Orrstown Bank Celebrates Scholarship Recipients

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

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

The 2011 Kenneth R. Shoemaker Leadership Scholarship Recipient:

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

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

The 2011 Orrstown Bank Foundation Scholarship Recipients:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

With over $1.5 billion in assets, Orrstown Financial Services, Inc. and its wholly subsidiary, Orrstown Bank, provide a full range of consumer and business financial services through twenty-one banking offices and two remote service facilities located in Cumberland, Franklin and Perry Counties, Pennsylvania and Washington County, Maryland.  Orrstown Financial Services, Inc.’s stock is quoted on the NASDAQ Capital Market under the symbol ORRF.

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

Robert J. Russoli

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

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

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

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

With over $1.5 billion in assets, Orrstown Financial Services, Inc. and its wholly-owned subsidiary, Orrstown Bank, provide a full range of consumer and business financial services through twenty-one banking offices and two remote service facilities located in Cumberland, Franklin and Perry Counties, Pennsylvania and Washington County, Maryland. Orrstown Financial Services, Inc.’s stock is traded on the NASDAQ Capital Market under the symbol ORRF.

Orrstown Financial Services, Inc. Announces Executive Level Promotions and Appointments

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

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

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

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

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

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

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

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

With over $1.5 billion in assets, Orrstown Financial Services, Inc. and its wholly-owned subsidiary, Orrstown Bank, provide a full range of consumer and business financial services through twenty-one banking offices and two remote service facilities located in Cumberland, Franklin and Perry Counties, Pennsylvania and Washington County, Maryland. Orrstown Financial Services, Inc.’s stock is traded on the NASDAQ Capital Market under the symbol ORRF.

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