SHIPPENSBURG, Pa., May 11, 2016 (GLOBE NEWSWIRE) -- Orrstown Bank, a wholly-owned subsidiary of Orrstown Financial Services, Inc. (NASDAQ:ORRF), announced today that it will open a new financial services office at 1800 Fruitville Pike, Lancaster, PA on May 16, 2016.
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The bank will occupy approximately 4,500 square feet of office and customer-meeting space, and the building will serve as a base of operations for the Lancaster Region commercial lending team, as well as representatives of Orrstown’s Trust and Wealth management business, Orrstown Financial Advisors. As part of the lease agreement, Orrstown negotiated significant signage rights on the building. The building is immediately north of Routes 283 and 30 off the Fruitville Pike exit and in close proximity to Orrstown’s existing bank branch on Rohrerstown Road.
Thomas R. Quinn, Jr., President & CEO commented, “The demographics and business opportunities in Lancaster County are strong and the opening of this facility is a measured step in our strategic expansion plan. The disruption in this market is unprecedented and we have already benefitted from additional business opportunities and the attraction of several top performers. Our first branch in Lancaster County, on Rohrestown Road, has already generated more than $134 million in new loans in less than two years and the addition of this new space will support new team members and future expansion.”
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 firstname.lastname@example.org
Source:Orrstown Financial Services, Inc.