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Article: Earnings spike, but Orrstown Financial Services vows caution
- Article from:
- Central Penn Business Journal
- Article date:
- November 18, 2005
- Author:
CopyrightCopyright Journal Publications Inc. Nov 18, 2005. Provided by ProQuest LLC. (Hide copyright information)
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A small bank from a far end of Cumberland County is running up big numbers as it moves into the Harrisburg area.
Orrstown Financial Services Inc., the parent company of Orrstown Bank, reported earnings of $2.8 million for the third quarter. That was up 40.5 percent from the same period last year. So far in 2005, Orrstown earnings are up 32 percent from the first nine months of 2004 (see "A strong stretch," this page).
Those are impressive figures, even in an industry where doubledigit growth is expected.
"We're just having an exceptional year," said Kenneth Shoemaker, the bank's president and chief executive officer.
The results underscore Orrstown's evolution into a bank that's serious ...