Orrstown Financial Services, Inc. Surveillance Report
Company Profile
Orrstown Financial Services, Inc. (NASDAQ: ORRF) (“Orrstown” or “the company”) is a diversified $5.5 billion-asset bank holding company headquartered in Harrisburg, Pennsylvania, parent of Orrstown Bank (“the bank”), established in 1919. The company operates 45 branches throughout Central and Eastern Pennsylvania as well as the Greater Baltimore area. Complementing ORRF’s traditional lending activities are scalable wealth management ($3.2 billion AUM) and treasury management services.
The company’s growth approach has largely been organic and relationship centered; however, Orrstown has dipped into M&A to help bolster scale across the Pennsylvania and Baltimore, MD markets (three transactions over 105 years). ORRF completed the all-stock merger with York, Pennsylvania-based Codorus Valley Bancorp, Inc. (“Codorus”), the parent company of PeoplesBank (“Peoples”), effective July 1, 2024. The merger added ~$2 billion in total assets and approximately 30…
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