Mr. Quinn: Orrstown Bank was founded in 1919 and just celebrated its 90th anniversary this year. We are a 21-branch regional community bank with a significant presence in south-central Pennsylvania and northern Maryland, primarily along the Interstate 81 corridor. Orrstown Bank has approximately 1.1 billion in assets and about 810 million in deposits. We are well capitalized, with Tier 1 capital slightly over 10%. We continue to have solid asset growth of over 18% this year over last year, while maintaining our focus on loan quality. Through the second quarter of this year, our non-performing loans were less than 1% of total loans outstanding. We didn't need or want the TARP funds and our current market cap is about 240 million.
TWST: What are the key factors that differentiate your bank from its competition? Is it your business focus, your geography, quality of the assets, what might some of those factors be?
Mr. Quinn: I think first and foremost, you start with our people. We have some really talented bankers in the organization and continue to attract and retain the best and brightest because of our strong culture, solid track record and the exceptional talent pool in the region. We have Shippensburg University 500 yards from our corporate headquarters and are surrounded by private colleges and universities, including Gettysburg, Dickinson, Messiah and two Penn State branch campuses.
Number two is our business model that we live every day. It may sound clichŽ, but we help customers realize their dreams. In a small community, you know the dry cleaner, you know the automobile dealer, you know the restaurateur. We have not only come to understand the specific needs of local businesses, but how to tailor the right products and services to enable them to focus on their core business and allow us to handle the banking. In the end, it really comes down to execution, and I think we have built a better mousetrap that gives us tremendous opportunity for growth. So in summary: great people, positive corporate culture, local bankers who are close to their customers, and we're in a part of the country that's got tremendous growth opportunities.
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