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Orrstown Financial Services, parent company of Orrstown Bank, and Codorus Valley Bancorp, parent company of PeoplesBank, have entered an agreement for Codorus Valley to merge into Orrstown.
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Stephen A. Rhoades, "Bank Mergers and Industrywide Structure, 1980–1994," Washington: Board of Governors of the Federal Reanuary 1996. (Staff study 169) Steven J. Pilloff, "Bank Merger Activity in the United States, 1994–2003," Washington: Board of Governors of the Federal Reserve System, May 2004. (Staff study 176)
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The bank was founded in 1992 as a Maine-based institution which sought "to return local control to Bangor banking." It was established by buying seven former Fleet Bank offices in the area and had 75 employees, 7 branches, and $74 million in assets. [2] William C. Bullock Jr. led the bank from its founding until his retirement in 2004. [1]
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