Community Heritage Financial, Inc. Announces Data Security Incident
Community Heritage Financial announced on October 3, 2022, that its subsidiary, Middletown Valley Bank, experienced unauthorized access to its information technology system on October 1. The Bank swiftly implemented containment measures and is conducting an investigation, but currently believes no customer information was compromised. The incident is not expected to materially impact business operations, and normal banking services will continue.
- Quick implementation of containment and remediation measures following the incident.
- No customer information believed to be compromised.
- The incident raises cybersecurity concerns that could affect investor confidence.
MIDDLETOWN, Md., Oct. 3, 2022 /PRNewswire/ -- Community Heritage Financial, Inc. (the "Company") (OTC PK: CMHF), the parent company of Middletown Valley Bank (the "Bank"), today announced that on October 1, 2022, the Bank determined there was unauthorized access to a portion of its information technology system. Within hours of the detection of the event, the Bank implemented a series of containment and remediation measures to address the situation. The Bank also launched an investigation and engaged legal counsel, a computer forensic firm and other incident response professionals. Although we are continuing to assess the situation, at this time we do not believe that any customer information was accessed. In addition, based on the information currently known to us, at this time we do not believe that the incident will have a material impact on our business or operations, and we expect our branches to continue to operate in the normal course of business.
About Community Heritage Financial, Inc.
Community Heritage Financial, Inc. is the parent company of Middletown Valley Bank. Middletown Valley Bank provides personal and business banking services, as well as mortgage lending services through its wholly owned subsidiary, Millennium Financial Services, Inc. (Mlend). Originating in Middletown, Maryland in 1908, today the Bank operates offices in the Maryland counties of Frederick, Washington, Garrett and Anne Arundel, and Franklin County, Pennsylvania. For more information, visit www.communityheritageinc.com or www.mvbbank.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws, including statements related to the potential impact of the cybersecurity incident announced on October 3, 2022. Forward-looking statements can generally be identified by the use of forward- looking terminology such as "believes," "expects," "intends," "may," "will," "should," "anticipates" or similar terminology. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, changes in interest rates, stock market liquidity, deposit flows, loan demand and real estate values, as well as changes in economic, competitive, governmental, regulatory, technological and other factors which may affect the Company specifically, its existing and target market areas or the banking industry in general. The realization or occurrence of these risks or uncertainties could cause actual results to differ materially from those addressed in the forward-looking statements. The statements in this press release are made as of the date of this release. The Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or results or otherwise, except as required by law.
Investor Relations Contact:
Community Heritage Financial, Inc.
Robert E. (BJ) Goetz, Jr.
President & Chief Executive Officer
301-371-3055
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SOURCE Community Heritage Financial, Inc.
FAQ
What incident did Community Heritage Financial report on October 3, 2022?
Will the cybersecurity incident affect Community Heritage Financial's operations?
What measures did Middletown Valley Bank take after discovering the breach?
