Orrstown completes sale of Path Valley branch to Juniata; $18.8M deposits assumed

ORRSTOWN FINANCIAL SERVICES INC

Transaction closed May 12, 2023; Juniata purchased branch premises and equipment.
Deposit liabilities of ~$18.8M assumed; Juniata paid a 6% deposit premium, adjusted for post-closing attrition.
No loans were included in the sale; Orrstown cites strategic objectives and shareholder value.
Deal was previously announced on December 23, 2022; customers received welcome kits with account details.

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