Orrstown in Pennsylvania highlights tech initiatives

Orrstown Financial in Shippensburg, Pa., plans to introduce a new treasury management application later this year. 

The effort is one of several technology enhancements the $2.9 billion-asset company highlighted in its slidedeck for its 2022 annual meeting. 

Orrstown, which hired a chief digital officer in 2021, said it also plans to focus on robotic process automation to gain efficiencies. The company will also refine Abrigo, a commercial loan origination system that it launched last year. 

The company said in its presentation that it expects “substantially all” of the roughly 2,800 customers gained from the Paycheck Protection Program remain active clients. That includes 193 new loans totaling $53.1 million and 123 new treasury management clients.

Orrstown made 6,500 PPP loans totaling $700 million during the program’s duration.