Orrstown Bank Welcomes Chris Orr as Chief Information Officer and Ben Colvard as Chief Operations Officer

Rhea-AI Summary

Orrstown Bank (NASDAQ:ORRF) has announced two key executive appointments to strengthen its leadership team. Chris Orr joins as Chief Information Officer, bringing nearly 20 years of experience in consulting, software delivery, and banking. At his previous role as Chief Digital Officer at Sandy Spring Bank, he led digital transformation initiatives and helped grow assets from $4.6 billion to $14 billion through multiple acquisitions.

Ben Colvard has been appointed as Chief Operations Officer, with over 20 years of operational excellence experience. Previously serving as Chief Optimization Officer at Sandy Spring Bank, he contributed to the bank's growth from $3.5 billion to $14 billion in assets. Both executives will focus on enhancing client experiences and driving technological innovation at Orrstown Bank.

Positive

• Both executives have proven track records in managing substantial bank growth through acquisitions
• New CIO brings extensive experience in digital transformation and platform modernization
• Both leaders previously contributed to significant asset growth at Sandy Spring Bank ($4.6B to $14B)

Negative

• None.

News Market Reaction

+0.42%

1 alert

+0.42% News Effect

On the day this news was published, ORRF gained 0.42%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

HARRISBURG, Pa., Jan. 16, 2025 (GLOBE NEWSWIRE) -- Orrstown Bank, a wholly owned subsidiary of Orrstown Financial Services, Inc. (NASDAQ:ORRF), is pleased to announce the addition of two accomplished leaders to its executive team. Chris Orr has been appointed as Chief Information Officer, and Ben Colvard joins as Chief Operations Officer. Both bring extensive experience and proven track records of driving innovation and operational excellence within the banking industry.

Chris Orr – Chief Information Officer
Chris Orr will lead Orrstown Bank’s technology strategy, leveraging nearly 20 years of experience in consulting, software delivery, and banking. Chris previously served as Chief Digital Officer at Sandy Spring Bank, where he implemented a transformative digital strategy, oversaw platform modernization, and integrated software development into the organization. His leadership helped Sandy Spring Bank grow from $4.6 billion to $14 billion in assets through multiple acquisitions.

Chris holds a bachelor’s degree in Information Systems and Business Management from the University of Maryland College Park, an MBA in Finance from Loyola College in Maryland, and a Leadership Certificate from The Wharton School. He is also a graduate of the ABA Stonier Graduate School of Banking.

Ben Colvard – Chief Operations Officer
Ben Colvard will oversee the bank’s operational strategy and ensure alignment of people, processes, and technology to deliver exceptional client experiences. With over 20 years of experience in operational excellence, Ben previously served as Chief Optimization Officer at Sandy Spring Bank, where he played a critical role in the organization’s expansion from $3.5 billion to $14 billion in assets through multiple acquisitions.

Ben earned a bachelor’s degree in History with a minor in Economics from Gettysburg College and graduated with honors from the MBA Maryland School of Banking.

Leadership Remarks
“We are thrilled to welcome Chris and Ben to the Orrstown Bank family,” said Thomas R. Quinn, Jr., President and Chief Executive Officer of Orrstown Bank. “Chris’s visionary leadership in technology and Ben’s experience in operational strategy are the perfect combination to help us deliver on our mission of providing innovative, client-focused banking solutions. Their combined experience will play a vital role in shaping our future success.”

About Orrstown
Orrstown Financial Services, Inc. and its wholly owned subsidiary, Orrstown Bank, provide a wide range of consumer and business financial services in Adams, Berks, Cumberland, Dauphin, Franklin, Lancaster, Perry, and York Counties, Pennsylvania and Anne Arundel, Baltimore, Howard, and Washington Counties, Maryland, as well as Baltimore City, Maryland. The Company's lending area also includes adjacent counties in Pennsylvania and Maryland, as well as Loudon County, Virginia and Berkeley, Jefferson and Morgan Counties, West Virginia. Orrstown Bank is an Equal Housing Lender and its deposits are insured up to the legal maximum by the FDIC. Orrstown Financial Services, Inc.'s common stock is traded on the NASDAQ Global Select Market under the symbol "ORRF."

Forward-Looking Statements

This news release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that include projections, predictions, expectations, or beliefs about events or results or otherwise are not statements of historical facts.

For media inquiries or further information, please contact:

     John Moss
     SVP, Director of Marketing and Client Experience, Orrstown Bank
     717-747-1520
     jmoss@orrstown.com

Photos accompanying this announcement are available at: 

https://www.globenewswire.com/NewsRoom/AttachmentNg/4a65ed6c-3c50-462f-9f4b-a702ec2184fb

https://www.globenewswire.com/NewsRoom/AttachmentNg/de6a64b5-6af2-43ec-89a1-0c68fb01ccec

FAQ

What experience does Chris Orr bring to Orrstown Bank (ORRF) as new CIO?

Chris Orr brings nearly 20 years of experience in consulting, software delivery, and banking, previously serving as Chief Digital Officer at Sandy Spring Bank where he implemented digital transformation strategies and helped grow assets from $4.6 billion to $14 billion.

What is Ben Colvard's background as Orrstown Bank's (ORRF) new COO?

Ben Colvard has over 20 years of operational excellence experience and previously served as Chief Optimization Officer at Sandy Spring Bank, where he helped grow assets from $3.5 billion to $14 billion through multiple acquisitions.

How did the new ORRF executives perform at their previous bank?

Both executives contributed to significant growth at Sandy Spring Bank, helping the institution grow from approximately $4 billion to $14 billion in assets through multiple acquisitions.

What are the educational qualifications of Orrstown Bank's (ORRF) new CIO Chris Orr?

Chris Orr holds a bachelor's degree in Information Systems and Business Management from the University of Maryland College Park, an MBA in Finance from Loyola College, a Leadership Certificate from The Wharton School, and is a graduate of the ABA Stonier Graduate School of Banking.