Comings & Goings: Orrstown and Codorus merge, HOPE FM launches, new San Mar board members

Codorus Valley Bancorp merging with Orrstown Financial Services

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.

The all-stock transaction is valued at approximately $207 million. The combined Pennsylvania and Maryland community bank will have approximately $5.2 billion in assets. Closing is expected to occur in the third quarter of 2024, according to a news release from Orrstown Financial Services.

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With the merger, there will be 51 branches in Pennsylvania and Maryland. Orrstown Bank now has offices in Franklin, Berks, Cumberland, Dauphin, Lancaster, Perry and York counties in Pennsylvania and Washington, Anne Arundel, Baltimore, and Howard counties and Baltimore City in Maryland. Headquartered in York, Codorus has offices South-Central Pennsylvania and Central Maryland. The company's lending area includes Berkeley, Jefferson and Morgan counties in West Virginia.

The administrative headquarters will be in Harrisburg and there will be an operations center in York.

“Orrstown and Codorus Valley share a similar culture, vision and deep commitment to our communities,” Orrstown President and CEO Thomas R. Quinn, Jr. said in the news release. “The partnership of our companies will significantly increase our size and scale, which we believe will not only drive profitability and shareholder value but also benefit our clients, employees and communities through broader product offerings, higher lending limits, an improved customer experience and increased career opportunities.

“I am excited by the opportunity to work with Craig (Kauffman) and his impressive team to build the premier community banking franchise in our Pennsylvania and Maryland markets,” Quinn said.

Craig L. Kauffman, the current president and CEO of Codorus Valley, will serve as executive vice president and chief operating officer of the combined company. He will be appointed president and CEO when Quinn retires, around June 1, 2025.

The combined company's board of directors will consist of seven directors from Orrstown and six directors from Codorus Valley. Joel R. Zullinger, chairman of Orrstown’s board, will continue in that role with the combined company and J. Rodney Messick, chairman of Codorus Valley’s board of directors, will be vice chairman.

Neil Kalani, Orrstown Financial Services' current chief financial officer, will be CFO of the combined company and bank.

The remainder of the executive team will be drawn from both Orrstown and Codorus Valley.

Manning Media launches contemporary Christian radio station

Manning Media launched HOPE FM, a contemporary Christian radio station, in Hagerstown and Frederick, Md., in mid-October, President and CEO Fred Manning said.

"We felt there was a need for this type of format in the market," Manning said in a phone interview.

Manning Media aims for HOPE FM "to be a source of encouragement and positivity," according to a company news release. The station features Christian contemporary music and community-focused programming.

The programming plays on 102.1 FM in the Hagerstown area and on 94.3 FM in the Frederick, Md., area.

For those with HD radio, HOPE FM also plays on 106.9 HD2, Manning said.

Manning Media is finalizing its purchase of 94.3 FM from Hubbard Broadcasting, Manning said.

Manning Media has studios in Hagerstown and Frederick.

San Mar announces two new board members

San Mar Family & Community Services announced it has two new members on its board of managers, Ashley Tauler and Kalyani Loganathan.

Both "bring important perspectives to the board, and I look forward to seeing them deepen their involvement in this critical work," Board President Mark Halsey said in a news release.

Tauler is a policy and advocacy associate and family peer support specialist with the Maryland Coalition of Families. She has an associate's degree in human services from Hagerstown Community College and is a certified advocate through NACP. She is studying for her bachelor's degree in social work at Salisbury University, working to become a licensed social worker.

Tauler's "experience as a youth in the foster care system helps drive her passion to help families and individuals experiencing similar challenges," the release states.

Loganathan has experience in the information technology field. That includes over 10 years implementing modern software technology and supporting senior executives and business stakeholders in using data and technology to improve outcomes for various organizations, the release states. Those organizations include P&G, Honeywell, Fidelis Cybersecurity, the Department of Veteran Affairs, Save the Children and the National Investment Center for Senior Housing.

San Mar also recognizes outgoing board members David Lidz, founder of Streetwell and Ladders to Leaders, and Teri Cholewicki, executive recruiter and past foster parent, for their "significant and lengthy contributions," the release states.

This article originally appeared on The Herald-Mail: Pennsylvania-based bank companies merge; Manning Media starts HOPE FM