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.”
"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.
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