Orrstown Financial Services Management

Management criteria checks 3/4

We currently do not have sufficient information about the CEO.

Key information

Tom Quinn

Chief executive officer

US$2.6m

Total compensation

CEO salary percentage	26.9%
CEO tenure	15yrs
CEO ownership	0.9%
Management average tenure	5.3yrs
Board average tenure	12yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Tom Quinn's remuneration changed compared to Orrstown Financial Services's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	US$35m
Dec 31 2023	US$3m	US$709k	US$36m
Sep 30 2023	n/a	n/a	US$38m
Jun 30 2023	n/a	n/a	US$24m
Mar 31 2023	n/a	n/a	US$23m
Dec 31 2022	US$3m	US$695k	US$22m
Sep 30 2022	n/a	n/a	US$19m
Jun 30 2022	n/a	n/a	US$31m
Mar 31 2022	n/a	n/a	US$31m
Dec 31 2021	US$2m	US$552k	US$33m
Sep 30 2021	n/a	n/a	US$36m
Jun 30 2021	n/a	n/a	US$34m
Mar 31 2021	n/a	n/a	US$32m
Dec 31 2020	US$2m	US$535k	US$26m
Sep 30 2020	n/a	n/a	US$21m
Jun 30 2020	n/a	n/a	US$23m
Mar 31 2020	n/a	n/a	US$19m
Dec 31 2019	US$1m	US$530k	US$17m
Sep 30 2019	n/a	n/a	US$14m
Jun 30 2019	n/a	n/a	US$11m
Mar 31 2019	n/a	n/a	US$12m
Dec 31 2018	US$2m	US$515k	US$13m
Sep 30 2018	n/a	n/a	US$12m
Jun 30 2018	n/a	n/a	US$10m
Mar 31 2018	n/a	n/a	US$10m
Dec 31 2017	US$1m	US$500k	US$8m

Compensation vs Market: Tom's total compensation ($USD2.64M) is above average for companies of similar size in the German market ($USD713.13K).

Compensation vs Earnings: Tom's compensation has been consistent with company performance over the past year.

CEO

Tom Quinn (64 yo)

15yrs

Tenure

US$2,638,017

Compensation

Mr. Thomas Rodney Quinn, Jr., also known as Tom, has been the Chief Executive Officer and President at Orrstown Financial Services Inc. since May 5, 2009. Mr. Quinn has been the President and Chief Executi...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Thomas Quinn	President	15yrs	US$2.64m	0.90% $ 2.4m
Neelesh Kalani	Executive VP	3.1yrs	US$676.43k	0.26% $ 689.8k
Adam Metz	Executive VP & Chief Revenue Officer of Orrstown Bank	5.3yrs	US$716.83k	0.25% $ 664.0k
Christopher Holt	Executive VP & Market President for the Maryland Region	4.8yrs	US$1.01m	0.30% $ 775.3k
Robert Coradi	Executive VP	6.3yrs	US$753.12k	0.38% $ 1.0m
Adam Bonanno	Executive VP	2.3yrs	no data	0.092% $ 242.7k
Sean Mulcahy	Senior VP & Chief Accounting Officer	2.9yrs	no data	0.051% $ 133.2k
Matthew Dyckman	Executive VP & General Counsel	3.3yrs	no data	0.13% $ 335.6k
Philip Fague	Executive VP & Chief Trust Officer of Orrstown Bank	no data	US$452.15k	0.39% $ 1.0m
Jeffrey Gayman	Executive VP & Chief Mortgage and Retail Officer	12.9yrs	US$186.15k	0.14% $ 359.5k
Robert Russoli	Chief Trust Officer	12.9yrs	no data	no data
David Hornberger	Executive VP & Market President for the Eastern Pennsylvania region	9.3yrs	no data	0.25% $ 658.0k

5.3yrs

Average Tenure

53yo

Average Age

Experienced Management: OFR's management team is seasoned and experienced (5.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Thomas Quinn	President	15yrs	US$2.64m	0.90% $ 2.4m
Andrea Pugh	Independent Director	28.3yrs	US$82.63k	0.30% $ 789.2k
Glenn Snoke	Independent Director	25.3yrs	US$79.78k	0.34% $ 888.5k
Joel Zullinger	Independent Chairman of the Board	43.3yrs	US$117.84k	0.47% $ 1.2m
Mark Keller	Independent Director	15yrs	US$83.34k	0.21% $ 559.6k
Eric Segal	Independent Director	10.8yrs	US$82.55k	0.22% $ 587.2k
Michael Rice	Independent Director	5.6yrs	US$72.05k	0.20% $ 520.7k
Floyd Stoner	Independent Director	12yrs	US$99.55k	0.33% $ 873.7k
Cindy Joiner	Independent Director	8.3yrs	US$79.90k	0.20% $ 522.2k
Thomas Longenecker	Independent Director	8.3yrs	US$77.55k	0.20% $ 515.6k
Meera Modi	Independent Director	2.2yrs	US$72.05k	0.081% $ 212.0k

12.0yrs

Average Tenure

65yo

Average Age

Experienced Board: OFR's board of directors are seasoned and experienced ( 12 years average tenure).

Orrstown Financial Services Management

Management criteria checks 3/4

Key information

Recent management updates

Orrstown Financial Services, Inc., Annual General Meeting, Apr 30, 2024

President recently sold €311k worth of stock

Insufficient new directors

Independent Director recently sold €63k worth of stock

Insufficient new directors

Independent Director recently bought €54k worth of stock

Recent updates

First quarter dividend of US$0.20 announced

First quarter 2024 earnings released: EPS: US$0.82 (vs US$0.88 in 1Q 2023)

Orrstown Financial Services, Inc. Declares a Cash Dividend, Payable on May 14, 2024

Orrstown Financial Services, Inc., Annual General Meeting, Apr 30, 2024

Full year 2023 earnings released: EPS: US$3.45 (vs US$2.09 in FY 2022)

Fourth quarter dividend of US$0.20 announced

Full year 2023 earnings released: EPS: US$3.45 (vs US$2.09 in FY 2022)

Orrstown Financial Services, Inc. Declares Cash Dividend, Payable on February 13, 2024

Investor sentiment improves as stock rises 17%

Orrstown Financial Services, Inc. (NasdaqCM:ORRF) entered into a definitive agreement to acquire Codorus Valley Bancorp, Inc. (NasdaqGM:CVLY) for approximately $210 million in a merger of equals transaction.

Orrstown Financial Services, Inc. (NasdaqCM:ORRF) entered into a definitive agreement to acquire Codorus Valley Bancorp, Inc. (NasdaqGM:CVLY) for approximately $210 million in a merger of equals transaction.

Upcoming dividend of US$0.20 per share at 3.9% yield

New major risk - Revenue and earnings growth

Third quarter 2023 earnings released: EPS: US$0.88 (vs US$0.47 loss in 3Q 2022)

Orrstown Financial Services, Inc. Declares Cash Dividend, Payable on November 14, 2023

Orrstown Financial Services, Inc. Approves Cash Dividend, Payable on August 15, 2023

Second quarter 2023 earnings released: EPS: US$0.95 (vs US$0.84 in 2Q 2022)

Full year 2022 earnings released: EPS: US$2.09 (vs US$3.00 in FY 2021)

President recently sold €311k worth of stock

Full year 2022 earnings released: EPS: US$2.09 (vs US$3.00 in FY 2021)

Insufficient new directors

Orrstown Financial Services, Inc. Approves Quarterly Dividend, Payable on November 7, 2022

Orrstown Financial Services, Inc. Announces Closing of Five Branch Locations and Certain Staffing Model Adjustments

Independent Director recently sold €63k worth of stock

Second quarter 2022 earnings released: EPS: US$0.84 (vs US$0.80 in 2Q 2021)

Orrstown Financial Services, Inc. Reports Net Charge Offs for the Second Quarter Ended June 30, 2022

First quarter 2022 earnings released: EPS: US$0.77 (vs US$0.93 in 1Q 2021)

Insufficient new directors

Orrstown Financial Services, Inc. Declares Cash Dividend, Payable on May 9, 2022

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Independent Director recently bought €54k worth of stock

Executive VP & Chief Revenue Officer recently sold €96k worth of stock

Upcoming dividend of US$0.19 per share

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Third quarter 2021 earnings released: EPS US$0.66 (vs US$0.46 in 3Q 2020)

President recently sold €335k worth of stock

Independent Director Linford Weaver has left the company

Orrstown Financial Services, Inc. Reports Net Charge-Offs for the Second Quarter Ended June 30, 2021

Second quarter 2021 earnings released: EPS US$0.80 (vs US$0.58 in 2Q 2020)

Independent Director recently sold €125k worth of stock

Executive VP & CFO has left the company

First quarter 2021 earnings released: EPS US$0.93 (vs US$0.46 in 1Q 2020)

Investor sentiment improved over the past week

New 90-day high: €16.47

New 90-day high: €15.26

Full year 2020 earnings released: EPS US$2.42

Executive VP & Chief Revenue Officer recently sold €79k worth of stock

Market bids up stock over the past week

Market bids up stock over the past week

Third quarter 2020 earnings released: EPS US$0.46

Executive VP & CFO recently bought €57k worth of stock

Third quarter earnings released

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age