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It took just three months for Orrstown Financial Services (ORRF) to find a new chief financial officer, but the move could not have come too soon.
August 29 -
Orrstown Financial Services Inc. in Shippensburg, Pa., said it expects to reach formal agreements with regulators that could require it to strengthen its credit risk management practices.
March 16
Orrstown Financial Services (ORRF) is in the market for a new chief operating officer, adding to the list of vacated posts at the struggling company.
The Shippensburg, Pa., company said in a regulatory filing late Tuesday that Jeffrey Embly had resigned "to pursue other business opportunities." The filing did not provide any other details, and Embly did not return a phone call seeking comment.
The $1.3 billion-asset company has reported a wave of departures, including its chief financial officer and chief credit officer. Last month, Orrstown hired David Boyle, former PNC Financial Services Group (PNC),
Orrstown reported an $18.1 million loss through the first half of 2012, exceeding the loss it reported a year earlier. Regulators
