Orrstown Bank Announces Addition of Three New Commercial Lenders in Lancaster, Pennsylvania

SHIPPENSBURG, Pa., May 10, 2016 (GLOBE NEWSWIRE) -- Today Orrstown Bank, a wholly-owned subsidiary of Orrstown Financial Services, Inc. (Nasdaq:ORRF), announced that Commercial Lenders Adam Althouse, Tom Cislo, and Brandon Leaman recently joined the Bank. The three new Commercial and Industrial Lenders join current team member Sam Smith and will be based at Orrstown’s recently announced regional facility at 1800 Fruitville Pike in Lancaster.

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The three newest additions to the Orrstown Bank team have a combined 58 years of experience at larger institutions including Susquehanna Bank, National Penn Bank, and Metro Bank.

Thomas R. Quinn, Jr., President & CEO, commented, “We are extremely fortunate to welcome three such talented individuals to the organization. We recognize that there are many clients looking to fill the void in the community banking space that has occurred because of recent market disruption and believe Adam, Tom, and Brandon, along with Sam Smith, will capably meet the needs of the business community in the region.”

  • Adam Althouse, VP / C&I Relationship Manager, is a highly experienced lender with previous responsibility for Lancaster, Southern Berks, and Western Chester County markets. Most recently he held a similar position with BB&T and its predecessor National Penn Bank.
  • Tom Cislo, VP / C&I Relationship Manager, has more than 36 years’ experience in the region, most recently with BB&T and its predecessor Susquehanna Bank.
  • Brandon Leaman, VP / C&I Relationship Manager, is also highly experienced and his background includes similar positions at BB&T and its predecessor Susquehanna Bank, as well as Metro Bank in Lancaster and Dauphin Counties.

Mr. Quinn continued, “Our first office in Lancaster County generated more than $134 million in new loan business in less than two years and we believe there is opportunity for significant additional growth as we further expand our presence in this vibrant and growing market.”

With about $1.3 billion in assets, Orrstown Financial Services, Inc. and its wholly-owned subsidiary, Orrstown Bank, provide a full range of financial services through 22 locations throughout Pennsylvania and 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). More information available at www.orrstown.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 mbayer@orrstown.com

Source:Orrstown Financial Services, Inc.