Orrstown Bank closes three branches in Franklin County
Orrstown Financial Services Inc. has shuttered three branches in Franklin County in the wake of its merger last fall with a Mercersburg bank.
Shippensburg-based Orrstown Bank is closing branches at 1680 Orchard Drive and 3141 Black Gap Road in Chambersburg and at 821 S. Washington St. in Greencastle, according to a notice in the Pennsylvania Bulletin.
Luke Bernstein, chief retail officer of Orrstown Bank, said the branch closings are the direct result of a merger in fall 2018 between Orrstown Financial Services and Mercersburg Financial Corp., the parent company of First Community Bank of Mercersburg.
The merger resulted in Orrstown branches within walking distance of branches operated by the former First Community Bank of Mercersburg, he said.
“It did not make sense to keep them open," he said.
Each branch that was closed was a former Mercersburg branch, he said. Their customers will be transferred to the closest Orrstown branches, he said.
As of June 30, 2018, the 1680 Orchard Drive branch had $40 million deposits; the 3141 Black Gap Road location had $4.4 million in deposits; and the 821 S. Washington St. location had $36 million, according to the Federal Deposit Insurance Corp.
Orrstown Financial Services and its subsidiaries, Orrstown Bank and Wheatland Advisors Inc., have 28 offices offices in Berks, Cumberland, Dauphin, Franklin, Lancaster, Perry, and York counties in Pennsylvania and in Washington County in Maryland. It has assets of $1.5 billion.