Orrstown Bank Announces Employee Promotions

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.

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.

Did You Know...

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

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

(c) 2009, The NASDAQ OMX Group, Inc. Reprinted with permission.

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

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.”

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 Recognized by Sandler O'Neill + Partners

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

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

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.

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 Joyce Hafer!

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.

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 Advisors Welcomes Ben Walters!

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.

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 Bill Feist

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.

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.

Chris Jackson Promoted to VP, Controller & Investor Relations Officer

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

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

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.

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 Foundation, Inc. Awards 10 Scholarships to Local Students

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

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

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

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.

Orrstown Financial Services, Inc. Added To Russell 3000 Index

Shippensburg, PA (June 29, 2009) – Orrstown Financial Services, Inc. (Nasdaq: ORRF) announced today that the Company joined the broad-market Russell 3000® Index on June 26, 2009 when Russell Investments reconstituted its U.S. and global indexes.

“We are pleased to be added to the Russell 3000, the benchmark index of the 3,000 largest U.S. companies,” commented Thomas R. Quinn, Jr., President and CEO of Orrstown Financial Services, Inc. “Orrstown has a great story to tell and the increased exposure to investors should validate our historically strong metrics.”

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. will thus become part of both the Russell 2000 and Russell 3000 indexes.

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 Announces Peter C. Zimmerman's Intention to Retire Effective July 1, 2009

Shippensburg, PA (June 23, 2009) – Thomas R. Quinn, Jr., President & CEO of Orrstown Bank, announced today the retirement of Peter Zimmerman from Orrstown Bank. “Pete has had a tremendous career in the industry and it is with mixed feelings that I announce his decision to retire,” commented Mr. Quinn. “Although we’re losing a really talented individual, the entire team certainly wishes him well during this next phase as he enjoys more time with his friends and family.”

Pete has had an extensive career spanning over thirty-five years in the banking industry. His banking career began in 1974 with the Pennsylvania Department of Banking; a year later he joined the former Financial Trust Co., where he held a number of positions. In 1991, he became President and CEO of Chambersburg Trust Co. He held similar positions with several other banks, including The First National Bank of Newport. First National was acquired by Orrstown Financial Services in 2006 and was merged into Orrstown Bank in 2007. Since 2007, Pete has been serving Orrstown as Executive Vice President & Chief Operations Officer.

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’S MORGAN MILLER, JD PEARL, JEN RICHARD, AND LEE HARTER COMPLETE PBA SCHOOL OF BANKING

(June16, 2009) – Morgan Miller, JD Pearl, Jen Richard, and Lee Harter of Orrstown Bank completed coursework at the 2009 PBA School of Banking, May 31st to June 5th, at the Penn Stater Conference Center in State College, PA.

Morgan has served the banking industry for 10 years. During that time she has held many different positions; starting out as a bank teller and succeeding to a Branch Executive Officer. She is currently responsible for overseeing the day-to-day activities at the Orchard Drive Branch location.

JD has served the Hagerstown banking industry for 9 ½ years. In that time he has served as Customer Service Representative, Assistant Branch Manager and is currently the Branch Executive Officer at Orrstown Bank’s Eastern Boulevard office. In those roles he has worked with all areas of branch banking including retirement, savings, checking and loan accounts.

Jennifer has served the Carlisle banking industry for 1½ years. In that time she has served as Branch Executive Officer at Orrstown Bank’s Stonehedge office located along Walnut Bottom Road. In this role she has worked with all areas of branch banking including retirement, savings, checking and loan accounts.

Lee currently serves as the Branch Executive Officer at Orrstown Bank's Norland Avenue office. In this role he has worked with all areas of branch banking including retirement, savings, checking and loan accounts.

The PBA School of Banking provides students with a broad base of knowledge of the financial services industry, which can be applied in a practical manner. Topics taught at this school cover the banking system, understanding bank financial statements, marketing to customers, compliance, lending, motivation and supervision.The Pennsylvania Bankers Association, located in Harrisburg, PA is Pennsylvania’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 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: ONE OF THE BEST COMMUNITY BANKS IN THE COUNTRY

Shippensburg, PA (June 15, 2009) Orrstown Financial Services, Inc. was ranked the 52nd best performing community bank in the country, according to US Banker magazine. The rankings are based on 3-year average return on equity. Orrstown Bank was the 4th highest ranked Pennsylvania bank.

Tom Quinn, President and CEO commented: “The continuing excellence of our company is a result of the hard work and dedication of our entire team. Despite an economic downturn last year, we remained focused on relationship banking and once again delivered on our mission to help our customers realize their dreams.”

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 Partners with the PBCC for another year!

Orrstown Bank & the PA Breast Cancer Coalition are proud to partner for another year! Orrstown Bank donates money to the PBCC for every new Think Pink Checking account opened. Almost $30,000 have been raised since the account was released in May 2008!

Holly Mitchell Earns PHR Certification

Shippensburg, PA, June 1, 2009 – Steve Caldwell, Director of Human Resources at Orrstown Bank is pleased to announce that Holly Mitchell, Compensation/Benefits Administrator for the Bank recently earned certification as a Professional in Human Resources (PHR). In preparation for the exam she completed a 13 week course with Villanova University in Professional Human Resource Management. The course in combination with her degree from Shippensburg University in Human Resources and her on the job experiences prepared her to successfully sit for this rigorous exam.

The certification, awarded by the HR Certification Institute, signifies that Holly possesses the theoretical knowledge and practical experience in human resource management and the ability to demonstrate a mastery of the body of knowledge in the field.The HR Certification Institute is the credentialing body for human resource professionals and is affiliated with the Society for Human Resource Management (SHRM), the world's largest organization dedicated exclusively to the human resource profession. The Institute's purpose is to promote the establishment of professional standards and to recognize professionals who meet those standards.

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 Employees Raise Money for CVBCA

Shippensburg, PA, May 12, 2009 – Orrstown Bank recently held a fundraiser in honor of fellow employee, Christine Yohe, who was diagnosed in February, 2009 with breast cancer. Christine is from Shippensburg and works at the Bank’s King Street office as a Teller.

The fundraiser was coordinated by King Street employees Heather Fisher, Customer Service Representative & Pamela Varner, Teller. A Longaberger Mug Fundraiser brought in more than $600, as well as cash donations, from Orrstown Bank employees for a total of $1,200. When asked which organization she wanted the money to be given to, Christine chose the Cumberland Valley Breast Care Alliance (CVBCA). CVBCA provides support, education, and information on breast cancer and preventive health care to women and men. Their services are free and all funds are used in this community and surrounding area.

Sharon Brocious, founder of the CVBCA, invited Orrstown Bank to attend the CVBCA Walk/Run, on May 9th, and held a check presentation during the opening ceremonies. Orrstown Bank employees Heather Fisher, Christine Yohe, and Barbara Brobst, as well as Brandi Porter (Christine’s daughter) attended the walk.

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 Celebrates 90th Anniversary

Shippensburg, PA, May 14, 2009 – Thomas R. Quinn, Jr., President and CEO of Orrstown Bank is pleased to announce the celebration of the Bank’s 90th anniversary. The Bank’s offices will celebrate during the week of May 18th.

“In May,1919, Orrstown Bank opened its doors for business in Orrstown, Pennsylvania. Today, Orrstown Financial Services, Inc. has 21 offices located in Cumberland, Franklin and Perry Counties, PA, and Washington County, MD. We’re proud to have continued to serve our communities under the same name and have maintained the tradition of excellence that began in 1919.”

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.

May 26, 2009 - Annual Meeting Update

Following the Annual Meeting of Shareholders held Tuesday, May 5, 2009, the Board of Directors of Orrstown Financial Services, Inc. announced that Thomas R. Quinn, Jr. has been appointed President and Chief Executive Officer of the Company and of its subsidiary, Orrstown Bank. Mr. Quinn, who succeeds Kenneth R. Shoemaker, was also appointed to the Boards of Directors of both Orrstown Financial Services, Inc. and Orrstown Bank. He will fill the unexpired term of Denver L. Tuckey who retired as a Director after the Annual Meeting. It was also announced that Mr. Mark K. Keller was appointed to the Board of Directors of Orrstown Financial Services, Inc. to fill the unexpired term of Peter C. Zimmerman, whose resignation as a Director was accepted at the Board’s Reorganization Meeting. Mr. Keller, who is a member of the Pennsylvania House of Representatives, will continue to serve on the Board of Directors of Orrstown Bank to which he was elected in 2008.

Mr. Quinn began his employment with Orrstown on March 2, 2009 as President Elect. Prior to joining the Company, Mr. Quinn served most recently as President and Chief Executive Officer of Fifth Third Bank’s South Florida Affiliate. Before joining Fifth Third, Mr. Quinn was associated with Citigroup in a variety of executive positions. Tom’s wife Meredith and their five children will be relocating to the area upon the completion of the 2009 school year.Kenneth R. Shoemaker served the Company and Bank as President and Chief Executive Officer for twenty-two years having been appointed in 1987. Under his leadership the bank grew from $73 million in assets to more than $1 billion and increased its market presence from three to twenty-one offices serving Cumberland, Franklin and Perry Counties in Pennsylvania and Washington County, Maryland. During recent years the Company has consistently been recognized as one of the best performing publicly traded banks in the country. Mr. Shoemaker will continue to serve Orrstown as President Emeritus, Corporate Secretary and as a member of the Boards of Directors of the Company and the Bank.

Denver L. Tuckey served as a Director since 1995. He was also Corporate Secretary and chaired the bank’s Property Committee. Commenting on these announcements, Joel R. Zullinger, Chairman of the Board stated: “We are delighted with the appointment of Tom Quinn as President and Chief Executive Officer and are confident that his experience and leadership will help take this company to a new level over the next few years. We congratulate Ken Shoemaker on his retirement and thank him for the substantial contributions he made to this company. We also thank Denver Tuckey and Pete Zimmerman for their dedicated Board service.

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.