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In brief: Orrstown appoints principal financial officer

By , - Last modified: August 3, 2012 at 9:40 AM

Orrstown Financial Services Inc. appointed treasurer Philip Fague as its “principal financial officer,” effective July 26, the parent company of Orrstown Bank said last week.

Fague, who is also assistant secretary and a senior executive vice president at Orrstown Financial, was executive vice president at the bank from 1997 to 2011. He is a certified public accountant, the company said.

Orrstown, based in Shippensburg, is under enforcement orders to improve its board oversight, management and loan portfolio after posting large losses in 2011. It reported a net loss July 26 of $9.9 million for the second quarter of 2012, but also said it reduced its nonperforming loans by a third over six months.

 Editor's note: This story and headline have been altered to correct Philip Fague's title.

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