Reliable, Trustworthy Reporting, Capturing The Heartbeat Of Our Community
Reliable, Trustworthy Reporting, Capturing The Heartbeat Of Our Community
Transition • The Bank of Orchard will become a Cornerstone Bank bank branch. Last Wednesday, Bank of Orchard president Ben Clifton, along with Cornerstone Bank officials, announced a purchase agreement had been reached.
On Aug. 7, Ben Clifton, chairman, president and chief executive officer of the Bank of Orchard in Orchard; Kelly Holthus, chairman of Cornerstone Bank, and Zac Holoch, president and CEO of Cornerstone Bank in York, announced an agreement has been reached for Cornerstone Bank to purchase the Bank of Orchard.
The Bank of Orchard has total assets of approximately $35 million with total deposits of $30 million and total loans of $9 million. The purchase is subject to regulatory approval with a closing date expected to be in the fourth quarter of 2024.
"Cornerstone Bank is very pleased to be a part...
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