Orrstown Bank elevates executives in strategic roles

HARRISBURG - Orrstown Bank, a subsidiary of Orrstown Financial Services, Inc. (NASDAQ: ORRF), announced the appointment of Zachary Khuri as Chief Revenue Officer and Joshua Hocker as Market President for the Central Pennsylvania Region. The promotions are effective immediately and aim to strengthen the bank’s leadership team as it continues to grow. The bank’s stock, currently trading at $29.91, has shown resilience with a 20.86% return over the past year, according to InvestingPro data.

Zachary Khuri, previously the Market President for the Central Pennsylvania Region, has over 20 years of experience in the banking industry. He joined Orrstown Bank in 2019 and has been instrumental in increasing the bank’s market share and enhancing client relationships. Under his leadership, the bank has maintained strong financial health, with InvestingPro reporting a 56.29% revenue growth in the last twelve months. Khuri, a holder of a bachelor’s degree in Finance and an MBA, as well as a graduate of the Duke University Fuqua School of Business Executive Leadership Program, will oversee the bank’s revenue-generating operations.

Thomas R. Quinn, Jr., President and CEO of Orrstown Bank, praised Khuri’s strategic approach and leadership skills, which align with the bank’s culture of collaboration and client focus.

Joshua Hocker, succeeding Khuri, steps into the role of Market President for the Central Pennsylvania Region. His prior role as Director of Middle Market Lending showcased his ability to foster strong client connections and achieve significant commercial banking results. Hocker’s academic background includes a bachelor’s degree in Business Administration and an MBA.

Adam L. Metz, Chief Operating Officer at Orrstown Bank, expressed confidence in Hocker’s leadership and his capacity to deliver exceptional value to clients in the region.

Orrstown Bank operates with $5.4 billion in assets and offers consumer and business financial services across several counties in Pennsylvania and Maryland, maintaining a lending area that extends into neighboring states and the District of Columbia. The bank is committed to equal housing lending and has FDIC-insured deposits. InvestingPro analysis reveals the bank has maintained dividend payments for 11 consecutive years, with a current dividend yield of 3.48% and a notable 30% dividend growth in the last twelve months. For detailed insights and additional metrics, investors can access the comprehensive Pro Research Report, available for over 1,400 US stocks including ORRF.

The information in this article is based on a press release statement from Orrstown Financial Services, Inc.

In other recent news, Orrstown Financial Services reported strong financial results for the first quarter of 2025, surpassing analysts’ expectations with an adjusted earnings per share (EPS) of $1.00, compared to the forecasted $0.94. The company also reported revenue of $60.39 million, slightly above the anticipated $60.13 million. Orrstown’s robust performance was highlighted by a net interest margin (NIM) of 4.00%, showcasing efficient management of interest income and expenses. The bank maintained a strong deposit base of $4.6 billion despite a 1.4% decrease in total loans to $3.9 billion. Analysts at Keefe, Bruyette & Woods and Raymond James both reaffirmed their Outperform ratings on Orrstown stock, with Raymond James raising the price target from $35.00 to $37.00. These analysts cited Orrstown’s strategic de-risking of its loan portfolio and strong operational position as key factors for their confidence. Orrstown’s recent integration of CVLY has resulted in a 40% year-to-date increase in loan activity, indicating positive momentum in its loan pipeline. The bank’s focus on automation and technological enhancements is expected to support future growth, according to CEO Tom Quinn.

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