Orrstown to close six branches; expects $534K charge and $1.7M annual savings

ORRSTOWN FINANCIAL SERVICES INC

Six branches to close: Lancaster (2), Camp Hill, Mechanicsburg, Spring Grove PA, Parkton MD.
One-time pre-tax charge of ~$534K; expected annual pre-tax savings of ~$1.7M.
Five closures subject to regulatory approval, expected Q4 2024; one consolidation in Q3 2024.
After closures, bank will have 38 full-service branches (avg $123M deposits) and 7 limited-service.
Closures align with client needs and branch network overlap after merger with Codorus Valley.

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