Orrstown Bank Public Relations

Orrstown Bank Announces Promotions and New Hire

2011-08-23T07:53:00.000-04:00

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

2011-08-12T08:11:00.000-04:00

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

2011-08-12T08:03:00.000-04:00

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.

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

2011-07-13T13:52:00.001-04:00

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

2011-06-23T13:46:00.000-04:00

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

2011-06-06T11:24:00.000-04:00

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!

2011-06-01T10:39:00.000-04:00

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

2011-06-01T10:33:00.000-04:00

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

2011-05-16T15:30:00.002-04:00

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

2011-05-13T14:30:00.002-04:00

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

2011-05-06T10:59:00.000-04:00

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

2011-05-06T10:56:00.000-04:00

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

2011-04-27T10:30:00.002-04:00

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

2011-04-12T10:03:00.000-04:00

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

2011-03-21T15:26:00.000-04:00

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

2011-03-02T15:39:00.000-05:00

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

2011-02-18T10:54:00.000-05:00

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!

2011-02-16T12:29:00.000-05:00

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

2011-02-10T12:20:00.000-05:00

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

2011-02-10T12:02:00.000-05:00

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.

# # #

Orrstown Financial Services, Inc. Announces 4th Quarter Earnings

2011-01-27T10:23:00.000-05:00

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

2011-01-21T12:12:00.000-05:00

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!

2011-01-14T13:21:00.000-05:00

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!

2011-01-05T10:37:00.000-05:00

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!

2011-01-05T10:27:00.000-05:00

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.

Orrstown Bank Employees Support Toys for Tots

2010-12-21T11:40:00.000-05:00

Shippensburg, PA (12/20/2010) — At a recent meeting, Orrstown Bank Officers brought new, unwrapped toys to donate to Toys for Tots, and all of Orrstown Bank’s employees have donated hundreds of toys this year to the local Toys for Tots drive. The program, which will serve 2,000 children in 800 families this year, has collected approximately 12,000 toys.

Photo Credit: Crystal Stine, Orrstown Bank

Tom Hazlett, this year’s Toys for Tots donation coordinator commented “We are grateful to Orrstown Bank for their donations and the use of their facilities at the North Pointe Operations Center as our collection site. We have seen a decrease in donations this year, and the support of local organizations like Orrstown Bank have helped us move closer to reaching our goal.”

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.

Photos from Bison Statue Dedication

2010-12-17T12:27:00.000-05:00

L-R: Mark Bayer, VP/Director of Marketing, Orrstown Bank; Mindy Loftus, AVP/Business Development Officer, Orrstown Bank; Colby Windholz, Business Banking Officer, Orrstown Bank; Jeff Gayman, SVP/Chief Commercial Officer, Orrstown Bank; Tom Quinn, Jr., President & CEO, Orrstown Bank.

L-R: Jordan Wolf, Senior Class President; Sara Malcolm, Student Council Vice President, and John Estes, Student Council President

Orrstown Bank Announces iPhone App!

2010-12-16T14:56:00.000-05:00

Shippensburg, PA (12/16/2010) — Orrstown Bank is pleased to announce that it has released its free Mobile Banking application for the iPad®, iPhone®, and iPod Touch®.

Orrstown Mobile Banking takes convenience to a whole other level by enabling customers to bank whenever they would like using their iPad ®, iPhone®, or iPod Touch®. Orrstown Mobile Banking allows customers to:

·         view account balances
·         view transaction history
·         view alerts
·         transfer funds between accounts
·         pay bills to existing payees

Timothy Cox, Electronic Services Manager for Orrstown Bank, commented, "With millions of Apple devices deployed in the United States, we recognized the need to provide our customers the convenience of an application that enables them to easily perform their regular banking functions. Our new iPhone application is just the first step in Orrstown Bank's strategic deployment of services to meet the changing needs of our current and future customers."

The free Orrstown Mobile Banking application can be downloaded by visiting the iTunes store. Orrstown Bank’s Mobile Banking also supports other smart phones that are web-enabled and allow SSL traffic and offers the same great features as the iPhone app. Not only is Orrstown Mobile Banking one of the most convenient ways for customers to access their accounts, it also employs the latest encryption technology to keep information safe and secure.

For more information about Orrstown Mobile Banking, please visit our FAQ page at www.orrstown.com/mobilebanking.cfm or call our Customer Service Center toll free at 1.888.ORRSTOWN.

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Orrstown Bank Participates in Bison Statue Dedication

2010-12-15T10:54:00.002-05:00

Shippensburg, PA (12/15/2010) — Carlisle Area School District will hold a dedication ceremony on Friday, December 17th at 8:00 a.m. to celebrate the installation of its new mascot “Thor,” a life-size bison statue, at McGowan High School. Orrstown Bank will be recognized during the ceremony for donating the statue to the school district.

The program includes remarks by Student Council President, John Estes and Student Council Vice President, Sara Malcolm, as well as Senior Class President, Jordan Wolf. Thomas Quinn, Jr., President and CEO of Orrstown Bank, will also be in attendance to assist with the unveiling of the new statue. Performances by the high school cheerleaders and band will be included in the celebration.

Please contact Tom Longenecker, Director of Finance/Board Secretary at 717.240.6800 ext. 16808 for further information.

In partnership with students, parents, and the community, the Carlisle Area School District is committed to providing all students with educational and leadership opportunities to develop their intellect and character so that they will accept and meet the challenge of personal responsibility, enabling them to become contributing members of our diverse society. The district shall make every attempt to support a school climate that is based on high expectations and respect for the individuality of all students and staff.

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 Welcomes Rita Carbaugh!

2010-12-15T10:52:00.003-05:00

Shippensburg, PA (12/15/2010) — Orrstown Bank is pleased to announce that Rita Carbaugh, Mortgage Originator has joined the Company. Rita will be based out of the Norland Avenue office and has 7 years of experience in the Mortgage Sales industry.

Rita has a Bachelor's Degree in Business Management from Bellevue University, and was recently employed as a Mortgage Development Officer at Sovereign Bank in York, PA. With mortgage rates near their historic lows, Orrstown Bank continues to invest in technology, infrastructure and add talented personnel to the mortgage group to meet customer demand, and Rita's knowledge and experience will be an asset to the Chambersburg team.

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 Donates to R.E.A.C.H.

2010-12-08T10:33:00.000-05:00

Shippensburg, PA (12/7/2010) — Ben Walters, Orrstown Financial Advisor for the Bank’s Washington County region recently presented a check to Jill Parker, Crisis Intervention Specialist for REACH, Inc. of Washington County. A non-profit organization, REACH attempts to meet community needs through the help of volunteers and donations.

Ben Walters, Orrstown Financial Advisors presents a check to Jill Parker, Crisis Intervention Specialist

Walters commented, “I learned about funding cuts to the REACH Program through my involvement with Leadership Washington County, and Orrstown Bank’s commitment to supporting our communities fit well with the goals of this non-profit organization. Also, any money donated through the end of the year will be generously matched by an anonymous donor.”

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.

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Orrstown Bank Encourages Customers to Prevent a Holiday Spending Hangover

2010-11-30T14:10:00.000-05:00

Shippensburg, PA (11/29/2010) – Orrstown Bank is kicking off the 2010 holiday shopping season with tips to manage holiday spending and avoid a post-holiday credit hangover.

“Consumers spreading holiday cheer should keep in mind that January bills are only a couple of months away,” says Gary Holder, SVP/Chief Retail Officer. “If consumers are not budgeting for their holiday purchases, people will find themselves bringing in the New Year with last year’s debt.”

Orrstown Bank recommends that customers manage their finances this holiday season with the following spending tips:

• Create a budget and stick to it. Set a dollar amount based on what you can afford this holiday season considering your current savings, income and other expenses. Be sure to include a $20 to $100 cushion for unexpected expenses.

• Make a list. Write down the names of the people you plan to buy gifts for and how much you can afford to spend on each person. Don’t forget to save some of your budget for expenses other than gifts including wrapping paper, cards and postage.

• Bake some cookies. That’s right, if you can’t afford to buy gifts for everyone on your list, bake some holiday goodies and wrap them in cellophane with a holiday bow. Handmade gifts are a special way to say ‘Happy Holidays’ without overspending. Be sure to include these costs in your budget.

• Use credit wisely. Your credit card balance shouldn’t be a complete surprise when you open your statement in January. Take only the credit cards you need when holiday shopping and try to use the card with the lowest interest rate.

• Save your receipts. Keep track of your expenses and add them up weekly to be sure you’re sticking to your budget. If you’re getting close to your spending limit, reevaluate your list and bake more cookies!

• Shop around. Start your holiday shopping early to give yourself time to comparison shop. Take time to do some research before you hit the stores by going online or looking at your local newspaper circulars.

“Holding true to one’s budget during the busy holiday season is an excellent jumpstart to healthy year-long budgeting habits,” said Holder.

Anyone who falls deep in debt and is late on their payments should inform creditors so they can work on a resolution plan with you. Banks and other lenders are often willing to help extend payment periods, consolidate debts or assist in refinancing.

A pattern of late payments in a credit report could make attaining future loans or credit difficult. Consumers in need of help with debt problems should contact the National Foundation for Credit Counseling at 1-800-388-2227.

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.

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Orrstown Bank Participates in Vision Group Ventures Groundbreaking Ceremony

2010-11-17T13:58:00.000-05:00

Shippensburg, PA (11/17/2010) — Zach Flynn, Senior Vice President, Regional Senior Loan Officer for Orrstown Bank’s West Shore region participated in the November 12, 2010 Vision Group Ventures’ groundbreaking ceremony at 4125 North Front Street in Susquehanna Township.

The groundbreaking marks the beginning of a construction project that will result in new office space for Crump Life Insurance Services, allowing them to retain their current 240 employees with room to add an estimated 60 additional employees over the next two years. Zach Flynn commented, “Orrstown Bank is pleased to have the opportunity to provide construction and permanent loan financing for this project. Our mission is to help our customers realize their dreams, and the completion of this building will benefit businesses as well as the community as new jobs are added.”

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Orrstown Financial Services, Inc. to Present at Sandler O'Neill & Partners, L.P. East Coast Financial Services Conference

2010-11-10T11:44:00.000-05:00

Shippensburg, PA (11/09/2010) --- Orrstown Financial Services, Inc. (NASDAQ: ORRF) will address analysts and investors attending the Sandler O'Neill & Partners, L.P. East Coast Financial Services Conference on November 11, 2010. ORRF is scheduled to present at 7:45 a.m. EST. Thomas R. Quinn, Jr., President and CEO, will discuss ORRF strategy, recent business developments and market opportunities. A brief question and answer session will follow the presentation.

The webcast can be accessed via: http://www.sandleroneill.com. Go to the “Conferences” button at the bottom of the page, then select “Register to View Webcast” under the East Coast Financial Services Conference heading. The presentation will also be archived and available for 30 days following the conference.

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 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.

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.

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Low Interest Rates at Orrstown Bank Make Home Ownership Possible

2010-11-05T10:42:00.000-04:00

Philip Fague, EVP,
Mortgage & Consumer Business

Shippensburg, PA (11/5/2010) — With mortgage interest rates at their lowest levels since World War II, a plentiful housing stock and prices still low, buying a home may now be easier for many Americans than it has been in years.

“Buying a home is the single largest investment that most people will make in their lifetime,” said Philip Fague, Executive Vice President, Mortgage & Consumer Business. “So it’s important to take an honest look at your budget first to see what you can afford.”

Orrstown Bank recommends that potential buyers consider several important factors before deciding to buy a home:

• Review your finances. An honest analysis of your financial situation is central to the decision to buy. Calculate all your monthly expenses in addition to your potential mortgage payment, including homeowner’s insurance, taxes, condo fees and other obligations like car payments, credit card debt, and living expenses, including utilities and groceries. Consumers should anticipate and save for home maintenance costs as well.

• Check your credit score. Your credit history is another important factor when applying for a loan. Most lenders rely on the Fair Isaac Corporation (FICO) credit score or the VantageScore when determining your qualifications for a loan. The score reflects how well you manage your debt and is calculated using data from your credit report. A low credit score will result in a higher interest rate on your loan. If your score is too low, you may not be approved for a loan at all. There are a number of things you can do to improve your credit score, including paying your bills on time, only opening lines of credit you need and keeping your credit card balances below half of your available credit.

• Factor in closing costs. Once you’ve found a home and agreed on a purchase price, there will be costs associated with closing the sale. These costs can vary widely and will depend on the purchase price of the home and whether a real estate attorney or title/escrow company will be involved in the transaction. By law, lenders are required to give you a written estimate of closing costs within three days of accepting your loan application.

Visit our website at www.orrstown.com or call toll free 1.888.ORRSTOWN to find an Orrstown Bank mortgage professional near you! Orrstown Bank, equal housing lender, Member FDIC.

Jessica Middour, Business Banking Officer, Joins Orrstown Bank

2010-11-02T09:58:00.000-04:00

Shippensburg, PA (11/1/2010) Orrstown Bank (NASDAQ: ORRF) is pleased to announce that Jessica Middour has joined the Company as a Business Banking Officer for the Hagerstown Market. With 14 years of banking experience in the Waynesboro/Hagerstown Markets, Jessica's experience and familiarity with the area will be an asset to the organization as we take our Western Maryland market to the next level.

Most recently employed by Sovereign Bank as a Senior Level Teller and Insurance Agent, Jessica is a graduate of Waynesboro High School. Middour is licensed to sell Life Insurance in both Pennsylvania and Maryland and she currently lives in Waynesboro.

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

2010-10-28T10:54:00.000-04:00

Please visit our website, http://www.orrstown.com/, for the complete earnings release.

SHIPPENSBURG, PA (October 28, 2010)
• Third quarter 2010 earnings increased 26.2% vs. third quarter 2009

• 11.0% reduction of risk assets in the third quarter 2010

• Nonperforming assets declined 29.0% since March 31, 2010

• Basic earnings per share of $0.61 for the third quarter 2010, matches third quarter 2009, despite an increase in the number of shares from the March 2010 stock offering

• The Company announced a 2.3% increase in the quarterly dividend over the fourth quarter 2009

Orrstown Financial Services, Inc. (NASDAQ: ORRF) announced today that net income increased 26.2% to $4,896,000 for the quarter ended September 30, 2010, from $3,880,000 for the third quarter of 2009. Diluted earnings per share amounted to $0.61 for the quarter ended September 30, 2010, as compared to $0.60 for the corresponding prior year period. The Company also announced that its Board of Directors declared a fourth quarter cash dividend of $0.225 per share for shareholders of record on November 12, 2010. The dividend will be paid on November 24, 2010.

Commenting on the Company’s results, Thomas R. Quinn, Jr., President and CEO, said, “We are very pleased to report record net income, by quarter, for three sequential quarters and a 17.8% increase in year-to-date earnings compared to the same period last year.”

“Our capital raise in the first quarter of 2010, which increased capital by $37.6 million, combined with our ability to generate deposit growth, allowed us to grow assets 27.4% since September 30, 2009. Our regulatory capital ratios of 9.5% Tier 1 leverage, 13.7% Tier 1 risk-based, and 14.9% Total risk-based are well above the minimums to be considered well capitalized, and position the Company to take advantage of future opportunities.”

Quinn concluded, “Despite a tough banking environment, we have been able to produce consistent operating results, bolster our reserves and capital, and continue our efforts in addressing asset quality. This forward momentum will continue to serve us well during the remainder of 2010 and into 2011.”

Results of Quarterly Operations

Net interest income for the quarter ended September 30, 2010 increased to $11,668,000 as compared to $9,479,000 in the same prior year period. The net interest margin decreased slightly to 3.62% for the three months ended September 30, 2010, a reduction of one basis point versus the same quarter in 2009. The Company continues to lower its cost of funds as evidenced by a decrease of 62 basis points to 0.92% for the three months ended September 30, 2010, as compared to 1.54% in the same prior year period. Average interest-earning assets increased by $286 million for the three months ended September 30, 2010, as compared to the same prior year period.

Other income increased to $6.2 million for the three months ended September 30, 2010, as compared to $4.4 million in the same prior year period. This includes an increase in securities gains from $338,000 during third quarter 2009, to $1,074,000 during third quarter 2010. Noninterest income generation increased across all business lines, including Orrstown Financial Advisors, mortgage origination and deposit based fees. Operating expenses amounted to $9.7 million for the three months ended September 30, 2010, as compared to $8.0 million for the corresponding prior year period.

Results of Year-to-Date Operations

Net interest income for the nine months ended September 30, 2010, increased to $33,465,000 as compared to $26,313,000 in the same prior year period, reflecting a higher net interest margin and higher levels of interest-earnings assets. The net interest margin increased to 3.72% for the nine months ended September 30, 2010, a gain of 19 basis points versus the same period in 2009. The yield on interest-earning assets decreased to 4.76%, as compared to 5.25% in the prior year period. Year to date, the cost of funds decreased to 1.04% for the nine months ended September 30, 2010, as compared to 1.72% in the same prior year period. Average interest-earning assets increased by $225 million for the nine months ended September 30, 2010, as compared to the same prior year period. The provision for loan losses increased to $7,550,000 for the nine months ended September 30, 2010, as compared to $1,265,000 for the corresponding prior year period.

Other income increased to $18.3 million for the nine months ended September 30, 2010, as compared to $12.6 million in the same prior year period. This includes an increase in securities gains from $796,000 through September 30, 2009, to $3,253,000 through September 30, 2010. Operating expenses amounted to $27.1 million for the nine months ended September 30, 2010, as compared to $23.9 million for the corresponding prior year period.

Financial Condition

Assets grew $282 million to $1.478 billion at September 30, 2010, up from $1.196 billion at December 31, 2009. Securities available for sale have increased $232.9 million, or 118.7%, since December 31, 2009. Deposits increased to $1.139 billion at September 30, 2010, from $915 million at December 31, 2009. Stockholders’ equity increased to $163.9 million at September 30, 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

The Company’s non-accrual loans totaled $14.4 million at September 30, 2010, down $8.6 million, or 37%, from the high of $23.0 million at March 31, 2010. Improvement was made through the reduction in the level of non-accrual loans, loans past due 90 or more days and still accruing, and total delinquency. 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 $20.5 million as of September 30, 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 1.39% at September 30, 2010, 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 107% at September 30, 2010.

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 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.

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.

# # #

Orrstown Bank Announces 4 Promotions!

2010-10-22T11:16:00.000-04:00

Shippensburg, PA (10/21/2010) Orrstown Bank (NASDAQ: ORRF) is pleased to announce that Zachary Flynn has been promoted to the position of Senior Vice President & Regional Senior Loan Officer for the Bank’s Carlisle, West Shore & Perry County Markets. Zach came to Orrstown Bank in December of 2009 as a SVP & Regional Senior Loan Officer for the West Shore & Perry County Markets.

Jeff Gayman, SVP and Chief Commercial Officer commented: “With over 25 years of experience in the Financial Services industry, the expertise and knowledge Zach brings to this position will be an asset to the Carlisle region.”

Orrstown Bank (NASDAQ: ORRF) is pleased to announce that Lew Davey, Vice President, Business Development Officer for the Bank’s West Shore region, will be expanding his role to include activities as a Business Banking Officer in Perry County.

Jeff Gayman, SVP and Chief Commercial Officer commented: “With over 20 years experience working in the East and West Shores, Davey brings a wealth of expertise and knowledge to his new role, and I am confident that he will do all he can to help our customers in Perry County realize their dreams.”

Orrstown Bank (NASDAQ: ORRF) is pleased to announce that Colby Windholz has been promoted to Commercial Loan Officer for the Bank’s Carlisle region.

Jeff Gayman, SVP and Chief Commercial Officer commented: “Colby has built a foundation of solid customer service in the Carlisle region since becoming a Business Banking Officer in 2007, and his work as a Commercial Loan Officer will be an additional asset to the business banking community.”

Orrstown Bank (NASDAQ: ORRF) is pleased to announce that Angela Tatum has been promoted to Commercial Loan Officer for the Bank’s West Shore region. Employed with the Bank since 2002, Tatum has worked as a Business Banking Officer in the West Shore since 2008.

Jeff Gayman, SVP and Chief Commercial Officer commented: “Angela’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 West Shore.”

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 Promotes National Protect Your Identity Week

2010-10-15T11:09:00.000-04:00

Shippensburg, PA (October 15, 2010) – In recognition of National Protect Your Identity week on Oct. 17-22, Orrstown Bank is urging customers to pay particular attention to identity theft prevention.

“Orrstown Bank works diligently to protect our customers from identity theft,” said Jeff Embly, EVP and Chief Credit/Risk Officer. “We use a combination of safeguards to protect customer information, such as employee training, strict privacy policies, and rigorous security standards. But we can’t do it alone. Customers can help us protect them by following a few simple precautions.”

Orrstown Bank encourages customers to follow some simple steps to avoid becoming a victim:

• Shred or tear up statements and other personal information. Criminals may be able to get access to your accounts and personal information by “dumpster diving” (retrieving canceled checks, deposit receipts or bank statements from dumpsters or trash bins).

• Keep an eye out for any missing mail, particularly account statements and bills that do not arrive when expected.

• Review your monthly accounts regularly for any unauthorized charges through the Internet, phone or ATM statements.

• Order free copies of your credit report once a year from each of the credit reporting agencies to ensure accuracy. Go to the Federal Trade Commission’s authorized web site www.annualcreditreport.com for your free credit report.

• Choose to do business with companies you know are reputable, particularly online. When conducting business online, use firewalls, anti-spyware and anti-virus software and do not respond to unsolicited requests for personal information.

• Protect your PINs and passwords. Use a combination of letters and numbers for your passwords and change them periodically.

• Report any suspected fraud immediately to your bank and the fraud units of the three credit reporting agencies.

A special website is available that offers consumer tips, steps for victims and a state-by-state list of Protect Your Identity Week events. There’s also an online ID quiz that can help determine how prone one may be to identity theft. Click here to visit the site: http://www.protectyouridnow.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.

Colby Windholz Completes PBA School of Commerical Lending with Honors

2010-10-14T13:46:00.002-04:00

Shippensburg, PA (October 14, 2010) – Colby Windholz, Commercial Loan Officer at Orrstown Bank completed coursework with an Honors recognition at the 2010 PBA School of Commercial Lending, July 25 - 30, at the Penn Stater Conference Center, State College, PA. Colby has worked for Orrstown Bank since 2007 and was recently promoted from Business Banking Officer to his current role as Commercial Loan Officer for the Bank’s Carlisle, PA market.

The PBA School of Commercial Lending supports the business development and leadership schools of experienced and potential commercial lenders. Students studied how the economy drives the commercial lending business, business development calling, negotiation skills, analyzing financial statements, presenting to the institution’s loan committee and loan workouts.

The Pennsylvania Bankers Association, located in Harrisburg, is the state’s largest banking trade association representing an expansive and diverse membership. The association offers extensive continuing education programs, government relations representation on behalf of the industry, and provides numerous products and services for banks and their 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.

Crystal Stine Earns CFMP Designation

2010-10-14T10:38:00.000-04:00

Shippensburg, PA (October 14, 2010) – Orrstown Bank is pleased to announce that the American Bankers Association Institute of Certified Bankers has awarded Crystal Stine, Corporate Communications/Public Relations Officer, the Certified Financial Marketing Professional (CFMP) designation. The Certified Financial Marketing Professional certification is designed to:

• Establish a recognized standard of knowledge and competence for marketing professionals working in the financial services industry
• Formally recognize those who meet these standards
• Provide employers with a tool to identify skilled, knowledgeable professionals
• Support the benefits of professional continuing education and development

“Crystal is to be commended on achieving her CFMP designation. Her diligence in improving her knowledge and skill set are a benefit to her and the organization as a whole,” commented Mark Bayer, VP, Director of Marketing.

Stine is a 2001 Shippensburg High School graduate who also holds both Bachelor of Arts and Master of Arts degrees from Villanova University. Crystal earned her American Bankers Association AIB Bank Marketing Diploma earlier this year, which qualified her to sit for the CFMP exam in September.

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 Phil Dorn!

2010-10-12T12:19:00.000-04:00

Shippensburg, PA (October 12, 2010) – Orrstown Bank is pleased to welcome Phil Dorn, Mortgage Sales Director to the Company. Based out of the Bank’s Camp Hill office, Phil will manage the mortgage loan origination team while reviewing existing client relationships and developing sales strategies to grow the Bank’s mortgage business.

Dorn brings over 25 years of mortgage loan origination experience to the position and is currently a licensed originator under the Nationwide Mortgage Licensing System. Phil has also received certifications from government agencies such as Fannie Mae, HUD, Pennsylvania Housing and Rural Housing.

Orrstown Bank Video From Top 50 Ceremony

2010-10-06T08:29:00.000-04:00

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. Below is a video (courtesy of Rutan Productions) from the awards ceremony.

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

2010-09-28T08:31:00.000-04:00

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

2010-09-27T16:03:00.000-04:00

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

2010-09-27T15:30:00.000-04:00

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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Orrstown Bank Volunteers with Habitat for Humanity!

2010-09-24T11:09:00.000-04:00

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.

Orrstown Bank Welcomes Bev Rosenberry!

2010-09-24T11:00:00.000-04:00

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.

Orrstown Bank and CCED Partner to Award Small Business First Loan

2010-09-22T13:59:00.000-04:00

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.

Orrstown Bank Ranked 19th Fastest Growing Company by CPBJ

2010-09-17T09:12:00.000-04:00

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.

Orrstown Bank Supports Wounded Warrior Invitational

2010-08-30T11:15:00.000-04:00

Shippensburg, PA (August 30, 2010) – Orrstown Bank is honored to support the Falling Springs Invitational Fly Fishing Outing for Wounded Warriors, held in Chambersburg, PA. The event, established under the auspice of Project Healing Waters Fly Fishing, Inc., is “a day away from the medical environment for the Warriors and a time of finding their new normal with nature that compliments their ongoing therapy and healing.”

In recognition of Orrstown Bank’s continuing support, Mr. Thomas R. Quinn, Jr., President and CEO of Orrstown Bank, and Dr. Anthony Ceddia, member of the Orrstown Bank Board of Directors, were presented with a plaque by Darv Stutz, Invitational Coordinator on August 26th.

Pictured (L-R): Dr. Anthony Ceddia, Thomas R. Quinn, Jr., and Darv Stutz.
Photo credit: Janelle Allen, Orrstown Bank.

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 quoted on the NASDAQ Capital Market under the symbol ORRF.

Orrstown Bank Participates in ABA's "Lights, Camera, Save!" Contest

2010-08-11T10:20:00.000-04:00

LIGHTS, CAMERA, SAVE!
Orrstown Bank Calls for Entries

Shippensburg, PA (August 11, 2010) – Today’s kids know everything about everything, but how much to do they know about the value of saving? Orrstown Bank’s participation in the Lights, Camera, Save! competition seeks to answer that very question.

“The Lights, Camera, Save! contest will allow teens to role play and record their thoughts regarding the value of saving money,” explained Crystal Stine, Corporate Communications/Public Relations Officer. It’s a way to get kids thinking about saving and its impact.”

The video contest is one of several components of the ABA Education Foundation’s Teach Children to Save program. This component is a unique competition that encourages youth to use video to communicate the value of saving and inspire others to become lifelong savers.

"The contest is meant to be fun and exciting but when all is said and done, we hope teens will take action and live this message, ‘Start young, save more,’” Stine added.

To participate, students aged 13-16 can stop by any Orrstown Bank office for an entry form and contest details. Orrstown Bank will host the first round of local level judging and will submit one winning video to compete on the national level for a chance at a $3,000, $1,500 and $500 in U.S. Savings Bonds and an iPod® Touch.

The Teach Children to Save program is a national campaign that organizes banker volunteers to educate young people about the importance of developing a lifelong savings habit. Since 1997, the campaign has reached 3.4 million young people with the help of some 80,000 banker volunteers, an annual awareness day ‐‐ Teach Children to Save Day ‐‐ and the Teach Children to Save Web site: www.teachchildrentosave.com.

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 quoted on the NASDAQ Capital Market under the symbol ORRF.

Orrstown Bank Awards 11 Scholarships to Local Students

2010-06-29T14:08:00.000-04:00

Shippensburg, PA (June 24, 2010) – Thomas R. Quinn, Jr., President & Chief Executive Officer of Orrstown Bank (NASDAQ: ORRF) is pleased to announce the 2010 recipients of the ten Orrstown Bank Foundation $1,000 scholarships and our first $1,500 Kenneth R. Shoemaker Leadership Scholarship. The young men and women were chosen for their academic achievement, test scores, service to school and community, leadership, potential, and financial need.

Mr. Quinn commented, “The students that were chosen by the Scholarship Committee are outstanding in both their academic and community achievements. It is our honor to help them realize their academic dreams through these scholarships, and I wish them well as they pursue their college degrees.”

The 2010 Kenneth R. Shoemaker Leadership Scholarship Recipient:

Emily Bessler is the first recipient of the new Kenneth R. Shoemaker Leadership Scholarship. A graduate of Carlisle High School, Emily will attend the College of William and Mary in the fall.

Photo credit: Janelle Allen, Orrstown Bank

The 2010 Orrstown Bank Foundation Scholarship Recipients:

Hannah Bingham, a Camp Hill graduate, will attend Messiah College.

Newport High School graduate Angel Bohn will attend Indiana University of Pennsylvania.

Jason Camarano, a graduate of South Hagerstown High School, will attend the University of Pittsburgh.

Chambersburg High School graduate Andy Dessel will attend Penn State Harrisburg.

Nick Forrester, a Shippensburg High School graduate, will attend Baptist Bible College.

West Perry High School graduate Leslee Goodheer will attend Lancaster General College of Nursing & Health Sciences.

Megan Kelly, a Chambersburg High School graduate, will attend Dusquene University.

West Perry High School graduate Zachary Lemon will attend Juniata College.

Samantha McCulloch, a Big Spring High School graduate, will attend Millersville University.

Hannah Szymanik, a graduate of Boiling Springs High School, will attend Waynesburg University.

Photo credit: Janelle Allen, Orrstown Bank

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 quoted on the NASDAQ Capital Market under the symbol ORRF.

Orrstown Financial Services, Inc. Remains Listed on Russell Indices

2010-06-29T14:03:00.000-04:00

Shippensburg, PA (June 29, 2010) – Orrstown Financial Services, Inc. (NASDAQ: ORRF) announced today that the Company remains a member of the broad-market Russell 3000^® Index following Russell Investments annual reconstitution of its U.S. and global indices. Orrstown was initially added to the Index in 2009.

"We are pleased with our continued inclusion on the benchmark index of the 3,000 largest U.S. companies,” commented Thomas R. Quinn, Jr., President and CEO of Orrstown Financial Services, Inc. “Earlier this month US Banker Magazine recognized Orrstown as the 39 ^th best performing community bank in the nation⁽¹⁾, and in both cases we are honored to receive recognition for our solid financial performance.”

The Russell 3000 Index measures the performance of the 3,000 largest U.S. companies based on total market capitalization. The Russell 2000 Index is a sub-set of the Russell 3000 and measures the performance of companies ranked 1,001-3,000 (small-cap) companies. Orrstown Financial Services, Inc. thus remains a part of both the Russell 2000 and Russell 3000 indexes.

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 quoted 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.

⁽¹⁾2010 rankings are based on 3-year return on average equity (ROE) of publicly traded banks and thrifts with less than $2 billion in assets.

Orrstown Financial Advisors Welcomes Bob Reitzel!

2010-06-28T16:40:00.000-04:00

Shippensburg, PA (June 28, 2010) – Orrstown Financial Advisors is pleased to welcome Robert K. Reitzel, Vice President and Trust Officer to the Company. Bob will work from the Bank’s Seven Gables, Carlisle office and will be responsible for estate and trust administration and business development.

“Bob will be an excellent addition to our Financial Advisors team,” commented Barb Brobst, SVP, Trust Officer. “The experience and expertise that he brings to the organization will benefit both our clients and the Company.”

Most recently employed with Hershey Trust Company, Reitzel brings over 40 years of experience in Trust Services from previous positions at Hamilton (Corestates) Bank, and Mellon Bank. Bob graduated from The Pennsylvania State University with a Bachelor of Science in Business Administration, Marketing and is also a graduate of the Central Atlantic School of Trust at Bucknell University.

Actively involved in the community, Reitzel is an Investment Advisory Board Member for the Supreme Court of PA; Member of Rotary International; Board Member and Treasurer of PA Lawyers Fund for Client Security; Board Member for Keystone Partnership; Member of the Finance and Investment Committee for United Way Central PA; Member of the HBG Regional Chamber Military Liaison Committee; Member of the Whitaker Center Nominating and Program Committee; Member of the Dauphin County Tax Group; Member of the Estate Planning council Central PA; and Member of the Investment and Finance Committee for the First Lutheran Church in Carlisle, PA. Bob resides in Carlisle with his wife Deborah.

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 quoted on the NASDAQ Capital Market under the symbol ORRF.

Photo Credit: Colleen & Company

Orrstown Bank Named One of CPBJ's Top 50 Fastest Growing Companies!

2010-06-28T11:41:00.000-04:00

Shippensburg, PA (June 25, 2010) – Orrstown Bank is pleased to announce that they have made Central Penn Business Journal’s fourteenth annual list of the Top Fifty Fastest Growing Companies in Central Pennsylvania. Orrstown Bank’s ranking on the list will be revealed at an awards breakfast in September.

Eligible companies must have revenue of at least $500,000 in each of the fiscal years ending 2007, 2008 and 2009; must show revenue growth in 2009, as compared to 2007 (a three-year period); companies must be headquartered in Adams, Cumberland, Dauphin, Lancaster, Lebanon, Perry or York county; and companies must be for-profit entities.

The Central Penn Business Journal website describes the award: “This prestigious event honors Central Pennsylvania's most dynamic for-profit businesses and their contributions to the growth and success of our region. Qualifying companies are ranked according to their revenue growth (both dollar and percentage increases) over a consecutive three-year period. The final list of fifty companies are featured in a supplement to the Central Penn Business Journal and are honored at an awards breakfast. The Top Fifty Fastest growing Companies program provides a great opportunity to get a close-up look at the businesses shaping the future of our local economy.”

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 quoted on the NASDAQ Capital Market under the symbol ORRF.

Orrstown Bank Announces Promotion of Stine

2010-06-23T13:07:00.002-04:00

Shippensburg, PA (June 23, 2010) Orrstown Bank announces the promotion of Crystal Stine to Corporate Communications/Public Relations Officer. Ms. Stine has been employed with Orrstown Bank for four years, and has worked in the Marketing Department for the past three years in a number of capacities. As Corporate Communications/Public Relations Officer, Ms. Stine will have primary responsibility for both internal and external communications, advertising, and promotions for the organization in addition to other general duties supporting the marketing function.

Ms. Stine graduated from Villanova University with a Bachelor of Arts in English and a Master of Arts in Liberal Studies. She has also earned her AIB Marketing diploma and in the fall will sit for her Certified Financial Marketing Professional (CFMP) accreditation.

“Crystal is eminently qualified for her new role and increased responsibility within our growing organization,” commented Mark Bayer, VP/Director of Marketing.

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 quoted on the NASDAQ Capital Market under the symbol ORRF.

Orrstown Bank Rated A Top Bank in the Nation - 5th Year in a Row!

2010-06-23T13:05:00.000-04:00

Shippensburg, PA (June 23, 2010) Orrstown Financial Services, Inc., parent company of Orrstown Bank, was ranked the 39^th 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. Considered a “star” by US Banker with a 13.11% 3-year ROE, in addition to being ranked 39^th nationwide, Orrstown Financial was the 4^th highest ranked Pennsylvania bank on the list. Pennsylvania led all other states with 31 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 5^th year in a row. Our improvement from the 52^nd highest performing bank in the nation in 2009, to 39^th this year, is a testament to the hard work and support of our Board of Directors, Executive Management Team, and nearly 300 dedicated team members. I would also like to acknowledge the support of our shareholders and customers throughout our 91 year history as a locally owned independent bank.”

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 quoted on the NASDAQ Capital Market under the symbol ORRF.

Social Media Security

2010-06-17T14:19:00.001-04:00

Check out these great social media security tips from JHA!

Orrstown Bank Participates in "Teach Children to Save" Day

2010-05-06T11:06:00.000-04:00

Shippensburg, PA, May 4, 2010 – Jamie Steffen, Branch Executive Officer of Orrstown Bank’s Red Hill branch Nichole Clouser, Branch Executive Officer of the Bank’s New Bloomfield branch, Bernie Kent, Branch Executive Officer and Gretchen Turnbaugh, Teller of the Bank’s Duncannon branch welcomed 3^rd graders from New Bloomfield Elementary and Newport Elementary to Orrstown Bank’s New Bloomfield and Newport branches for a fun day of banking education.

Nearly 200 students attended the Bank’s “Teach Children to Save Day” on April 27^th. Jamie, Nichole, Bernie, and Gretchen offered a tour of the bank, snacks, a lesson on saving money versus eating at a restaurant, and a visit with Professor Pennywise. Stephanie Crouse of the Newport School District commented on the highlights of the visit: “The money sorter/bill counter is always a big hit, along with the vault. A new feature this year was the counterfeit device - that was “way cool” according to the kids! Orrstown Bank continues to be very generous to the students with their “goodie bags”. The quarter to each student initiated a wonderful teaching opportunity the next day at school. Many of the students brought in coins and quarter collections. We coordinated social studies and math lessons with the quarters.”

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 quoted on the NASDAQ Capital Market under the symbol ORRF.

Kaela Hockenberry with Professor Pennywise

Orrstown Financial Services, Inc. Announces 1st Quarter Earnings, Quarterly Dividend

2010-04-22T14:16:00.004-04:00

Shippensburg, PA (April 22, 2010) – Orrstown Financial Services, Inc. (NASDAQ: ORRF) is pleased to announce net operating results for the first quarter ended March 31, 2010.

Highlights for Orrstown Financial Services, Inc.:

Net income of $3,406,000 for the first quarter of 2010, an increase of 12.6% vs. first quarter of 2009

Net interest income improved by 30.9% vs. first quarter of 2009

Net interest margin improved by 36 basis points vs. first quarter of 2009

Primary earnings per share increased 10.6% vs. first quarter of 2009

Loans increased 8.5% and deposits increased 27.6% vs. first quarter of 2009

For the first quarter of 2010, Orrstown Financial Services, Inc. improved net income by $381,000, an increase of 12.6% vs. the same quarter last year. As a result of the Company’s continued growth, net interest income for the first quarter of 2010 was $10,497,000; an increase of $2,475,000 over the $8,022,000 realized during the same quarter in 2009. Non-interest income showed an increase of 12.7%, while non-interest expenses rose 14.4%. During the first quarter of 2010, core earnings solidified as the net interest margin increased to 3.76%, a gain of 36 basis points vs. the same quarter in 2009. Balance sheet growth of 21.4% over last year resulted in total assets reaching $1.316 billion as of March 31, 2010.

Commenting on the quarterly performance, Thomas R. Quinn, Jr., President and Chief Executive Officer, stated, “Our core fundamentals remain solid and we were pleased with our first quarter results given the challenging economic conditions.” In March, Orrstown Financial Services, Inc. completed a common stock offering that netted approximately $37.5 million in additional capital positioning the Company to take advantage of future opportunities, and ensuring that its capital ratios remain strong. Mr. Quinn continued, “Our common stock offering was well received by the investment community and was one of the strongest capital raises by a financial institution this year in terms of price to book value.”

The Board of Directors approved a second quarter cash dividend of $.22 per share for shareholders of record on May 7, 2010. The dividend will be paid on May 19, 2010.

Please view the full press release on our website: http://www.snl.com/IRWebLinkX/news.aspx?iid=100631

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 quoted 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.

Another Great Year for the Orrstown Bank Youth Advisory Council!

2010-04-15T12:09:00.005-04:00

Shippensburg, PA (April 15, 2010)– Crystal Stine, Marketing Associate II and Youth Advisory Council Chairperson is pleased to announce the successful completion of Orrstown Bank’s second Youth Advisory Council program. Orrstown Bank first developed the Youth Advisory Council program in December 2008 to gather information and feedback on banking from a diverse group of students belonging to the “Millennial” generation.

The advisory council, consisting of Shippensburg Senior High School students Mary-Carolyn Burt, Lauren Furry, and Arnela Zejcirovic, and Shippensburg University students Anna Kovanic, Scott Henry, and Jessica Rabuck, met once a month from September 2009 to April 2010. The group successfully completed various projects during their term, including: Money Journals, Peer Survey, Mystery Shopping an Orrstown Bank branch, and an Advertising Competition. This year the students were also given the opportunity to network with young professionals at Orrstown Bank and learn about basic banking and financial planning.

Mrs. Stine commented “Orrstown Bank is pleased to have had each of these outstanding students participate in this program. We look forward to implementing their creative and insightful feedback in future marketing, communication and account features that will directly benefit their peers.”

For more information about the Orrstown Bank Youth Advisory Council, contact Crystal Stine, Chairperson at cstine@orrstown.com.

With over $1 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 quoted on the NASDAQ Capital Market under the symbol ORRF.

Orrstown Bank Announces Promotion of Harter, Hiring of Coy

2010-04-06T09:41:00.002-04:00

Shippensburg, PA (April 5, 2010) - Orrstown Bank is pleased to announce that, effective February 25, 2010 Bill Coy joined the Company as a Branch Executive Officer. Coy will serve the Bank’s Norland Avenue office in Chambersburg, PA. This position was previously held by Lee Harter, who was promoted to Vice President, Regional Sales Manager in January. Lee will now be based out of the Bank’s King Street, Shippensburg, PA and will oversee the branches in the Bank’s southern region.

Orrstown Bank Welcomes Michael Russo

2010-03-21T17:16:00.003-04:00

Shippensburg, PA (March 18, 2010) - Orrstown Bank is pleased to announce that Michael Russo has joined the Company as a Loan Review Officer. Russo will be responsible for conducting independent and objective reviews of commercial loan underwriting, structuring, approval and assignment of credit risk grades under the supervision of the Credit Administration Committee. Michael brings over 25 years of financial experience to his position, having previously been employed with FNB of Greencastle, Patriot Federal Credit Union, and F&M Trust.

Russo attended California University in California, PA, graduated from the PBA Advance School of Banking at Bucknell University and has taken continuing education courses through Shippensburg University. He currently holds a Pennsylvania Health, Life, and Property & Casualty Insurance License. Michael resides in Chambersburg.

Orrstown Bank Welcomes Lew Davey

2010-03-10T12:42:00.000-05:00

Shippensburg, PA (March 10, 2010) - Orrstown Bank is pleased to announce that Lew Davey has joined the Company as a Vice President, Business Development Officer. Davey will serve the Bank’s West Shore and Perry County regions. Lew brings 24 years of experience to his role as Business Development Officer.

Davey graduated from the University of Pittsburgh with a BA in Business Economics and is also a graduate of West Perry High School. Actively involved in the community, Lew serves as Board Member and Member of the Executive Committee for the Pennsylvania National Horse Show Association, Board Member and past President of the Kiwanis Club of Harrisburg, Treasurer of Slow Food Harrisburg, and as Committee Member of Troup 88 Boy Scouts of America, Keystone Council, Adventure District.

Orrstown Bank Welcomes Rodger Diehl!

2010-03-08T13:32:00.002-05:00

Orrstown Bank is pleased to announce that Rodger Diehl has joined the Company as a Mortgage Originator. Diehl will serve the Bank’s Carlisle region and will be based out of the Seven Gables office.

Previously employed with Wells Fargo as a Home Mortgage Consultant, Rodger brings nearly 30 years of experience to his role as a Mortgage Originator.

Diehl is a Carlisle High School graduate and has earned both his Real Estate Salesman and Real Estate Broker licenses. Rodger is actively involved in the community as a member of the Community Christian Fellowship Church, and currently resides in Carlisle with his wife and daughter.

Orrstown Bank Welcomes Bill Coy

2010-03-04T14:21:00.001-05:00

Shippensburg, PA (March 4, 2010) - Orrstown Bank is pleased to announce that Bill Coy has joined the Company as a Branch Executive Officer. Coy will serve the Bank’s Norland Avenue office in Chambersburg, PA.

Bill was previously employed at Sovereign Bank as a manager overseeing several branch locations, and brings nearly 10 years of managerial experience to the Bank.

Coy is a Chambersburg Area Senior High School graduate and earned both a degree in Economics with a Business minor from The Pennsylvania State University. He has also earned both his Pennsylvania and West Virginia Real Estate Licenses. Bill currently resides in Chambersburg with his wife and daughter.

Orrstown Bank Welcomes Gabe Fortmann

2010-02-18T15:28:00.001-05:00

Shippensburg, PA (February 18, 2010) - Orrstown Bank is pleased to announce that Gabe Fortmann has joined the Company as a Mortgage Originator. Fortmann will serve the Bank’s Washington County, MD market.

Gabe brings over five years of lending experience in the mortgage industry to Orrstown Bank. He was previously employed with MetLife Home Loans and PNC Mortgage in Hagerstown, MD. Prior to working as a Mortgage Originator, Gabe served in the United States Air Force as an Instructor for the Marines, Army and Air Force.

Fortmann has a Bachelor's Degree in Political Science from the University of Delaware. Actively involved in the community, Gabe serves on the Pen Mar Board of Realtors. He currently lives in Waynesboro.

Orrstown Bank Donates $124,000 to Local Educational Organizations

2010-02-18T08:01:00.002-05:00

Orrstown Bank believes in giving back to and supporting the communities we live and work in. In 2009, Orrstown Bank donated $124,000 to local educational organizations through the Pennsylvania Educational Improvement Tax Credit (EITC) program.

Thomas R. Quinn, Jr., President & CEO of Orrstown Bank 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.”

ORRSTOWN FINANCIAL SERVICES, INC. ANNOUNCES FILING OF FORM S-3 SHELF REGISTRATION STATEMENT

2010-02-09T16:48:00.000-05:00

Shippensburg, Pennsylvania (February 9, 2010) – Orrstown Financial Services, Inc. (the “Company”) (NASDAQ:ORRF) announced today that it has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission (the “SEC”). When declared effective by the SEC, the shelf registration statement will allow the Company to raise capital from time to time, up to an aggregate of $80 million, through the sale of common and preferred stock, debt securities, warrants and other securities. Specific terms and prices will be determined at the time of each offering under a separate prospectus supplement, which will be filed with the SEC at the time of the offering.

Thomas R. Quinn, Jr., President and Chief Executive Officer, said “The shelf registration positions our company to take advantage of future expansion and other potential opportunities for growth by giving us the ability to quickly raise capital when the need may arise.”

The registration statement on Form S-3 filed with the SEC has not yet become effective. Securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This news release does not constitute an offer to sell, or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of the securities under the securities laws of that state or jurisdiction. Any offer of securities covered by the registration statement will be made solely by means of a prospectus included in the registration statement and a prospectus supplement with respect to such offering.

With over $1 billion in assets, the Company 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. The Company’s stock is quoted on the NASDAQ Capital Market under the symbol ORRF.

Certain statements in this release may constitute “forward looking statements” under the Private Securities Litigation Reform Act of 1995, which involve risk and uncertainties. The Company’s actual results may differ significantly from the results discussed in such forward-looking statements. Factors that might cause such a difference include, but are not limited to, economic conditions, competition in the geographic and business areas in which the Company conducts its operations, fluctuations in interest rates, credit quality, and government regulation.

Orrstown Financial Services, Inc. Posts Record Earnings, First Quarter Dividend

2010-01-28T11:43:00.001-05:00

Highlights for Orrstown Financial Services, Inc.:

· Record 2009 earnings of $13,373,000
· Continued trend of annual dividend increases
· Primary earnings per share increase 2.5% in 2009 vs. 2008
· Net interest income increases 21.9% in Q4-2009 vs. Q4-2008
· Net interest margin 3.70% in Q4-2009, 7 basis point increase vs. Q3-2009
· Efficiency ratio improves to 53.97% in Q4-2009, 58.85% for year ended 12/31/2009
· Ratio of non-performing loans/end of period loans of 1.18%, net charge offs/average loans of 0.11%

Orrstown Financial Services, Inc. Posts Record Earnings, Announces First Quarter Dividend

Shippensburg, PA (January 28, 2010) – Orrstown Financial Services, Inc. (NASDAQ: ORRF) is pleased to announce net operating results for the fourth quarter and the twelve months ended December 31, 2009.

Commenting on the results, Thomas R. Quinn, Jr., President and Chief Executive Officer, stated, “In 2009, we posted the strongest annual net income in bank history, an improvement of 2.1% over our 2008 mark.” Net Income at year end was $13,373,000, resulting in primary earnings per share of $2.09, a 2.5% increase over last year’s $2.04 per share. Mr. Quinn continued, “While many banks reduced or eliminated dividends this year, Orrstown Financial increased its dividend per share from $.87 last year to $.88 in 2009. The Company also demonstrated significant improvements in expense control and the generation of net interest income, reflected by an efficiency ratio of 53.97% at the end of the fourth quarter compared to 60.70% through the first nine months of the year.” For the year ended 12/31/2009 the efficiency ratio was 58.85%.

As a result of the Company’s continued growth, net interest income for the fourth quarter of 2009 was $10,257,000; an increase of 21.9% over the $8,416,000 realized during the same quarter in 2008. Non-interest income showed an increase of 31.7%, while non-interest expenses rose 9.9%. During the fourth quarter of 2009, the net interest margin remained the same at 3.70%, vs. fourth quarter 2008. This compares favorably to the 3.63% net interest margin realized during third quarter 2009. Balance sheet growth of 13.8% during the year resulted in total assets reaching $1.196 billion as of December 31, 2009. In recognition of sustained loan growth and a continuation of its historically prudent approach, the Company added $3,600,000 to its loan loss reserve in the fourth quarter. This raised the loan loss reserve to 1.26% of loans, up from 0.87% one year earlier. Commenting on the Bank’s loan portfolio Mr. Quinn stated, “Our ratio of non-performing loans to end of period loans of 1.18% and net charge offs to average loans of 0.11% are well below peers and demonstrate our continued focus on credit quality and risk mitigation.” As a result, net income for the fourth quarter 2009 decreased 2.4% to $3,014,000 from $3,087,000 during the same period last year. An increase of $982,000 in FDIC expenses in 2009, due to higher premiums and a special assessment, also impacted earnings. Mr. Quinn stated, “Despite our FDIC costs increasing from $296,000 in 2008 to $1,278,000 this year, the Company improved net income in 2009.”

The Board of Directors approved a first quarter cash dividend of $.22 per share for shareholders of record on February 12, 2010. The dividend will be paid on February 24, 2010.

With over $1 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 quoted on the NASDAQ Capital Market under the symbol ORRF.

Certain statements in this release may constitute “forward looking statements” under the Private Securities Litigation Reform Act of 1995, which involve risk and uncertainties. Orrstown Financial’s actual results may differ significantly from the results discussed in such forward-looking statements. Factors that might cause such a difference include, but are not limited to, economic conditions, competition in the geographic and business areas in which Orrstown Financial conducts its operations, fluctuations in interest rates, credit quality, and government regulation.

Orrstown Bank Welcomes Michael Line!

2010-01-25T15:18:00.002-05:00

Shippensburg, PA (January 25, 2010) – Orrstown Bank welcomes Michael C. Line, Assistant Vice President, Business Development Officer. Mr. Line will be based out of the Bank’s office in Hagerstown, MD, located off Eastern Boulevard and will be responsible for commercial lending and commercial relationship management.

Previously employed by PNC Bank as well as Sovereign Bank, Michael has over 13 years of experience in the financial services industry. A graduate of Hagerstown Community College, the Central Atlantic Advanced School of Banking at Bucknell University, and Leadership Hagerstown, Line is actively involved in the community as the treasurer of the Funkstown Lions Club. He currently resides in Hagerstown, MD.

Gary Holder Assumes Role as Senior Vice President, Chief Retail Officer

2010-01-06T10:07:00.002-05:00

Shippensburg, PA (January 6, 2010) – Orrstown Bank is pleased to announce that Mr. Gary R. Holder has assumed the role of Senior Vice President, Chief Retail Officer for the organization. Mr. Holder is responsible for overseeing all twenty-one Orrstown Bank retail branches and is based out of the Bank’s King Street, Shippensburg office.

Mr. Holder has been with Orrstown Bank since 2003 and was most recently Vice President, Regional Senior Loan Officer for the Company’s West Shore region. In addition to his outstanding service with Orrstown Bank and 16 years of service in the banking industry, Gary brings an impressive background in retail banking to the organization.

Mr. Holder was previously employed with Lloyds TSB Bank, UK for 10 years and has earned a variety of educational diplomas and certifications, including Financial Planning Certificate parts 1, 2, and 3 (U.K. national accreditation). He is a graduate of the Management Development Program, Central Atlantic School of Commercial Lending, and ABA National School of Commercial Lending.

###

Orrstown Bank Welcomes Zach Flynn!

2010-01-05T12:24:00.003-05:00

Shippensburg, PA (January 4, 2010) – Orrstown Bank is pleased to announce that Zachary M. Flynn, has joined the company as a Senior Vice President, Regional Senior Loan Officer overseeing the commercial development efforts of the West Shore region for Orrstown Bank.

Prior to joining Orrstown Bank, Mr. Flynn was the Capital Region President for Susquehanna Bank and brings over 25 years of commercial banking experience. His experience covers the breath of commercial real estate, wealth management and commercial banking. His combined education and experience allows him to make valued contributions to the Bank’s clients and prospects.

Zachary holds a Bachelor of Science degree from Clarion University of Pennsylvania, Clarion, PA in Real Estate. Mr. Flynn has been actively involved in the community through his volunteer work with West Shore YMCA, the Cumberland Valley Midget Football Association, The Second Mile, the Children’s Playroom, as well as non-profit organizations such as the United Way of the Capital Region and the MS Society. Zach was also a Leadership Harrisburg Class of 2000 graduate.

Orrstown Bank Announces Employee Promotions

2009-11-24T08:49:00.002-05:00

Shippensburg, PA (November 23, 2009) – Orrstown Bank is pleased to announce the following employee promotions:

Bridget Burnhisel has been promoted to the position of Management Reporting Officer. Bridget has been employed with Orrstown Bank since May of 2001 when she was hired as Pool Teller. In March of 2004, she applied for and accepted the Administrative Assistant for the Loan Department. In May of 2007, Bridget accepted a position as a Training Associate. She joined the Finance department in August of 2008 as the Finance Administrative Assistant. In August 2009, she was promoted to Staff Accountant III. Bridget graduated with a Bachelor's degree in Elementary/Early Childhood Education from Shippensburg University in 2002.

Wendy Stewart has been promoted to the position of Financial Reporting Officer. Wendy began her career with Orrstown Bank in May 2005 as an Intern in the Finance department. She was hired as a Staff Accountant in the Finance department in May 2006. In August 2009, she was promoted to Staff Accountant III. Wendy graduated from Shippensburg University with a Bachelor's degree in Business Administration with a major in Finance. She lives in Chambersburg.

Stephanie Peffer has been promoted to the position of Investment Officer I. Stephanie began her banking career with Orrstown Bank in June 2005 as a Management Trainee. In May of 2006 she was promoted to an Investment Assistant with Orrstown Financial Advisors. In June of 2007 she was promoted to a Portfolio Associate I. In June of 2009, Stephanie was promoted to Portfolio Associate II up her graduation from a three year program through Cannon Financial earning the designation of an Accredited Fiduciary Investment Manager (AFIM). She has a Master's Degree in Organizational Development and a Bachelor's degree in Social Work, both from Shippensburg University.

Holly Mitchell has been promoted to the position of Compensation & Benefits Officer. Holly began her career with Orrstown Bank in September of 2002 as a Pool Teller. In the Fall of 2005 Holly was promoted to the position of Payroll/Administrative Associate. In August of 2008, she was promoted to the Compensation & Benefits Administrator. Holly earned her certification as a Professional in Human Resources (PHR) in May of 2009 from the Human Resources Certification Institute. She has a Bachelor's degree in Business Administration from Shippensburg University.

Did You Know...

2009-11-09T13:27:00.003-05:00

Orrstown Financial Services, Inc. Announces Continued Earnings Improvement in the Third Quarter and Fourth Quarter Dividend

2009-10-29T12:18:00.004-04:00

Shippensburg, PA (October 29, 2009) – Orrstown Financial Services, Inc. (NASDAQ: ORRF) is pleased to announce net operating results for the third quarter and the nine months ended September 30, 2009.

Commenting on the third quarter results, Thomas R. Quinn, Jr., President and Chief Executive Officer, stated, “We continued the trend of consistent sequential quarter-over-quarter progress, and were extremely pleased with our steadily improving results and metrics. We increased net income by $426,000, or 12.33%, when comparing third quarter 2009 results to second quarter 2009 results. We also grew primary earnings per share from $.54 to $.61 and diluted earnings per share from $.51 to $.58 within the same time frame. Net interest income advanced 7.57% from $8,812,000 during the second quarter 2009 to $9,479,000 in the third quarter.

Net interest margin continued to increase, advancing six basis points, from 3.57% to 3.63%, following a 17 basis point increase the previous quarter. Return on assets improved 10 basis points to 1.36%, vs. the previous quarter, and return on equity grew 1.19% to 14.33% during that same period. In the third quarter we added $750,000 to our loan loss reserve due to continued loan growth and a continuation of our historical prudent approach. This raised our loan loss reserve to 0.92% of loans, up from 0.84% one year earlier. However, our ratio of non performing loans to average loans of 0.55% is still well below peers and demonstrates our continued focus on credit quality. The Company also demonstrated significant improvements in expense control, reflected by an efficiency ratio of 57.22% at the end of the third quarter compared to 62.64% at mid-year.”

Net income for the third quarter 2009 increased 22.7% to $3,880,000 from $3,163,000 during the same period last year. Primary earnings per share were $.61 for third quarter 2009 compared to $.49 per share for third quarter 2008. As a result of the Company’s continued robust growth, net interest income for the third quarter of 2009 was $9,479,000; an increase of 12.7% over the $8,408,000 realized during the same quarter in 2008. Non-interest income showed an increase of 17.9%, while non-interest expenses rose 10.0%.

During the third quarter of 2009, the net interest margin compressed 27 basis points, to 3.63%, versus third quarter 2008. This compares favorably, however, to the 3.57% net interest margin realized during the second quarter 2009. Balance sheet growth of 15.1% over last year resulted in total assets reaching $1.160 billion as of September 30, 2009.

Year over year comparisons also demonstrated solid progress. Net income for the nine months ended September 30, 2009 was $10,359,000, a 3.4% increase from the $10,016,000 earned during the nine months of 2008. Primary earnings per share increased from $1.56 during the first nine months of 2008 to $1.62 in 2009. Year-to-date net interest income for 2009 increased to $26,313,000 from $24,488,000, a 7.5% increase compared to the first nine months of 2008, despite the low interest rate environment. For the first nine months of 2009, the net interest margin compressed 40 basis points to 3.53%.

The Board of Directors approved the fourth quarter cash dividend of $.22 per share for shareholders of record on November 13, 2009. The dividend will be paid on November 25, 2009. For the full year, the Company’s cash dividend has increased 1.1% from $.87 per share to $.88 per share.

With over $1 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 quoted on the NASDAQ Capital Market under the symbol ORRF.

Certain statements in this release may constitute “forward looking statements” under the Private Securities Litigation Reform Act of 1995, which involve risk and uncertainties. Orrstown Financial’s actual results may differ significantly from the results discussed in such forward-looking statements. Factors that might cause such a difference include, but are not limited to, economic conditions, competition in the geographic and business areas in which Orrstown Financial conducts its operations, fluctuations in interest rates, credit quality, and government regulation.

# # #

Orrstown Financial Services, Inc. Rings Closing Bell at NASDAQ

2009-10-27T18:21:00.006-04:00

Shippensburg, PA (October 27, 2009) – Orrstown Financial Services, Inc. (NASDAQ: ORRF) had the distinct honor of ringing the closing bell at NASDAQ’s MarketSite Times Square Studio on Monday, October 19, 2009. Thomas R. Quinn, Jr., President and CEO of Orrstown Financial Services, Inc. presided over the ceremony. Joel R. Zullinger, Chairman of the Board, and Kenneth R. Shoemaker, President Emeritus, joined Mr. Quinn to close the market. Guests included the Orrstown Financial Services, Inc. Board of Directors, the Orrstown Bank Executive Management Team, employees and family.

Thomas R. Quinn, Jr. commented “On behalf of the entire Orrstown Bank team, we were honored to have had the opportunity to close the market earlier this week. The dedication and hard work of the Board of Directors and all of our employees has been instrumental in helping the Company reach this milestone.”

With over $1 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 quoted on the NASDAQ Capital Market under the symbol ORRF.

Certain statements in this release may constitute “forward looking statements” under the Private Securities Litigation Reform Act of 1995, which involve risk and uncertainties. Orrstown Financial’s actual results may differ significantly from the results discussed in such forward-looking statements. Factors that might cause such a difference include, but are not limited to, economic conditions, competition in the geographic and business areas in which Orrstown Financial conducts its operations, fluctuations in interest rates, credit quality, and government regulation.

Orrstown Bank Supports the United Way

2009-10-21T09:30:00.002-04:00

Shippensburg, PA (October 21, 2009) – Orrstown Bank President and CEO Thomas R. Quinn, Jr. presented a check to Sheryl Perkins and Dan Baer, United Way Board Members and Orrstown Bank employees on October 13, 2009. The check represented the $11,092.95 raised by Orrstown Bank employees for the Shippensburg United Way.

Mr. Quinn commented, “It’s a privilege to work for an organization that maintains a strong connection to the community. Our employees continue to donate their time and money to support the communities they live and work in, and I couldn’t be more proud to present this check to the United Way on behalf of Orrstown Bank.”

Orrstown Financial Services, Inc Recognized by Sandler O'Neill + Partners

2009-09-30T13:22:00.001-04:00

Shippensburg, PA (September 30, 2009) – Orrstown Financial Services, Inc. (NASDAQ: ORRF) is pleased to announced that it has been selected by Sandler O’Neill + Partners as one of the top performing small-cap banks in the country. The 30 institutions that comprise Sandler O’Neill’s “2009 Bank & Thrift Sm-All Stars” were chosen from a universe of 509 publicly traded banks and thrifts with market capitalizations of less than $2 billion.

Dan Arnold, Associate Director – Equity Research at Sandler O’Neill commented, “Our 2009 Sm-All Stars have performed exceptionally well in a difficult banking environment and represent some of the top performing banks and thrifts in the nation.” Thomas R. Quinn, Jr., President & CEO of Orrstown Financial Services, Inc. added, “We’re honored to be recognized by one of the pre-eminent investment banking firms for our strong performance. The guidance of the Board of Directors and the strength of our entire management team have been instrumental in the success of the organization. We have a great track record and we believe the best is yet to come.”

The Sandler O’Neill + Partners survey analyzed growth, profitability, credit quality, and capital strength. Companies were evaluated based on absolute performance in eight financial variables:
(1) EPS, (2) loans, (3) deposits, (4) return on average equity, (5) nonperforming assets to loans plus OREO ratio, (6) net charge-off ratio, (7) reserve to nonperforming assets ratio and (8) Tier 1 risk-based capital ratio. To earn “Sm-All Star” status, the banks and thrifts needed to be at or above the peer median for the first seven metrics surveyed, plus be considered “Well Capitalized” per the Tier 1 risk-based capital ratio.
Sandler O'Neill is a full-service investment banking firm to the financial industry. The firm is a market-maker in hundreds of financial stocks and publishes equity and fixed income research focused on selected banks, thrifts and insurance companies, including equity research coverage on Alliance. Additional information can be found on their website at www.sandleroneill.com.

With over $1 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 quoted on the NASDAQ Capital Market under the symbol ORRF.

Certain statements in this release may constitute “forward looking statements” under the Private Securities Litigation Reform Act of 1995, which involve risk and uncertainties. Orrstown Financial’s actual results may differ significantly from the results discussed in such forward-looking statements. Factors that might cause such a difference include, but are not limited to, economic conditions, competition in the geographic and business areas in which Orrstown Financial conducts its operations, fluctuations in interest rates, credit quality, and government regulation.

Orrstown Financial Advisors Welcomes Diane Cordell

2009-09-30T13:20:00.000-04:00

Shippensburg, PA (September 21, 2009) – Orrstown Financial Advisors is pleased to announce that Diane Cordell has joined the Company as a Trust Officer. Diane will be based out of the Bank’s Greencastle office and will specialize in Account Administration and Estate Settlement.

Barb Brobst, Senior Vice President and Trust Officer said “We are excited to add Diane to our team in Greencastle. A longtime resident of Greencastle, her experience as a Trust Officer at other financial institutions will greatly benefit our clients.”

Cordell is a graduate of Waynesboro Area High School and has nearly 25 years of experience in the trust and financial industries. Diane has also graduated from the Central Atlantic School of Trust at Bucknell University, and has completed a variety of American Institute of Bankers courses as well as paralegal courses at Penn State, Mont Alto. Diane currently resides in Greencastle with her husband, John.

Orrstown Financial Advisors, a division of Orrstown Bank, 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 $600 million in assets with a staff of more than 30 professionals.

With over $1 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 quoted on the NASDAQ Capital Market under the symbol ORRF.

Orrstown Bank Welcomes Terry Barbuzanes

2009-09-17T19:27:00.004-04:00

Shippensburg, PA, September 16, 2009 – Orrstown Bank is pleased to announce that Terry Barbuzanes has joined the Company as a Mortgage Originator. Terry will serve the Bank’s Greencastle market.

Tom Quinn, President and Chief Executive Officer said “We are excited to add Terry to our team in Greencastle. Her experience in the mortgage and banking industries over the last 20 years in Greencastle will greatly benefit our clients.”

Barbuzanes is a graduate of Greencastle-Antrim High School. She is also a graduate of the Central Atlantic School of Banking at Dickinson College, the Bucknell School of Banking, and has completed various Pennsylvania Bankers Association and paralegal courses. Actively involved in the community, Terry is a Board Member of the American Heart Association for the Franklin-Fulton Division, a member of the Greencastle-Antrim Chamber of Commerce, and a team participant in the annual American Heart Walk and American Cancer Society Relay for Life.

Orrstown Bank Welcomes Joyce Hafer!

2009-09-14T12:44:00.001-04:00

Shippensburg, PA, September 11, 2009 – Orrstown Bank is pleased to announce that Joyce Hafer has joined the Company as a Mortgage Originator. Joyce will serve the Bank’s Perry County market.

Tom Quinn, President and Chief Executive Officer said “We are excited to add Joyce to our team in Perry County. Her experience in the mortgage and banking industries will greatly benefit our clients.”

Hafer is a graduate of Kutztown University and has 23 years of experience in the mortgage industry and 26 years of experience in the banking industry. She was voted the 2006 Affiliate of the Year through the Harrisburg Board of Realtors, where she is a member. Joyce is also proud to be a member of Trinity Lutheran Church in Mechanicsburg and the National Association of Female Executives. Joyce currently resides in Mechanicsburg with her husband, John.

Orrstown Financial Advisors Welcomes Ben Walters!

2009-09-14T12:39:00.002-04:00

Shippensburg, PA, September 8, 2009 – Orrstown Financial Advisors is pleased to announce that Benjamin Walters has joined the Company as a Financial Advisor. Ben will serve the Bank’s Hagerstown, Greencastle, and Chambersburg markets.

Barb Brobst, Senior Vice President and Trust Officer said “We are excited to add Ben to our team of Financial Advisors. His experience in the financial industry and as an insurance agent will greatly benefit our clients.”

A long time local resident, Ben has more than 10 years of experience in the financial services industry and holds the Series 7 license in addition to accident, health, life, disability, property and casualty insurance licenses.

Orrstown Financial Advisors, a division of Orrstown Bank, 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 $600 million in assets with a staff of more than 30 professionals.

Orrstown Bank Welcomes Bill Feist

2009-09-14T12:33:00.003-04:00

Shippensburg, PA, September 11, 2009 – Orrstown Bank is pleased to announce that Bill Feist has joined the Company as a Vice President, Business Development Officer. Bill will serve the Bank’s West Shore market.

Tom Quinn, President and Chief Executive Officer said “We are excited to add Bill to our team on the West Shore. With over ten years of experience in the business banking field, Mr. Feist brings a wealth of knowledge and experience to our business clients.”

Feist is a graduate of Shippensburg University. He is also a graduate of the Central Atlantic Advanced School of Banking and a 2004 graduate of Leadership Harrisburg. Actively involved in the community, Mr. Feist is currently the Vice President of the Sylvan Heights Science Charter School, Chair of Community Projects for the United Way of the Capital Region Bridges Society, a member of the Industrial, Commercial, and Investment Council of the Greater Harrisburg Association of Realtors, and serves as the assistant coach for the Redland Comets U9 Girls traveling soccer team.

Chris Jackson Promoted to VP, Controller & Investor Relations Officer

2009-08-25T10:44:00.000-04:00

Shippensburg, PA, August 25, 2009 – Orrstown Bank (NASDAQ: ORRF) is pleased to announce that Mr. Chris Jackson has been promoted to Vice President, Controller and Investor Relations Officer in the Bank’s Finance Department. Hired as a Trust Administrator, Chris began his career with Orrstown Bank in February 2001. In 2002, Chris was promoted to Portfolio Manager and later promoted to Assistant Vice President and Portfolio Manager. In 2007 Chris achieved Vice President status.

Tom Quinn, President and CEO commented: “Throughout his tenure Chris has demonstrated exemplary skills and ability. He brings a level of experience and expertise to his new roles that will be critical to the Company's mission, particularly following our recent listing on the NASDAQ Capital Market.”

As a graduate of Shippensburg University, Chris earned a Bachelor's degree in Business Administration, majoring in Accounting.

With over $1 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 quoted on the NASDAQ Capital Market under the symbol ORRF.

ORRSTOWN FINANCIAL SERVICES, INC. ANNOUNCES REINSTATEMENT OF VOLUNTARY CASH CONTRIBUTION INVESTMENT OPTION

2009-08-25T10:41:00.000-04:00

Shippensburg, PA (August 24, 2009) Orrstown Financial Services, Inc. (NASDAQ: ORRF) is pleased to announce the
reinstatement as of September 1, 2009 of the Voluntary Cash Contribution investment option under its Stockholder Dividend Reinvestment and Stock Purchase Plan. The Voluntary Cash Contribution investment option is being reinstated on the same terms as were in effect at the time of its suspension in 2002. Plan participants will again be permitted to make voluntary cash contributions to be applied to the purchase of shares of Orrstown common stock on a quarterly basis, with such contributions not to be less than $100 or exceed $2,500 per quarter. The Company anticipates distributing to its shareholders materials related to the reinstatement of the Voluntary Cash Contribution investment option within the next several days.

With over $1 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 quoted on the NASDAQ Capital Market under the symbol ORRF.

Certain statements in this release may constitute “forward looking statements” under the Private Securities Litigation Reform Act of 1995, which involve risk and uncertainties. Orrstown Financial’s actual results may differ significantly from the results discussed in such forward-looking statements. Factors that might cause such a difference include, but are not limited to, economic conditions, competition in the geographic and business areas in which Orrstown Financial conducts its operations, fluctuations in interest rates, credit quality, and government regulation.

Orrstown Bank Welcomes New Tenant at North Pointe Business Center

2009-08-18T19:00:00.001-04:00

Shippensburg, PA (August, 17 2009) – Orrstown Bank (NASDAQ: ORRF) is pleased to welcome Catapult Technology, LTD as the newest tenant at the North Pointe Business Center. A ribbon-cutting held on Thursday, August 13th signified the official opening of Catapult’s 5,600 square foot call center space. Orrstown Bank was represented by John Knutelsky, Facilities Director; Dale Morrow, Maintenance Technician II; and Sonny Putt, Maintenance Technician I.

Catapult Technology, Ltd. (Catapult) is a leading Service-Disabled Veteran-Owned (SDVO) Information Technology (IT) contractor to the federal government and private sector. The call center space supports Catapult’s contract with the General Services Administration on the GSA Infrastructure Technology Global Operations (GITGO) contract valued at $200 million.

John Knutelsky commented: “We are pleased to partner with Catapult as a tenant at North Pointe. Their focus on community employment and their outstanding service record fit well with Orrstown Bank’s commitment to re-investing in our communities.”

The North Pointe Business Center offers an additional 20,000 square feet of building space available for lease. For questions about leasing space at North Pointe, please call John Knutelsky at 717.709.3076.

Orrstown Bank Foundation, Inc. Awards 10 Scholarships to Local Students

2009-08-10T11:39:00.004-04:00

Shippensburg, PA (August, 10 2009) – Thomas R. Quinn, Jr., President & Chief Executive Officer of Orrstown Bank (NASDAQ: ORRF) announced the winners of the Orrstown Bank Foundation, Inc. $1,000 scholarships. The young men and women were chosen for their academic achievement, test scores, service to school and community, leadership, potential, and financial need.

Mr. Quinn noted, “The 10 individuals who were awarded scholarships this year are exceptional individuals who exemplify commitment to education and community. We are honored to have the opportunity to help these students realize their dreams, and wish them the best of luck in their academic endeavors.”

The 2009 winners:
Matthew Barnhart is a graduate of Greencastle-Antrim High School in Greencastle, PA. Matthew will be attending George Mason University.

Amy Crider, a Greencastle-Antrim High School graduate, will be attending Grove City College in the fall.

Big Spring High School student Kelly Fahnestock will attend the Lebanon Valley College.

Courtney Fernelius of Shippensburg Area Senior High School plans to attend Brigham Young University.

Philip Heberlig is a graduate of Shippensburg Area Senior High School. Philip will be attending The Pennsylvania State University, main campus.

Michael Henry, a Cumberland Valley High School graduate, will be attending The Pennsylvania State University.

Newport High School graduate Elena Popchock will attend Juniata College.

Janelle Sadarananda of Camp Hill High School plans to attend the University of Richmond.

Adam Wennick, a Chambersburg Area Senior High School graduate, will be attending Bucknell University.

Cara Wiest is a graduate of Cumberland Valley High School. Cara will be attending The Pennsylvania State University.

With over $1 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 quoted on the NASDAQ Capital Market under the symbol ORRF.

Pictured L-R:
Kelly Fahnestock, Philip Heberlig, Mr. Tom Quinn, Elena Popchock, Courtney Fernelius

Orrstown Bank Supports Future Farmers of America

2009-08-03T09:35:00.000-04:00

Shippensburg, PA (August 3, 2009) – Orrstown Bank is proud to announce its continued support of the Cumberland County Future Farmers of America (FFA). The Bank purchased a goat from Dale Shoop, a goat from Abby Finkenbinder, and a swine from Caleb Grove at the 30th Anniversary Market Animal Sale at the Shippensburg Fair.

The National FFA Organization is dedicated to making a positive difference in the lives of students by developing their potential for premier leadership, personal growth and career success through agricultural education.

With over $1 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 quoted on the NASDAQ Capital Market under the symbol ORRF.

Certain statements in this release may constitute “forward looking statements” under the Private Securities Litigation Reform Act of 1995, which involve risk and uncertainties. Orrstown Financial’s actual results may differ significantly from the results discussed in such forward-looking statements. Factors that might cause such a difference include, but are not limited to, economic conditions, competition in the geographic and business areas in which Orrstown Financial conducts its operations, fluctuations in interest rates, credit quality, and government regulation.

Orrstown Bank Releases 2nd Quarter Earnings & Third Quarter Dividend

2009-07-30T15:51:00.002-04:00

Shippensburg, PA (July 30, 2009) – Orrstown Financial Services, Inc. (NASDAQ: ORRF) is pleased to announce net operating results for the second quarter and the six months ended June 30, 2009.

Commenting on the second quarter results, Thomas R. Quinn, Jr., President and Chief Executive Officer, stated, “We were extremely pleased by our sequential, quarter over quarter, improvement. We increased net income by $429,000, or 14.18%, when comparing second quarter 2009 results to first quarter 2009 results. We also grew primary earnings per share from $.47 to $.54 and diluted earnings per share from $.45 to $.51 within the same time frame. Net interest income advanced 9.85% from $8,022,000 during first quarter 2009 to $8,812,000 in the second quarter. Net interest margin increased 17 basis points, from 3.40% to 3.57%, and return on assets advanced from 1.15% to 1.26%, quarter over quarter. These gains were achieved even though we incurred an additional expense of $517,000 as a result of the special FDIC assessment. Although non-performing loans increased slightly from the first quarter 2009, the ratio of non-performing loans to average loans outstanding remains below 1.00%, demonstrating our continuing focus on credit quality. Despite a stagnant economy and difficult national banking environment, we continue to outperform our peers and believe we are well positioned to take advantage of the opportunities that lie ahead.”

Net income for the second quarter 2009 declined 4.1% to $3,454,000 from $3,603,000 during the same period last year. Primary earnings per share were $.54 for second quarter 2009 compared to $.56 per share for second quarter 2008. As a result of our continued robust growth, net interest income for the second quarter of 2009 was $8,812,000; an increase of 7.9% over the $8,164,000 realized during the same quarter in 2008. Non-interest income showed an increase of 5.0%, while non-interest expenses rose 21.2%, to a large extent as a result of the aforementioned special FDIC assessment. The second quarter loan loss provision increased to $300,000, compared to $257,000 for second quarter 2008.

During the second quarter of 2009, the net interest margin compressed 40 basis points, to 3.57%, versus second quarter 2008. This compares favorably, however, to the 3.40% net interest margin realized during first quarter 2009. Balance sheet growth of 18.5% over last year resulted in total assets reaching $1.113 billion as of June 30, 2009.

Net income for the six months ended June 30, 2009 was $6,479,000, a 5.5% decrease from the $6,853,000 earned during the first half of 2008. Primary earnings per share decreased from $1.07 during the first six months of 2008 to $1.01 in 2009. Year-to-date net interest income for 2009 increased to $16,834,000 from $16,081,000, a 4.7% increase compared to the first half of 2008, despite the low interest rate environment. For the first six months of 2009, the net interest margin compressed 45 basis points to 3.49%.

The Board of Directors approved the third quarter cash dividend of $.22 per share for shareholders of record on August 14, 2009. The dividend will be paid on August 26, 2009. Through three quarters, the Company’s cash dividend has increased 1.5% from $.65 per share to $.66 per share.

With over $1 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 quoted on the NASDAQ Capital Market under the symbol ORRF.

Certain statements in this release may constitute “forward looking statements” under the Private Securities Litigation Reform Act of 1995, which involve risk and uncertainties. Orrstown Financial’s actual results may differ significantly from the results discussed in such forward-looking statements. Factors that might cause such a difference include, but are not limited to, economic conditions, competition in the geographic and business areas in which Orrstown Financial conducts its operations, fluctuations in interest rates, credit quality, and government regulation.

# # #

Orrstown Financial Advisors: Dan Baer Earns CTFA Designation

2009-07-17T14:38:00.000-04:00

Shippensburg, PA, July 1, 2009 – Orrstown Financial Advisors is pleased to announce that the American Bankers Association has awarded Dan Baer the Certified Trust and Financial Advisor (CTFA) designation. The Certified Trust and Financial Advisor certification is designed to:Establish a recognized standard of knowledge and competence for the trust and wealth advisory field, formally recognize those who meet these standards, provide employers and clients with a tool to identify skilled, knowledgeable professionals, and support the benefits of professional continuing education and development.

Barb Brobst, Senior Vice President and Trust Officer said “ The achievement of this designation is an affirmation of the education and experience that Dan has gained in his tenure with Orrstown Financial Advisors, the Investment Division of Orrstown Bank.”

Dan is currently a Trust Officer and Financial Advisor for Orrstown Financial Advisors. A 1993 graduate of The Pennsylvania State University, Dan is also a 2007 Honors graduate of the Central Atlantic School of Trust sponsored by the Pennsylvania Bankers Association and has recently graduated from the Graduate Trust Program at Emory University, a program sponsored by the American Bankers Association.With more than 8 years of experience, Dan holds both the Series 7 and Series 66 licenses, and specializes in Fiduciary Accounts, Estate Planning, and Estate Settlement.

Orrstown Financial Advisors, a division of Orrstown Bank, 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 $600 million in assets with a staff of 30 professionals.