Q: What can you tell me about Orrstown Bank?
A: Orrstown Bank is a strong community bank that is currently celebrating its 100th anniversary, so while they might be new in this area, the bank has been around a long time! The company is headquartered in Shippensburg, Pennsylvania and has branches throughout south central Pennsylvania and in Hagerstown, Maryland. Their executive team is based at their regional headquarters just up Rt. 83 in Harrisburg. If you would like to learn more about Orrstown, you might want to visit their website at www.orrstown.com.
Q: Why did you decide to merge with Orrstown?
A: Orrstown and Hamilton are very similar in that we both strongly believe in providing our customers with the best service possible and being active in the communities we serve. By partnering with a larger community bank like Orrstown, we felt as though we would be a stronger bank, provide our customers with access to more products, services, and branches, enhance our technology, and add exceptional wealth management opportunities.
Q: When will the merger happen?
A: As of May 1st, Hamilton Bank will become part of Orrstown Bank. However, we will continue to operate as Hamilton Bank until August 16th, so for now, it’s business as usual! In August, we will be converting our computer systems and remodeling some of our branches. At that time, you’ll be able to bank at any Orrstown location.
Q: Will any branches be closing?
A: Because there is no overlap in the footprint between the two banks, we do not foresee any of Hamilton Bank’s offices closing at this time. In fact, Orrstown has stated that it intends to expand its presence throughout the area, so more branches could possibly be added in the future.
Q: Will my account numbers change?
A: Unless we notify you otherwise, your account number(s) will not change. If your account is one that will require an account number change, we will contact you directly.
Q: Can I continue to use my Hamilton Bank checks?
A: Yes, for now you may continue to use your Hamilton Bank checks. At some point, you will need to convert to Orrstown Bank checks, but that date hasn’t been finalized. We’ll send you more information about then when we have the date determined.
Q: Can I continue to use my Hamilton Bank debit card?
A: Yes, for now you should continue to use your Hamilton Bank debit card. At some point closer to our conversion in August, you will automatically receive a new Orrstown Bank debit card with instructions on when to begin using it.
Q: Will the transition impact internet banking, e-statements, and bill pay?
A: When we convert our systems in August, you will begin to use Orrstown Bank’s online services. For now, however, it is business as usual and you should continue to use Hamilton Bank’s systems.
Q: Will the rates stay the same on my CD?
A: You will continue to earn the interest rate guaranteed on your CD and/or IRA when you opened your account at Hamilton Bank, or at its last renewal, for the remainder of the account term. Upon maturity, CDs and IRAs may be renewed at Orrstown Bank’s current market rates in effect on that date, unless otherwise notified. You will continue to receive your interest payouts in the same form that you receive them today.
Q: Will the transition to Orrstown Bank affect my existing Hamilton loan?
A: No, this merger will have no impact on your existing loan rates, terms, or conditions. You should continue to make your loan payments as usual.
Q: Will my branch hours change?
A: Not at this time. For now, all of our offices will continue to operate with the same convenient hours that you’re used to.
Q: I’m receiving mail from both Hamilton Bank and Orrstown Bank. Why?
A: Until we go through our conversion process in August, you may receive some items that have the Hamilton Bank name on them and some items that have the Orrstown Bank name on them. That’s okay because we are simply working through the transition from one system and processes to others over the coming months.
Q: Will I be receiving more information about Orrstown Bank and how this merger will happen?
A: Absolutely! Within the next few weeks, you’ll be receiving a welcome letter from Orrstown Bank and in July, you’ll be receiving a Transition Guide that will outline everything you need to know about Orrstown Bank, what we plan to offer you, and all of the important dates you’ll need to know about the conversion process. We are going to do our best to make sure this transition is as seamless and as simple as possible for you!