Orrstown Bank Announces Branch Realignment in Carlisle, Pennsylvania

SHIPPENSBURG, Pa., Jan. 26, 2017 -- Orrstown Financial Services, Inc. (the “Company”) (NASDAQ:ORRF), the parent company of Orrstown Bank (the “Bank”) and Wheatland Advisors, Inc. ("Wheatland"), announced today that it will close its branch at 2250 Spring Road in Carlisle on April 28, 2017.  In addition, it will also close the seasonal facility at 1000 Bryn Mawr Road, the Carlisle Events ‘Car Show’ branch, on May 18, 2017.

Thomas R. Quinn, Jr., President & CEO, commented, “We have three convenient full service branches located in close proximity to the facilities we are closing and much of the customer traffic had migrated to those locations as the market matured.  We constantly evaluate all of our delivery channels based on client traffic, demand for loans and deposits, and other industry metrics and trends.”

In December 2016 the Company announced that it had acquired Wheatland Advisors, Inc., a registered investment advisor firm in downtown Lancaster.  Recently Orrstown Bank also announced the construction of a new branch on the Manheim Pike in Lancaster, slated to open at the beginning of the second quarter, and another Lancaster County branch in New Holland, opening in August 2017.  Orrstown Bank also opened two new Loan Production Office facilities in Lancaster and Berks Counties in 2016.

Mr. Quinn continued, “We believe in the community banking model and will continue to deploy capital to enhance our franchise.  Our two new branches in Lancaster County, and the two we opened last year in Camp Hill and Harrisburg, combine a traditional client experience with advanced technology to address changing banking preferences and we will continue to explore additional opportunities to meet the needs of the vibrant Carlisle market.”

The current employees at the affected Carlisle branches have the opportunity to work at other nearby locations in similar roles and based on current vacancies are expected to be retained.

About the Company
With over $1.4 billion in assets, Orrstown Financial Services, Inc. and its wholly-owned subsidiaries, Orrstown Bank and Wheatland Advisors, Inc., provide a wide range of consumer and business financial services through 26 banking and financial advisory offices in Berks, Cumberland, Dauphin, Franklin, Lancaster and Perry Counties, Pennsylvania and Washington County, Maryland.  Orrstown Bank is an Equal Housing Lender and its deposits are insured up to the legal maximum by the FDIC.  Orrstown Financial Services, Inc.’s stock is traded on Nasdaq (ORRF).  For more information about Orrstown Financial Services, Inc. and Orrstown Bank, visit www.orrstown.com. For more information about Wheatland Advisors, Inc., visit www.wheatlandadvisors.com.

Cautionary Note Regarding Forward-looking Statements: This news release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.  Forward-looking statements are statements that include projections, predictions, expectations, or beliefs about events or results or otherwise are not statements of historical facts.

Contact:
Mark Bayer
SVP/Strategic Corporate Initiatives
P (717) 530-2297
[email protected]