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Orrstown Bank Welcomes Chris Orr as Chief Information Officer and Ben Colvard as Chief Operations Officer

1. Orrstown Bank adds two leaders to its executive team. 2. Chris Orr will enhance technology and digital strategy. 3. Ben Colvard focuses on operational excellence and client experiences. 4. Both appointees previously contributed to significant asset growth at Sandy Spring Bank. 5. Leadership expects these changes to drive client-focused banking solutions.

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Why Bullish?

The addition of experienced leaders can drive innovation and growth, influencing ORRF positively.

How important is it?

New leadership is crucial for strategic direction, impacting investor confidence and stock valuation.

Why Long Term?

Leadership changes often take time to reflect in financial performance, suggesting lasting effects.

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Sandy Spring BankORRF
HARRISBURG, Pa., Jan. 16, 2025 (GLOBE NEWSWIRE) -- Orrstown Bank, a wholly owned subsidiary of Orrstown Financial Services, Inc. (NASDAQ:ORRF), is pleased to announce the addition of two accomplished leaders to its executive team. Chris Orr has been appointed as Chief Information Officer, and Ben Colvard joins as Chief Operations Officer. Both bring extensive experience and proven track records of driving innovation and operational excellence within the banking industry. Chris Orr – Chief Information OfficerChris Orr will lead Orrstown Bank’s technology strategy, leveraging nearly 20 years of experience in consulting, software delivery, and banking. Chris previously served as Chief Digital Officer at Sandy Spring Bank, where he implemented a transformative digital strategy, oversaw platform modernization, and integrated software development into the organization. His leadership helped Sandy Spring Bank grow from $4.6 billion to $14 billion in assets through multiple acquisitions. Chris holds a bachelor’s degree in Information Systems and Business Management from the University of Maryland College Park, an MBA in Finance from Loyola College in Maryland, and a Leadership Certificate from The Wharton School. He is also a graduate of the ABA Stonier Graduate School of Banking. Ben Colvard – Chief Operations OfficerBen Colvard will oversee the bank’s operational strategy and ensure alignment of people, processes, and technology to deliver exceptional client experiences. With over 20 years of experience in operational excellence, Ben previously served as Chief Optimization Officer at Sandy Spring Bank, where he played a critical role in the organization’s expansion from $3.5 billion to $14 billion in assets through multiple acquisitions. Ben earned a bachelor’s degree in History with a minor in Economics from Gettysburg College and graduated with honors from the MBA Maryland School of Banking. Leadership Remarks“We are thrilled to welcome Chris and Ben to the Orrstown Bank family,” said Thomas R. Quinn, Jr., President and Chief Executive Officer of Orrstown Bank. “Chris’s visionary leadership in technology and Ben’s experience in operational strategy are the perfect combination to help us deliver on our mission of providing innovative, client-focused banking solutions. Their combined experience will play a vital role in shaping our future success.” About OrrstownOrrstown Financial Services, Inc. and its wholly owned subsidiary, Orrstown Bank, provide a wide range of consumer and business financial services in Adams, Berks, Cumberland, Dauphin, Franklin, Lancaster, Perry, and York Counties, Pennsylvania and Anne Arundel, Baltimore, Howard, and Washington Counties, Maryland, as well as Baltimore City, Maryland. The Company's lending area also includes adjacent counties in Pennsylvania and Maryland, as well as Loudon County, Virginia and Berkeley, Jefferson and Morgan Counties, West Virginia. 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 common stock is traded on the NASDAQ Global Select Market under the symbol "ORRF." 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. For media inquiries or further information, please contact:      John Moss     SVP, Director of Marketing and Client Experience, Orrstown Bank     717-747-1520     jmoss@orrstown.com Photos accompanying this announcement are available at:  https://www.globenewswire.com/NewsRoom/AttachmentNg/4a65ed6c-3c50-462f-9f4b-a702ec2184fb https://www.globenewswire.com/NewsRoom/AttachmentNg/de6a64b5-6af2-43ec-89a1-0c68fb01ccec Chris Orr, Chief Information Officer Chris Orr will lead Orrstown Bank’s technology strategy, leveraging nearly 20 years of experience in... Ben Colvard, Chief Operations Officer Ben Colvard will oversee Orrstown Bank’s operational strategy and ensure alignment of people, proces...

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