Adam Metz: Orrstown’s New CEO Brings Experience and Optimism
Adam Metz, the newly appointed CEO of Orrstown Financial, steps into the role with confidence and a firm belief in the strength and potential of the Harrisburg, Pennsylvania-based company. Metz’s preparation for the role was thorough and detailed, involving a comprehensive checklist of 36 items to ensure readiness for the position.
“There were 36 items to cross off on a checklist to make sure I was ready for this day,” Metz told American Banker. “Tom and the board were very engaged in that process.”
Metz’s Journey to Orrstown’s Helm
Before assuming the role of CEO, Metz held the position of Orrstown’s Chief Operating Officer for a year. His tenure at Orrstown spans six years where he served as Chief Revenue Officer prior to becoming COO. He succeeded Thomas Quinn, who retired on June 2 after leading the company for 17 years.
Joel Zullinger, Chairman of Orrstown’s board, lauded Metz as “a proven and respected leader who understands our markets, our clients, and the importance of our commitment to community banking.” He added that Metz is “exceptionally well-suited to lead Orrstown Bank.”
Unexpected Turn of Events
Orrstown’s biggest deal, a $207 million-asset purchase of Codorus Valley Bancorp, was completed in July 2024. Initially, Orrstown had planned for Codorus Valley CEO Craig Kauffman to succeed Quinn. However, Kauffman’s unexpected retirement in September 2024 extended Quinn’s tenure and paved the way for Metz’s ascension.
Orrstown’s Position of Strength
Orrstown reported a first-quarter net income of $21.8 million, marking a 20% increase from the previous year. Days before Metz took over, Orrstown announced plans to retire $31 million in subordinated debt linked to its merger with Codorus Valley Bancorp. This move reduces Orrstown’s capital as Metz begins his tenure as CEO. However, Metz is confident that the bank’s solid earnings power will replenish its position swiftly.
“We feel like we’re in a really strong position,” he said.
Metz’s Vision and Strategy
As CEO, Metz’s primary role will be to determine long-term strategy and ensure its execution. He also plans to maintain regular contact with clients to understand their needs and challenges. These interactions will help inform the bank’s strategies and services, ensuring they remain relevant and responsive to the market.
With his background in commercial lending roles, including serving as Chief Lending Officer at both Metro and Orrstown, Metz brings a wealth of expertise and experience to his new role. His leadership is expected to reinforce Orrstown’s commitment to community banking and sustain its growth trajectory.
Source: Here
