SHIPPENSBURG, Pa., June 1, 2011 /PRNewswire/ -- Orrstown Financial Services, Inc., (NASDAQ: ORRF) parent company of Orrstown Bank, was ranked the 38th best performing community bank in the country, according to US Banker magazine. The rankings are based on 3-year return on average equity (ROE) of banks with less than $2 billion in assets, and required at least a 7% 3-year ROE to be included on this year's list. With a 3-year ROE of 12.30%, Orrstown Financial was the 4th highest ranked Pennsylvania bank on the list. Pennsylvania led all other states with 41 banks ranked in the top 200.
Thomas R. Quinn, Jr. President and CEO commented: "We are pleased to be recognized by US Banker magazine as a top performing bank for the 6th year in a row. Our improvement from the 39th highest performing bank in the nation in 2010, to 38th this year, is a testament to the hard work and support of our Board of Directors, Executive Management Team, and more than 300 dedicated team members. I would also like to acknowledge the support of our shareholders and customers throughout our 92 year history as a locally owned independent bank."
With over $1.5 billion in assets, Orrstown Financial Services, Inc. and its wholly-owned subsidiary, Orrstown Bank, provide a full range of consumer and business financial services through twenty-one banking offices and two remote service facilities located in Cumberland, Franklin and Perry Counties, Pennsylvania and Washington County, Maryland. Orrstown Financial Services, Inc.'s stock is traded on the NASDAQ Capital Market under the symbol ORRF.
SOURCE Orrstown Financial Services, Inc.