secwatch.observer — SEC 8-K summary
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Issuer:     ORRSTOWN FINANCIAL SERVICES INC (ORRF)
CIK:        0000826154
Form:       8-K
Filed at:   2023-05-12T23:59:59+00:00
Accession:  0000826154-23-000115
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.40
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/826154/000082615423000115/0000826154-23-000115-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/826154/000082615423000115/orrf-20230512.htm
  HTML page:      https://secwatch.observer/filing/0000826154-23-000115

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer