Orrstown Financial Services, Inc. Announces Election of Linford Weaver to Board of Directors
Orrstown Financial Services, Inc. (NASDAQ: ORRF) has elected Linford Weaver to its Board of Directors effective June 1, 2020. Weaver, Co-President of the Shady Maple Companies, brings extensive leadership experience, particularly in financial analysis, risk management, and marketing. He is known for expanding the Shady Maple Farmers Market and Smorgasbord. This appointment is expected to bolster Orrstown's operations in the rapidly-growing eastern Pennsylvania market. Alongside this change, Robert DeAlmeida has resigned from the boards to pursue other interests.
- Lin Weaver's extensive leadership experience is expected to enhance strategic growth.
- Weaver's local market knowledge may strengthen Orrstown's presence in eastern Pennsylvania.
- The resignation of Robert DeAlmeida could raise concerns regarding continuity on the board.
SHIPPENSBURG, Pa., June 01, 2020 (GLOBE NEWSWIRE) -- Orrstown Financial Services, Inc. (NASDAQ: ORRF) today announced that Linford (Lin) Weaver has been elected to the Boards of Directors of the Company and its principal subsidiary, Orrstown Bank, effective June 1, 2020.
Mr. Weaver currently serves as Co-President of the Shady Maple Companies. Mr. Weaver has significant experience managing complex organizations, and brings a broad range of executive leadership skills to the ORRF Board of Directors, including financial analysis, human resources, risk management, information technology, and strategic marketing. Under his leadership, the Shady Maple Farmers Market has grown into the largest supermarket in Pennsylvania, and the Shady Maple Smorgasbord has grown to be the largest buffet in the United States. In addition to these entities, Mr. Weaver also oversees Shady Maple RV Sales and Service, Houston Run Development, and Weaver Realty Investment Properties, all of which are well-known and highly-respected organizations throughout Orrstown’s footprint, and further highlight Weaver’s depth and breadth of experience.
“We are delighted to welcome Lin Weaver to the Orrstown boards,” said Joel R. Zullinger, Chairman. “Lin’s business acumen and extensive knowledge of our eastern Pennsylvania market, particularly in the Lancaster and Berks County communities, will be of tremendous value as we continue to expand our operations and presence in this rapidly-growing area.”
Mr. Weaver currently serves as President of the Board of the Conestoga Christian School and as a member of the missions board of Missions Me. He and his wife, Bernice, are the proud parents of four children and reside in East Earl, Pennsylvania.
In addition to Mr. Weaver’s appointment, the Company also announced that Robert (Bob) DeAlmeida resigned from the Orrstown boards effective June 1, 2020, to pursue other interests.
“We are grateful to Bob for his service to our company and his counsel,” said Mr. Zullinger. “We wish him all the best in his future endeavors.”
About the Company
With approximately
Cautionary Note Regarding Forward-looking Statements: This news release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that include projections, predictions, expectations, or beliefs about events or results or otherwise are not statements of historical facts.
Contact:
LUKE BERNSTEIN
EVP / Chief Retail Officer / Chief Communications Officer
lbernstein@orrstown.com
717-510-7107
FAQ
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