operating expenses as a percent of operating revenue, net interest margin and loan growth.

Thomas R. Quinn, Jr., President and CEO of Orrstown Financial Services, Inc., commented, “Inclusion on SNL’s list of the top 100 community banks is a testament to the strength of our Company. This honor, along with our recent inclusion on Keefe Bruyette & Woods, Inc.’s Bank Honor Roll, acknowledges the consistently strong performance of the Company. We have regularly produced solid results and last year posted the highest earnings ever in the 91 year history of the organization. Results of this magnitude would not be possible without the support of our customers, employees, shareholders, and Board of Directors.”

With over $1.5 billion in assets, Orrstown Financial Services, Inc. and its wholly-owned subsidiary, Orrstown Bank, provide a full range of consumer and business financial services through twenty 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 Corporation's business strategy due to changes in current or future market conditions; the effects of competition, including industry consolidation and development of competing financial products and services; changes in laws and regulations, including the recent Dodd-Frank Wall Street Reform and Consumer Protection Act; 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.

Orrstown Financial Services, Inc. Recognized on KBW’s Bank Honor Roll

SHIPPENSBURG, PA (March 21, 2011) Orrstown Financial Services, Inc. (NASDAQ: ORRF), parent company of Orrstown Bank, is pleased to announce that it has been included on Keefe, Bruyette & Woods, Inc.’s (KBW) Bank Honor Roll. On March 1, 2011 KBW named 40 U.S. banking institutions to its "Bank Honor Roll" of superior performers, out of nearly 400 screened. According to their press release, Honor Roll winners are publicly traded banking companies with at least $500 million in total assets that meet the following three conditions:


• No annual loss reported in net income per share before extraordinary items over the past 10 years.

• 2010 annual reported net income per-share before extraordinary items must have been equal to or greater than peak net income per-share over the past 10 years.

• Consecutive increases in net income per-share before extraordinary items since 2009.

"We believe the past decade has provided an adequate framework for judging bank performance, particularly given all the obstacles that have arisen," noted KBW Chairman & CEO John Duffy, in KBW’s original press release announcing the winners of KBW’s Bank Honor Roll. "These banks have successfully navigated a variety of different and sometimes difficult operating environments, which have included everything from deteriorating credit quality to inverted yield curves and rising unemployment."

Thomas R. Quinn, Jr., President and CEO of Orrstown Financial Services, Inc., commented, “Inclusion on KBW’s Honor Roll is a testament to the strength of our organization. We have regularly produced solid results and last year posted the strongest earnings ever in the 91 year history of the organization. Consistent results of this magnitude would not be possible without the support of our customers, employees, shareholders, and Board of Directors.”

With over $1.5 billion in assets, Orrstown Financial Services, Inc. and its wholly-owned subsidiary, Orrstown Bank, provide a full range of consumer and business financial services through twenty 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 Corporation's business strategy due to changes in current or future market conditions; the effects of competition, including industry consolidation and development of competing financial products and services; changes in laws and regulations, including the recent Dodd-Frank Wall Street Reform and Consumer Protection Act; 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.

Orrstown Bank Employees Donate to CVAS

Shippensburg, PA (March 2, 2011) – Employees at the Orrstown Bank North Pointe Operations Center collected at least 80 items for the Cumberland Valley Animal Shelter (CVAS) in conjunction with their annual Groundhog Day celebration. Items collected ranged from cat collars, dog collars, pet toys, cans of pet food, trash bags, dish detergent, kitty litter and bags of dry food for cats and dogs. Norma Bigham, Director of Development for CVAS, accepted the donations.

Barb Thompson, Facilities Management Administrative Assistant commented: "CVAS provided us with a list of items needed and our employees came through! The shelter is now raising funds to move into their new "home" on Letterkenny Road, and our idea was that by supplying pet food and other needed items, we freed up more funds to help them reach their goal sooner."

With over $1.5 billion in assets, Orrstown Financial Services, Inc. and its subsidiary, Orrstown Bank, provide a full range of consumer and business financial services through twenty 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 Donates $15,000 to the Greater Chambersburg Chamber Foundation

Shippensburg, PA (February 17, 2011) – Orrstown Bank (NASDAQ: ORRF) believes in giving back to and supporting the communities in which we live and work. The Company has participated in the Pennsylvania Educational Improvement Tax Credit (EITC) program for more than five years, and gave a total of $124,000 to various local educational organizations in 2010. On February 15, 2011 Thomas R. Quinn, Jr., President and CEO of Orrstown Bank, was pleased to present Noel Purdy, Vice President of the Greater Chambersburg Chamber Foundation, with a $15,000 EITC donation.

Thomas R. Quinn, Jr., President & CEO of Orrstown Bank presents a check to
Noel Purdy, Vice President, Greater Chambersburg Chamber Foundation

Mr. Quinn commented: “We recognize that the young men and women we impact through the EITC program are our future. At Orrstown Bank, our commitment to our communities is one of the cornerstones of this organization, and we are honored to continue this tradition through our participation with the EITC program.”

With over $1.5 billion in assets, Orrstown Financial Services, Inc. and its subsidiary, Orrstown Bank, provide a full range of consumer and business financial services through twenty 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 Financial Advisors Wins Prestigious Awards!

Shippensburg, PA (2.16.11) Orrstown Financial Advisors is pleased to announce that Von Jaymes, Investment Advisor Representative, has been awarded the 2010 BAR Financial Dual Representative of the Year award. This achievement marks the fifth year that an Orrstown Financial Advisors team member has won the award. Previous recipients include Paul Ritchie, Phyllis Nye, and two-time winner Bob Russoli.

In addition to the Dual Rep of the Year award, Orrstown Financial Advisors were also honored with the 2010 Program of the Year award. Barb Brobst, Senior Vice President, Senior Trust Officer commented: “We are honored to receive these awards. They speak to the hard work and dedication of our entire team to provide the superior service that our clients have come to expect.” The Program of the Year award is given by the BAR Region of Financial Network, which represents 28 financial institutions with over 90 registered representatives. Criteria for the award include total sales, compliance, and customer service.

Orrstown Financial Advisors provides conservative, disciplined, and client-centered investment management services tailored to the goals and objectives of their clients. Clients include individuals, businesses, non-profit organizations and municipalities. Orrstown Financial Advisors manages over $900 million in combined trust and brokerage assets with a staff of more than 30 professionals. Securities and investment advisory services offered through Financial Network Investment Corporation, Member SPIC. Orrstown Financial Advisors and Financial Network are not affiliated.

With over $1.5 billion in assets, Orrstown Financial Services, Inc. and its subsidiary, Orrstown Bank, provide a full range of consumer and business financial services through twenty 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 Announces Promotions: Mindy Loftus & Matt Jones

Shippensburg, PA (2.4.11) Orrstown Bank (NASDAQ: ORRF) is pleased to announce that Mindy Loftus has been promoted to Vice President, Business Development Officer for the Bank’s Carlisle region. Mindy has been employed with the Bank since 2004.

Jeff Gayman, SVP and Chief Commercial Officer commented: “Mindy’s commitment and dedication to the organization and to our customers is outstanding, and her expertise continues to be an asset to our commercial lending team in the Carlisle area.”

Orrstown Bank (NASDAQ: ORRF) is also pleased to announce that Matt Jones has been promoted to Assistant Vice President, Business Development Officer for the Bank’s Shippensburg region.

Jeff Gayman, SVP and Chief Commercial Officer commented: “Matt has built a foundation of solid customer service in the Shippensburg region since joining the Company in 2002, and he is well deserving of the promotion to AVP, Business Development Officer.”

With over $1.5 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.

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Orrstown Bank Announces Promotion of Lauren Shutt, SVP/ERM Officer

SHIPPENSBURG, PA (February 10, 2011) Orrstown Financial Services, Inc. (NASDAQ: ORRF), parent company of Orrstown Bank, announced today the promotion of Lauren Shutt to Senior Vice President, Enterprise Risk Management Officer. As a result of her promotion, Ms. Shutt will also join the Executive Management Team of Orrstown Bank.

Thomas R. Quinn, Jr., President and CEO, commented: “Lauren is absolutely the right person to oversee our Enterprise Risk Group. Over the past several years our Company has seen remarkable results and experienced significant growth. We recently announced the highest earnings ever in the history of the organization and also reported that we surpassed the $1.5 billion asset mark for the year ending December 31, 2010. It is critical to ensure that our enterprise risk and compliance practices are consistent with the increased size and complexity of the Company, especially in light of changing regulations as a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act.”

Prior to joining Orrstown Bank, Ms. Shutt was the principal in Lauren-Jones, LLC, an internal audit services firm. She also spent 11 years as Audit Manager for a large regional internal audit services firm. Additionally, Ms. Shutt has 20 years of banking experience as Vice President, Chief Administrative Officer, Vice President, Finance, and Corporate Secretary of a $1.2 billion multi-bank holding company. Ms. Shutt is a Certified Risk Professional (CRP). She earned her Bachelor of Arts in Accounting from Wilson College, and is a graduate of the Central Atlantic School of Banking,

With over $1.5 billion in assets, Orrstown Financial Services, Inc. and its subsidiary, Orrstown Bank, provide a full range of consumer and business financial services through twenty 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 Corporation's business strategy due to changes in current or future market conditions; the effects of competition, including industry consolidation and development of competing financial products and services; changes in laws and regulations, including the recent Dodd-Frank Wall Street Reform and Consumer Protection Act; 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 4th Quarter Earnings

Orrstown Financial Services, Inc. Announces Record Quarterly Earnings, Increased First Quarter Dividend and Reduction in Risk Assets

SHIPPENSBURG, PA (January 27, 2011)
• Record earnings in 2010 of $16.6 million, a 24.0% improvement over 2009 results

• Assets climb to over $1.5 billion

• Record fourth quarter 2010 earnings, which increased 45.2% vs. fourth quarter 2009

• 10.0% reduction of risk assets in the fourth quarter 2010 compared to the prior quarter

• Nonperforming assets declined 32.2% since March 31, 2010

• Declaration of first quarter 2011 dividend of $0.23 per share, an increase of 4.6% over prior year


Orrstown Financial Services, Inc. (NASDAQ: ORRF) announced today that net income increased 45.2% to $4,375,000 for the quarter ended December 31, 2010, from $3,014,000 for the fourth quarter of 2009. Diluted earnings per share amounted to $0.55 for the quarter ended December 31, 2010, as compared to $0.46 for the corresponding prior year period. The Company also announced that its Board of Directors declared a first quarter cash dividend of $0.23 per share, an increase of 4.6% over the first quarter of 2010, for shareholders of record on February 11, 2011. The dividend will be paid on February 23, 2011.

Commenting on the Company’s results, Thomas R. Quinn, Jr., President and CEO, said, “Our performance in 2010 resulted in the best earnings (net income up 24%) ever in the 91-year history of the organization.”


“Of course 2010 was a challenging year for all community banks, but we nevertheless produced strong results which will be substantially above local peer levels once the year-end results are compiled. Additionally, we bolstered our reserves, added meaningfully to capital and were intensively focused on asset quality, which we believe remains quite solid.”

“While we cannot forecast what the national and regional economic conditions will be, we are cautiously optimistic that our strategies and the execution of our underlying business plan will deliver consistent ongoing returns for our shareholders. We have dedicated people, an experienced senior management team and a very engaged Board of Directors that know our market, recognize our Company’s competitive strengths and understand how to differentiate ourselves to our customers. We look forward to the year ahead and believe we will continue to compete well within our region”, Quinn concluded.

Results of Quarterly Operations

Net interest income for the quarter ended December 31, 2010 increased to $12,270,000 as compared to $10,257,000 in the same prior year period. The net interest margin decreased to 3.60% for the three months ended December 31, 2010, a reduction of ten basis points versus the same quarter in 2009. The Company continues to lower its cost of funds as evidenced by a decrease of 42 basis points to 0.86% for the three months ended December 31, 2010, as compared to 1.28% in the same prior year period. Average interest-earning assets increased by $315 million for the three months ended December 31, 2010, as compared to the same prior year period.

Other income increased to $5,536,000 for the three months ended December 31, 2010, as compared to $5,087,000 in the same prior year period. Noninterest income generation increased across all business lines, including Orrstown Financial Advisors, mortgage origination and deposit based fees. Operating expenses amounted to $10,450,000 for the three months ended December 31, 2010, as compared to $8,045,000 for the corresponding prior year period.

Results of Year-to-Date Operations
Net income totaled $16,581,000 for the year ended December 31, 2010, an increase of $3,208,000, or 24.0%, over 2009’s results. Diluted earnings per share totaled $2.17 for the year ended December 31, 2010, compared to $2.07 in 2009, an increase of 4.8%, despite the issuance of over 1.5 million shares during 2010.

Net interest income for the twelve months ended December 31, 2010, increased to $45,735,000 as compared to $36,570,000 in the same prior year period, reflecting a higher net interest margin on a year-to-date basis and higher levels of interest-earnings assets. The net interest margin increased to 3.72% for the twelve months ended December 31, 2010, a gain of six basis points versus the same period in 2009. The yield on interest-earning assets decreased to 4.71%, as compared to 5.26% in the prior year period. Year to date, the cost of funds decreased to 0.98% for the twelve months ended December 31, 2010, as compared to 1.60% in the same prior year period. Average interest-earning assets increased by $247 million for the twelve months ended December 31, 2010, as compared to the same prior year period.

The provision for loan losses increased to $8,925,000 for the twelve months ended December 31, 2010, as compared to $4,865,000 for the corresponding prior year period.

Other income increased to $23,793,000 for the twelve months ended December 31, 2010, as compared to $17,685,000 in the same prior year period. This includes an increase in securities gains from $1,661,000 through December 31, 2009, to $3,636,000 through December 31, 2010. Operating expenses amounted to $37,552,000 for the twelve months ended December 31, 2010, as compared to $31,967,000 for the corresponding prior year period.

Operating expense levels are often measured in the financial services industry by the efficiency ratio, which expresses non-interest expense, as a percentage of tax-equivalent net interest income and noninterest income. Despite an increase in other expenses primarily related to the growth experienced in all business lines, including Orrstown Financial Advisors, mortgage origination, and retail, the Company was able to improve on its efficiency ratio, which was 54.9% for the year ended December 31, 2010, compared to 58.9% in 2009.

Financial Condition

Assets grew $316 million to $1.512 billion at December 31, 2010, up from $1.196 billion at December 31, 2009. Securities available for sale have increased $235.5 million, or 120.0%, since December 31, 2009. Deposits increased to $1.188 billion at December 31, 2010, from $915 million at December 31, 2009. Stockholders’ equity increased to $160.5 million at December 31, 2010, as compared to $110.9 million at December 31, 2009, boosted by the completion of a common stock offering, in March 2010, that netted approximately $37.6 million in additional capital.

Asset Quality
Improvement was made in asset quality through the reduction in the levels of non-accrual loans, loans past due 90 or more days and still accruing, other real estate owned and total delinquencies. The Company's non-accrual loans totaled $13.9 million at December 31, 2010, down $9.1 million, or 39.6%, from the high of $23.0 million at March 31, 2010. The Company continues to be diligent in its handling of nonperforming and other risk assets and has been able to reduce the level of risk assets from a high of $32.8 million at March 31, 2010, to $18.5 million as of December 31, 2010. Two large credits, totaling $7.6 million, have been worked off the books since March 2010, which resulted in a $2.0 million charge off in the second quarter. Although the Company’s ratio of total risk assets to total assets increased from 0.96% at December 31, 2009, to 1.22% at December 31, 2010, similar increases have been noted across the financial services industry and within our peer group. The Company’s allowance for loan losses covered its nonperforming loans and stood at 106% at December 31, 2010.
 
With over $1.5 billion in assets, Orrstown Financial Services, Inc. and its subsidiary, Orrstown Bank, provide a full range of consumer and business financial services through twenty 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 Corporation's business strategy due to changes in current or future market conditions; the effects of competition, including industry consolidation and development of competing financial products and services; changes in laws and regulations, including the recent Dodd-Frank Wall Street Reform and Consumer Protection Act; 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.

The review period for subsequent events extends up to and including the filing date of a public company’s financial statements, when filed with the Securities and Exchange Commission. Accordingly, the consolidated financial information presented in this announcement is subject to change.

Visit http://www.orrstown.com/ to view the complete release.

Orrstown Bank Supports The United Way

Shippensburg, PA (1/21/2011) — On January 12, 2011 Thomas R. Quinn, Jr., President and CEO of Orrstown Bank presented members of the Shippensburg United Way Board with a check representing the Bank’s $6,000 donation to the organization. In addition to last week’s donation, Orrstown Bank employees contributed $31,000 to the United Way in 2010 through the Bank’s employee giving campaign, with $5,697 earmarked for the Shippensburg United Way campaign.

United Way improves lives by mobilizing the caring power of communities around the world to advance the common good. More information can be found by visiting their website at www.liveunited.org. Donations for this Shippensburg United Way may be sent to P.O. Box 3, Shippensburg, PA 17257.

With over $1.4 billion in assets, Orrstown Financial Services, Inc. and its subsidiary, Orrstown Bank, provide a full range of consumer and business financial services through twenty 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. Member FDIC.

Orrstown Bank Welcomes Denise Pierce!

Shippensburg, PA (1/12/2011) — Orrstown Bank is pleased to welcome Denise Pierce, Mortgage Originator to the Company. Denise will join our growing West Shore region and will be based out of the Bank’s Camp Hill office.

Phil Dorn, Mortgage Sales Manager commented, “With more than 12 years of banking experience and her strong background in loan origination, Denise will be a valuable addition to our West Shore team.”

Denise was most recently employed by Northwest Savings Bank where she worked as a manager, originating over $25 million in mortgage and retail loan production. A graduate of Clarion University with a Bachelor of Science in Business Administration, Finance, Denise also attended the PBA Central Atlantic Advanced School of Banking at Bucknell University from 2006-2008.

With over $1.4 billion in assets, Orrstown Financial Services, Inc. and its subsidiary, Orrstown Bank, provide a full range of consumer and business financial services through twenty 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. Member FDIC.

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Orrstown Bank Employees Donate to Women In Need!

 Shippensburg, PA (1/5/201) — Orrstown Bank employees continue to show their commitment to our communities, as more than 500 items ranging from personal toiletries to office supplies, laundry baskets, food, and household items were collected at the Bank’s North Pointe Operations Center and donated to Women In Need.

 

Lisa Dougherty, Director of Community Services, commented: “Most of the items will be used in the shelter and, with the donated items, we were able to create a 'care package' for a family (mother and child) moving from the shelter into a new home! The family received household and food items that will allow her to use her money for other important things in her new home.”

"Donations received from the community are essential to the work that we do," said Lisa. "They allow us to use our resources more efficiently and better serve the individuals and families that we work with. These items are often expensive and individuals and families often do without due to the need to pay other bills/expenses first. We truly appreciate Orrstown Bank’s support of Women In Need and the work that we do."

The donations were organized by Barb Thompson, Administrative Services Supervisor at Orrstown Bank, who noted “It's nice to know that something so small as our donations can mean a big difference to so many people. Orrstown Bank...what a great place to work!”

Women In Need has been working with victims of domestic violence and sexual assault in the Franklin and Fulton County Areas of Pennsylvania since 1976. Women In Need is a 501(c)(3) private, non-profit organization working within the community to obtain safety for victims of violence. All of their services are free and confidential to victims of domestic and sexual violence and to the significant others of victims. WIN serves approximately 1500 victims/significant others per year. If you have been a victim of any type of abuse in Franklin or Fulton Counties, Women In Need may be able to help you. If you have any questions about their services or simply need more information, call them at 717.264.4444 or 800.621.6660.

With over $1.4 billion in assets, Orrstown Financial Services, Inc. and its subsidiary, Orrstown Bank, provide a full range of consumer and business financial services through twenty 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. Member FDIC.

Orrstown Bank Welcomes Mike Hernley & Jeff Miller!

Shippensburg, PA (1/5/2011) — Orrstown Bank is pleased to welcome Mike Hernley, Business Banking Officer. Mike joins the Company’s West Shore team and will be based out of the Bank’s Silver Spring, Mechanicsburg office.

Mike was previously employed at Community Banks, and its successor Susquehanna Bank, where he most worked as a Relationship Manager. A graduate of Penn State University, Mike earned a Bachelor of Science degree in Business Administration, Marketing. Jeff Gayman, Senior Vice President, Chief Commercial Officer commented: “With more than eight years of banking experience as well as more than five years of cash management experience, Mike is an excellent addition to our team as we serve our West Shore clients.”

Orrstown Bank is also pleased to welcome Jeff Miller, Vice President and Business Development Officer. Jeff joins the Company’s Carlisle team and will be based out of the Bank’s Stonehedge, Carlisle office.

Jeff was previously employed at Community Banks, and its successor Susquehanna Bank, where he worked as a Commercial Lender. He has taken various Dale Carnegie courses, attended the Bucknell University School of Banking, Loan Officer Training at the University of Virginia, and is a graduate of Commercial Lending School. Jeff Gayman, Senior Vice President, Chief Commercial Officer commented: “With 30 years of banking experience, Jeff's wealth of knowledge will be instrumental in continuing the growth in this important market as Orrstown Bank continues the momentum from 2010 when we reached #1 market share.”

With over $1.4 billion in assets, Orrstown Financial Services, Inc. and its subsidiary, Orrstown Bank, provide a full range of consumer and business financial services through twenty 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. Member FDIC.