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Orrstown tech chief makes early exit to pursue fintech endeavor

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Benjamin Wallace, chief corporate technology officer of Orrstown Bank, said he left the bank one month ahead of his scheduled resignation to invest more time into the next phase of his career, which involves financial technology.

Wallace, who was supposed to leave the bank in September, left on Aug. 6, according to a March filing with the U.S. Securities and Exchange Commission. 

Both the bank and Wallace mutually agreed to Wallace's early resignation after a five-month transition, a bank spokesman said. 

"The transition went really well at Orrstown, and they were super supportive," Wallace said.

Wallace began working at Orrstown in 2013 but is now pursuing a business venture in the arena of financial technology, also known as fintech.

While Wallace said he can't identify the company he has joined until early next month, he noted that it is a cloud engineering firm with offices in Central Pennsylvania. 

"The organization has raised capital from large national players," Wallace said.

He added that the organization is looking to advance the infrastructure and other technological aspects of banks across the country.

Taking his place at Orrstown is Andrew Linn, who previously worked as the bank's senior vice president and chief information security officer.

Based in Shippensburg, Orrstown Financial has assets of roughly $1.5 billion and offices in Berks, Cumberland, Dauphin, Franklin, Lancaster and Perry counties, as well as in Maryland.

According to its most recent earnings report, Orrstown had a net income of $4 million in the second quarter, up from $3.3 million in the second quarter of last year.

Orrstown's subsidiaries include Orrstown Bank and Wheatland Advisors Inc.which it bought in 2016.

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Shelby White

Shelby White covers banking and finance, law and Lancaster County for the Central Penn Business Journal. For tips, email her at swhite@cpbj.com.

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