CybersecurityMay 29, 2026, 04:15 PM
Orrstown Financial Discloses Third-Party Cyber Incident; Redeems $31M Notes
AI Summary
Orrstown Financial Services disclosed a cybersecurity incident experienced by a third-party vendor, which resulted in unauthorized access to sensitive personal information of some of its customers. The company's internal systems were not compromised, and the incident is not expected to materially impact its operations or financial condition, though affected customers will be notified and offered credit monitoring. Separately, Orrstown Financial announced it will redeem its $31,000,000 outstanding 4.5% Fixed-to-Floating Rate Subordinated Notes due 2030 on June 30, 2026, at 100% of the principal amount plus accrued interest.
Key Highlights
- Orrstown Financial received notice on May 21, 2026, of a third-party vendor cybersecurity incident.
- Unauthorized access to sensitive personal information of certain Orrstown customers occurred.
- Orrstown's internal information systems and networks were not accessed or compromised.
- Affected customers will be notified of the incident and offered credit monitoring services.
- The incident is not expected to have a material impact on operations or financial condition.
- Company will redeem $31,000,000 outstanding 4.5% Fixed-to-Floating Rate Subordinated Notes.
- The Notes will be redeemed on June 30, 2026, at 100% of principal plus accrued interest.
- The Notes were assumed by Orrstown Financial upon its merger with Codorus Valley Bancorp on July 1, 2024.
Price Impact
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